Apex Trader Funding Review

Rules

Drawdown / Max Loss

Account Types

Apex offers two current evaluation and PA paths: EOD Trailing Drawdown and Intraday Trailing Drawdown. Legacy accounts use a different trailing drawdown structure.

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EOD Trailing Drawdown (Evaluation and Performance Account)

The EOD drawdown is calculated once per trading day at market close (4:59:59 PM ET). It trails the highest end-of-day account balance achieved. Once calculated, the threshold is fixed for the entire next trading session but is enforced in real time throughout that session. The threshold never moves downward on losing days.

Maximum drawdown amounts by account size (applies to both EOD Evaluation and EOD Performance Account):

Account Size	Max EOD Drawdown
$25K	$1,000
$50K	$2,000
$100K	$3,000
$150K	$4,000

How the EOD threshold stops trailing:

• Performance Accounts: Trailing stops permanently once the EOD threshold reaches Starting Balance + $100 (e.g., $50,100 on a $50K PA). This occurs when the highest EOD balance reaches Starting Balance + Max Drawdown + $100.
• Rithmic and WealthCharts Evaluations: Trailing stops when the threshold reaches the profit target balance (e.g., $53,000 on a $50K account). Occurs when the highest EOD balance closes above the profit target balance + the drawdown amount.
• Tradovate Evaluations: The EOD drawdown trails indefinitely with the peak EOD balance; it does not lock.

Consequence of breaching the EOD threshold:

• Evaluation: All open positions auto-liquidate immediately; the evaluation is permanently failed.
• Performance Account: All open positions auto-liquidate immediately; the PA is permanently closed.

Hitting the EOD threshold does not simply pause trading for the day. It terminates the account.

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Daily Loss Limit (DLL): EOD Accounts Only

The DLL is a separate intraday control that applies only to EOD accounts. It is a fixed dollar amount that does not trail intraday. If the DLL is reached at any point during the session, all open positions auto-liquidate and trading pauses for the remainder of that day. The account remains active and resets at the next session open (6:00 PM ET). Hitting the DLL does not fail or close the account.

The DLL is calculated against total account equity including both realized and unrealized losses.

DLL during Evaluation (EOD only. Intraday evaluations have no DLL):

Account Size	Daily Loss Limit
$25K	$500
$50K	$1,000
$100K	$1,500
$150K	$2,000

DLL during Performance Accounts (EOD and Intraday):

The DLL scales with the account tier. Tier levels are updated once per day before the session opens, based on the end-of-day closing balance of the prior full trading session.

$25K Performance Account:

Profit Range	Max Contracts	Daily Loss Limit	Tier
$0 – $999	1	$500	Level 1
$1,000 – $1,999	2	$500	Level 2
$2,000 and up	2	$1,250	Level 3

$50K Performance Account:

Profit Range	Max Contracts	Daily Loss Limit	Tier
$0 – $1,499	2	$1,000	Level 1
$1,500 – $2,999	3	$1,000	Level 2
$3,000 – $5,999	4	$2,000	Level 3
$6,000 and up	4	$3,000	Level 4

$100K Performance Account:

Profit Range	Max Contracts	Daily Loss Limit	Tier
$0 – $1,999	3	$1,750	Level 1
$2,000 – $2,999	4	$1,750	Level 2
$3,000 – $4,999	5	$1,750	Level 3
$5,000 – $9,999	6	$2,500	Level 4
$10,000 and up	6	$3,500	Level 5

$150K Performance Account:

Profit Range	Max Contracts	Daily Loss Limit	Tier
$0 – $1,999	4	$2,500	Level 1
$2,000 – $2,999	5	$2,500	Level 2
$3,000 – $4,999	7	$2,500	Level 3
$5,000 – $9,999	10	$3,000	Level 4
$10,000 and up	10	$4,000	Level 5

If the account balance drops below a tier threshold at end of day, the account moves down to the corresponding lower tier for the next session. If balance drops below Level 1, the account stays at Level 1, limits do not decrease further. Tier levels never change during a live trading session.

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Intraday Trailing Drawdown (Evaluation and Performance Account)

The intraday trailing drawdown follows the account’s Peak Balance in real time throughout the trading session, including unrealized gains. As a new peak is reached, the threshold moves up immediately, no trade needs to close. The threshold never moves downward.

