You finally pass the challenge at Apex trader, but you don’t know the process of starting the paid performance account, and you don’t know if there are any differences concerning the rules or if you want to understand how payouts work. In this article, we got you covered.

Learn everything you need to know about the processes of being qualified for a funded account, the rules, the payout policy, and much more.

But first, let’s discover briefly how to qualify for a funded account.

How to qualify for a Paid/Funded Account from Apex?

In general, to qualify for a funded trading account from Apex Trader Funding, you need to go through 3 significant steps:

  1. First, choose your account size and pay the challenge fees.
  2. Then, respect challenge rules and achieve goals.
  3. Finally, Follow the email’s instructions to sign the contract and start the PA (Paid Account)

1- Choose your account and Pay the Challenge fees

This is the first step, as interested traders need to register before winning a funded account.

Prices range from $137 to $657 depending on the account size that traders choose, but you can have a 50% discount here:

2- Respect the challenge rules and reach goals

There are rules for the evaluation test that determine if a trader deserves a funded account, and these rules need to be followed for the trader to have a chance of winning a funded account. Below are the rules:

  • The evaluation account has various sizes, each with specific profit targets that traders must achieve.
  • The max loss should not be reached, so traders must fully understand the trailing threshold drawdown. The firm’s website provides adequate information so traders can navigate it appropriately.
  • Apex Trader removed the following rule on 29 September 2022. It is unacceptable to hold an open trading position or open pending order beyond 4:59 PM ET, as all trades must be closed and all pending orders canceled before 4:59 PM ET. Keeping transactions open beyond this specified time will lead to the automatic closure of the exchanges, and the trader will have failed the evaluation. (It should also be noted that trades will have to be closed earlier if the day is a holiday, as markets tend to close early on such days).
  • Sharing your username and password is unacceptable, so you cannot allow somebody else to use your account for trading.
  • The minimum number of trading days to be eligible to pass the evaluation is ten days.

Finally, interested traders should never assume they know the rules based on the rules of some other firms. Instead, understand that the rules of each firm are unique and carefully study the regulations so that you do not break any of them, which will disqualify you from winning a funded account.

3- What to do after passing the Apex Challenge?

After trading for a minimum of 7 days and meeting the profit target, a trader has to take the following steps:

  1. Verify completing the minimum number of trading days and meeting the profit target in Rtrader Pro.
  2. Stop trading.
  3. The trader will receive an email from the firm within two business days, including a link to pay for his/her paid account, cancel his or her evaluation account, and sign the contract for a paid account.
  4. The firm is notified by the system on the morning of the 11th day so that the process of confirmation can begin.
  5. The trader does not have to submit a ticket to the help desk because the process is automatic, and submitting a ticket will not quicken the process.

What are the rules for the Apex Paid Account?

Apex-funded account rules are pretty simple:

  1. First, don’t hit the trailing threshold drawdown.
  2. Trade only allowed instruments.

Once a trader is awarded a paid account, he or she starts with an initial balance and the number of contracts allowed for a particular account size. After that, traders can trade up to the maximum contracts, and micros can also be traded up to the full contract size of the account.

How does the trailing threshold work?

The trailing threshold at Apex is for traders to monitor their accounts, especially the cycle of making profit and loss because hitting the max drawdown will lead to the trader forfeiting the account. The firm uses Rtrader because it lets the trader view the account balance and observe the max loss threshold, even as both changes. This happens because the max loss threshold never falls but always rises relative to the highest account balance.

The trailing threshold drawdown varies based on the size of an account. For instance, on a 50K account, the trailing threshold is -$2500, which puts the minimum account balance at $47,500, a figure the trader must never hit. It should be noted that a daily max drawdown limit is absent.

Once the minimum account balance hits the initial balance plus $100, the max drawdown will stop trailing in a paid account. Therefore on a 50K account, once the minimum account balance is $50,100, the max drawdown will not continue trailing.

The table below shows the trailing threshold drawdown for all the contract sizes and plans available.

