Apex Trader Funding is a US-based prop trading firm that provides one of the , with monthly participation fees of $137 to $657 per month. In this article, you’ll find a comprehensive review with details about Apex Trader Funding rules, challanges and payouts.
Apex Trader Funding is the largest futures prop firm by total trader payout volume, and considered one of the best funded trader programs for futures traders. The model is straightforward: pay a one-time evaluation fee, pass a single-step assessment, activate a Performance Account, and collect simulated funded rewards. No recurring subscriptions on new accounts. No second evaluation phase. Three platform options. Accounts from $25,000 to $150,000 in starting capital.
The firm relaunched its product line on March 1, 2026, replacing the old account structure entirely. Everything in this review covers the current EOD and Intraday products only.
Credibility Check
- Legal name: Apex Trader Funding Inc.
- Registered address: 2028 E. Ben White Blvd Ste 240-9873, Austin, TX 78741
- Founded: 2021
- CEO: Darrell Martin
- Contact: 24/7 support via helpdesk at apextraderfunding.com
- Trustpilot: 4.4/5 based on 19,000+ reviews (verified April 2026)
Apex discloses its company address, legal name, and leadership publicly. That is the baseline standard and they meet it.
The Two Account Paths
Every Apex account starts with a choice: EOD Trailing Drawdown or Intraday Trailing Drawdown. The difference is not cosmetic. It determines how your drawdown is measured throughout the entire evaluation and funded account, and it changes how much risk you carry on any given open trade.
EOD (End-of-Day) Trailing Drawdown: Drawdown is recalculated once per day at 4:59:59 PM ET based on your closing balance. The threshold updates after the session, not during it. Intraday volatility does not move the floor. If you have a winning open position at 2 PM, it does not raise your drawdown threshold until the session closes. This gives traders more room to hold positions without worrying about the threshold chasing them in real time.
Intraday Trailing Drawdown: The threshold adjusts continuously with the account’s highest balance, including unrealized gains. If an open ES trade moves $800 in your favor, the trailing threshold rises by $800 immediately, before you close the position. If the trade reverses, the threshold stays where it moved to. This is the more demanding of the two models and the more punishing for traders who let winners run before locking in.
Choose based on how you trade. Scalpers and intraday traders who take profits quickly will find the intraday model manageable. Swing-style futures traders who hold through volatility are better served by the EOD path.
EOD Evaluation: Parameters
| 25K | 50K | 100K | 150K | |
|---|---|---|---|---|
| Profit Target | $1,500 | $3,000 | $6,000 | $9,000 |
| Max Drawdown (EOD) | $1,000 | $2,000 | $3,000 | $4,000 |
| Daily Loss Limit | $500 | $1,000 | $1,500 | $2,000 |
| Max Contracts (Eval) | 4 | 6 | 8 | 12 |
| Access Period | 30 days | 30 days | 30 days | 30 days |
| Min Days to Pass | 1 | 1 | 1 | 1 |
| Consistency Rule | None | None | None | None |
The EOD evaluation has a Daily Loss Limit that the intraday evaluation does not. If intraday losses reach the DLL, positions are auto-liquidated and trading pauses for the rest of the session. The account stays active. The DLL does not change during the evaluation based on account performance; it is fixed at the amounts shown above.
The EOD drawdown trails the highest end-of-day balance and locks permanently once the balance closes above the profit target level. For Rithmic and WealthCharts accounts: when the highest EOD balance exceeds the starting balance plus the profit target, the EOD threshold stops moving and locks at a fixed floor. Tradovate evaluations trail indefinitely with the peak EOD balance without locking.
No minimum number of trading days required. The account can be passed on the first day of trading if the profit target is reached without breaching any rules.
