Apex Trader Funding Challenge Analysis

In the world of futures trading, prop firms play a vital role in providing traders with the opportunity to trade with real capital. Apex Trader Funding is one such prop trading firm that has gained recognition for its funded trader programs. In this comprehensive review, we will delve deep into the details of Apex Trader Funding, exploring its rules, challenges, and payouts.

What is Apex Trader Funding?

Apex Trader Funding is a US-based proprietary trading firm founded in 2021 by Darrell Martin. With its headquarters in Austin, Texas, the firm offers aspiring traders the chance to trade futures through its funded trader programs. These programs allow traders to access real capital and profit from their trading skills.

Is the Apex Trader Funding Challenge Legit?

Before diving into the specifics of Apex Trader Funding, it’s essential to establish its legitimacy. According to the company’s official website, Apex Trader Funding Inc. is registered at 2028 E. Ben White Blvd, Ste 240 -9873, Austin, TX 78741, with a phone number of 1-855-273-9873. While the company does not disclose its email address, it provides transparency in sharing its physical location and contact information.

Additionally, Apex Trader Funding enjoys an excellent reputation on Trustpilot, with an average rating of 4.8/5 based on 4,446 reviews as of October 2023. This positive feedback from traders highlights the firm’s credibility and the satisfaction of its clients.

The Apex Trader Funding Challenge

To become a funded trader with Apex Trader Funding, traders must first pass a challenge. The challenge is designed to evaluate traders’ skills and determine if they are ready to trade with real capital. Let’s explore the details of the Apex Trader Funding challenge, including the profit targets, drawdown limits, and other essential aspects.

One-Step Evaluations

Apex Trader Funding offers one-phase evaluations as part of its funded account plans. Traders have the option to choose between two plans: the Rithmic/NinjaTrader Plan or the Tradovate/NinjaTrader Plan. Each plan has its own features and pricing.

Rithmic/NinjaTrader Plans

The Rithmic/NinjaTrader Plan includes a NinjaTrader license (valued at $75) and real-time data feed (valued at $55). Traders can select from various account sizes, each with its own monthly recurring price:

• $25,000 account for $147
• $50,000 account for $167
• $75,000 account for $187
• $100,000 account for $207
• $150,000 account for $297
• $250,000 account for $517
• $300,000 account for $657

These accounts are classified as “Full Accounts” by Apex Trader Funding, meaning they trail a trailing threshold. Full accounts allow for trading with more contracts and larger stops. Additionally, a static account with a size of $100,000 is available for $137 per month.

Account Resets

In the event of a failed challenge, traders have the option to reset their accounts. Apex Trader Funding allows account resets for evaluation accounts, with a reset fee of $80. This means that traders can restart the challenge as many times as they need to until they pass. However, once traders progress to the funded account stage and fail, they cannot reset the funded account. Instead, they will revert to the challenge account.

Profit Goal and Trailing Stop

To successfully complete the one-step challenge, traders must reach a profit goal based on their starting capital. For example, traders with a $25,000 account need to achieve a profit goal of $1,500 to qualify for a funded account. It’s important to note that all accounts, except the static account, have a trailing threshold. If traders hit the trailing threshold, they fail the challenge or funded account.

The trailing threshold percentage decreases as the account size increases. For instance, the trailing threshold for a $25,000 account is $1,500, equivalent to 6% of the account balance. In contrast, the trailing threshold for a $150,000 account is $5,000, which represents only 3.3% of the account balance. This decrease in the trailing threshold percentage with larger accounts requires traders to adjust their position sizes and stop losses accordingly.

Tradovate/NinjaTrader Plans

The Tradovate/NinjaTrader Plan offers similar features to the Rithmic/NinjaTrader Plan but with additional benefits. Traders gain access to a free Tradovate license, compatibility with TradingView, and the ability to trade from more devices, including browsers, mobile devices, and Mac computers.

The account sizes and monthly recurring prices for the Tradovate/NinjaTrader Plan are as follows:

• $25,000 account for $167
• $50,000 account for $187
• $75,000 account for $207
• $100,000 account for $227
• $150,000 account for $317
• $250,000 account for $537
• $300,000 account for $677

Traders who prefer the Tradovate platform and the additional benefits it offers can opt for this plan, albeit at a slightly higher monthly cost compared to the Rithmic/NinjaTrader Plan.

Account resets, profit targets, and trailing thresholds remain the same for both the Rithmic and Tradovate plans. However, account resets with the Tradovate plan incur a fee of $100, compared to the $80 fee with the Rithmic plan.

Minimum Days to Qualify for a Funded Account

Traders can qualify for a funded account in as little as 7 business days. Apex Trader Funding defines a trading day as the period from 6 p.m. one day to 5 p.m. the next day. If a half trading day occurs due to a holiday, it counts toward the next day. This relatively short evaluation period allows traders to progress quickly and access the benefits of a funded account.

Close Your Trades Before Midnight to Avoid Disqualification

A crucial rule for traders participating in the Apex Trader Funding challenge is to close all trades before 4:59 PM ET. If the market closes earlier than this time, traders must close their trades before the end of the trading day. On market holidays with half-day trading, traders should close their trades before the end of trading on those holidays. Failure to adhere to this rule can result in disqualification. To stay informed about market holidays, traders can refer to the CME Group holiday calendar.

Live Accounts with Apex Trader Funding

Upon successfully passing the challenge, traders gain access to live funded accounts with Apex Trader Funding. Let’s explore the details of these live accounts, including the fees, platforms, and account management options.

