Funding Pips has shared an enhancement to its payout system by integrating Rise as a primary method for processing payouts. Effective immediately, the firm shared a tiered approach to payouts: transactions below $500 will be executed through cryptocurrency. At the same time, those exceeding $500 will utilize the versatile Rise platform, accommodating both bank transfers and cryptocurrency transactions.
The decision to adopt Rise stems from Funding Pips’ commitment to streamlining processes and ensuring traders’ compliance with their respective tax authorities. The automation capabilities of Rise is going to bring greater efficiency to the payout system, providing traders with a seamless and reliable experience.
Funding Pips & Rise- A New Payout Processor
In simple words, Funding Pips has shared the following information:
For payouts:
Payouts below 500$ will be processed through crypto.
Payouts above 500$ will be processed via Rise.
Rise supports both bank transfer and crypto.
Reasons for using Rise:
Automating the payouts.
They are making sure that their traders are compliant with their respective tax authorities.
Funding Pips acknowledges the importance of maintaining global accessibility. In cases where Rise does not support a specific country, the firm assures traders that payouts will still be processed through cryptocurrency. This will maintain a commitment to a frictionless experience for all users.
This move represents Funding Pips’ dedication to innovation in the prop industry. The integration of Rise not only offers efficiency gains but also aligns with the firm’s emphasis on transparency and tax compliance and provides diverse payout options for its community of traders. Lastly, Funding Pips encourages traders to explore the new features facilitated by Rise, anticipating that this development will set a new standard in the prop trading landscape.
About the Firm
Funding Pips believes that traders progress through three key stages in their professional journey. To evaluate trading talents and provide support in overcoming funding challenges, they have also developed a two-phase evaluation followed by a funded phase, where traders will become eligible for significant capital.
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