Tradiac Review

Tradiac Ratings at a Glance

Tradiac Product Offering

Like most prop firms, Tradiac allows traders to demonstrate their skills and secure funding, with the potential for scaling up capital based on performance. However, unlike most prop firms, Tradiac is well established and capitalized to pay out winnings without relying on funds from challenge fees paid by traders. Here's a breakdown of the Tradiac offering. 

Trading Accounts

To qualify for funding, Tradiac lets you prove your trading expertise via any of its three trading accounts or tracks: Tradiac, Brainiac and Maniac. These multiple account options ensure traders can select the most suitable choice in line with their risk tolerance. The three accounts have a similar range of sizes ($10,000 to $100,000) but different account fees. If you're a beginner, the $10,000 is an excellent option, while more expert traders should consider the $100,000 account. The evaluation challenge is the same single phase across all account options, but the trading rules differ.

If you're a conservative trader with excellent risk management strategies. In that case, consider the Tradiac option, which features the lowest profit target (10%) and drawdown rules (5% daily and 10% max overall draw). This account offers the lowest fees, ranging from $95 to $950 across the four account sizes. The Braniac is ideal for balance-headed traders with moderate risk management strategies as it offers a higher drawdown limit — 10% daily and 20% max or overall drawdown. 

Higher drawdown limits offer you ample room to make mistakes during evaluation and correct them without violating the rules. However, you must remember that this account option also requires a higher profit target of 20%. With the Maniac account, you can be more aggressive in implementing your strategies. It has significantly higher drawdown limits — 15% daily and 30% max overall drawdown for both the challenge and live account. You should consider this account if you favor large lot sizes or are a swing trader seeking a more passive approach without constant trade monitoring. However, you must remember that this account also has a significant profit target of 30%.

Risk Management and Trading Rules 

Before you jump into any of Tradiac's enticing offers, you must understand how drawdown rules work, as violating them may lead to evaluation disqualification or account closure. Suppose you're a beginner trader who purchased the $10,000 account size. In that case, your evaluation goal is to achieve $1,000 in profit (10% of $10,000). However, while aiming for this profit target, you must maintain a daily loss limit of at most 5% of your starting balance or closing balance for the previous trading day. Max loss is based on high water mark, therefore if you make profits, your max loss is based on the new high water mark.

For example, say you make a profit of $500, your high water mark moves to $10,500 and your max loss would be $1,050, or $9,450 instead of $9,000. Benzinga's calculation assumes that you commenced evaluation today, so your starting balance matches your starting capital of $10,000. You may incur losses or earn profit at market closing; that is fine. The vital thing is that you stay within your daily loss limit. 

For instance, suppose you incurred $200 in losses at market closing. In that case, your closing balance would be $9,800 ($10,000 - $200), which becomes your starting balance for the next trading day. Adhering to the 5% daily loss limit implies avoiding incurring up to $490 (5% of $9,800) in losses or having your starting balance for that day drop to $9,310. At the same time, you must comply with the 10% overall drawdown (or maximum loss), which means you mustn't exceed a loss equal to 10% of your starting capital during the evaluation. 

The max loss serves as a safety net for your account. You'll violate this rule for the $10,000 account if you lose up to $1,000 (10% of $10,000) or your balance drops to $9,000. However, this drawdown is trailing and may lock in once you hit 10% profit. Unlike most prop firms, Tradiac doesn't mandate you set up a stop loss, and there's no time limit to complete the evaluation. Tradiac supports news trading and holding of trades on weekends and overnight. HFT and arbitrage trading fall outside acceptable trading practices.

You must also place a trade at least once in 30 days to avoid account termination. Upon passing the evaluation, you'll undergo KYC identity verification. If successful, Tradiac will provide you a funded account to trade live, a 90% profit slip and potentially scale up. 

Scaling Plan

Tradiac provides a generous scaling plan for all funded accounts, aligning with its dedication to assisting skilled traders in maximizing profitability through substantial trading capital and swiftly attaining financial independence. With Tradiac's scaling plan, you can gradually grow your $10,000 account size to a maximum of $1 million through consistent performance, maximizing your potential earnings. This goal might sound exaggerated, but it is realistically attainable thanks to Tradiac's innovative scaling approach. 

