Apex Trader Funding: Prop Firm Reviews, Analysis & Promos

With Rithmic, you have the opportunity to diversify your trading strategies by accessing a wide range of futures markets, including agricultural products, stock derivatives, and micros.

Rithmic accounts offer great flexibility with starting capital ranging from $25,000 to $300,000, as well as a static account option of $100,000, giving you the freedom to choose based on your experience and goals.

These accounts allow you to trade without the constraints of scaling or daily drawdown, promoting greater confidence and a more daring trading strategy.

By choosing Tradovate, enjoy a free license for this user-friendly platform, compatible with multiple devices, ideal for efficient trading from anywhere.

Tradovate stands out with its group trading capabilities, allowing you to copy trades across multiple accounts simultaneously, a major asset for managing diversified strategies.

Once you've aced your evaluation, hang tight and keep your evaluation account active. Apex will reach out via email within 2 business days with your contract and a payment link. So, keep an eye on your inbox!

Double-check that you've completed 7 days of trading and have achieved your account balance goal. Remember, if you dip below the profit target, the account won't be considered successful.

Expect an email within 2 business days. It'll have a link for your Performance Account (PA) payment, to cancel your evaluation account, and to sign the PA contract.

Trading Mandate:

Engage in trading for at least 7 market days, which don't need to be consecutive.

Achievement Target:

Attain the profit objective without surpassing your evaluation account's maximum drawdown.

Trailing Threshold Drawdown:

A crucial dynamic measure at Apex Trader Funding, evolving with your wins or losses, representing the maximum loss from your highest performance peak. Vital to closely monitor this threshold, as exceeding it could lead to serious consequences, including potential disqualification from your evaluation account.

Learn more about trailing drawdown

Respect for the Code of Conduct is paramount at Apex Trader Funding. It reflects your trading abilities, professionalism, and collaborative skills. Expected behaviors include respecting staff, other traders, and the firm, following procedures, and understanding trading tools and technologies in-depth.

Watch this video on the Code of Conduct

Dynamic Risk Management:

Enjoy enhanced ability to adjust risk management with your earnings growth, fostering progressive and sustainable portfolio development.

Encouragement for Caution:

The dynamic trailing threshold motivates continuous vigilance, leading to thoughtful trading decisions and minimizing potentially significant losses.

First Earnings:

Keep 100% of your first $25,000 in profits.

After $25,000:

Retain 90% of subsequent gains, with Apex receiving the remaining 10%.

Withdrawal Frequency:

Possible twice a month, within specific periods:

• From the 1st to the 5th, payment issued on the 15th.
• From the 15th to 20th, payment on the last day of the month.

Trading Days Requirement:

A minimum of ten trading days between each withdrawal request.

Withdrawal Thresholds:

Minimum account balance required for withdrawal varies based on account size:

• $25,000 account: Minimum balance of $26,600.
• $50,000 account: Minimum balance of $52,600.
• $75,000 account: Minimum balance of $77,850.
• $100,000 account: Minimum balance of $103,100.
• $150,000 account: Minimum balance of $155,100.
• $250,000 account: Minimum balance of $256,600.
• $300,000 account: Minimum balance of $307,600.

• E-mini S&P 500: ES, CME, Tick size: 0.25, Point value: $50
• Nikkei NKD: NKD, CME, Tick size: 5, Point value: $5
• E-mini NASDAQ 100: NQ, CME, Tick size: 0.25, Point value: $20
• Mini-DOW: YM, CBOT, Tick size: 1, Point value: $5
• E-mini Midcap 400: EMD, CME, Tick size: 0.1, Point value: $100
• Russell 2000: RTY, CME, Tick size: 0.1, Point value: $50

• Micro 10 Year Yield Futures: 10Y, CBOT, Tick size: 0.001, Point value: $1,000
• 2-Year Note: ZT, CBOT, Tick size: 0.0039, Point value: $2,000
• 5-Year Note: ZF, CBOT, Tick size: 0.0078, Point value: $1,000
• 10-Year Note: ZN, CBOT, Tick size: 0.015, Point value: $1,000
• 30-Year Bond: ZB, CBOT, Tick size: 0.03, Point value: $1,000
• Ultra-Bond: UB, CBOT, Tick size: 0.03, Point value: $1,000

• Australian Dollar: 6A, CME, Tick size: 0.00005, Point value: $100,000
• British Pound: 6B, CME, Tick size: 0.0001, Point value: $62,500
• Canadian Dollar: 6C, CME, Tick size: 0.00005, Point value: $100,000
• Euro FX: 6E, CME, Tick size: 0.00005, Point value: $125,000
• Japanese Yen: 6J, CME, Tick size: 0.0000005, Point value: $12,500,000
• Swiss Franc: 6S, CME, Tick size: 0.0001, Point value: $125,000
• New Zealand Dollar: 6N, CME, Tick size: 0.00005, Point value: $100,000

