FTMO and Apex Trader Funding are both household names in prop trading, but they operate in different markets with very different business models. FTMO is a forex and CFD firm with premium pricing, strict-but-fair rules, and a decade of trust. Apex is a futures firm with perpetual discount sales, simplified rules since March 2026, and the highest reported payout total in futures prop trading.
Quick answer: FTMO is better for forex/CFD traders who want the most proven, reliable experience. Apex is better for futures traders who want the cheapest possible entry and a simplified evaluation. They don't compete directly on markets, but the comparison matters for traders deciding between forex and futures prop trading.
Side-by-Side Comparison
| Feature | FTMO | Apex Trader Funding |
|---|---|---|
| Founded | 2015 | ~2021 |
| Markets | Forex, indices, commodities, crypto | CME futures only |
| Trustpilot | 4.8/5 (40,000+ reviews) | 4.4/5 (17,860+ reviews) |
| Total Payouts | $200M+ | $721M+ reported |
| Evaluation | Two-step | One-step (pass in 1 day) |
| Entry Price | From €89 (one-time, refundable) | From $147 (but 80-90% off sales weekly) |
| Effective Entry | €89-€1,080 | $15-$69 during sales |
| Profit Split | 80%, scaling to 90% | 100% of approved rewards |
| Max Account Size | $200,000 | $300,000 |
| Max Simultaneous Accounts | 1 active at a time | Up to 20 |
| Drawdown Type | Static (5% daily / 10% max) | Real-time trailing, never resets |
| Payout Cycle | Bi-weekly, ~8 hours | Weekly |
| Platforms | MT4, MT5, cTrader, DXTrade | NinjaTrader, Tradovate, TradingView |
| News Trading | Unrestricted | Unrestricted (since March 2026) |
The Market Split
Just like the FTMO vs Topstep comparison, the market difference is the first filter. FTMO covers forex, indices, commodities, and crypto CFDs. Apex covers CME futures exclusively. If you trade EUR/USD, go with FTMO. If you trade E-mini S&P or Nasdaq futures, go with Apex.
For US traders, the regulatory environment pushes many toward futures since CFD trading faces restrictions under Dodd-Frank. Apex is built for that audience.
Pricing: Premium vs Budget
The pricing philosophies couldn't be more different.
FTMO charges a one-time fee (€89 to €1,080 depending on account size) that gets refunded with your first profit split. You pay once, and if you pass, you get the money back. No subscription, no recurring charges. The economics favour traders who pass on their first attempt.
Apex runs 80-90% off discount sales almost every week. The regular price for a $25K account is $147, but nobody pays that. During sales, the same account costs $15-$29. Even the $300K account drops to $35-$69. These are now one-time payments (Apex switched from subscriptions in March 2026).
On raw price, Apex wins by a mile. A $15 Apex account during a sale vs a €540 FTMO account isn't a close contest. But FTMO refunds the fee, making it free for successful traders. Apex doesn't refund.
For traders who expect to need multiple attempts, Apex's approach is far cheaper. You can buy several Apex accounts for the price of one FTMO evaluation. And with 20 simultaneous accounts allowed, some traders run multiple Apex evaluations at once to increase their odds.
Winner: Apex on upfront cost. FTMO on total cost for successful traders.
Evaluation Rules
FTMO's two-step evaluation has been consistent for years. Phase 1 requires 10% profit in 30 days. Phase 2 requires 5% in 60 days. Both phases enforce 5% daily loss and 10% max loss limits. Minimum 4 trading days per phase.
Apex simplified its evaluation dramatically in March 2026. Hit the profit target without breaching the trailing drawdown. That's it. No minimum trading days. No Maximum Adverse Excursion rule. No one-direction restriction. No 5:1 risk-reward requirement. You can theoretically pass in a single trading day.
The simplification makes Apex's evaluation easier to understand. But the trailing drawdown is where the difficulty lives. It follows your equity high in real-time and never resets. A $2,000 unrealised profit peak that pulls back immediately shrinks your buffer by $2,000, even if you close the day flat.
