Apex Trader Funding Review
One main thing that limits so many traders is the lack of capital. In fact, you can be such a great trader but struggle to fully scale your account simply because you don’t have the capital to do so. Well, this is where the idea of using a funding program comes in. Companies like Apex trader funding can help you build up and hit your profit target by giving you the capital you need to scale and grow.
Also known as prop firms, these organizations are typically run by traders and will often target talented folks who just need that extra bit of empowerment to reach their goals. Well, this Apex trader funding review will briefly introduce the prop firm, how it works, and some of the multiple accounts you can use to achieve your trading goals.
You will also see how Apex Trader compares with other trading firms, how much it charges in fees, details about customer support, and additional extra information as well.
|Asia Forex Mentor Evaluation Criteria|
Before we get to the full Apex trader funding review, we wanted to highlight briefly some of the factors we look for when reviewing these companies. The team at Asia Forex Mentor looks at five key attributes. Here they are:
Trading Mechanisms: Trading firms typically have unique trading mechanisms. These mechanisms determine how easy or hard it will be to work with the prop firm. The easier it is, the better.
Realistic Trading Challenges: Futures trading using funded accounts comes with a lot of conditions. It is, therefore, essential to understand carefully how these conditions may affect your multiple trading accounts and news trading strategies.
Security of Funds and Data - It is also crucial to ensure that the prop firm can protect your profits and your personal data. As such, we will always analyze the security measures put in place by the trading firm to see how this works.
Customer Assistance - Customer support is often the basis of usability for any prop firm. As such, we are genuinely interested in how fast the support team responds to customer queries and how conversant the reps are with clients.
Ease Payouts - The main goal of apex trader funding inc is to give you the capital to scale your trading. It is therefore helpful to know that the firm will payout your profits in full and on time.
Profit Split: Since the funding companies will fund your evaluation account, they are entitled to a share of your profits. However, this doesn't mean that the firm should take all the money even in minimum trading days. A reasonable profit split is therefore highly prioritized when analyzing these firms.
What is Apex Trader Funding?
Apex trader funding inc is more of a prop firm founded to help empower trades worldwide. The firm allows you to open evaluation accounts, a master account, and as many accounts as you would want to get funding for your trading.
Apex has been in business for the last few years. It brings together some of the most talented traders in the world. It features simple evaluation rules, apex investing, a free license from ninjatrader, trade copier software, and the ability to trade a wide range of assets.
Since the firm started offering live accounts as part of its service, Apex has signed up over 30,000 professional traders spread across 150 countries. The ultimate vision for Apex funding is to basically remove as many trading barriers as possible for the pro traders out there. They open the doors so that you can put your trading talents into proper use in the long term.
Advantages and Disadvantages of Trading with Apex Trader Funding
If you want to use Apex to trade and hit your profit goal, there are certain advantages and disadvantages to expect. Here is an explanation of each:
Benefits of Trading with Apex Trader Funding
There are, of course, many trader funding programs out there, each with something to offer. But what actually makes Apex such a unique option for top trading talent? Here are some benefits:
Huge Funding Potential
If starting capital is your biggest problem when it comes to trading, then perhaps you shouldn’t worry that much. Apex offers funding from as low as $25,000 to as high as $300,000. Even though some firms can offer up to $1 million, the fact that you start at $25,000 at the very start is a big deal. It means that you can be able to scale your trading, enter large positions, and hit your profit target with ease.
Excellent Trader Support
Apex Funding is not just about providing the money. In fact, the firm focuses on a broader strategy of empowering users so that they can trade as effectively as possible. This means that you will get the training and the onboarding you need to excel as a trader. But that’s not all. There is also real-time data on some of the assets tradable here, including soybean oil commodity futures, live cattle futures, and so much more.
Relatively Better Trading Conditions
Apex also tries to give its traders as much autonomy as possible. Although there is a total cap on the contract size you can go for, some other trading aspects are very flexible. For example, you don’t have to trade on business days only. In fact, you can place trades during the holidays and monitor the multi-directional market from different perspectives. The firm also has very simple rules, including a very straightforward way to get your ninjatrader license.
Proven Pedigree in The Market
It is also worth noting that Apex has managed to build a very strong following in terms of its user base. When writing this post, the firm managed to get well over 30,000 traders from around 150 countries. This gives it the global reach it needs to help as many traders as possible. But that’s not all. In 2022 alone, the firm distributed well over $8 million in payouts as well. This demonstrates a strong reputation for empowering traders to succeed under the program.
