Overview:
TradeDay, founded in 2020, is a prop firm focused on futures trading. They offer an evaluation program designed to identify and fund traders, emphasizing a clear path to a funded account with an 80% profit share that can scale up. They provide educational resources and support through their community.
Key Points:
- Account Sizes (Evaluation): $50,000, $100,000, $150,000, with different rule sets (Intraday, End-of-Day, Static).
- Year Started: 2020.
- Minimum Evaluation Days: As few as 7 trading days to pass the evaluation if all objectives are met.
- Maximum Accounts: One account per household.
- Restricted Countries: Includes OFAC-sanctioned countries and others like Belarus, Burma (Myanmar), Burundi, Central African Republic, Congo, Iraq, Lebanon, Libya, Mali, Nicaragua, Somalia, Sudan, Venezuela, Yemen, Zimbabwe.
- Straight to Funded: No, an evaluation program is required.
- Swing Trading: Generally not allowed, as TradeDay positions itself as a “day trading community.” Positions are typically expected to be closed daily.
- Trading Platforms: Supports platforms compatible with Tradovate and NinjaTrader, accessible on iOS, macOS, Windows, and Android. Includes NinjaTrader (free during eval), TradingView, Tradovate.
- Profit Split: Starts at 80% for the trader, with the potential to scale up to 95% based on performance.
Product Table (Example Evaluation Plans – Intraday Drawdown):
| Account Size | Profit Target | Trailing Drawdown (Intraday) | Daily Loss Limit | Max Position Size | Min Eval Days | Cost (Monthly – Example) |
|---|---|---|---|---|---|---|
| $50,000 | $2,500 | $2,000 | $1,000 | 6 Contracts | 7 | ~$165 |
| $100,000 | $5,000 | $3,500 | $1,750 | 12 Contracts | 7 | ~$275 |
| $150,000 | $7,500 | $5,000 | $2,500 | 15 Contracts | 7 | ~$350 |
Note: TradeDay offers different drawdown models (Intraday Trailing, End-of-Day Trailing, Static). Costs are examples of monthly evaluation fees and are subject to change.
Pros:
- Clear profit split starting at 80% and scaling up to 95%.
- Offers various drawdown models to suit different preferences.
- Supports popular futures trading platforms like NinjaTrader and TradingView.
- Educational resources and community support.
- Relatively transparent rules and objectives.
Cons:
- Strictly one account per household, which may limit some traders.
- Primarily focused on day trading, so swing trading is generally not an option.
- Monthly recurring fee for the evaluation until passed or canceled.