NexusFi: Find Your Edge


Home Menu

 





ApexTraderFunding.com experience and review


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one ApexTraderFunding with 26 posts (25 thanks)
    2. looks_two Baudo with 24 posts (65 thanks)
    3. looks_3 Howard Roark with 22 posts (76 thanks)
    4. looks_4 phantomtrader with 21 posts (18 thanks)
      Best Posters
    1. looks_one Merkd1904 with 7.6 thanks per post
    2. looks_two bobwest with 4.3 thanks per post
    3. looks_3 Howard Roark with 3.5 thanks per post
    4. looks_4 Baudo with 2.7 thanks per post
    1. trending_up 115,472 views
    2. thumb_up 504 thanks given
    3. group 84 followers
    1. forum 265 posts
    2. attach_file 16 attachments




 
Search this Thread

ApexTraderFunding.com experience and review

  #11 (permalink)
Howard Roark
Oslo Norway
 
Posts: 438 since Aug 2018
Thanks Given: 389
Thanks Received: 529

Okay, so I'm progressing nicely one this Combine and thinking all is good, but now I read the pay-out rules which are quite terrible if I understand them correctly.

They say that the first $10K is 100% mine. Great. However, if I read correctly it will take me as long as 4 months to be able to withdraw my money. Actually, it's probably 5 months as the first withdrawal is possible first after 25 trading days.

So, 5 months to withdraw 10K of profits? Yikes.

I can only blame myself for not reading up on all the rules, but this is a huge negative in my book:



One could question the motivation behind such a rule. Are they maybe hoping the trader will go bust by 4 months...?

https://apextraderfunding.zendesk.com/hc/en-us/articles/4405136448411-How-do-payouts-work-

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Better Renko Gaps
The Elite Circle
NexusFi Journal Challenge - April 2024
Feedback and Announcements
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
GFIs1 1 DAX trade per day journal
18 thanks
The Program
18 thanks
  #12 (permalink)
 
ValhallaTrader's Avatar
 ValhallaTrader 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart,
Broker: AMP, EdgeClear
Trading: Futures
Posts: 82 since Jul 2021
Thanks Given: 238
Thanks Received: 123


Howard Roark View Post
Okay, so I'm progressing nicely one this Combine and thinking all is good, but now I read the pay-out rules which are quite terrible if I understand them correctly.

They say that the first $10K is 100% mine. Great. However, if I read correctly it will take me as long as 4 months to be able to withdraw my money. Actually, it's probably 5 months as the first withdrawal is possible first after 25 trading days.

So, 5 months to withdraw 10K of profits? Yikes.

I can only blame myself for not reading up on all the rules, but this is a huge negative in my book:



One could question the motivation behind such a rule. Are they maybe hoping the trader will go bust by 4 months...?

https://apextraderfunding.zendesk.com/hc/en-us/articles/4405136448411-How-do-payouts-work-

Apex has a lot of parallels with Leeloo.

My assumption is that the same capital provider with the identical conditions is behind it. It's like franchising.
Apex and Leeloo can then "work" with these conditions, i.e. pass on their leeway/profit margins in favor of the traders.

Just my 2cents.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
Thanked by:
  #13 (permalink)
Howard Roark
Oslo Norway
 
Posts: 438 since Aug 2018
Thanks Given: 389
Thanks Received: 529



MR79 View Post
Apex has a lot of parallels with Leeloo.

My assumption is that the same capital provider with the identical conditions is behind it. It's like franchising.
Apex and Leeloo can then "work" with these conditions, i.e. pass on their leeway/profit margins in favor of the traders.

Just my 2cents.

MR79

That wouldn't be a surprise. The rules are very similar.

But if I understood you correctly in the other thread you was fairly happy with LeeLoo? They have the same payout structure?

Reply With Quote
  #14 (permalink)
Howard Roark
Oslo Norway
 
Posts: 438 since Aug 2018
Thanks Given: 389
Thanks Received: 529


Howard Roark View Post

They say that the first $10K is 100% mine. Great. However, if I read correctly it will take me as long as 4 months to be able to withdraw my money. Actually, it's probably 5 months as the first withdrawal is possible first after 25 trading days.

So, 5 months to withdraw 10K of profits? Yikes.

I talked to support and they confirmed my suspicions.

If I make $10K in October, I won't be eligible for the first payout of $2750 until end of November at best (need to have 25 trading days first). The next $2750 at end of December. The next at end of January. And the next at end of February.

If I had read these rules in advance I probably would never have considered this program. I figured it was similar to the other programs. I knew there had to be a catch.

Reply With Quote
Thanked by:
  #15 (permalink)
 
ValhallaTrader's Avatar
 ValhallaTrader 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart,
Broker: AMP, EdgeClear
Trading: Futures
Posts: 82 since Jul 2021
Thanks Given: 238
Thanks Received: 123


Howard Roark View Post
That wouldn't be a surprise. The rules are very similar.

But if I understood you correctly in the other thread you was fairly happy with LeeLoo? They have the same payout structure?

For me personally, it's not a problem - we Germans are so familiar with being paid only once a month.

Yes, it is quite similar.
Leeloo the first 4 payouts are limited in the Investor account, with Apex the first 3.
Profit split 80/20 and after 12 months 90/10 with Leeloo, with Apex equal 90/10. I think that is the "leeway" the companies have.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
Thanked by:
  #16 (permalink)
Howard Roark
Oslo Norway
 
Posts: 438 since Aug 2018
Thanks Given: 389
Thanks Received: 529


MR79 View Post
For me personally, it's not a problem - we Germans are so familiar with being paid only once a month.

