Find clear answers about our challenges, rules, and payouts.
Quick answers to questions we hear most often
Options trading means predicting the price movement of an asset within a set time frame. For example, if you believe the price of an asset will rise within a day and open a Call position, you profit if your prediction is correct. If not, you lose the invested amount.
01Tax rules vary by country. In some countries, trading profits may be tax-free, while in others, you are required to report and pay taxes. Please check the tax regulations in your country before trading.
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No. Each trader can only have one CloseOption account, and only the account owner is authorised to
trade. You cannot sell or share your account.
However, if you insist on opening another account
and provide a valid reason, CloseOption's technical team may review your request. In such cases,
your previous account will be permanently closed.
No. Demo account funds are virtual and cannot be withdrawn.
05Select a category to view related questions
There is no entry fee to join CloseOption contests.
01If your contest balance reaches under $1000, you can purchase recharge packages to continue competing.
02No. Verification is not required to participate in contests. However, winners must verify their accounts before they can withdraw their prizes.
03Yes. Once the prize is credited to your CloseOption account, you can withdraw it (KYC is required for withdrawal).
04Contest prize withdrawals are processed like normal withdrawals and usually take up to 3 business days.
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The maximum daily drawdown is 5%, calculated from your highest balance (All-Time High or ATH) reached
during the same trading day.
For example, if you start your day with $10,000 and your balance reaches $20,000, your 5% limit is
calculated based on $20,000, meaning you cannot lose more than $1,000 that day.
If your losses exceed 5% of your daily ATH balance, your account will be terminated.
The maximum lifetime drawdown (also known as total drawdown) is 10% of your initial account balance.
This limit is static for 1-Phase, 2-Phase, and Rapid Challenge accounts. For Instant Funding accounts,
the drawdown is trailing, meaning it adjusts upward as your balance grows.
Once your equity falls more
than 10% below your starting balance, your account is considered breached.
Yes. Completing the KYC (Know Your Customer) process is mandatory before withdrawals can be processed.
KYC helps verify your identity, prevent fraud, and ensure compliance with AML (Anti-Money Laundering)
and CTF (Counter-Terrorism Financing) regulations.
After completing Step 2, submit a support ticket for review. Once approved, you’ll receive your funded account, and your signup fee will be refunded on your first withdrawal (excluding discounts).
04Yes. Accounts can be scaled up to $1,000,000 based on consistent performance, disciplined risk management, and adherence to all trading conditions.
05Submit a ticket or read our full trading rules documentation for more detailed information.