Apex Trader Funding Pros and Cons
This Apex trader funding program has its pros and cons. This review won’t be complete without highlighting some of these. So, here they are:
- Offers no-questions funding through a series of trading challenges for the most talented traders.
- Excellent tech support, including the provision of research and real-time data for trading.
- Very fast payout once the profit target is reached.
- You also get a full suite of advanced trading indicators and tools to make your work a bit easier
- The trading program is highly technical and may not work for people who are not expert traders.
- You only get a maximum of ten days to hit your profit targets which can be very short in modern-day trading.
- There are limited trading hours too, and all pending orders will be automatically closed if they stay open outside these hours.
Difficulties Met By The Traders Who Participated in The Brokers Challenge
For all its incredible features, trading with this Apex program has its fair share of serious challenges. First, you only get ten days to hit your profit target. Although the target is determined by the account or contest you are participating in, it ranges from between 8-10%. This is very hard to achieve in less than ten days without taking bigger risks.
How to Overcome This Problem
The best way to overcome this is to diversify your trading. While futures are decent in making steady returns, you can also expand to Options if possible. Try and also diversify your asset pool to be able to get some exposure to fast-moving assets.
High Monthly Costs
The cost of entering the Apex trading program can range from as low as $137 a month to as high as $675. If you are consistently returning 10% on capital every ten days, this may seem like nothing. But no trader is always 100% correct, and sometimes the markets can have a mind of their own. It can therefore be challenging to fund your subscriptions.
How to Overcome This
Focusing on long-term plans would be better than just paying monthly. For example, you can take a three-month subscription. This ensures that even if you have bad months, you still have enough time to cover your loss and break even before your subscription expires.
High Daily Drawdown Range
The daily drawdown often depends on the account type. However, it starts from as little as 2% of the total capital and can rise up to 5%. The challenge with this is that you have very little room for maneuvering if the price action starts to move against you.
How Do You Overcome This
Well, to take care of this, the best way is to limit trade volume and reduce the size of your positions. This means that your losses are within the daily drawdown range, even if the market somehow shoots in the opposite direction.
Apex Trader Funding Customer Reviews
The reviews that we have seen for Apex are mixed in some ways. However, we have not seen any complaints about the company’s general approach in its trading program and contests. Most users seem to be very appreciative of the amazing trading environment offered here and the potential to grow and unlock even higher funding limits.
The legitimacy of the firm has also not been questioned. Although each trade carries risk, Apex seems to do everything possible to make it easier for you to excel. But even with that, we have seen some complaints about customer support.
One user, in fact, pointed out that some of the folks who work for the support department don’t seem to really understand how the Apex program works and what it entails. There were even complaints that some of the responses from the support team were just too generic. This is one area Apex needs to do better.
Apex Trader Funding Fees and Commissions
The fees and commissions charged by Apex will depend on the trading program you have joined. However, the starter $25k program will require a monthly cost of $137. The $300k program, which is at the peak of the crop, will need users to pay around $675 each month.
In terms of the commissions, Apex uses a profit split of 90-10. This means that you will get 90% of all the profits you generate while the firm will get the other 10%. Please also note that for the first $25,000 in profit, you will actually keep 100%. The 90-1o profit split is one of the best in the market, and it speaks volumes about the efforts Apex has put in place to empower traders.
The Apex trader funding program is a broad-based initiative that features up to 8 programs. The difference is mainly based on the amount of capital available for trading. Here is a breakdown of these eight options:
$25k Full Plan – This plan will give you access to $25,000 worth of capital to trade. The profit target that needs to be hit within ten days is $1500. The trailing drawdown threshold, on the other hand, is also $1500
$50K Full Plan – This plan comes with a monthly fee of $167. However, you will get $50k to trade with a profit target of $3000. On the other hand, the daily drawdown is around $2500, which is decent compared to other trading firms.
$75K Full Plan – The ten-day profit target for this plan is $4250 with a drawdown of $2750. Just like the $50K plan, you will pay a monthly fee, which in this case is around $187. You will also, in the end, get a sizable account of $75,000 to trade.
$100K Full Plan – The profit goal when you get the $100K account is $6000 with a drawdown of $3000. The monthly fee to get into this program is $137.