To scale up, you must hit a 10% profit target on your funded account while adhering to the trading rules unique to your account from evaluation. Subsequently, Tradiac will send your payout and then scale up your account. The amount you scale by depends on your starting capital. If you start with $10,000, you'll get an additional $10,000 every time you scale up. 

Checkpoint and Redemption Test

The redemption test is the innovative approach Tradiac employs to keep you in the trading loop, ensuring you can achieve significant capitalization via scaling and long-term financial success. Here's how it works. 

Suppose you increase your $10,000 funded account to $11,500.50. In that case, Tradiac will split the $1,500.50 difference, giving you a $1,350.45 payout (90%) and retaining $150.05. Tradiac will then add $10,000 to your account size, making it $20,000, and will continue adding $10,000 at each scaling level as you progress. Typically, scaling up happens automatically. Once you reach the profit target, you'll be prompted to flatten your account; Tradiac will automatically send your payout and scale up your account. 

Now, here's where it gets interesting: your previous level is automatically saved as your checkpoint. For instance, at the third scaling level ($10,000 > $20,000 > $30,000), Tradiac will save your checkpoint at $20,000. If you violate the risk management rules at any level, Tradiac allows you to redeem yourself via a redemption test. This process ensures you never have to start over again as you scale up and maintain progress. The redemption tests adhere to the same rules as challenges. They are conducted based on the account size corresponding to your checkpoint.

In the example above, your redemption will be set at the $20,000 checkpoint if the violation happened at the third level ($30,000). The applicable redemption fee is a small percentage of the capital used for the test; $20,000 in this case. On completing the redemption, you get a new funded account on the same level as your checkpoint. This innovative approach that ensures you don't start over from scratch distinguishes Tradiac from many other prop firms. Remember you must purchase the redemption test at most 30 days after failing. Also, you can take the redemption test multiple times.

Brokerage and Trading Platforms

Tradiac provides trading services through its broker partner, Scandinavian Capital Markets, a multi-asset brokerage with a wide range of assets and favorable trading conditions. So you can trade your favorite instruments, including forex, metals and indices, with competitive leverage and tight spread. The execution platform is MetaTrader 5 (MT5), the successor to MetaTrader 4 (MT4). MT5 provides more robust features, encompassing advanced charting tools, many indicators for streamlined technical analysis and lightning-fast execution. 

Additionally, it supports automated trading tools and EAs. Tradiac also offers a user-friendly mobile app providing flexible means to showcase your capabilities and scale with additional capital based on performance. All your trading platform credentials, including the MT5 account number, password and server address, are readily accessible via the mobile app.

Tradiac provides efficient customer support across multiple channels, including LiveChat, email and its Discord channel. You can ask questions or file a complaint through these channels and have it addressed or resolved. If you seek urgent complaint resolution, consider LiveChat; the response time is under a minute. Discord offers an interactive environment for you to connect, chat and share your experience with the Tradiac trading community and, in turn, receive valuable trading insights, ideas and tips from other traders. 

It fosters a culture of community engagement, promoting a conducive environment for learning among traders. An even better means of directly accessing precise information on general questions without involving customer support is via the FAQ page or Help Center. These questions encompass the platform's core services, including account setup, account types, evaluation rules, leverages and commissions. 

Besides Discord, Facebook and Twitter provide another means of connecting with the support team and potentially interacting with other community members. Tradiac has an excellent Trustpilot rating of 4.6/5 from 26 reviewers. Although the number of reviewers seems insignificant compared to other competitors, the exceptional ratings and overwhelmingly positive comments underscore the professionalism and efficiency of the customer service and the quality of the platform's overall offering.

Tradiac prioritizes user privacy protection, implementing adequate security measures to safeguard clients' data. The prop firm employs standard encryption protocols to protect sensitive data during information transfers via its website and at rest. Like most online services, Tradiac may use personal information collected during registration or sign up for enhanced and personalized service delivery and marketing purposes. However, Tradiac will never sell or share clients' data or personally identifiable information (PIS) to any third-party service without the user's consent except when mandated via legal precedents. 

Tradiac offers affordable and transparent pricing for each account size across its three accounts. The account sizes are the same across each option, but the range of pricing differs, as shown in the table. 

