Difference Between Apex and TradeDay futures prop firms and what the key elements traders want to know when it comes to picking who you trade with.
Getting funded is no easy feat, so it’s important you work with the right prop firm to ensure you get what you want out of your hard earned time.
Apex Trader Funding Core Features
The core features of Apex when it comes to comparing between prop firms is that this futures prop firm has amazing discounts often. I’m talking sales of up to 90% off on evaluations. They also allow up to 20 funded accounts meaning you can stack quite a sum of capital behind you if you can pass their requirements.
They downside is the drawdown rules are based on open trades, meaning if your open trade pushed up by the max drawdown amount, that drawdown figure will trail all the way to your entry. If that very same trade comes back to break even it means you could still hit your max drawdown.
This encourages traders to take small snippets from the market rather than making good strong trades and bringing stops to break even.
TradeDay Core Features
TradeDay is similar to Apex in a number of ways, from Tradovate platform usage and futures trading, however there are some key differences. The first is the drawdowns are based on End of Day. This means that you have your set figure to not hit as your drawdown for that day. Just avoid that number and you will be ok to come back tomorrow and keep trading. This means finding a good strong trade and moving stops to break even is ok, you won’t lose your account even if you only hit a break even trade like you would in Apex. They also have access to trading coach or trading session (haven’t tried this yet) but it is a good sign they want traders to do the right thing.
The downside is they only offer one funded account max. They don’t offer incredible discounts either.
In saying this, the downsides may be worthwhile dealing with if it means you are able to pass the evaluations and actually get funded. It really depends on your trading style and what fits your methods.
Which will you choose?
If your trading style works for Apex, it’s probably the better choice. If you like to get into a trade and ride it out then perhaps TradeDay will be more worthwhile as it means you are more likely to actually reach the target without getting stopped out.
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