1. When the Funded Trader reaches the Profit Target, LCT will distribute 50% of that target to the Evaluation Trader in a single lump sum payment, either upon passing the evaluation or upon expiration of the evaluation account.
2. If the Funded Trader breaches any funding terms and conditions, no profit split will be awarded.
3. Unless otherwise agreed upon by LCT, the 50% profit share will be returned to the original payment method used.
4. All trading costs, spreads, commissions, and overnight swaps will be subtracted from the profit share.
5. Any profits earned through violations of Risk Management Policies will be removed from the final net profit, and the same amount will extend the Profit Target.
6. The Profit Target is expressed in net USD amount, not as a percentage.
Profit Withdrawal Schedule for Portfolio Managers and Direct Funded Traders:
1. Portfolio Managers at levels 3 and above can request weekly withdrawals every Friday.
2. Portfolio Managers at levels 1 and 2 can request monthly withdrawals during the last 5 days of each calendar month.
3. Withdrawals will not impact the account growth, and no compensation is required from the funded trader.
4. LCT will pay the net profit share of the Profit Target in USD to the Portfolio Manager as long as the funded account is in net profit at the time of withdrawal.
5. The profit share will be refunded to the original payment method unless otherwise agreed upon by LCT.
6. Once the net profit exceeds the original payment amount, the profit share can be paid using Transferwise, PayPal, or bank transfer.
7. All trading costs will be subtracted from the profit share, including spreads, commissions, and overnight swaps.
8. Any profit that violates LCT's terms and conditions will be considered ineligible and deducted from the final net profit.
9. The Profit Target is defined as the net USD amount, not a percentage.
Instructions for Withdrawing Profits:
To request a withdrawal, please email funding@londoncitytrading.com and include your account number and the amount you wish to withdraw. Any profit share percentage paid out to the Portfolio Manager will be deducted from the account balance, but this will not affect the profit target. LCT will also withdraw its profit share at the same time as the Portfolio Manager's withdrawal.
Example:
A Portfolio Manager on a $50,000 funded account has a profit target of $5,000 (10%). If, in a given month, the PM50 makes a profit of $2,500 , bringing the account balance to $52,500; the PM50 can choose to:
withdraw the full amount,
withdraw a partial amount, or
keep the funds as an extra buffer against drawdown for the current level.
After withdrawal, the PM will only have to make the remaining $2,500 to complete the Profit Target objective, which is $5,000 in total profit made. LCT will not penalise the PM for withdrawing gradually as they profit.
If the PM requests a $2,500 profit share withdrawal ($5000 x 50%), LCT will also withdraw its $2,500 Profit Share ($5000 x 50%) from the funded account. As a result, the account balance will be reduced to $50,000, and the trader's Stop Out level will remain at $47,500.
