Frequently Asked Questions

A funding program for options traders. Pass a simulated evaluation to qualify for payouts and potentially a live account.

A brokerage account uses your own capital. Options Funding gives you a simulated evaluation account first, then a funded account funded by the firm. You do not put up trading capital. You pay a monthly subscription for the evaluation. If you reach Live, that subscription is refunded.

Active options traders who want capital and rule clarity. No minimum trading days. No time limit to pass. Single legs on Express, full multi-leg on Growth.

The Rules page is the source of truth. Every dollar amount, percentage, and threshold lives there.

Log in, look at the dashboard, read the Rules page, and start trading. No minimum trading day or warm-up period.

There is no free trial. The evaluation subscription begins on purchase. You can cancel anytime to stop future charges. Access continues until the end of the current billing period.

No. Traders outside the US can use Options Funding. KYC and tax forms differ for non-US traders.

Pick an account size on the homepage, complete checkout, and trading access opens. Most accounts are available within minutes.

Options trading allows defined-risk multi-leg strategies, premium selling, and overnight holds without futures-style settlement. Options Funding is built for options-first traders with rules that allow Level 5 strategies on Growth and a buy-only single-leg path on Express.

Simulated environments let traders prove their edge without your own capital at risk. We carry the firm risk for accounts that pass into Funded and Live. The simulation uses real market data so results map cleanly to live conditions.

You get access to your evaluation account and can start trading right away.

No. There is no time limit.

Yes. Unlimited accounts are allowed.

We offer $25K, $50K, and $100K evaluation accounts.

Growth uses end-of-day drawdown, allows Level 5 options including spreads and undefined risk, has a 12 percent profit target and a 30 percent consistency cap. Express uses intraday drawdown, is buy-only on single-leg long calls and long puts, and has an 8 percent profit target with no consistency cap in Evaluation.

Growth: $418 for $25K, $578 for $50K, $778 for $100K. Express: $298 for $25K, $378 for $50K, $558 for $100K. Monthly subscription. The subscription is refunded when you reach Live.

Yes. Cancel anytime to stop future charges. Access stays active until your current billing period ends.

On purchase and then monthly on the same day. The first charge happens at checkout.

We may retry the charge. If it continues to fail, access pauses until the issue is fixed. Update your card in dashboard billing.

Yes. Payments are processed by Stripe and we do not store full card numbers on our servers. See the Privacy Policy for vendor details.

Fees are generally nonrefundable. Refunds are only considered for billing error, duplicate charge, or a confirmed processing failure. See the Terms page.

The refund is the monthly subscription amount of the plan you reached Live on: $778 (Growth 100K), $578 (Growth 50K), $418 (Growth 25K), $558 (Express 100K), $378 (Express 50K), $298 (Express 25K).

Contact support with your account email and the charge details so we can review it.

Contact support with your account email and the two charge timestamps.

Try logging out and back in. If access is still missing, contact support with your purchase email and payment receipt.

Use the Contact page and include your account email plus any charge timestamp or receipt.

Chargebacks can lead to account suspension and loss of access. If you have a billing issue, contact support first.

Yes. A pending or resolved chargeback can block payouts while our risk team reviews. The cleanest path is to contact support directly for billing issues.

New purchases may be blocked while a chargeback is unresolved. Once the chargeback is closed, contact support to review access.

Funded and Live accounts continue based on rule compliance independently of any active Evaluation subscription. Canceling the Evaluation subscription only stops future Evaluation charges.

Drawdown is your max allowed loss. We use trailing drawdown, which follows your highest account equity. If you touch the drawdown floor, the account is closed.

Growth: 6 percent of account size. Express: 3 percent of account size. In dollars: Growth gives $1,500 (25K), $3,000 (50K), $6,000 (100K). Express gives $750 (25K), $1,500 (50K), $3,000 (100K).

Growth $50K example: starting balance $50,000, trailing drawdown $3,000, drawdown floor starts at $47,000. You finish day one up $2,000 (balance $52,000). End-of-day floor moves to $49,000. You finish day two up another $1,000 (balance $53,000). Floor moves to $50,000. If you give back $3,000 and touch $50,000, the account is closed.