Intraday Evaluation: Parameters
| 25K | 50K | 100K | 150K | |
|---|---|---|---|---|
| Profit Target | $1,500 | $3,000 | $6,000 | $9,000 |
| Max Drawdown (Intraday Trail) | $1,000 | $2,000 | $3,000 | $4,000 |
| Daily Loss Limit | None | None | None | None |
| Max Contracts (Eval) | 4 | 6 | 8 | 12 |
| Access Period | 30 days | 30 days | 30 days | 30 days |
| Min Days to Pass | 1 | 1 | 1 | 1 |
| Consistency Rule | None | None | None | None |
No DLL during the intraday evaluation. The intraday trailing threshold does the same protective work, since it auto-liquidates once the balance touches the threshold. On a 50K intraday eval, if the account peaks at $51,800 intraday, the trailing threshold rises to $49,800. If the balance subsequently falls back to $49,800, all positions liquidate and the evaluation fails.
The threshold stops trailing in Performance Accounts once starting balance plus $100 is reached. That lock does not apply during the evaluation itself.
Performance Accounts: How the Funded Stage Actually Works
Passing the evaluation is step one. The Performance Account (PA) is where the rules become more complex, and where most traders encounter surprises.
Activation
After passing, a 7-calendar-day window opens to pay the one-time PA activation fee. Miss the window and the opportunity expires permanently. A new evaluation must be passed to qualify again. The fee is non-refundable and non-transferable.
For reference, the activation fee on a 25K Rithmic Intraday account is $89. Activation fees for other sizes were not confirmed in source documentation at time of writing. Verify current fees on the Apex website before purchasing.
Scaling: Contract Limits Change as the Account Grows
In the PA, the maximum contract size is not fixed. It starts lower than the evaluation and scales upward as the account hits profit milestones. Both the contract limit and the Daily Loss Limit adjust at each tier.
$25K Performance Account
| Profit Range | Max Contracts | Daily Loss Limit | Tier |
|---|---|---|---|
| $0 – $999 | 1 contract | $500 | Level 1 |
| $1,000 – $1,999 | 2 contracts | $500 | Level 2 |
| $2,000 and above | 2 contracts | $1,250 | Level 3 |
$50K Performance Account
| Profit Range | Max Contracts | Daily Loss Limit | Tier |
|---|---|---|---|
| $0 – $1,499 | 2 contracts | $1,000 | Level 1 |
| $1,500 – $2,999 | 3 contracts | $1,000 | Level 2 |
| $3,000 – $5,999 | 4 contracts | $2,000 | Level 3 |
| $6,000 and above | 4 contracts | $3,000 | Level 4 |
$100K Performance Account
| Profit Range | Max Contracts | Daily Loss Limit | Tier |
|---|---|---|---|
| $0 – $1,999 | 3 contracts | $1,750 | Level 1 |
| $2,000 – $2,999 | 4 contracts | $1,750 | Level 2 |
| $3,000 – $4,999 | 5 contracts | $1,750 | Level 3 |
| $5,000 – $9,999 | 6 contracts | $2,500 | Level 4 |
| $10,000 and above | 6 contracts | $3,500 | Level 5 |
$150K Performance Account
| Profit Range | Max Contracts | Daily Loss Limit | Tier |
|---|---|---|---|
| $0 – $1,999 | 4 contracts | $2,500 | Level 1 |
| $2,000 – $2,999 | 5 contracts | $2,500 | Level 2 |
| $3,000 – $4,999 | 7 contracts | $2,500 | Level 3 |
| $5,000 – $9,999 | 10 contracts | $3,000 | Level 4 |
| $10,000 and above | 10 contracts | $4,000 | Level 5 |
Tiers are reviewed at end of day based on closing balance. A profitable day moves the account up. A losing day can move it back down. The DLL will never drop below the Level 1 floor, regardless of how far the account balance falls.
Payout Requirements
Payouts are not available on demand. Six conditions must all be met before the “Request Payout” button appears in the dashboard.
