TradeDay is one of my top choices for funded futures trader programs. TradeDay is one of the few firms that once you pass you move into a fully funded, live account (not sim again). Below are the top 10 questions I get asked daily about TradeDay.
Also, be sure to check my Exclusive Promos page – I always have a discount on TradeDay just for you!
The information below was current as of the time of writing this article. Please visit TradeDay and review their help section to verify all the information below is still current before signing up. I will mention TradeDay drastically revamped their program in March 2023, and the information below reflects that. They added several new programs, a more generous profit split, and easier rules.
Is TradeDay Legit? Do They Pay Their Traders?
Yes absolutely they are both legitimate and pay their traders regularly. I would not endorse them if they did not.
I have talked to the management team at TradeDay extensively and not only do they pay traders, they are very committed to being one of the premier funded futures trader programs. TradeDay’s founders are the ones funding YOU the trader, the absolutely want you to succeed and pay you.
What Is The Profit Split With TradeDay?
TradeDay offers a 2 tier approach that is favorable for the traders:
- The first $10,000 of earnings is 100% the traders
- Thereafter it is a 90/10 split, meaning the trader keeps 90% of their earnings
Is There A Daily Draw Down With TradeDay?
TradeDay does NOT have a daily draw down. They do have an End of Day drawdown. Learn more on TradeDay’s FAQs. If you are not familiar with the various types of draw downs make sure you fully understand them before jumping in and trading.
What Are The Rules of TradeDay to Pass?
The rules to pass are honestly pretty straight forward.
- Meet the profit goal for your chosen account size
- Do not violate any Drawdown rules
- Do not trade more contracts than allowed
- Trade in the allowed hours
That is essentially it. Sounds simple, but don’t take any evaluation lightly. You still have to manage your own risk to not violate the draw down. If you stick to your trading plan, passing isn’t that difficult. I’ve passed evaluations with pretty much every top tier firm myself.
What Are The Commissions For Trading Futures With TradeDay?
The commissions vary by product. Visit the TradeDay help and faqs section to verify this for yourself as companies will often change these.
What Software Can I Use For TradeDay Evaluation?
TradeDay offers Tradovate as a trading platform. This is a fantastic offering for traders as Tradovate works both on mobile and on Mac with its own native app, or just within a browser! You can then connect additional software if you want to, but would have to provide it yourself.
I use Jigsaw Daytradr myself as an in depth order flow scalping tool. It is very powerful and I highly recommend it.
How Do I Withdraw Money From TradeDay?
TradeDay withdrawals are easy to do. They have a full FAQs about it, but in general the process is:
- Withdrawals are processed within 5 days of your request
- You can submit your request at any time and as often as you like
- You do so by emailing their support
- There are no fees for withdrawals
- Minimum withdrawal amount is $500.
What Happens If A Trader Made a Million Dollars (insert any big number here), Wouldn’t They Bankrupt The Company?
No. Please think about this for just a second.
First, you have zero incentive to keep trading with a prop firm when you are making that much money. Remember the 90/10 split? If you are capable of making that kind of money you would not want to give up 10%. You would take your profits far sooner and open a brokerage account. As well, I hate to tell you but chances are you aren’t a million dollar trader.
Second since you are in a live funded account from Day 1 of being funded, all your trades are going to the market. When you make money, TradeDay makes money. The money you are making is coming out of the market, not out of TradeDay’s pocket.
I think this question comes from people with delusions of grandeur more than out of a realistic situation.
What Products Can I Trade With TradeDay?
Basically any CME Group listed futures product. Be sure to check their FAQs where they do list them out in detail. In general though, any futures CME Group product. You can not trade FX, stocks or options with TradeDay.
What Are The Monthly Fees or Activation Fee After Passing with TradeDay?
TradeDay doesn’t charge any ongoing fees once you pass. They do have a one-time $139 activation fee for your account. Huge benefit. Note as well you will have to pay CME Data fees, which is standard with all firms. This is a pass through charge.
If I Break A Rule Can I Reset My Account at TradeDay?
Yes if you break a rule during the evaluation phase you can reset your account for $99. You can reset as often as you need to.
Once you are funded in a Funded Account, you can not reset your account. If you break a rule once funded you would have to go through the evaluation again.
Conclusion
Hopefully the above questions and answers cover most of the questions you may have about TradeDay. Be sure to check out my Exclusive Deals Page for the latest TradeDay promo!
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Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
You can read more here: Risk Disclosure
Affiliate Disclosure:
The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.
Additional Disclosure:
The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.