My Apex Trader Funding review will examine what to know before signing up to Apex Trader Funding. Apex Trader Funding is recognized for providing traders globally with a chance to enhance their wealth and financial security through their One-Step Evaluation Process.
This process is particularly appealing to day traders, as it allows them to demonstrate their trading skills over a set number of days to meet a profit goal and secure funding for their trading activities. I will cover everything you need to know so you can determine if Apex Trader Funding is the best futures prop trading firm for your situation.
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What To Know Before Signing Up To Apex Trader Funding
Before deciding to sign up for Apex Trader Funding you need to know the details about pricing, benefits, rules and potential drawbacks, but first let’s be clear about what exactly Apex Trader Funding is.
What is Apex Trader Funding?
Since its inception in 2021 by Darrell Martin, Apex Trader Funding, based in Austin, Texas, has rapidly become a leading name in Funded Futures Traders firms. It stands out for its substantial growth, having funded more accounts than all its competitors combined.
Apex Trader Funding’s success is bolstered by its positive reputation among over 4,000 day traders globally, as reflected in its Trustpilot 4.8 out of 5 rating. Known for timely payouts and strong customer support, the firm sets itself apart by offering fewer restrictions than its competitors and allowing traders to manage multiple accounts simultaneously through its trading copier tool.
Benefits of Apex Trader Funding
Here are the benefits I think will compel potential customers to sign up to Apex Trader Funding:
- Fast Evaluation: The platform offers a quick evaluation period of only 7 days.
- Multiple Account Management: Traders can manage up to 20 accounts simultaneously.
- Profit Split: Apex offers a generous profit split, giving traders 100% of the first $25k earnings and a 90/10 split thereafter.
- Simple Rules and Strategy Flexibility: The firm’s straightforward rules and acceptance of diverse trading strategies, including news trading, make it accessible.
- Advanced Trading Platforms: Provides platforms like Rithmic and Tradovate, with additional tools for enhanced trading.
- Trade Copier Software: This tool allows for automated trading, beneficial for those using automated systems.
- Security Measures: Apex ensures data security with encryption and secure servers.
- Accessible Pricing and Investment: Offers a range of monthly account options and clear commission structures.
- User-Friendly Experience: Focuses on intuitive trading, real-time data, and supporting traders’ growth and learning.
Drawbacks of Apex Trader Funding
We have to look at the pros as well as the cons before being able to decide on whether to subscribe to any service, especially something as important as financial services. Here are some potential drawbacks that might lead some to choose not to sign up to Apex Trader Funding:
- No Overnight Positions: Traders are required to close all positions by the end of the day, restricting strategies that involve holding trades overnight.
- No Free Trials: The platform does not offer free trial periods for potential traders to test their services.
- Focus on Day Trading: The firm primarily supports day trading, which may not align with the strategies of all traders.
- Geographical Restrictions: Certain countries, including Russia, South Africa, and Ukraine, are excluded from accessing Apex Trader Funding’s services.
Apex Trader Funding Trading And Evaluation Rules
Like all of the prop trading companies, Apex Trader Funding has rules that if violated, can lead to an account being suspended. It is important to understand these rules before deciding to sign up. Here is my best effort to summarize the most important rules:
Evaluation Account Rules:
- Achieve the specified profit goal without exceeding the maximum drawdown.
- Trade for a minimum of 7 days, which don’t need to be consecutive.
- Adhere to the Code of Conduct, maintaining professionalism.
- Manage the account personally without sharing login details.
- Use Rtrader/Tradovate for monitoring drawdown and as a backup for closing trades.
General Guidelines:
- No holding positions overnight. All trades must be closed by 4:59 PM ET.
- Trading is permitted on holidays, but half-day holidays don’t count as a trading day.
- The firm doesn’t have consistency rules for evaluations, but they do for PA and Prop accounts.
- Traders should have a disciplined and consistent trading system with specific rules for entries, stops, and profits.
- Consistency in your trading system, size, days traded, and risk management is important.
- The firm discourages erratic trading, windfall trades, and strategies that excessively risk the company’s funds.
- Automated trading, news trading, and high-frequency trading are not permitted.
- Accounts must be traded by the individual listed, without the use of fully automated systems.
- Traders must ensure all orders are closed by the end of the trading day, taking responsibility for contract expiry and rollover dates.
Apex Trader Funding Pricing
Apex Trader Funding’s pricing structure is based on the account size chosen by traders, with options ranging from $25,000 to $300,000. Here is my breakdown of the costs at the time of writing this:
- 100K STATIC: $137
- $25K: $147
- $50K: $167
- $75K: $187
- $100K: $207
- $150K: $297
- $250K: $517
- $300K: $657
Make sure to check out my Apex Trader Funding coupon for various discounts.
Final Thoughts
When considering Apex Trader Funding, it’s vital to understand what to know before signing up. The rapid evaluation period, flexible trading strategies, and competitive profit splits are significant advantages.
However, be mindful of limitations like the prohibition of overnight positions and the necessity of a subscription fee without a free trial. Regarding concerns like “Is Apex Trader Funding a scam?“The firm’s increasing popularity and positive reviews across the trading community prove it is a legitimate platform.
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