The drawdown floor updates once per day at market close. If you touch it intraday, the account still closes.

The drawdown floor updates in real time as your highest equity changes. If you touch it, the account closes.

In Funded and Live phases, drawdown can lock after you reach the lock balance. See the Rules page.

Once your balance reaches the lock balance, the trailing drawdown stops following you and becomes static at that level. The lock balance is your starting capital ($25K, $50K, or $100K depending on plan). Lock applies in Funded and Live, not in Evaluation.

Some phases limit how much progress can come from a single day. See the Rules page for thresholds by plan and phase.

In Evaluation: no single trading day can be more than 30 percent of your total Evaluation profit. In Funded: no single day can exceed 30 percent of that payout cycle gains. The Express plan has no Evaluation consistency rule. In Funded, Express limits daily gain to 50 percent of cycle gains.

No. You are not disqualified. You simply need more total profit so the big day share drops to or below the cap. Example: a $1,200 day with a 30 percent cap means your total cycle profit must reach $4,000 so $1,200 divided by $4,000 equals 30 percent.

Growth only. If you breach drawdown during Evaluation, you can buy a one-time redemption for $39. Your account resets to the max drawdown level with an extra 1.5 percent of drawdown room. Other rules stay the same. Not available on Express.

No. Redemption is Evaluation only.

No. Redemption is a single-use reset per Evaluation account. If you breach again after redeeming, the account is closed.

No. Redemption resets account value to the max drawdown level with +1.5 percent extra drawdown room. Profit progress toward the target resets.

Consistency measures the share of total profit produced on a single day. A flat or losing day contributes zero to the share and does not push your biggest day over the cap.

Growth: 12 percent of account size. Express: 8 percent of account size. In dollars: Growth gives $3,000 (25K), $6,000 (50K), $12,000 (100K). Express gives $2,000 (25K), $4,000 (50K), $8,000 (100K).

No. You can pass in one day if your trades fit consistency and drawdown.

There is no separate pause feature. If you do not trade, time does not penalize you - there is no time limit to pass. Cancel the subscription only when you are sure you are done; access ends at the billing-period end.

Plans are separate accounts, not toggles. Buy a new plan in the family you want; the original keeps running until you cancel or breach.

Yes. The two families are independent. Each account is tracked on its own rules and drawdown.

Options on whitelisted tickers only. See the ticker whitelist.

/ticker-whitelist has the searchable list. Requests for new tickers go to [email protected].

If the ticker is on the whitelist, yes. SPY and QQQ are typical inclusions; SPX availability varies. Check /ticker-whitelist.

Yes, on supported tickers. Follow the expiration cutoff rules. Expiring positions are auto-closed at 4pm Eastern on expiration day.

Yes. Overnight positions are allowed in every phase on all accounts.

Yes. News trading is allowed.

Expiring positions must be closed before the cutoff time on the Rules page. If you do not, positions are automatically closed at 4pm Eastern to eliminate assignment risk.

Hours and cutoffs follow the market calendar. On early close days, cutoffs can be earlier.

We do not guarantee fills. If you think something is wrong, contact support with your order details.

Yes. Trading is online. If you run into access issues, contact support.

Yes. The platform is online and accessible from a mobile browser. If access is blocked from a location, contact support.

Trading over a VPN is generally allowed but may introduce latency. Some VPN exit nodes are blocked by payment risk controls; if you hit a wall, disable the VPN for the affected action.

Yes. The same account can be open in two sessions, though only one set of orders should be live at a time to avoid conflicting state.

It depends on your plan. Growth allows buy and write strategies, including multi leg strategies. Express is buy only. See the Rules page.

It depends on your plan. Growth allows selling options and undefined risk positions. Express is buy only.

Yes on Growth. Not on Express.

Yes on Growth. Not on Express.

Yes on Growth. Not on Express.

Yes on Growth. Not on Express.

Undefined risk is allowed on Growth. Not on Express. Drawdown still applies, so naked positions must fit within your floor.