• Crude Oil: CL, NYMEX, Tick size: 0.01, Point value: $1,000
• Mini Crude Oil: QM, NYMEX, Tick size: 0.0025, Point value: $500
• Natural Gas: NG, NYMEX, Tick size: 0.001, Point value: $10,000
• Natural Gas E-mini: QG, NYMEX, Tick size: 0.005, Point value: $2,500
• Heating Oil: HO, NYMEX, Tick size: 0.0001, Point value: $42,000
• New York Harbor: RB, NYMEX, Tick size: 0.0001, Point value: $42,000

• E-mini S&P 500: ES, CME, Tick size: 0.25, Point value: $50
• Nikkei NKD: NKD, CME, Tick size: 5, Point value: $5
• E-mini NASDAQ 100: NQ, CME, Tick size: 0.25, Point value: $20
• Mini-DOW: YM, CBOT, Tick size: 1, Point value: $5
• E-mini Midcap 400: EMD, CME, Tick size: 0.1, Point value: $100
• Russell 2000: RTY, CME, Tick size: 0.1, Point value: $50

• Micro 10 Year Yield Futures: 10Y, CBOT, Tick size: 0.001, Point value: $1,000
• 2-Year Note: ZT, CBOT, Tick size: 0.0039, Point value: $2,000
• 5-Year Note: ZF, CBOT, Tick size: 0.0078, Point value: $1,000
• 10-Year Note: ZN, CBOT, Tick size: 0.015, Point value: $1,000
• 30-Year Bond: ZB, CBOT, Tick size: 0.03, Point value: $1,000
• Ultra-Bond: UB, CBOT, Tick size: 0.03, Point value: $1,000

• Australian Dollar: 6A, CME, Tick size: 0.00005, Point value: $100,000
• British Pound: 6B, CME, Tick size: 0.0001, Point value: $62,500
• Canadian Dollar: 6C, CME, Tick size: 0.00005, Point value: $100,000
• Euro FX: 6E, CME, Tick size: 0.00005, Point value: $125,000
• Japanese Yen: 6J, CME, Tick size: 0.0000005, Point value: $12,500,000
• Swiss Franc: 6S, CME, Tick size: 0.0001, Point value: $125,000
• New Zealand Dollar: 6N, CME, Tick size: 0.00005, Point value: $100,000

• Crude Oil: CL, NYMEX, Tick size: 0.01, Point value: $1,000
• Mini Crude Oil: QM, NYMEX, Tick size: 0.0025, Point value: $500
• Natural Gas: NG, NYMEX, Tick size: 0.001, Point value: $10,000
• Natural Gas E-mini: QG, NYMEX, Tick size: 0.005, Point value: $2,500
• Heating Oil: HO, NYMEX, Tick size: 0.0001, Point value: $42,000
• New York Harbor: RB, NYMEX, Tick size: 0.0001, Point value: $42,000

• Corn: ZC, CBOT, Tick size: 0.25, Point value: $50
• Wheat: ZW, CBOT, Tick size: 0.25, Point value: $50
• Soybeans: ZS, CBOT, Tick size: 0.25, Point value: $50
• Soybean Meal: ZM, CBOT, Tick size: 0.1, Point value: $100
• Soybean Oil: ZL, CBOT, Tick size: 0.01, Point value: $600

• NinjaTrader :
  Idéale pour les traders de tous niveaux, recommandée par Apex, NinjaTrader:
  Ideal for traders of all levels, highly recommended by Apex, especially version 8.
• TradingView:
  Perfect for advanced chart analysis and a user-friendly interface.
• Tradovate:
  Offers a seamless and integrated trading experience.
• Rithmic:
  Known for its speed and reliability, it serves as the foundation for data activation and placing trades on other platforms.
• Wealthcharts:
  A convenient web platform for those who prefer trading directly from their browser.
• Trader:
  Suited for traders looking for a simple and efficient interface.
• Jigsaw Trading:
  Specializes in order book analysis for in-depth market insights.
• ATAS:
  Designed for advanced market analysis and algorithmic trading.
• Bookmap:
  Visualizes real-time order flow for dynamic market analysis.
• Edgeclear:
  A robust platform for demanding traders.
• Finamark:
  Combines analysis and trading in a single interface.
• Motivewave:
  Offers advanced technical analysis and trading tools.
• Quantower:
  A versatile solution for multi-asset trading.
• Sierra Chart:
  Known for its stability and advanced features.
• Volfix:
  Specializes in volume and price analysis.surtout la version 8.