Maximum intraday trailing drawdown amounts by account size:

Account Size	Max Intraday Trailing Drawdown
$25K	$1,000
$50K	$2,000
$100K	$3,000
$150K	$4,000

How the intraday trailing threshold stops trailing:

• Performance Accounts: Trailing stops permanently once the threshold reaches Starting Balance + $100 (e.g., $50,100 on a $50K PA). Occurs when the highest balance (realized or unrealized) reaches Starting Balance + Max Drawdown + $100.
• Rithmic and WealthCharts Evaluations: Trailing stops when the threshold reaches the profit target balance. Occurs when the highest balance reaches profit target balance + the max drawdown amount.
• Tradovate Evaluations: The intraday trailing drawdown continues indefinitely with the peak balance; it does not lock.

Consequence of breaching the intraday trailing threshold:

• Evaluation: All open positions auto-liquidate immediately; the evaluation is permanently failed.
• Performance Account: All open positions auto-liquidate immediately; the PA is permanently closed.

Because liquidation occurs at market price, the final filled balance may be slightly above or below the threshold depending on liquidity and market conditions at execution. This does not change the outcome, once touched, the account is considered breached.

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Consistency Rule

The 50% consistency requirement applies to Performance Accounts at the point of requesting a payout. It does not apply during the Evaluation stage.

How it works: Your single largest profitable trading day since your last approved payout (or since account inception if no payout has been made) must represent less than 50% of your total net profit over that same period.

Calculation: Highest Profit Day ÷ Total Net Profit since last approved payout = Consistency Percentage. The result must be below 50%.

Easy calculation method: Highest Profit Day ÷ 0.5 = Minimum net profit required. Example: If your highest profit day is $1,500, your total net profit must be at least $3,000 before the payout option becomes available.

Losing days affect the calculation. Net profit (not gross) is used. If you make $1,000 on Day 1 and lose $200 on Day 2, your net profit is $800 and your consistency ratio is $1,000 ÷ $800 = 125%. You would need to continue trading until the ratio falls below 50%.

What happens if the consistency requirement is not met: The payout request option is unavailable. The account remains fully active. There is no time limit and no account penalty, you simply continue trading until the threshold is met.

Reset: Once a payout is approved, the consistency calculation resets. Only profits earned after the last approved payout count toward the next request.

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Leverage

Evaluation Accounts (Both EOD and Intraday)

Position limits are fixed throughout the entire evaluation period. They do not change based on balance or performance. Limits apply to total open exposure across all instruments combined.

Account Balance	Max E-mini Contracts	Max Micro Contracts
$25K	4	40
$50K	6	60
$100K	8	80
$150K	12	120

Ten (10) micro contracts equal one (1) standard contract. Micro exposure is calculated using this equivalency and counts toward the standard contract limit. For example, 2 ES contracts and 4 NQ contracts totals 6 contracts and would reach the $50K limit. Mixing micros and standards is permitted as long as total exposure does not exceed the maximum contract size.

If an order exceeds the maximum allowable position size, it is automatically rejected. The rejected order does not execute and does not constitute a rule violation, it will not fail the account.

Performance Accounts (Both EOD and Intraday)

Position size follows a tier-based scaling system. Maximum contracts and daily loss limits are assigned daily based on end-of-day balance (see Drawdown / Max Loss section for full tier tables). Traders do not start at the maximum immediately, they begin at Level 1 and scale up as the account grows.

Maximum contracts at the highest tier by account size:

Account Balance	Max E-mini Contracts (Max Tier)	Max Micro Contracts (Max Tier)
$25K	2	20
$50K	4	40
$100K	6	60
$150K	10	100

Ten (10) micro contracts equal one (1) standard contract. The same equivalency and combined exposure rule applies as in the Evaluation.

If an order would cause total exposure to exceed the maximum for the current tier, it is automatically rejected. No penalty or account violation results.

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Trading Hours

Session open and close: The trading day at Apex runs from 6:00 PM ET to 4:59 PM ET the following day. The DLL and EOD drawdown both reset at 6:00 PM ET.

