TradeDay is a prop firm that offers funded trading accounts to traders who can pass their trading challenge. TradeDay is a company that provides capital and risk management to traders who trade on its behalf. TradeDay funded trading account is an account that allows traders to trade with TradeDay’s money and keep a percentage of the profits. TradeDay’s trading challenge is a test of the trader’s skills and performance under certain rules and conditions. TradeDay provides traders with access to large capital, low fees, flexible trading rules, professional support and guidance, and a scalable growth plan. Let us dive into more details of TradeDay, according to our web search.
What is the TradeDay challenge and what are its benefits?
TradeDay challenge is a two-stage evaluation process that traders need to complete in order to qualify for a funded trading account. The benefits of the TradeDay challenge are:
- It helps traders improve their trading skills and discipline.
- It allows traders to prove themselves without risking their own money.
- It gives traders the opportunity to trade with up to $250,000 of TradeDay’s capital.
What are the TradeDay challenge rules and how to pass the challenge?
The challenge rules may vary depending on the account size and type that the trader chooses. The main challenge rules could be:
- Maximum drawdown: The maximum allowable loss from the initial balance. It ranges from 4% to 10% depending on the account size.
- Profit target: The minimum required profit from the initial balance. It ranges from 6% to 10% depending on the account size.
- Trading days: The minimum and maximum number of days that the trader has to trade in each stage. It ranges from 10 to 60 days depending on the account type.
- Trading hours: The time window that the trader can trade in each day. It is usually from 6 am to 5 pm EST.
- Instruments: The financial instruments that the trader can trade. TradeDay offers futures contracts on various markets, such as indices, commodities, currencies, metals, etc.
- Lot size limit: The maximum allowable lot size per trade. It ranges from 0.01 to 5 lots depending on the account size.
To pass the challenge, the trader may have to meet or exceed the profit target without violating the maximum drawdown or any other rule in each stage.
TradeDay Challenge Fees, Retry, and Fee Refund
The challenge fees are the one-time payments that traders have to make in order to enroll in the challenge. The challenge fees vary depending on the account size and type that the trader chooses. The challenge fees range from $99 to $750 per month. Traders can pay the challenge fees using various methods.
TradeDay Funded Account
TradeDay funded account is an account that traders receive after they pass the challenge and sign a contract with TradeDay. The benefits of TradeDay funded account could be the following:
- It allows traders to trade with TradeDay’s capital and keep up to 90% of the profits.
- It offers flexible trading rules, such as no minimum or maximum trading days, no trading hours restrictions, no lot size limit, etc.
- It provides traders with professional support and guidance, such as trading coaches, webinars, newsletters, etc.
- It enables traders to grow their account size and earning potential through a scaling plan.
TradeDay Scaling Plan and Trading Rules
The scaling plan is a feature that allows traders to increase their funded account size and earning potential based on their performance. The scaling plan is applied automatically every month based on the net profits (after deducting commissions and fees) above the initial balance. Traders can reach up to $1 million in funded account size through the scaling plan.
The trading rules are the best practices that traders have to follow in order to improve their trading skills and results. TradeDay provides traders with professional support and guidance on various trading topics, such as:
- Trading psychology: The mental and emotional aspects of trading, such as confidence, discipline, patience, etc.
- Trading strategies: The trading methods that traders can use, such as trend following, breakout, reversal, etc.
- Trading indicators: The technical tools that traders can use, such as moving averages, oscillators, Fibonacci, etc.
- Trading risk management: The techniques that traders can use to control their losses and protect their profits, such as stop loss, take profit, position sizing, etc.
- Trading education: The resources that traders can use to learn and improve their trading knowledge and skills, such as webinars, newsletters, courses, etc.
To follow the trading rules, traders have to study and practice regularly and seek feedback and advice from the TradeDay team.
TradeDay Free Trial, Deposit Methods, Withdrawal, and Payment Methods
The free trial is a feature that allows traders to test the TradeDay platform and services for free before enrolling in the challenge or signing a contract. The free trial gives traders access to a demo account with $50,000 of virtual money and 14 days of validity. The free trial allows traders to trade with the same instruments, leverage, commissions, and fees as the funded account. The free trial also allows traders to access the TradeDay support and guidance services, such as trading coaches, webinars, newsletters, etc. To start the free trial, traders have to register on the TradeDay website and verify their email address.
