Futures prop firm review

Apex Trader Funding review

Apex Trader Funding is one of the largest futures-focused evaluation firms. It runs a one-step evaluation with a trailing drawdown that tracks unrealized profit, offers seven account sizes from $25K through $300K, and advertises a 100% profit split on the first $25K of withdrawals plus 90/10 after. Traders pick Apex for volume of payouts and frequent promo cycles; traders avoid Apex when the trailing drawdown does not fit how they scale into trades.

United StatesFounded 2021Listed on PipBackMain risk: Trailing drawdown tracks unrealized profit intraday, sizing …

Apex Trader Funding

80% off with PIP

Up to 80% off with code PIP

Use code PIP for up to 80% off eligible evaluations. Applies to 7 eligible products.

Last checked: 6 days ago

Claim through PipBack

We may earn a commission if you buy through our partner link. Learn more.

At a glance

Best-fit trader

Active intraday futures traders who want multiple funded accounts, frequent promo pricing, and weekly-or-faster payout cycles.

Main rule to understand first

Trailing drawdown tracks unrealized profit intraday, sizing inside a winning trade can move your drawdown line faster than you expect.

Quick facts

Apex Trader Funding quick facts
Firm	Apex Trader Funding
Account sizes	$25,000 – $300,000
Drawdown type Trailing by unrealized profit until equity is +$100 above the locked-in threshold, at which point the drawdown locks at initial + $100 for some accounts. Verify against current Apex rules before purchase.	Trailing
Profit split	90/10
Payout cadence	on-demand
Min payout	$500
Platforms	Tradovate, NinjaTrader, Rithmic, Quantower, TradingView
News trading	Restricted, check firm rules
Copy trading	Allowed
Minimum trading days	7 days
Country (HQ)	United States

Pricing and PIP discount

Full-price evaluations, the PIP-adjusted price estimate, reset and activation fees, and the minimum out of pocket to reach a first payout.

Account	Full price	With PIP	Reset	Activation	Min. out of pocket
$25K Evaluation Target $1,500 · Max loss $1,500	$147	$29	$80	$130	$159
$50K Evaluation Target $3,000 · Max loss $2,500	$167	$33	$80	$130	$163
$75K Evaluation Target $4,250 · Max loss $2,750	$187	$37	$80	$130	$167
$100K Evaluation Target $6,000 · Max loss $3,000	$207	$41	$80	$130	$171
$150K Evaluation Target $9,000 · Max loss $5,000	$297	$59	$80	$130	$189
$250K Evaluation Target $15,000 · Max loss $6,500	$517	$103	$80	$130	$233
$300K Evaluation Target $20,000 · Max loss $7,500	$657	$131	$80	$130	$261

PIP price applied to the evaluation only. Reset and activation fees shown at full price. Minimum out of pocket assumes you pass on the first attempt. Always confirm at checkout, offers change.

Run the true cost calculator Full Apex discount page

Rule summary

Plain-English rules pulled from the firm's published policies. Always verify on the firm's site before purchase.

Apex Trader Funding rule summary
Drawdown type Trailing by unrealized profit until equity is +$100 above the locked-in threshold, at which point the drawdown locks at initial + $100 for some accounts. Verify against current Apex rules before purchase.	Trailing drawdown
Profit target Targets and limits scale with the account tier, see pricing.	$1,500 on the $25K Evaluation
Max loss	$1,500 on the $25K Evaluation
Consistency rule On funded accounts Apex applies a 30% consistency rule: no single trading day can exceed 30% of your total net profit at payout request.	Yes, no single day may exceed 30% of total profit
News trading	Restricted, check firm rules
Copy trading	Allowed
Scalping	Allowed
Overnight holds	Not allowed
Minimum trading days	7 days
Inactivity limit	7 days
Max contracts (by account)	$25,000: 4 contracts $50,000: 10 contracts $75,000: 12 contracts $100,000: 14 contracts $150,000: 17 contracts $250,000: 27 contracts $300,000: 35 contracts
One-direction rule	Reducing/scaling out inside a losing trade is fine; holding through a market halt is disallowed.