Express allows long calls and long puts. You cannot sell options on Express. No credit spreads. No naked shorts.

Level 5 covers the most permissive options approvals at a typical brokerage: long, short, spreads, undefined risk. Growth carries this level. Express is buy-only.

One contract. There is no minimum trade size beyond standard exchange constraints.

Yes. Weekly options on whitelisted tickers are tradable.

Yes. Closing a losing leg and opening a new strike or expiration is a normal multi-leg roll. Standard rules apply.

Yes, on Growth. The platform supports multi-leg order entry, but legging in manually is allowed. Drawdown and consistency rules still apply.

Yes on Growth. Both legs of the condor must be on whitelisted tickers and expiring positions are auto-closed at 4pm Eastern.

Pin risk is when an option closes very near the strike at expiration; assignment is uncertain. Our 4pm auto-close on expiration day removes pin risk on simulated accounts.

Yes. Strike selection is your choice within the whitelisted tickers. Drawdown and consistency rules apply regardless of how far out-of-the-money you trade.

Yes. Trading continues during payout review. Drawdown and rules still apply, so be mindful that a breach can close the account before payout clears.

Request a payout when eligible. We review for rule compliance, then process payment.

You keep 80 percent of profits.

See the Rules page for payout timing.

Only payouts you request and receive are paid to you.

Some accounts have an activation fee deducted from your first payout. See the Rules page.

Funded activation: $149 for 50K and 100K accounts, $99 for 25K accounts. Charged at first payout, not upfront. You never pay activation out of pocket.

Some phases have payout minimums and payout caps. See the Rules page for current limits.

Caps scale across the first four payouts. Growth $100K: 1st $2,000, 2nd $3,000, 3rd $4,000, 4th $6,000. Growth $50K: 1st $1,000, 2nd $1,500, 3rd $2,000, 4th $3,000. Growth $25K: 1st $1,000, 2nd $1,500, 3rd $2,000, 4th $3,000. Express $100K: 1st $2,000, 2nd $3,000, 3rd $4,000, 4th $10,000. Express $50K: 1st $1,000, 2nd $1,500, 3rd $2,000, 4th $5,000. Express $25K: 1st $1,000, 2nd $1,000, 3rd $1,500, 4th $2,500.

Growth and Express: $2,000 (100K), $1,000 (50K), $500 (25K).

After your first payout, the next payout request requires your balance to be at least $1 above the previous post-payout balance. Example: post-payout balance $51,000 after payout one; next payout requires balance at $51,001 or higher.

Rule violations, missing KYC or tax info, or payout details that do not match can delay or reject a payout.

Yes. Payouts can be held for compliance, KYC, tax verification, or payment risk review.

Approved payouts typically clear within a few business days, sometimes faster. If it has been longer, contact support with your payout ID and approval date. Bank or wallet delays are common at month-end.

Yes. Update your payout details in dashboard billing before submitting the next request. Changes to a pending or approved payout are not supported once submitted.

Payouts can be held until details are reconciled. Update your payment information to match the name and address on your verified ID, then contact support so the hold can be reviewed.

Yes. Payouts are based on account state, not your location. Some banking corridors may delay clearing; verify your destination bank supports inbound transfers.

You can ask for a review by replying to the rejection email. We re-check the rule against the account log; if the rule did fire, the rejection stands.

To verify your identity and prevent fraud. It is required before we send funds.

Before your first payout. In some cases, it may also be required before certain purchases or account changes.

A valid government issued photo ID and a camera.

Usually a few minutes. Some checks require manual review and can take longer.

Yes. Trading can continue, but payouts and some actions can be blocked until KYC is completed.

We may ask you to reverify if the first attempt is unclear or details changed.

Use good lighting, a clear camera, and an unexpired ID. If it still fails, contact support.

US taxpayers usually submit a W-9. Non US taxpayers usually submit a W-8BEN or equivalent.

If you are a US taxpayer and receive $600 or more in payouts in a calendar year, you may receive Form 1099-NEC. Forms are typically issued by Jan 31 for the prior year.

Usually, no. Non US taxpayers typically do not receive US 1099 forms.

