If you’re looking for a reliable and trustworthy trading platform, TradeDay might be worth considering. With over 80 years of industry experience, TradeDay understands the challenges of trading and offers a different resources to help traders improve their performance. Whether you’re a new trader or an experienced one, TradeDay has something to offer.
One of the standout features of TradeDay is its evaluation program, which allows traders to demonstrate their skills and potentially receive funding. With a pass rate of 23.7% during a recent evaluation period, the program is rigorous but fair. Additionally, TradeDay offers a 14-day free trial that allows you to test out the platform without any obligation to purchase.
Trade Day Overview
If you are looking for a trading platform that offers a 14-day free trial with no credit card required, then Trade Day might be right for you. Trade Day is a trading platform that focuses on futures trading and offers a comprehensive evaluation process to help traders become successful. Here is a closer look at Trade Day and what it has to offer.
Trade Day and Tradovate
Trade Day is a partner of Tradovate, a futures trading platform that provides traders with access to the futures markets. Tradovate is a regulated Futures Commission Merchant (FCM) and a member of the National Futures Association (NFA). Trade Day uses Tradovate’s platform to provide traders with access to the futures markets.
Trade Day’s Legitimacy
Trade Day is a legitimate trading platform that has been in the industry for over 80 years. The team behind Trade Day has years of experience in the futures industry, including successful trading, mentoring, and managing trading teams. Trade Day offers a transparent evaluation process that allows traders to prove themselves and get funded.
If you are wondering about Trade Day’s legitimacy, you can rest assured that it is a legitimate trading platform. Trade Day is a partner of Tradovate, which is a regulated FCM and a member of the NFA. Trade Day also offers a transparent evaluation process that is designed to help traders become successful.
Evaluation Process
If you are interested in becoming a funded trader with TradeDay, you will need to pass the Evaluation Process. This process is designed to evaluate your trading skills and help you develop good trading habits. The Evaluation Process consists of two parts: the 1 Step Evaluation and the Evaluation Challenge.
1 Step Evaluation
The 1 Step Evaluation is the first part of the Evaluation Process. It is a simple evaluation that consists of one trading day. During this evaluation, you will trade on a simulated account, and you will need to achieve a profit target. If you pass the 1 Step Evaluation, you will be invited to take the Evaluation Challenge.
Evaluation Challenge
The Evaluation Challenge is the second part of the Evaluation Process. It is a more comprehensive evaluation that consists of 10 trading days. During this evaluation, you will trade on a simulated account, and you will need to achieve a profit target. You will also need to follow the rules and guidelines of the evaluation.
The Evaluation Challenge is designed to simulate real market conditions, and it is difficult to pass even for experienced traders. However, it is a fair evaluation, and you will receive feedback on your performance. If you pass the Evaluation Challenge, you will become a funded trader with TradeDay.
TradeDay’s Evaluation Process has a pass rate of 23.7%, which means that it is not easy to become a funded trader. However, TradeDay provides many resources and education to help you become a better trader. If you are unsure whether TradeDay is the right fit for you, you can join the 14-day free trial and trade on a simulated account without any restrictions.
Trading with Trade Day
If you are looking to trade in a profitable and consistent way, Trade Day can help you achieve your goals. With over 80 years of industry experience, Trade Day understands the challenges and risks you face when trading. The company offers a 14-day free trial, during which you can trade their simulated market without restrictions and access many of the education and mentoring resources on their site.
Trading Platforms
Trade Day provides traders with access to the powerful NinjaTrader platform, which is known for its advanced charting capabilities, order execution, and trading software. NinjaTrader is a leading trading platform used by many professional traders around the world. The platform offers a wide range of tools and features that can help you analyze the financial markets and make informed trading decisions.
Trading Instruments
Trade Day offers a range of trading instruments, including equity futures, energy, metal futures, agricultural futures, and forex. With such a diverse range of instruments, traders can choose the ones that best fit their trading style and preferences. Whether you are interested in trading commodities, currencies, or stocks, Trade Day has something for everyone.
In conclusion, Trade Day is a reliable and trustworthy trading platform that can help you achieve your trading goals. Whether you are a beginner or an experienced trader, Trade Day has the tools and resources you need to succeed. By developing good trading habits and using the advanced order execution and trading software provided by Trade Day, you can improve your trading performance and achieve consistent profits.
Account Management
Managing your account on TradeDay is a straightforward process that allows you to easily monitor your progress and make necessary adjustments. Here are some important things to keep in mind when it comes to account management:
Account Sizes
TradeDay offers a variety of account sizes to meet the needs of investors at different levels. These account sizes range from $25,000 to $250,000, and come with different profit targets and risk parameters. The larger the account size, the higher the profit target and the more risk you can take on. However, it’s important to remember that larger account sizes also require a higher level of skill and experience.
