Apex Trader Funding - Prop Firm Review
- US futures prop firm (Austin, Texas); unregulated; all funded accounts are simulated
- 100% profit split – there is no split at all on current accounts
- Choose your drawdown: EOD Trail (once daily) or Intraday Trail (real-time on peak equity)
- Evaluations expire in 30 days with NO resets; a funded account closes after 6 payouts
- $500 minimum payout; 5 qualifying days per payout; nothing is refundable
Important: Apex replaced its entire product line on 1 March 2026. The monthly subscription, the 90/10 split, the 30% negative P&L rule and the 5:1 risk-reward rule are all gone — they are now “Legacy” and cannot be purchased. Everything on sale today is a one-time fee with a 100% profit split. Most reviews of Apex, including our own earlier version, still describe the old product. This page covers what you can actually buy today.
Last reviewed: 14 July 2026. Checked against Apex Trader Funding’s official help centre, terms of use, rules pages and live product picker. Figures below reflect the products on sale at the time of review; prop firm rules change often, so always confirm on the firm’s own pages before you buy.
Apex Trader Funding: the short version
- What it is: a US futures prop firm (Austin, Texas), unregulated, trading simulated capital. One of the largest in the world.
- The split: 100% — there is no split at all on current accounts. This is genuine, and close to unique.
- The drawdown: your choice. EOD Trail updates once a day; Intraday Trail follows your peak equity in real time. Take EOD if you want the gentler one.
- The catch: evaluations expire in 30 days with no resets, and a funded account closes after six payouts. A 50% consistency rule can block the payout button after one strong day.
- Cost: one-time fee (no rebill, no monthly charge on the funded account), plus a $59–$159 activation fee when you pass. Nothing is refundable.
- Best for: consistent daily futures traders who don’t hold overnight and don’t rely on resets.
Firm Overview
Apex Trader Funding is a Texas corporation headquartered in Austin, founded in 2021 by Darrell Martin, and one of the largest futures prop firms in the world. It is not regulated — the terms state plainly that Apex “is not a broker-dealer, futures commission merchant, or financial advisor” — and the funded accounts are simulated, using virtual funds. A separate, invite-only Live programme trades real capital at a 90/10 split.
The March 2026 relaunch changed almost everything, and mostly in the trader’s favour on the headline terms: the profit split went from 90/10 to a flat 100%, the monthly subscription became a one-time fee, and three of Apex’s most-criticised rules — the 30% negative P&L rule, the 5:1 risk-reward requirement and the old 30% consistency rule — were removed from the new products.
The trade-offs came elsewhere, and they are set out below.
The Product Line
Two evaluation types, four sizes each. The choice between them is the most important decision you will make here.
| Evaluation | Drawdown | Daily loss limit | Profit target (50K) | Max DD (50K) |
|---|---|---|---|---|
| EOD Trail | End-of-day trailing | Yes ($1,000 on 50K) | $3,000 | $2,000 |
| Intraday Trail | Real-time intraday trailing | None | $3,000 | $2,000 |
Sizes are 25K, 50K, 100K and 150K. Evaluations run for 30 days and, importantly, there are no resets — a blown evaluation must be repurchased. That is a significant change from the old model, where resets were routine.
The EOD account is the more forgiving product, and Apex charges more for it accordingly. Its threshold recalculates once a day on your closing balance and never moves down. The Intraday account follows your peak balance including unrealised gains, in real time — the harsher model, though it comes with no daily loss limit at all.
One detail worth knowing if you choose the vendor Tradovate: on Rithmic and WealthCharts the EOD drawdown stops trailing once you hit the profit target, but on Tradovate it keeps trailing indefinitely.
Fees
Intraday evaluations list at $199 to $599; EOD evaluations at $390 to $1,490. Apex runs near-permanent discounts — a code offering up to 90% off was live at the time of review — so the list price is rarely what anyone pays.
There is a one-time activation fee when you pass: $59 on Intraday, and $99 to $159 on EOD. A more expensive “no activation fee” version of each evaluation is also sold. You have seven days from passing to activate, or the opportunity expires permanently.
Nothing is refundable — “we do not offer refunds, whether in whole or in part”. There is no monthly fee on the funded account.
100% Profit Split – With Six Payouts
The headline is real: “Approved payouts are issued at a 100% payout split, you receive 100% of the approved payout amount.” There is no split at all on the current simulated products, which is close to unique in this sector.
The structure around it is where the detail lives.
| Payout term | Detail |
|---|---|
| Split | 100% |
| Minimum payout | $500 |
| Qualifying days | 5 days, each hitting a minimum daily profit ($100-$350 by size) |
| Maximum payouts | 6 per account – then the account closes |
| Per-payout caps | $1,000 to $3,000, rising across the six payouts |
| Safety net | Drawdown limit + $100, maintained for the life of the account |
| Processing | Typically 5-11 business days end to end |
| Methods | ACH (US) or Plane (international) |
Two things changed here and both are tighter than before. The six-payout cap means a successful account has a finite life — after the sixth payout it closes and you requalify. And the safety net, which previously applied only to the first three payouts, now applies permanently: only profit above it can ever be withdrawn.
