Funded trading accounts have become a popular option for individuals looking to break into the trading industry without taking on the full risk of their own capital. One such provider is Try Day Trading, which promises to offer traders a funded account once they pass their training program.
However, a closer look at Try Day Trading reveals several red flags that potential traders should be aware of before committing their money to the program. This article will provide an objective analysis of Try Day Trading, including its training program details, pricing, and performance reports.
In addition, we will compare Try Day Trading to other funded trader account providers in the market, such as TopstepTrader and Maverick Trading. Aspiring traders should approach funded trading accounts with caution, and it’s crucial to consider all available options before making a decision.
Key Takeaways
- Try Day Trading is a company that offers a 12-week all-inclusive training program for forex trading, with one-on-one coaching provided and access to capital through funded account programs.
- The company’s pricing and product details are hidden, and it is one of the most expensive funded trader programs available.
- Try Day Trading’s performance reports look suspicious, with profits only summing up trades shown in webinars and no real track records published via real account statements.
- There is no information provided on the company’s educators or number of members, and it is not recommended to choose Try Day Trading as a funded trader account provider without considering other alternatives first.
Background Information
The background information of Try Day Trading has been previously outlined. However, it is important to note that the lack of information on the educators or founders of the company raises some concerns regarding the quality of education provided.
Additionally, there is no information available on the number of members enrolled in the program. This lack of transparency regarding the people behind the company raises questions about the legitimacy of the program.
Furthermore, there is a lack of performance transparency. While Try Day Trading provides performance reports, they are not verified and look suspicious. Additionally, the critical aspect of profits only being summed up from trades shown in webinars raises doubts about the actual profitability of the program.
The absence of real track records published via real account statements further adds to the lack of transparency. In conclusion, the lack of founder and coach information, as well as performance transparency, are red flags that potential students should consider before choosing Try Day Trading.
Training Program Details
The training program offered by Try Day Trading is a 12-week all-inclusive program for forex trading that provides one-on-one coaching and access to capital through funded account programs. The program claims to use proprietary leading indicators to help students exploit inefficiencies in the currency market. Successful graduates are eligible for a Forex Funded Trading Account, but this requires completion of a three-step process, including the completion of a free Forex Day Trading Course, enrollment in a one-on-one coaching program, and successful graduation from the coaching program.
However, the program’s cost is one of the main drawbacks for potential students. Try Day Trading charges $6,995 for the Pro Funding Student Subscription, which includes 12 weeks of one-on-one coaching and requires a minimum of two training sessions per week. The Trader Executive Student Subscription is even more expensive, at $15,395, and offers immediate access to the team’s proprietary leading indicator software.
Moreover, there is no free trial available for the Forex Funded Trading Accounts, which makes it difficult for potential students to evaluate the coaching effectiveness before committing to the program.
Comparison to Other Programs
In comparison to other funded trader programs, Try Day Trading stands out as one of the most expensive options available. Their Pro Funding Student Subscription costs nearly $7,000, which is significantly higher than other options like TopstepTrader and Maverick Trading.
While Try Day Trading’s program does offer a 12-week all-inclusive training program and one-on-one coaching, the high cost may be a deterrent for some traders.
When considering funded trader programs, it is important to weigh the pros and cons of each option. While Try Day Trading may offer a comprehensive training program and access to capital through funded account programs, the high cost and lack of verified income statements may be concerning for some traders.
On the other hand, options like TopstepTrader and TopStepFX offer futures and forex trading programs without any upfront charges, making them more accessible for traders who are just starting out.
Ultimately, traders should carefully consider their options and do their research before choosing a funded trader program.
Frequently Asked Questions
What is the success rate of Try Day Trading’s graduates in obtaining funded trading accounts?
There is no information available on the success rate of Try Day Trading’s graduates in obtaining funded trading accounts.
