TradeDay Review

TIf you have made it to this TradeDay Review, chances are that you are looking for a funded trading program. These can have many advantages for aspiring traders, primarily the fact that you are able to get a funded account and potentially earn profits if you have the trading skills required. In turn for providing you with account funds, a prop trading firm will take a share of the profits. With more and more prop firms popping up nowadays, it can seem tough to choose once that works for you. I will be covering the pros and cons of the TradeDay pro firm in this review to hopefully help you decided if they are suitable to assist you in meeting your own trading goals. Now without further ado, let’s get right to it!

What is TradeDay?

TradeDay is a relatively new trader funding initiative, but it is showing great promise already. It is a sponsored futures programme that seeks to differentiate itself from the competition by providing real live funding right away once you pass. Additionally, their website emphasises that they will reimburse you if you successfully complete your evaluation challenge.

TradeDay’s vast training resources and ambition to expand alongside traders by letting you increase your trade size as your account size increases. They provide a 14 Day Free Trial to get you started and familiarise yourself with the platform to make the situation even more alluring.

The business was founded in 2020 and has operations around the globe, from the US to the UK. Its headquarters are in Downtown Chicago. James Thorpe and Steve Miley, who have extensive backgrounds in the financial sector, founded the TradeDay prop company.

According to their website, TradeDay is the only finance firm to offer full integration of NinjaTrader and Tradovate. The fact that NinjaTrader is completely integrated with Tradovate and is free to use is even greater news! With this configuration, you can control your trading on your phone using the Tradovate mobile app or web browser in addition to trading on your NinjaTrader desktop application.

Who are TradeDay?

TradeDay have over 80 years of experience in the futures industry, including many, many years of successful trading, as both full-time and part-time traders. They have mentored and managed trading teams, built professional trading groups, and educated hundreds in the art of trading. It is owned and managed by co-founders James Thorpe and Steve Miley, who have a combined 60 years of international trading and futures industry experience

How does TradeDay work?

There is a simple process to how TradeDay works which is outlined below.

  1. They teach trading – TradeDay have content and experts to help you improve your trading knowledge and skills. It is in their own interest that traders do well as they get a share of any profits you make.
  2. Pass evaluation challenge and get a funded account! This is the core of their business strategy. You can put all of your trading education to use with an evaluation account and share any profits with TradeDay. They cannot just give a funded trading account to anyone as that would be very risky. Instead, they provide very achievable challenges to see who has what it takes to get a funded account.
  3. They fund traders – If you successfully pass the evaluation program, you can get a funded account and start making some real profits if you trade well. There are lots of talented forex traders out there who just don’t have the funds to get started. This is where prop firms come in handy.

TradeDay Packages

With just two account sizes and the option to expand your trading size, TradeDay keeps things straightforward. There are three possibilities available to you:

  • 14-Day No Cost Trial
  • Beginner’s Program for TradeDay
  • Advanced TradeDay Program

The TradeDay community, educational materials, trading platform, Trader Development area, and research are all accessible to you. However, your trading is not reviewed for funding. This is a crucial point to keep in mind. This implies that regardless of how well you perform, you will not be eligible for a funded account. After completing the Evaluation Challenge, only paying traders are eligible for funding.

They prohibit having more than one account. Instead, they provide you with capital. In place of opening several accounts, which would restrict their trading options, they would prefer to see traders increase the size of their accounts and trades.

Beginner’s Program for TradeDay

These will give you whatever you require for funding. Additionally, you will learn everything you need to know about futures markets and receive the resources you need to create your strategy from this. Additionally, it offers resources for mentoring that will help you develop as a trader.

You have full access to the following TradeDay features when you enrol in the Beginner Program:

  • Full entry to the TradeDay community of like-minded traders
  • Full use of the educational tools to boost your trading strategies
  • Access to the Trader Development area as well as the entire trading platform
  • Full access to the live account with our usual risk restrictions and the research evaluation

Advanced TradeDay Program

If you are not a beginner and are seeking additional risk limits, you should think about TradeDay’s Advanced Program. Perhaps you believe that private sessions with TradeDay’s founders might be beneficial for you.

