Dossier · Independent review
Apex Trader Funding: the dossier
Apex Trader Funding is a high-volume futures evaluation firm with one-time evaluation fees, fast passes, and 100% of requested rewards in simulated funded accounts.
Short verdict
Apex Trader Funding stands out for strong value and flexibility for active futures traders, balanced against simulated-funding mechanics and a strict trailing drawdown; watch out for performance Accounts are explicitly simulated; payouts are discretionary, and 6 payouts close the PA.
The Prop Examiner verdict-in-brief
Strong value and flexibility for active futures traders, balanced against simulated-funding mechanics and a strict trailing drawdown.
100%
Profit split (up to)
$100
Entry price (from)
$150K
Max funding (headline)
Scorecard
Five dimensions, scored 0–5
4.2
avg
- Pricing & value
- 5.0/5
- Profit split
- 4.0/5
- Payout speed
- 4.0/5
- Rules flexibility
- 4.0/5
- Transparency
- 4.0/5
Advertised vs verified
At a glance
Advertised claims vs what we could verify. “Up to” figures are maximums; rows flagged verify before launch are unconfirmed.
- Founded
- 2021verified
- Headquarters
- Austin, Texas, USAverified
Every figure traces to the cited & dated sources below.
What actually binds you
Key trading rules
Where challenges are won or lost — sourced from Apex Trader Funding’s own pages. Rules vary by product; the per-plan breakdown follows.
| Phase / model | Rule | Published value |
|---|---|---|
| Intraday eval | Profit target | 25K $1,500; 50K $3,000; 100K $6,000; 150K $9,000 |
| Intraday eval | Trailing drawdown | Follows Peak Balance (incl. unrealized); 25K $1,000 → 150K $4,000 |
| Intraday eval | Daily loss limit | None in eval (optional DLL; EOD Trail option offered) |
| Intraday eval | Contract limits | 25K 4 (40 micro); 50K 6; 100K 8; 150K 12 |
| Eval | Minimum trading days | None — may pass in a single day (30-day access) |
| Funded (PA) | Consistency | 50% consistency rule applies (none in eval) |
| All | Prohibited styles | No hedging/offsetting across accounts; rule-circumvention closes the account |
Rules verified from Apex's product selector and Intraday Trailing Drawdown help articles on the access date. Legacy account sizes are no longer sold to new customers. Performance Accounts are simulated and payouts are discretionary per the firm's risk disclosure.
EAs, algos, bots & copy trading
Automation & AI policy
RESTRICTIVE — automation, algorithms, bots and HFT are all banned; only manual, human-executed directional trading (with Apex's own-account trade copier) is permitted.
| Policy area | What the firm states |
|---|---|
| Expert Advisors (EAs) | Banned — "No Automation or Algorithm Usage allowed: Rewards are intended to recognize human traders actively participating in the learning process, not to reward automated systems executing preprogrammed logic." |
| Algorithmic trading | Banned — algorithm usage is explicitly prohibited under the same "No Automation or Algorithm Usage allowed" rule. |
| Copy trading | Limited — Apex's own multi-account Trade Copier (copying your own signal into your own accounts) is supported; but "trade copying with other traders is strictly forbidden" and "sharing MAC addresses, computers, IPs, credit cards, or trade copying with other traders... will result in account closure, forfeiture of funds." |
| HFT / tick scalping | Banned — "manipulation or exploitation of the simulation environment in any way, including High Frequency Trading (HFT) or any other exploitative strategies"; includes manipulating the system for erroneous fills. |
| Trading bots / AI | Banned — no automation/algorithms; "automated systems executing preprogrammed logic" are not eligible for rewards (see user agreement for details). |
| News trading | Restricted — "Trading during news is allowed for your normal trading strategy." Using news strategies that "chase the market" or "place orders on both sides... to be lucky or gamble the outcome of news is not allowed." |
| Automation platforms | Rithmic, NinjaTrader, Tradovate, WealthCharts (selected at checkout). Note: although platforms technically support automation, Apex prohibits automated/algo execution on all account types. No hedging (directional trading only). |
Verbatim policy from Apex Trader Funding. Items flagged verifyare unconfirmed — check the firm’s terms for your product. Educational information, not trading advice.
Looking to compare automation rules across firms? See our best prop firms for AI, algo & EA trading ranking.
What you trade on & what binds the funded account
Platforms & funded-account rules
What binds a funded account: platforms, post-funding consistency, scaling, refunds, time and position limits, weekend / news rules. Each value links its ↗ source; = explainer; verify = unconfirmed.
