Tradeify Prop Firm Account Types and Differences

Tradeify prop firm account types and differences poses an attractive choice for both novice and experienced traders seeking straightforward funding solutions in today’s dynamic financial markets. With a variety of account types designed to satisfy the demands of different traders, Tradeify has become a prominent participant in the proprietary trading market. Tradeify’s creative funding strategy enables traders to begin trading without the customary obstacles of completing tests or problems. This article will examine Tradeify prop firm account types and differences, their features, and how they stack up against each other.

An Overview Of Tradeify Prop Firm

Flexibility and quick access to funds are given top priority in Tradeify’s distinctive business model. Tradeify offers instant funding choices through a variety of account kinds, in contrast to many proprietary trading organizations that require traders to pass assessments or challenges. Both new and seasoned traders who want to concentrate on trading without having to worry about strict evaluation procedures will find this approach intriguing.

Tradeify Account Types

The three primary account categories that Tradeify provides are Advanced, Growth, and Straight to Sim Funded. Every account type has its own set of rules, cost plans, and risk control tools.

1. Advanced Accounts

• Account Sizes: $50,000, $100,000, and $150,000 are available.
• Pricing: The $50K account costs $99 per month, while the $150K account costs $229.
• Profit Objective: Depending on the size of their account, traders must reach a 6% profit objective ($3,000 for a $50K account, for example).
• Maximum Contracts: For the biggest account size, there can be up to 15 mini contracts (150 micros). 
• Daily Loss Limit: There isn’t a daily loss cap, however for the $50K account, there is a $2,000 trailing maximum drawdown, which rises with higher balances.
• Drawdown Mode: Losses are monitored in real time during the trading day since the drawdown is evaluated intraday.
• Minimum Trading Days: In order to be eligible for payouts, traders must trade for a minimum of one day.

For seasoned traders who are at ease with more stringent risk management procedures and who desire real-time trade monitoring, this account type is perfect.

2. Growth Accounts 

• Account Sizes: $50,000, $100,000, and $150,000 are also available.
• Pricing: The $50K account costs $180 per month, while the $150K account costs $439.
• Profit Goal: Traders must meet a 6% profit goal, just like with Advanced accounts. 
• Maximum Contracts: For the biggest account size, there can be up to 15 mini contracts (150 micros).
• Daily Loss Cap: The daily loss cap for a soft breach is 2.5% of the account size, which would be $1,250 for a $50K account.
• Trailing Max Drawdown: The smallest account size has a maximum drawdown of $2,000, and larger accounts have a higher maximum drawdown.
• Drawdown Mode: Growth accounts employ an end-of-day drawdown evaluation, in contrast to Advanced accounts.This implies that drawdowns are not computed in real-time, but rather only at the end of each trading day.
• Minimum Trading Days: In order to be eligible for payouts, traders must trade for a minimum of ten days.

Since traders are not penalized for intraday losses as long as they complete end-of-day requirements, the Growth accounts offer greater flexibility during trading hours. 

3. Straight to Sim Funded Accounts

• Account Size: $50,000, $100,000, and $150,000 are available.
• Pricing: There is a one-time cost associated with these accounts, which ranges from $549 for a $50K account to $699 for a $150K account.
• Profit Goal: There isn’t a profit goal; traders get money instantly as they open an account.
• Maximum Contracts: Up to 15 mini contracts (150 micros) for larger accounts, which is the same limit as regular accounts.
• Daily Loss Cap: The daily loss cap for a soft breach is 2.5% of the account size, which would be $1,250 for a $50K account.
• Trailing Max Drawdown: Up to $2,500, or 5% of the entire capital, is the maximum drawdown.
• Drawdown Mode: Drawdowns are computed at the end of each trading day, much as growth accounts. 
• Minimum Days of Trading: Before becoming eligible for payments, traders must trade for a minimum of 10 days.

For traders who want to start trading right away with real funds and completely avoid evaluation procedures, the Straight to Sim Funded accounts are especially alluring.

