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Apex Trader Funding is a proprietary trading firm, often called a prop firm, that offers traders access to funded accounts after they pass a one-step evaluation. Traders can manage accounts ranging from $25,000 to $300,000 by demonstrating they can reach a specific profit target without violating rules, most notably the trailing threshold drawdown. This model allows skilled traders to leverage significant capital without risking their own money. Understanding the structure of an Apex prop firm evaluation is a critical first step toward a potential funded trading career.
Table of Contents
- What Is Apex Trader Funding?
- How Does the Evaluation Process Work?
- Which Trading Rules Must Be Followed?
- What Are the Account Sizes and Pricing Structures?
- Who Is the Ideal Candidate for an Apex Account?
- How Are Payouts and Profit Splits Handled?
- What Are the Advantages of Using Apex Trader Funding?
- What Are the Potential Drawbacks and Risks?
- Is Apex Trader Funding a Legitimate Opportunity?
- Strategies for Successfully Passing the Apex Evaluation
What Is Apex Trader Funding?
Apex Trader Funding is a company that specializes in identifying and funding skilled futures traders. It is not a brokerage; instead, it provides a platform where traders can prove their proficiency through a paid evaluation. Those who succeed gain access to a funded “Performance Account,” allowing them to trade the company’s capital and keep a significant portion of the profits they generate. This arrangement removes the primary barrier for many talented traders: a lack of substantial personal capital.
The firm focuses exclusively on the futures market, offering access to a wide range of instruments across indices, currencies, commodities, and interest rates. By operating on a one-step evaluation model, Apex simplifies the qualification process compared to other firms that may require multiple stages or months of evaluation. The central proposition is straightforward: if you can trade profitably within a defined set of risk parameters, Apex provides the financial backing to scale your efforts.
How Does the Evaluation Process Work?
The path to a funded account at Apex is built around a single evaluation phase. A trader selects an account size, pays the corresponding monthly fee, and begins trading in a simulated environment. The objective is to reach a predetermined profit target without breaching any of the firm’s rules. For instance, a $50,000 account might require a $3,000 profit target. The trader must trade for a minimum of seven days to qualify, though there is no maximum time limit to reach the target, as long as the monthly subscription is active.
Once the profit target is achieved and all rules have been respected for the minimum trading days, the evaluation is complete. The trader then signs a contract for a funded Performance Account (PA) of the same size. Trading in the PA account involves real capital provided by Apex, and the trader is now eligible for profit withdrawals. The rules in the PA account are largely the same as in the evaluation, ensuring that the risk management discipline that led to success is maintained.
Rithmic vs. Tradovate Accounts
Apex offers traders a choice between two main data and connectivity providers: Rithmic and Tradovate. Rithmic is a well-established data feed known for its stability and is compatible with popular platforms like NinjaTrader and others. Tradovate, on the other hand, offers its own all-in-one platform with a modern interface and is also compatible with TradingView. The choice often comes down to personal preference regarding trading platforms and tools. Rithmic accounts have historically been the standard, while Tradovate accounts were introduced to offer more flexibility and platform options.
Which Trading Rules Must Be Followed?
Success with Apex hinges on strict adherence to its rules. While the profit target is the goal, risk management rules are the boundaries. Violating a rule typically results in the failure of the evaluation or the termination of a funded account. The most critical rule to understand is the trailing threshold drawdown.
Understanding the Trailing Threshold Drawdown
The Trailing Threshold Drawdown is a dynamic minimum account balance that follows the highest point of your account’s equity. It is the single most common reason traders fail evaluations. Here’s how it works: if you have a $50,000 account with a $2,500 drawdown, your liquidation threshold starts at $47,500. If your account balance rises to $51,000, your new threshold “trails” up to $48,500 ($51,000 – $2,500). This trailing action continues until the threshold reaches your initial starting balance ($50,000 in this case). Once it reaches the starting balance, it locks in place for the life of the account.
This “live” trailing aspect during the initial profit-making phase is what catches many traders off guard. An open position that goes into profit intraday will raise your peak equity and thus your drawdown threshold, even if you close the trade for a smaller gain or a loss. Mastering this rule requires not just profitable entries but also careful trade management to protect unrealized gains.
Other Key Rules and Guidelines
Beyond the drawdown, traders must abide by other important rules. There is no daily loss limit, which offers some flexibility. However, traders are prohibited from engaging in certain strategies, such as collusive trading, exploiting platform glitches, or holding positions over major economic news releases in some account types. It is crucial to read the specific rules for your chosen account, as they can differ slightly. Trading is generally permitted during normal market hours, but holding positions overnight or over the weekend is allowed, which is a significant advantage for swing traders.
What Are the Account Sizes and Pricing Structures?
