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Understanding Payouts at R21
Understanding Payouts at R21
Updated over a week ago

Overview

Attention, Traders! Unlock the secrets of Rocket 21's payout system with our in-depth guide. From seasoned space cadets to those just setting sail, we've assembled the essential knowledge on payout timings, withdrawal methods, verification requirements, and beyond!

To initiate your payout process, traders need to submit an invoice through the Dashboard > Payouts tab.

Effective December 21, 2023, Wise (TransferWise) is no longer available as a payout option. For those anticipating a pending payout through Wise, you will now be able to request your payout through crypto through your Dashboard. You will receive an email with further instructions. For those seeking an alternative method to Cryptocurrency, we will be providing an update on new payout options soon.


Payout Requests:

Eligibility for Payouts

  1. Simulated Traders must have Rocket 21 Funded Demo Accounts to be eligible for payouts.

  2. Only those eligible for withdrawal can submit a withdrawal request for payouts.

  3. The minimum crypto payout is $25 and there is no limit on the maximum Crypto payout (total payout, which includes any challenge bonuses).

  4. Once you request a payout, your simulated account will be enabled almost immediately, allowing you to continue placing simulated trades without any delay. Should you find that your account isn't enabled within a few minutes after making a payout request, please don't hesitate to contact us.

How to Submit an Invoice

  1. Log in to your Rocket 21 Funded Demo Accounts on the trading platform.

  2. Navigate to your Dashboard.

  3. Click on the "Payouts" option on the dashboard menu.

  4. Click "Request withdrawal", and select BTC(BTC), Ethereum/ETH (ERC-20), USDT (ERC-20), and USDC (ERC-20). insert your unique crypto wallet ID.

Please keep in mind you must send via the ERC-20 chain for USDT, USDC, and ETH, otherwise your funds will be lost on the blockchain and we will not be able to recover them. ​Wallets that are unique to each customer are required for a successful cryptocurrency payout, sharing wallets with other customers is not allowed.

Payout Review Process

  1. After submitting the payout request, the trader's account will undergo a thorough review.

  2. The review process will be followed as usual and done in sequential order in which the requests are received.

  3. During the review, the simulated trader's trading performance and compliance with the platform's guidelines will be assessed.

Processing the Payout

  1. Once the review is completed and approved, the payout will be processed.

  2. The funds will be transferred to the trader's designated payout account or payment method.


First and Future Payout:

First Payout:

  • 30 days since the first trade has been placed. (Standard, Regular, & Swing Challenges)

  • 14 days since the first trade has been placed. (Apollo 11 Challenge)

Future Payouts:

  • Following the initial payout, traders become eligible for future payouts on a bi-weekly basis (every 14 days).


Eligibility Criteria:

  • To be eligible for a payout, traders must not have any open virtual positions or virtual orders at the time of the withdrawal request.

By understanding the payout schedule and eligibility criteria, traders can efficiently manage their earnings and plan for regular payouts. Adhere to the withdrawal guidelines to ensure a smooth payout process and timely receipt of earnings.

Note: To be eligible for a payout, no positions or orders can be open. Your account will be placed in read-only when your withdrawal request is submitted.

Identity Verification and Eligibility for Payouts

  • Verification Requirements:

    • A trader must complete the identity verification process before becoming eligible for any payouts.

  • Documents to Submit:

    • Government-issued ID: A valid ID, such as a driver's license or passport, must be submitted.

    • Proof of Address: A document showing the trader's address, dated within the last 60 days, is required.

    • Funded Trader Agreement: The trader needs to submit a signed Funded Trader Agreement.

  • Purpose of Verification:

    • Identity verification is essential to ensure the trader's authenticity and compliance with regulations.

  • Eligibility for Payouts:

    • Once the identity verification process is completed and all required documents are submitted, the trader becomes eligible for payouts.

Note: For a smooth and efficient verification process, traders should ensure that the submitted documents are clear, valid, and meet the specified requirements.​


Payout Methods

We offer the following payout methods for our simulated funded traders:

  • Crypto - See the detailed 'Crypto Payouts' section below for more information.

Cryptocurrency Payouts:

  • Rocket 21 offers cryptocurrency payouts to all the simulated funded traders. Each simulated funded trader can request a payout directly from their dashboard.

  • Login to your account and click on the "Dashboard", proceed to " Payouts" and hit "Request withdrawal", select (BTC), Ethereum/ETH (ERC-20), USDT (ERC-20), and USDC (ERC-20). Type in your unique crypto wallet ID (keep in mind it should be an ERC-20 chain for USDT, USDC, and ETH).

  • Select the amount you want to withdraw and submit your request by filling out all the required fields to submit your request successfully.

  • Supported Cryptocurrencies: R21 supports a range of cryptocurrencies, such as Bitcoin (BTC), Ethereum/ETH (ERC-20), USDT (ERC-20) and USDC (ERC-20).

  • The minimum crypto payout is $25 and there is no limit to the maximum Crypto payout (total payout, which includes Challenge bonuses).

  • Our dedicated payouts team will review each request individually and process your request within 24 business hours.

Associated Fees with Crypto Payouts

At Rocket21, we strive to provide transparent information about the fees associated with crypto payouts to ensure our users have a clear understanding of the entire process. There are three main fee components that customers requesting payouts via crypto should be aware of:

  1. Conversion Fee from USDC to Desired Withdrawal Currency: When converting your crypto holdings from USDC to your desired withdrawal currency, a conversion fee may apply as per your exchange. This fee is influenced by market conditions and is subject to change. Note: This conversion fee is not controlled by R21, but by the exchange.

  2. Blockchain Network Fees: Cryptocurrency transactions on blockchain networks involve network fees to facilitate secure and timely transactions. These fees are dynamic and depend on network congestion. Users should be aware that blockchain fees may vary, and they are not controlled by R21.

  3. Platform Withdrawal Fees: The crypto exchange you are utilizing may charge a withdrawal fee for processing and managing the withdrawal request. This fee is to cover operational costs associated with ensuring a smooth and secure withdrawal process. Note: This withdrawal fee is not controlled by R21, but by the exchange.

Important Notes:

  • Please share your Own Crypto Wallet only for the payouts. No two traders should have the same crypto wallet, which would result in the rejection of their request.

  • Traders with Rocket 21 Funded Demo Accounts can benefit from crypto payouts that operate via blockchain.

  • Wallets unique to each customer are required for a successful cryptocurrency payout.

  • We'll process all payout requests within 24 business hours of the payout date. Note that weekends and holidays are not considered business days. We will only accept payout requests made through your dashboard.


Your success is our priority, and we want you to know that our dedicated support team is here for you around the clock. Have questions, or concerns, or just seeking guidance? Simply click the chat button below, and our team will be ready to assist you promptly. Your Rocket 21 space journey is important to us, and we're here to ensure you have the support you need whenever you need it.

Congratulations on your payout and happy trading space cadet!


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