Position close requirement: All open positions must be closed and all pending orders must be cancelled before 4:59 PM ET. Holding positions through the market close is prohibited conduct and will result in account forfeiture.

Apex operates an auto-liquidation safeguard that will attempt to close open positions and cancel pending orders attached to a position at 4:59 PM ET. This is a failsafe, not a substitute for the trader closing their own positions. Orders not attached to a position are not covered by this safeguard and must be manually cancelled. Relying on the auto-close feature carries risk of gaps affecting the drawdown threshold.

Overnight and weekend positions: Not permitted. All positions must be flat by 4:59 PM ET each day.

Sundays: Trading on Sunday counts as part of Monday’s trading day. A trading day is defined as 6:00 PM ET one day until 4:59 PM ET the next day.

Holidays and half-day sessions: Trading on holidays is permitted if the market is open. Half-day holidays do not count as a full trading day. During early holiday closures, positions must be closed at the market’s earlier designated close time, not at 4:59 PM ET.

News trading: Normal directional trading around news events is permitted. Placing orders on both sides of the market to “gamble” the outcome of a news event is prohibited.

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Multiple Accounts

Evaluations: No explicit limit on the number of simultaneous evaluation accounts is stated. However, purchasing multiple discounted evaluation accounts with the intention of cycling through them and intentionally blowing them up to pursue windfall profits is a prohibited activity.

Performance Accounts: Traders may hold up to 20 PAs active simultaneously. This cap applies across all PA account types combined, Legacy, EOD, and Intraday Trailing Drawdown.

Account credentials: All accounts are held under a single user profile and use the same login credentials. Creating multiple user accounts is prohibited and is a bannable offense.

Trade copiers and copy trading: Sharing MAC addresses, computers, IP addresses, credit cards, or trade copying with other traders is strictly prohibited. Violations result in immediate account closure and forfeiture of funds. Apex reserves the right to conduct additional verification audits.

Household and associated parties: Creating additional accounts within a household or among associated parties to circumvent account provisions (such as an evaluation restriction or trader probation) is prohibited.

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Prohibited Conduct

All of the following are prohibited at Apex Trader Funding:

Account and identity:

• Sharing account credentials with any other person
• Allowing any individual other than the registered account owner to access or complete account verification
• Submitting false or misleading identity documents or personal information
• Creating multiple user accounts (bannable offense)
• Creating additional accounts in a household or through associated parties to circumvent account restrictions

Financial and payment:

• Using a bank card, debit card, or credit card not registered in your own name for payments
• Requesting payouts to a bank account not held in your own name
• Initiating chargebacks, disputes, or refund requests in bad faith

Trading conduct:

• Hedging: holding both long and short positions simultaneously on the same or correlated instruments is strictly prohibited. Directional trading only.
• Hedging evaluation accounts against each other to pass: evaluations must be completed using independent, directional trading
• Using the account’s trailing threshold as a stop-loss mechanism (i.e., allowing the account to absorb full drawdown to the threshold)
• Trading without stop losses or a defined risk management strategy
• High-risk strategies with disproportionate reward-to-risk ratios (e.g., 5-tick profit target with a 150-tick stop loss)
• Non-directional bracket trading, where orders are left open on both sides of the market
• High-frequency trading (HFT) or any strategy that exploits the simulation environment for erroneous fills
• Automation or algorithmic trading of any kind. Payouts are intended for human traders actively engaged in the learning process, not automated systems
• Unsustainable trading strategies that do not demonstrate consistent growth
• Deviating from strategies and risk management techniques a trader would use in a personally funded account at a registered broker
• Holding open positions through market close (4:59 PM ET)

Technology and access:

• Using VPNs, proxy servers, cloud servers, anonymizing tools, or other methods to misrepresent, conceal, or disguise identity, device, or location
• Manipulating company systems, documents, trade logs, or communications
• Impersonating company staff
• Sharing MAC addresses, computers, IP addresses, or trade copying tools with other traders

Consequences: Violations result in immediate account closure, forfeiture of all associated balances, and potential additional verification or audits. Multiple instances of rule violations across accounts may result in probation, which requires strict adherence to all trading rules for a defined period before normal account status is restored.