Account Activation Fees
To activate your live account on TradeDay, you will need to pay an account activation fee. This fee covers the cost of setting up your account and providing you with access to TradeDay’s trading platform and resources. The account activation fee varies depending on the size of your account, and ranges from $125 to $500.
It’s important to note that TradeDay does not charge any additional fees or commissions on your trading activity. This means that you can focus on your trades without worrying about hidden costs or fees.
Overall, managing your account on TradeDay is a simple and transparent process that allows you to focus on what matters most: your trades. With a variety of account sizes and a straightforward fee structure, TradeDay makes it easy for you to get started and grow as a trader.
Trading Rules and Guidelines
When trading with TradeDay, it is important to follow the rules and guidelines set forth by the platform to ensure successful and profitable trading. Here are some key rules and guidelines to keep in mind:
Daily Loss Limit
TradeDay has a daily loss limit of $1,000 per day. This means that if you reach a loss of $1,000 in a single trading day, your account will be suspended for the remainder of that day. This limit is in place to help prevent large losses and to encourage traders to stick to their trading plans.
Maximum Drawdown
The maximum drawdown is the largest peak-to-trough decline in an account’s equity. TradeDay has a maximum drawdown limit of 10%. This means that if your account’s equity drops by 10% or more from its highest point, your account will be suspended until you bring it back up to the required level.
Permitted Products
TradeDay allows trading in a variety of futures products, including but not limited to:
- E-mini S&P 500 Futures
- E-mini Nasdaq 100 Futures
- E-mini Dow Futures
- Gold Futures
- Crude Oil Futures
It is important to note that not all products are available for trading at all times. TradeDay reserves the right to add or remove products from the platform at any time.
In addition to these rules and guidelines, it is important to have a solid trading plan in place and to stick to it. This includes setting realistic profit targets and stop-loss levels, as well as avoiding emotional trading decisions.
By following these rules and guidelines and having a solid trading plan in place, you can increase your chances of success when trading with TradeDay.
Risk Management
When it comes to trading, risk management is crucial to ensure that you do not lose all your funds in one go. At TradeDay, we prioritize risk management and have implemented various features to help you manage your risk effectively.
Trailing Drawdown
A trailing drawdown is a risk management tool that automatically adjusts your stop loss as your trade moves in your favor. This feature helps you lock in profits and limit your losses. At TradeDay, we offer trailing drawdowns to help you manage your trades more efficiently.
Auto Closing of Trades
To prevent significant losses, we have implemented an auto-closing feature that automatically closes your trades when your account balance reaches a certain level. This feature helps you avoid losing all your funds and allows you to trade with more peace of mind.
EOD Drawdown Margin
End of day (EOD) drawdown margin is another risk management tool that we offer at TradeDay. This feature allows you to set a maximum loss limit for your account at the end of each trading day. If your account balance falls below this limit, your trades will be automatically closed to prevent further losses.
In conclusion, risk management is a crucial aspect of trading, and TradeDay offers various features to help you manage your risk effectively. With our trailing drawdown, auto-closing of trades, and EOD drawdown margin features, you can trade with more confidence and peace of mind.
Education and Resources
As a trader, you know that education and resources are essential for success. At TradeDay, we understand this too, which is why we offer a wide range of educational resources and webinars to help you improve your trading skills.
Educational Resources
Our educational resources are designed to help you learn more about trading, from the basics to more advanced strategies. We offer a variety of resources, including articles, videos, and e-books, that cover topics such as technical analysis, risk management, and trading psychology. These resources are available to all our members, and we update them regularly to ensure that you have access to the latest information.
In addition to our general educational resources, we also offer resources tailored to specific trading styles, such as day trading and swing trading. These resources provide you with the knowledge and tools you need to succeed in your chosen trading style.
Webinars
Our webinars are another valuable resource for traders. We offer a variety of webinars on different topics, such as trading strategies, market analysis, and risk management. Our webinars are led by experienced traders and industry experts, who share their knowledge and insights with you.
Our webinars are also interactive, allowing you to ask questions and get feedback from the experts. We record our webinars, so if you miss one, you can watch it later at your convenience.
Overall, our educational resources and webinars are designed to help you become a better trader. By taking advantage of these resources, you can improve your trading skills, learn new strategies, and stay up-to-date with the latest market trends and developments.
Customer Service
When it comes to trading, having responsive and knowledgeable customer service is essential. TradeDay understands this and offers various ways to get in touch with their support team.
Support Ticket
If you encounter any issues or have questions that need to be addressed, you can submit a support ticket. The support team at TradeDay is known for being quick to respond and helpful in resolving any problems you may have. They will work with you to ensure that you are satisfied with the outcome.
FAQ Section
TradeDay also has an extensive FAQ section on their website. This section covers a wide range of topics, from account setup to trading strategies. The FAQ section is easy to navigate, and the answers are clear and concise. If you have a question, chances are you will find the answer in this section.
