What’s up with Apex? Alon Bar meet Darrel Martin Jr to get some answers!
https://www.youtube.com/watch?v=lAoKN03OYBg
(00:03) no I’ve never been there oh so you just learned Hebrew right yeah I I learn I I studied Hebrew for in college so for six semesters so but uh wasn’t really speaking he it was more just reading you know like the Torah and all that so so let’s just uh let’s begin just making a small announcement so welcome everybody uh we have people mainly from Israel but from all over the world uh
(00:26) see someone from Romania UK new land and many more thank you for joining us and special thanks to Mr D Martin who AC accepted my invitation to make another zoom zoom session uh for Q&A about everything that’s going on with Apex we have U about about 17 questions and few personal questions after it uh if you have any questions that you came up uh during the the zoom me type it into the chat and if we have time I’m
(01:03) going to go through it so Mr darel how are you I am doing fantastic how how things going on in Apex things are going well things are going really well uh we have a whole new technology team that is building it up um and getting ready to launch just a lot of new stuff new site new back end um we’re getting ahead of everything instead of being behind everything I guess we just we grew so much so fast at
(01:32) the beginning of this year like we just we doubled in size in a matter of a couple months and um so we’ve staffed up we’ve hired over a 100 new customer service reps uh so that way we can start responding to tickets faster and getting all so we’re getting all them trained so it’ll take a minute but we’re getting them all caught up and U we’re get the technology where it’s going to be a
(01:50) whole lot faster uh we’re going to be adding on a whole another um option besides trade rhythmic so that’ll be coming out hopefully hopefully before the end of the year so I’m hoping to be testing that um this week so I think we got the programming done we got to test it out and it’s it’s a really really cool um platform and uh gives us all sorts of analytics to be a front of
(02:14) stuff because what we want to do is um you know like when there’s denials right we want to let people know our goal is to let people know up front hey you violated this rule I change this action before you come to your request for pay so that way you don’t get them right instead of you get you put it in you’re waiting for five or 10 days you know and then then you get denied and you’re like
(02:40) well I wish I would have known like 10 or 20 days ago so we’re trying to get it to where we can get everything up front and automated so that way like say somebody does DCA like hey you did DCA once don’t do it again but just you know just a reminder of the rule up front because somebody maybe they knew and they don’t know you know and stuff like that and so just to get people like where they know what’s going on on their
(03:05) account as it’s happening versus having to wait for a reply from a request because when you put that payout request in you’re expecting to get paid right and uh and so we want to pay so we just got to have people following the rules and the reason the uh the rules have come about is there’s a lot of Regulation coming um we just submitted a 30 page document to the CME so um and they want to see a lot of accounts
(03:30) moving to Live okay and I’m not just staying in s and so we’re having to basically make it to where people who were using the account as sort of just a simulation blow it earn another paycheck blow it earn another paycheck blow it earn another paycheck we can’t do that if we’re going to live right you need to be able to keep that account going and so that’s why a lot of the new rules have
(03:52) come about because we’re going to start moving a lot of we’re putting the plan into place to where people start graduating into live like constantly so and U which we’re pretty excited about and that’s where I mean most Traders come anyways like you want to trade live but you don’t have the money well now let’s get you to live you know and um and so we’re helping shape that
(04:10) regulation a little bit by having a lot of input on that um not that we have any control over it but um you know just you know staying ahead of it and um trying to make sure we’re on the up and up in everything that we do sounds great you just answered about 15 of my 17 questions [Laughter] okay so I’ll start with my first questions but before just want to make a small am announcement H currently
(04:39) there’s a war on about seven fronts in Israel including all our surroundings we still have more than 100 actually 101 hostages still held in Gaza and we hope to see everyone coming back in a good shape good health and send peace to to all of our troops and all of the fronts and that all of this uh shitty situation will get over it and everything will be okay finally some someday hope it will be very very
(05:10) soon um okay so um first question is does Apex in the intention of Apex is to be a a company that new Traders come to to try new things to study to learn or is it some sort of platform that experienced Traders sport Traders can come and do scale themselves both so new Traders come and learn um you know that like that’s why we don’t have a limit on evaluations um unless somebody’s like
(05:42) earning and burning earning and burning earning and burning um or if they’re about to be moved to live then we’ll say hey okay we’re about to move you to live you’re not gonna have it you can’t have evaluations and live at the same time it’s not a while so um so definitely for new Traders and then for experienced Traders sharpen their skills and and get more Capital so they can
(06:03) leverage and hopefully the new Traders become the skilled traders that you know get more capital and can Lear so the problem it takes times it takes time and yes yeah trading is definitely a skill that took me quite a bit of time to get down takes everybody time to get down yeah I think it’s a lot easier to lose 30 bucks than it is to lose 2500 bucks every time so I remember last zo that you said that you went to a prop firm on
(06:27) your early days and you got 300 on your first month which is super fast for me it took about eight months to get my first payout of 2,000 so right I’m just living it you know play it safe slowly slowly but surely so I guess yeah it wasn’t my first month I got that it’s once I got that then they C out but yeah oh okay I just today I watched the the the interview that John made it’s a
