TradeDay Review 2024

TradeDay

As Futures Trading becomes a more attractive career, it has several challenges and complexities that require time and effort to master. In addition to these inherent drawbacks, there is minimal available assistance for beginners and aspiring traders, and this potentially increases their risks. TradeDay aims to help investors reap the opportunities of Futures trading without the impacts of the disadvantages.

TradeDay, co-founded in 2020 by Steve Miley, is headquartered in Chicago, United State. It is an education, mentoring, and funding platform for anyone interested in learning to trade. TradeDay provides professional trading tools, including trader development programs, live market commentary, and institutional-grade research. This gives traders the edge they need to succeed in today’s market. TradeDay aims to enhance the playing field for aspiring traders.

The firm provides a model that facilitates learning for traders and gives them an opportunity to participate in their evaluation challenge. Those who pass the challenge are provided funds to start their trading journey. Participants must follow some set rules and specific targets as part of the challenge. If they accomplish the targets, in compliance with the rules, the firm will provide them with initial funds. Traders can keep the first $10,000 they generate and 90% of whatever they make trading thereafter. This model is based on a subscription fee paid by traders.

TradeDay keeps it simple with two account sizes while retaining the capacity to grow your available trading size. It also offers a 14-day Free Trial with no requirement to add a credit card, an atypical offering within the funded trading program industry. It is also worth noting that there are fees associated with blowing up your account during the simulation trading phase. TradeDay Funding will reset failed evaluations for free upon renewal of the monthly TradeDay membership fee. This means that if you fail the Evaluation Challenge, you can purchase a reset for $99 and restart the challenge immediately or after your monthly membership fee renews.

Funded traders get to keep the first $10K of their profits and 90% thereafter, and it now only takes 7 trading days to get funded.

Not Ready for an Evaluation?

Then just get access to all our webinars and content…

When you sign up with TradeDay you will connect via Tradovate, a unique offering since most companies offer NinjaTrader. Tradovate offers enormous benefits to traders since it is simple to use and learn, contains a nice user interface, and (most importantly) is web-based. Tradovate can be used on a PC, Mac, mobile phone, or tablet, etc… There is also a Tradovate native app that you can use in a web browser.

In addition to Tradovate, you will also use a CQG feed, which is another huge benefit since most competitors use Rithmic despite it becoming increasingly unstable.

If you prefer you can, of course, use your own software. I am a fan of Jigsaw Daytradr, so I connect Jigsaw to my TradeDay connection, leaving Tradovate open as a backup.

Once funded, you can use Tradovate for free!

Start Your 14 Days Free Trial and Get 20% Off with Coupon Code: FUNDEDPROGRAM

Our reviews of TradeDay Funding indicates that futures traders will have all the tools they need not only to improve their day trading skills but to turn them into a profession. Traders will need to prove they have what it takes to make money and TradeDay guarantees to fund them as traders.

TradeDay has chosen Tradovate as its partner and Tradovate has proven itself as a fast, reliable, and stable platform as it has all the tools you need to get started and succeed. Furthermore, it works across MAC OS, Windows, IOS, and Android. Tradovate comes with no fees and includes all the basic charts you need to manage your day trading career. While Tradovate does lack many of the advanced features of other trading platforms like NinjaTrader and TradeStation, it is easy for beginners can get acquainted with all of the basic features with Tradovate. As the only platform TradeDay offers, Tradovate was chosen for its functionality, speed, and reliability. It can also be integrated with Tradingview as an add-on to Tradovate at no extra cost and with Jigsaw if you have a Jigsaw license. As TradeDay grows, it plans to introduce additional trading platforms in accordance with customer demand.

Tradovate has a noticeable lack of advanced charting options. Given what other platforms offer and the overall high-risk nature of trading, serious traders will likely need to use a third-party charting platform to extract the most value from their trades. Tradovate contains the basic charts you would expect, including:

  • Candlestick charts
  • Bar charts
  • Line graphs
  • Point & figure
  • Heike nashi
  • Renko

With the charting’s features you can display data for ticks, volume, range, and momentum. However, for day traders these charts can be clunky and even interfere with trades. As any short-term trader knows, every second is critical. The clumsiness of these charts, because of no ability for auto-scaling, results in charts not providing the needed support for serious traders.

TradeDay Funding’s commitment to education and coaching enables beginners and veterans alike to increase their profitability. Some of these coaching options are included for free in the 14-day Free Trial and the Beginner programs. Advanced users looking for greater risk limits can benefit from a monthly one-on-one session with James or Steve for the lifetime Evaluation challenge.  

Primary education offerings include:

  • Daily pre-open meeting and live streams
  • Sessions on trading psychology and mindset
  • Trader development program with Steve Ward

All classes are tailored for traders at different levels, with high marks given for the clear progression paths on offer to account holders.

If you are using the Beginner package, you are eligible for mentoring through posing questions in the forums and attending regular live streams where you can raise questions live with James and Steve. One-on-one sessions are additionally available for purchase within the main site.

