DEFINITION
Apex Trader Funding
A US-based futures prop firm offering funded accounts via a trailing drawdown evaluation model. No daily loss limit but a trailing max loss that follows equity highs.
In depth
Apex is one of the largest US futures prop firms, popular for its 90% profit split and stacking model (multiple accounts allowed). Its defining feature is the trailing drawdown: max loss is calculated from the highest equity point ever reached, not from starting balance. This locks in profits but creates an invisible rising floor.
Related terms
Trailing Drawdown
A drawdown calculation method where the maximum loss limit trails the highest equity point reached. Used by Apex — locks in profits but creates an invisible rising floor.
Topstep
A US-based futures prop firm offering funded accounts via a Trading Combine evaluation. 90% profit split and strict no-overnight-holding rules.
Prop Firm
A proprietary trading firm that funds retail traders after they pass an evaluation. Traders pay an evaluation fee and receive a funded account with profit splits after demonstrating consistent profitability.
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