Apex Trader Funding is one of the most popular futures prop firms globally, with over $721 million in reported payouts, 4.2 million monthly website visitors, and a 4.4/5 Trustpilot rating from 17,860+ reviews. A major rule overhaul on March 1, 2026 (Version 4.0) eliminated six restrictive rules and introduced one-time payment pricing, making evaluations significantly more accessible.
TL;DR: Apex is the volume king of futures prop trading. The March 2026 overhaul removed minimum trading days, MAE limits, and the one-direction rule, making evaluations far more accessible. But the trailing drawdown follows your equity high and never resets, which is the real challenge. Constant 80-90% off sales make it dirt cheap to try. Best for futures traders who want low-cost access and can manage a trailing drawdown.
How Apex Trader Funding Works
Apex uses a one-step evaluation. Hit the profit target without breaching the trailing drawdown, and you move to a Performance Account (PA). As of March 2026, you can pass in a single day, as the minimum trading day requirement was completely eliminated.
The March 2026 Version 4.0 changes were the biggest overhaul in the firm's history:
- Removed Maximum Adverse Excursion (MAE) limit
- Removed 5:1 Risk-Reward ratio requirement
- Removed one-direction trading restriction
- Removed 7-day minimum trading days
- Relaxed the consistency rule from 30% to 50%
- Reduced qualifying days for payouts from 7 to 5
- Switched to one-time payment pricing (no more recurring monthly fees)
- Automated payouts via Deel (24-48 hour processing)
These changes make Apex's evaluation the simplest in the industry. Hit the target, don't breach the drawdown. That's it.
Account Types & Pricing
| Account Size | Profit Target | Regular Price | Sale Price (80-90% off) | Trailing Drawdown |
|---|---|---|---|---|
| $25,000 | $1,500 | $147 | $15-$29 | $1,500 |
| $50,000 | $3,000 | ~$167 | ~$17-$33 | $2,500 |
| $100,000 | $6,000 | ~$207 | ~$21-$41 | $3,000 |
| $250,000 | $15,000 | ~$317 | ~$32-$63 | $6,500 |
| $300,000 | $20,000 | ~$347 | ~$35-$69 | $7,500 |
Apex runs 80-90% off sales almost every week. The regular prices are rarely what anyone pays. At $15-$29 for a $25K account during sales, Apex is the cheapest entry point in futures prop trading by a wide margin. Leeloo Trading at $26/month and Topstep at $49/month can't match these sale prices.
Free NinjaTrader license and real-time data fees are included with every account. Tradovate, TradingView, and other platforms are also free to connect.
The switch to one-time payments is significant. Previously, you'd pay monthly until passing. Now you pay once and have 365 calendar days to pass (with extensions available). If you pass in a day, you've spent $15. If you take six months, you've still only spent $15.
Trading Rules & Conditions
Post-March 2026, the rules are stripped down:
- Profit target: Varies by account size ($1,500 for 25K to $20,000 for 300K)
- Trailing drawdown: Follows equity high in real-time, never resets
- Daily loss limit: None during evaluation
- Minimum trading days: None (can pass in 1 day)
- Consistency rule: None during evaluation (50% applies during PA phase for payouts)
- Max contract size: Varies by account
- Up to 20 accounts allowed simultaneously
- News trading: Permitted
- Evaluation duration: 365 calendar days
The trailing drawdown is the critical rule and the single biggest reason traders fail at Apex. It follows your equity high in real-time. If your account peaks at +$2,000 unrealised profit, your drawdown level permanently adjusts up by $2,000. A pullback to flat could blow your account even though you haven't lost money from your starting balance.
Here's a concrete example on a $50K account with $2,500 trailing drawdown:
- Starting floor: $47,500
- You go long ES and hit +$2,000 unrealised. Floor moves to $49,500.
- Price pulls back. You close at +$500. Account is $50,500.
- Your floor is now $49,500. You only have $1,000 of room, not $3,000.
Compare this to Topstep or My Funded Futures, which use EOD trailing drawdowns. At those firms, your intraday $2,000 peak wouldn't have moved the floor at all (unless you closed the day at that level). The difference is huge in practice.
Payout Structure & Methods
The Version 4.0 payout structure works on a ladder system across six payouts:
- Profit split: 100% of approved rewards
- Qualifying days: 5 profitable trading days per payout request
- Consistency rule: No single day > 50% of net profit since last approved payout
- Processing: Automated via Deel, 24-48 hours
- PA lifetime: 6 payouts maximum per Performance Account
Payout ladder (approximate, varies by account size):
| Payout # | Cap Range | Cumulative Max (50K PA) |
|---|---|---|
| 1 | $1,000-$2,500 | ~$2,500 |
| 2 | $1,500-$3,000 | ~$5,500 |
| 3 | $2,000-$3,500 | ~$9,000 |
| 4 | $2,000-$4,000 | ~$13,000 |
| 5 | $2,500-$4,500 | ~$17,500 |
| 6+ | No cap | Unlimited |
After your sixth payout, caps are removed entirely. A 50K PA can extract roughly $14,500 across the first six payouts. After that, no limits on withdrawal amounts.
The 50% consistency rule only applies during the PA phase when requesting payouts. No single profitable day can account for 50% or more of your net profit since your last approved payout. This was relaxed from 30% in the March 2026 update, making it significantly easier to qualify.