In the Advance program, you are also eligible to receive an additional, one-on-one session every month. This provides the opportunity to go over your trades and receive advice regarding any mistakes.

There are also optional, 50-minute one-on-one mentoring sessions every month for the lifetime of the Evaluation Challenge. This is included for free in the Advanced program and in the funded traders program.

As part of the Advanced service, traders receive:

  • 50-minute one-on-one mentoring session every month.
  • Personalized advice on your trading strategies.
  • Daily meeting and a weekly personal coaching session. 
  • Access to the trading room.

The coached have years of experience trading on the open market. Many of the coached employed by TradeDay Funding have also worked on real trading floors with experience coaching and mentoring new traders to achieve their goals.

One of TradeDay Funding’s best features is its thriving community. Users can ask questions in the Site’s activity and chat, where both simulation users and funded traders answer questions.

TradeDay does not allow the creation of multiple accounts. The firm funds traders with their own money and likes to see them develop their account to further their own trading.

Basic guideline and other specifics can be accessed on the TradeDay official website.

  • 1 Step Evaluation.
  • Trade for 7 days.
  • Trailing Drawdown stops at the initial balance.
  • Trailing Drawdown is calculated at the end of day, not in between trades. Big benefit to traders.
  • Follow the scaling plan.

Please be aware that trading involves a lot of risk. If you are new to trading these guidelines might seem confusing. Reading the FAQ sections carefully and knowing what you are paying for will make things easier.

The general rules will be the same as the evaluation. You will be back to a scaling plan as you build up a balance. As you add profit to your account, every $2,000 will earn you an additional contract for you to trade.

TradeDay is one of the only prop trading firms that does not charge you once you pass. TradeDay has a one time activation/set up fee of $139. This is for both its Funded Sim and Funded Live accounts. TradeDay has no restriction on the frequency of withdrawals, but there is a minimum withdrawal amount of $500. Please note that since you are considered a professional trader once  on TradeDay’s Funded Live account, you will have to pay a data fee. This data fee is only for the Funded Live and NOT the Funded Sim.

TradeDay offers the ability to withdraw whenever you like! There are no minimum traded days and no rules around how often you can withdraw. However, there is a withdrawal minimum amount of $500. Withdrawals can take up to 7 days to process.

  • 1 step evaluation.
  • Tradovate available as software.
  • CQG data feed.
  • NO subscription fee once funded
  • Option of live funded account from day 1 once passing.
  • Withdraw from day 1 and as often as you want ($500 minimum) – no waiting or catches.
  • Drawdown updated at End of Day, not after every trade.
  • Scale up your trading size available as you earn more profit.
  • Offers a 14-day free trial.
  • No multiple accounts available.
  • No frequent promos.

TradeDay is a completely legitimate platform that is great for testing your skills and for transitioning into professional day trading. Its array of educational tools can enable you to take your day trading to the next level. You can get started with two different account sizes and improve your trading size as you increase your account balance. Another item worth highlighting is the 14-day Free Trial, which is not often offered in the funded trading space. You can also start trading actual capital from Day 1, as well as withdraw profits from Day 1 with no special technicalities.

Please refer to the following pages of our website to read about similar other Prop Firms leading the industry such as: The Funded Trader Review

Start Your 14 Days Free Trial and Get 20% Off with Coupon Code: FUNDEDPROGRAM

  • You must have a live membership in order to have your trading evaluated. You cannot cancel your membership and continue to buy resets.

The monthly subscription gives you access to TradeDay’s member’s area and one free evaluation.

Your first payment starts on the day you sign up for a paid membership, then it will recur monthly until you pass the evaluation, or choose to cancel your subscription. 

You do not need to pass the evaluation within one month, you can take as long as you like to pass. If you are in an active evaluation, the evaluation challenge will not reset when your monthly subscription renews.

If you fail the evaluation you can reset your challenge and start again for a separate fee of $99, this does not affect your monthly billing which is independent of the evaluation.

You can reset your challenge as many times as you like, reset tokens are available for purchase within the site.

Yes, you can cancel at anytime.

But please note that you will not be evaluated after you have canceled your subscription, TradeDay requires an live subscription in order to evaluate your trading.

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It’s a straightforward process.

Navigate to the drop-down menu at the top right of any page in the member’s area, and from there select CANCEL MEMBERSHIP, from here you will be able to cancel your account immediately.

Billing stops as soon as you cancel.

You will immediately receive an email confirming your cancellation and your credit card will not be charged again. 

We will close down access to your trading account with our broker (so, before you cancel, make sure you’ve saved any data you wanted to save).

You can upgrade from the 14-Day Free Trial, or our Research and Resources membership to an evaluation at any time. 

Unfortunately, we do not allow members to upgrade or downgrade between evaluations at any time.

However, you can cancel your current membership and start a different membership, but this will restart the evaluation. 

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