❗Questionable prop❗
We are constantly checking customers feedback and update reliability scores of the prop firms. This one is not considered as a good choiche.
TradeDay prop firm is a futures prop trading firm that allows traders to speculate only on futures on major exchanges. However, the trading is conducted in a simulated trading environment and not with real funded accounts. The firm allows traders to access futures exchanges through a regulated broker, which is probably the only positive sign with the firm.
In our TradeDay review, we are going to dive deeper into the critical features of the firm assessing its safety, assets, funded options, rules, platforms, fees, and more.
Pros & cons of TradeDay prop firm
Pros |
Cons |
| Ability to withdraw with $0 fees | Does not provide a clear daily risk limit percentage |
| Offers access to Tradovate, NinjaTrader, TradingView, and Jigsaw | All trading is conducted in a simulated trading environment |
| Fast and digital account opening/verification | Lacks multilingual support and hotline support |
| Most payment options are free and instant | Has hidden rules |
| Reliability is very questionable |
Quick rating of TradeDay and its features
| FPA Score | Not yet rated |
| Year founded | 2020 |
| Headquarters | Chicago, Illinois, United States |
| Minimum audition fee | 80 USD per month |
| Fees on withdrawals | 0 USD |
| Minimum funded amount | 10,000 USD |
| Maximum funded amount | 250,000 USD |
| Allowed daily loss | Not disclosed |
| Profit target | 105 |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 90% |
| Trading Platforms | Tradovate, NinjaTrader, TradingView, and Jigsaw |
| Available trading markets | Listed Futures products only |
Safety of TradeDay — 1.5
TradeDay reviews are lacking on the FPA platform, as the firm is relatively young and has lower brand awareness. Having launched in 2022 the firm is still very young and loses points in this aspect. The firm offers trading services through a regulated futures broker, Tradovate. Tradovate is regulated by the NFA of the USA and allows the clients of TradeDay to trade on exchanges with futures.
The firm gets a 1.5 score in this section for only offering trading services through the regulated broker.
TradeDay Funding and Maximum Capital Allocation — 3
TradeDay funded programs include options ranging from 10k to 250k funded options, with the exact list being 10k, 25k, 50k, 100k, 150k, and 250k US dollars. The 10k tier account offers traders the ability to access a simulated account and trade for profits after passing the evaluation. The passing rate at TradeDay is around 28%, but we doubt this claimed number is real.
TradeDay funding options are not flexible, as there are no lower account and higher amount options available.
TradeDay challenges are not offered in diverse funded account types, and the rules and terms are the same for all funded options, which is a drawback.
TradeDay scaling plan is not offered at the moment and traders can only increase lot sizes for every 2,000 USD profits. The firm gets a 3 score in this section.
TradeDay Assets — 0.5
TradeDay prop trading firm allows traders to trade only futures on major exchanges such as CME, CBOT, NYMEX, and COMEX.
Trading of Stocks, Options, Forex, Cryptocurrency, and CFDs are not available nor allowed. Because of these limitations, the firm gets a 0.5 score in this section.
TradeDay Trading rules and limitations — 0
TradeDay rules are as follows:
- Profit target — 10%
- Position limits — From 1 to 25 contracts depending on the funding amount
- Maximum trailing drawdown — 10%
The firm is shy to disclose the daily risk limit numbers, which is a major red flag. Traders do not have a clear understanding of exact risk limits to ensure performance, which is a huge drawback and makes us think the firm is not fair to its traders. Open positions are not allowed overnight, and traders must close all open positions before the trading day is over for futures. Because of these issues, the firm gets a 0 score in this section.
TradeDay Fees — 1
The fees are actually competitive with TradeDay, but they are paid on a monthly basis, making it a bit expensive. The lowest monthly fee for a 10k account is 80 USD per month after discounts. Here is the exact list of monthly subscription fees for each funded account option:
- Funded amount: 10,000 USD — Monthly fee: 80 USD
- 25,000 USD — 100 USD per month
- 50,000 USD — 132 USD per month
- 100,000 USD — 220 USD per month
- 150,000 USD — 300 USD per month
- 250,000 USD — 600 USD per month
TradeDay free trial is not offered as of now, which does not allow traders to test trading conditions first before applying for a challenge.
TradeDay free repeat is only available if the trader pays the monthly fee, which means there is no free repeat with TradeDay. The firm gets a 1 score in this section.
TradeDay Platforms — 2.4
TradeDay allows traders to connect the following platforms to the Tradovate broker, NinjaTrader, TradingView, and Jigsaw. There is also a dedicated futures trading platform offered by Tradovate. The firm gets a 2.4 score in this section.
TradeDay Profit-Sharing — 2
TradeDay profit split is capped at 90% and traders can withdraw the first 10,000 USD of profits with a 100% profit split. This seems too good to be true, as the firm is shy of disclosing daily risk limits, which is very suspicious. We do not recommend trading with this firm. Overall, the firm gets a 2 score in this section.
Education and trading tools at TradeDay — 1.5
Education is paid and based on a monthly subscription model, which makes it expensive for traders to start learning and then purchase the funded account with a monthly subscription as well. There is also a trading blog available for free posts and materials but is not a full replacement for free educational resources. The firm gets a 1.5 sore in this section.
Customer Support at TradeDay — 2.4
When it comes to customer support, TradeDay offers email and live chat channels. The live chat has limited assistance built-in to search through FAQs. Both the website and support channels are only provided in the English language, which is a downside.
❗Questionable prop❗
We are constantly checking customers feedback and update reliability scores of the prop firms. This one is not considered as a good choiche.
Frequently Asked Questions on TradeDay
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