Rithmic/NinjaTrader Plan Live Accounts

For traders who choose the Rithmic/NinjaTrader Plan, the monthly fees for live accounts are $85. This fee includes access to the NinjaTrader platform and data feeds. Traders can manage up to 20 accounts simultaneously, allowing for increased flexibility in their trading activities.

To avoid monthly costs, traders can opt for a lifetime fee for their time on the funded account. The one-time fee ranges from $130 to $340, depending on the account size. It’s worth noting that the duration of traders’ presence in the live account is uncertain, making it challenging to determine if the one-time fee is a more cost-effective option compared to the recurring monthly fee.

Tradovate/NinjaTrader Plan Live Accounts

For traders who prefer the Tradovate/NinjaTrader Plan, the monthly fees for live accounts amount to $105. This fee covers access to the NinjaTrader platform and data feeds. Similar to the Rithmic/NinjaTrader Plan, traders can manage up to 20 accounts concurrently.

As with the Rithmic/NinjaTrader Plan, traders can choose a lifetime fee instead of the monthly recurring fee. The lifetime fee ranges from $150 to $360, depending on the account size. Traders should carefully evaluate their expected duration on the live account to determine the most suitable payment option.

Payout Options For Apex Trader Funding Challenge Programs

Apex Trader Funding offers several payout options for traders. As of October 2023, traders can receive payouts through U.S. bank ACH transfers. Additionally, Wise provides a convenient payment option for traders within the U.S. For international transfers, Apex Trader Funding offers various options to accommodate traders’ needs.

Other Highlights of Apex Trader Funding Challenge Programs:

Here are some prominent highlights of Apex Trader Funding and its challenges:

Evaluation Fee Refunds

It’s important to note that Apex Trader Funding does not offer refunds for evaluation fees. Once traders commit to the challenge and pay the evaluation fee, it is non-refundable. Traders should consider this policy before embarking on the Apex Trader Funding challenge.

News Trading with Apex Trader Funding

One significant advantage of trading with Apex Trader Funding is the ability to trade during news events. Unlike some prop trading firms that impose restrictions on news trading, Apex Trader Funding allows traders to capitalize on market volatility during news releases. This flexibility provides traders with more opportunities to profit from market movements.

Apex Trader Funding’s Partner Broker

Apex Trader Funding does not disclose its partner brokers explicitly. However, the firm utilizes the Rithmic and Tradovate trading platforms, both of which can connect with multiple futures introducing brokers (FIBs). While the specific broker-funding combinations are not disclosed, traders can rest assured that their funded accounts will be associated with reputable brokers.

Trading Platforms Offered by Apex Trader Funding

Apex Trader Funding offers traders a choice of trading platforms based on their selected plan. Traders who opt for the Rithmic/NinjaTrader Plan can access the NinjaTrader platform. On the other hand, traders who select the Tradovate/NinjaTrader Plan can use either the NinjaTrader or TradingView platform. The availability of multiple platforms allows traders to choose the one that best suits their trading style and preferences.

Simulated Funds vs. Real Money Trading

During the evaluation phase of the Apex Trader Funding challenge, traders trade under simulated live conditions. This means that they are not using real money but are simulating trades based on real-time market data. Once traders successfully complete the challenge and progress to the funded account stage, they transition to trading with real money. However, it’s important to note that the official Apex Trader Funding website does not explicitly state whether traders trade with real money or simulated funds in the funded accounts.

Withdrawing Funds from Apex Trader Funding

Upon passing the Apex Trader Funding challenge and gaining access to the funded account, traders can withdraw real funds based on the profit split conditions. Apex Trader Funding offers payout frequencies of two times per month, providing traders with regular access to their profits. This consistent payout schedule ensures that traders can manage their finances effectively and plan their withdrawals accordingly.

Expert Advisors (EA), Bots, and Algos with Apex Trader Funding

While Apex Trader Funding does not explicitly mention the availability of Expert Advisors (EAs) for futures trading, traders can leverage the power of automation through the NinjaScript programming language. Using NinjaScript, traders can code their bots and algorithms to execute trades automatically on the NinjaTrader platform. However, it is advisable to consult Apex Trader Funding’s support team regarding any specific limitations or guidelines for algo trading.

Pros and Cons of Apex Trader Funding Challenge Programs

To summarize the key points covered in this review, let’s explore the pros and cons of trading with Apex Trader Funding.

Pros of Apex Trader Funding

• Excellent review ratings on Trustpilot, indicating high levels of customer satisfaction.
• Competitive pricing structure, offering affordable monthly fees for funded accounts.
• Favorable profit split conditions, with traders retaining 100% of the first $25,000 in profits and 90% of subsequent profits.
• Payouts via Wise by ACH transfers, providing convenience and flexibility for U.S. traders.
• Solutions available for international transfers, accommodating traders outside the U.S.

Cons of Apex Trader Funding

• No instant-funded accounts available, requiring traders to pass the evaluation phase before accessing real capital.

Conclusion

Apex Trader Funding stands as a reputable prop trading firm offering a comprehensive funded trader program for futures traders. With its transparent company details, positive customer reviews, and extensive range of tradable assets, Apex Trader Funding presents a compelling opportunity for aspiring traders. By successfully completing the Apex Trader Funding challenge, traders can unlock the potential to trade with real capital and take their futures trading career to new heights.