(06:57) hour answer a lot of questions over there instead it’s like taking the State of Mind of Apex and and giving a lot of explanations about uh recent events that happens in on apex a lot of answers I would recommend everybody to watch it if you didn’t for our community we already sent some summary of it um yeah we’re trying to be very transparent just letting everybody know hey here’s why
(07:20) things are happening here’s what’s going on here’s why the you know the why behind the what so it doesn’t just seem like there’s some nefarious you know bad intent so I know there are there are actually really good reasons for this and it’s really good for Apex which means it’s really good for you because it gives the longevity of Apex okay we have few traders that got
(07:41) the denials yeah and from their perspective that the reason for the denial is is not justified like for for for example the number of contracts they using so if someone feels that the denial that he got is not accurate or how can he appeal about it how can he who can he uh come in front of can can he do something about it I mean he can reply back to the help desk and explain why that it’s not justified and they
(08:14) maybe reply back with why it is so they’re pretty careful about denials like if I mean if somebody’s going to doing two and all they’re doing 10 or 20 you know and then they’re going back to two then that’s obviously not trading at consist size that’s loading up going for an All or Nothing stuff like that and uh not to gas out anybody but you know some people will make a bigger deal out
(08:40) of getting denied and not quite tell you the whole story you know whereas we may have the whole story on why they got denied they know the whole story on why they got denied but they’re not happy that they got denied so therefore they’re going to go complain really loud about it make it like it was you know unjustly denied so um just take that into account that there are two sides when somebody’s
(09:01) reporting something that they may not be giving you all the details all right so if there’s situation like this happen can they so they need to approach the help desk because they say that the help desk is given an answer stct answer about not it’s not their you know not their specialty they need to to to confront to the compliance team or some other place so you say basically the denials are not
(09:29) not Fin and you can appeal about your denial if you feel that it’s not justified if you can have the the proofs and and statement from you have a proof I mean you can feel free to submit it so yeah and occasionally we do overturn one but I mean it’s not often so because when it’s done it’s done for a very specific reason so I mean we’re looking to pay out and we paid out $90 million
(09:49) in the last three months so it’s not like we’re not paying out so you know you hear about you know dozens of denials but you don’t hear about tens of thousands of approvals so obviously if we were looking to just deny people you wouldn’t be seeing like now if you hop on like our Facebook page you’ll see constantly people getting approved so posting their approvals or YouTube has constant you know like
(10:12) interviews of people getting approved getting paid all that stuff so I mean think about it there’s $90 million getting paid out over three months so the denials are not as bad as people are making them out to be it’s just the people that are getting them are very upset and they violated the rules somehow and that results in a denial and they’re able to fix it so we didn’t deny them and take away
(10:35) their money and close their account which we could do right other companies do do that so I saw a company the other day and said hey you traded through NFP d d you trade the NFP we’re taking away the $4,000 you made you know like they took it away we’re not doing that we’re not saying you can’t get paid we’re just saying hey you violated this rule here follow the rule make another request get
(11:05) paid that what’s exactly what John said in the interview uh that was published U um so regarding this process of the Deni is it automatic is it someone that doing it because every account is look through manually sorry we have reports that help us but every account has looked through a manually so something you said that this this process is supervised and there’s a little room for L about Den right yeah
(11:36) yeah supervised the rules are laid out I mean all that I mean it’s it’s all the stuff that we put out there so there’s no like there’s no subjectivity I get it is what it is uh that’s one like you can try to dispute it but I mean you’re better off just focusing on your trading and getting the next approval so uh you know denials are they became a big deal because we
(11:58) actually started doing them because we found so many people were whether it be unintentional intentional whether it be a scheme a scam or just I just didn’t know you know whatever but they were taking advantage of the system and instead of treating it like a long-term relationship of I’m going to build this account up over time and you know they’re going in and like hey I’ll get my $2,000 paycheck and I’ll
(12:22) burn an account and I’ll I’ll have 50 in backup and I’ll just keep doing that you know whereas we’re wanting to build relationships build accounts build people into life and we have to have consistency for that and we as a company to survive think about this I mean we don’t want to live on fees right so to survive good Traders which we want good Traders we have to have them consistent
(12:48) so that way we can put them into life but if we put everybody into life that’s not consistent then they just blow money and then so you got to think about like do you want a company that’s going to be around a one time to be able to pay out big paychecks and everything else well that can supply those funds for you well to do that then you need to be able to be somebody who can stick around and you
(13:07) know keep something consistent um so it’s it’s more of the people that are just very volle in their trading size they’re very they have very we we know just about every scam that’s out there you know and I don’t mean people are scammers I don’t want to put it that way but we know every way that the system can be worked um even though we do find new ones it seems like every week but uh you know we
(13:34) tried to make it really easy and some people have taken advantage of that to where they’re trying to make it okay how can instead of me making this a trading career you know where I can make money on a consistent basis how can I just work this system to pull money out you know we’re not trying to be a casino you know we’re trying to be a trading platform to empower new Traders and existing traders to be able to trade in