PlanContracts
allowed
Max loss
(trailing threshold)
$25K4 Contracts-$1500
$50K10 Contracts-$2500
$75K12 Contracts-$2750
$100K14 Contracts-$3000
$150K17 Contracts-$5000
$250K27 Contracts-$6500
$300K35 Contracts-$7500
$100K Static2 Contracts-$625

What instruments are allowed?

There is a table below that shows the list of instruments that are available for trading. If traders should place orders on an instrument that is not permitted, the trade will be rejected without any kind of penalty. The steps for checking the available instruments are as follows:

  1. Log in to Rtrader software
  2. Locate the Trader Dashboard and right-click on the account name directly.
  3. Then left-click to choose ‘View Risk Parameters.’

This will show a list of currently active products for that account. If an instrument is missing from the list and the trader needs it, he/she can inform customer support.

CBOT, CME, COMEX, NYMEXSymbolExchange
EQUITY FUTURES
E-mini S&P 500ESCME
Nikkei NKDNKDCME
E-mini NASDAQ 100NQCME
Mini-DOWYMCBOT
E-mini Midcap 400EMDCME
Russell 2000RTYCME
INTEREST RATE FUTURES
Micro 10 Year Yield Futures10Y (10YR)CBOT
Ultra-BondUBCBOT
2-Year NoteZTCBOT
5-Year NoteZFCBOT
10-Year NoteZNCBOT
30-Year BondZBCBOT
CURRENCY FUTURES
Australian Dollar6ACME
British Pound6BCME
Canadian Dollar6CCME
Euro FX6ECME
Japanese Yen6JCME
Swiss Franc6SCME
New Zealand Dollar6NCME
AGRICULTURAL FUTURES
Lean HogsHECME
Live CattleLECME
Feeder CattleGFCME
CornZCCBOT
WheatZWCBOT
SoybeansZSCBOT
Soybean MealZMCBOT
Soybean OilZLCBOT
ENERGY FUTURES
Heating OilHONYMEX
Natural GasNGNYMEX
Mini Crude OilQMNYMEX
New York HarborRBNYMEX
E-mini Natural GasQGNYMEX
Crude OilCLNYMEX
METAL FUTURES
CopperHGCOMEX
PalladiumPACOMEX
SilverSICOMEX
PlatinumPLCOMEX
GoldGCCOMEX
MiNY GoldQOCOMEX
MiNY SilverQICOMEX
CRYPTOCURRENCIES
Micro EthereumMETCME
Micro BitcoinMBTCME
MICRO FUTURES
E-micro GoldMGCCME
Micro E-mini Russell 2000M2KCME
Micro Crude OilMCLNYMEX
Micro E-Mini S&P 500MESCME
Micro E-Mini Nasdaq-100MNQCME
E-Micro USD/JPYM6JCME
E-Micro AUD/USDM6ACME
E-Micro EUR/USDM6ECME
Micro E-Mini Dow JonesMYMCME

When should I stop trading at Apex Paid Accounts?

On 29 September 2022, the company 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).

As a result, Apex now has the fewest rules to follow among other companies in 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 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.

More Details about the Paid/Funded Account

Are there monthly fees?

Monthly fees must be paid on a funded account, and it is $85, which covers data, platform, and wire withdrawal charges. For traders with multiple funded accounts, each account will be billed separately, which should be noted.

Are there consistency rules for Apex Paid Accounts?

No. Generally, the company has generous consistency rules, and the only way to fail the evaluation test is if the trader hits the trailing max drawdown threshold. However, it is recommended that traders have a trading plan because it will allow them to be strategic in their trading.

The major thing about the consistency rules is for traders to be methodical rather than haphazard and erratic. This will allow traders to develop consistency in trading, contributing immensely to long-term success. Therefore, traders that change sizes arbitrarily, go all in, or maybe try to “get lucky” are not the type the company wants to fund and support. Traders looking to get funded must be ready to trade consistently with systematic strategies that will enable them to grow their accounts steadily.

What is the Max position size for the Paid Accounts?

