Quick Answer — Apex Trader Funding — Evaluation Rules Quick Facts
- • Profit targets: $1,500 ($25K) / $3,000 ($50K) / $6,000 ($100K) / $9,000 ($150K)
- • Trailing drawdown defaults to EOD (recalculates at market close, not intraday)
- • Daily Loss Limit (DLL) applies on EOD accounts only — $500/$1,000/$1,500/$2,000 by size
- • Zero minimum trading days — rule removed in 4.0; pass in one session if you hit target
- • 30 calendar days from purchase to pass — no resets, no extensions
- • No consistency rule during evaluation — all six removed rules documented below
Direct experience: 2–3 years on Apex's $50K accounts, ~$16,000 paid via Wise, bought on heavy promo cycles. Post-4.0 the structure is: Evaluation ($197 EOD / $131 Intraday on $50K retail, often 90% off) → Performance Account (100% profit split, $99 EOD / $79 Intraday activation fee, not discounted) → up to 20 funded PAs running simultaneously. I tested $50K; $25K, $100K, $150K accounts are third-person in my writing. Account-by-account breakdown in Apex accounts overview, full assessment in the Apex review. Current pricing at Apex Trader Funding.
Apex Trader Funding's evaluation phase is a single-hurdle challenge: hit a profit target while keeping your balance above a trailing drawdown floor, within 30 calendar days, with positions closed by 4:59 PM ET each session. After the 4.0 overhaul on March 1, 2026, six rules were stripped out — including the minimum trading day requirement — leaving the current eval structure significantly cleaner than what PTV covered in older articles.
This article covers the post-4.0 evaluation rules in full: profit targets by account size, EOD vs Intraday drawdown mechanics, the Daily Loss Limit, what six rules no longer exist, and exactly what happens the moment you pass. For context on the full account lifecycle see the Apex account types overview.
The profit targets — four sizes, one structure
The evaluation has a single profit target that varies by account size. There is no rolling target, no daily quota, and no partial credit. You either clear the target or you do not.
| Account Size | Profit Target | Trailing Drawdown | DLL (EOD only) | Eval Contracts |
|---|---|---|---|---|
| $25K | $1,500 | $1,000 | $500 | 4 |
| $50K | $3,000 | $2,000 | $1,000 | 6 |
| $100K | $6,000 | $3,000 | $1,500 | 8 |
| $150K | $9,000 | $4,000 | $2,000 | 12 |
The $50K account is Apex's most popular evaluation size. A $3,000 profit target on a $50K starting balance is a 6% gross return, achievable in a single strong session or spread across multiple sessions as the floor ratchets up beneath you.
I've passed $50K evaluations at Apex and the 6% target at that size is real work but not unreasonable for a trader with a working edge. What kills most eval accounts is not the target. It is the drawdown floor creeping upward as profits accrue and then giving it back in a bad session.
How the trailing drawdown works during eval
The drawdown type you choose at purchase (EOD or Intraday) determines the most important behavioral difference in the evaluation.
EOD trailing drawdown
On an EOD account, the trailing drawdown recalculates once per day at market close based on your closed session balance. Intraday price movements and unrealized profits do not move the floor.
Worked example on a $50K EOD evaluation:
- Day 1 open: balance $50,000, drawdown floor $48,000 (trail distance $2,000)
- Day 1 intraday: balance peaks at $53,000 unrealized. Floor does not move.
- Day 1 close: session closes at $51,500. Floor moves to $49,500 (trail distance $2,000 from close)
- Day 2: you now need to keep your balance above $49,500 at all times intraday
The EOD structure means a spike-and-retrace trade that goes +$3,000 intraday then closes at +$1,000 only moves your floor by $1,000. You do not get punished for intraday volatility you do not capture as realized profit.
Intraday trailing drawdown
On an Intraday account, the drawdown floor follows your equity peak tick-by-tick throughout the session. The same +$3,000 intraday spike moves your floor to $51,000 immediately. If the trade retraces to close at $49,500 you are now within $1,500 of the floor you set at the peak.
Intraday accounts have lower evaluation fees but a mechanically tighter drawdown for traders whose strategies involve significant open float. For traders who trade clean, close-to-target setups with minimal open drawdown, Intraday is fine. For traders who ride positions through volatility, EOD is the right call.
