Apex Trader Funding and FTMO are two of the most recognized names in the proprietary trading industry. Both firms provide traders access to significant capital, but they differ in their approaches, evaluation processes, and market specializations. This detailed comparison covers their key features, platforms, rules, and more, to help traders decide which firm aligns better with their prop trading goals.
1. Overview of the Firms
Apex Trader Funding
- Founded: 2021
- Headquarters: Austin, Texas, USA
- Specialization: Futures trading
- Mission: Focused on providing traders with an accessible, flexible, and trader-centric funding solution.
FTMO
- Founded: 2015
- Headquarters: Prague, Czech Republic
- Specialization: Forex and CFDs
- Mission: Offers a well-structured evaluation process to create disciplined and profitable traders.
2. Evaluation Programs
Apex Trader Funding
- Program Type: Single-step evaluation.
- Profit Target: 6%, relatively lower compared to other firms.
- Trailing Drawdown: Dynamic trailing drawdown based on equity highs, ranging from 6% to 2.5%.
- Minimum Trading Days: None.
- Maximum Trading Days: Unlimited, allowing traders to complete the evaluation at their own pace.
- Profit Split: Starts at 90%.
- Account Sizes: Ranges from $25,000 to $300,000, catering specifically to futures traders.
FTMO
- Program Type: Two-step evaluation.
- Phase 1 (Challenge):
- Profit Target: 10%.
- Maximum Daily Loss: 5%.
- Maximum Loss: 10%.
- Minimum Trading Days: 10.
- Maximum Trading Days: 30.
- Phase 2 (Verification):
- Profit Target: 5%.
- Maximum Daily Loss: 5%.
- Maximum Loss: 10%.
- Minimum Trading Days: 10.
- Maximum Trading Days: 60.
- Phase 1 (Challenge):
- Profit Split: Starts at 80% and can increase to 90% based on performance.
- Account Sizes: Ranges from $10,000 to $200,000, appealing to traders in forex, commodities, and indices.
Key Differences:
- Apex Trader Funding has a simpler single-step evaluation with no time limits, making it ideal for traders who want flexibility.
- FTMO’s two-step evaluation provides a more structured process, testing both profitability and consistency over an extended period.
3. Trading Instruments and Platforms
Apex Trader Funding
- Instruments:
- Futures: Includes equity indices, forex, agricultural products, energy, interest rates, metals, and cryptocurrencies.
- Platforms:
- NinjaTrader: Renowned for its advanced charting tools and seamless execution.
- Tradovate: A modern, cloud-based platform with web and mobile trading capabilities.
- TradingView: Comprehensive charting and analysis tools.
- R|Trader Pro: Direct market access with professional-grade features.
FTMO
- Instruments:
- CFDs: Covers forex, commodities, indices, stocks, metals, and cryptocurrencies.
- Platforms:
- MetaTrader 4 (MT4): Industry-standard for retail trading.
- MetaTrader 5 (MT5): Advanced version with more features.
- cTrader: A user-friendly platform offering fast execution and sophisticated analysis tools.
Key Differences:
- Apex focuses exclusively on futures, while FTMO offers a broader range of instruments, appealing to traders in multiple asset classes.
- FTMO’s platform variety, including MT4 and MT5, is preferred by forex and CFD traders, whereas Apex’s platform lineup is tailored to futures traders.
4. Trading Rules and Flexibility
Apex Trader Funding
- Flexibility:
- Allows scalping, day trading, swing trading, and algorithmic trading.
- Permits trading during news events, overnight, and over weekends.
- Risk Management:
- Trailing drawdown is based on equity highs, encouraging disciplined trading.
FTMO
- Flexibility:
- Supports all trading styles, including scalping, news trading, swing trading, and the use of Expert Advisors (EAs).
- Allows positions to be held overnight and over weekends.
- Risk Management:
- Fixed maximum daily and overall loss limits (5% and 10%, respectively).
Key Differences:
- Apex offers unrestricted news and overnight trading, which may appeal to futures traders who focus on volatility.
- FTMO’s clear-cut risk management parameters provide more structure for forex and CFD traders.
5. Profit Sharing and Payouts
Apex Trader Funding
- Profit Split:
- Traders retain 100% of the first $25,000 in profits.
- Beyond $25,000, the profit split is 90% to the trader.
- Payout Frequency:
- Payouts can be requested as early as 10 trading days into the funded account.
FTMO
- Profit Split:
- Starts at 80%, increasing to 90% for consistent performers.
- Payout Frequency:
- Monthly payouts, with the option to request earlier payouts under specific conditions.
Key Differences:
- Apex’s retention of the first $25,000 in profits offers an immediate financial incentive.
- FTMO’s profit splits are comparable but require consistent performance to reach 90%.
6. Fees and Costs
Apex Trader Funding
- Evaluation fees range from $147 for a $25,000 account to $657 for a $300,000 account.
- Traders incur additional platform fees for tools like NinjaTrader.
FTMO
- Evaluation fees range from €155 for a $10,000 account to €1,080 for a $200,000 account.
- No additional platform fees for using MT4, MT5, or cTrader.
Key Differences:
- Apex’s fees are lower for larger accounts, making it more cost-effective for traders seeking high capital.
- FTMO’s fees are more standardized but include free access to trading platforms.
7. Scaling Opportunities
Apex Trader Funding
- Traders can scale accounts up to $300,000, but specific scaling plans beyond this size are not detailed.
FTMO
- Offers a structured scaling plan, allowing traders to grow accounts up to $2,000,000 by achieving consistent profitability.
Key Differences:
- FTMO provides a clear path for scaling accounts significantly higher than Apex.
Conclusion
Apex Trader Funding is an excellent choice for futures traders seeking flexibility, minimal restrictions, and a straightforward evaluation process. Its focus on futures trading, combined with advanced platforms like NinjaTrader and TradingView, caters specifically to traders in this niche.
FTMO, on the other hand, appeals to forex and CFD traders with its structured two-step evaluation, broader range of instruments, and widely used trading platforms like MT4 and MT5. Its scaling plan to $2,000,000 is particularly attractive for traders aiming for significant growth.
Final Recommendation:
- Choose Apex Trader Funding if you are a futures trader looking for flexibility, high profit splits, and minimal restrictions.
- Opt for FTMO if you prefer forex and CFDs, a structured evaluation, and access to globally recognized trading platforms.
Both firms have strengths tailored to different trading styles, so the decision ultimately depends on your trading preferences and objectives.