Rithmic Rtrader<\/a> and then log in again to find a fresh account with a new account number but the same initial account balance along with other previous account features. <\/p>\n\n\n\nFor traders with multiple accounts, it is important not to make the mistake of resetting the wrong account.<\/p>\n\n\n\n
Therefore, traders need to verify the account that requires a reset by logging in to Rtrader<\/strong>, followed by checking the account deemed to fail the evaluation and cannot perform any transaction.<\/p>\n\n\n\nAfter verification, the trader can return to the member’s area to select the right account that requires a reset and then click on the reset button beside it.<\/p>\n\n\n
<\/span>Does my time start over when I reset my account?<\/strong><\/span><\/h3>\n\n\nWhen traders reset their accounts, the balance and the minimum trading days start over, but the monthly billing remains constant<\/strong>.<\/p>\n\n\n\nIf the trader opts for the $50K account size and then fails the challenge, once a reset is purchased, the fresh account will have the initial balance of $50K. At the same time, the trader will also have a new set of 7 minimum trading days to achieve the profit target without falling below the maximum drawdown.<\/p>\n\n\n\n
Every challenge account maintained for 30 days has a monthly billing, which stays the same irrespective of the number of resets purchased by the trader. Traders should try to pass the challenge within 30 days to avoid continuous monthly billings.<\/p>\n\n\n
<\/span>Does my renewal date change when I reset it?<\/strong><\/span><\/h3>\n\n\nNo, as we already said, The renewal date does not change because a reset only affects the trader\u2019s initial balance and drawdown by resetting them. Therefore, the renewal date for the account is maintained just as it was, 30 days from the last billing.<\/p>\n\n\n
<\/span>Why is my Apex Trader Funding account reset?<\/strong><\/span><\/h2>\n\n\nSince April 1, 2022, the reset policy has changed slightly. Apex Trader Funding decided that any account that has already blown (failed) will be reset automatically after midnight of the monthly subscription date.<\/p>\n\n\n\n
Let’s take an example to explain that:<\/p>\n\n\n\n
Let’s assume that you subscribed to a new trading challenge at Apex Trader on October 5, and then after making some trades, you failed that challenge, so you can continue trading on that account only if you choose the Reset option to do it.<\/p>\n\n\n\n
For some reason, you didn’t choose the easy (but expensive) method, resetting your account for $80, allowing you to continue trading on your account.<\/p>\n\n\n\n
In that case, when the next subscription renewal day comes on September 5, Apex Trader will reset your account automatically and for free after midnight.<\/p>\n\n\n
<\/span>What are the Features to get the free reset?<\/strong><\/span><\/h3>\n\n\nThis option is simple to understand, but we want to ensure everyone can understand it clearly without a problem.<\/p>\n\n\n\n
To take advantage of that free automated reset, you must meet some conditions:<\/p>\n\n\n\n
\n- Your account must be in a failed status before the renewal date and must keep that status during the renewal.<\/li>\n\n\n\n
- Your account must be charged the renewal fees. Unfortunately, you can’t get the free reset if you don’t pay the renewal fees.<\/li>\n\n\n\n
- The reset will take place automatically at midnight.<\/li>\n\n\n\n
- You can have a free reset only one time after each renewal date.<\/li>\n<\/ul>\n\n\n
<\/span>Do I have to wait until the renewal to reset?<\/strong><\/span><\/h3>\n\n\nNot really. Waiting for the renewal date to get a reset is optional if you want to continue trading immediately. All you have to do is pay the reset fees and refresh your account to start over.<\/p>\n\n\n
<\/span>What was the situation like before?<\/strong><\/span><\/h3>\n\n\nBefore applying this feature, before April 1, 2022, traders must reset their account anytime they fail in their challenge, with no free resets.<\/p>\n\n\n\n
The main problem was when a trader failed his challenge and didn’t want to trade anymore on his account, but he forgot to cancel his subscription for some reason. So what happens here is that he is charged for the monthly subscription renewal and gets an account that can’t be traded because it is already blown!<\/p>\n\n\n\n
Imagine the trader’s frustration and anger at that time, especially since Apex prop firm doesn’t offer a refund.<\/p>\n\n\n
<\/span>How can I benefit from that free reset?<\/strong><\/span><\/h3>\n\n\nBefore we talk about an intelligent way to benefit from that option, remember that this option is made primarily for traders that need to remember to cancel their monthly subscription and get charged without having the attention to continue trading on that specific account. In that case, resetting their account may lower their frustration, as we already explained.<\/p>\n\n\n\n
Now let’s assume that you don’t have enough money to reset your account, and you have a highly negative trading account, and you know that it is hard to pull it back and win the challenge. So you may intentionally blow up your account for a free reset during the renewal date. This way, you will refresh your trading account and start over with a clear mind and a better strategy.<\/p>\n\n\n
<\/span>Questions and Answers about Apex Resets<\/strong><\/span><\/h2>\n\n<\/span>How many times can I reset an Apex Account?<\/strong><\/span><\/h3>\n\n\nThere is no limit to the number of times a trader can use the reset option, as it is at the trader\u2019s discretion. This is one of the good features distinguishing Apex from other funded trading programs, as some do not have a reset option, while those tend to limit the number of times traders can use a reset. However, with the Apex-funded program, using a reset is limitless.<\/p>\n\n\n