(13:58) Live accounts without having under risk of their own money in the process and to be able to do that over a long period of time okay sound great regarding all the situation with the bond Futures uh can you elaborate a little bit about what happened and why did you decide to to Cease the trading on the bonds and do you have anywhere in the future intention to bring them back again uh right now there there is an
(14:28) error and the bond Futures it’s the it’s not really an error it’s the way that the CME calculates the settlement of each contract order okay and in live it wouldn’t matter but in simulation it allowed people and there was about a 100 traders that figured out probably a couple traders that then spread it to about 100 traders that figure out how to manipulate it in the Sim environment and so they were literally
(14:58) manipulating the Bond settlement method to be able to grab like two ticks above the market and sell it two ticks below the market and buy it and until we the platform fixes that issue to make it a straight you know order matching process then it won’t work on Sim correctly and we’re not the only company I don’t know if you know that but there is like half a dozen companies that stopped trading
(15:21) bonds because of this because we made an announcement about it um so basically there there is a due to the way it’s settled it’s really complicated but do the way it’s settled um on the FI prices where it uses an average versus an order but Master’s order it allowed a simulation loophole and so people were going in and basically just like you know taking money out of the system not really
(15:46) trading it but just taking it out based on the wle and so we had to shut it down until the uh platforms get that corrected so it’s it’s situation regarding the the CME about the situation you need the CME to do something or no not the CME it works you can’t do what they’re doing on a live account they wouldn’t get filled but on a simulation account you can get filled at a false
(16:12) price like a better price than what’s really available and so the platforms are going to have to change from using the CME Sim the CME settlement method to using a method like es like where it matches the price like by buy to sell and until they change that on the bonds we can’t open it up because people are literally going in stealing money in the process so you have any about 100 people run it for everybody if you want to put
(16:42) it that way expectation about when the they gonna fix it we have no control over the platforms we turn it into them and then we just got to wait on them to get it done um okay next question we get a lot of complaints about uh the support team and I watched I watched the interview yesterday he said uh because a lot of things happened and you didn’t Apex didn’t came ready to the situation that it qu rippled themselves
(17:14) in a very short short yeah and so we had crappy customer service in the process yeah so what’s what’s going on in this field in the so now we’ve hired 100 new PE over 100 new customer service reps they’re being train trained up um as they’re trained up you’ll get more qualified responses and you’ll get faster responses so you’re growing up from four
(17:37) customer service to 100 uh about eight but yeah but yeah literally we just we went and bid 10 times the amount because what I want for our customer service team to do and I don’t know how long it’s going to take to do this but once we get the online customer service at a level that I think for myself as a customer would be satisfactory right getting you know fast apply getting detailed replies Good replies
(18:02) then I want to open up the online chat for customer service and I want to open up the phones for customer service so I’m trying to get to that level so I don’t know how long that’s going to take because I want every level to be done right versus if I just open all those up at once then none of them are going to be good right so we’re getting the online customer service where it needs
(18:22) to be with all the growth that we’ve had I mean we’re 10 times as big as the next largest company out there literally so we know the numbers because we know the Brokers we know the platforms and we literally 10 times the size of the next largest company um so nobody’s facing any kind of challenges like we’re facing as far as size and uh to me that’s an opportunity just to do better you know
(18:46) um so that’s why we went in and did a massive hiring spree and we hired customers a lot of people we hired were custom like everybody we hired I think was a customer um so people who know the product know how it works are passionate about it you know and uh but then also have education everything else we hire people across the across the world so we can have that 247 coverage um so as that as they learn the skills and as they
(19:11) learn to use the systems build a research stuff that’ll improve um our reporting with our brand new we have like eight new U programming staff um as they build better reporting systems things going to improve um like I said denials will improve because we’ll get to you before you get to a denial you know we’ll be able to say heyy you need to fix this you know before you ask for money because this is going to
(19:36) happen and so that way you’re not like surprised on because it’s really frustrating to request money and get denied when you had no idea that was coming but if you’re like hey okay I need to fix this and so we’re working on automating reports right now to where people can get like same day notice you know when they violated something you know and again we’re not looking to
(19:55) cancel people or take away their money we’re just follow the rules be cons we’re trying to train consistent Traders and all of our rules have consistency in them you know they’re built for what do smart Traders do um one of the questions that was asked over here was you know what size do you consider consistency we understand you’re going to change size I mean if I’m risking
(20:17) $300 um a trade and one trade has you know four ticks risk and one and one trade has 12 takes risk I’m going to have different size on those trades right because I can size that the way you should always determine your size is based on your risk you go risk and then divide it by tix and multiply it into size so we understand size is going to change but we’re talking about drastic size changes people going from N9 to 99