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Firm Rules (General)

Minimum trading days:

• EOD Evaluation: No minimum trading days required. The evaluation can be passed as soon as the profit target is reached, subject to all rules being followed. The 30-day access period begins at purchase.
• Intraday Evaluation: No minimum trading days required. Same as above.
• Legacy Evaluation: Minimum of 7 trading days (non-consecutive) required to pass. Promotions may reduce this to a 1-day pass.
• Performance Accounts (for payout eligibility): Minimum 5 qualifying trading days since last payout (days do not need to be consecutive).

Access period: Both EOD and Intraday Evaluations provide 30 consecutive calendar days of access from the date of purchase. The 30 days run continuously including weekends and holidays. The evaluation expires automatically at 11:59 PM ET on Day 30. There are no extensions.

Profit targets by account size (EOD and Intraday Evaluations):

Account Size	Profit Target
$25K	$1,500
$50K	$3,000
$100K	$6,000
$150K	$9,000

Reset fees: There are no reset fees for EOD or Intraday Evaluation accounts. If an evaluation fails, the only option is to purchase a new evaluation. Legacy evaluations have a separate reset fee structure that allows the account to be reset to its original starting balance.

Permitted asset classes: Futures contracts. The file references ES, NQ, MES, MNQ, CL, GC, RTY (M2K in micro form), YM/MYM, and a range of other CME-listed futures. Forex pairs are available in micro form (M6A, M6E) under Legacy accounts. Specific symbol availability varies by platform.

Available platforms: Rithmic (R|Trader Pro), Tradovate, and WealthCharts. NinjaTrader is available for Legacy accounts.

Prohibited instruments: Crypto futures are not mentioned as available. The account type is simulated only. No live market execution occurs.

Inactivity policy (Performance Accounts):

• EOD and Intraday PAs: Traders must record at least 2 trading days with $50 or more in net profit within every rolling 30-day period. After 15 consecutive days of inactivity the account enters dormant status. If 30 consecutive calendar days pass without meeting the activity threshold, the account is permanently closed. Closed accounts cannot be reinstated.
• Intraday PA (alternate reference): The PA FAQ states that if a trader does not record at least one $150 net profit day within 150 consecutive calendar days, the account will be closed. (There is some inconsistency between the two policy pages. The rolling 30-day policy appears to be the primary current rule for new accounts.)

Age requirement: Traders must be 18 years of age or older to participate in evaluations and funded accounts.

Account holder type: Payouts can be made to business accounts. If the Apex user account is registered as a business, the business EIN replaces the SSN and the business bank account is used for payouts. Sharing accounts with other individuals is prohibited; accounts must be actively traded only by the registered owner.

Professional vs. non-professional data status (Legacy): Non-professional status is included in the monthly plan fee. Selecting Professional status incurs additional CME data fees of $115 or more per calendar month per exchange. This distinction appears specific to Legacy accounts on Rithmic.

Additional Rules

PA activation window: After passing an evaluation, traders have 7 calendar days to complete the PA Activation Fee and activate their Performance Account. The 7-day window begins when the evaluation is officially marked as Passed after market close (after 6:00 PM ET), not when the profit target is reached intraday. If the activation fee is not completed within 7 calendar days, the opportunity expires permanently and a new evaluation must be passed.

Evaluation pass review: Evaluations are reviewed at market close (4:59:59 PM ET). If the profit target is confirmed as reached, the evaluation is marked as Passed after 6:00 PM ET on the same day.

Violation notification system: Apex may issue account update notifications when trading activity affects payout eligibility. When a violation is detected, the following consequences apply: payout request is suspended for 8 trading days; all profits from the day of the violation are removed; payout eligibility is limited to profits earned after the violation date until the trader successfully completes a payout at the maximum payout amount for their account size. Multiple violations may result in probation.

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Activation Fee

The PA Activation Fee is a one-time payment required to transition from a passed Evaluation to an active Performance Account. It applies to all account types (EOD and Intraday, all sizes and platforms).

The fee is charged upfront before account activation. Traders complete payment via the “Purchase PA” link in the Passed Evals section of their dashboard. Payment must be made within 7 calendar days of the evaluation being marked as Passed.

