Apex Trader Funding review
Apex Trader Funding is a futures-only prop firm founded in 2021 by Darrell Martin and headquartered in Austin, Texas. It is one of the highest-volume firms in the category, with roughly 20,000 Trustpilot reviews. In March 2026 it relaunched its product: new evaluations are now sold as one-time fees rather than the recurring monthly subscription Apex was long known for, with a choice of intraday or end-of-day trailing drawdown, a one-day minimum to pass, and up to 20 simultaneous accounts. Passing traders move to a Performance Account where Apex currently advertises no revenue split on requested rewards, subject to a 50% single-day consistency rule at payout time. Accounts bought before March 1, 2026 remain on the older, "legacy" subscription terms. All trading is simulated; Apex is not a regulated broker, and a live-capital step exists only by invitation.
Apex Trader Funding key facts
- Website: apextraderfunding.com
- Category: Prop trading firm
- Founded: 2021
- Headquarters: Austin, Texas, USA
- Model: One-step evaluation, one-time fee (new accounts)
- Account sizes: $25K–$150K
- Profit split: 100% of requested rewards (Performance Account)
- Payout cycle: 5 trading days between requests
- Markets: Futures only (CME, CBOT, COMEX, NYMEX, EUREX)
- CEO: Darrell Martin
- FYI Score: 93.6/100 (ranked #21 of the prop trading firms we track)
Rules and risk
- Traders choose between Intraday Trail or EOD Trail drawdown at signup; Apex advertises no separate daily loss limit, no MAE (Maximum Adverse Excursion) rule and no 5:1 risk/reward rule — restrictions it specifically dropped in the March 2026 relaunch.
- A one-day minimum to pass, with no consistency requirement during the evaluation itself; a 50% single-day consistency rule applies once trading the Performance Account, ahead of approved payouts.
- Contract limits scale with account size, from 4 mini/40 micro on the $25K tier up to 12 mini/120 micro on $150K under the Intraday Trail track.
- One-time-fee evaluations are active for 30 days and expire with no resets if the profit target isn't hit — a tighter window than the old subscription model, which billed monthly until cancelled.
Payouts and program structure
- Traders can run up to 20 simultaneous accounts and request Performance Account payouts every 5 trading days; Apex advertises "no payout denials" and no video or chart-screenshot reviews before approval.
- New (post-March-2026) evaluations are sold as one-time fees with no recurring billing, replacing Apex's long-standing monthly-subscription model; accounts bought before March 1, 2026 remain "legacy" and stay on the old recurring-billing terms indefinitely.
- On the Performance Account, Apex currently advertises 100% of requested rewards with no split taken by the firm — a marked change from the roughly 90% split reported under the legacy program.
- A further, invitation-only Apex Live step offers a transition to real capital for traders who show sustained risk management and consistency on their Performance Account.
Apex Trader Funding evaluation challenges
| Challenge | Steps | Profit target | Max drawdown | Profit split | Price |
|---|
| Trading Evaluation → Performance Account | 1-step | 6% | 4% | 100% | $199 one-time at $25K, up to roughly $799 at $150K (reported) · no recurring billing on new accounts |
Markets
Equity index futures, Currency futures, Agricultural futures, Energy futures, Metals futures, Micro futures, EUREX (select, Tradovate only)
Platforms
Tradovate, Rithmic (R Trader Pro), WealthCharts
Who Apex Trader Funding is for
A reasonable fit for a futures trader who wants a fast, one-day evaluation, values not paying a recurring monthly fee, and is comfortable choosing between intraday and EOD trailing drawdown. Traders should budget for an activation fee when moving into the Performance Account and read the current rules carefully, since Apex's terms changed materially in 2026 and legacy and new accounts now run on different terms side by side.
Pros
- One-day-minimum evaluation with a genuine one-time fee (no recurring billing) on new accounts, plus a choice of intraday or EOD trailing drawdown.
- No separate daily loss limit, no MAE rule and no 5:1 risk/reward rule — fewer of the technical trip-wires that catch traders at other futures firms.
- Very large, largely positive review base (roughly 20,000 Trustpilot reviews, about 4.2/5), with a founder who personally responds to reviews.
- Currently advertises a 100% profit split on Performance Account payouts, with no split taken by the firm on requested rewards.
Cons
- The March 2026 overhaul (subscription to one-time fee, new drawdown options, no-split payouts) is very recent; the "100% no-split" pledge and new consistency framework have a short track record next to Apex's multi-year legacy history.
- Legacy accounts bought before March 1, 2026 remain on the older recurring-billing, roughly-90%-split terms indefinitely, so two different rule sets now coexist across the customer base.
- All evaluation and Performance Account trading is simulated; Apex is not a regulated broker, and the live-capital step is invitation-only rather than a standard track.
- Contract limits are tight at smaller sizes (4 minis on the $25K tier), and a one-day minimum to pass can reward a single lucky session rather than demonstrated consistency.
Apex Trader Funding FAQ
Is Apex Trader Funding legit?
Apex Trader Funding is a real, operating futures prop firm founded by Darrell Martin in 2021 and headquartered in Austin, Texas, with one of the largest review bases in the category (roughly 20,000 Trustpilot reviews, about 4.2/5). It is not a regulated broker, and evaluation and Performance Account trading is simulated rather than live.
What changed with "The All New Apex" in March 2026?
As of March 1, 2026, new evaluations moved from a recurring monthly subscription to a one-time fee with no rebilling, added a choice between intraday and end-of-day trailing drawdown, dropped the MAE and 5:1 risk/reward rules, and now advertise a 100% split with no cut taken by the firm on requested Performance Account rewards. Accounts purchased before that date remain "legacy" and keep the old recurring-billing, lower-split terms.
What are Apex's drawdown and contract rules?
On the current Intraday Trail evaluation, the $25K account carries a $1,000 (4%) trailing max drawdown and a 4 mini/40 micro contract limit, scaling up to $4,000 drawdown and 12 mini/120 micro contracts on the $150K account. There is no separate daily loss limit; a 50% single-day consistency rule applies once trading the funded Performance Account, not during the evaluation.
How does the profit split and payout work?
Apex currently advertises 100% of requested rewards on the Performance Account, with payouts requestable every 5 trading days and no video or chart review required for approval. This applies to new, post-March-2026 accounts; legacy accounts purchased earlier remain on the firm's previously reported roughly-90% split.
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