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Well I'd certainly take the claims with a pinch of salt. I neither believe it or doubt it, as I don't know the proficiency of the traders in question. All I am saying is that the bad reviews say the same thing quite a lot.
Apex also have a suspicious amount of positive reviews. The math doesn't add up - most people who try trading lose, so why all the positive reviews? If I spent thousands on Apex accounts with no return, I certainly wouldn't be writing great reviews.
If you've had an Apex account and been paid out or have a success story please let me know, I'm always interested in hearing both sides. I just have trouble believing in any company that loses money when you succeed.
Can you help answer these questions from other members on NexusFi?
If most people lose on Apex, is that Apex fault, or the people who doesn't know how to trade? If I am losing trader, this is not Apex's fault and deserve to get a bad review from me? By that logic every losing trader should blame the platform / broker they use to trade on and give it bad reviews. I don't think this is fair that someone would give Apex a bad review because the person don't know how to trade. Now, if Apex provide poor service, refuse to pay out, etc. then this is something else.
How does Apex loses money when someone succeed? I thought they take a 10% cut?
The payout policy is the red flag. If traders make money, they should be able to access those funds immediately. Something screwy going on in the background.
I don't know where to start with this. You're assuming that all of the bad reviews are made for the same reason? There's a variety of reasons why people choose to write bad reviews, the point I made was that Apex have a suspiciously large amount of positive reviews. It's not unheard of for a company to pay for good reviews. My point was that I don't understand why anyone would write a good review after losing money. Surely they'd wait to see if they got paid out before reviewing?
And I wasn't talking about Apex traders losing money, I was talking about traders in general.
A cut of what? You're trading a sim account once you pass the evaluation, so if they pay you they lose money.
You can check out the apex thread, but theres quite a few people on here that have made money with Apex, myself included.
I'm not sure how they get the most of their money, but I believe that they do make money from copy trading. Now I'm not sure if they are building it themselves, trading it themselves, or maybe they receive funding from outside firm and in return they share the buy/sell hotspots to that firm. Sort of like paying to see where and when profitable traders make money, and with 40k customers im sure the "general consensus" is usually pretty right about the trades
By being the trader's counterparty. It's not complicated!
It's just what happens when you hold the other side of "trades" made by someone who succeeds. After you're "funded," Apex actually holds the other side of your trades until they're fully satisfied that you're consistently profitable, so throughout that period, they lose whenever you win.
You were mistaken, then, I think. That doesn't seem to be how their business model really works, most of the time, though they might want you to believe that.
So possibly you're destined to continue to "agree to disagree" with all the people who are familiar with how Apex's business model actually works in practice?
Yes indeed - there are all those aspects as well: from what I read online, there seem to be regular difficulties for customers on those fronts, as well. Account activation fees, delays and complications with payouts, and so on. Definitely not one I'd want to do business with, from all I've read.
Thanks for sharing your experience with them. Mine is different with them over the last year or so, but that's what make life interesting. Wishing you many successful trades!
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
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I did something similar, but if we assume 90% lose and 10% win then we get
120k Customers lost an average of $2300 and 15k Customers made an average of $9233 (11533-2300)
They'll have paid out a lot in affiliate commissions, too, I would think ... but I don't think the details of the math/figures are what really matter here, myself.
I'm more interested in the principles of honesty and integrity, the realities of what tends to happen when industries fail to regulate themselves adequately in the face of increasing public demand for them to do so, and how much broader than this individual case its practical repercussions may turn out to be ...