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.
02$5
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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No. Demo account funds are virtual and cannot be withdrawn.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 a percentage of your starting balance for the day. The exact percentage depends on the plan you select.
If your losses exceed the daily drawdown limit, your account will be terminated.
The maximum lifetime drawdown (also known as total drawdown) is a percentage of your initial account balance. This limit varies by plan.
For certain plans, the drawdown limit is static, while for others (such as Instant Funding accounts), it may be trailing, adjusting as your balance grows.
Once your equity falls below the drawdown threshold for your plan, 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.
