Automated futures trading
Apex Trader Funding review
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Apex is the firm everyone finds through a coupon, and the 4.0 version that launched in March 2026 changed the math in ways the discount hype skips. Entry is still cheap, because Apex prices the eval one-time and runs a near-constant 80 to 90 percent off code, so a 50K eval lands around $30 to $40. The split is generous, 100 percent of your profit up to scaling payout caps. But resets are gone, the eval now expires in 30 days, and the drawdown is bigger than most of its rivals.
I ran an Apex eval to see how the drawdown and the new rules behave once the cheap entry stops being the story. Checked 24 June 2026.
| 50K eval | ~$119 with code, no resets |
|---|---|
| Model | 1-step OTP (EOD or intraday) |
| Drawdown | EOD or intraday trailing |
| 50K max loss | $2,000 (EOD or intraday) |
| Profit split | 100% (scaling payout caps) |
| News | Allowed |
| Overnight | No |
| Automation | Semi-auto only |
| Hedging | Cross-account banned |
Pros
- 100% profit split, against scaling payout caps
- Cheap one-time entry with the live code
- News trading allowed, plus an end-of-day drawdown option
Cons
- No resets: a failed or expired eval is a full re-buy
- Bigger $2,500 trailing drawdown to manage
- 30-day eval clock and a 6-payout lifetime cap
Account sizes and pricing
Evaluation 4.0 (EOD trailing). One-time, plus a $99 activation when you pass, no resets. EOD trailing (intraday option available) drawdown.
| Size | List price | Profit target | Max drawdown | Contracts |
|---|---|---|---|---|
| 25K | $177 | $1,500 | $1,000 | 4 |
| 50K | $197 | $3,000 | $2,000 | 6 |
| 100K | $297 | $6,000 | $3,000 | 8 |
| 150K | $397 | $9,000 | $4,000 | 12 |
List prices before code. Apex runs near-constant 80 to 90 percent off. The intraday-drawdown option is cheaper and drops the daily loss limit. Verify at checkout. See current codes. Checked June 2026.
Pricing checked 2026-06-24 from the official pricing page.
The pricing, and the no-reset trap
Apex prices the eval one-time, with no monthly subscription, and there is almost always a code live for 80 to 90 percent off. That is why the sticker near $200 is meaningless and the real eval cost is in the $30 to $40 range. On top of the eval you pay a one-time activation fee when you pass: $99 on an end-of-day account, $79 on an intraday one, due within seven days. The code rotates, so pull the live one at checkout rather than trust an aggregator.
Here is the part that changed and the part most write-ups miss. Apex 4.0 removed resets. In the old program you could pay $80 to $100 to restart a blown eval; now you cannot. Fail, or let the 30-day eval clock run out, and your only option is to buy a whole new evaluation. That flips the old advice on its head. The cheap entry is only cheap if you pass, because every failure is a full re-buy, not a discounted reset.
The drawdown is bigger, and now it is a choice
Apex runs a $2,500 trailing drawdown on a 50K, which is larger than the $2,000 most firms use, so there is more room to work with but more to give back. In 4.0 you choose how it is measured at purchase: end-of-day or intraday. End-of-day is the forgiving option, because it only checks your balance at the close, so an ugly excursion you recover from does not end the account. Intraday watches you live and is stricter.
The catch is that the forgiving option costs more: the end-of-day account activates for $99 against $79 for intraday. Either way the drawdown trails your gains up until you bank a payout, so a good morning followed by a sloppy afternoon can still stop you out. A trader used to a lock-at-start drawdown has to adjust.
Payout, the split, and the caps
The headline is the split: Apex pays 100 percent of your profit. Read the caps, though, because they are the real story. Each payout is capped and the cap scales by payout number, and there is a six-payout lifetime cap per funded account. On a 50K end-of-day account the schedule runs $1,500, $1,500, $2,000, $2,500, $2,500, then $3,000, so a single account pays out about $13,000 in total. After the sixth payout the account closes and you qualify again through a new evaluation. The 100 percent rate is real, but the amount you can pull from one account is fixed, and there is a consistency rule on the funded side on top of it.
Apex allows news trading, which several firms restrict. It also suspended metals trading in March 2026, so gold, silver and copper are off the table, which matters if those were your markets. None of this is a path to guaranteed money. Trading futures carries a substantial risk of loss, the bigger trailing drawdown is unforgiving, and with no resets the cheap eval is only cheap if you pass it.
Can you run a bot on Apex?
Not the way it used to work. Apex tightened its rules, and fully automated, hands-off trading is now restricted on every account, the evaluation included, not just the funded side. What is allowed is semi-automated tools, the ones that manage a trade you entered by hand, plus signal alerts you execute yourself, and dollar-cost-averaging tools that scale into a position, all under active supervision.
So a set-and-forget bot that enters and exits on its own is the wrong fit for Apex, and running one can mean termination and forfeited profit. Apex asks you to clear an algorithm with its risk team before you deploy it. Where Apex is generous is copy trading: you can run up to 20 funded accounts in parallel, the largest scaling cap around. The platforms are Tradovate and NinjaTrader for the API, with TradingView through a third-party bridge. The automation hub compares every firm side by side.
Where it fits
high-splitscaling
The verdict
Apex is a strong value pick for a disciplined day trader who passes evals reliably and wants a 100 percent split for a tiny entry cost. Take the end-of-day drawdown option even though it costs more to activate, because the forgiveness is worth more than the $20 difference, and respect the 30-day clock.
It is a worse pick than it used to be for anyone who needs several attempts, because resets are gone and every failure is a full re-buy. If you give profit back intraday or trade metals, look elsewhere. Pull the live code, choose end-of-day, and treat passing on the first try as the whole game.
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FAQ
Does Apex allow automated trading?
Apex restricts fully automated, hands-off trading on every account now, the evaluation included, and allows only semi-automated tools and confirmed signal alerts you execute under active supervision. It does allow copy trading across up to 20 funded accounts. Treat it as a semi-automation firm, not a bot firm.
Does Apex Trader Funding still allow resets?
No. Apex 4.0, launched in March 2026, removed account resets. If you fail the eval or let the 30-day eval window expire, you have to buy a whole new evaluation. There is no cheap reset anymore, which makes passing on the first try far more important.
What is Apex's drawdown?
A $2,500 trailing drawdown on a 50K, larger than the $2,000 most firms use. In 4.0 you choose how it is measured at purchase: end-of-day (more forgiving, $99 activation) or intraday (stricter, $79 activation). Either way it trails your gains up until you bank a payout.
How much is an Apex eval?
Apex uses one-time pricing with a near-constant 80 to 90 percent off code, so a 50K eval lands around $30 to $40, plus a one-time activation fee when you pass ($99 end-of-day, $79 intraday). With no resets, budget for the whole eval again if you fail rather than a cheap restart.
How does Apex's payout and split work?
Apex pays 100 percent of your profit against per-payout caps that scale as you take more payouts, with a six-payout lifetime cap per account and a consistency rule on the funded side. It allows news trading but suspended metals trading in March 2026.