The activation fee is non-refundable, non-transferable, and cannot be reversed. It does not renew and is not a subscription. If a PA is subsequently disqualified, liquidated, or closed due to inactivity, the account is permanently closed and a new evaluation must be passed to obtain another PA (and a new activation fee applies).

Promotional discounts on the PA Activation Fee may be offered during sale periods. These discounts apply through a specified promotion date and then revert to the regular price. A discounted activation fee tied to a promotional period does not remain available indefinitely simply because the evaluation was purchased during that period.

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Commissions

All information about the commission structure can be found here:

• Rithmic: https://apextraderfunding.com/help-center/rithmic/rithmic-commissions-instruments
• Tradovate: https://apextraderfunding.com/help-center/tradovate/tradovate-commission-instruments
• WealthCharts: https://apextraderfunding.com/help-center/wealthcharts/wealthcharts-commissions-instruments

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Payout Policy

Profit split: 100% to the trader on all approved payouts. Apex retains 0%.

Eligibility requirements (both EOD and Intraday PAs):

• Minimum 5 qualifying trading days since the last approved payout (days do not need to be consecutive)
• Each qualifying day must meet the minimum daily profit threshold for the account size and type
• 50% consistency rule must be satisfied (no single day can represent 50% or more of total net profit since last payout)
• Account balance must remain above the Safety Net (drawdown limit + $100) plus the minimum payout amount

Minimum daily profit thresholds by account size:

EOD Performance Account:

Account Size	Min Daily Profit (per qualifying day)
$25K	$100
$50K	$250
$100K	$300
$150K	$350

Intraday Performance Account:

Account Size	Min Daily Profit (per qualifying day)
$25K	$100
$50K	$200
$100K	$250
$150K	$300

Safety Net: Starting balance + $100 (i.e., the drawdown limit plus $100). This threshold must be maintained for the lifetime of the PA. Only profit above the Safety Net is eligible for payout.

Minimum payout amount: $500 per request, regardless of account size or type.

Maximum payout amounts per request (EOD Performance Account):

Payout #	$25K	$50K	$100K	$150K
1	$1,000	$1,500	$2,000	$2,500
2	$1,000	$1,500	$2,500	$3,000
3	$1,000	$2,000	$2,500	$3,000
4	$1,000	$2,500	$3,000	$3,000
5	$1,000	$2,500	$4,000	$4,000
6	$1,000	$3,000	$4,000	$5,000

Maximum payout amounts per request (Intraday Performance Account):

Payout #	$25K	$50K	$100K	$150K
1	$1,000	$1,500	$2,000	$2,500
2	$1,000	$2,000	$2,500	$3,000
3	$1,000	$2,500	$3,000	$3,000
4	$1,000	$2,500	$3,000	$4,000
5	$1,000	$3,000	$4,000	$4,000
6	$1,000	$3,000	$4,000	$5,000

Maximum total payouts per PA: 6. After the sixth approved payout, the PA completes its payout cycle and is closed. A new evaluation must be passed to obtain another PA.

Payout frequency: Up to weekly. The earliest a payout can be requested is after 5 qualifying trading days. There is no maximum time limit to complete those 5 days.

Processing timeline:

1. Apex reviews the payout request within 2 business days of submission.
2. If approved, funds are sent within 3-4 business days.
3. The receiving bank or payment provider processes the deposit, typically within 3-7 business days.

Total estimated time from submission to receipt: 5-11 business days for most traders.

Payout methods:

• US-based traders: ACH direct deposit to a US-based bank account. Traders must use the ACH routing number, not the wire routing number.
• International traders: Payouts are processed through Plane, Apex’s global payment partner. After the first payout is approved, an invitation email from Plane is sent to link a local bank account. The bank account must be in the same country as the trader’s declared country of residence.

Trading after payout request: Traders may continue trading immediately after submitting a payout request. There is no hold period. However, traders should trade as if the requested funds have already been removed from their balance. If the account balance drops below the minimum required threshold after submission, the request is automatically denied.

Geographic restrictions: Apex services are intended for US users and are not offered where prohibited by local laws or regulations. A list of restricted countries is available at: https://apextraderfunding.com/help-center/getting-started/restricted-countries/