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A bit of a short sighted reply. You cannot trade micros with $1, this comment shows that you know nothing about margin, so perhaps stop dishing out bad advice? And jumping straight into the live markets is a good way to lose your life savings in a few days if you're unprepared.
Prop firms offer a much lower cost entry into trading. They're an intermediate step between paper trading and live trading. Your losses are capped at the subscription costs.
Why do you think they'll respond here? Have you tried asking them on their support page?
And by answering itself, I meant at the bottom where you list your concerns. You seem to have already drawn conclusions. Yes, their rules do appear to be intentionally vague, and seem to allow them to deny a payout for pretty much any reason.
Those are concerns, not conclusions. I think a community visible forum like this is the perfect opportunity for a more detailed reply, versus a single email with a lot of questions to their support, which I would not expect to get answered.
The back-and-forth noise does not help. Please, give them an opportunity to respond.
Yeah it is simulation, but it's pretty much the same as live trading and they supposedly pay you based on your results. And if you can go from $0 to $10k in sim, making consistent profits each day, then I'd say you're ready for live.
Don't get me wrong, I certainly don't trust them, and need more information and proof of payouts for me to take the plunge. Way too many bad reviews on trustpilot, and when you check Apex's profile you will see they push to have negative reviews deleted, and also ban people who leave negative reviews. Not a trustworthy way to act in my opinion.
And in my experience, they are very cagey with their replies to any questions regarding their payout policy.
I just feel that people can trade on simulation for free with many free platforms instead of the perpetual merry-go-round of these firms, not to mention that trading is about alot of emotional management, and especially during the first few years. The unconscious and subconcious mind knows that you'll just get a new account if you blow up this one and therefore people fail to develop the emotional stamina to manage fear, hope, greed and the emotional associations.
There's more that I can say but, that's the gist of it.
Chaos at one level of magnification is harmony at a higher level of magnification.
Yeah that's a very good point. There's always that "I'll just buy another account" at the back of your mind.
What I don't like is the artificial rules. Daily loss limits, consistency nonsense, trailing drawdown etc. It's all designed with one goal in mind - to make you blow your account and give them more money.
If I had my own account and had a bad day I'd lose money. But with a prop firm, a bad day could mean losing the account. And a firm like Apex, you can lose the account without ever having a losing day, due to their trailing drawdown.