(20:43) you know um stuff like that so it’s when people are being very erratic um not being risk management adjustment like that that just makes sense there there’s no problem we have a a specific question about this situation that because you mentioned mention it so if someone The Profit Target is let’s say 100 and the stop loss is 200 and he’s currently trading only one contract if he switch
(21:07) to let’s say five contracts but the the target stays stay the same 100 to 200 should he expect a denial or or is it well is he like doing that once or is he doing it constantly I me why why is he changing size on the exact same risk model I think it’s one better results faster result you just want to make more money is he GNA consistently trade that size yeah he wants he wants to scale himself
(21:33) up so he switching to yeah you can scale up that’s not a problem and you can scale down too but like you can’t go from like one to 10 to okay I’m just gonna do one you know so 10 times is it’s not good but four or five times it’s okay yeah I mean just it’s well I mean what would you do with your own money in a live account if you wouldn’t do it with your
(21:57) own live money don’t do it in ours because we’re trying to move you into Li andan that and that’s sort of the the common sense rule that we’re applying across everything you know is this something that you would actually do in your own account would you would you go with one contract for one day and then do 20 contracts one day and then just do one contract for the next nine days no you know not unless you’re just
(22:22) you’re being crazy the one day you do 20 contracts so that’s just you trade a consistent SI so now again you may adjust that size based on risk but uh you know just randomly adjusting it from one to five I mean if you’re doing five five five55 3 two one one 3 five two one yeah we don’t care I guess it’s it’s some point when you have a a lot of cushion in your account so you have enough to enough
(22:50) draw down I think the scaling up with the contracts is is is a basic thing to do that’s exactly so so as you like once you’re in a PA account or a live account of course then and you build your buffer yeah it just makes sense to size up in contracts right that’s sort of what you’re that that is what you’re supposed to do that’s that’s the goal is to compound your profits less trading more
(23:14) size more money so yeah that’s definitely like we see TS do that all the time so they’ll start out they’ll be trading like one to three contracts and then they build in like a$ 10,000 $20,000 buffer and all a said now they’re going four five six seven eight eight nine and if they lose some then they scale down and they may they go on a winning streak they scale up you know so yeah I mean that’s definitely that’s
(23:36) when your size definitely changes so when you’re in that like trailing draw down area where your risk is always the maximum amount that say like $2,500 that’s not really a time to be sizing up and down real big you know that’s time to be like very consistent and get a buffer because that’s what you should do as a Trader in a live account you’d want to First protect all all your
(24:00) earnings then have profit to risk versus risking your original capital yeah ER traders that got the that are prohibited to buy H new evaluations accounts if for some reason their pa accounts are getting burned that’s the meaning of it is that they cannot do uh business with Apex anymore um well there’s two reasons for that one is either they’re going in and they’re earning and burning their a
(24:31) their pa accounts like they’ve earned and burned like a hundred of them they’ll go in and they’ll make $2,000 below the account do another evaluation make 2,000 below the account do another make $2,000 below the account that’s literally all they do okay they’re not trying to have any consistent long-term trading or they’re about to be moved Al live and we’re evaluating them and you
(24:51) can’t have evaluation and evals at the same time so we’re about to move you to live and so we’re just monitoring you for consistency and we don’t want you spending money on something that you’re not going able to use so if a situation like this happens it means that the trader cannot continue to trade with Apex right now they’d have to make an appeal if they blew all their
(25:12) pa accounts oh so okay there’s a situation there’s a an exit yeah okay great um can you elaborate a little bit about the all the probations process that happening what happens after 30 days what will allow traders to pass this probation and what will make them not to pass it and if they don’t pass this Pro probation then what H what’s what’s going what’s going to happen with
(25:43) them um well then either they would remain on probation their account would be closed depending upon what they’ve done in the last 30 if they’re on probation and they’re just breaking the rules constantly well then okay let’s just call it a day part ways um if they’ve made improvements then they’ll be taken off prob and they’ll be able to continue with their accounts like
(26:01) normal so the prob probation status and the the situation that they cannot buy another evaluation accounts are are separate totally separate oh yes us usually they came as far as I know they came together they can okay so okay in the probation status the Traders have to have a a cushion of above $2,600 why have a yeah correct why why did you set the this Rule and because they’re earning and burning and so we’re basically
(26:49) making them we a buffer in there um every other company actually does this on everybody so uh we’re only doing it on people on probation so um where they have to have a a support level in there so that way they’re having to earn more and then they keep that account longer because they’re not drawing it down to 500 bucks and then blowing it the next day so they go make 4,600 they withdraw 2,000 they
(27:17) still have $2,500 and they can last because we want them to get multiple payouts for a long time on the same account not one pay pay out blow account one payout below that account one payout below that account so that’s the whole point of the probation is like hey let’s get you to a point where you know you are able to consistently get payouts on the same account because we want to move you to
(27:43) live so is there any uh indication that someone passed the the probation status um yeah what’s up so he should expect an email after 30 days or more yeah and he can always request it hey have I passed it am I good you know you can always ask okay and can you explain a little bit about the buffer zone in the probational status I I don’t know what the meaning is the buffer zone again is just there to make sure they