Apex offers a tiered structure of account sizes, each with its own profit goal, contract limit, drawdown, and monthly price. The firm is also known for offering frequent and substantial discounts on evaluation fees, making it one of the more accessible options in the industry. Below is a representative table of their standard plans, though prices can vary with promotions.
| Account Size | Profit Goal | Max Contracts | Trailing Drawdown | Standard Monthly Price |
|---|---|---|---|---|
| $25,000 | $1,500 | 4 | $1,500 | $147 |
| $50,000 | $3,000 | 10 | $2,500 | $167 |
| $75,000 | $4,250 | 12 | $2,750 | $187 |
| $100,000 | $6,000 | 14 | $3,000 | $207 |
| $150,000 | $9,000 | 17 | $5,000 | $297 |
| $250,000 | $15,000 | 27 | $6,500 | $517 |
| $300,000 | $20,000 | 35 | $7,500 | $657 |
Who Is the Ideal Candidate for an Apex Account?
The ideal candidate for Apex Trader Funding is not a novice trader. They are individuals who already possess a consistently profitable trading strategy but lack the capital to make a significant income from it. This trader is disciplined, has a deep understanding of risk management, and is particularly adept at managing the psychological pressure of a trailing drawdown. They are proficient in futures markets and comfortable with the leverage and volatility involved.
Furthermore, a successful Apex trader is a meticulous planner. They treat the evaluation not as a lottery ticket but as a business plan. They know their risk-per-trade, their average win/loss ratio, and how to adapt their strategy to meet the firm’s specific rule set. They are not looking for a “get rich quick” scheme but a legitimate pathway to professional trading.
How Are Payouts and Profit Splits Handled?
Apex has a trader-friendly payout structure. For the first $25,000 in profits earned per account, the trader keeps 100% of the earnings. This is a powerful incentive and a significant competitive advantage. After the initial $25,000, the profit split shifts to 90/10, where the trader keeps 90% of all subsequent profits, and Apex receives 10%. This remains one of the highest payout rates in the industry.
Payout requests can be made twice per month on designated days. To be eligible, a trader must have a sufficient profit buffer above their account’s starting balance plus the drawdown. For example, on a $50,000 account with a $2,500 drawdown, the account balance must be above $52,600 to request a payout. This ensures the account remains healthy and protected from liquidation after a withdrawal.
What Are the Advantages of Using Apex Trader Funding?
There are several compelling reasons why traders choose Apex. The one-step evaluation is a primary draw, as it simplifies and shortens the qualification process. The ability to pass in a minimum of just seven trading days is highly attractive. Additionally, Apex frequently offers significant discounts (often 80-90% off) on evaluation fees, drastically lowering the cost of entry.
Other key advantages include:
- No daily loss limits, providing more flexibility in intraday trade management.
- The ability to hold trades overnight and over weekends, which is rare and benefits swing traders.
- A generous profit split, starting at 100% for the trader and moving to 90/10.
- The option to have multiple funded accounts simultaneously, allowing traders to diversify strategies or scale their income potential.
What Are the Potential Drawbacks and Risks?
Despite its benefits, there are drawbacks to consider. The Trailing Threshold Drawdown is a significant hurdle. Its live, intra-trade calculation can be unforgiving and requires a very specific style of risk management that may not suit all trading strategies. A string of small losses or a winning trade that reverses can quickly erode the drawdown buffer.
The ongoing monthly fee for evaluations can become costly if a trader takes a long time to pass. While promotions reduce the initial cost, the recurring nature of the fee adds pressure. Finally, like any prop firm, the trader is operating under a set of rules that can be changed, and they do not have the same protections or ownership as they would when trading their own brokerage account.
Is Apex Trader Funding a Legitimate Opportunity?
Apex Trader Funding is widely regarded as a legitimate company within the proprietary trading space. It has a massive user base, with thousands of funded traders and a long track record of consistent payouts. The company maintains a strong presence on social media and trading forums, with numerous traders sharing their payment confirmations, which adds to its credibility.
The business model of prop firms, which profits from both evaluation fees and a share of successful traders’ profits, is sometimes met with skepticism. However, Apex’s high payout structure and frequent discounts suggest a focus on finding and retaining profitable traders. As with any financial arrangement, it is vital for individuals to perform their own due diligence and fully understand the terms and conditions before committing.
Strategies for Successfully Passing the Apex Evaluation
Successfully navigating the Apex evaluation requires more than just a profitable strategy; it demands a specific approach tailored to the rules. A primary focus should be on capital preservation. Aim for small, consistent gains rather than “home run” trades. This approach minimizes the risk of significant equity swings that can rapidly chew through your trailing drawdown.
Develop a clear plan before you begin. Define your maximum risk per trade as a small fraction of your total drawdown. For a $2,500 drawdown, risking more than $100-$150 per trade is highly aggressive. Be patient; since there is no maximum time limit, there is no need to rush. Use the minimum seven trading days to get comfortable with the platform and market conditions before taking on significant risk.
This level of discipline is the cornerstone of professional trading. At Cointracts, we facilitate this by enabling traders to create smart contracts that formalize their trading plans and profit-sharing agreements, ensuring all parties remain accountable to predefined rules—a practice that translates directly to success in structured environments like Apex. By treating the evaluation as a professional contract with yourself, you dramatically increase your odds of becoming a funded trader.
