Apex Trader Funding Review: Pros, Cons & Best For
Apex Trader Funding has become one of the most widely used futures prop firms for retail traders, rivaling Topstep despite launching nearly a decade later. In this Apex Trader Funding review, we break down everything: evaluation rules, the famous first-payout deal, their discount promo strategy, drawdown mechanics, platform options, and the honest pros and cons, so you can decide if Apex is the right firm for your trading.
Apex Trader Funding at a Glance
| Feature | Detail |
|---|---|
| Founded | 2021 |
| Market focus | Futures (CME markets) |
| Evaluation model | One-phase, one-time fee |
| Platforms | NinjaTrader, Rithmic, TradingView |
| Profit split | 100% first payout, then 90/10 |
| Account sizes | $25K to $300K |
| Website | apextraderfunding.com |
The Apex Evaluation: How It Works
Unlike Topstep’s monthly subscription model, Apex charges a one-time evaluation fee. You pay once, get access to a simulated evaluation account, and have up to 30 days to hit the profit target while staying within the drawdown rules.
Evaluation rules for the $100K account:
| Rule | Value |
|---|---|
| One-time fee | ~$167 (regular price) |
| Profit target | $9,000 (9%) |
| Daily loss limit | $3,000 |
| Max drawdown | $3,000 trailing (EOD) |
| Minimum trading days | 7 |
| Time limit | 30 days |
| Consistency rule | No single day > 30% of total target |
The 30-day time limit is a real constraint, and you need to manage your pacing. But with a $3,000 daily limit and no arbitrary number of phase gates to clear, the path to funding is more straightforward than multi-phase programs.
Account Sizes Available
Apex offers a wide range of account sizes, more than most competitors:
| Account | Regular Fee | Profit Target | Daily Limit | Contract Limit |
|---|---|---|---|---|
| $25,000 | ~$47 | $1,500 | $625 | 2 contracts |
| $50,000 | ~$97 | $3,000 | $1,250 | 5 contracts |
| $100,000 | ~$167 | $9,000 | $3,000 | 10 contracts |
| $150,000 | ~$237 | $12,000 | $4,500 | 12 contracts |
| $250,000 | ~$417 | $25,000 | $6,500 | 15 contracts |
| $300,000 | ~$567 | $30,000 | $7,500 | 15 contracts |
Fees subject to change; promotional pricing frequently offers 50–90% off regular prices.
The Famous Discount Promos
Apex is well-known for running aggressive promotional discounts, sometimes 80–90% off evaluation fees. A $167 evaluation drops to $16–$33 during these promos. They run them regularly throughout the year, often tied to holidays, major trading events, or quarterly periods.
Practical advice: Never pay full price at Apex. Join their email list, follow their social channels, and wait for a promo before buying an evaluation. The discount promos are reliable enough that full-price purchases are rarely necessary.
A $25K evaluation account at $5–$10 during a promo is genuinely one of the lowest-barrier entries into funded trading anywhere in the industry.
Multiple Funded Accounts: Apex’s Unique Advantage
One of Apex’s most significant and underappreciated differentiators: you can hold multiple funded accounts simultaneously.
Topstep and many other firms limit traders to one funded account. Apex allows traders to fund multiple accounts across different sizes, and there’s no rule against running three or four accounts at the same time if you’ve passed multiple evaluations.
For a disciplined trader with a systematic strategy, this is substantial. Running three $50K accounts is effectively the same as running a $150K account, but with the added protection that blowing one account doesn’t terminate the others.
The Drawdown Model: Trailing EOD Explained
Apex uses trailing drawdown on an end-of-day (EOD) basis. Here’s what that means in practice:
- Your drawdown floor is based on your end-of-day closing balance, not intraday peaks
- If your account hits a high of $107,000 intraday but closes at $103,500, the floor moves to $100,500 (based on $103,500 close, not $107,000 intraday high)
- This is significantly more trader-friendly than intraday trailing drawdown, which would have moved the floor to $104,000 based on the intraday peak
The important caveat: The trailing drawdown is still active throughout the entire funded phase. Unlike Topstep, which converts to static drawdown on funded accounts, Apex keeps trailing drawdown throughout. This means profitable funded traders must remain conscious of their floor moving upward even after months of success.
Learn more about how trailing drawdown works in detail →
The 100% First Payout: What It Actually Means
Apex offers 100% of your first payout, then 90/10 (you keep 90%) on all subsequent payouts.
This isn’t a gimmick. It’s a meaningful financial benefit that often covers part or all of your evaluation fee:
- You pass a $100K evaluation (fee: $167)
- You earn $2,000 in profits over your first month
- You request a payout: you receive $2,000 (100%)
- Your evaluation fee is essentially covered
From payout #2 onward, you keep 90%: a $2,000 profit pays out $1,800.
The 100% first payout is especially valuable if you passed the evaluation during a discounted promo. Your net cost to get funded could be $20–$50, and you recoup it entirely on the first withdrawal.
Platform Options
Apex supports three main trading platforms:
NinjaTrader 8
The most popular choice among experienced futures traders. Full charting, strategy automation, and custom indicator support. Apex pairs NinjaTrader with Rithmic as the data/execution backend.