(28:14) don’t earn and burn the account like they’ve probably been doing a whole lot of so we want them to get multiple payments on one account not multiple accounts and multiple payments and you I mean what I mean by that is like I earn earn one I lose it I go get another one I make money I lose it I go get another one I make money I lose it it’s like why do not get one account and make money on all three
(28:38) that’s somebody we can put into live and that’s healthier for the company which is also healthier for the community and the Traders because that means we’re doing well so we’re able to you know pay you well so basically the way and we’re developing good habits in the trader by having them learn how to manage their risk and manage their profit so that way they can you know
(28:59) become a long-term successful Trader I think most people here are wanting to be wanting trading to be probably their primary inome source so learn how to do it the right way so whether you’re trading with Apex or on your own or somewhere El whatever that you’re doing well we just want you to be successful and successful is not I make a withdrawal and I blow my account I make a withdrawal and I blow my account
(29:25) successful is I make a withdrawal and I make another withdrawal and I make another withdrawal and I make another withdrawal you know and so we’re really pushing those successful principles probably the only company really pushing those successful principles as Traders for Traders so so many of them are out there like they they’d rather you blow through and blow through and blow through and blow you know again
(29:50) regulation isn’t going to allow that very much long okay we know this we’re talking to them and they’re not going to allow these companies like these compies don’t even have path the L they’re just going to be shut down you know um and even the platforms are starting to vet they’re just now starting to vet who they’re allowing to come on so all these pop-up Fly by Night
(30:11) companies you know most of them are going to be gone um and a lot of new ones are no longer going to be forming because they’re starting to deny people because we want to keep the industry clean because we don’t want it to be over regulated so we gotta make sure we have a good clean industry work with and you know the CME goes are you creating live Traders you know are you creating volume for the
(30:36) exchange or you just creating a video game which one are you doing you know and so they want to see a path that the company has for creating volume on the exchange that’s the reason that the prop firm companies should exist according to the CME and so we have to go okay if we’re going to move people to Wi then we got to make sure that they trade like a wife Trader should be Trad and so that’s the reason for the rules
(31:00) is to you know help develop Traders and make them better and I’ve had a ton of people talk about how the rules have made them much better Traders so not like doubling down doubling down doubling down DCA 10 times over it’s like yeah it works nine out of 10 times but the 10 time you below everything you ever had you know stuff like that um so question about um when when people got an house and they get a like a title
(31:32) like Risk Management and they asking if you can uh on the team can be spec more specific or maybe show them about a trade that they’ve done so and in instructions about how to fix it because many times they get a denial reason and they know don’t know exactly what to do with it they don’t know how to to fix the situation they’re not sure about the rule they have broken so okay so it’s not specific enough yeah
(32:01) exactly okay yeah that’s let me bring that back to John and see if we can get I know some of the reports are being made to make that easier um and again the big report remember the big thing I was telling you is what we’re trying to do is get to where the reports are able to tell you what happened before you ever even get to pay up request so it’ll it’ll those reports will be like hey
(32:21) this trade this example this this you know um so that is coming and it’s coming to be faster than after you requested money which will be a lot more helpful for you as a Trader but let me see what we can do about getting specific on the the denials themselves so before we get to that point but we’re trying to get to that point where we can automate this entire process and people will know what’s going on on their
(32:45) account before they ever get to the request stage so that way they don’t have any guessing or wondering or stress of am I going to get approved or now you know the idea is my my goal is if you got to the point where you could request an a payout it gets approved so we’ve given you enough notice on everything that you you should know so um not where you’re worrying about getting approved and again
(33:14) remember there’s you know $30 million being approved every month so we do hear about the denials but there’s a lot more a lot lot lot lot lot more people being approved yeah and okay after someone got a denial can he just trade another 10 10 days and follow the rules and then the second time he second time he requests for a payout it’s supposed to be okay right it should be yeah uh great since you mentioned the
(33:48) regulation um so do you think the regulation in this field will going to hurt the Traders or will be benefit and and I understand that the all the probation status are related to the to the new situation that going to be after regulations will step in right I think it’ll be good for the Traders uh one I think we get rid of a lot of the scam companies that are out there um and it’ll look for companies
(34:16) with best practices sort of like Apex is putting best practices we’re putting rules into place that Traders should be using in their own accounts so and some people don’t like that they’re like I want to trade the way I want to trade the way you trade close all your accounts and that’s why you’re with us so we’re trying to teach you how to trade better you know um and
(34:35) so I think it’s going to clean up the industry I think it’s going to make the I bet there will only be a handful of companies that survive like maybe three or four that survive the regulation um and that those companies will be enforcing more rules like we do um because they’ll have to to be able to keep up because CME wants to see best practices they want to see a service that’s helping Traders helping the