Profit and Drawdown Rules:

Goal: Achieve the set profit target.
Drawdowns: Do not exceed the maximum allowed drawdown.
Risk Management: Follow drawdown rules for prudent risk management.

Minimum Trading Days:

Evaluation Period: Trade for a minimum required number of days.
Daily Activity: Maintain regular trading activity during the evaluation period.

Contract Limits:

Contract Control: Adhere to the allowed contract limits for each account size.

Code of Conduct:

Professional Ethics: Adhere to a professional code of conduct at Apex Trader Funding.
Integrity and Collaboration: Demonstrate integrity and collaboration in interactions.

Security and Confidentiality:

Data Protection: Ensure the security and confidentiality of your account.
Personal Use: Use the account personally without sharing access.

Handling Violations:

Compliance with Rules: Strictly adhere to Apex rules to avoid penalties.
Consequences of Violations: Understand the consequences of rule violations, including potential disqualification.

Total Number of Accounts:

You are limited to a total of 20 Active Performance Accounts (PAs) across all individuals in the same household, businesses, and connections, whether with Rithmic or Tradovate.

For example, if you have an LLC with 5 PA accounts, your personal Rithmic account can have 3 PAs, and your personal Tradovate account can have 4 PAs. Your spouse or significant partner can have up to 8 accounts, totaling 20 PA accounts in the same household.

Evaluation Accounts:

There is no limit to the number of evaluation accounts you can have.

You are allowed to trade multiple evaluation accounts simultaneously under a single Rithmic user ID.

These accounts can be of different sizes.

Using a Trade Copier:

Many traders choose to trade multiple evaluation or funded accounts simultaneously and use a trade copier for this purpose. This can help spread the risk across multiple accounts. To copy trades, we recommend the trade copier: Replikanto. Find more information in this article:

Replikanto: Multiply Your Gains with the Trade Copier

Restrictions:

Using more than one email address for the same individual to create multiple Rithmic user IDs can result in termination without payment or refund.

This information comes from Apex Trader Funding sources, and it is recommended to consult their website directly for more detailed and up-to-date information.

Size of APEX Accounts or Available Starting Capital

$25,000 to $300,000 represents the possible starting balance in your simulated trading account. This amount roughly corresponds to the funds you would need in your online brokerage account to cover the initial margin for the maximum position size available in the program. You have the opportunity to turn a small budget (the program's price) into a real trading account with significant leverage.

Contracts: Definition

The maximum position size or the number of futures contracts you can use in your trading account. You are not obligated to trade all the contracts at once; you can trade one at a time. And if market conditions become too volatile and risky, you can also trade micro-futures contracts (e.g., MES and MNQ, which are 1/10th the size of ES and NQ). I have provided the maximum number of micro-futures contracts in each funding program.

Profit Goal

It's straightforward: achieve the profit target specified in each program in a minimum of 7 trading days, all without breaking the rules.

Daily Drawdown (Maximum Daily Loss)

NONE! There is no daily drawdown. Some competitors require you to adhere to a daily or even weekly drawdown. With Apex Trading, you have all the flexibility you need to trade with just one drawdown or Trailing Threshold.

Trailing Threshold

Or the maximum allowable trailing drawdown for each trading account. The drawdown follows your account balance and creates a new loss limit at each new high. Let me explain with an example:

Suppose you take a $50,000 account with a Trailing Threshold of $2,500. Initially, the loss limit not to be exceeded is:

$50,000 - $2,500 = $47,500

As you make profits, the drawdown follows. That means if you increase your account to $51,000, your new loss limit is:

$51,000 - $2,500 = $48,500

Your maximum capital reached in the account is always the reference for determining your allowable loss limit.

Minimum Number of Trading Days

You can qualify with a minimum of 7 trading days. Trading days are defined by trading hours from 6:00 PM one day to 5:00 PM the next day. Half-days on holidays count for the following day.

Tracking Threshold

With the live tracking threshold, you don't have to worry about daily drawdowns. Instead, you can monitor it in real-time using the provided trading software: Rithmic trader.

Trade Any Day, 23 Hours a Day

Transactions can be made on holidays or during news events between 6:59 AM ET and 4:59 AM ET. Transactions must be completed by 4:59 PM ET. All pending orders must also be canceled.

Maximum Position Size

You can speculate up to the maximum position size. You will not be prohibited from trading additional contracts in funded or evaluation accounts.

Trading During Economic Announcements

You won't be disqualified for trading during economic news releases! However, any multidirectional, hedging strategy on two accounts is prohibited.

Single-Step Evaluation

You go directly to a Performance Account (PA) if you reach your profit target before hitting your maximum drawdown, in 7 trading days.

Scaling

Once again, another great advantage of working with APEX is getting a real account with available funds. Many competitors require you to scale your positions, increasing them as you make profits. They try to trap you into rule violations if your balance falls into the wrong tiers. With Apex Trader Funding, you have the freedom to trade the maximum allowed contracts right from the first trade.

