Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Darrell (the CEO) is aware of my complaint, so my plan is to just wait until I get a response. Apex make a point of "always doing the right thing by their traders", so hopefully they will approve my payout after manual review.
If you refer to the email somebody else posted above, it seems Apex are allowing traders to keep the account balance and continue trading. If there are no rule breaks for the next 10 trading days, the trader is allowed to withdraw the standard capped amount only for the subsequent period ($2k on a $50k account). So any profits from the denied period have to remain in the account as buffer and cannot be withdrawn until month 4.
Apex put out videos stating there were no rules changes and no new rules; they were simply enforcing the existing rules. They went on to say traders could only add to a losing position once. They made it clear they weren't out to penalise legitimate traders, but didn't want "scammers" (their words) who Dollar Cost Average but with no other strategy - i.e. Dollar Cost Averaging itself should not be the strategy.
Contrary to what they said in their videos, they did change the rule from the original "No DCA" to "Only one execution in the red". This is a clear rule change as it has a completely different meaning.
I don't DCA (add to losers) but I will often scalp order flow while I am waiting for a higher timeframe position to play out. Each scalp has its own entry criteria and stop and typically lasts a few seconds. Based on the original rule, this would be acceptable. According to the video clarification, it would be allowed as I only have one additional scalp active at a time - so at no time have I added to a losing position more than once. But following this new rule change, I am now denied payouts for DCA.
Here is an example: https://ticks-in-flow.blogspot.com/2024/06/apex-trader-funding-journal-29may2024.html
Trade 16 is a long term position that lasted 5 hours. The thesis is clear - I'm expecting a break of support. I hold the trade even though the support line is tested multiple times. The trade is in profit over 50% of the time - it isn't like price is trending away from my original entry - it is just moving sideways while continuing to push against a weakening support line.
While I'm waiting, I make 12 independent scalps based on order flow. Most last a few seconds and most had only 0-3 ticks pullback.
To be clear, I don't have an issue with the DCA rule. I don't have an issue with only allowing 1 add. I don't even have an issue with just allowing 1 execution in red. My issue is that the videos said there were absolutely no rule changes - so I traded accordingly. Yet the rules were changed because 'no dca' was replaced with an execution limit. They are not the same.
Lets be honest here, they don't want to have a partnership with consistently profitable traders. This is clear from how you trade, you are making money and clearly not adding into a losing position all day until your account is blown. You are not trying to "scam" them, just taking advantage of the fact that you can make money in a trading range while holding a position. If there is opportunity, why wouldn't you take it?
They are finding more and more ways to stop paying their customers, and forcing them to either change or to leave. If they change, chances are they won't make as much money, as their strategy will be new and untested, so Apex win. And if they leave, then Apex keep all their money and win again.
They claim that DCA can cause them to lose a lot of money, but that's impossible with the way their accounts are setup. Once you've passed the trailing threshold +$100, the accounts cannot go below, so there is no risk at all to them.
They claim they move people to live accounts, yet I've never seen or heard from anyone that's been moved to live. Plenty of people here claim to have had multiple payments, why aren't they on a live account?
As for a partnership, what sort of partnership is it when one holds the cards and can deny payout to the other?
These guys are staying up at night figuring out how to make life as difficult as possible for the trader. A trader's proprietary strategies are none of anyone's business unless they choose to share them. The number of alerts with the Apex Ponzi scheme should be enough for everyone to stay away from them. There are several very good prop firms with no bs rules and that have copy trading.
I can't see your original post, but please say which companies you think are good. I think that's what we all want, experiences and recommendations of which of these firms we can trust.