Overview
Apex Trader Funding, established in 2021 , has quickly become a notable name in the proprietary trading firm landscape, particularly for futures traders. The firm primarily offers access to trading capital through a “One-Step Evaluation Process,” designed to identify skilled traders. They report a global community of traders spanning over 150 countries, though an extensive list of restricted countries applies. Apex Trader Funding positions itself as a straightforward path to a funded trading account, emphasizing simple risk rules and trader-friendly benefits.
Key Features & Offerings
- Evaluation Model: The core offering is a one-step evaluation. Traders need to meet a profit target within a set drawdown limit, trading for a minimum of 7 days (promotional 1-day passes may occasionally be available).
- Account Sizes: A range of account sizes are available, from $25,000 up to $300,000, including a $100,000 static drawdown option.
- Profit Split: Apex offers a highly attractive profit share: traders keep 100% of their first $25,000 in profits per account, and 90% of profits thereafter.
- Trading Conditions:
- No Swing Trading: Trades must be closed daily by 4:59 PM ET; holding positions overnight or over weekends is not permitted.
- No Daily Drawdown (Standard Accounts): Most evaluation accounts (excluding the static drawdown option) do not have a daily drawdown limit, relying on a trailing threshold drawdown.
- News Trading: Permitted.
- Scaling: No scaling rules within the evaluation phase; traders can use the maximum contract size for their chosen account from day one.
- Trading Platforms: Supports Rithmic and Tradovate, which allows connections to various third-party platforms like NinjaTrader (a free license is often included for funded accounts), and also offers WealthCharts.
- Multiple Accounts: Traders can manage up to 20 accounts simultaneously.
- Payouts: Can be requested every 8 trading days. There’s a “Safety Net” (minimum balance requirement above profit) for the first three payouts, and maximum payout caps for the first five payouts, varying by account size. The minimum payout amount is $500.
Product Offerings Table
| Account Plan | Starting Capital | Profit Goal | Trailing Threshold / Static Drawdown Details | Max Contracts (Full/Mini Equivalent) | Daily Drawdown | Min. Trading Days to Pass | Evaluation Fee (Rithmic – Example) |
|---|---|---|---|---|---|---|---|
| 25K Full | $25,000 | $1,500 | Trailing Threshold $1,500 | 4 (40 Micros) | None | 7 | $147/month |
| 50K Full | $50,000 | $3,000 | Trailing Threshold $2,500 | 10 (100 Micros) | None | 7 | $167/month |
| 100K Full | $100,000 | $6,000 | Trailing Threshold $3,000 | 14 (140 Micros) | None | 7 | $207/month |
| 100K Static | $100,000 | $2,000 | Static Drawdown (Daily Drawdown $625) | 2 (20 Micros) | $625 | 7 | $137/month |
| 150K Full | $150,000 | $9,000 | Trailing Threshold $5,000 | 17 (170 Micros) | None | 7 | $297/month |
| 250K Full | $250,000 | $15,000 | Trailing Threshold $6,500 | 27 (270 Micros) | None | 7 | $517/month |
| 300K Full | $300,000 | $20,000 | Trailing Threshold $7,500 | 35 (350 Micros) | None | 7 | $657/month |
Pros:
- Highly Competitive Profit Split: The 100% share on the first $25,000 in profits, followed by a 90% share for the trader, is among the most generous in the industry. This allows successful traders to quickly recoup evaluation costs and build capital.
- Simplified Evaluation: The one-step evaluation process is often seen as more straightforward and less time-consuming than the multi-stage challenges common at other firms.
- Significant Scalability: The ability to trade up to 20 accounts simultaneously offers substantial potential for scaling trading capital and diversifying strategies.
- No Daily Drawdown (on most accounts): For accounts with a trailing threshold, the absence of a separate daily drawdown limit can simplify risk management for some intraday traders.
- Platform Choice: Support for popular platforms like NinjaTrader, Tradovate, and Rithmic provides flexibility.
- Rapid Qualification Potential: With a minimum of only 7 trading days required (and occasional 1-day pass promotions), traders can potentially access funded accounts relatively quickly.
- Responsive Support: Many users have reported positive experiences with Apex’s customer support, citing quick and helpful responses.
Cons:
- Strictly Intraday Trading: The requirement to close all positions by 4:59 PM ET makes Apex unsuitable for swing traders or those whose strategies involve holding positions overnight or over weekends. This is a significant limitation compared to firms that offer more flexibility.
- Relatively New Firm: Established in 2021, Apex has a shorter operational history than some of the more tenured prop firms in the market.
- Complex Payout Conditions for Early Withdrawals: The “Safety Net” requirement (maintaining a balance significantly above the profit target) for the first three payouts and maximum withdrawal caps for the first five payouts can be restrictive and complex to navigate for traders seeking early liquidity.
- Extensive Restricted Countries List: Despite a stated global presence, a lengthy list of restricted countries limits accessibility for many international traders.
- No Direct Funding Option: Apex follows an evaluation-first model; there are no “straight-to-funded” accounts that bypass the evaluation process. This may be a drawback for experienced traders seeking immediate funding.
- Support Consistency Concerns: While often praised, some traders have reported inconsistencies in support response times, particularly for critical issues like payout disputes.
Overall, Apex Trader Funding presents a compelling option for intraday futures traders who are confident in their ability to pass a one-step evaluation and can operate within the firm’s specific trading hours and payout structure. Its profit-sharing model and scalability are significant attractions. However, the lack of swing trading allowance and the intricacies of its initial payout rules are important considerations.