NinjaTrader License

One of the most popular and powerful trading platforms is included in the Apex Funding program, and it is functional from the beginning. Renting the NinjaTrader trading platform alone would normally cost $225 per quarter. So, with the funding programs offered, you have the opportunity to have the software included in every package.

Real-Time Data

In the Apex funding program, you have immediate access to all real-time data, including the most popular financial products from CBOT, CME, COMEX, and NYMEX. You can also earn funds by trading the following futures products:

• Index Futures: ES, NQ, YM, EMD, RTY, Nikkei NKD
• Interest Rate Futures: ZB, UB, ZN, ZF, ZT, GE
• Currency Futures: Aussie Dollar, British Pound, Canadian Dollar, Euro FX, Japanese Yen Futures (Inverse of USD/JPY), Swiss Franc, and New Zealand Dollar. (Alternative to Forex currency pairs)
• Agricultural Products: Lean Hogs (HE), Live Cattle (LE), Feeder Cattle (GF), Corn (ZC), Wheat (ZW), Soybeans (ZS), Soybean Meal (ZM), Soybean Oil (ZL)
• Energy Futures: CL, NG, QG (mini natural gas), HO, RB
• Metal Futures: GC, SI, HG, PL, PA, QI, and QO

There are also micro-futures contracts that are 1/10th the size of full contracts:

• Micro Index Futures: MES, MNQ, MYM, M2K
• Micro Metal: MGC
• Micro Currency Futures: M6A, M6E
• Micro Crude Futures

Transaction Commissions

Like any broker, commissions are deducted for each trade. They are subtracted from your evaluation or funded account.

Commissions per Round Trip

• Stock Index Futures: $3.98
• Interest Rate Futures: $3.12 to $4.02
• Currency Futures: $4.72
• AG Futures: $5.58
• Energy Futures: $3.96
• Metals: $4.62
• Micro Futures: $1.02

Another strong point of APEX is that commissions are in line with the lowest rates among online brokers. Some competitors overcharge on commissions, penalizing scalpers.

Reset

If you reach the drawdown and fail the evaluation, you can reset your evaluation account for only $80 and start over. Similarly, you can be aggressive on different accounts and start over for only $80. Although not ideal for a disciplined trader's journey, it's an approach you can test with this program.

The Apex Trader Funding program has been revamped since November 28, 2022. As a result, the following changes apply to both new and existing Apex accounts. I have a great feeling about these updates from this Prop Firm; they already seem more... let me detail them for you. Alright, I won't keep you waiting any longer—let's dive into the specifics:

Updates to Evaluation Rules

December 2022 Update: 7-Day Evaluations

Apex Trader Funding has changed the minimum trading days to 7. Yes, that's great news. To top it off, these rule changes also apply to existing accounts. This means that if you're already in the game, you can achieve your goal in seven days and quickly obtain your Performance Account (PA).

Receive 100% of the First $25,000 Funded

This change is a morale booster. Now, traders receive 100% of the first $25,000. No commissions are deducted by Apex Trader Funding.

Apex Trader Funding will pay out your first $25,000 at 100% for each account funded with them. So, if you have four performance accounts and all reach a $25,000 threshold, Apex pays you $100,000. Apex's policy allows you to have up to 20 PA accounts at a time, I think you can do the math quickly.

Just like the 7-day minimum evaluation, the company also allows existing accounts to enjoy the same benefits. Thankfully, I'd say!

PA Payments in 10 Days

Another significant change. Before this new update, Apex Trader Funding required at least 10 days of trading to request the first payment. After the December update, Apex allows funded traders to request payments after just 10 days of activity. You also only need 10 days between payment requests. This rule change also applies to existing accounts.

2 Payments per Month

Withdrawals can now be made 2 times per month. With the 10-day trading period required between payments, you can request two payments per month. Here's how it works:

1. You meet the conditions to open a PA account.
2. You trade on your PA account for at least 10 days (if you've already made a request, you must wait 10 days between requests).
3. You reach a minimum balance to request a withdrawal.
4. You submit a request.
5. Apex receives the request.
6. Apex reviews the request.
7. Apex approves the request.
8. You receive the payment.

There you go, it's straightforward!

The payment request schedule is as follows:

You make a request between the 1st and the 5th of the month, and the payment is issued on the 15th.
You make a request between the 15th and the 20th of the month, and the payment is issued on the last day of the month.

Updated and Simplified FAQ Section

Apex Trader Funding has reorganized its entire FAQ section. In this new version, the FAQ is easier to navigate and includes a ton of training videos. Additionally, the section is now called the "Knowledge Base" and features a search bar to input topics of interest.