Key Variations Among Account Types

Traders can select the best option based on their trading style and level of experience by being aware of the distinctions between these three account types: 

Pricing

• Advanced Accounts: Monthly fees ($99-$229)
• Growth Accounts: Monthly fees ($180-$439)
• Straight to Sim Funded: One-time fee ($549-$699)

Profit Target

• Advanced Accounts: Yes (6%)
• Growth Accounts: Yes (6%)
• Straight to Sim Funded: No

Maximum Contracts

• Advanced Accounts: Up to 15 minis
• Growth Accounts: Up to 15 minis
• Straight to Sim Funded: Up to 15 minis

Daily Loss Limit

• Advanced Accounts: None
• Growth Accounts: Soft breach (2.5%)
• Straight to Sim Funded: Soft breach (2.5%)

Drawdown Mode

• Advanced Accounts: Intraday
• Growth Accounts: End-of-day
• Straight to Sim Funded: End-of-day

Minimum Trading Days

• Advanced Accounts: 1
• Growth Accounts: 10
• Straight to Sim Funded: 10

Benefits of Selecting Tradeify Prop Firm

• No Evaluation Process: Tradeify gives traders instant access to capital without requiring them to complete evaluations or other requirements. For novice traders entering the market, this function greatly lowers obstacles.
• Flexible Account Options: Traders can choose an option that best suits their trading style and financial objectives from a variety of account types that are offered at various pricing points and risk management configurations.
• End-of-Day Drawdown Assessment: Drawdowns are only evaluated at the end of each day for Growth and Straight to Sim Funded accounts. Without the continual burden of real-time monitoring, this strategy gives traders more flexibility during trading hours.
• Scalability: Traders can effortlessly upgrade their accounts or oversee several simulated funded accounts at once as they acquire expertise and self-assurance in their tactics.
• Fast Payouts: Tradeify provides quick payout alternatives via Rise and other platforms, enabling traders to easily withdraw earnings into their cryptocurrency wallets or bank accounts.

Considerations When Choosing an Account

Even though Tradeify has several benefits, prospective customers should think about a few things before deciding:

• Experience Level: Growth or Straight to Sim Funded accounts, which offer less pressure regarding drawdowns during trading hours, may be a good place for novice traders to start.
• Comfort Level with Risk Management: Traders should evaluate how comfortable they are with the risk management guidelines related to each account type. Those who are confident in their trading skills could be better suited for advanced accounts.
• Financial Commitment: When choosing your account type, consider whether you would rather pay a one-time cost or a monthly subscription plan. 

In conclusion

By providing variable funding options that meet different trader demands without enforcing conventional assessment barriers, Tradeify distinguishes itself in the proprietary trading market. With its three different account types—Advanced, Growth, and Straight to Sim Funded—traders may select one that best suits their financial objectives and level of experience while taking advantage of competitive profit-sharing plans and instant access to funds.

Tradeify prop firm account types and differences creative strategy makes it a desirable option for both new and seasoned traders looking for simple funding solutions in the fast-paced financial markets of today, even as proprietary trading continues to change. Tradeify offers options to help you succeed in your trading adventure, regardless of your preference for a structured risk management environment or for instant trading. 

Frequently Asked Questions

What Account Types Does Tradeify Offer?

• Tradeify offers three main account types: Advanced Accounts, Growth Accounts, and Straight to Sim Funded Accounts. The various account types are designed to cater for different trading styles and preferences.

How Does The Profit Target Work Across The Different Accounts On Tradeify?

• Both Advanced and Growth Accounts require traders to achieve a 6% profit target based on their respective account sizes. However, Straight to Sim Funded Accounts do not impose any profit target, allowing traders more flexibility in their trading strategies.

Is There A Minimum Trading Day Requirement For Withdrawals?

• Yes, both Growth and Straight to Sim Funded accounts require traders to trade for at least ten days before qualifying for payouts. Advanced Accounts only require one day of trading.