EOD Performance Account Payout Requirements
| Account Size | Min Trade Days | Min Daily Profit | Safety Net | Min Balance to Request | Max Payouts |
|---|---|---|---|---|---|
| 25K | 5 | $100 | $26,100 | $26,600 | 6 |
| 50K | 5 | $250 | $52,100 | $52,600 | 6 |
| 100K | 5 | $300 | $103,100 | $103,600 | 6 |
| 150K | 5 | $350 | $154,100 | $154,600 | 6 |
Intraday Performance Account Payout Requirements
| Account Size | Min Trade Days | Min Daily Profit | Safety Net | Min Balance to Request | Max Payouts |
|---|---|---|---|---|---|
| 25K | 5 | $100 | $26,100 | $26,600 | 6 |
| 50K | 5 | $200 | $52,100 | $52,600 | 6 |
| 100K | 5 | $250 | $103,100 | $103,600 | 6 |
| 150K | 5 | $300 | $154,100 | $154,600 | 6 |
The 5 qualifying trading days do not need to be consecutive. Each qualifying day must meet the minimum daily profit for that account size. A day that falls short of that minimum does not count toward the 5.
Minimum payout amount per request: $500. Payout split: 100%. The approved amount goes entirely to the trader.
The maximum of 6 payouts per Performance Account is a hard ceiling. Once all 6 are claimed, the account is done. A new evaluation must be passed to access a new PA.
The 50% Consistency Rule
This applies to payout eligibility in the PA, not to the evaluation. The rule: no single profitable trading day may account for 50% or more of total profit earned since the last approved payout.
The calculation resets after each approved payout. For a trader on a 50K PA who has accumulated $3,000 in profit since their last payout, the largest single profitable day must be under $1,500 for the payout button to be available.
If the percentage is above 50%, the account stays active and trading continues. The payout button simply remains locked until more trading days bring the ratio below the threshold. There is no time limit on this.
Where this bites traders: a single strong day early in the cycle can lock the payout button for weeks. On a 50K PA, if day one produces $1,200 in profit and subsequent days are modest, the trader needs total profit to reach at least $2,400 before the button unlocks. Losing days make this worse because they reduce net profit while the best day stays fixed.
The Inactivity Rule
PA accounts require at least 2 trading days with $50 or more in net profit within every rolling 30-day period. After 15 consecutive days without meeting this, the account enters a dormant state. After 30 consecutive days, the account is permanently closed.
Closed accounts cannot be reinstated. All accumulated rewards are forfeited.
This rule exists to prevent traders from sitting on funded accounts without actively trading. It is enforced automatically.
Platforms
Three platform options, each with different instrument availability and data feed compatibility.
Rithmic: The broadest instrument list. Compatible with NinjaTrader 8, Sierra Chart, Quantower, BookMap, ATAS, Jigsaw, MotiveWave, Finamark, EdgePro X, and others via connection guides. Traders who prefer a specific third-party charting platform will generally find Rithmic the most flexible.
Tradovate: Browser-based and mobile-friendly. Has a built-in group copier and supports trading on mobile via the Tradovate app. EUREX instruments are available exclusively on Tradovate. Also connects to NinjaTrader 8.
WealthCharts: The newest option. Integrated charting and order management in a single platform.
All three platforms include real-time data and a free NinjaTrader license where applicable. Commissions and instrument availability differ by platform. Traders should verify specific instrument access before choosing.
Currently unavailable: COMEX metals contracts (temporarily suspended across all platforms at time of writing).
Instruments
Apex covers a broad range of futures categories. Key instruments available across platforms:
Equity Futures: ES (E-mini S&P 500), NQ (E-mini Nasdaq-100), YM (Mini-Dow), RTY (Russell 2000), EMD (E-mini Midcap 400), NKD (Nikkei). Micro versions: MES, MNQ, MYM, M2K.
Energy: CL (Crude Oil), NG (Natural Gas), QM (Mini Crude Oil), HO (Heating Oil), RB (New York Harbor RBOB). Micro: MCL.
Currency Futures: 6E (Euro FX), 6B (British Pound), 6J (Japanese Yen), 6A (Australian Dollar), 6C (Canadian Dollar), 6S (Swiss Franc), 6N (New Zealand Dollar). Micro versions available.
