V7.10.0 - Introducing New Commission Schemes for Prop Trading Challenge Fee

Learn about all the details of all our recent CRM updates here.

Released Date - 18 April 2024

Version 7.10.0 brings about major updates to the commission options for Prop trading challenges. Now, you have the flexibility to customize your prop challenge fee payout structure based on Rank Commission, Overriding Commission or Same Rank Bonus, allowing a host of options to attract and retain your referrers.

Summary

1. New Challenge Fee Payout Schemes

   • Rank Commission: Tailor rewards based on referral tier levels, motivating your referrers to ascend to higher tiers for increased incentives. This approach fosters active engagement and encourages referrers to strive for progression within the network.

   • Overriding Commission: Offer additional commissions to referrers who actively contribute to network growth by introducing other referrers, building a passive income stream. This scheme encourages organic expansion, amplifying the network's reach and impact.

   • Same Rank Bonus: Incentivize referrers to take on a leadership role in guiding and helping their downlines advance to higher tiers, while earning additional bonuses in the process. This motivates referrers to actively foster growth within their network, ultimately bringing more business to you.

2. Option to Include Participants in Challenge Fee Payout Schemes

   • Flexible Configuration: You can now specify whether your challenge fee commissions should be paid out to participants alongside referrals or exclusively to referrals.

   • Updated Interface: Enjoy a more intuitive experience in configuring challenge fee commissions, making it effortless to set up payouts for the intended recipients.

New Challenge Fee Payout Schemes

In this update, we've introduced Rank Commissions, Overriding Commissions, and Same Rank Bonuses, allowing you to configure them for prop challenge fee commission payouts.

Setting Up Commissions

To configure these commissions, follow these steps:

Step 1

1. Go to Prop Trading > Challenge Settings.

2. Find the Prop Challenge you want to set up commissions for and click the "Settings" icon.

   
3. Find the package to amend and click "Edit."

   
4. Go to the "Participation Fee Commission" step.

   

Step 2

1. Choose your commission structure: Level or Rank.

2. If Rank is selected, choose the applicable "Rank Structure."

3. Opt to "Include Challenger" if you want to pay out commissions to the prop challengers.

4. Select the commission calculation method: Fixed Amount or Percentage of Participation Fee.

   

Step 3

For Level Structure:

1. Add the number of levels for commission payouts by clicking the "Add" icon.

   
2. Enter the commission amount.

3. If "Include Challenger" is selected, the first level defaults to the challenger.

   
4. To setup overriding commission and same rank bonus, you will need to select a "Rank Structure".

5. Set up overriding commission and same rank bonus under the respective tabs.

6. Click "Save".

   

Step 4

For Rank Structure:

1. The tiers for the selected rank structure will be displayed automatically.

2. Enter the commission amount for each tier.

3. Configure overriding and same rank commission accordingly.

4. Save your settings.

   

Commission Report

The report has been updated to include data for overriding commissions, same rank bonus, and total commissions.