The EOD vs Intraday comparison guide covers both structures with full worked examples.
The Daily Loss Limit — EOD accounts only
The DLL is a hard intraday stop that exists on EOD accounts only. When your intraday P&L reaches the DLL threshold, Apex closes all open positions and locks the account for the remainder of that trading session.
The DLL thresholds:
| Account Size | DLL |
|---|---|
| $25K EOD | $500 |
| $50K EOD | $1,000 |
| $100K EOD | $1,500 |
| $150K EOD | $2,000 |
The DLL is not the same as the trailing drawdown floor. They are two separate mechanisms:
- Trailing drawdown floor: the absolute minimum your balance can reach at end-of-day before the account is closed (permanently)
- Daily Loss Limit: a single-session intraday stop-out (session ends, account resets next day)
Hitting the DLL does not end your evaluation. It ends your trading day. Come back tomorrow. But hitting the DLL two days running on a $50K account means $2,000 in realized losses, which is the full drawdown distance. That sequence turns two DLL days into a drawdown breach the moment the EOD floor recalculates.
Intraday accounts do not have a separate DLL because the intraday trailing drawdown already punishes intraday equity peaks. The DLL on EOD accounts compensates for the fact that an EOD account does not trail intraday. Apex adds the DLL as a separate single-session guardrail.
Zero minimum trading days — the 4.0 change that matters most
Before March 1, 2026, Apex required a minimum of 7 trading days to pass the evaluation. This meant traders with high-conviction setups who could hit the $3,000 target in two or three sessions still had to keep an account open for at least a week, accumulating risk.
4.0 removed the minimum entirely. Zero minimum trading days is now the rule. You can pass the evaluation in one session.
In practice, most traders will not hit the full profit target in one day — but the removal matters for a specific type of trader: someone with a strong edge who takes one to three high-quality setups per week. Pre-4.0, those traders were forced to take filler trades to hit the day count. Post-4.0, they are not.
This change also removed the 5:1 risk-reward ratio requirement, which previously forced traders to frame setups around the RR multiple regardless of whether that fit their actual strategy. Combined, the two removals make the eval more permissive for disciplined low-frequency traders.
The 30-day evaluation deadline
The evaluation expires 30 calendar days from the date of purchase. Not from your first trade. From purchase. If you buy on April 1 and first log in on April 10, you have 20 days left, not 30.
No resets. No extensions. No partial credit. The account expires and you would need to purchase a new evaluation at full retail (or at the next promo cycle).
Practical implications:
- Buy when ready. Do not buy during a period when you know you will be unavailable for two weeks.
- Build the target in stages. A $3,000 target across 15 trading days is $200/day average. A manageable pace that keeps the floor building while reducing single-session pressure.
- Track days remaining. The Apex dashboard shows your deadline. Check it.
The 30-day window is the same for both EOD and Intraday evaluations at all four account sizes.
No consistency rule during evaluation
The 50% consistency rule, which caps any single day's profits at no more than 50% of your total cycle profits, applies only during the Performance Account phase. It does not apply during evaluation.
This means during eval you can make your entire $3,000 profit target in one session with no penalty. Two sessions, three sessions, or fifteen sessions: the distribution of profits does not matter during evaluation. The only thing that matters is hitting the target with your balance above the drawdown floor before day 30.
This is a significant design choice by Apex. It rewards skilled traders who can generate concentrated returns in high-conviction sessions without forcing them to water down their edge by spreading trades across arbitrary day counts.
When you pass to the PA phase, the consistency rule switches on. Your first withdrawal cycle will need to show that no single trading day produced more than 50% of total cycle profits. The Apex consistency rule guide covers the PA-phase mechanics in full.