Agricultural: ZC (Corn), ZW (Wheat), ZS (Soybeans), ZM (Soybean Meal), ZL (Soybean Oil), HE (Lean Hogs), LE (Live Cattle), GF (Feeder Cattle).
Crypto Futures: MBT (Micro Bitcoin), MET (Micro Ethereum).
EUREX (Tradovate only): FDAX (DAX Index), FDXM (Mini-DAX), FESX (Euro Stoxx 50), FGBL (Euro-Bund), and others.
Gold (GC), Silver (SI), Copper (HG), and other COMEX metals are temporarily unavailable.
Pricing
All new evaluation accounts are one-time fees with no recurring billing. The account runs for 30 calendar days from purchase. If the evaluation expires without passing, a new account must be purchased.
There are no resets on new accounts. A failed evaluation requires a new purchase.
At the time of writing, Apex is running a promotional discount of up to 90% off evaluation fees. The current coupon code shown on site is SAVENOW.
The 25K Rithmic Intraday evaluation lists at $199 retail. With the SAVENOW code, the fee drops to $19.90. Pricing for other account sizes and platforms was not confirmed in the source documentation. Verify current pricing at apextraderfunding.com before purchasing.
The PA activation fee is a separate one-time payment per account, due within 7 days of passing. It is non-refundable. For a 25K Rithmic Intraday PA, the activation fee is $89. Fees for other sizes should be confirmed on the Apex pricing page.
No refunds on any purchases. This includes evaluation fees, PA activation fees, and data add-ons. If the wrong plan is selected at checkout, Apex’s policy is to keep trading the current plan or purchase a new one. There is no transfer or swap option.
What the Rules Mean in Practice
The evaluation is genuinely simple. One step, no minimum trading days, no consistency requirement during the assessment, no scaling constraints. Pass the profit target without breaching the drawdown and the evaluation is done.
The Performance Account is more demanding. Traders who go in expecting to pass the evaluation and immediately scale up are in for a correction. The 25K PA starts at 1 contract maximum. The 50K PA starts at 2. Those are the actual funded contract limits until enough profit accumulates to move up a tier.
The 50% consistency rule is the most consequential ongoing constraint. A trader who has one very good day out of ten will find the payout button locked far longer than expected. There is no way to reduce the best day’s size retroactively. The only path forward is to trade more days and increase total profit until the ratio falls below 50%.
The 6-payout maximum is a structural ceiling that distinguishes Apex from firms with no payout limit. A trader who repeatedly passes evaluations will accumulate multiple PAs. Each has its own 6-payout ceiling. Planning around this ceiling matters if the goal is sustained income from the platform.
The intraday drawdown model is harder to trade than the EOD model for any strategy that involves holding positions through intraday volatility. The threshold rises with unrealized profits and does not come back down. Traders who prefer the EOD model specifically because it evaluates drawdown only at session close are making a rational choice.
Prohibited Activities Worth Knowing
Apex prohibits trading without stop losses or a defined risk management strategy. Mental stops count; pending stops are not strictly required. Trading strategies with very small profit targets relative to very large stops (e.g., 5-tick target, 150-tick stop) are specifically called out as unacceptable.
Using the trailing threshold as a de facto stop loss is prohibited. This means a trader cannot simply let a position run against them until the account auto-liquidates and treat that as an acceptable risk management approach.
Buying multiple discounted evaluation accounts with the intent to “blow up” accounts hunting for a windfall is prohibited. Apex monitors account patterns for this behavior.
High-frequency trading and exploitation of the simulated environment are prohibited. Account sharing and IP/MAC address sharing across accounts are prohibited and result in account closure.