Trading platforms provided
Payouts & timing
Payout frequency
On-request with a minimum 5 trading days between payouts; only profit above the Safety Net (drawdown limit + $100) is withdrawable. Max 6 payouts per Performance Account, then the PA closes (caps lift after the 6th).
First payout
First payout requires 8 trading days including ≥5 days of $50+ net profit; only profit above the Safety Net is withdrawable. "No Payout Denials" claimed. verify
Payout methods
Withdrawal methods not confirmable (official Apex pages return HTTP 403 to fetch). verify
Payout speed
Processing time not published on accessible sources. verify
Profit-split scaling
Performance Account pays 100% of the first $25,000 per account, then 90/10 thereafter. Payouts: $500 min; 5 trading days between; first payout requires 8 trading days incl. ≥5 days of $50+ profit; max 6 payouts per PA (then PA closes), after the 6th the caps lift.
Payout / profit cap
Per-request payout caps for the first 6 payouts — e.g. $25K $1,500 / $50K $2,000 / $100K $2,500 / $150K $2,750 / $250K(legacy) $3,000 per withdrawal; after the 6th payout caps are removed (full available profit withdrawable).
Refundable fee
One-time eval fee (not refundable as standard); separate one-time PA activation fee on passing (e.g. ~$139 on $100K). verify
Funded consistency rule
50% consistency on the Performance Account (current/post-Mar 2026 products) — no single trading day may be 50%+ of total accumulated profit at the time of a payout request (measured since last approved payout, or account inception). Below threshold = payout option hidden but account stays active. None during the evaluation. 30% is legacy.
Funded-account rules & cost
Cost
Cheapest entry = $25K eval, $199 one-time list (frequently ~80–90% off via promo, e.g. ~$19.90 under SAVENOW). One-time evaluation fee (no monthly subscription on current products) + a one-time PA activation fee on passing (e.g. $399 eval + $139 activation on $100K EOD). Range ~$199 ($25K) up through the $150K tier.
Payment methods (to buy)
Credit/debit card incl. American Express (card must be in your name); e-wallets (PayPal/Skrill/Neteller) and crypto (BTC/ETH/LTC) available depending on region. (Official Apex billing page returns HTTP 403 to fetch.) verify
Time limit
Evaluation has no minimum trading days and ~30-day access window; can pass in one day. PA has no fixed time limit (subject to the inactivity/activity rules).
Inactivity rule
~15 consecutive days inactive → dormant status; ~30 consecutive calendar days without meeting the activity threshold → account closed. PA also requires ≥2 trading days of $50+ net profit within each rolling 30-day period. verify
Max position / lot limit
Per size (Intraday Trail) — $25K: 4 minis/40 micros; $50K: 6/60; $100K: 8/80; $150K: 12/120. Fixed during eval; built-in scaling/contract ramp on the PA.
8 plans · per-plan detail
Rules by account plan
Every plan’s model, rules and size/price matrix. = explainer · ↗ source = firm’s page · verify = unconfirmed. Compare against other firms →
$25K — Intraday Trail
Futures evaluation with up to 100% profit split — suited to futures traders who prefer contract-based sizing on a dedicated platform. Note it's geared to manual trading — bots and automation are heavily restricted.
Sizes & price
| Account size | Entry price |
|---|---|
| $25K | $199 one-time list (shown ~$19.90 with current SAVENOW coupon at access) |
Contract limits: 4 minis / 40 micros (fixed during eval; built-in scaling in PA). One-time evaluation fee (no monthly subscription / no auto-renewal). SIM funded Performance Account. Promo: "Any Size Evals, up to 90% OFF" code SAVENOW. Profit split correction (100% first $25k then 90/10) is high-confidence from corroborating 2026 sources; official page returned 403 this pass.
Rules sourced from official pages — $25K — Intraday Trail rules hub. Promo terms change; confirm at checkout.
Rule glossaryEvery term on this page, in plain English
- Profit target
- The percentage gain a trader must achieve on a challenge or evaluation account to advance to the next phase or become funded. It is usually measured against the starting balance and must be met without breaching any loss limit.
- Max daily loss
- A cap on how much an account may fall within one trading day, measured from either the day's starting balance or starting equity. Breaching it typically fails the account, even if the overall loss limit is untouched.
