Funded trading accounts allow stock traders to get control over a decent deposit and enjoy potential gains with higher value. The main advantage of such accounts is that traders are not afraid of losses, as they are fully absorbed by the investors. On the flip side, they can only take up to 70% of the total profits. Often, it’s worth it. However, the big question is – how do traders access a funded trading account? The good news is that Tradenet, a day trading academy founded by Meir Barak, proposes a day trading challenge that can open the door to a funded account.
Best trading challenge 2019
The first months of 2019 so far have started with a strong bullish trend in the US stock market, with the main three indexes – Dow Jones, S&P 500, and NASDAQ – recovering the losses suffered at the end of 2018. You can benefit from this market revival by trading via a funded account, and you may get this opportunity by taking part in Tradenet’s amazing day trading challenges.
The concept of a trading challenge is simple – traders are offered a demo account with virtual money, and they have to demonstrate their skills. The organizer set a certain profit level to filter the winners and impose several conditions to make the event more competitive.
Speaking about Tradenet’s day trading challenge, it represents a five-day event during which traders are given a $10,000 demo account and encouraged to generate a net profit of no less than $500. Does it sound easy for you? Well, the tricky part is the set of conditions that each trader must adhere to, which refer to the maximum total and daily loss limits, minimum daily profits limits, and so on. All in all, Tradenet’s challenge accurately filters the best traders out there, with the winners getting access to a $14,000 funded account, a real one at this time. What makes this challenge appealing is that it’s free for anyone, so you are not losing anything if you give it a shot right now.
Other trading challenges out there
Tradenet is not the first company to host a trading challenge. Similar contests are proposed by other trading schools, online brokers, platform providers, independent investors, and other entities.
For example, one of the most popular trading challenges in the US is the think or swim Challenge. The trading event is conducted in teams of students that compete with other teams from colleges and universities across the US. The winners receive some material prizes and a small funded account with TD Ameritrade. The four-week event held annually allows students to learn trading by getting access to a paper account with $500,000 virtual money.
A similar trading challenge is organized by the Chicago Mercantile Exchange (CME) each year. The event represents a four-week competition that allows US-based teams of students to trade CME products from multiple asset groups in a simulated environment. The winners get cash prizes and other perks.
While the trading challenges offered by CME and thinkorswim are great, they have many drawbacks compared to Tradenet’s competition. To start with, Tradenet is open to participants from all over the world rather than the US alone. Also, the 5-day trading challenge is available at any time while the mentioned two events are carried out once per year. With Tradenet, there are no material prizes, but winners get access to a funded account, which demonstrates a professional approach. There are more differences which makes Tradenet’s challenge the best trading competition in 2019.
Apply for Tradenet challenge
Applying for the Tradenet’s day trading challenge is easy. You have to enter the event’s page and fill in the blanks with your personal data. This might bring you closer to a funded account worth $14,000 to trade NYSE-listed stocks.
The winners of the trading challenge are provided with a live account, so they can start a trading career for real. For example, Martha Lopez from Delaware, US, recently found out that she was a winner, which admitted that the challenge was hard. Elsewhere, Carlo Bernabe from Canada heard about Tradenet’s challenge via YouTube. He made an attempt as he wanted to learn more about trading and eventually became a winner. Bernabe stressed that the demo challenge had helped him become more disciplined.
Tradenet offers one of the best trading challenges in 2019, and it’s free for everyone.