However, potential students should be aware that the coaching fees for the 12-week all-inclusive forex trading program are relatively expensive, with the Pro Funding Student Subscription costing $6,995 and the Trader Executive Student Subscription costing $15,395.
Compared to other funded trader programs like TopstepTrader and Maverick Trading, Trydaytrading’s coaching fees are among the most expensive.
It is important to thoroughly research and compare different funded trader programs before making a decision.
Are there any additional fees or charges beyond the subscription cost for the coaching program?
Have you ever wondered if there are any hidden fees beyond the subscription cost for the coaching program offered by Try Day Trading?
While the website provides information about the subscription options for the coaching program, it is not transparent about any additional charges that may occur.
It is crucial to consider coaching program transparency when choosing a funded trader account provider.
In contrast, other providers like TopstepTrader and Maverick Trading offer more transparency regarding pricing and product details, making them more attractive options.
Therefore, it is essential to carefully review the terms and conditions and ask for clarification about any hidden fees before enrolling in Try Day Trading’s coaching program.
What is the minimum required trading experience or knowledge to enroll in Try Day Trading’s coaching program?
The minimum requirements and coaching program eligibility for Try Day Trading are not clearly stated in their website. It is unclear what level of trading knowledge or experience is required to enroll in their coaching program.
However, successful graduation from the coaching program is a prerequisite for eligibility to their Forex Funded Trading Account.
The enrollment criteria for the coaching program includes completing their Free Forex Day Trading Course and enrolling in their Forex One-on-One Coaching Program. Two subscription options are available, the Pro Funding Student Subscription and the Trader Executive Student Subscription, with varying coaching fees and immediate access to their proprietary leading indicator software.
It is important for potential students to inquire about the specific enrollment criteria and minimum requirements before considering Try Day Trading’s coaching program.
Does Try Day Trading offer any ongoing support or resources for graduates after completing the coaching program?
Regarding ongoing support and resources for graduates, Try Day Trading does not provide clear information on its website. It is unclear if graduates receive any ongoing support or resources after completing the coaching program and receiving access to a Forex Funded Trading Account.
While the program offers one-on-one coaching and access to proprietary leading indicators, it is concerning that there is no mention of ongoing support or resources for graduates. As such, individuals considering Try Day Trading should carefully evaluate the program’s offerings and their own needs for ongoing support before making a decision.
Other funded trader account providers, such as TopStepTrader and Maverick Trading, may offer more comprehensive support and resources for graduates.
Are there any restrictions or limitations on the funded trading accounts offered by Try Day Trading?
The funded trading accounts offered by Try Day Trading are subject to certain restrictions and limitations, although the specific details are not readily available on their website.
It is unclear what the minimum and maximum account sizes are, what the maximum leverage is, and what the profit sharing ratio is between the trader and the firm.
Additionally, it is not clear what the risk management policies are, such as the maximum drawdown allowed or the frequency of margin calls.
It is possible that Try Day Trading imposes other restrictions and limitations on their funded accounts, such as the types of trades allowed or the frequency of withdrawals.
Without more information, it is difficult to assess the suitability of their funded trading programs for aspiring traders.
Conclusion
In conclusion, potential traders looking to invest in Try Day Trading as a funded trader account provider should exercise caution and thoroughly research the program before committing any funds. The review reveals multiple red flags that suggest a lack of transparency and real track records published via real account statements, which can be concerning for investors. The program’s hidden pricing and product details also raise questions about the legitimacy of the program.
Furthermore, Try Day Trading is one of the most expensive funded trader programs available, compared to other options like TopstepTrader and Maverick Trading. This statistic highlights the importance of considering all available alternatives before making a decision. Traders must carefully evaluate the costs and benefits of each program to ensure they are making an informed investment decision.
Overall, due diligence is crucial when considering any funded trader program, and traders must thoroughly research the program’s performance, pricing, and track record before investing their money. The review of Try Day Trading serves as a reminder of the importance of conducting thorough research and due diligence before committing any funds to any program.
