What is Apex Trader Funding?
Apex is a proprietary trading that specializes in providing traders with funds to trade futures, as the company is interested in helping traders trade profitably and responsibly. Since the company is a community of traders, there is an innate understanding of the challenges traders face, especially regarding getting funds to trade. The company has built a sustainable model of funding futures traders.
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Does Apex Have Easy To Follow Rules?
Yes, The contract plans offered by the Apex funded trading program have the following characteristics: very low cost, easy to pass, and very few rules. This set of characteristics enables traders to complete the challenges quickly and access a funded account.
Traders can trade as they wish, possibly trading for 23 hours a day without worrying about rules like daily drawdowns. The flexibility extends to the contracts, There is no Scaling Plan to follow, as the contracts are capped at the maximum without the traders getting penalized for going beyond their allowed contracts. There are also no restrictions against trading the news or opening/closing trading positions during holidays.
Apex is a well-funded trading program for Traders
After funding, the first profit of $10,000 that the trader earns fully belongs to them. Beyond that, the profit split is then in the ratio of 90:10, with the company only taking 10% of the subsequent profits made by the trader.
The funded trading program is designed so that traders have a higher chance of success as there are no hidden rules, while traders also have access to resources that will enhance their chances of getting funded by the company.
Who are the founders of apex?
Apex was founded by Darrell Martin, a rancher and a day trader at the same time. The company was born in 2008 and has grown into a flourishing community of traders, comprising more than 30,000 members in at least 150 countries.
As of December 2021, the company has provided futures traders with funds of over $150 million, with many of those traders having withdrawn profits already.
Is Apex a scam?
From the available reviews of people that have applied for the Apex funded trading program, it is clear the program is real and delivers exactly what is stated in the terms and conditions. The customer service is also excellent as traders are given quick and effective responses to their inquiries.
The payouts to traders are timely, and a high level of transparency causes the company to stand out from similar companies. They are also friendly to beginner traders by promoting learning to grow into better and excellent traders.
The Rating score of Apex at TrustPilot is 4,8 stars.
The reviews show that Apex is not a scam but rather a trader-centric company that is genuinely concerned with the success of traders and has a structure to support the goals and desires of traders.
Apex Challenges For Futures Traders
For futures traders interested in getting funded by Apex, there is an Evaluation process known as Apex challenges that they need to pass before becoming eligible for funding. The evaluation consists of different account sizes, as seen in the table below, and traders are free to choose the account size they have the confidence to handle.
These different account sizes have varying features such as the number of contracts, price of the challenge per month, profit goal, and the respective trailing threshold (Trailing Drawdown).
|Number of |
|Price of |
|$25K||4 (20 micros)||$147|
|$50K||10 (20 micros)||$167|
|$75K||12 (24 micros)||$187|
|$100K||14 (28 micros)||$207|
|$150K||17 (34 micros)||$297|
|$250K||27 (54 micros)||$517|
|$300K||35 (70 micros)||$657|
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Specific features for every account size:
|The Trailing Threshold |
The $25k account
The number of contracts and the price has been mentioned, but there is an accompanying profit goal of $1,500, while the trailing threshold (Trailing Drawdown) is also $1,500.
The $50k account
This profit goal is $3,000, while the trailing threshold is $2,500.
The $75k account
This account has a profit goal of $4,250 and a trailing threshold of $2,750.
The $100k account
The profit goal for this account is $6,000, while the trailing threshold is $3,000.
The $150k account
This account size features a profit goal of $9,000 and a trailing threshold of $5,000.
The $250k account
The profit goal for this account size is $15,000, while the trailing threshold is $6,000.
The $300k account
This is the biggest account, meaning all its features have the highest numbers. Therefore, the profit goal is $20,000, while the trailing threshold (Trailing Drawdown) is $7,500.
$100k static account
There is also a special account known as the $100k static account, which has a non-trailing (static) threshold of $625, but it is essentially a small account as the monthly price is $137. Also, it has only two contracts along with 20 micros, while its profit goal is just $2,000, slightly higher than that of the $25k account, which is the smallest among the normal-sized accounts.
what are Some good features of Apex?