FTMO's static drawdown doesn't move as your account grows. A $100K account always has a floor at $90K. If you grow to $110K, you have $20K of room. This is fundamentally more forgiving.
Winner: Apex for simplicity and speed. FTMO for drawdown fairness.
Profit Splits and Payouts
FTMO offers an 80% profit split that scales to 90% through the Scaling Plan. Payouts are bi-weekly with approximately 8-hour processing. Your evaluation fee is refunded with your first payout.
Apex offers 100% of approved payout rewards. But initial payout caps of $1,000-$2,500 limit how much you can withdraw early on. By the sixth payout, caps increase to $1,000-$5,000. Payouts process weekly with 5 profitable days required for eligibility.
The 100% from Apex looks better on paper, but the initial caps mean you can't access large profits quickly. FTMO's 80% with no caps and fast processing delivers more money sooner in many real-world scenarios.
Consider this example: You earn $5,000 in your first month.
- FTMO: You receive $4,000 (80%) within 8 hours of your bi-weekly payout date
- Apex: You receive $1,000-$2,500 (capped), with the rest locked behind future payout cycles
Winner: Depends on time horizon. FTMO delivers more cash upfront. Apex's 100% wins over many months once caps loosen.
The 20-Account Advantage
One feature unique to Apex is the ability to run up to 20 funded accounts simultaneously. At $15-$29 per account during sales, some traders buy 10-20 evaluations and run them in parallel. If even a few pass, the combined funded capital far exceeds what a single FTMO account offers.
FTMO doesn't allow this approach. You work with one account at a time and scale it through performance milestones.
Whether the multi-account strategy appeals to you depends on your trading style. It suits traders who can manage several positions across accounts. It doesn't suit traders who prefer focusing on a single account.
Trust and Track Record
FTMO is the most documented prop firm in existence. Ten years, $200M+ in verified payouts, 40,000+ Trustpilot reviews at 4.8/5, transparent Czech Republic operations, named leadership. If any prop firm is trustworthy, it's FTMO.
Apex reports $721M+ in total payouts, which would be the highest figure in futures prop trading. The 4.4/5 Trustpilot from 17,860+ reviews is solid. But the firm is younger, and the frequent rule changes (most recently March 2026) require traders to stay current on terms.
Both firms are legitimate. FTMO has a longer track record of operational consistency. Apex has changed its rules more frequently, which can be either positive (improvements) or negative (uncertainty), depending on your perspective.
Winner: FTMO for consistency and longevity. Apex for reported payout volume.
Who Should Choose FTMO?
- Forex and CFD traders
- Traders who want static drawdown rules (the most forgiving model)
- Traders who value rule consistency over time
- Traders who prefer their evaluation fee refunded
- Traders who want cTrader for algorithmic strategies
- Traders focused on a single high-quality funded account
Read our full FTMO review.
Who Should Choose Apex Trader Funding?
- Futures traders (ES, NQ, crude oil, etc.)
- Budget-conscious traders who want the cheapest entry point
- Traders who want to run multiple accounts simultaneously
- Traders who like simplified evaluation rules
- US traders who prefer futures over restricted CFDs
- Traders comfortable with real-time trailing drawdown
Read our full Apex Trader Funding review.
FAQ
Is FTMO or Apex Trader Funding cheaper?
Apex at $15-$29 during sales is far cheaper upfront. But FTMO refunds its fee (€89-€1,080) with your first payout, making it effectively free for successful traders.
Which has a better profit split?
Apex offers 100% of approved rewards. FTMO offers 80-90%. But Apex's initial payout caps limit early withdrawals.
Can I trade forex on Apex?
No. Apex only offers CME futures. For forex, choose FTMO or another CFD prop firm from our best CFD prop firms ranking.
Which drawdown system is harder?
Apex's real-time trailing drawdown is stricter. Your floor moves up with every equity peak. FTMO's static drawdown stays fixed at the starting level.
Which has paid out more money total?
Apex claims $721M+. FTMO claims $200M+. Both figures are self-reported.
Can US traders use both?
Yes. Both accept US traders. FTMO's CFD instrument access may be limited for US residents, while Apex's futures are fully accessible.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Trading involves risk of loss.