✅PROP FIRM RANKINGS https://covetrader.com/prop-firm-rankings
Transcript
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What’s going on, guys? So, I know a lot of people have asked me about this. I am doing the Apex trader funding review. Uh, this is part of uh basically you guys asked me to review all these um prop firms, rank them. The link for the rankings is in the description of this video. If you’re looking to get an Apex account, be sure to use code Cove Trader. It’ll automatically give you the best deal that’s going on. Uh, also there’s a
Link to our free Discord and subscribe. I trade live every single day. So, I’m going to give you a real review of Apex from somebody that’s gotten a lot of payouts from them, who’s been trading with them for a very long time, and just my personal experience in general. This isn’t some just, oh, this is the rules. No, I’m going to give you the real review. Um, but first, obviously, I’ll just run through a quick overview of their plans. very simple.
Um, they got actually they have a static account. Never really used it to be honest. Um, you know, I I just I don’t really use Wealth Charts. The only time I’ve used these Wealth Charts accounts is uh when they offer that $16 uh, you know, per account, I’ll get them. I won’t even use Wealth Charts. I bring it up. I basically just hit the buy or sell button on wealth charts and that’s all I care about. I’m not making any decisions.
I’m not doing anything on wealth charts. Um, but yeah, other than that, I pretty much use this. Um, as you can see, this is what we got. I mostly do 50ks, honestly. They uh Oh, there we go. Uh, profit goal 3,000 trailing threshold 2500. Uh, no scaling pass in a day. Super simple stuff. Nothing nothing out of the ordinary. Uh, it doesn’t make sense. Look at the 100K. Like, doesn’t make sense. You got $500 of extra trail, but your profit goal
Is six is double. Like, it doesn’t make sense. This one’s pretty good, obviously. Um, the only other one that I would do is basically the 150s. And then it starts getting a little crazy where like, you know, $1,500 of extra draw down and I need to make $6,000 more dollars. Just not worth it. But I usually stick right here. Um, super simple. I mean, that’s what you got to get. Now, what everybody wants to know is all the rules. Have I
Been denied? Yes, I’ve been denied. Did I break the rules when I was denied? Yes. You got to remember, so real quick, when you jump into some of these rules, first of all, uh, they got the scaling rule. So, basically, like they don’t want you to buy 10 minis on your account as soon as you get it. You can only buy five. You really shouldn’t be buying five minis on a 50k account anyways. So, really shouldn’t even come into play, honestly.
Right? No one’s buying five minis on their their brand new 50k funded account. This is only for funded accounts after you pass. Basically, they run a deal right now. You know, it’s you pay for the account. When you pass, you got to pay a fee. So, then they got this 30% rule. Um, basically they don’t want you to be holding a trade where 30% of your draw down where you go down more than 30% of uh your draw down limit. Um,
Honestly, listen, I’d rather personally I’ve gone down, broke the rule, and saved the account rather than get out with a massive loss. Um, you know, it’s one of those things that in the moment, if you, you know, listen, if you’re revenge trading, you’re an idiot and then that’s what this rule is to prevent, you know. Um, but if you happen to get a bad entry like I did recently and basically uh I did go down 30% and I added at a
Support line and the whole trade turned around. I actually traded covered uh profitably in the trade. Um that it is what it is. I’m going to have to deal with this. I broke the rule. It is what it is. And then once I request a payout, I just trade for I think it’s like eight days, $50 or and you could flip three of those eight days and then I can request a payout. Um, but you know, sometimes you got to break
The rule to save the account. It is what it is, but you know, these rules are here, you know. And then they have a rule for obviously you can’t hedge, no hedging. And then they have a 5 to1 risk um reward ratio basically. uh your stop loss should not exceed five times the amount of your profit target. So if your profit target’s 10 points, they don’t want you to have a 60 point stop-loss. Makes sense. You really shouldn’t be trading like
That anyways. So like they have rules, but you probably shouldn’t be breaking these rules anyways for the most part, right? Um this is the one rule that kind of gets me only because it’d be easier without it. Uh they don’t want you to put orders on both sides. So if it breaks this, you buy. If it break, if it breaks down, you sell. They don’t want you to put those orders in prior. So it makes it that you kind of got
To wait and put it in manually. Especially if you’re playing like the orb, you can’t put orders at the top of the orb and the bottom of the orb. You got to just kind of pick a side and that’s the way you got to go. Um, they do allow you to trade news, but listen, they’ll ask what your strategy is. So, if you’re just gambling on news, uh they will ask and you’ll have to explain why you just went four minis
On a random news event, you know. Uh hey, listen, they’re looking for people to actually trade. They’re not looking for, you know, people they’re just gambling their accounts. So, I I get it. Um all right, payout parameters. Here it is. You need trade at least eight days. Profit on five of those days must show a profit of 50 or more. So basically, you could flip three of the eight days. Uh on a 50k account, you got to get over 50,000 52,600
Bucks and you you can request $500. Um you basically can request down to 52,100. They do have a uh 30% consistency rule. That’s not out of the ordinary. Um basically your your biggest day can’t be more than 30% of your total uh profits. I believe this resets um that actually resets after you take a payout. Uh you’re entitled to you get 100% of your first $25,000 that you get paid out and then 90 after that. So, the profit split in the
Beginning is 100 to you, zero to them for the first 25,000. It’s pretty solid. Um, yeah, I’m just looking to see what other like rules that I don’t even really personally like think about. This is the minimum. This is the minimum uh balance that you need to get to each account to request. I already kind of talked about that. Um, and then these are the maximum payouts. I believe after you’re starting from your sixth payout, there’s no maximum amount. So once
You get to your six payout, you can kind of get whatever you want. Now, someone’s going to ask me where I rank Apex. Listen, they’re not the top prop firm in terms of just what I like trading with because obviously there’s a lot of rules. There’s consistency rules, you know, if you compare it to a take-profit trader with no consistency rules, but they do run crazy discounts. And if they’re if they’re going to charge me $19 for an account plus $65
For activation fee and I have a I have a funded account for 100 bucks, I’m not going to pass that up, people. I’m just not. You know, the the deal is pretty good. So when it’s when you can get a funded account for 100 bucks, 120 bucks, I’m going to take it. That’s what it is sometimes. That’s like, why’d you buy this car versus another car? Well, the freaking price was great. You know, why’d you buy this house instead of the
Other house? Well, I got an unreal deal over here. So, that’s what Apex is. It’s an unreal deal. I do not buy these when they’re not having a deal. So, that’s pretty much where it is. Plus, you can have up to 20 accounts. It’s really nice. And that’s pretty much it. Um, if you got questions about this, comment on the video, ask on the live stream. But, uh, yeah, I mean, this is one of those places that offers great deals, and
I can’t pass it up. And that’s that’s really what it comes down to. I’m not saying that they’re the best. They’re not the worst. They’re probably somewhere, you know, probably somewhere around fifth out of all the prop firms I I trade with. But you know what? They run the best deals, so I buy them. And that’s that’s it. So I will see you guys on the live
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