The 50% Consistency Rule
It applies to the funded account, not the evaluation, and it gates the payout button rather than failing you:
“No single profitable trading day may account for 50% or more of total profit earned since your last approved payout. If this requirement is not satisfied, the payout request option will not be available until you reach 50% consistency.”
So one very strong day means you keep trading until the ratio comes down. It resets after each approved payout. It is more generous than the 30% rule it replaced, but it is still the most likely reason a profitable Apex trader cannot withdraw.
The Rules That End Accounts
- Holding through the close: “Traders engaging in these prohibited activities will forfeit their accounts and all associated balances.” All positions must be flat before the market closes. There is no overnight or weekend holding.
- Hedging: banned entirely. Directional trading only, and all your funded accounts must trade in the same direction.
- Automation and EAs: not allowed. “Rewards are intended to recognize human traders… not to reward automated systems.”
- Scaling: contracts and the daily loss limit are tier-locked to your prior session’s closing balance. A funded 25K account starts at one contract. You tier back down if the balance falls.
- Contract limits are roughly halved on the funded account — a 50K evaluation allows 6 contracts, the funded version starts at 4 and scales from 2.
- Inactivity: you need two trading days with $50+ profit in every rolling 30-day period. At 30 days the account closes and “any accumulated rewards or payout eligibility are forfeited”.
- News trading: permitted for a normal strategy; “chasing the market” or bracketing both sides of a release is not.
- Account cap: 20 active funded accounts across your household and any companies.
One point of balance. Apex markets “Simple Rules. No Gray Area.” and “No Payout Denials”. The prohibited-activities page is broader than that suggests, banning “any trading… that fails to demonstrate consistent growth and sustainability” and requiring strategies “consistent with those they would use in a personally funded account”. Those are judgement calls, and the payout pages do describe circumstances in which a request is denied. We mention it not as an accusation, but because the marketing is more absolute than the rules.
Company Information
- Entity: Apex Trader Funding, a Texas corporation, Austin, Texas. Founded 2021; CEO Darrell Martin
- Governing law: Texas; arbitration in Travis County
- Regulation: none. Not a broker-dealer, FCM or financial advisor
- Account type: simulated. A separate invite-only Live programme uses real capital at a 90/10 split
- Platforms: Rithmic, Tradovate and WealthCharts. NinjaTrader licence and real-time data included
- Trustpilot: 4.3 out of 5 from over 20,000 reviews, with no consumer alert on the listing
Who Apex Actually Suits
On headline terms, the new Apex is one of the most generous futures offers available. A 100% profit split with no split at all, a one-time fee with no rebill, no monthly charge on the funded account, no consistency rule in the evaluation, no minimum trading days, and the option of an end-of-day drawdown if you want to avoid intraday trailing. Three of the rules that made the old Apex frustrating have simply been deleted.
What you give up is margin for error. Evaluations expire in 30 days and cannot be reset, so a bad week costs you the whole fee. The funded account closes after six payouts. The safety net now applies for life. Contract limits are halved when you get funded, and the 50% consistency rule can hold your payout button hostage after a single strong day.
Consider it if you are a consistent daily futures trader, you take the EOD account to avoid the intraday trail, and you are comfortable with a finite six-payout account life.
Avoid it if you rely on resets to get through evaluations, you hold positions overnight, you trade automated systems, or you tend to make most of your money on one big day.
Frequently Asked Questions
What is Apex Trader Funding’s profit split?
100%. On all current simulated funded accounts there is no split at all — “you receive 100% of the approved payout amount”. This replaced the old 90/10 model on 1 March 2026. The separate invite-only Live programme, which uses real capital, pays 90/10.
Does Apex still have a monthly subscription?
No. Since 1 March 2026 all evaluations are a one-time fee with no rebill. There is also no monthly fee on the funded account. There is a one-time activation fee when you pass — $59 on Intraday, $99 to $159 on EOD — unless you buy the more expensive “no activation fee” version.
Can you reset an Apex evaluation?
Not any more. Current evaluations run for 30 days with no resets — if you fail, you must buy a new one. Resets are only available on Legacy accounts bought before the March 2026 relaunch. This is the single biggest trade-off in the new model.
Does Apex have a consistency rule?
Not in the evaluation. On the funded account there is a 50% rule: no single day may account for 50% or more of your profit since your last payout. It does not fail the account — it simply blocks the payout button until further trading brings the ratio down. It resets after each approved payout.
How many payouts can you take from an Apex account?
Six. After the sixth payout the account closes, and you must qualify through a new evaluation to continue. Each payout requires five qualifying days with a minimum daily profit, and the minimum payout is $500. Per-payout caps run from $1,000 to $3,000 depending on size and payout number.
Can you hold trades overnight at Apex?
No. All positions must be closed before the market close, and holding through it means you “forfeit their accounts and all associated balances”. There is no overnight or weekend holding. News trading, however, is permitted for a normal trading strategy.
There are no reviews yet.