Read the full Apex rules breakdown

Payouts

Apex Trader Funding payout rules
First payout eligibility	After 8 trading days
Minimum payout	$500
Maximum payout	Uncapped
Profit split	90% trader / 10% firm
Payout cadence	on-demand
Payout methods	Bank wire, Plane Payments, Rise

Conditions to satisfy on payout request

Must satisfy the 30% single-day profit rule at payout request.
First $25,000 of lifetime withdrawals per account is 100% to trader.
Every payout request is reviewed by Apex's compliance team.

Common reasons payouts are rejected

Single winning day above 30% of lifetime profit.
Holding contracts into news windows marked restricted.
Exceeding max contracts for the account tier.

Apex uses a split between performance account and live trader, payouts are processed from the performance account on payout days.

Who it fits / who should avoid it

Who Apex fits

Scalpers and intraday futures traders who can hit profit targets without overnight risk.
Traders who want multiple funded accounts running in parallel.
Traders comfortable with a trailing drawdown and a 30% consistency rule.

Who should avoid Apex

You swing-trade and need to hold contracts overnight.
Your edge relies on a small number of outlier days (30% consistency rule will block payouts).
You want end-of-day rather than trailing drawdown behavior.

FAQs

Does Apex honor code PIP?

Yes. Apex accepts code PIP when you start your evaluation through PipBack's tracked link. The current PIP discount is 80% off every evaluation account size, verified on the date shown on this page.

What is the Apex trailing drawdown?

Apex uses a trailing drawdown that tracks unrealized profit during evaluations. Your drawdown line moves up with your highest equity point, then stops trailing once it reaches the initial balance plus a small buffer, the exact buffer varies by account tier. Check Apex's current rules page before trading.

Can I hold positions overnight at Apex?

No. Apex requires all positions to be closed by the daily hard stop. Holding into the next session is grounds for failing the evaluation or the funded account.

What does Apex pay out first?

Apex pays 100% of the first $25,000 of withdrawals per funded account, then switches to a 90/10 split in the trader's favor. Payout requests must meet the consistency rule and minimum trading day count.

How many Apex accounts can I hold at once?

Apex allows up to 20 evaluations and 20 funded accounts per trader, subject to their current scaling and compliance policies. Verify in Apex's FAQ before purchasing more than one.

Alternatives worth comparing

Not sure Apex fits? Here are three other PipBack-listed futures prop firms worth comparing on rules and cost.

MyFundedFutures

Hybrid6 accounts

PIP

via PipBack

Code PIP

US futures prop firm offering three program tiers, Starter, Expert, and Milestone, with end-of-day drawdown on the Expert and Milestone tracks and a one-step evaluation.

Split: 90/10
Min payout: $1000
Platforms: Tradovate, NinjaTrader, Rithmic

Read full review

Take Profit Trader

End-of-day4 accounts

40%

off with PIP

Code PIP

US futures prop firm running a one-step evaluation with end-of-day drawdown and a 90/10 profit split after the initial withdrawal threshold.

Split: 90/10
Min payout: $250
Platforms: TopstepX, Tradovate, NinjaTrader

Read full review

FundedNext Futures

End-of-day4 accounts

10%

off with PIP

Code PIP

Futures-specific arm of FundedNext, offering one-step evaluations with an end-of-day drawdown and a 90/10 profit split on funded accounts.

Split: 90/10
Min payout: $500
Platforms: Tradovate, NinjaTrader, TradingView

Read full review

Change log

Apr 15, 2026Offer update
Confirmed PIP discount at 80% off all evaluation sizes via PipBack.
Mar 28, 2026Rule change
Verified consistency rule still enforced at 30% on funded accounts.

Sources

PipBack: https://pipback.com/best-futures-prop-firms/(checked Apr 15, 2026, confidence high)
Firm terms: https://apextraderfunding.com/rules(checked Apr 12, 2026, confidence high)

Use code PIP via PipBack