Some features that are common to all the account sizes include:
- lack of daily drawdown
- absence of scaling plan
- Traders are not charged for NinjaTrader license and real-time data fees, which have a $75 value and $55 value, respectively.
How To Access an Apex Evaluation account?
For traders to access the Evaluation, they must sign up with Apex Trader Funding and then connect via Rithmic. For the duration of the Evaluation, trading positions can be opened using Rithmic Rtrader Pro, the company’s software. Traders are also provided with a free license to NinjaTrader through Apex trader funding, while they can also link their software to Rithmic via NinjaTrader.
Traders can have multiple accounts during the Evaluation process under single login details, and all the accounts can be consolidated under that single login details once funded. This is proof of the company’s liberality and willingness to give traders sufficient flexibility.
Rules In The Apex Challenges
Here are the main rules to successfully pass the Apex Evaluation:
Meet the profit goal
There is a specific profit goal set for each account size, as mentioned earlier, and traders have a minimum of 10 days to meet it. They are allowed to take as much time as they need to achieve the profit goal while also having the opportunity to reset the account as frequently as possible.
The major thing is for the trader to open and close trading positions for at least 10 different trading days to be eligible for funding. In addition, traders should display a certain level of consistency in their trading abilities.
Trade a minimum of 10 trading days
For the evaluation process, traders are expected to utilize a minimum of 10 trading days to successfully enter and exit trading positions to pass the evaluation and become qualified for funding.
Traders also have the option to authenticate if they have met the minimum requirement of 10 trading days, and this can be done in two ways:
- Launch Rtrader
- Click on windows, and after that, the launch bar
- Then choose Apex Order History
- The trader can then see all order history by selecting ‘Export CSV’
Another way is to:
- Launch Rtrader Pro.
- Choose windows
- Choose launch bar
- Choose order history
- Choose the account, especially if the trader has more than one account
- Click on the search (represented by a magnifying glass) to view the report for a particular day
- The trader should note that Sunday will constitute part of the trading day on Monday
- If trades show up on a particular day, then that day is considered one of the 10 trading days.
Don’t hit max loss
A specific trailing threshold (Trailing Drawdown) is assigned to each account, and traders need to have an in-depth understanding of this to utilize it effectively and avoid mistakes that may lead to failing and disabling the evaluation account.
The trailing threshold is the marker for the limit on the acceptable amount of losses that the trader can suffer on a particular chosen account during the evaluation process. Understanding this will enable the trader to trade responsibly and consistently, which will prevent him or her from hitting the max loss while also ensuring completion of the evaluation process.
Do not give someone else access to your account
This will essentially be an impersonation that will be fraudulent, which is why traders are not allowed to share their usernames and passwords with others. This is why traders are advised to have an in-depth understanding of the rules of this evaluation process and not approach it based on the rules of some other companies. These evaluation rules are peculiar to Apex and should be applied accordingly.
Questions and Answers
holding an open position or open pending order beyond 4:59 PM ET
On 29 September 2022, Apex Trader removed the rule that eliminates you when you trade overnight between 4:59 PM and 5:59 PM ET., even if you have an evaluation or a PA account (a performance-funded account).
This great news makes Apex have very few rules compared with other companies on the market.
So you don’t have to be worried if you open a trade or leave an open trade during this time because the Apex Trade system will auto liquidate that position for you.
But the Apex team advises you not to abuse this option but to use it as a backup.
Are there any consistency rules for Apex?
There are no consistency rules as the company is trying to give traders as much leeway as possible to have sufficient wiggle room to adapt, adjust and trade consistently. There is only one way by which traders can fail the evaluation account they are managing, which is:
- Hitting their trailing max drawdown threshold
Generally, the company has liberal consistency rules regarding evaluations, but traders are advised to have a trading plan. To be fair, anyone interested in trading any kind of market without a trading plan is not worthy of being called a trader. A trading plan allows traders to define their strategy, manage their expectations, know how to deal with losses, and build up consistency as a trader. This consistency is what Apex is looking for.