The deposit methods are the ways that traders can pay for the challenge fee or the funded account upgrade fee. TradeDay accepts various deposit methods, such as credit cards, debit cards, PayPal, Skrill, Neteller, Bitcoin, etc. To use the deposit methods, traders have to log in to their TradeDay account and choose their preferred payment option from the dashboard. Traders have to follow the instructions on the screen and provide the necessary information and confirmation for each payment method.
The withdrawal and payment methods are the ways that traders can receive their profits or fee refunds from their funded account or challenge account. TradeDay offers various withdrawal and payment methods, such as bank transfer, PayPal, Skrill, Neteller, Bitcoin, etc. To use the withdrawal and payment methods, traders have to log in to their TradeDay account and request their payout from the dashboard. Traders have to choose their preferred payment option and provide the necessary information and confirmation for each payment method. Traders can withdraw their profits or fee refunds at any time, as long as they meet the minimum withdrawal amount and the KYC requirements.
TradeDay Coupon Codes & Discount
One of the ways to get a discount on TradeDay is to use coupon codes that are available on various websites. These coupon codes may have different terms and conditions, such as expiration dates, minimum purchase amounts, or eligibility criteria. You should check the details of each coupon code before using it.
TradeDay is rapidly gaining popularity among sponsored futures traders. The evaluation unequivocally demonstrates their commitment to cultivating successful traders. TradeDay’s 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.
What is TradeDay’s maximum drawdown?
TradeDay’s maximum trailing drawdown ranges from $500 to $4,000 depending on the account balance.
What is TradeDay’s profit target?
TradeDay’s profit target ranges from $1,000 to $12,000 depending on the account balance.
What are TradeDay’s minimum and maximum trading days?
Based on the web search result, TradeDay has minimum trading days of 10 days and no maximum trading days.
What are TradeDay’s challenge fees?
The challenge fees range from $99 to $750 per month depending on the account balance.
Does TradeDay offer a retry?
Based on the web search results, it seems like TradeDay offers a retry.
Does TradeDay offer a fee refund?
Based on the web search results, it seems like TradeDay does not offer a fee refund.
What is TradeDay’s profit split?
TradeDay offers up to 90% profit split.
Does TradeDay offer a scaling plan?
Based on the web search results, it seems like TradeDay offers a scaling plan.
Does TradeDay allow expert advisors?
Based on the web search results, it seems like TradeDay’s policies on expert advisors are not clearly stated.
Does TradeDay offer a free trial?
Yes, TradeDay offers a free trial.
What is TradeDay’s minimum deposit?
Based on the web search results, it seems like TradeDay does not have a minimum deposit.
What are TradeDay’s brokers?
Based on the web search results, it seems like TradeDay’s brokers are not clearly stated.
What are TradeDay’s platforms?
Based on the web search results, TradeDay uses NinjaTrader and Tradovate, (with the ability to connect TradingView and Jigsaw), along with the CQG data feed, because they are widely accepted as the best and most stable platforms for retail futures trading.
What is TradeDay’s leverage?
Based on the web search result, there’s no leverage, the trading account balance is the buying power, meaning that the leverage is 1:1. Your limits are defined by the maximum number of contracts that you can trade, which depends on your account size and profit.
Is TradeDay legit?
As for the legitimacy of TradeDay, TradeDay is a reputable prop trading firm that has a transparent and fair process for selecting and funding traders, and it provides them with various benefits and support services. TradeDay also has a positive reputation among its traders and partners, and it has proof of payouts on its website and social media channels. You can also read the testimonials and reviews of TradeDay to see what other traders have to say about their experience with TradeDay.
If you are looking for alternatives to TradeDay, here are some options that you may want to consider: Earn2Trade, TopstepTrader, The Funded Trader, OneUp Trader, Maverick Trading, FundedNext, FTMO, and so on.
It’s always a good idea to thoroughly research and compare different options before making a decision.
- 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
- Do not have multiple accounts
- Restricted to a few trading platforms
- Do not run promos that often
- Not available in all countries
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.