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Verdict
Apex suits manual futures day traders who value one-day evaluations and 100% payouts.
The March 1, 2026 relaunch created 4 distinct paths: Intraday Trail or End-of-Day Trail, each sold as Standard or No Activation Fee. The evaluation has no consistency rule and can pass in 1 day, but the Performance Account adds a 50% payout-consistency gate, a $500 request minimum and a maximum of 6 approved payouts before that PA closes.
Quick facts
| Founded | 2021 in Austin, Texas |
| Current product generation | New EOD and Intraday products launched March 1, 2026; older products are Legacy |
| Markets | Futures on CME, CBOT, NYMEX, COMEX and selected EUREX contracts |
| Programs | Intraday Trail and EOD Trail, each with Standard and No Activation Fee paths |
| Account sizes | $25K, $50K, $100K and $150K across 16 product-size combinations |
| Verified list price | $199 plus $59 activation on 25K Intraday Standard; 15 dynamic prices remain unverified |
| Evaluation target | 6%: $1,500 / $3,000 / $6,000 / $9,000 by size |
| Maximum loss | $1,000 / $2,000 / $3,000 / $4,000 by size |
| Consistency | None in evaluation; 50% when requesting a PA payout |
| Profit split | 100% of approved Sim Funded payout requests |
| First payout | After 5 qualifying trading days; $500 minimum request |
| Trustpilot | 4.2 / 5 from 20,358 reviews, captured 2026-07-28 |
Challenges available
Apex lists 4 new one-step products across 4 sizes. Every evaluation provides 30 calendar days of access, has no reset and can pass after 1 trading day. A dash in the fee column means the current first-party card could not be verified, not that the evaluation is free.
| Product | Size | Eval fee | Activation | Target | Daily loss | Max loss | Split |
|---|---|---|---|---|---|---|---|
| Intraday - Standard | $25K | $199 list | $59 | $1,500 | None | $1,000 trailing | 100% |
| Intraday - Standard | $50K | — | — | $3,000 | None | $2,000 trailing | 100% |
| Intraday - Standard | $100K | — | — | $6,000 | None | $3,000 trailing | 100% |
| Intraday - Standard | $150K | — | — | $9,000 | None | $4,000 trailing | 100% |
| EOD - Standard | $25K | — | — | $1,500 | $500 | $1,000 EOD | 100% |
| EOD - Standard | $50K | — | — | $3,000 | $1,000 | $2,000 EOD | 100% |
| EOD - Standard | $100K | — | — | $6,000 | $1,500 | $3,000 EOD | 100% |
| EOD - Standard | $150K | — | — | $9,000 | $2,000 | $4,000 EOD | 100% |
| Intraday - No Activation Fee | $25K | — | $0 | $1,500 | None | $1,000 trailing | 100% |
| Intraday - No Activation Fee | $50K | — | $0 | $3,000 | None | $2,000 trailing | 100% |
| Intraday - No Activation Fee | $100K | — | $0 | $6,000 | None | $3,000 trailing | 100% |
| Intraday - No Activation Fee | $150K | — | $0 | $9,000 | None | $4,000 trailing | 100% |
| EOD - No Activation Fee | $25K | — | $0 | $1,500 | $500 | $1,000 EOD | 100% |
| EOD - No Activation Fee | $50K | — | $0 | $3,000 | $1,000 | $2,000 EOD | 100% |
| EOD - No Activation Fee | $100K | — | $0 | $6,000 | $1,500 | $3,000 EOD | 100% |
| EOD - No Activation Fee | $150K | — | $0 | $9,000 | $2,000 | $4,000 EOD | 100% |
Rules and the single verified list price were captured from Apex's new-product selector and help center on 2026-07-28. Pricing is dynamic and coupon-dependent; confirm all 16 current checkout totals before paying.
How the rules actually work
Intraday Trail follows unrealized peaks. A $50K evaluation starts with a $2,000 maximum loss, placing the first threshold at $48,000. If open equity reaches $51,000, the real-time trailing rule can lift the threshold to $49,000 before the trade closes; giving the $1,000 gain back does not move the threshold down.
EOD Trail updates from the closing balance. The same $50K size has a $2,000 maximum loss, but the next-session threshold is calculated after market close. A $51,000 end-of-day balance implies a $49,000 threshold for the following session, so an intraday spike that disappears before the close does not tighten the line in the same way.
EOD has a separate daily-loss pause. Evaluation DLLs are $500 on $25K, $1,000 on $50K, $1,500 on $100K and $2,000 on $150K. Touching the DLL closes positions and pauses trading until the 6:00 PM ET reset; it does not fail the evaluation. Touching the EOD maximum-loss threshold does fail it.
The 50% consistency rule starts after passing. Apex applies no evaluation consistency percentage, but a PA payout is unavailable if the largest profitable day is 50% or more of net profit since inception or the last approved payout. A $900 best day on $2,000 total profit is 45% and passes that test; a $1,000 best day is exactly 50% and does not.
Every trade must close before 4:59 PM ET. The day-trading rule allows new orders again at 6:00 PM ET but excludes overnight and weekend positions. News trading is restricted: a normal strategy may trade during a release, while two-sided orders, news chasing and hedging to gamble on the outcome are prohibited.
