Tradenet Funded Account Program – How It Works

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How it works

Synchronous Trading is a copy trading solution which enables investors to copy the trades of experienced traders. Investors can employ their funds without being required to be able to make prompt decisions on their own, and execute individual trading transactions in the market manually, while traders may get extra income in the form of commission reward for successful trades that investors make based on the copying of the trader’s transactions.

Investor
Registers as an investor
Selects a trader from the rankings

Links his/her account to a trader account Gets financial results in proportion to the trader’s yield

Trader
Registers as a trader
Executes trading transactions by using own equity (the amount in the trader account must be at least $300)
Trades are copied to a respective investor account
Receives a commission reward based on the investor’s profit

How does an investor make money?

An Investor sets a specific ratio of trade-copying when linking his/her investor account to a trader account. The volume of a trading transaction on the investor account is calculated based on this ratio, and also the relation between the investor’s equity and trader’s equity.

**The equity includes own funds in the account balance..

Investor-Trader interaction

Let’s say, an investor became interested in the trading track record and strategies of a certain trader, whose commission fee is 10%. The investor linked his/her investor account with the account balance of $10,000 to a respective trader account, and then set the copying ratio at 100%. The trader then opens a buy position of 0.5 lots in EUR/USD at the price of 1.12, with the amount of $5,000 in his/her trading account.

The trader closes the buy position of 0.5 lots in EUR/USD at 1.13 and locks in a profit of $500. In this case, the investor’s profit is $1,000. The trader’s reward of $100 (10% of the Investor’s profit) is reserved in the commission retention account, and then it is distributed between the trader and investor during the settlement procedure.

Tradenet Review

Review

Tradenet is a stock day trading academy which, for a fee, seeks to teach its clients how to successfully day trade U.S. stocks. It offers education, a revenue share from a funded account, a range of courses and mentorship programs, and a live trading room and seminar program.

Tradenet was founded in 2004 by Meir Barak, professional day trader and author of “The Market Whisperer”. He serves as the company’s chair, chief trader, and professional mentor. He is assisted by a team of more than seven other analysts and mentors who take a role in the provision of education and mentoring services.

The heart of Tradenet’s offer is the provision of an education and training package, which includes one-on-one mentoring, and a 2-week demo account trading program. Access is given to a live trading room focusing on day trading U.S. stocks, in which Meir Barak and other analysts, as well as program participants, make live market calls after some pre-market analysis prior to the market open. Here is how it works: clients complete an educational course and trade a demo account. After this stage is completed, the client is given a nominally funded account with the broker Colmex Pro by Tradenet. You, the client, are then free to trade without making any deposit, and may receive at least 80% of the profits you make from your trading, which can be withdrawn once each month. However, if you trade at a loss equal to at least 5% of your account’s nominal starting balance, the account is closed and the program comes to an end. There are a range of these programs to choose from, illustrated by the below diagram of Tradenet’s detailed offers.

The more money you pay, the more educational courses you are given access to, and the larger amount of nominal funding your account is provided with.

Self-Study Course

The self-study course is the lowest level of Tradenet’s education. It is also known as the “Trading Equities – Full Course” program, and is independently priced at $290. The course consists of 33 videos and 29 interactive lessons and quizzes. The static material runs to approximately 4 hours. Videos are based upon topics, are placed in a reasonably logical ordering, and typically run at about 5 minutes. After each video, there is a quiz which can be completed so the user can determine whether they have correctly taken in the important points which were taught. An advantage of such a self-study program is that the user can work through it at their own pace, and in their own time. Several of the videos are also followed by other interactional items.

Although the course contains genuinely useful and sincere information that any day trader of stocks should learn, and the information itself is of a fairly good quality, the layout and “teachable” element is not optimal, which may make this course challenging for complete beginners or for anyone not fully fluent in the English language. The video screens consist mostly of a single instructor talking to the camera, with a series of explanatory graphics.

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The narrator also on a few occasions refers to technical terms which have not been explained or even introduced yet. This is likely to be confusing for complete beginners or anyone largely unfamiliar with trading terminology, as there is a lack of definitions of key terms. Trading methodologies are explained, but not as clearly as they should be. It is probably also true that all or almost all the information contained within this course can be found elsewhere on the internet for free.

