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TradeDay has quickly established itself as a leading prop firm in the futures trading industry. With its flexible evaluation process, wide range of account options, and high-profit payout structure, it's a solid choice for traders looking to access capital without significant personal financial risk. Below, we break down the key features of the firm and provide an in-depth analysis.
What is TradeDay?
TradeDay is a proprietary trading firm based in Chicago, USA. Established in 2020, TradeDay focuses on funding traders for futures trading on the CME markets. The firm offers accounts with balances ranging from $10,000 to $250,000, with a 90/10 profit split in favor of the trader after the first $10,000 of profits, which the trader keeps in full.
Why Choose TradeDay?
- Free Trial: The 14-day free trial is one of TradeDay’s standout features. It gives traders the ability to test out the platform with no upfront cost.
- Simple Evaluation Process: TradeDay requires only a single-step evaluation, simplifying the path to getting funded. This is a major advantage over firms that require more complicated, multi-step evaluations.
- No Time Limit: You can take as long as you need to complete the evaluation, reducing stress and allowing traders to focus on quality over speed.
Pros:
- One-step evaluation process
- No time constraints for completing evaluations
- High profit splits (100% of the first $10,000, 90% after)
- Flexible platform options
Cons:
- No overnight or news trading allowed
- Higher monthly fees for larger accounts
Traders must trade for a minimum of 7 days during the evaluation, and after passing, they receive a funded account where they keep 100% of the first $10,000 in profits and 90% thereafter.
Account Options and Rules
Traders can choose from a range of account sizes depending on their capital requirements and trading experience. However, the inability to hold positions overnight or trade during major news events may be limiting for certain trading strategies.
- Minimum Trading Days: 7 days required for the evaluation period.
- Max Contracts per Account: The maximum contracts vary by account size. For example, a $50,000 account allows up to 5 mini contracts, while the $250,000 account allows up to 25 minis.
- No Time Limits: There is no time limit to complete the evaluation phase, giving traders a relaxed approach to reaching their profit targets.
Trading Restrictions:
- No overnight positions
- No news trading
- End-of-day trailing drawdown
TradeDay Platforms and Tools
TradeDay offers a variety of trading platforms, including NinjaTrader, Tradovate, TradingView, and Jigsaw Trading. This flexibility allows traders to choose the platform that best suits their trading style, from manual trading to algorithmic strategies.
Supported Platforms:
- NinjaTrader: Popular for its advanced charting and automation features.
- Tradovate: A web-based platform, easy to access from any device.
- TradingView: Known for technical analysis and charting tools.
- Jigsaw Trading: Tailored for order flow trading.
While TradeDay offers solid platform options, some traders may find the absence of certain platforms (e.g., MetaTrader) a limitation.
Payout Structure and Profit Sharing
TradeDay offers an industry-leading payout structure where traders keep 100% of the first $10,000 in profits. After that, they enjoy a 90/10 split, which is significantly higher than many other prop trading firms.
Payout Highlights:
- 100% of the first $10,000
- 90/10 profit split after $10,000
- No minimum withdrawal limits
- Flexible payout requests anytime
Final Thoughts: Is TradeDay Right for You?
TradeDay is an excellent choice for futures traders who want access to significant capital and generous profit-sharing. Its simple, no-time-limit evaluation process, combined with the flexibility to choose from various trading platforms, makes it an attractive option for traders at all levels.
Who Should Consider TradeDay?
- Traders looking for a streamlined evaluation process
- Traders who prefer flexible withdrawal options
- Futures traders seeking high-profit retention
TradeDay may not suit traders who rely on overnight or news trading strategies, but it offers an excellent prop trading environment for day traders focused on consistency.
Key Takeaways:
- Free 14-day trial with no commitment
- One-step evaluation process
- No time limit to complete evaluations
- 100% payout on the first $10,000 in profits
- Broad platform support including NinjaTrader, Tradovate, and more
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