Automation is banned, while personal copying is conditional. Bots, scripts, algorithms and preprogrammed order logic are prohibited. The User Agreement permits copying only when 1 manually controlled originating account receives the trader's real-time order and the same user's receiving accounts mirror that order exactly without alteration.
True cost to break even
The only fully verified cost path is the $25K Intraday Standard list price: $199 for the evaluation plus a tier-specific $59 activation fee. The generated True-Cost calculation uses the $258 total, the 100% payout split and the $1,000 tier loss limit. Apex also displayed $19.90 with an affiliate coupon, but that temporary code price is excluded from the audited table.
| Tier | Cost to funded (fee + tier activation) | Break-even profit (100% split) | Max loss | R-multiple vs tier max loss | Days @ 1%/day |
|---|---|---|---|---|---|
| $25K | $258 | $258 | $1,000 | 0.26 | 2 |
The $258 break-even equals 0.26 times the $1,000 maximum loss and takes 2 modeled days at 1% daily growth. The other 15 product-size fees remain null, so no additional True-Cost tables can be generated without inventing checkout prices. That visible gap is preferable to treating a rotating coupon as permanent cost.
Payout speed in practice
The earliest request follows 5 qualifying days. Intraday daily-profit minimums are $100 / $200 / $250 / $300 by size; EOD minimums are $100 / $250 / $300 / $350. The 5 days need not be consecutive, but days below the applicable minimum do not count.
Every request starts at $500 and sits above a safety net. The minimum balance equals starting capital plus the tier's maximum drawdown plus $100, then another $500 is needed for the smallest request. Apex's captured public pages did not provide a complete payout-method and transfer-fee table, so those fields remain unverified instead of being inferred from older Legacy terms.
Each PA has a 6-payout lifecycle. First-request caps are $1,000 / $1,500 / $2,000 / $2,500 across $25K / $50K / $100K / $150K; later caps rise by payout number. After the 6th approved payout, the Performance Account closes and a trader must qualify through another evaluation for a new PA.
Third-party sentiment is positive but not payout proof. The Trustpilot profile showed 4.2/5 from 20,358 reviews on 2026-07-28. That aggregate includes support, platform and purchase experiences, so the 5-day rules, 50% consistency test and balance threshold remain the evidence that matters for an individual request.
Pros
- All 4 account sizes can pass after 1 trading day with no evaluation consistency rule.
- Approved Sim Funded payouts use a 100% split instead of a 80% or 90% share.
- Traders can choose intraday or end-of-day trailing drawdown across $25K, $50K, $100K and $150K.
- The No Activation Fee route publishes a $0 PA activation charge for all 8 Intraday/EOD size combinations.
- Up to 20 Performance Accounts can remain active across the new product set.
- The $500 minimum can be requested after 5 qualifying days rather than a monthly payout cycle.
Cons
- Only 1 of 16 current product-size prices was independently verified because the selector is dynamic and coupon-dependent.
- The $59 activation fee on 25K Intraday Standard conflicted with older first-party card crawls showing $69.
- Every evaluation expires after 30 calendar days, has no extension and offers no reset.
- Intraday Trail follows unrealized equity, so a temporary $1,000 spike can permanently tighten the threshold.
- The 50% PA payout-consistency rule can delay a request even after 5 qualifying days are complete.
- Each PA closes after 6 approved payouts, and first-request caps start at $1,000-$2,500 by size.
- The 4:59 PM ET flattening rule and automation ban exclude swing systems and algorithmic execution.
Who should pick Apex Trader Funding
A manual ES, NQ or micro-futures day trader should compare the $50K EOD route when a $2,000 end-of-day loss allowance, $1,000 daily pause and 100% approved-payout split fit the strategy. Use the Standard route only after confirming the live evaluation and activation totals; use No Activation Fee only when its higher upfront fee is cheaper for the trader's expected pass rate.
Who should avoid Apex Trader Funding
An automated trader, a futures swing trader holding past 4:59 PM ET, or anyone wanting a PA with more than 6 payouts should avoid this product generation. Compare Topstep for a different funded-account progression or TradeDay for Quick Pay and Fast Pass choices, then use the Apex vs Topstep comparison to check the rule trade-offs.
FAQ
Is Apex Trader Funding a futures prop firm?
Yes. Apex's 2026 products cover futures through Rithmic, Tradovate and WealthCharts, with positions required to close before 4:59 PM ET.
How much does an Apex evaluation cost?
The verified 25K Intraday Standard list fee was $199 plus $59 activation on 2026-07-28. The other 15 current prices remain unverified because Apex's selector and coupon amounts change dynamically.
Can an Apex evaluation pass in one day?
Yes. Intraday and EOD evaluations have no minimum beyond 1 trading day and no evaluation consistency rule, but the target remains 6% and access expires after 30 calendar days.
What is Apex's payout consistency rule?
The PA rule requires the largest profitable day to be below 50% of net profit since inception or the last approved payout. Exactly 50% is not eligible.
How soon can Apex pay out?
The first request follows 5 qualifying trading days and starts at $500. Each PA permits no more than 6 approved payouts.
Does Apex allow overnight or weekend positions?
No. Every position must close before 4:59 PM ET, trading resumes at 6:00 PM ET, and the same day-trading rule prevents weekend holding.
Does Apex allow bots or copy trading?
Bots and algorithms are prohibited. Copying is restricted to the same user's accounts from 1 manually traded originating account with exact, unaltered replication.