Six rules removed in 4.0
The following six rules were active during Apex evaluations before March 1, 2026 and are now gone:
| Removed rule | What it was | Why it mattered |
|---|---|---|
| MAE (Maximum Adverse Excursion) | Limited how far a position could go against you before it counted against the eval | Punished trades that went negative before recovering; discouraged wide-stop strategies |
| 5:1 Risk-Reward Ratio | Required setups to have at least a 5:1 RR | Forced traders to frame entries around the ratio, not around their actual edge |
| One-Direction Rule | Restricted how many consecutive trades could go in the same direction | Penalized momentum traders during strong trending sessions |
| 7-Day Minimum Trading Days | Required at least 7 sessions before the eval could be completed | Extended the eval unnecessarily for high-conviction traders |
| Monthly Billing | Evaluations renewed monthly as recurring subscriptions | Created open-ended cost for slow passers; replaced by one-time fee structure |
| Manual Payout Review | Payouts required human review and approval | Added delays to the PA payout process; now automated via Plane/ACH |
These were not minor tweaks. MAE and the 5:1 RR were the two rules that generated the most community complaints because they interfered with valid trading strategies. Apex's decision to remove them in 4.0 is the primary reason the firm's community sentiment improved sharply in the six weeks after launch.
What the 4.0 evaluation rules look like in practice
A complete set of rules for a $50K EOD evaluation, post-4.0:
| Rule | Specification |
|---|---|
| Profit target | $3,000 |
| Trailing drawdown | $2,000 (EOD — recalculates at session close) |
| Daily Loss Limit | $1,000 (EOD accounts only) |
| Minimum trading days | 0 (none) |
| Evaluation deadline | 30 calendar days from purchase |
| Position close time | 4:59 PM ET |
| Consistency rule | Not applicable (eval phase) |
| MAE rule | Removed |
| 5:1 RR requirement | Removed |
| One-direction rule | Removed |
| Contract limit | 6 |
| Overnight holds | Not permitted |
The contract limit during evaluation is 6 on the $50K. That drops to 4 when you move to the PA. Size your eval strategy around 4 contracts, not 6. You will be forced to reduce size after passing otherwise, at a moment when your account is already under the scrutiny of the PA phase.
Position close and overnight rules
4:59 PM ET is the hard close. All positions must be flat before the market closes at the end of the US session. Apex's risk system will close any remaining positions at or before 4:59 PM ET.
No overnight holds. No weekend positions. Apex is structured around day-trading the US session. Traders who hold futures positions overnight or into weekends are not compatible with Apex's model at any phase, whether evaluation or funded.
The 4:59 PM ET rule applies to both evaluation and Performance Account phases. It is one of the few rules that does not change between the two phases.
The moment you pass: PA activation fee
Passing the evaluation does not immediately put you in a funded account. Within 7 calendar days of passing, you must pay the PA activation fee and activate your Performance Account:
- EOD PA activation fee: $99 (one-time)
- Intraday PA activation fee: $79 (one-time)
This fee is not discounted by promo codes. The SAVENOW code and other public codes apply to the evaluation purchase only. The PA activation fee is a separate, fixed cost on top of whatever you paid for the evaluation.
Miss the 7-day activation window and the passed evaluation is forfeited. You would need to purchase and pass a new evaluation.
The PA activation fee guide covers this in full, including the total cost math when you factor in a 90% off evaluation and the fixed $99 PA fee, and how traders who buy 10 evaluations at once on a 90% promo day need to budget for $99 per passed eval in activation costs.
For a full breakdown of what the Performance Account phase looks like after you activate, see the Apex Performance Account rules guide.
The bottom line
Apex's 4.0 evaluation is the most straightforward version of this challenge the firm has offered. Profit target, trailing drawdown, DLL on EOD accounts, 30-day deadline. No minimum days, no consistency rule, no RR minimum, no MAE, no one-direction restriction.
The two things that end evaluations are the drawdown floor and the 30-day clock. Manage the floor by not giving back profits in bad sessions. Manage the clock by buying when you are ready to trade.
I've traded Apex evaluations across 2-3 years with diverse $50K accounts and the post-4.0 structure removes the rules that previously required you to manage the eval as a rules game rather than as a trading challenge. That is an improvement. The $50K EOD evaluation at a 90% promo price — with the DLL structure keeping single-session losses bounded, remains one of the more accessible funded-account on-ramps in futures prop trading.
The full firm assessment with ratings is in my Apex Trader Funding main review. For everything on payout structure after passing, see Apex payout rules. For the rules overview covering both eval and PA phases together, see Apex rules overview.
Frequently Asked Questions
What is the profit target for the Apex Trader Funding evaluation?
