Funded Sim account vs Funded Live account

Options when funded - the choice is yours.

Funded Sim

• You are placed in a simulation account and paid from the simulated profits you make in the account.
• Access to the Funded Sim account is immediate after you have completed the onboarding steps.
• TradeDay has a one-off setup fee for both Funded Sim and Funded Live accounts of $139. 
• There is no professional market data fee to pay, we will include the same data feed you had during the evaluation.  
• There is no Slippage rule risk management rule.
• You can use your trading platform and your TradeDay evaluation dashboard to track your account progress.

Funded Live

• You are placed in the live markets on Exchange.
• After you set up with RiseWorks and we receive your paperwork, it takes up to 5 days to complete the account opening with the broker and clearing firm.
• You will be required to pay the professional market data fee of $140 per Exchange per month.
• Risk is subject to the Slippage rule for Funded Live traders.
• You can only track your progress from the Tradovate trading platform.
• TradeDay has a one-off setup fee for both Funded Sim and Funded Live accounts of $139. 

Both accounts

• Both accounts carry the same great TradeDay payout policy, see here.
• Both accounts are subject to the same rules for funded accounts—more information is found here.

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Important to note:

In a Funded Sim account, you can earn up to $5000 in profits; at this point, you must stop trading and email [email protected] to let the trading team know you have reached the Funded Sim limit. Your account will then be assessed by the Head of Trading and Risk Management. From here, you may be offered an extension to continue to trade in the Funded Sim account (up to a new profit level decided by the Head of Trading and Risk Management), or you may be moved to the Funded Live account (note, the $5000 in profits includes any withdrawals you may have taken).

You may be invited to move to the Funded Live before making $5000. 

The trading balance (after any withdrawals) will be transferred over to the Funded Live account. No additional drawdown will be transferred over.

The minimum amount that can be transferred to a Funded live account from a Funded Sim account is $1000.

Please note that any profits in excess of the $5000 Funded Sim Limit (or updated limits that may have been granted) will be forfeited and, therefore, not eligible for payouts, transfer to the Funded Live account, or from any extension offered in the Funded Sim account.

Funded Sim traders will be trading in our broker's simulated trading market. TradeDay has no control over the simulated market. Like the evaluation, a simulated trading commission is included to ensure the results reflect as closely as possible what you can expect when you move to the Funded Live account.

If you are unsure which option to take, our experience has been that the majority of traders prefer the Funded Sim option, from a cost, speed of setup, and psychological perspective (as there is a perception of a more gradual easing into trading a funded account).

Funded Sim account withdrawals - gross versus net profits

You can make withdrawals from the Funded Sim account as you earn profits.

The $5000 level at which you are assessed for a move to the Funded Live account is calculated on the profits you have made in total (gross profits). These are your total profits in your trading account, including any withdrawn profits. 

Only the net profits (your gross profits minus your withdrawals) will be transferred to the Funded Live account. No additional drawdown will be transferred at this time. Risk limits may be adjusted to reflect withdrawals. 

For example:

A trader has earned $5000 (after commission) in the Funded Sim. This is gross profit.

During this trading, the trader has taken a payout of $1500.

The gross profit is $5000 (after commission), and the net profit is $3500.

Only the net profit of $3500 will be transferred to the Funded Live account.

Funded Sim or Funded Live returning traders.

Traders previously on the Funded Sim or Funded Live accounts that are returning to TradeDay, may be asked to enter the Funded Sim, allowing the trading group to better manage its risk and assess your ability.