Apex Trader Funding Review 2024
Website: www.apextraderfunding.com
Min. Deposit: US$ 147
Leverage: —
Trading Platforms: Rithmic, NinjaTrader, Tradovate
Regulation: USA
Headquarters: Texas, USA
Founded: 2021
Regulatory Licenses:
- Apex Trader Funding Inc. — registered in USA company number 0804167818
Updated on February 22, 2024
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In crafting this comprehensive review of Apex Trader Funding, our expert team employed a rigorous and multifaceted approach to evaluate the broker. The process involved a thorough analysis of Apex Trader Funding's offerings, comparing them against a wide array of criteria and standards that we have established through the examination of over 1000 brokers. This deep dive included an assessment of fees, account types, trading platforms, customer service, regulatory status, and trading conditions, among other factors. Our goal is to provide traders with an unbiased and detailed insight into the advantages and disadvantages of trading with Apex Trader Funding, enabling them to make an informed decision.
What is Apex Trader Funding? ▲
Apex Trader Funding is at the forefront of the futures funding evaluation industry, providing traders with programs that offer both simulated and real trading account opportunities. These programs come with a set balance and require adherence to specific rules and objectives, such as profit targets and maximum drawdown limits. Successful completion of these criteria allows traders the chance to manage larger funded accounts and retain a portion of the profits generated. As a proprietary trading firm, Apex Trader Funding offers a unique opportunity for traders to engage in professional trading with minimal personal investment by passing a specific challenge to access funded accounts. However, it's essential to recognize the significant risks involved in this venture.
Apex Trader Funding Pros Cons ▲
Pros
Lower profit target requirements compared to many competitors, making it more accessible for traders to achieve funding.
Competitive pricing structure with low registration fees across a wide variety of account sizes.
Exclusive use of the NinjaTrader platform, which is highly regarded for futures trading.
The ability to maintain up to 20 accounts simultaneously, offering flexibility and multiple opportunities for traders.
Offers a good range of account sizes, catering to different levels of trading experience and capital.
Cons
The absence of a strict overseeing body may lead to a lack of structured guidance for traders.
The challenge of becoming a funded trader can be daunting due to stringent rules and objectives.
No 2step evaluation process, which could otherwise provide an additional layer of preparation and screening for traders.
The lack of availability of the MetaTrader platform, which is a widely used and preferred trading platform by many traders.
Restricted to only futures trading, limiting the diversification options for traders interested in exploring other markets.
Is Apex Trader Funding Legit? ▲
Apex Trader Funding, rooted in the United States, is renowned for its commitment to providing an unparalleled trading platform experience. This commitment is supported by a robust customer support framework and an expansive suite of educational resources, attracting a diverse and growing customer base. It's critical to acknowledge that, in contrast to Forex Brokers, which are required to operate under specific licenses, Proprietary Trading firms like Apex Trader Funding are not subject to the same rigorous regulatory oversight. This results in a trading environment with less regulatory scrutiny, emphasizing the importance of understanding the inherent risks associated with engaging in Prop Trading activities.
Is Apex Trader Funding Scam? ▲
Upon examining the publicly available information on Apex Trader Funding’s website, there is no overt indication that the firm engages in fraudulent activities. Nonetheless, the inherently lower level of regulation governing Proprietary Trading Firms necessitates a cautious approach. Potential traders are advised to extensively research Prop Trading to grasp the associated risks fully. Choosing a firm with a longstanding reputation for stability and reliability, preferably one with several years of operational history, is recommended. While the risk of financial loss is generally diminished in Prop Trading due to the absence of significant personal investment, understanding the operational model and potential vulnerabilities is crucial.
Our analysis of Apex Trader Funding zeroes in on the specifics of their evaluation challenge, including the criteria participants must meet to secure a Funded Trading Account. Understanding the registration costs associated with the challenge is vital for prospective traders. Apex Trader Funding’s streamlined evaluation process is purposefully designed to gauge trading proficiency across various account sizes effectively. This single-phase evaluation aims to expedite the pathway to funding by focusing on a comprehensive assessment of trading skills.
Account Balance and Registration Fee ▲
Prospective traders at Apex Trader Funding are required to select an account model and balance, which in turn dictates the challenge’s conditions and the corresponding registration fee. Notably, this fee is reimbursed upon successful qualification as a funded trader. Apex Trader Funding’s evaluation program encompasses a broad spectrum of account sizes, ranging from $25,000 to $300,000, offering a simplified route for traders aiming to qualify for different levels of funding. The fee structure and account balance options presented by Apex Trader Funding are tailored to accommodate a wide array of trading strategies and preferences.