$100K Static Plan – This would be a good option if you are looking for a variation of the $100k full plan. The biggest difference is in the drawdown. While the full plan features a drawdown of $3000, the static plan is about $625.
$150k Full Plan – This plan, as you can probably see, will offer you $150,000 to trade. You will, however, need to return a profit of $9000 in the ten days you are given. The drawdown is at $5000, but you will need a monthly fee of around $297.
$250K Full Plan: The $250K plan has a profit target of $15,000. The drawdown for this account is $6500, but you must pay a monthly fee of $517 to access the $250k in the capital.
$300k Full Plan – The $300K plan is the highest in terms of the capital on offer. The profit target for folks who join this program is $20,000, while the drawdown is $7500. This is also the most expensive plan, with a monthly charge of $657.
How To Open Your Account?
If you are considering joining Apex’s trader program, you can follow a few simple steps. First, go to the main official website of Apex trading. You will see the Sign-Up options on the top left corner of the screen next to the “Log In” button. Just click it and follow the prompts.
Apex will ask for a few personal details to open your account and some verifications. After this is done, the next step would be choosing the account sizes you want. For a beginner, it would be ideal to select a smaller account as you familiarize yourself with the system. You can then gradually increase your account size over time. Setting up your trading account with Apex takes just a few hours.
What Can You Trade on Apex Trader Funding
Apex does not limit what you trade. Yes, there are some trading conditions that must be met here, but this does not mean the type of assets is limited. Nonetheless, a majority of folks will typically use these accounts to trade futures.
These are basically financial derivatives whose value is underpinned by the price action of an underlying asset. You can trade futures on stocks, commodities, interest rates, forex pairs, and a wide range of other assets. The most important thing is to understand the risk involved and how to avert it.
Apex Trader Funding Customer Support
Trading the markets with a prop firm involves a series of rules. As such, it is important to know that there is a robust support team to help you in case you run into issues. Well, the Apex team has invested considerably in the support department.
There is a strong team with state-of-the-art equipment to help you with everything you need. However, based on the reviews we have seen on the support team, there is still room to do more. Most users seem to suggest that the support reps working here don’t have any clue about how the firm works, and the response they give tends to be so generic.
Advantages and Disadvantages of Apex Trader Funding Customer Support
Based on the reviews we have seen, here is an explanation of some of the advantages and disadvantages of the Apex support team:
Security For Investors
Security is also a big priority for most users who decide to work with funded trading programs. Here are some of the pros and cons when it comes to Apex trading security:
Withdrawal Options and Fees
The folks at Apex trader funding will, of course, give users several different ways to make withdrawals. You can do this through credit and debit cards, bank accounts, and through your crypto wallet. Apex is one of the few firms that offer payments in stablecoins.
But in addition to this, you can use electronic online payment methods like Skrill and others. Please also note that withdrawal fees are not applied at any point. But you may pay some bank fees, especially if some currency conversions are needed.
What makes Apex Trader Funding Different from other Prop Firms
There are several factors that make Apex trading stand out. For starters, the firm offers huge capital potential. You can start from as low as $25,000 and hit $300,000 in no time. In addition to this, you will also be able to get extra support to help you succeed.
This includes free live data and a free license from NinjaTrader. There is also a lot of additional technical analysis as well. The firm has also done quite well to offer simple trading rules, rewarding trading conditions, and a profit split that allows the trader to keep most of the money they make.
Conclusion: Apex Trader Funding Review
Many prop firms out there will give you the money you need to scale your trading. But finding one that is suited to the needs of the modern-day trader is often easier said than done. This is why Apex Trader funding comes in. The firm has a proven track record of supporting talented traders and has access to a huge pool of capital to help you.
The firm is also built by traders and for traders, making it a decent choice for anyone. The trading rules are simple, and you get a lot of flexibility to manage your risk in the best way possible.
But despite this, there are some issues too with the firm. Customer support, for example, needs to do better, and besides, the monthly fee for these various account types seems oddly high. But with everything said and done, this is a decent funding program for the best traders out there.
Apex Trader Funding Review FAQs
Is Apex Trader Funding regulated?
Not really, but it doesn’t have to. This is not a broker but more of a trading support firm that helps you scale with extra capital.
Is Apex Trader Funding legit?
Yes, the firm paid over $8 million in profits in 2022 alone. It is as legit as they come and should be a good pick for you.