In the dynamic world of futures trading, proprietary trading firms like Take Profit Trader and Apex Trader Funding have emerged to provide traders with opportunities to trade without risking personal capital. This article offers a comprehensive comparison of these two firms, highlighting their features, benefits, and key differences to help traders make informed decisions.
Company Overviews
Based in Orlando, Florida, Take Profit Trader is a proprietary trading firm that enables individuals to engage in futures trading without using their own funds. The firm emphasizes a straightforward, one-step evaluation process, allowing traders to start earning from day one upon account approval. Notably, Take Profit Trader offers an 80% profit split, which can increase to 90% for PRO+ members.
Established in 2021 and headquartered in Austin, Texas, Apex Trader Funding aims to revolutionize the trader payout model. The firm offers a one-step evaluation process with no time limits, allowing traders to qualify with a minimum of seven trading days. Traders receive 100% of their first $25,000 in profits per account and 90% thereafter. Apex Trader Funding also provides two payouts per month and supports trading during holidays and news events.
Evaluation Processes
Take Profit Trader
Traders select an account size and aim to reach a specified profit target while adhering to risk management rules. The evaluation requires a minimum of five trading days, after which successful traders are granted a PRO account. The firm allows up to three resets during the evaluation phase, providing flexibility for traders to refine their strategies.
Apex Trader Funding
The firm offers a flexible evaluation with no time constraints, requiring traders to trade a minimum of seven days to reach their profit targets. There is no daily drawdown limit, and traders can manage up to 20 accounts simultaneously. Apex Trader Funding also permits algorithmic trading and provides a range of trading tools to support diverse trading strategies.
Profit Splits and Payouts
Take Profit Trader
Upon successful evaluation, traders receive a PRO account with an 80% profit split, which can increase to 90% for PRO+ members. The firm boasts an immediate withdrawal process, allowing traders to access their earnings without delay.
Apex Trader Funding
Traders keep 100% of their first $25,000 in profits per account and 90% of subsequent earnings. The firm offers two payouts per month with no cap on maximum payouts, providing a lucrative opportunity for successful traders.
Trading Rules and Flexibility
Take Profit Trader
The firm has eliminated daily loss limits and does not enforce scaling plans on PRO accounts, allowing traders to maintain their preferred trading styles. Live support is available 24/7 to assist with any inquiries or issues.
Apex Trader Funding
Apex Trader Funding offers flexibility by allowing traders to operate without daily drawdowns and to trade during holidays and news events. The firm supports various trading platforms, including NinjaTrader, and provides real-time data at no additional cost.
Reputation and Reviews
Take Profit Trader
With over 800 reviews on Trustpilot, Take Profit Trader holds an average rating of 4.3 out of 5 stars. Traders commend the firm for its user-friendly platform, prompt payouts, and responsive customer service.
Apex Trader Funding
Apex Trader Funding has a TrustScore of 4.5 out of 5 stars based on over 10,000 reviews. Users appreciate the firm’s customer service and quick payouts, though some reviews mention concerns with platform limitations and support response times.
Conclusion
Both Take Profit Trader and Apex Trader Funding offer compelling opportunities for traders seeking funding without risking personal capital. Take Profit Trader stands out with its immediate withdrawal process and flexible trading rules, while Apex Trader Funding offers a generous profit split and the flexibility to trade during news events and holidays. Traders should consider their individual trading styles and preferences to choose the firm that best aligns with their trading goals.
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