- Max overall loss
- Also called maximum total loss or overall drawdown — the furthest an account may fall from its baseline before it is failed. Whether the baseline is fixed or moves with profits depends on the drawdown type.
- Static drawdown
- A maximum-loss level calculated once from the starting balance and held fixed for the life of the account. Profits do not raise it, so the buffer below your equity grows as you gain.
- Trailing drawdown
- A maximum-loss level that follows the account upward as it reaches new equity or balance highs, locking in some gains. Once it ratchets up it usually does not fall back, so giving back profits can still breach it.
- End-of-day (EOD) drawdown
- A trailing drawdown that recalculates from the highest end-of-day balance rather than intraday peaks. Open-trade spikes during the day do not move the limit — only the closing figure does.
- Minimum trading days
- A requirement to place trades on a set number of distinct days before an account can pass a phase or request a payout. It discourages passing on a single lucky trade.
- Consistency rule
- A limit on how concentrated profits may be — for example, no single day may account for more than a set percentage of total profit. It is meant to reward steady performance over one-off windfalls; breaching it can delay a payout or block a pass.
- Profit split
- The percentage of profits a funded trader keeps, with the rest retained by the firm (e.g. an 80% split means the trader keeps 80%). Advertised "up to" splits are usually ceilings reached only at higher tiers or after scaling.
- Scaling plan
- A structured path that increases a funded trader's account size (and sometimes profit split) after meeting performance and consistency conditions. Terms and timelines vary widely between firms.
- Leverage
- The ratio between position size and the capital backing it (e.g. 1:100 means $1 controls $100 of exposure). Higher leverage amplifies both gains and losses against your drawdown limits.
- Evaluation / challenge
- A simulated trading test — sometimes called a challenge — where a trader must hit a profit target without breaking the rules to earn a funded (or simulated-funded) account. It usually carries a one-time fee.
- Instant funding
- A product that skips the evaluation and grants a funded account immediately, typically for a higher upfront fee and often with stricter rules, lower initial splits, or tighter drawdown than evaluation paths.
- 1-step
- An evaluation that funds a trader after one phase, requiring a single profit target to be hit within the loss limits. Fewer phases can mean a tighter target or drawdown.
- 2-step
- An evaluation split into two phases, each with its own profit target, before funding. The two-phase structure is the most common model across the industry.
- 3-step
- An evaluation with three sequential phases before funding, usually with lower per-phase targets spread across the stages. More phases can mean a longer path but gentler individual targets.
- Payout / withdrawal cycle
- The schedule and conditions for withdrawing funded profits — for example, on-demand, bi-weekly, or monthly, sometimes after a minimum profit or a set number of trading days. Early-payout terms and minimums vary by firm.
- Prohibited strategies
- Approaches a firm bans in its rules — breaching them can void profits or fail an account. Commonly restricted styles include martingale, grid, certain hedging or arbitrage, high-frequency or tick scalping, news trading, copy trading, and all-in gambling-style bets.
- Martingale
- A strategy that raises trade size after each loss in an attempt to recover prior losses with one win. Firms often prohibit it because it concentrates risk and can blow through drawdown limits quickly.
- Grid trading
- A system that places a ladder of buy and sell orders at fixed intervals regardless of direction. It is frequently restricted because it can build large, correlated exposure that strains risk limits.
- Hedging
- Opening opposing positions in the same or correlated instruments to offset risk. Some firms allow internal hedging but prohibit hedging across accounts or between traders to game evaluations.
- Arbitrage
- Profiting from price discrepancies between brokers, feeds, or instruments, including latency arbitrage. It is commonly banned because it can exploit a firm's simulated pricing rather than reflect genuine market skill.
- HFT / tick scalping
- High-frequency trading and tick scalping involve large numbers of trades held for seconds or less, often automated. Firms frequently restrict them, sometimes via minimum hold-time rules, because they can exploit feed latency.
- News trading
- Opening or holding positions through scheduled high-impact news events to capture volatility. Some firms restrict trading within a window around major releases on evaluation or funded accounts.
- Copy trading
- Automatically replicating one account's trades onto others, or copying signals from a third party. Firms often limit it to a trader's own accounts and prohibit copying between unrelated traders.
- Expert Advisors (EAs)
- Algorithms or robots — often MetaTrader Expert Advisors — that place trades automatically. Policies range from fully allowed to banned; many firms permit personal EAs but forbid shared or exploit-oriented bots.
