Scott’s List · prop firm review
The short version. The biggest name in futures evaluations, rebuilt in 2026 as Apex 4.0 with one-time evaluation fees, a choice of end-of-day or intraday trailing drawdown, and a funded stage with a consistency rule and contract caps.
Evidence level: I’ve held accounts here.
What it is
Apex Trader Funding runs simulated evaluations on the major CME futures and moves passing traders to a Performance Account (PA) that pays out real money. In March 2026 the firm replaced monthly subscriptions with one-time evaluation fees and thirty days of access, and split every account size into two flavours: EOD trailing drawdown with a daily loss limit, or intraday trailing with no daily limit during the evaluation. I passed a 50K EOD-trail evaluation in May 2026 and was issued a performance account, so this one I know from the inside.
The facts at a glance
- Evaluation: profit target, trailing drawdown, contract cap, 30 days of access, no consistency rule, and it can be passed in a single day.
- Two drawdown flavours per size: end-of-day (recalculated once at the close, with a daily loss limit) or intraday (tracks live equity tick by tick, no daily limit in the evaluation).
- Resets are unlimited at a flat fee per reset.
- Funded (PA) stage: a consistency rule applies, contract limits drop sharply from the evaluation caps, EOD accounts carry a tiered daily loss limit, every order needs a platform-enforced stop, and idle accounts get closed.
- Payouts: a minimum request size, a set number of qualifying days between requests, a safety-net balance to maintain, and a fixed ladder of payouts with rising caps per PA.
Figures are as published at the time of writing and change without notice. Read the current terms on the company’s own site before you pay for anything.
How it fits the VWAP Wave System
The evaluation is the easy half for a VWAP Wave trader: no consistency rule means one clean A-grade trend day can finish it, and the EOD flavour keeps a normal pullback from bruising the threshold. The funded stage is where the system has to change. The consistency rule and the contract caps mean you scale out earlier than the setup would like and you never let a single session dominate the month. My three-strikes rule and the tighter-than-Apex daily stop in my plan exist because of that stage, not the evaluation.
Scott’s notes
I have held Apex accounts and passed their evaluation. My full notes on the funded stage, the payout rhythm, and what the 4.0 rules changed for a discretionary trader are coming here. What I’ll say now: the evaluation rules and the funded rules are two different games, and most people only prepare for the first one.
Verdict
Provisional, pending my full notes: the evaluation is fair and fast for a system trader; the funded stage rewards patience and punishes size. Plan for the PA rules from day one of the evaluation and you’ll be fine.
Disclosure. VWAP.biz is an independent site written by Scott West, a paying member of Drysdale Trading Group. The VWAP Wave System™ is Chris Drysdale’s work, and this site is not affiliated with or endorsed by him. Links to his book, toolkit, and community are affiliate links: if you buy through them I may earn a commission at no extra cost to you. Nothing here is financial advice, and trading futures carries a risk of loss. Full disclosure · Risk disclaimer
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