(35:00) exchange um get volume you know everything else and um not just you know evaluation notes so so so the regulation is from the SEC or for the CME or from which um it’ll probably come from the CME C so basically the partnership with the CME is their intention to add more volume more traders to to their to their Stock Exchange yeah great um you have any new ways about enforcing the holes or do you have any intention
(35:37) about getting uh people to have more uh multiple accounts or less multiple accounts like what’s the direction that you think that we’re heading to um we’re seeing how as we Implement these things how they go so uh I mean somebody’s on probation we may limit the number of accounts they can have but beyond that I mean I feel okay with 20 accounts or PA accounts um and then um you know we may limit
(36:07) them number of evaluations to you can only have 20 at a time you can have as many as you want 20 at a time the simp people will get like a hundred and those are the ones that are earning and burning earning and burning earning and burning right they’re just like okay I burn it I don’t care I got another one I earned it I burned it I don’t care I got another one you know um and those are
(36:23) people that are they’re working the system you know they’re not trying to become good consistent Traders so and I mean we’re just we’re passionate about making good consistent Traders and that’s what we want to do and uh and we’re not the evaluation I mean it’s really simple it’s made just to be can you make so much without losing so much you there’s really not much around that
(36:44) but once you start getting paid it’s like okay now you got to start acting right we know you can hit the right buttons we know you know how to make money we know how you know how to not risk money stuff like that and we can make the evalu a whole lot harder you know but then you’re paying all this money for evaluation with no opportunity for profit so we keep the evaluation simple and then give you the opportunity to
(37:10) earn money but with some guidelines that any good Trader should actually want to you know Embrace when you when you say earn and BR you mean performance accounts right no not evaluations because evaluations right yeah we don’t care about evaluations so I mean that’s just can you can you hit the right buttons to make a profit without hitting a loss great great H can you picture what is the the the main goal of Apex I mean
(37:42) how do you see Apex in the future on your vision like a thousands of successful traders that uh you want to copy trade them or like uh a house that the new Traders can can study and you know uh give birth to the give birth to the new generation of Traders like what’s what’s the vision in your my my vision is tens of thousands of live Traders um making hundreds of millions of dollars a month can can you picture how is it to
(38:15) be a live Traer because I don’t think everybody knows what’s the meaning of a live account or a live it’s trading the same as PA except for your order actually goes to the market and has to be filled by somebody else so you have only one account and what’s the draw down uh you can actually have three accounts in live and what’s the draw down number of contracts or is it uh you’ll you’ll get
(38:38) the we’ll start you off small but then we’ll build it up for you so let’s say you have 20 accounts we’ll build it up and build it up and build it up for you because we want you to get used to it because again we’re training you to be a life professional Trader so but I mean if you had you know 10 accounts and I mean you could get up to 300 contracts you know but you got to we want you to
(38:56) know how to handle that volume because that volume has to be there for you to get filled on it in a live market cool what do you think that customers uh most appreciate on apex and what do you think customers are less appreciate about Apex um let’s see most appreciate that we have been a we’ve been the driving leader in the BR firm space as far as making systems rules developing stuff putting stuff in place that truly
(39:29) benefits Traders and that’s resulted in the biggest payouts of anybody combin like everybody combined we paid out more money than everybody every other company in the industry combined ever um just us so I think payouts um making a system that you know generates massive payouts is what is most appreciated I think what’s least appreciated is probably the part of we’re actually compassionate
(39:52) about making you a consistent Trader equipped for the live market and and some people just they don’t like discipline you know but that’s what a good Trader is good Trader is disciplin so um and that’s where some of the denials and some of that stuff comes in place you know of hey you got to learn how to do this right so I think that’s probably the least appreciated nobody likes having to learn um to do things
(40:15) the right way you know but everybody appreciates Having learned it once they’re making money and getting paycheck after paycheck after paycheck think it’s like in school or in the Army when you when you go to training uh to training session you hate it you hate it you need to study you hate it you need to uh to get discipline but I think eventually for for us that have served the Army the the training
(40:41) session is the most appreciated one after but you you don’t see it when you do it you don’t you see it only maybe years after only years exactly um okay what do you think are the biggest challenges there Apex is heading on in the near and in the far future and how do you think about dealing with it uh I think challenges are just continuing to grow with the growth that we have uh but we’re we’re handling that
(41:13) really well uh constantly innovating with new technology um to stay up and stay ahead of the market um and just making our risk analytics really good we brought in some really good people that have worked for exchanges um that can really help out with risk analytics and brokage firms and stuff like that to just basically put the company in the healthiest State possible for the long term uh because as it gets bigger and bigger that actually
(41:42) helps us because it helps Delta neutralize our risk um so you know um and then just I think being better at communicating why the changes are happening when they happen I think that’s where we dro the ball more than anything um is we just sort of said hey here’s what we’re doing here’s why we’re doing it it’s done instead of like really I don’t know just doing a better