Platform & Tools
Apex supports multiple futures platforms:
- NinjaTrader (free license included)
- Tradovate (web and desktop)
- TradingView (charting with order execution)
- Rithmic (for direct market access)
- Other compatible front-ends
The free NinjaTrader license is a real perk. NinjaTrader's annual license normally costs $99+. Apex includes it for every account. Real-time CME data is also included, saving you the $15-$30/month you'd pay for market data through other providers.
Apex's trader dashboard shows your account metrics, trailing drawdown level, profit target progress, and payout eligibility in real time. It's functional but basic compared to FTMO's performance analytics suite.
The 20-Account Strategy
Apex allows up to 20 simultaneous evaluation and Performance Accounts. At $15-$29 per account during sales, some traders buy 10-20 evaluations and trade them in parallel. The logic: if even two or three accounts pass, the combined funded capital is substantial.
This approach is unique to Apex. Most firms limit you to one or two active accounts. Whether it makes sense depends on your trading style. Managing multiple accounts adds complexity, but the math works if your pass rate is even modestly positive. Ten accounts at $20 each = $200 total. If three pass and each generates $5,000 in payouts, the return on investment is significant.
What We Like
- $721M+ in reported payouts is the highest in futures prop trading
- Near-weekly 80-90% off sales make it extremely cheap to start
- One-day evaluation with no minimum trading days
- Free NinjaTrader license and data fees included
- 20 simultaneous accounts allowed
- 100% of approved rewards with no profit split taken
- One-time pricing eliminates recurring subscription costs
- 50% consistency rule (relaxed from 30%) is more achievable
What Could Be Better
- Trailing drawdown never resets, punishing strong intraday moves
- Initial payout caps of $1,000-$2,500 limit early withdrawals
- 6 payouts per PA before the account closes (need a new evaluation after)
- Rule changes happen frequently, requiring constant attention to current terms
- Heavy discounting raises questions about long-term business model sustainability
- No educational resources unlike Topstep's coaching ecosystem
- No EOD drawdown option, which puts it at a disadvantage vs newer competitors
Apex Trader Funding vs Competitors
Against Topstep, Apex is dramatically cheaper and has simpler rules, but lacks education and uses a less forgiving drawdown type. See our Topstep vs Apex Trader Funding comparison.
Against My Funded Futures, Apex has more aggressive pricing while MFFU offers faster payouts (minutes vs 24-48 hours) and an EOD drawdown option.
Against FTMO, these are entirely different markets (futures vs forex/CFD). See our FTMO vs Apex Trader Funding comparison for traders deciding between asset classes.
Against Tradeify, Apex has bigger discount sales and the 20-account option, while Tradeify offers free evaluations and one-time pricing as standard (not just during sales).
Is Apex Trader Funding Legit?
Yes. The $721M+ in reported payouts, 4.4/5 Trustpilot from 17,860+ reviews, and years of continuous operation confirm legitimacy. The volume of community payout evidence across forums, YouTube, and social media is overwhelming.
The main concern isn't legitimacy but rule stability. Apex has changed its rules several times in the past two years (most recently the March 2026 V4.0 overhaul). While recent changes have generally favoured traders, the pace of change means you need to stay current on terms. Read the rules before every evaluation purchase, not just the first one.
The aggressive discount model also draws questions. How does a firm sustain 80-90% off sales nearly every week? The answer is volume. At millions of monthly visitors and thousands of active evaluations, even deeply discounted prices generate significant revenue. And not every trader passes or withdraws the maximum.
Final Verdict
Rating: 3.9/5
Apex Trader Funding is the most accessible futures prop firm. The perpetual sales, simplified rules, and one-day evaluation make it the lowest-barrier entry point in the industry. The 20-account capability is unique and valuable for certain strategies.
The trailing drawdown is the real challenge. It's the strictest major drawdown type in our top 10 futures firms, and it's the primary reason traders fail at Apex despite the otherwise simple rules. If you can manage a trailing drawdown, Apex is an excellent value. If trailing drawdowns frustrate you, look at My Funded Futures or Alpha Futures with their EOD alternatives.
FAQ
Is Apex Trader Funding legit?
Yes. $721M+ in reported payouts, 4.4/5 Trustpilot from 17,860+ reviews, and years of continuous operation.
How much does Apex Trader Funding cost?
Regular prices from $147, but 80-90% off sales (nearly every week) bring prices to $15-$69 as one-time payments.
What is Apex Trader Funding's profit split?
100% of approved payout rewards. Initial caps of $1,000-$2,500 per payout increase over six payouts, then uncapped.
Can I use Apex in the US?
Yes. Apex is one of the most popular firms among US futures traders.
How fast are Apex payouts?
Automated via Deel, processed within 24-48 hours after meeting 5 profitable qualifying days.
What's the biggest challenge with Apex?
The real-time trailing drawdown that follows your equity high and never resets. A strong intraday move followed by a pullback can end your account even if you close the day profitable.
How many accounts can I have?
Up to 20 simultaneous evaluation and Performance Accounts.
What changed in March 2026?
Version 4.0 removed MAE limits, minimum trading days, one-direction rules, and switched to one-time pricing. Consistency rule relaxed from 30% to 50%. Payouts automated via Deel.
Disclaimer: This review is for informational purposes only and does not constitute financial advice. Trading involves risk of loss.