Trading one way and then trading in an opposite direction before deciding to try out a completely new strategy will not allow a trader to develop consistency because such a trader is just being haphazard in their approach to trading with no clear goal or specific direction in mind.
Building up consistency as a trader will play a crucial role in such a trader’s long-term success. Since trading is less of a sprint and more of a marathon, consistency in trading will help the trader have more winning trades and fewer losses.
Traders who tap into their capricious nature by arbitrarily changing position sizes, going all in, or maybe trying to “get lucky” lack the necessary traits that a trader needs to succeed. Such traders will likely fail the evaluation process, thus denying themselves a chance at getting funded. Even if they manage to pass, there will be a limit on the funds they will access.
For traders interested in getting funded for futures trading by Apex Trader Funding, you need to understand that the company is only interested in traders who adopt a trading plan that supports consistent trading and enables them to grow their accounts at a gradual and steady pace.
How does the trailing threshold work at Apex?
The trailing threshold (Trailing Drawdown) is for traders to monitor their progress, especially the profit and loss made, so that they do not end up hitting the trailing threshold because that will lead to failing the account.
The Rtrader is there because it shows the balance and the max loss threshold even as they change relative to each other. It should be noted that the max loss threshold never drops but rises based on the highest account balance. It literally ‘trails the account balance.’
Let us assume a trader decides to go for the $50k account with a trailing threshold of $2500. This will put the trader’s account at a max loss threshold of $47,500, meaning the account balance must not drop below this value. If the trader then goes on to make $500, the account balance becomes $50,500, and since the trailing threshold is $2,500 behind the new balance of $50,500, the max loss threshold becomes $48,000.
If on the next transaction for the same trade, the trader then loses $100, which leaves the balance at $50,400, the max loss threshold does not change because the highest profit for that live trade still stands at $50,500.
If the trader continues to trade and makes up to $600, the new account balance becomes $51,000. Once the trade is closed with a profit of $500 (closing account balance becomes $50,900), the trailing threshold is still $2,500 behind the trader’s highest balance of $51,000 in an open trade which causes the max loss threshold to be bumped up to $48,500.
How can traders reset their Apex accounts?
For a trader to be in a position where his or her account needs a reset, it signifies that the trader has failed the evaluation causing the account to be disabled due to falling below the max loss threshold for that particular account.
The trader can know if an account has been disabled by checking on Rtrader, as it will be impossible to place more trades. It will also display the information that only the administrator can place trades on this account, which is the final confirmation that the trader has failed the evaluation on that account.
To reset the evaluation account, the trader just needs to log in to their account and select the members’ area where all the accounts being managed by the trader will be displayed, look for reset, and click on it next to the account that you intend to reset. This is important if the trader has multiple accounts, so it is advisable to know the account’s accurate details that need a reset.
Note that the balance will be reset and not the 30-day cycle. Once the reset is executed, the minimum 10 trading days get restarted, and the account balance gets refreshed to what it was before, along with the profit goal and a full trailing stop. The reset account also gets a new number assigned to it.
The evaluation account can be reset as often as the trader wants, which means there is no limit, but the reset comes with a caveat as each time, a fee of $80 is charged for the reset. This is why traders should try their best to pass the evaluation in the minimum number of tries possible, so they don’t spend unnecessary money on resets.
What’s next after passing the Apex Evaluation?
Once traders have passed the evaluation and have hit the profit target within the minimum 10 trading days, there is nothing else to do but wait for contact from Apex trader funding.
The company will send an email containing the contract and the payment link within two business days or less after the 10 trading days. Therefore, traders should constantly check their email to act immediately when the mail from Apex trader funding comes in.
Once the trader has acted on the received email by making the requisite payment and signing the necessary documents to get started. The trader will then be notified of the next steps within two business days or even less.
Do traders have to choose between Non-Professional and Professional?
When traders are signing up with Apex trader funding, there are two options: Non-professional and Professional. Generally, most traders are viewed as Non-professional because their data fees are already part of whatever payment is made to sign up for the evaluations.