(42:11) job of communicating so we’ve had you know we’ve been working on that that’s why like John did that big interview you know and why I’m doing this interview um and you know we want to get we want to get a lot better at communicating what’s happening and why it’s happening like a lot of people don’t know that the CME is looking to make sure that prop firms are
(42:29) Trad converting people to live that they’re creating live volume that you know all this stuff and so therefore rules need to be put in place to maintain healthy traders that are going to go into Al for the pl for to stay in business you know they don’t know that they just see a rule put in place you know so we need to communicate that better get that out there and uh and I that’s that’s why I’m on here
(42:53) today thank you for that again and [Music] um one second personal question about you’ve been a CEO so what makes you the most uh joy in your role and in your you know everything you’ve done with Apex um seeing the lives changed so I mean I get tons of stories from people that I mean from people that were homeless like live like jumping from Neighbor House to neighbor’s house you know living out of their
(43:28) car um you know that make $40,000 in a month and it turns their life around you know uh people whose wives are getting to quit their jobs and stay home with the kids um people who are retired and making more money now on their W withdrawals than they were on their Social Security checks um you know people would be able to fulfill some of those life goal and dreams and get that car they’ve always wanted that Porsche whatever you know um
(43:53) so and all those things come back to what’s important to you and why want it and everything else but I think just being able to help people uh you know the tune of paying out what we paid out like $330 million I mean I never dreamed it would get this pick when I first started it so I just wanted a company that was good that helped out Traders and uh so to see I mean we’re already you know a third of
(44:14) a billion dollars paid out in you know three years so which is which is pretty cool in Israel sheel is over a billion so you can say that you already got more than billion payoffs yeah now I can’t wait yeah it is a goal what are you most disappoint about your like same question about disappointment disappointment about Apex yeah like what do your least what is your least favorite thing as a CEO and as a found oh least favorite thing as a
(44:49) CEO um having to tell people no so like sorry you broke the rules no because they’ll come to me they’ll P to me they’ll direct message me you know um and I’m like dude you broke the rules you know and I feel bad for them they’re like but I really needed this money and I’m like you really should have followed the rules I’m sorry like that’s that
(45:08) hurts like I don’t like doing that er do you currently trading on apex accounts or Live accounts I trade my own accounts yeah do you think that today’s darl would have pass the evaluation and all the rules that Apex is setting what’s that the question is if do you think that today’s darl it will start as a beginner will succeed in getting payouts and passing evaluations using oh
(45:43) yeah um what do you want the CL the clients and Traders say about Apex in five years from now I want them to say they have great payouts fast payouts great customer service awesome communication and stable technology what is the most difficult ER decision business decision that you that you made until today I think the most difficult decision was to have to deal with the people who are work in the system and start enforcing payout Like rules
(46:29) because we had them there since the beginning but we never really enforced them but what happened was some YouTubers got together and started spreading bad you know practices and it got so big that it like okay we have to take control of this and so that was that was the hardest decision that caused a lot of the drama that’s happening right now but it’s also queening out now people are seeing faster payouts better payouts yeah
(46:57) when now we’re getting to where sometimes like we’re approving payouts within minutes payouts are there the next day so we’re getting a lot faster every time that you you change something in any field not not just in in Apex and trading every time you change something to people people get upset and and get angry so if you involve money in it it’s like uh putting gazoline in the fire
(47:21) yeah I know right yeah so it’s it’s like the book U who moved the who of the cheese I think that’s the name in English a great book about someone that someone about two mouth that’s someone moving their cheese then they don’t have cheese anymore they need to to find new ways book about change changes and and stuff really really good book what is it called I think the translation to
(47:45) English is who Moved My Cheese but I’m not sure oh really yeah I think I’ll check it out and I’ll let you know and regarding books what is the the book that most affected you you as a Trader um what book most affected me as a Trader yeah like you recommend for any Trader to to read or it doesn’t have to be a book it can be anything else any educational uh um mind games so it’s a it’s a book about
(48:24) trading psychology my you remember the name of the author see one second look it up the name of my book is Mark at Mind Games is the name of it and it’s by Denise SCH if you ever seen the movie I don’t know if you ever seen the show billions before but the trading psychologist in that show is based off the sh the sh okay let text it up to the to the Traders the name of my book is who Moved My Cheese by Dr Spencer
(49:19) Johnson wait put this in the I’ll put Amazon in there direct there’s a link to Amazon you have a performance account on Amazon I have a performance account on Amazon trading live money so I’m going to run through some questions that uh popped in the chat um people asking what are the what is the definition of consistency when it comes to sizing sometimes the volume or another reason makes me want to enter
(49:54) with less size with less size yeah you can change your size it’s just massive changes in size for like no apparent reason are going to get questioned so right we talked about earlier um what do you say about the rumors that Apex uh deny big payouts and approve smaller payouts but look at the payout page we have plenty of big payouts we’ve approved we just approved $2 million to one last month so I’d say the rumors are