Yes, it is quite similar.
Leeloo the first 4 payouts are limited in the Investor account, with Apex the first 3.
Profit split 80/20 and after 12 months 90/10 with Leeloo, with Apex equal 90/10. I think that is the "leeway" the companies have.

MR79

I don't mind once per month. That's understandable.

But 5 months to pay out $10K and 6 months to pay out the excess above $10K is not exactly a positive in my book.

Reply With Quote
  #17 (permalink)
 
ValhallaTrader's Avatar
 ValhallaTrader 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart,
Broker: AMP, EdgeClear
Trading: Futures
Posts: 82 since Jul 2021
Thanks Given: 238
Thanks Received: 123


Howard Roark View Post
I don't mind once per month. That's understandable.

But 5 months to pay out $10K and 6 months to pay out the excess above $10K is not exactly a positive in my book.

Yes, that's right, you have to like it.

No, seriously, I'll be making my fourth payment in end October and the last one in November! The Leeloo account will be closed and half of it will go into my private trading account (which can then be traded properly) and the other half to the side.

In fact, the most economical way to trade is with your own account.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
Thanked by:
  #18 (permalink)
Howard Roark
Oslo Norway
 
Posts: 438 since Aug 2018
Thanks Given: 389
Thanks Received: 529


MR79 View Post
Yes, that's right, you have to like it.

No, seriously, I'll be making my fourth payment in end October and the last one in November! The Leeloo account will be closed and half of it will go into my private trading account (which can then be traded properly) and the other half to the side.

In fact, the most economical way to trade is with your own account.

MR79

I understand that.

I'm not yet funded with Apex, but made 7K of the total 9K required this week already, so I assume I should be by next week unless I mess something up.

I will probably just keep the account around in the background and see how it goes, but let's just say I was very disappointed to discover these barriers for extracting my profits safely.

If I trade well - I could simply generate way more profits than those 10K and be eligible for a big payday in the end of March 2022. I don't see why I couldn't have an account around 50K by then. But honestly, I don't really feel safe about that going to happen. I have a hunch that there will be some excuse or accusation of a rule break (high frequency trading) and they will claim their right to not pay me.

Reply With Quote
  #19 (permalink)
 
ValhallaTrader's Avatar
 ValhallaTrader 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart,
Broker: AMP, EdgeClear
Trading: Futures
Posts: 82 since Jul 2021
Thanks Given: 238
Thanks Received: 123


Howard Roark View Post
I understand that.

I'm not yet funded with Apex, but made 7K of the total 9K required this week already, so I assume I should be by next week unless I mess something up.

Great,
I wish you good trades so that it works out the way you want it to.


Howard Roark View Post
I will probably just keep the account around in the background and see how it goes, but let's just say I was very disappointed to discover these barriers for extracting my profits safely.

Yes, this information is of course not what the seller would like to put directly on the main page of the programmes. Many people would probably leave again directly. Whether this is fair is something that can be debated.



Howard Roark View Post
If I trade well - I could simply generate way more profits than those 10K and be eligible for a big payday in the end of March 2022. I don't see why I couldn't have an account around 50K by then. But honestly, I don't really feel safe about that going to happen. I have a hunch that there will be some excuse or accusation of a rule break (high frequency trading) and they will claim their right to not pay me.

That is a very interesting question,
I will keep you updated on whether it worked with Leeloo at the end of November without problems with the payment of the total capital. I'm curious to see if they come up with something else to avoid having to pay.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
Thanked by:
  #20 (permalink)
Merkd1904
Atlanta, Georgia
 
Posts: 94 since May 2021
Thanks Given: 55
Thanks Received: 147



Howard Roark View Post
I understand that.

I'm not yet funded with Apex, but made 7K of the total 9K required this week already, so I assume I should be by next week unless I mess something up.

I will probably just keep the account around in the background and see how it goes, but let's just say I was very disappointed to discover these barriers for extracting my profits safely.

If I trade well - I could simply generate way more profits than those 10K and be eligible for a big payday in the end of March 2022. I don't see why I couldn't have an account around 50K by then. But honestly, I don't really feel safe about that going to happen. I have a hunch that there will be some excuse or accusation of a rule break (high frequency trading) and they will claim their right to not pay me.


Since i signed up i’ve essentially stepped in one pile of crap to the next. Equal parts it being my own haste and not doing my due dilligence, and Apex’s either willful or ignorant omission of key portions of the program.

I’m giving them the benefit of the doubt since they’re so new. I’ve been getting the feeling that a lot of the questions i’ve asked and been ignorant to they’ve assumed were common knowledge, like the “live trailing drawdown” or whatever it was. And, in their defense i was ignorant to it and didn’t do my own due diligence.

But the “sim live” portion was in my opinion another strike as it says absolutely nowhere that when you get “funded” you’re going to still be trading sim. But, also it says nowhere on the site you’ll be trading a live account and they call it a “performance account”. So again, willful ignorance or..?

It does look as if the program is a copy/paste of Leeloo’s. All the way down to some of the verbiage on the FAQ. I had 0 prior experience with leeloo before i took the dive into Apex so it’s all new to me.

The funding rules, particularly the schedule of payouts is something they’ve added post me signing up. But can be countered with the fact they let you trade as many accounts as you want.

I get two accounts across the finish line Monday. I’ll keep this post updated.


Sent from my iPhone using Tapatalk

Reply With Quote




Last Updated on March 1, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts