Futures prop firm review
Apex Trader Funding review
Apex Trader Funding is one of the largest futures-focused evaluation firms. It runs a one-step evaluation with a trailing drawdown that tracks unrealized profit, offers seven account sizes from $25K through $300K, and advertises a 100% profit split on the first $25K of withdrawals plus 90/10 after. Traders pick Apex for volume of payouts and frequent promo cycles; traders avoid Apex when the trailing drawdown does not fit how they scale into trades.
Apex Trader Funding
80% off with PIPUp to 80% off with code PIP
Use code PIP for up to 80% off eligible evaluations. Applies to 7 eligible products.
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At a glance
Best-fit trader
Active intraday futures traders who want multiple funded accounts, frequent promo pricing, and weekly-or-faster payout cycles.
Main rule to understand first
Trailing drawdown tracks unrealized profit intraday, sizing inside a winning trade can move your drawdown line faster than you expect.
Quick facts
| Firm | Apex Trader Funding |
|---|---|
| Account sizes | $25,000 – $300,000 |
| Drawdown type Trailing by unrealized profit until equity is +$100 above the locked-in threshold, at which point the drawdown locks at initial + $100 for some accounts. Verify against current Apex rules before purchase. | Trailing |
| Profit split | 90/10 |
| Payout cadence | on-demand |
| Min payout | $500 |
| Platforms | Tradovate, NinjaTrader, Rithmic, Quantower, TradingView |
| News trading | Restricted, check firm rules |
| Copy trading | Allowed |
| Minimum trading days | 7 days |
| Country (HQ) | United States |
Pricing and PIP discount
Full-price evaluations, the PIP-adjusted price estimate, reset and activation fees, and the minimum out of pocket to reach a first payout.
| Account | Full price | With PIP | Reset | Activation | Min. out of pocket |
|---|---|---|---|---|---|
$25K Evaluation Target $1,500 · Max loss $1,500 | $147 | $29 | $80 | $130 | $159 |
$50K Evaluation Target $3,000 · Max loss $2,500 | $167 | $33 | $80 | $130 | $163 |
$75K Evaluation Target $4,250 · Max loss $2,750 | $187 | $37 | $80 | $130 | $167 |
$100K Evaluation Target $6,000 · Max loss $3,000 | $207 | $41 | $80 | $130 | $171 |
$150K Evaluation Target $9,000 · Max loss $5,000 | $297 | $59 | $80 | $130 | $189 |
$250K Evaluation Target $15,000 · Max loss $6,500 | $517 | $103 | $80 | $130 | $233 |
$300K Evaluation Target $20,000 · Max loss $7,500 | $657 | $131 | $80 | $130 | $261 |
PIP price applied to the evaluation only. Reset and activation fees shown at full price. Minimum out of pocket assumes you pass on the first attempt. Always confirm at checkout, offers change.
Rule summary
Plain-English rules pulled from the firm's published policies. Always verify on the firm's site before purchase.
| Drawdown type Trailing by unrealized profit until equity is +$100 above the locked-in threshold, at which point the drawdown locks at initial + $100 for some accounts. Verify against current Apex rules before purchase. | Trailing drawdown |
|---|---|
| Profit target Targets and limits scale with the account tier, see pricing. | $1,500 on the $25K Evaluation |
| Max loss | $1,500 on the $25K Evaluation |
| Consistency rule On funded accounts Apex applies a 30% consistency rule: no single trading day can exceed 30% of your total net profit at payout request. | Yes, no single day may exceed 30% of total profit |
| News trading | Restricted, check firm rules |
| Copy trading | Allowed |
| Scalping | Allowed |
| Overnight holds | Not allowed |
| Minimum trading days | 7 days |
| Inactivity limit | 7 days |
| Max contracts (by account) |
|
| One-direction rule | Reducing/scaling out inside a losing trade is fine; holding through a market halt is disallowed. |
Payouts
| First payout eligibility | After 8 trading days |
|---|---|
| Minimum payout | $500 |
| Maximum payout | Uncapped |
| Profit split | 90% trader / 10% firm |
| Payout cadence | on-demand |
| Payout methods | Bank wire, Plane Payments, Rise |
Conditions to satisfy on payout request
- Must satisfy the 30% single-day profit rule at payout request.
- First $25,000 of lifetime withdrawals per account is 100% to trader.
- Every payout request is reviewed by Apex's compliance team.
Common reasons payouts are rejected
- Single winning day above 30% of lifetime profit.
- Holding contracts into news windows marked restricted.
- Exceeding max contracts for the account tier.
Apex uses a split between performance account and live trader, payouts are processed from the performance account on payout days.
Who it fits / who should avoid it
Who Apex fits
- Scalpers and intraday futures traders who can hit profit targets without overnight risk.
- Traders who want multiple funded accounts running in parallel.
- Traders comfortable with a trailing drawdown and a 30% consistency rule.
Who should avoid Apex
- You swing-trade and need to hold contracts overnight.
- Your edge relies on a small number of outlier days (30% consistency rule will block payouts).
- You want end-of-day rather than trailing drawdown behavior.
FAQs
Does Apex honor code PIP?
What is the Apex trailing drawdown?
Can I hold positions overnight at Apex?
What does Apex pay out first?
How many Apex accounts can I hold at once?
Alternatives worth comparing
Not sure Apex fits? Here are two other futures prop firms worth comparing on rules and cost.
Hybrid drawdown
MyFundedFutures
Code PIP
current offer
US futures prop firm offering three program tiers, Starter, Expert, and Milestone, with end-of-day drawdown on the Expert and Milestone tracks and a one-step evaluation.
- Split
- 90/10
- Payout
- $1000
- Accounts
- 6
Platforms/Tradovate, NinjaTrader, Rithmic
End-of-day drawdown
Take Profit Trader
40%
off with code PIP
US futures prop firm running a one-step evaluation with end-of-day drawdown and a 90/10 profit split after the initial withdrawal threshold.
- Split
- 90/10
- Payout
- $250
- Accounts
- 4
Platforms/TopstepX, Tradovate, NinjaTrader