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TradeDay

TradeDay

Coupon Code:

Get Started

Cost

$150-$325

Free Trial

Yes, 14 Day (no credit card required)

Instruments

Equity Indexes, FX pairs, Oil, Metals, Currencies, Commodities, Bonds

Current Best Deal

20% OFF

Days to Funding

15

Education provided?

Yes

Multiple Accounts

No

Highlights

14 Day Free Trial, beginner and advanced educational courses, no monthly fees for funded traders

What is TradeDay?

TradeDay is a fairly new trader funding program looking very promising quickly. The TradeDay is a funded futures program looking to stand out from the competition with their actual live funding from day one once you pass. In addition, their website highlights that they Guarantee to fund you once you pass your Evaluation Challenge.
TradeDay’s extensive educational offering and its desire to grow with traders by allowing you to scale up your trading size as your account grows. To make things even more enticing, they offer a 14 Day Free Trial to get your feet wet and get familiarized with the platform.
The company was established in 2020 and is headquartered in Downtown Chicago, with presence spanning as far as UK. The founders of TradeDay prop firm are James Thorpe and Steve Miley who have immense financial industry experience.

TradeDay Trader Funding Update - March 2023

TradeDay has launched a new website and introduced new programs, incorporating feedback from traders, partners, and the broader trading community to meet market expectations and remain the preferred choice for traders seeking funding.
Key improvements for new and existing members include:
  • New evaluation plans for new members featuring higher profit targets, tighter Trailing Max Drawdown (TMD), no daily stop-loss limits, and larger fixed position limits.
  • Minimum trading days for new traders reduced from 15 to 10.
  • Enhanced payouts for funded traders, with 100% of the first $10K profit and 90% after that.
  • Six different funding levels are available, offering more choices.
  • A $39/month plan for traders who value TradeDay’s tools and resources but don’t require funding.
Get 20% Discount

Pricing and Evaluations

Beginner Program

Leverage

$50,000

Max Position Size

2 lots, adding 1 lot for every $1000 in the trading account

Profit Target

$2,000

Trailing Drawdown

$1,500

Daily Stop Loss Limit

$500

Monthly Fee

$150

Get Started

Advanced Program

Leverage

$100,000

Max Position Size

4 lots, adding 1 lot for every $1000 in the trading account

Profit Target

$4,000

Trailing Drawdown

$3,000

Daily Stop Loss Limit

$1,000

Monthly Fee

$325

Get Started

TradeDay Beginner Program

These will provide you with everything you need to be funded. In addition, this will teach you everything you need about futures markets and give you the tools to develop your strategies. It also provides mentoring resources that will help you grow as a trader.
With Beginner Program, you get full access to the following TradeDay features:
  • Full access to the TradeDay community
  • Full access to the education resources
  • Full access to the trading platform
  • Full access to the Trader Development section
  • Full access to the research
  • Evaluation and live account with our standard risk limits

TradeDay Advanced Program

If you aren’t a beginner and are looking for greater risk limits, you should consider the Advanced Program offered by TradeDay. Perhaps you feel like you could benefit from one-on-one sessions with the founders of TradeDay.

With Advanced Program, you get full access to the following TradeDay features:

  • All the features that are available to the Beginner
  • Optional 50-minute one-on-one mentoring session every month for the lifetime of the Evaluation Challenge
  • Evaluation and live account with double the daily loss and drawdown limits of the Beginner
  • Evaluation and live account with double the position size limits of the Beginner

TradeDay Multiple Accounts

They do not allow multiple accounts. Instead, they fund you with their capital. They would prefer to see traders grow their accounts and trade more size than signing up for multiple accounts that will limit their trading abilities.

TradeDay Software Packages Available

TradeDay will allow you to connect through Tradovate. This is a unique feature as many companies currently offer NinjaTrader. Tradovate is a great tool for traders because it’s easy to use, simple to learn, and has a very user-friendly interface. It is also web-based. You can use it on a PC, Mac, mobile phone, or tablet. You can either use Tradovate natively or in a web browser.
You will also be using Tradovate and a CQG feed. Although Rithmic is the preferred data collection method for most companies, Rithmic has become more unstable over time. Therefore, CQG will be your data feed.
Your software can be used. For example, I love Jigsaw Daytradr, so I connect Jigsaw with my TradeDay network and use Tradovate as a backup. Tradovate can be used for as long as you want, even after it is funded.

Details and Evaluation Rules

These are some of the basic rules. Make sure you read their specific rules.
  • The obvious one: make money and be consistent
  • 1 Step Evaluation
  • Trade for 15 days
  • You can only trade the products that are permitted
  • Trailing drawdown is calculated at the end and not between trades. Traders get a huge benefit.
  • Don’t exceed the Daily Loss Limit
  • Close all of the positions out before the market closes each day
  • Follow the scaling plan and do not exceed your permitted position size
This may seem overwhelming if you’re new to trading. However, you should read their FAQs thoroughly to understand what you are getting into.

Rules for a Funded Account

These general rules will apply to the evaluation. As you build up your balance, you’ll return to scaling. Every $1,000 you earn in profit will be converted into a contract you can trade.

Funded account fees

TradeDay is the only firm that doesn’t charge a dime for your pass. There is no setup fee, and there is no withdrawal fee. There is one caveat: if you withdraw less than $500, they will charge the bank fee to cover the cost. There are no setup fees or ongoing fees. Traders will enjoy a huge benefit.
However, you will need to pay a data fee because once funds have been received, you are considered a professional trader.

Funded account withdrawal frequency & methods

TradeDay allows you to withdraw whenever and wherever you want! There are no minimum trading days or restrictions on how often you may withdraw. However, it can take up to 7 days for withdrawals to be processed. It is free if the withdrawal or payout exceeds $500. To discourage withdrawals of small amounts, banks will charge a fee if the amount is less than $500.

Pros

  • 1 step evaluation
  • Tradovate is available as software
  • CQG data feed
  • There are no fees after funding – there is no setup fee and no ongoing fee
  • Live-funded account starting at day 1, no “sim alive.”
  • You can withdraw as many times as possible, starting on day one. There are no waiting lists or catches
  • Not after every trade, but at the End of the Day, the drawdown is updated
  • As you make more profits, increase the size of your trading account.

Cons

  • There are no multiple accounts
  • Tradovate is currently only available.NinjaTrader will soon be available.
  • No frequent promos

Review & Ratings

Trustpilot

Google My Business: 4.9

Online Prop Trading: 4.7

Reviews.io: 4.4

Sitejabber: 4.4

“Passed evaluation and received funded account within 24 hours. Simple no hassle process, fantastic service from the best prop firm around.”
“Best there is. Staff is super responsive and helpful, from ceo to customer support. No better value for money in the market at the moment."
“TradeDay is hands down THE BEST! I have worked with several other firms and none comes close to TradeDay. Whenever I had a question and/or concern I had a reply within the hour. That is UNHEARD of. Also, TradeDay makes everything very crystal clear and transparent. They don’t try to confuse with the challenge or have arcane rules in place. Nor do they make you do a million challenges to get funded. It’s simple 10 days of consistency, meet your challenge, and BOOM funded.”
“It is my opinion that TradeDay is a tremendous source for aspiring traders. I have been trading full time for around 3 years and I can say that their education is top notch. I honestly wish I had found them sooner because I believe they could’ve cut my learning curve in half. Additionally, their customer service is phenomenal- their response time is great and it is usually one of founders who helps you directly. Overall, I chose to give a 5 star rating because my experience with them has been pleasant all around. I wish their firm much success in the future and I look forward to working with them further.”
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