Pros
- One-step evaluation with no minimum trading days required to pass
- One-time fees with no recurring billing on new accounts
- 100% payout split; no split of approved rewards
- Up to 20 accounts simultaneously; useful for spreading risk across multiple positions
- Broad instrument list covering equity, energy, currency, agricultural, and EUREX futures
- Three platform choices including Rithmic for maximum third-party compatibility
- No restrictions on trading during news events or holidays
- Company address, legal name, and CEO publicly disclosed
Cons
- 6-payout maximum per Performance Account is a hard ceiling; the account is then finished
- PA contract limits start low and require accumulated profit to scale; a 25K PA begins at 1 contract
- The 50% consistency rule can lock the payout button for extended periods after a single strong day
- No refunds on any purchase, including evaluation fees and PA activation fees
- The intraday trailing drawdown includes unrealized PnL, making it more difficult to manage than the EOD model for traders who hold positions through volatility
- Performance Accounts close permanently after 30 days of insufficient activity; there is no reinstatement
Bottom Line
Apex Trader Funding is the most straightforward evaluation structure in the futures prop space. One step, one fee, no monthly billing. The evaluation rules are genuinely minimal. Traders who can manage risk and hit a profit target have a clear path to a funded account.
The Performance Account introduces the real constraints. The 50% consistency rule, the scaling tiers that start at low contract limits, the 6-payout ceiling, and the strict inactivity policy are all material. None of them are hidden, but traders who read only the evaluation rules and assume the funded stage is similarly simple will be surprised.
The choice between EOD and Intraday drawdown deserves serious consideration before purchase. It is not a formatting preference. It is a fundamental difference in how much risk the account carries on open positions.
For traders who want the simplest evaluation structure in futures prop trading, with transparent company details and the largest payout volume in the category, Apex is a good starting point, while TradeDay is currently the best futures prop firm due to their rules.
FAQ
What is the difference between the EOD and Intraday drawdown accounts?
The EOD drawdown is calculated once per day at 4:59:59 PM ET based on the closing balance. It does not move intraday. The intraday drawdown trails the account’s highest balance in real time, including unrealized gains. An open winning trade raises the intraday threshold immediately, before the trade is closed. The EOD model is more forgiving for traders who hold positions through intraday volatility.
How long does it take to pass the evaluation?
There is no minimum. An evaluation can be passed in a single trading day if the profit target is reached without breaching the drawdown. The evaluation window is 30 calendar days.
What happens if I do not pass the evaluation within 30 days?
The evaluation expires at 11:59 PM ET on day 30. The balance does not carry over and the account closes. A new evaluation must be purchased to try again.
How many contracts can I trade in the Performance Account?
This depends on the account size and current profit tier. A 50K PA starts at 2 contracts and scales up to a maximum of 4 contracts at the highest tier. A 100K PA starts at 3 and reaches a maximum of 6. Contract limits in the evaluation are higher than in the PA starting tier.
What is the 50% consistency rule?
No single profitable trading day may account for 50% or more of total profit since the last approved payout. If that ratio is 50% or higher, the payout request option is unavailable. The account continues trading and the ratio eventually falls as more profitable days accumulate. Losing days reduce net profit while the best day remains fixed, which can make the ratio worse temporarily.
Is there a limit on how many payouts I can request?
Yes. Each Performance Account allows a maximum of 6 approved payouts. Once all 6 are claimed, the account is finished. A new evaluation must be passed to access a new PA.
What are the payout methods?
US-based traders receive payouts via ACH direct deposit to a bank account. International traders receive payouts through Plane, a global payment provider. The payout method must be configured in the dashboard before requesting a payout.
What happens if my Performance Account goes inactive?
The PA requires at least 2 trading days with $50 or more in net profit within every rolling 30-day period. After 15 days without meeting this, the account enters a dormant state. After 30 consecutive days of failing the activity threshold, the account is permanently closed. Closed accounts cannot be reinstated and accumulated rewards are forfeited.
Can I hold multiple Apex accounts at the same time?
Yes. Apex allows up to 20 accounts simultaneously. Each account operates independently with its own drawdown, payout history, and tier level.
Are there restrictions on trading strategies?
Apex prohibits trading without stop losses or risk management, strategies with disproportionately large stops relative to targets, use of the trailing threshold as a stop-loss mechanism, high-frequency trading, and exploitation of the simulated environment. Holiday and news trading are permitted.