Apex Trader Funding and FundedNext are two well-known proprietary trading firms offering traders access to capital after completing their respective evaluation processes. While both firms aim to support traders, their approaches, offerings, and conditions differ significantly. This detailed comparison highlights their features, evaluation rules, platforms, and other key considerations to help traders choose the firm that best suits their trading style.
1. Overview of the Firms
Apex Trader Funding
- Founded: 2021
- Headquarters: Austin, Texas, USA
- Specialization: Futures trading
- Mission: Designed to be trader-friendly, offering a straightforward evaluation process with minimal restrictions to help traders succeed.
FundedNext
- Founded: 2022
- Headquarters: Ajman, UAE
- Specialization: Forex and CFDs
- Mission: Focused on empowering traders globally with flexible programs and scaling opportunities, catering to both experienced and novice traders.
2. Evaluation Programs
Apex Trader Funding
- Program Type: One-step evaluation.
- Profit Target: 6% of the account balance.
- Trailing Drawdown: Dynamic, starting at 6% and reducing based on equity highs.
- Minimum Trading Days: No minimum requirement.
- Maximum Trading Days: Unlimited, allowing traders to take their time.
- Profit Split: Traders retain 90% of profits.
- Account Sizes: Available accounts range from $25,000 to $300,000.
FundedNext
- Program Types:
- One-Step Evaluation:
- Profit Target: Ranges from 10% to 25%, depending on the chosen program.
- Maximum Drawdown: Ranges from 6% to 10%.
- Minimum Trading Days: As low as 2, depending on the program.
- Maximum Trading Days: Varies by account size and program, offering flexibility.
- Profit Split: Starts at 60%, with the potential to increase to 90%.
- Two-Step Evaluation:
- Phase 1: Profit Target: 8% to 10%, with a maximum loss of 10%.
- Phase 2: Profit Target: 4% to 5%, with similar drawdown and loss rules.
- Minimum Trading Days: 5 per phase.
- Maximum Trading Days: 20 to 60, offering time for measured performance.
- One-Step Evaluation:
Key Differences:
- Apex Trader Funding’s one-step process is simpler and has no time constraints, appealing to traders who want flexibility.
- FundedNext’s two-step program is more rigorous but provides multiple evaluation paths tailored to different trader goals.
3. Account Sizes and Fees
Apex Trader Funding
- Account Sizes: Offers accounts ranging from $25,000 to $300,000.
- Evaluation Fees: Range from $147 to $657, depending on account size.
FundedNext
- Account Sizes: Offers accounts from $6,000 to $200,000.
- Evaluation Fees: Range from $49 to $1,099, depending on the program and account size.
Key Differences:
- Apex focuses on larger account sizes, while FundedNext offers smaller accounts, catering to traders with varying budgets.
- FundedNext’s smaller evaluation fees for lower accounts make it accessible to novice traders.
4. Trading Instruments
Apex Trader Funding
- Instruments: Specializes in futures trading, including:
- Equity indices
- Forex futures
- Commodities (metals, agricultural products, and energy)
- Cryptocurrencies
FundedNext
- Instruments: Focuses on CFDs, including:
- Forex
- Indices
- Metals
- Commodities
- Stocks
- Cryptocurrencies
Key Differences:
- Apex caters exclusively to futures traders, while FundedNext provides broader access to CFDs, making it better suited for traders looking for a diverse range of instruments.
5. Trading Platforms
Apex Trader Funding
- Platforms:
- NinjaTrader: Known for its advanced tools and charting capabilities.
- Tradovate: A modern, cloud-based trading platform.
- TradingView: Offers powerful charting and technical analysis features.
- R|Trader Pro: Provides professional-grade trading tools for futures traders.
FundedNext
- Platforms:
- MetaTrader 4 (MT4): The most popular trading platform globally.
- MetaTrader 5 (MT5): A more advanced version with additional features.
- TradingView: Offers excellent charting for analysis.
- Match-Trader and DXTrade: Provide unique trading experiences for advanced users.
Key Differences:
- Apex’s platform selection is tailored to futures trading, while FundedNext offers industry-standard platforms like MT4 and MT5 for forex and CFD traders.
6. Leverage
Apex Trader Funding
- Leverage: Futures leverage typically operates at 1:1, as futures trading involves inherent leverage.
FundedNext
- Leverage:
- Forex: Up to 1:100
- Indices and Metals: Up to 1:50
- Commodities: Up to 1:50
- Cryptocurrencies: Up to 1:2
Key Differences:
- FundedNext’s leverage levels offer greater flexibility for traders in forex and CFDs compared to Apex’s inherent futures leverage.
7. Trading Styles and Flexibility
Apex Trader Funding
- Allowed: Scalping, swing trading, day trading, and use of automated systems (EAs, bots).
- Restrictions: Minimal; allows trading during news events and overnight/weekend positions.
FundedNext
- Allowed: Scalping, swing trading, day trading, and automated systems.
- Restrictions: Prohibits news trading, which may limit some strategies.
Key Differences:
- Apex’s unrestricted environment allows for greater strategy diversity, while FundedNext’s news trading restriction may deter some traders.
8. Payouts
Apex Trader Funding
- Profit Split:
- Traders retain 100% of the first $25,000 in profits.
- Beyond $25,000, a 90% profit split applies.
- Payout Frequency: Payouts can be requested as early as 10 trading days.
FundedNext
- Profit Split:
- Ranges from 60% to 90%, depending on the program and trader performance.
- Payout Frequency: Monthly payouts, with early withdrawals available under specific conditions.
Key Differences:
- Apex’s initial 100% profit retention is more attractive for immediate earnings.
- FundedNext’s payout flexibility increases with better performance.
9. Scaling Opportunities
Apex Trader Funding
- Offers scaling opportunities but does not provide a structured scaling plan beyond $300,000.
FundedNext
- Provides a structured scaling plan allowing traders to grow accounts up to $4,000,000.
Key Differences:
- FundedNext’s clear scaling plan appeals to traders with long-term growth goals.
Conclusion
Both Apex Trader Funding and FundedNext offer unique advantages, catering to different types of traders.
Choose Apex Trader Funding if:
- Futures trading is your specialty.
- A one-step evaluation with no time limits suits your style.
- Flexibility and minimal restrictions align with your trading goals.
Opt for FundedNext if:
- Forex and CFDs are your primary focus.
- You seek structured scaling plans and access to MT4/MT5.
- Lower-cost options for smaller accounts meet your needs.
Each firm has its strengths, and the best choice depends on your trading style, instrument preference, and long-term goals.