Thanks to Tradiac's broker-partner, Scandinavian Capital Market, you can benefit from tight to zero-spread trading. This means you have direct access to institutional pricing of tradable instruments without additional mark-up by the broker. The only applicable fee is a remarkably low commission of $3.50 per side ($7 per lot) on forex and metals. There are no commissions for trading oil or indices. 

Tradiac offers a competitive leverage of up to 20:1. Tradiac's 90% payout ratio applies across all account sizes and requires no add-on purchases. Tradiac adopts a flexible payout approach, allowing you to decide when to withdraw your funds. You can request a payout up to twice a month. However, your requested payout must be at least 2% of your starting balance. For instance, at the second scaling level with a starting balance of $20,000, the minimum profit share you can request is $400 (2% of $20,000).

In this scenario, your payout would be $360, and Tradiac's share would be $40. On requesting a payout, Tradiac would immediately deduct the requested amount from your account, which can take up to 72 hours before hitting your account. Tradiac processes payout through Bank Wire, PayPal or USDt (Tether). Remember, scaling your account to the next level requires reaching the profit target, which can take longer when you frequently take funds from your account. Tradiac is currently offering clients a free upgrade with any purchase of a $50k account to an equal $100k track account, the equivalent of a 50% discount. This offer lasts until the end of December 2023.To qualify, once you purchase a $50k account email the support team and they will make the upgrade for you. Note, this promotion is not valid with use of any discount code.

Tradiac offers an excellent user experience, providing multiple account sizes and different pricing structures within its three account options to cater to traders or investors with varying experience levels and financial situations. Its straightforward single-phase evaluation offers flexible rules, enabling you to showcase your expertise and access funding without hassle. Tradiac's innovative scaling plan rewards consistent trading performance through increased account size, meaning more significant payouts. The redemption test specifically ensures you won't start from scratch when you violate the rules after funding. Also making it the most realistic chance to scale up in funds without starting from the beginning each time you hit an account failure.

The MT5 trading platform streamlines technical analysis and fast execution, enhancing user appeal. To get started, scroll down the homepage and click Join Now. On the next page, select your preferred account size, click Create Account under your chosen account option, sign up with your email and complete the payment for your challenge fees. You'll receive the requisite login credentials to access the MT5 dashboard and start trading in under 10 minutes. 

Besides Tradiac's affordable challenge fee, generous payout, excellent trading conditions and innovative scaling plan, its customer support and community-oriented Discord channel also contribute to a fantastic user experience. Tradiac is committed to helping talented undercapitalized traders succeed and is well-positioned to achieve such a goal due to its robust financial backing from a hedge fund. Benzinga considers Tradiac highly recommendable. 

Tradiac vs. Competitors

Tradiac has many competitors like FundedNext, FX2 Funding and Trade The Pool (TTP). Like Tradiac, these prop firms streamline fund accessibility, benefiting undercapitalized beginners and seasoned traders aiming to increase their trading capital and potentially earn higher profits. Tradiac edges these firms in multiple ways, including generous  90% payouts, single-phase evaluation with the most flexible drawdown rules, innovative scaling plans and proprietary risk management features to minimize potential losses. Tradiac supports multiple strategies, allowing you to trade with your preferred technique without hassle. It is one of the rare prop firms that doesn't mandate traders setting up stop losses.

Tradiac is among the top prop firms to consider when seeking fast funding access. The experience of its founders and platform managers encourages trust for clients as does the comprehensive nature of the offering, which means users have a one-stop shop without the need to pay for add-ons. The platform's hedge fund backing indicates strong financial standing and capability to fulfill its payout obligations to dedicated, talented traders. The hedge fund has more to gain from finding skillful and profitable traders, as it can copy their trading strategies. 

The evaluation rules are straightforward, and the high drawdown means you have plenty of room to trade your strategy without fearing account breaches. Tradiac's innovative scaling plan boosts your chances of hitting seven-figure capitalization. This feature is in addition to the excellent payout, conducive trading environment, and reasonable account pricing. Its professionalism and dedication to genuinely assisting talented traders to excel make it a compelling option in the prop trading landscape.

Frequently Asked Questions