(50:29) false right yeah biggest payout by any propor in history so those rumors obviously would be based on false information um do you think that any somewhere in the future Apex will uh allow to buy direct performance account without evaluation in exchange for I know more money or uh that contribute to the CME as well working with them if they even like or approve that model so far we don’t think they do okay uh one second someone is saying
(51:06) so basically altering the trade size by two to three times and returning back is fine but what understandings the answer is yes according to the volume yeah um so it’s the same question one second um okay if someone has uh reasons that he needs to change his trading strategy let’s say that he trading during the I don’t know Asian session and now he he have a day job and he cannot trade
(51:41) anymore on the asan Asian session so he needs to change his whole strategy would it be okay or should he expect a denial about if he’s consistent on if he changes then he Chang it you know then I mean that’s not going to be a big deal doing completely random things every single day that’s going to be a little bit different can he notice someone or get someone intention that he’s about to
(52:05) change anything we we probably won’t even notice if he changed the strategy once so if we see when we see big drastic changes that don’t cons continue that’s when the big issue comes up someone is saying that he burned a lot of accounts but he didn’t get a payout and on his second P he got this probation email um do you think it’s by a mistake or do you think it’s I can’t answer individual
(52:37) questions because I don’t have the accounts pulled up to be able to answer on them okay do you advise do you advise him to you know approach open help D it and ask why if if if you didn’t get a clear answer then ask for a clear answer okay uh someone is asking my wife would like to start trading her own account how can we have more 20 accounts on the family can’t can’t yeah they need
(53:01) to get divorce and to split houses tomorrow tomorrow in the news are gonna be epics or causing divorces yeah great I’m just reading it I’ve made two withdrawals and they have been approved they never blown up PA but I got the email about being under 30-day probation before moving live is mistake so just answer it well that probably means looking at moving you to live so yeah and another question I blow a lot of P accounts but
(53:36) only now started to get payouts and I received the email everybody else why is that maybe it’s a mistake so I think it’s the same question unfortunately because the email stopped trading and I I want to come back can I come back and I trade so I will answer it if you got any uh probation probation status and you failed it or you cannot buy any more evolation accounts just contact uh the help desk and supposed to help
(54:07) you um so there’s another question you posted something what happens if I change my strategy during the already done what happens if I change my strategy during the probation period it be effect um what’s up um what happens if I change my strategy during the probation period I don’t think it’ll hurt as long as you’re consistent about it can you elaborate on what CME is and
(54:45) the role when will the new regulation take place in your opinion so the same is the Chicago Merchant exchange I think it’s easily within months month okay Er When is the Discord Discord the channel coming coming back once we got the customer service where we want it okay great a lot of people saying thank you um why is it taking so long to the compliance team to answer why don’t we get clear answer uh why per was denied
(55:25) and we you should have a clear answer in your email if you don’t then ask about it um if there’s a reason why it’s taking a while it’s because they have to look up your account again and they have to look through all of your information again so those emails take a long time to get to and remember we just hired 100 new people so they’re getting trained up and so you know it takes a little while
(55:43) to get everybody trained up and up to speed so that way they can answer the questions a faster speed okay people that are under investigation account investigation should what should they need to do like wait because there’s no no explanation about the status on your uh support page they just need to trade like normal sorry they just trade like normal so so they need to continue to trade or should they
(56:16) stop definitely keep continuing to trade I mean that’s what we’re going to be looking at if you stop trading [Music] then it’s not going to move forward why didn’t the people who got on the probation mail got an explanation about what they did wrong uh they will repeat the same mistake if they don’t know what it is they didn’t get an email and they need to ask and support why they got it
(56:42) they should have got an email okay ER what do new regulations mean and how is the CME we talked about it well we use we use CME data and so the CME is a self-reg W in entity and therefore they you know they can regulate the props is this regulation only for American pop films or worldwide it’ll be anybody doing Futures off a CME okay uh does the 10day probation I know 30 days status is from the day the
(57:19) email um because he couldn’t someone couldn’t ask for a request so he asking about when does the probation status Begins the day you get it but they get it okay can me and my wife trade on the same accounts nope only one person can access the account they can’t share your account with anybody else okay unless someone will write question in the upcoming 10 seconds uh we’re going to call it and I
(57:53) want to thank you in person in about everything you do about Apex about this new industry that you actually created or elaborated or gotting to explode uh for me changed for me specifically changed my life literally I was trading options uh and switch all my tradings to day trading and futures um that’s thank you for the opportunity thank you for everything you’re doing thank you for coming here
(58:22) tonight um want to thank you about your support in Israel right after October 7th I’ve seen the post and you got it so thank you for that and uh wish you all the best and good luck and I hope your vision and things will come true and H that’s it thank you very much thank you have a nice day everybody thank you for joining us if you have any questions uh for me or for darel I think we can release darel for his
(58:56) day-to-day trading and if you have anything for me or you want to discuss with the community here more than welcome to stay uh that’s it thank you everybody and have a green days all right you have a great day thank you bye by right
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