Rithmic (via third-party front-ends)
Direct access to Rithmic for traders who use other Rithmic-compatible platforms.
TradingView
A relatively newer addition that makes Apex accessible to traders who prefer the browser-based TradingView environment. Simpler than NinjaTrader but sufficient for traders using basic order entry and charting.
Recommendation: If you’re serious about futures trading, learn NinjaTrader. It’s the industry standard for a reason: the depth of analysis, automation, and community resources is unmatched.
Payout Process and Speed
Apex pays out via:
- Deel (most popular for international traders)
- Bank wire (US traders)
- PayPal (in supported regions)
Payout minimum: $100 Payout frequency: Traders can request payouts on a biweekly basis
Payout speed is one area where Apex has generally performed well in community reviews. Most funded traders report receiving payouts within 3–7 business days of requesting, with occasional delays during high-demand periods.
One important note: During 2023–2024, some prop firms faced financial difficulties and delayed or denied payouts. Apex has not been immune to all controversy; there have been reports of rule changes applied retroactively in isolated cases. The consensus in the trading community remains largely positive, but independent verification through forums and communities before committing larger capital is always advisable.
Who Should Choose Apex Trader Funding?
Apex is a great fit for:
- Traders who want the best daily loss limits ($3,000 on $100K vs. Topstep’s $1,000)
- Cost-sensitive traders who want to minimize evaluation fees, especially during promos
- Traders who want to run multiple funded accounts simultaneously
- Traders who prefer a one-time fee rather than a recurring monthly subscription
- TradingView traders who don’t want to learn NinjaTrader
Apex is probably NOT right for:
- Traders who need static drawdown on funded accounts (Topstep and Tradeify offer this)
- Those who want unlimited evaluation time (Apex’s 30-day limit applies pressure)
- Traders who prioritize the most established firm with the longest operating history
Apex vs. Topstep: The Quick Comparison
| Rule | Apex | Topstep |
|---|---|---|
| Daily loss ($100K) | $3,000 | $1,000 |
| Eval cost | ~$167 one-time (often discounted) | ~$375/month |
| Funded drawdown | Trailing EOD | Static EOD |
| First payout | 100% | 100% up to $10K |
| Multiple accounts | Yes | No |
| Platform | NinjaTrader / TradingView | TopstepX |
| Operating history | 2021 | 2012 |
For a deeper head-to-head analysis with a final verdict by trading style, see our Apex vs. Topstep comparison.
Final Verdict: Outstanding Value, Especially for Newer Prop Traders
Apex Trader Funding earns its place as one of the top two futures prop firms for retail traders. The generous daily loss limits, frequent promo discounts, 100% first payout, and multiple-account flexibility make it genuinely the best value proposition in the space for most traders.
The trailing drawdown on funded accounts is the one area where Topstep has a meaningful structural advantage. Traders who plan to hold funded accounts for months or years should factor this in carefully.
Rating: 4.4 / 5
Best for: Traders at all experience levels who want the best bang for their evaluation dollar, especially those who benefit from wider daily loss limits and want to scale by running multiple accounts.
Compare all major firms in our prop firm directory, and make sure you understand the evaluation process end-to-end with our how prop firm evaluations work guide.
Key Takeaways
- Apex offers the widest daily loss limits in the industry ($3,000 on $100K) and frequently runs 80-90% discount promos on evaluation fees
- The 100% first payout deal often covers the entire evaluation fee, making the net cost of getting funded as low as $0-$50 during promos
- Multiple funded accounts can run simultaneously, allowing disciplined traders to scale income without proportionally higher risk on any single account
- The trailing EOD drawdown is maintained throughout the funded phase (unlike Topstep’s conversion to static), requiring ongoing vigilance as your floor rises
- Never pay full price at Apex; join their email list and wait for a promo before purchasing
Frequently Asked Questions
How often does Apex run discount promotions?
Apex runs promotional discounts regularly throughout the year, often tied to holidays, quarterly periods, or major trading events. Discounts of 50-90% off evaluation fees are common. The promos are frequent enough that paying full price is rarely necessary. Follow their social channels and email list for notifications.
Can I run multiple funded accounts at Apex simultaneously?
Yes. This is one of Apex’s most significant differentiators. You can hold multiple funded accounts across different sizes, and blowing one account does not affect the others. For a disciplined trader, running three $50K accounts provides $150K in combined capital with the protection of account isolation.
What is the difference between Apex and Topstep for long-term funded trading?
Apex wins on cost, daily loss limits, and multiple-account flexibility. Topstep wins on funded drawdown model (static vs. Apex’s trailing) and operating history (2012 vs. 2021). For short-term funded trading, Apex’s advantages are more impactful. For traders who plan to hold funded accounts for months or years, Topstep’s static drawdown provides increasing security.
Does Apex support TradingView for trading?
Yes. Apex supports NinjaTrader, Rithmic-based platforms, and TradingView. TradingView is a relatively newer addition that makes Apex accessible to traders who prefer the browser-based charting environment without learning NinjaTrader.
Risk Disclaimer: Trading involves substantial risk of loss. Past performance is not indicative of future results. See our full risk disclaimer.