If payout fees apply, your 1099 may reflect a gross amount. If you are unsure how to file, talk to a tax professional.

Check your spam folder. If you meet the threshold, contact support.

Yes. Tax reporting is based on payouts you receive, regardless of phase.

No. Traders are not employees.

Generally, report payouts received as income. Options Funding does not provide tax advice.

We generally do not withhold taxes. If required by law, we may withhold.

See the Terms page for KYC and tax requirements.

We operate an AML and Counter-Terrorism Financing program with KYC, ongoing transaction review, PEP and sanctions screening, and recordkeeping. See the Privacy Policy for related vendor and data details.

Yes. We screen against major sanctions lists and politically exposed persons databases. Hits are reviewed before payouts.

Yes. We do not accept traders located in jurisdictions subject to comprehensive US sanctions. KYC verification will flag restricted locations.

Currently the program is designed for individual traders. Entity-based participation is not standard. Contact support if you have a specific structural question.

Each trader account must use a unique identity for KYC and payout. Sharing payment cards across distinct trader accounts is flagged by our payment risk controls.

A real brokerage account with real buying power, not simulated trading.

Meet the live requirements on the Rules page. We may require additional verification before moving you to live.

Live transition is determined by Options Funding based on account performance and compliance.

Yes. Live payout rules can be different. See the Rules page for current live rules.

No caps in Live. No minimum payout in Live beyond the platform $100 floor.

Growth Live: 6 percent of account size. Express Live: $10,000 (100K), $5,000 (50K), $2,500 (25K). Drawdown mode in Live is End of Day for both families.

Yes. Trading is online. If you run into access issues, contact support.

No. It is a firm-funded trading arrangement. The firm carries the buying power.

Growth Live: 6 percent of account size. Express Live: $10,000 (100K), $5,000 (50K), $2,500 (25K). Drawdown mode in Live is End of Day for both families.

$100, with no cap.

If you breach drawdown in Live, the account closes. There is no Redemption in Live.

A breached Live account ends that account permanently. You can purchase a new Evaluation account and start again. Past performance does not carry over.

Yes. News trading is allowed in every phase, Live included. The same drawdown and consistency rules apply.

Rix Trade. A web-based options trading platform with full options chains, multi-leg order entry, and live position management.

The platform is web-based and works on modern browsers.

The platform is accessible from any mobile browser. Native app availability depends on platform release.

Yes. Each account has its own ID visible in the dashboard.

Yes. The dashboard exposes trade history and a journal export.

Charting is provided in the platform. Strategies built on TradingView signals can be executed manually in the platform.

Live market data feeds the platform. Data quality matches what you would see at a typical options broker.

Hotkey support depends on platform features in Rix Trade.

API access is not standard for evaluation accounts. Contact support for any automation question.

If the platform is down for a sustained period, contact support. We do not penalize traders for outages caused by our platform.

The maximum loss your account can take before it is closed. We use trailing drawdown that follows your highest equity.

A drawdown floor that moves up as your equity sets new highs. Once you reach the lock balance, the floor stops trailing and becomes static.

The lowest equity your account can finish at before it is closed. Same idea as max loss limit.

The point at which trailing stops. Applies in Funded and Live. The lock level equals your starting capital.

A drawdown mode that updates the floor at market close. Intraday spikes do not raise the floor. A touch of the floor intraday still closes the account.

A drawdown mode that updates the floor in real time. Used on Express.

The amount of profit required to advance from Evaluation to Funded. Growth: 12 percent. Express: 8 percent.

A rule that limits how much of your gains can come from one trading day. Growth: 30 percent. Express: 50 percent in Funded, none in Evaluation.

Growth only. A one-time $39 reset after a drawdown breach in Evaluation, with 1.5 percent extra drawdown room.

A funded-account activation cost charged only at first payout: $149 (50K and 100K) or $99 (25K). Never charged out of pocket.

The account balance immediately after your most recent payout. The next payout requires balance to exceed this number by at least $1.

The trigger balance at which the trailing drawdown stops moving. Equals starting capital ($25K, $50K, or $100K).