Overall, TradeDay’s customer service is top-notch. They are responsive, knowledgeable, and always willing to help. Whether you prefer to submit a support ticket or browse the FAQ section, you can be confident that your questions will be answered promptly and accurately.
Fees and Commissions
When considering a trading platform, it’s important to understand the fees and commissions associated with using the service. TradeDay offers a transparent fee structure that is designed to be easy to understand. Here’s what you need to know about the fees and commissions associated with TradeDay.
Data Fee
TradeDay charges a monthly fee of $350 for access to their trading platform. This fee includes access to real-time market data, and there are no additional fees for data usage. This fee is competitive with other trading platforms on the market and represents a reasonable cost for access to a professional-grade trading platform.
Commissions
TradeDay charges a commission on each trade that you make on their platform. The commission is based on the number of contracts that you trade and ranges from $0.25 to $1.20 per contract. This commission is in line with industry standards, and it’s important to note that there are no additional fees for order routing or other services.
Withdrawal Fee
TradeDay does not charge a fee for withdrawals. However, it’s important to note that your bank or payment processor may charge a fee for processing the withdrawal. It’s important to check with your bank or payment processor to understand any fees that may be associated with withdrawing funds from your TradeDay account.
Overall, TradeDay’s fee structure is competitive and transparent. The monthly fee for access to the platform is reasonable, and the commission structure is in line with industry standards. Additionally, the lack of a withdrawal fee is a nice touch that makes it easy to move funds in and out of your TradeDay account.
Profit and Payout
If you’re looking to make money through trading, then TradeDay might be a good option for you. One of the key features of the platform is the profit target that it sets for traders. This is designed to encourage traders to be consistent and disciplined in their approach, rather than taking on high-risk trades in the hope of making a quick profit.
Profit Target
TradeDay has a profit target of $10,000 for funded traders. This means that you need to make a profit of $10,000 in order to qualify for funding from the platform. However, it’s important to note that this is not a one-time target. Instead, you need to maintain a consistent level of profitability over a period of time in order to meet the target.
To achieve this, TradeDay sets a minimum trading period of 10 days. During this time, you need to demonstrate that you can make consistent profits without taking on excessive risk. If you can achieve this, then you’ll be eligible for funding from the platform.
Payouts
If you do meet the profit target and qualify for funding, then you’ll be eligible for a payout from TradeDay. The platform offers a competitive payout structure that rewards traders for their performance.
Funded traders are entitled to keep the first $10,000 of profit that they make. After that, the payout drops to 90%. This means that if you make a profit of $20,000, you’ll be entitled to keep $10,900 ($10,000 + 90% of $10,000).
Overall, TradeDay offers a fair and transparent payout structure that rewards traders for their performance. If you’re able to meet the profit target and demonstrate consistent profitability, then you could stand to make a significant amount of money through the platform.
Reviews and Feedback
When considering a trading platform, it’s important to take into account what other traders are saying about it. Here are some reviews and feedback from various sources about TradeDay:
Trustpilot
TradeDay has a 4.5/5 rating on Trustpilot with over 100 reviews. Many users praise the platform’s user-friendly interface and helpful customer support. Some users also mention that they appreciate the variety of educational resources available on the site.
However, there are a few negative reviews as well. Some users mention issues with funding their accounts or difficulty passing the evaluation challenge.
Professional Reviews
Professional reviews of TradeDay are generally positive. Steve Miley, a professional trader and analyst, reviewed the platform and noted its “excellent educational resources” and “user-friendly interface.” He also praised the platform’s funding program and the fact that it allows traders to trade futures.
James, a trader from Chicago, Illinois, also reviewed TradeDay and mentioned that he found the evaluation process to be fair and appreciated the platform’s educational resources.
Overall, the reviews and feedback about TradeDay are mostly positive. While there are a few negative reviews, the platform seems to be well-liked by many traders for its user-friendly interface, educational resources, and funding program.
Additional Information
Free Trial
TradeDay offers a 14-day free trial for interested traders. During this time, you can trade in the simulated market without any restrictions and access the education and mentoring resources on the site. No credit card is required to sign up for the free trial. This is an excellent opportunity for traders who want to test the waters before committing to the program.
Discounts
TradeDay offers discounts on its programs from time to time. Keep an eye on the website or sign up for their newsletter to stay informed about any upcoming discounts. These discounts can help you save money while still getting access to the same great programs.
It’s important to note that discounts are not always available, and they may not be applicable to all programs. Make sure to read the terms and conditions carefully before applying any discounts to your program.
Overall, TradeDay is a great platform for traders who want to improve their trading skills and potentially get funded. With a 14-day free trial and occasional discounts, it’s a low-risk way to explore what the platform has to offer.