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DayTraders Review
An in depth first person review of DayTraders from Kane Simons, rules, payout speed and current discount code.
Kane Simons (TraderKane) is the founder of Prop Firm Compare and a futures trader with 10+ years' experience. Having earned $3.5 million in prop firm payouts, he provides unbiased reviews, comparisons and insights based on real trading experience.
How this review was done
Am not currently trading with DayTraders, so this review is based on its published rules rather than my own account.
Picked the account I would buy from DayTraders' current lineup, the 50K EOD.
Have not taken a payout from DayTraders. The payout section covers its published rules only.
Kane’s Review of DayTraders
Kane Simons (TraderKane)
Founder, Prop Firm Compare · reviewed DayTraders from its published rules, not currently trading with the firm
DayTraders is a futures firm that pays a 100% split on funded accounts. I am not currently trading with DayTraders, so this review is based on its published rules rather than my own account. The account I like is the 50K EOD. The thing to understand before buying is that the daily loss limit is a hard limit, and hitting it ends your trading for the day.
What I liked
One time fee of $105 for a 50K EOD, with a $5 activation fee
End of day trailing drawdown that does not trail during the session
A 100% profit split on funded accounts
10 minis or 100 micros from the first day, on a 50K
Only 2 qualifying days needed to pass
Payouts approved before the daily reports load, 5:00 to 6:00 PM ET, show the same day
Up to 5 EOD accounts at once
What to watch
A $1,250 daily loss limit on a 50K, and hitting it pauses the account for the rest of the day
A 50% consistency rule in the evaluation, tightening to 30% once funded
Each qualifying day needs at least $200 net profit
Payouts are capped at $2,000 per request on a 50K, with a $500 minimum
Your balance must be at least $52,600 to request a payout on a 50K, and stay at $52,000 or more afterwards
If you are moved to a live account, your simulated accounts close and any excess simulated balance is generally forfeited
Trading runs on Rithmic for now, with DayTraders' own ArcTrader platform listed as coming soon
Code LAB does not work with DayTraders
DayTraders' 50K EOD Account
A 50K EOD costs $105 as a one time fee. It asks for $3,000 profit inside a $2,000 end of day trailing drawdown, with a $1,250 daily loss limit and up to 10 minis or 100 micros. The drawdown is set from each session's closing balance and does not move during the day.
To pass, you need at least 2 qualifying days, even if you hit the target sooner. A qualifying day means at least $200 net profit while staying inside the 50% consistency rule. Once you pass, a $5 activation fee moves the account to Pro EOD, which includes free real time data.
DayTraders also sells trailing, static and instant accounts. It does not sell live accounts directly. Its Straight to Live programme still requires you to pass an evaluation first. The full lineup is on the challenges page.
Payouts
I have not traded with DayTraders or taken a payout from them, so this section covers their published rules only.
Pro EOD accounts pay a 100% split on simulated profits. A payout needs 8 qualifying days of at least $200 each since your last payout or activation, and the day you request does not count. Your best day can be no more than 30% of the cycle's profit. On a 50K, your balance must be at least $52,600 to request and must stay at $52,000 or more after the payout. Requests start at $500, go up in $50 steps and are capped at $2,000. You need a payout method set up, either Plane or the DT Wallet. Payouts approved before the daily reports load, between 5:00 and 6:00 PM ET, are reflected the same day.
Traders can be called up to a live account. When that happens, your simulated accounts close, and any excess simulated balance is generally forfeited, though DayTraders' Risk Team may use it as a performance reward in live. DayTraders' advice is not to build large excess simulated balances. That is DayTraders' published policy, not my own experience.
Which Account Would I Choose?
Kane's Pick: 50K EOD
This is the DayTraders account I like. A one time fee of $105, end of day drawdown, 10 minis and a 100% split make it strong value. The hard daily loss limit, the 30% funded consistency rule and the $2,000 payout cap are the trade.
DayTraders' trailing and static accounts suit traders who prefer those drawdown types. Compare them on the challenges page.
Who I Would Recommend DayTraders To
Choose DayTraders if you want a one time fee, end of day drawdown and a 100% split. If you want no daily loss limit, compare Lucid Trading.
Kane’s DayTraders Review FAQs
The 50K EOD. It costs $105 one time with a $5 activation fee, uses end of day trailing drawdown, allows 10 minis and pays a 100% split.
Fairly. The drawdown is end of day and the daily loss limit stops a bad day from going further. Beginners should know the funded consistency rule is a strict 30%.
A hard $1,250 daily loss limit on a 50K, a 30% consistency rule once funded, $200 minimum qualifying days and a $2,000 cap per payout.
Not through Prop Firm Compare, since code LAB does not work with DayTraders. DayTraders says it uses one standard price rather than discount codes. Check the DayTraders discount codes page for any current offer.
Traders who want a one time fee, end of day drawdown and a 100% split, and who trade steady days rather than one big session.
The 100% split and a $5 activation fee stand out. The trade is a hard daily loss limit, a 30% funded consistency rule and capped payouts.
A hard daily loss limit, a strict funded consistency rule, a $2,000 cap per payout on a 50K and Rithmic as the only platform for now.
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