There is no contract scaling plans. The max position size is restricted to the number of contracts assigned to the plan the trader selects. This applies to all available positions and instruments. For instance, if a trader chooses a plan with a max position size of 12, the trader may decide to go long 8 on SI and short 4 on NQ for a total of 12. If the trader goes beyond it, the order will be rejected. 

Can you have more than one paid account at Apex?

Yes, traders can have more than one paid account, but the multiple accounts must be operated under one Rithmic user ID unique to a trader. When traders login to NinjaTrader, those with multiple accounts can choose one of such accounts to trade. Therefore, a trader cannot use more than one member login to create multiple Rithmic User IDs, leading to a full termination without refunds or payouts.

How do Payouts work?

Payments are scheduled for the 15th and the last business day of each month. For U.S. traders, Apex Trader Funding employs ACH for withdrawals, while for those outside the U.S., Wise is utilized. Previously, the Deel platform (formerly known as Letsdeel) was the primary method, which offered a myriad of withdrawal options including Wire transfer, ACH transfer, PayPal, Coinbase, Payoneer, Revolut, and several others. However, with the recent transition, payouts have become more streamlined.

Apex Trader Funding Adapts Payment Methods: Transitioning from Deel to ACH and Wise

In September 2023, Apex Trader Funding unveiled alterations to their payment processing approach with Deel, aiming to address circulating rumors and soothe their clientele’s apprehensions. Previously, from September 16, 2022, Deel became an exclusive payment solution for Apex, presenting an extensive payroll and compliance facility that adeptly catered to international contractors and businesses. It was predominantly favored for its adaptability in offering an array of payout methods, encompassing traditional wire transfers to more contemporary digital avenues like Coinbase and Revolut. However, an alteration in Deel’s terms of serviceā€”stemming from internal policies rather than regulationsā€”prompted Apex Trader Funding to reconsider their affiliation. While CEO Darrell Martin Jr. was quick to reassure users about the absence of any payment holds by Deel, he also heralded the integration of a new payment mechanism. Now, Apex is facilitating payments through ACH for their U.S. clientele and employing Wise for those outside the U.S. The shift away from Deel, once viewed as a groundbreaking step in payment simplification for traders, underscores the evolving landscape of fintech alliances and the perpetual need for businesses to remain nimble and responsive.

What is the profit split for the PA?

The first $25,000 profit a trader makes fully belongs to him, but subsequent profits will see the trader having access to 90% while the remaining 10% goes to the company.

What are the withdrawal policies?

When can I ask for withdrawals?

  • Traders can request withdrawals between the 5th and 10th to reserve payments on the 15th or between the 20th and 25th of the month to receive the payment at the end of the month.
  • To receive payouts, traders must have 10 trading days before a request can be made for withdrawal. Traders can check Rithmic to find out the number of trading days that have been accumulated. If traders discover they have not met the minimum trading days, they must wait until the following month to request a payout.

What is the payout structure?

From the first payout to the third payout, the minimum payout is $1,000, and a minimum balance threshold must be in the account once the payout is completed. The first to third payouts also have a maximum amount to be withdrawn. On the fourth and subsequent payout, there is no maximum limit on the amount traders can withdraw as long as the account contains the minimum balance threshold after the payout. 

The table below provides further details of the Apex payout structure on a $50K account:

Payment requestRequired daysMinimum balance required for a withdrawalMinimum payoutMaximum payout
FirstAfter 10 trading days$52,500$1,000$2,000
Second and Thirdafter another 10 trading days in-between$52,500$1,000$2,000
Fourth and beyondafter every 10 trading days in-between$52,500$1,000No maximum

Do we fill out a Tax form for withdrawals?

Yes, and it is quite simple. Traders are paid as individual contractors, and as a result, U.S. citizens are expected to submit a W-9 form to the help desk along with their latest respective mailing addresses. The address submitted must be maintained or regularly updated with the company to receive a 1099-NEC for payments made through wire transfer. On the other hand, non-US citizens have to submit a W-8BEN form to receive their first payouts. It should be noted that Apex trader funding reserves the right to make payments to the trader under any conditions and at any time.