Participants in the Apex Trader Funding challenge are obliged to adhere to specific rules and achieve predetermined Profit Targets, contingent on the challenge tier. Remarkably, traders are entitled to retain 100% of their initial $25,000 earnings per account and 90% of subsequent profits.
The maximum permissible loss across all account types within the Apex Trader Funding program is strictly limited to 6%. It is imperative for participants to comply with all established rules during the challenge phase to avoid cancellation of their test, which would necessitate a reset fee for re-entry from the beginning.
A common stipulation in Proprietary Trading evaluations is the achievement of profitability within a minimum specified period. Apex Trader Funding mandates a minimum trading duration of 7 days across all account sizes, underscoring the importance of consistent performance over this timeframe.
Our findings reveal that Apex Trader Funding does not offer a Free Trial, as the evaluation phase effectively serves as the trial period. This practice aligns with the norms of many Proprietary Trading Firms, where free trials are typically not provided, emphasizing the significance of the evaluation phase as a critical period of assessment for prospective traders.
Upon successfully completing the evaluation phase, traders are granted a Funded Account typically a few business days later. It's imperative to recognize that the characteristics and balance of this account mirror those of the evaluation phase you passed. Should you aspire to access a higher-tier account, reevaluation from the beginning is necessary for the new account balance you wish to manage.
Apex Trader Funding Funded Account
After passing the test or challenge, traders are allocated a Funded Account, generally within a few business days. It is essential to understand that the conditions and balance of this account will be equivalent to those of the test you were successful in. To upgrade to a higher-tier account, undergoing the evaluation process again from the beginning is required for the desired account balance you aim to operate with.
Profit Split
The profit-sharing arrangement at Apex Trader Funding is designed to favor traders. Once a trader is funded, they retain 100% of the initial $25,000 in profits. Thereafter, the profit split is favorable to the trader at 90%, with Apex Trader Funding receiving 10%.
In our comprehensive review of brokers, we meticulously examine account types, compatible trading platforms, available instruments, and trading expenses. The levels of leverage offered and specific trading conditions are also crucial, as certain restrictions in funded accounts could result in account forfeiture and necessitate requalification. A detailed analysis of these factors is provided below.
Trading Instruments
Apex Trader Funding focuses exclusively on futures trading instruments. This encompasses a broad variety of futures categories including equity indices, interest rates, currencies, agriculture, energy, metals, and micro futures, alongside cryptocurrency futures contracts.
Apex Trader Funding Commission
At the moment, detailed information regarding the commission rates at Apex Trader Funding is not made available. For the most precise and current commission structure, contacting their customer support directly is recommended.
Leverage
Our investigation reveals that Apex Trader Funding does not provide leverage. Traders are instead required to use their account balance as their purchasing power.
Apex Trader Funding App Platform
Apex Trader Funding grants access to several powerful trading platforms, including Rithmic, NinjaTrader, and Tradovate. These platforms equip traders with a wide array of tools and functionalities to bolster their trading experience and strategy implementation.
Trading Conditions
We scrutinize various specific regulations and conditions tied to the trading offerings, including limitations and available strategies, as well as aspects like slippage. Nonetheless, consulting the firm directly for the most current and detailed information on these matters is advised.
Popular trading strategies such as News Trading, Swing Trading, EA Trading, and Weekend Holding are permitted within Apex Trader Funding. Moreover, traders have the option to partake in Copy Trading with other Apex Trader Funding accounts, providing an additional benefit for those utilizing diverse strategies. However, it is critical to note that certain restrictions apply, including the prohibition of High-Frequency Trading, Latency Trading, and Arbitrage.
Apex Trader Funding Promotions
Apex Trader Funding permits traders to submit requests for payouts twice each month. The designated request periods span from the 1st to the 5th and from the 15th to the 20th of each month. Payments are usually disbursed on the 15th for the initial period and on the last day of the month for the subsequent period.
Following approval of a payout, it may take between 3-7 business days for the funds to be deposited into your bank account. It is important to remember that payout approval does not equate to immediate fund transfer.
Withdrawal Method
Withdrawals are executed via ACH payments to U.S. bank accounts for traders within the U.S., while traders outside the U.S. are encouraged to opt for the 'INTERNATIONAL OPTION' to avoid potential delays. The minimal withdrawal sum is set at $500, with maximum withdrawal limits in place for the initial three months. No maximum limit is imposed from the fourth month onwards, provided the account maintains the necessary minimum balance.
