Frequently Asked Questions
Accounts and Billing
What is Strix Options?
An options trading evaluation program. Pass a simulated evaluation to qualify for performance-based rewards and potentially advance to a live account.
What happens when I buy an account?
You get access to your evaluation account and can start trading right away.
Is there a time limit to pass the evaluation?
No. There is no time limit.
Can I have more than one account at once?
Yes. Unlimited accounts are allowed.
What account sizes are available?
We offer $25K and $50K evaluation accounts.
Billing, Refunds, and Chargebacks
Can I cancel my subscription?
Yes. Cancel anytime to stop future charges. Access stays active until your current billing period ends.
Do you offer refunds?
Fees are generally nonrefundable. Refunds are only considered for billing error, duplicate charge, or a confirmed processing failure. See the Terms page.
I canceled but got charged. What should I do?
Contact support with your account email and the charge details so we can review it.
I was charged twice. What should I do?
Contact support with your account email and the two charge timestamps.
My payment went through but I do not have access. What now?
Try logging out and back in. If access is still missing, contact support with your purchase email and payment receipt.
What happens if I file a chargeback?
Chargebacks can lead to account suspension and loss of access. If you have a billing issue, contact support first.
What is the fastest way to fix a billing issue?
Use the Contact page and include your account email plus any charge timestamp or receipt.
Drawdown and Consistency
Where do I find the exact rules?
The Rules page.
What does “drawdown” mean in plain English?
Drawdown is your max allowed loss. If you touch the drawdown floor, the account is closed.
How does end of day drawdown work?
The drawdown floor updates once per day at market close. If you touch it intraday, the account still closes.
How does intraday drawdown work?
The drawdown floor updates in real time as your highest equity changes. If you touch it, the account closes.
Do you have a consistency rule?
Some phases limit how much progress can come from a single day. See the Rules page for thresholds by plan and phase.
Does drawdown ever stop trailing?
In funded and live phases, drawdown can lock after you reach the lock balance. See the Rules page.
Trading
What can I trade?
Options on whitelisted tickers only. See the ticker whitelist.
Can I trade 0DTE options?
Yes, on supported tickers. Follow the expiration cutoff rules on the Rules page.
Can I trade spreads or multi leg strategies?
It depends on your plan. Strix allows buy and write strategies, including multi leg strategies. Express is buy only. See the Rules page.
Can I sell options?
It depends on your plan. Strix allows selling options and undefined risk positions. Express is buy only. See the Rules page.
Can I hold positions overnight?
Yes. Overnight positions are allowed.
What happens if I do not close an expiring position?
Expiring positions must be closed before the cutoff time on the Rules page. If you do not, positions are automatically closed to eliminate assignment risk.
Can I trade big news (CPI, FOMC, earnings)?
Yes. News trading is allowed.
I placed a trade and it did not fill the way I expected. What can I do?
We do not guarantee fills. If you think something is wrong, contact support with your order details.
What happens on market holidays or early closes?
Hours and cutoffs follow the market calendar. On early close days, cutoffs can be earlier.
Rewards and Payments
How do rewards work?
Request a reward when eligible. We review for rule compliance, then process payment.
What can delay or reject a reward?
Rule violations, missing KYC or tax info, or details that do not match can delay or reject a reward.
What is the reward split?
You receive 80% of simulated gains.
When will I receive my reward?
See the Rules page for reward timing.
Is there an activation fee?
Some accounts have an activation fee deducted from your first reward. See the Rules page.
Are there reward caps or minimums?
Some phases have reward minimums and reward caps. See the Rules page for current limits.
How is my reward calculated?
Only rewards you request and that are approved are paid to you.
Can my reward be held for review?
Yes. Rewards can be held for compliance, KYC, tax verification, or payment risk review.
KYC and Taxes
Why do I need to complete KYC before a reward?
To verify your identity and prevent fraud. It is required before we send payment.
When do I need to complete KYC?
Before your first reward. In some cases, it may also be required before certain purchases or account changes.
What do I need for KYC?
A valid government issued photo ID and a camera.
How long does KYC take?
Usually a few minutes. Some checks require manual review and can take longer.
Can I keep trading if my KYC is not completed yet?
Yes. Trading can continue, but rewards and some actions can be blocked until KYC is completed.
Why am I being asked to verify again?
We may ask you to reverify if the first attempt is unclear or details changed.
My identity verification failed. What should I do?
Use good lighting, a clear camera, and an unexpired ID. If it still fails, contact support.
What tax form do I need to complete?
US taxpayers usually submit a W-9. Non US taxpayers usually submit a W-8BEN or equivalent.
Will I receive a 1099?
If you are a US taxpayer and receive $600 or more in rewards in a calendar year, you may receive Form 1099-NEC. Forms are typically issued by Jan 31 for the prior year.
I am not a US taxpayer. Will I get a 1099?
Usually, no. Non US taxpayers typically do not receive US 1099 forms.
Will the 1099 show my gross or net reward amount?
If reward fees apply, your 1099 may reflect a gross amount. If you are unsure how to file, talk to a tax professional.
I think I should have received a 1099 but I did not. What should I do?
Check your spam folder. If you meet the threshold, contact support.
Will I get tax forms for funded rewards too?
Yes. Tax reporting is based on rewards you receive, regardless of phase.
Am I an employee of Strix?
No. Traders are not employees.
How should I report my rewards?
Generally, report rewards received as income. Strix does not provide tax advice.
Do you withhold taxes from rewards?
We generally do not withhold taxes. If required by law, we may withhold.
Where are KYC and tax requirements defined?
See the Terms page for KYC and tax requirements.
Going Live
What does live mean?
The most advanced program stage with full buying power and enhanced reward eligibility.
How do I go live?
Meet the live requirements on the Rules page. We may require additional verification before moving you to live.
Do rewards change in live?
Yes. Live reward rules can be different. See the Rules page for current live rules.
Can I trade while traveling?
Yes. Trading is online. If you run into access issues, contact support.