You have full access to the following TradeDay features when you enrol in the Advanced Program:

  • All the features offered to beginners
  • Optional 50-minute one-on-one mentoring sessions every month for the duration of the evaluation Challenge
  • Evaluation and live account with twice the daily loss and drawdown limits of beginners
  • Evaluation and live account with twice the position size limits of beginners

TradeDay Fees

One of the only prop firms that doesn’t charge anything for your access is TradeDay. Both the setup cost and the withdrawal fee are waived. One restriction applies: the bank fee will be applied if you withdraw less than $500 to cover the costs. Both the initial and recurrent fees are free. Traders can gain significantly from this. However, if funds are received, you are regarded as a professional trader and must pay a data fee.

TradeDay Withdrawals

You can withdraw money from TradeDay whenever and wherever you choose! There are no limitations on the minimum number of trading days or the frequency of withdrawals. However, processing withdrawals may take up to 7 days. If the withdrawal or payout is more than $500, it is free. If the withdrawal is for less than $500, a fee will be applied by the bank in an effort to discourage modest withdrawals.

TradeDay Education

TradeDay is a venue for instruction and guidance. They continue to build the platform and provide funding possibilities.

For traders of all experience levels, TradeDay provides education. Anyone can increase their knowledge with the aid of TradeDay Funding education resources, from novice traders to more experienced investors. You will have access to classes like “What Are Futures?” once you join up. Terms used in trading, different order types, how to set up a trading screen, etc.

Additional advanced courses in fundamental analysis, technical analysis, trading psychology, and other topics are also available. These programmes, which can be accessed under the platform’s Trader Development section, are regarded as more of a “deep-dive.”

TradeDay also broadcasts daily meetings during which they exchange advice on how to handle the current market conditions they are covering.

TradeDay can nevertheless assist you in catching up even if your experience is not directly relevant to futures. To teach you to the futures market, futures contracts, and how they vary from other asset classes, they have developed a curriculum.

There are numerous different ways to maximise TradeDay including:

  • By completing the courses, you can gain a better understanding of trading.
  • Join the forums and post inquiries there. Any questions you may have can be answered by the TradeDay staff.
  • Attend the daily pre-opening meeting to prepare for trading.
  • Please take part in our live streaming so that you can get answers to your inquiries and assistance with your concerns.
  • The Trader Development programme is another option.

Mentoring: By participating in the live streams and posting questions in the forums, you can receive mentoring from James and Steve. On the main website, you may also purchase one-on-one sessions. If you are enrolled in the Advanced Program, you can also request a 1-on-1 session.

Conclusion: is TradeDay a good prop firm?

TradeDay is rapidly gaining popularity among sponsored futures traders. They distinguish themselves by providing fully funded real money accounts from the beginning of funding. The evaluation unequivocally demonstrates their commitment to cultivating successful traders. Starting on day 1, TradeDay enables you to withdraw at your full profit split percentage. There is no other company like this one. Their software, called Tradovate, is a favourite among traders. Any device, including mobile phones, web browsers, and Mac PCs, can use it.

The TradeDay prop trading company looks to provide a fantastic balance of service, functionality, education, and pricing. There are a variety of programmes to pick from, and they are all clearly arranged. The prop company is committed to enticing successful traders to collaborate and generate income.

TradeDay

$150
8.2

Features

8.0/10

Challenges

8.0/10

Value

8.5/10

Pros

  • 1 step evaluation
  • Tradovate & NinjaTrader software available
  • CQG data feed
  • No setup or funding fees
  • Live-funded account from day 1
  • Withdraw as often as you need without any catches
  • Educational content to help make informed trade decisions
  • Experienced customer support

Cons

  • Do not have multiple accounts
  • Restricted to a few trading platforms
  • Do not run promos that often
  • Not available in all countries