The subscription amount returned when you reach Live: $778, $578, $418, $558, $378, or $298 depending on plan and size.

A restriction on Express accounts that limits trades to single-leg long calls and long puts only.

The phase after passing Evaluation. The firm carries the simulated capital risk. Payout caps and minimums apply.

The phase after Funded. Real buying power, no payout caps, no minimum payout beyond platform settings, and any payout snaps the drawdown floor to starting capital.

Zero days to expiration. Options that expire on the same trading day.

A trade made up of two or more options contracts, such as a vertical spread, iron condor, butterfly, calendar, or diagonal.

A two-leg options trade with the same expiration and different strikes. Debit spreads pay to enter; credit spreads receive a credit on entry.

A four-leg options trade combining a bull put spread and a bear call spread. Profits when the underlying stays in a range.

A three-strike options trade that profits when the underlying lands at the middle strike.

A two-leg options trade with the same strike and different expirations.

A two-leg options trade with different strikes and different expirations.

A trade where the maximum loss is not capped by the structure itself. Example: short naked call. Allowed on Growth, not on Express.

The market forward-looking estimate of how much the underlying will move, expressed as an annualized percentage.

The obligation to deliver or buy the underlying when a short option is exercised against you.

Know Your Customer. The process of verifying a trader identity before payouts.

Anti-Money Laundering. Policies and procedures to detect and prevent illicit financial activity.

Counter-Terrorism Financing. Screening and recordkeeping designed to prevent financing of terrorism.

Politically Exposed Person. A category of individuals subject to enhanced KYC review due to public office.

US tax form used by US taxpayers to provide a taxpayer identification number.

US tax form used by non-US taxpayers to claim treaty benefits and report foreign status.

US tax form reporting non-employee compensation. Issued when a US taxpayer receives $600 or more in a year.

The rate an option loses value per day from time decay, all else equal. Long options have negative theta; short options have positive theta.

The rate of change of an option price relative to a $1 move in the underlying. A 0.50 delta call gains roughly $0.50 when the underlying gains $1.

The rate of change of delta relative to a $1 move in the underlying. Gamma is highest near the money and on shorter-dated options.

The rate of change of an option price relative to a one-point change in implied volatility. Long options have positive vega.

The rate of change of an option price relative to a one-point change in interest rates. Usually small for short-dated options.

The in-the-money portion of an option price. For calls, max of (underlying - strike, 0). For puts, max of (strike - underlying, 0).

The portion of an option price beyond intrinsic value. Includes time value and volatility premium. Decays to zero at expiration.

A normalized measure of where current implied volatility sits between the 52-week low and high, expressed 0 to 100.

The gap between the highest price a buyer will pay and the lowest price a seller will accept. Wider spreads cost more to enter and exit.

The total number of outstanding contracts for a given strike and expiration. Higher open interest typically means tighter spreads.

An order to buy or sell at a specified price or better. Will not fill at worse prices, may not fill at all.

An order to buy or sell immediately at the best available price. Fills fast but exposes you to slippage.

An order that triggers a market or limit order when the underlying hits a specified price. Common for risk management.

The difference between the expected fill price and the price your order actually executes at. Wider on illiquid options.

Execution of an order. A partial fill means only part of the requested size traded.

When the holder of an option uses their right to buy (call) or sell (put) the underlying at the strike. Long-option holder action.

When a short American-style option is exercised before expiration. Risk for sellers of in-the-money options, particularly near dividends.

An option that can only be exercised at expiration. SPX and most index options are European-style; no early-assignment risk.

An option that can be exercised at any time before expiration. Equity and ETF options are American-style.

The price at which an option can be exercised. A $450 call gives the holder the right to buy the underlying at $450.

The date an option contract terminates. After expiration, the contract has no value. US listed options expire on Fridays unless dated otherwise.

A call with strike above the underlying, or a put with strike below the underlying. No intrinsic value.

A call with strike below the underlying, or a put with strike above the underlying. Has intrinsic value.

An option with strike approximately equal to the current underlying price.

A butterfly variant where the wings are unequal distance from the center strike. Skews the risk profile in one direction.