It is important to take note of TradeDay supported and restricted countries especially for traders looking to join the prop firm. Founded in 2020 by Tera Vicker, Steve Miley, and James Thorpe, TradeDay is a Chicago, Illinois-based proprietary trading firm. It gives traders all over the world the chance to obtain funds through both live and simulated (SIM) accounts. TradeDay is renowned for its clear regulations, prompt customer support, and extensive educational materials. By providing a platform to improve their trading abilities, the firm hopes to assist both novice and seasoned traders. This article will examine TradeDay supported and restricted countries.
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An Overview Of TradeDay
TradeDay offers account sizes ranging from $10,000 to $250,000 and offers money to traders who successfully complete an evaluation task. Traders are given login credentials to trade on platforms like NinjaTrader and Tradovate after acquiring an account. To assist traders flourish, TradeDay places a strong emphasis on a nurturing environment with top-notch resources.
TradeDay Supported Countries
Anybody interested in day trading should be able to use TradeDayās platform. The firm offers its services to traders all around the world, as long as they fulfill certain requirements. Positive reviews from more than 400 day traders on Trustpilot attest to TradeDayās validity and emphasize its dedication to openness and client pleasure.
TradeDay Restricted CountriesĀ
Despite its global goals, TradeDay restricts countries from a few nations. These limitations are the result of constraints put in place by its broker and US Futures Commission Merchant (FCM). The following nationsā nationals or residents are TradeDay restricted countries prohibited from onboarding traders by TradeDay:
- Afghanistan
- Albania
- Algeria
- Angola
- Balkans
- Barbados
- Belarus
- Bosnia and Herzegovina
- Botswana
- Bulgaria
- Burkina Faso
- Burundi
- Cayman Islands
- Central African Republic
- Crimea Region of Ukraine
- Croatia
- Cuba
- Democratic Peopleās Republic of Korea (āDPRKā)
- Democratic Republic of the Congo
- Ecuador
- Ethiopia
- Gibraltar
- Guyana
- Haiti
- Indonesia
- Iran
- Iraq
- Jamaica
- Jordan
- Kosovo
- Lao PDR
- Lebanon
- Libya
- Macedonia
- Mali
- Malta
- Mauritius
- Montenegro
- Mozambique
- Myanmar (Burma)
- Nicaragua
- Nigeria
- Pakistan
- Panama
- Papua New Guinea
- Philippines
- Romania
- Russia
- Senegal
- Serbia
- Slovenia
- Somalia
- South Africa
- South Sudan
- Sri Lanka
- Sudan/Darfur
- Syria
- Tanzania
- Trinidad and Tobago
- Tunisia
- Uganda
- Venezuela
- Yemen
- Yugoslavia
- Zimbabwe
Additionally, TradeDay prohibits traders from visiting these nations for an extended length of time and primarily trading from them. A trader cannot open an account with TradeDay even if they are a citizen of a permitted nation but live in a prohibited one, or vice versa.
Qualifications for Eligibility
Applicants must be at least eighteen years old and not citizens or residents of TradeDay restricted countries in order to participate in TradeDay. Know Your Customer (KYC) and Anti-Money Laundering (AML) checks are performed by TradeDayās broker and clearing business during the onboarding process. A government-issued ID and evidence of address, such as a utility bill or bank statement, are required of applicants. If an applicant fails these background checksāfor example, by having a criminal convictionāthey will not be eligible for a funded account and will not receive any reimbursements.
Rules & Conditions for Trading
A profit target, a consistency rule, and a trailing drawdown are just a few of the explicit rules and guidelines that TradeDay gives traders. During its evaluation challenge, the firm applies five important restrictions, one of which is a maximum trailing drop. In addition to using specific trading instruments during predetermined trading hours, traders must meet a profit target.
Benefits of Trading with TradeDayĀ
TradeDay provides its traders with a number of benefits, including:
- Free Trial: Traders can try the program during the 14-day trial period.
- Instructional Materials: TradeDay offers a wealth of instructional materials.
- Open Learning Community: Traders are able to interact and share knowledge.Ā
- Variable Account Sizes: TradeDay allows users to have balances between $10,000 and $250,000.
- Attractive Payouts: Traders get 90% of profits in the following months after receiving 100% of the first $10,000 in winnings.
- Free NinjaTrader License: The NinjaTrader platform is available to traders at no cost.
The Drawbacks Of Using TradeDay For Trading
Despite its benefits, TradeDay has certain drawbacks.
- Country Restrictions: Residents of 58 countries are not eligible to use TradeDayās services.
- TradeDay has a consistency guideline that must be followed.
- Limited Accounts: Traders are unable to manage more than one account at once.
- Tight Trailing Drawdown: TradeDayās trailing drawdown policy is very strict.
Tools and Platforms
Only listed futures products, namely those on the CME, CBOT, NYMEX, and COMEX exchanges, are eligible for trade on TradeDay. Equity futures, currency futures, interest rate futures, energy futures, metal futures, and agricultural futures are among the available instruments.
TradeDay makes use of several trading systems, including:
- NinjaTraderĀ
- TradingViewĀ
- Tradovate
- JigsawĀ
Pricing and Discount
Pricing on TradeDay ranges from $99 to $750, depending on the size of the account selected. There are frequent discounts available, and traders can get the most recent one by using a discount link and the promo code TFDAY.
How to Get Started with TradeDay
Traders can begin using TradeDay by following these general steps:
- Register: Create an account on the TradeDay website.
- Select an Account: Choose an account size based on your capital and trading experience.
- Evaluation: By hitting the profit goal and adhering to the drawdown restrictions, you will pass the one-step evaluation process.
- Funded Account: After passing the test, you will be given the login information to use to trade.
- Trading: To trade a variety of futures products, use systems such as NinjaTrader or Tradovate.
In conclusion
With an emphasis on community support and educational materials, TradeDay provides a platform for traders to obtain funds and improve their trading abilities. The geographic limitations regarding TradeDay supported and restricted countries that affect eligibility should be noted, though. For those looking to trade futures with funded capital, TradeDay is still a good choice as long as they fulfill the requirements and live in a nation that qualifies.
Frequently Asked Questions
Why Do TradeDay Restrict Certain Countries?
- Restrictions are primarily due to regulatory compliance issues and legal standards that prevent foreign financial services firms from operating within certain jurisdictions.
How Can I Verify If My Country Is Supported By TradeDay?
- You can check your eligibility by visiting TradeDay official website or reviewing their terms of service for the most current list of supported and restricted countries.
What Should I Do If My Country Is Restricted?
- If your country is on the restricted list, consider exploring other proprietary trading firms that may offer similar opportunities without geographical limitations.