For the option of the Professional, there is an additional fee of $115 for each month per exchange, along with other fees attached to this option. Therefore, when traders open Rithmic software for the first time, they are advised to choose the Non-professional unless they are professional traders with massive experience.
Do traders have to trade every day during their test period?
No, traders don’t need to trade every day for the duration of the evaluation process, as only a minimum of 10 days with trading transactions is needed. Traders are allowed to take days off and have a break from trading since the company does not make it mandatory for the trading days to be consecutive but instead can be spread out over time.
Traders are free to take ten days, ten weeks, or even ten months to achieve the profit target as there is no minimum timeframe required for qualification or eligibility. However, there is a recurring payment every thirty days that the evaluation is still active, which the trader needs to be aware of.
Also, the trader can reset the account, and there is no limit on the number of times the reset option can be used. The most important thing is for the trader to execute trading transactions for at least ten trading days to be eligible for funding, irrespective of how long the trader takes to meet the eligibility.
What is the Max Position Size on Regular Contracts and Micros?
The Max Position Size
This is determined by the number of contracts for the plan chosen by the trader. The Max Position Size is applicable across all positions and instruments. For instance, let us assume the max of a trader is 12, the trader could be long 8 on ES and short 4 on GC for a total of 12. Going beyond that, however, will cause the order to be rejected.
Micros can be traded for the listed plan up to the max contract size. The table below further illustrates this.
|Micro E-Mini S&P 500 (MES)||MES||CME|
|Micro E-Mini Dow Jones (MYM)||MYM||CME|
|Micro E-Mini Nasdaq-100 (MNQ)||MNQ||CME|
|Micro E-Mini Russell 2000 (M2K)||M2K||CME|
|E-Micro Gold (MGC)||MGC||CME|
|E-Micro AUD/USD (M6A)||M6A||CME|
|E-Micro EUR/USD (M6E)||M6E||CME|
|E-Micro USD/JPY (M6J)||M6J||CME|
|Micro Crude Oil (MCL)||MCL||NYMEX|
Pros And Cons of Apex Funded Futures Trading Program
What are the Advantages of the Apex Funded Trading Program?
- The evaluation process only involves one step compared to similar firms with two or three steps. It also requires 10 days to complete the evaluation, while there is no limit on the time a trader is allowed to pass the evaluation.
- Traders can have multiple accounts under a single login detail, and since trading multiple accounts is now a trending option, traders will be attracted to companies that offer it. Many people like this option to be available because they want to apply different strategies on different accounts. In contrast, others just want to use a strategy they are confident in and duplicate it across multiple accounts to enhance profitability. Apex funder trading is not concerned with the reason and has made multiple accounts available to traders during the evaluation process and once they are funded.
- There are no daily drawdowns which gives the company an edge as other companies tend to have multiple drawdowns that traders have to navigate. In contrast, the only drawdown traders have to deal with under the Apex funding program is the trailing drawdown.
- The funding process is rapid as it takes a maximum period of two business days which is better than that of other companies whose funding process may take weeks. Invariably, the earlier the trader can pass the evaluation, the sooner they can get funded.
- A scaling plan is absent during evaluation or once funding is approved. Scaling means traders cannot have full access to trade all their contracts until specific profit goals are achieved. However, with Apex trader funding, traders can fully access all their contracts for trading during and after they are funded.
- There is a large variety of account sizes that traders can choose from; about eight accounts depend on the trader’s capacity for management and responsible and consistent trading.
- Apex trader funding also has one of the largest profit-sharing ratios available at 90:10, which means 90% of the profit belongs to the traders. In contrast, the first $10,000 in profit entirely belongs to the trader.
- The company allows trade during news releases and holidays, with one of the lowest account fees for a reset at $80.
- Traders also receive a free license to NinjaTrader during the evaluation process and after they pass and get funded; that saves traders more than a thousand dollars.
what are the Disadvantages of the Apex Funded Trading Program
- Withdrawals can only be made once a month
- The trailing drawdown is active during evaluation, so traders must be very aware when executing trades.
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