- Gambling / all-in
- Staking an outsized share of the account on a single trade in hope of a fast pass. Firms restrict it because it relies on luck rather than risk management and undermines consistency rules.
Educational definitions only — not trading advice, and no outcome is guaranteed. The exact meaning of any rule depends on the firm’s own terms for your specific product; always verify there before relying on it.
Want the full reference? See the prop-firm rule glossary.
The field, in bars
How the profit split compares
Headline (“up to”) maximum vs the field — ceilings gated behind tiers or scaling, not what every trader gets.
Profit split — headline maximum (%)
Higher is betterBalanced view
Pros, cons & open risks
Strengths
- One-time evaluation fee (no recurring billing on new products) with frequent deep discount codes.
- 100% of requested rewards retained in simulated funded accounts, with a 5-trading-day cadence.
- No minimum trading days and no consistency rule in the evaluation — can pass quickly.
- Up to 20 accounts allowed and multiple platform/data vendors to choose from.
Cons & open risks
- Performance Accounts are explicitly simulated; payouts are discretionary, and 6 payouts close the PA.
- The Intraday Trailing Drawdown follows peak balance including unrealized gains — punishing if you give back open profit.
- A 50% consistency rule applies to funded accounts even though the eval has none.
- Site states services are intended for US users only — international eligibility must be checked.
Do this first
What to verify before buying
Confirm each of these for your exact product:
- 01Whether you want Intraday Trail or EOD Trail and how each drawdown behaves with your style.
- 02The live coupon and the true one-time cost (and any PA activation fee) at checkout.
- 03The full payout rules: $500 minimum, 5-day spacing, 6-payout cap, and the funded 50% consistency rule.
- 04That your country is supported and which platform/vendor you'll use.
- 05The prohibited-activities and anti-hedging rules before trading multiple accounts.
The Prop Examiner
Our verdict
Apex is a high-volume futures evaluation firm with trader-friendly mechanics — one-time fees, fast passes, and 100% requested rewards in sim funded accounts — frequently paired with steep discount codes. The trade-offs are a simulated funded environment with discretionary payouts, a peak-balance trailing drawdown, and a 6-payout-per-account cap. The Prop Examiner has no affiliate relationship with Apex at this time.
Reference link
Go to Apex Trader Funding
Common questions
Apex Trader Funding FAQ
- What is Apex Trader Funding's profit split?
- 100% of requested rewards to the trader in Simulated Funded / Performance Accounts. Confirm the split for the exact product you buy, as it can vary by model and tier.
- How fast does Apex Trader Funding pay out?
- 5 trading days between payouts; $500 minimum; max 6 payouts per PA then it closes. Payout speed and eligibility depend on the product and on meeting the firm's rules; no payout is guaranteed.
- What account sizes does Apex Trader Funding offer?
- New products (post Mar 2026): 25K, 50K, 100K, 150K (Intraday Trail or EOD Trail). Headline maximums are ceilings reached via scaling, not the size you start with.
- Does Apex Trader Funding have a discount code?
- The Prop Examiner has no affiliate relationship with Apex Trader Funding at this time. Check Apex Trader Funding's own site for any current promotions and confirm the total at checkout.
- Is Apex Trader Funding worth it?
- Strong value and flexibility for active futures traders, balanced against simulated-funding mechanics and a strict trailing drawdown. Read the rules for your exact product, treat headline numbers as ceilings, and start with the smallest suitable plan — prop challenges are simulated/educational products and most buyers do not reach a payout.
Cited & dated
Sources
Every figure traces to a Apex Trader Funding source below, accessed on the date shown. Re-verify before relying on any number — pricing and promos change.
- 1.Apex — homepage / product selector & instruments· accessed 2026-06-17
- 2.Apex — Intraday Trailing Drawdown Evaluations (Help Center)· accessed 2026-06-17
- 3.Apex — Intraday Trailing Drawdown Payouts (Help Center)· accessed 2026-06-17
- 4.Apex — Payouts page· accessed 2026-06-17
Platforms & funded-rule references
- Apex Trader Funding — trading platforms
- Apex Trader Funding — payout / profit cap
- Apex Trader Funding — refundable fee
- Apex Trader Funding — funded consistency rule
- Apex Trader Funding — cost
- Apex Trader Funding — payment methods (to buy)
- Apex Trader Funding — max position / lot limit
- Apex Trader Funding — inactivity rule
- Apex Trader Funding — weekend / overnight holding
- Apex Trader Funding — news trading
Sponsored · firm-neutral
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