We review a Funded Sim trader’s performance and how the account is being managed at certain milestones in their account. At TradeDay, our goal is to run a risk-managed firm and be aligned with the trader by moving them into a Funded Live account when they have demonstrated that they are ready for the move.
Funded Sim traders will be reviewed at $5k gross profit milestones in each of their funded accounts for a move to Funded Live.
The trader is required to stop trading when they have reached each milestone level and contact FundedTrader@TradeDay.com for a review.
At each milestone level, any excess profits over and above the level will be removed, the account will be reviewed, and an extension to continue may be offered, or the trader will be moved to Funded Live.
A move to Funded Live will also be considered after the third withdrawal request.
What are Funded Sim milestones?
Funded Sim milestones are points at which traders in Funded Sim accounts will have their trading reviewed by the Head of Trading. They mark significant progress in the trader's journey.
On reaching a milestone, the Head of Trading will decide if the trader will be offered an extension in the Funded Sim account to the next milestone or whether the trader is ready to move to a Funded Live account.
How do Funded Sim milestones work?
Profit milestones
When selecting a Funded Sim account, a trader can trade up to each milestone, at which point the trader will need to stop trading and contact TradeDay at FundedTrader@TradeDay.com.
The Milestones do not impact the payout policy. The trader can request a withdrawal through the dashboard at any time (once they have cleared the buffer, see FAQ here on buffers and withdrawals).
The Funded Sim profits milestones are set at every $5000, up to $20,000 on gross profits.
So the milestones are at $5,000, $10,000, $15,000, and $20,000.
In the majority of cases, traders who reach the $20,000 level and have not yet been moved to a Funded Live account will then be moved to a Funded Live account.
However, the Head of Trading may wish to extend trading for a minority of traders in the Funded Sim account beyond $20,000 (milestone levels beyond $20,000 will be set at the discretion of the Head of Trading).
Please note that any profits over and above a milestone level that are in the account before the review will be forfeited and will not be eligible for payouts, transfer to the Funded Live account, or from any extension offered to the next milestone in the Funded Sim account. When you reach a milestone, stop trading, do not continue to trade beyond it until you have been authorized to do so.
Withdrawal milestones
TradeDay will also consider moving a trader to the live account after the third withdrawal request has been made on the funded account.
What are gross profits?
Gross profits are the total profits made in the current Funded Sim accounts (after commission), so they would include current realized profits in the accounts, plus any withdrawals that have been made from the accounts.
Can a trader make withdrawals before reaching milestones?
Traders can make withdrawals at any time once they have cleared the buffer.
Traders are considered for a move to Funded Live after they have reached the third withdrawal milestone.
Milestones and new accounts/ multiple accounts
Milestones reset for each new Funded Sim account. If a trader progresses past a milestone on one Funded Sim account and subsequently loses that account, when going through a new Funded Sim account, the trader must again stop at each milestone.
Similarly, if a trader has multiple Funded Sim accounts, the trader must stop trading and be authorized to extend to the next milestone on each of the multiple accounts. An extension to the next milestone on one Funded Sim account does not mean an extension to the next milestone on all multiple Funded Sim accounts.
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