Apex Trader Funding is a Texas-based futures prop firm founded in 2021 and one of the highest-volume firms in the market. On March 1, 2026 it rebuilt its program (“Apex 4.0”), replacing monthly subscriptions with one-time evaluation fees and adding an end-of-day drawdown option. Evaluations are cheap and fast; the Performance Account rules are where traders need to be careful.
Evaluation rules
You choose between an End-of-Day (EOD) and an Intraday trailing drawdown. Each account size has a fixed profit target, a fixed maximum trailing drawdown and a contract cap. There’s no consistency rule and no minimum number of trading days, so an evaluation can be passed in one day. You get 30 calendar days of access from purchase.
The EOD drawdown only updates from your closing balance, which is more forgiving than intraday trailing, but EOD accounts also carry a daily loss limit.
Pricing
Evaluations are one-time purchases with 30 days of access, and there are no resets. Moving to a Performance Account costs a one-time activation fee (reported at $99 for end-of-day plans and $79 for intraday plans). Apex runs near-constant promotions, sometimes with very large discounts, so the list price is rarely what traders pay. Apex 4.0 offers four sizes: $25,000, $50,000, $100,000 and $150,000. On the end-of-day plans, the $50K needs $3,000 with a $2,500 trailing drawdown, the $100K needs $6,000 with $3,000, and the $150K needs $9,000 with $5,000. Every order must now carry an attached stop-loss and take-profit.
Performance Accounts and payouts
After passing, you trade a Performance Account (PA). There’s no profit target, but payouts require qualifying days, a minimum profit cushion and a 50% consistency rule: no single day can make up half or more of your profit in the payout period. The consistency requirement resets after each approved payout. Payouts follow a ladder of set amounts over your first several payouts.
You keep 100% of the first $25,000 in payouts per account, then 90%. You can hold up to 20 Performance Accounts. US traders are typically paid by ACH; international traders, including South Africans, are paid through Plane.
Other rules
Apex’s 2026 program removed the old MAE and 5:1 risk-reward rules. It prohibits placing orders on both sides of a news release, and introduced a mandatory stop-loss requirement in March 2026. Metals trading has been suspended at times. Legacy accounts bought before March 2026 keep older rules.
Platforms
Apex accounts connect through Rithmic, Tradovate or WealthCharts, which lets traders use platforms such as NinjaTrader and TradingView through those connections.
Trading Apex Trader Funding from South Africa
Can South Africans use Apex Trader Funding?
South African futures traders use Apex, whose evaluations and Performance Accounts are simulated. Check Apex’s restricted-countries page before buying, as the list can change.
Paying the fee in rand
The one-time evaluation (frequently discounted) is priced in foreign currency, so the rand cost depends on the exchange rate on the day and your card’s foreign transaction fee. Paying for an offshore service by card counts toward your annual offshore allowance under South African exchange control, which covers most traders’ challenge fees comfortably.
Getting paid in South Africa
International traders are paid through Plane, Apex’s international payment partner, with an invitation sent after the first approved payout. Apex has changed payout providers before, so check its payout articles before requesting funds.
Best trading hours in SAST
US index futures are most active after the New York cash open at 15:30 or 16:30 SAST, depending on US daylight saving time, so most South African futures traders trade late afternoon into the evening.
Tax on Apex Trader Funding payouts
SARS generally treats prop firm payouts as income, not capital gains, and you must declare them even though no tax is deducted. Because the income isn’t a salary, you’ll usually need to register as a provisional taxpayer and submit IRP6 returns, with payments due by the end of August and the end of February. Convert each payout to rand at the rate on the day you receive it, keep records of fees you’ve paid, and speak to a tax practitioner. This isn’t tax advice.
Regulation
Apex Trader Funding isn’t authorised by the FSCA. The FSCA supervises brokers and financial services providers, while prop firms that sell evaluations on simulated accounts generally fall outside its licensing. That’s legal for South Africans to use, but it means no FSCA complaint route or ombud cover if something goes wrong, so a firm’s track record matters.
Who Apex suits
Apex suits futures day traders who can pass quickly and want to run several accounts at once. It’s less suited to traders who make most of their profit on a few big days, because the 50% consistency rule delays payouts.
Apex Trader Funding FAQ
Is Apex Trader Funding legit?
Yes. Apex is a US futures prop firm founded in 2021 in Austin, Texas, with a large payout record. Read the Performance Account rules carefully.
Does Apex have a consistency rule?
Not during the evaluation. Performance Accounts use a 50% consistency rule for payouts, which resets after each approved payout.
What is the Apex profit split?
You keep 100% of the first $25,000 in payouts per account, then 90%.
How long do I have to pass an Apex evaluation?
30 calendar days from purchase. There’s no minimum number of trading days.
Can South Africans use Apex Trader Funding?
South African futures traders use Apex, whose evaluations and Performance Accounts are simulated. Check Apex’s restricted-countries page before buying, as the list can change.
How are Apex Trader Funding payouts taxed in South Africa?
SARS generally treats prop firm payouts as income that must be declared, usually through provisional tax (IRP6). Speak to a tax practitioner about your situation.