One of the most exciting features you can take advantage of when you join Tradenet’s program is access to a live and interactive trade room. The room opens shortly before the U.S. market opens at 9:30am New York time on weekdays, and is usually hosted by Meir Barak himself. There is some pre-market analysis where the likely opening situation of the market is put into context, with an initial look at the major market indices for direction. As the market opens, Meir or the presiding analyst call their own list of stocks in which they feel the best trades are likely to arise, and members are welcome to join in by text through the room’s interactive capability. Mention a stock and the analyst will, time permitting, switch to a chart of the stock and give their opinion on whether a good trade is there. The calls always include exact entry points and stop losses, as well as targets. The action is usually fast in all but the slowest market conditions, as 1 or 2-minute charts are typically used as the basis for trading.

After having spent some time watching Meir in action making live market calls, he is clearly a good host, and he also seems to be an intelligent trader. He is prepared to take short trades in certain stocks even its index is making new all-time highs, so he clearly trades very much on a case by case basis. Traders who are resolved to only ever trade with the long-term index trend can of course filter the calls made by Meir or any other presiding analyst or mentor accordingly.

Funded Account & Revenue Share

Part of Tradenet’s package is the provision of a “funded account” with the stock broker Colmex Pro. The client is entitled to withdraw a large percentage of any profits they can generate from their trading once each month, but the account ends once a loss of 5% of the initial amount is made. This needs to be considered carefully. Although a “funded account” of at least $14,000 and an entitlement to withdraw at least 80% of profit sounds attractive, its appeal probably lies more in psychology and less in reality. An account that is effectively “blown up” on a 5% loss is really an account with a true value of only 5% of its nominal amount. So instead of getting a $14,000 account, you are really being given a $700 account with leverage of 20 to 1. The fact that in this basic package, you are required to give up 20% of any profit you make from your trading is also a drawback, as it implies a true funding of 80% X $700, which is $560. However, when you consider that you are only paying $500 for the entire package, you could argue that you are getting an opportunity for free, provided you are happy to trade with the broker Colmex Pro, as there is no other brokerage option here. The true problem is that with the minimum margins, commissions, and typical losses involved in trading stocks, it would be a challenge not to lose $700 at some point, which brings the entire program to an end. Of course, it is possible to purchase one of the more expensive programs, which begin at $3,000 and offer a maximum allowable loss of $4,000. Yet why not open the account yourself with your own money at a broker of your choice, and keep 100% of the profits? Opening the “funded account” is not a requirement of Tradenet, after all.

Conclusion

There is somewhat of a learning curve when learning from the Tradenet educational system. However, there is a sincere offering here, and spending time in the trading room closely watching live calls on the market every trading day could be a way for aspiring stock day traders to learn how it can be done profitably. Those familiar with basic trading terminology and concepts should also be able to navigate the education and trading room quit easily.

TRADENET REVIEW

Posted by TradeJanis | Oct 18, 2020 | REVIEWS |

When hearing CFD trading, a lot of people think it’s scam. Because everybody have heard stories, where the CFD broker takes ”other side” of your trades but trust me, TradeNet is a different story. From my own experience I can say, I didn’t had any problems.

How did I came across TradeNet? After blowing up one of my previous brokerage accounts I was out of the game again. And when you are an average working person it’s not easy to save money for new account. So I came across TradeNet challenge and decided to try it. TradeNet challenge is where you have to prove your trading skills and if you are successful, you will receive INTRO package for FREE what usually costs $500. More about these packages and challenge a bit later.

  • FAST EXECUTIONS
  • NO BORROW FEES
  • GOOD CUSTOMER SUPPORT
  • CHAT ROOM
  • FREE CHALLENGE
  • GOOD SOFTWARE
  • FAST FUNDING AND PAYPAL OPTION
NOT SO GOOD
  • NOT ALL STOCKS ARE TRADABLE
  • PROFIT SPLIT
  • CANT TRADE PRE MARKET AND AFTER HOURS
  • LESS AND LESS SMALL CAPS TO TRADE

SO WHAT IS TRADENET?

Tradenet was founded in year 2004, by Meir Barak who is the Chairman and Head trader of company. Tradenet has now become one of the largest trader training schools and is helping hundreds of people every day to reach their dream of becoming a successful traders.

Tradenet is collaborating with an investments firm (TEFS) which allows its students to apply for account.

WHAT IS MY EXPERIENCE WITH TRADENET?

TRADENET CHALLENGE.

As I said earlier, I came across Tradenet after blowing up my account with my previous broker. They was having challenge that time, where you could get INTRO program for free, what usually costs $500. (INTRO program is special Tradenet funded accounts program, where you can trade with $14000 account. But if you drop below 13300 you are out.) I decided to give it a try.

Traded from 30.07 – 03.08 and managed to grow account by $1600. To complete challenge I was required to profit at least $500 over 5 day period. To my bad, I failed it because didn’t had necessary 6 tickets a day. At the start of challenge I didn’t thought it gonna be so important. But rules are rules.

You can see some of my trades from challenge HERE.

Don’t be confused, I am using separate TC2000 charts for trading, so usually I am marking trades there.

If you take the challenge, what I would recommend, because you can get something for free. Learning to trade eats a lot of money, if you get possibility to get something for free or discount, use it… And I would highly recommend to read through all the rules as they are very important.

You can take the challenge HERE

So after failing the challenge I was contacted by their team member and offered discount for real INTRO package. I purchased it for $399. What in my opinion is a good deal especially because you can lose MAX $700 on INTRO.

SEE THE DISCOUNTS HERE

DISCOUNTS
APPLYING FOR ACCOUNT.

After taking the challenge or purchasing any of packages you will be contacted by one of their team members usually by phone. If they cant reach you by phone, you will get an email.

Purchasing the package was fast and easy. I used PayPal what seemed like perfect payment option. No need to go through all that wiring thing.

When you pay you will receive email with confirmation and further steps what is signing the agreements and access to their Educational Centre, chat room, Meirs book ”Market Whisperer” and 14 day DEMO trading account.

TEFS not gonna allow you to trade with real money straight away. They want you to get used to software by using the DEMO account what I would highly recommend.

After registering it will take about 5 days to get your Live sub-account. Anyway you are supposed to receive email with login info stating ”Welcome to funded accounts program”.

SOFTWARE

I like it. It almost looks the same as direct access broker software. Its even showing the same LV2 prints as on direct access brokers LV2, the only thing your buys and sells not gonna show up on LV2, because it is NOT a direct access broker. Remember, you dont own purchased securities. It even makes the trading easier, because you dont need to wait for somebody to buy or sell to you shares as it is in normal market conditions. You can execute any calculated size you want and you will be filled. Just remember to manage your risk if you dont want to blow up fast.

Executions are quick. I was using hot keys. Yes they have Hot Keys. I even have a blog post how to set them up. It’s HERE if you’r interested.

WHAT HAPPENS WHEN YOU REACH THE MAXIMUM DRAWDOWN?

Yeah, what happens when you blow it up? I traded level 1 sub-account(INTRO program) account for about one week and I reached the maximum drawdown. This is what happened. I was holding ABIL over weekend to expect a Offering on Monday. With TEFS you can’t sell your position after hours or pre market. That got me badly. That day ABIL spiked pre market more than $2 and I was down more than $800 bucks. 09:30 market opened and TEFS blocked the sub-account. I still could see everything, but couldn’t trade. All together I was down $900 what is $200 more than accepted $700.

I was thinking TEFS never gonna let me trade with funded account. But to my surprise, I purchased the INTRO program and applied for level 1 sub-account with them again, and again with discount for $399.

I payed them early UK morning on Friday the 24th Aug and by US market open new account was live again. First time I did need to wait 5 days for it to be live. Now it was in the same day. So here is the answer to your question – What happens if you reach the maximum drawdown?

Only thing you cant purchase more than two INTRO programs.

After losing your second level 1 account TEFS gonna suggest you to go to the next level what is STUDENT or higher programs.

YOU CAN’T TRADE ALL OF THE STOCKS

Thats true, but as far as you dont trade small caps you are ok. All the large caps gonna be tradable. As I am trading small caps it sometimes was an issue for me. Although you will be able to trade small caps what are usually in play all the known and popular stocks. You can’t trade those witch has no previous daily volume.

DON’T APPLY FOR TRADENET IF YOUR TRADING SMALL CAPS. Recently they have removed almost all of them.

OH YEAH. PROFIT SPLIT.

When you are trading with the funded accounts programs, you are splitting the profit. But I think it’s not a big deal, because you got access to trade with large accounts and that’s the price for it. Each of sub-account levels have different splits.

  • INTRO program you can keep 70% of profits
  • STUDENT program you can keep 75%
  • EXPERT program you can keep 80%
  • PRO program you can keep 85%

There is higher programs too where you can get 90% and 95%.

FUNDED ACCOUNTS PROGRAMS

There are 4 available programs to public.

Each is more expensive than others, but have their benefits.

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