Profit targets depend on account size: $25K = $1,500, $50K = $3,000, $100K = $6,000, $150K = $9,000. These are gross profit targets, you need to clear them while keeping your balance above the drawdown floor. On a $50K EOD account your drawdown is $2,000, so peak balance needs to reach at least $53,000 before your eval balance can drop anywhere near $48,000.
How does the trailing drawdown work during the Apex evaluation?
The trailing drawdown on EOD accounts moves upward only at the end of each trading day based on your closed balance. It does not follow intraday peaks. On Intraday accounts, the drawdown trails your equity peak tick-by-tick. EOD is more forgiving because an intraday profit spike does not immediately tighten your floor. Drawdown distances: $25K=$1,000, $50K=$2,000, $100K=$3,000, $150K=$4,000.
Is there a Daily Loss Limit during the Apex evaluation?
Yes, but only on EOD accounts. The DLL is a hard intraday floor: $25K=$500, $50K=$1,000, $100K=$1,500, $150K=$2,000. Hit it and Apex closes all your positions for the session. This is separate from the trailing drawdown, you can breach the DLL without breaching the drawdown floor, but two bad days can stack those losses into drawdown territory. Intraday evaluation accounts do not have a separate DLL.
How many days do I need to trade to pass the Apex evaluation?
Zero minimum trading days, Apex removed this requirement in the 4.0 overhaul on March 1, 2026. You can pass the evaluation in a single session if you hit the profit target. Before 4.0, Apex required at least 7 trading days, which frustrated scalpers and high-conviction traders who could hit the target faster.
How long do I have to pass the Apex evaluation?
30 calendar days from the date of purchase. The clock starts on purchase, not on your first trade. No resets, no extensions. If you do not hit the profit target within 30 days, the account expires. You would need to purchase a new evaluation. Promo codes apply to evaluation fees only, the 30-day clock is fixed regardless of what you paid.
Is there a consistency rule during the Apex evaluation?
No. The consistency rule at Apex applies only during the Performance Account (PA) phase, not during evaluation. In the PA phase, no single day's profits can exceed 50% of your total cycle profits. During evaluation, you can make 100% of your target in one session with no consistency restriction. This is one of the most trader-friendly aspects of the post-4.0 eval structure.
What time do positions have to close during the Apex evaluation?
All positions must close by 4:59 PM ET. Apex does not allow overnight holds during evaluation. Positions still open at 4:59 PM ET will be closed by Apex's risk system. Factor this into your strategy, trades that need to run overnight or into the next session are not compatible with Apex's day-trading structure.
What rules were removed from Apex evaluations in 4.0?
Six rules were removed: (1) MAE (Maximum Adverse Excursion), you no longer need to manage unrealized drawdown during entry. (2) 5:1 Risk-Reward Ratio, no minimum RR requirement. (3) One-Direction Rule, you can trade both sides of the market freely. (4) 7-Day Minimum Trading Days, removed entirely. (5) Monthly Billing, evaluations are now one-time fee, not recurring. (6) Manual Payout Review, the payout process is now automated via Plane/ACH.
What happens to my drawdown if I make profits during the evaluation?
On EOD accounts, the drawdown floor ratchets up at end-of-day based on your closed session balance. If you start at $50,000 with a $2,000 drawdown, your floor is $48,000. After a day closing at $52,000, your floor moves to $50,000. After closing at $54,000, the floor moves to $52,000. The floor never comes back down. Profitable sessions lock in a higher floor, which is why drawdown management matters even when you are winning.
What is the contract limit during the Apex evaluation?
Evaluation contract limits are: $25K = 4 contracts, $50K = 6 contracts, $100K = 8 contracts, $150K = 12 contracts. These limits drop when you pass to the Performance Account phase, the PA limits are $25K = 2 contracts, $50K = 4 contracts, $100K = 6 contracts, $150K = 9 contracts. Size your eval strategy around the PA limits, not the eval limits, or you will be forced to de-size after passing.
Can I trade any instrument during the Apex evaluation?
Apex supports futures trading across major CME products. As of April 2026, all metals are suspended, GC, SI, QI, QO, MGC, HG, PL, and PA have been halted since March 14, 2026, with no return date announced. ES, NQ, MES, MNQ, CL, and other non-metals futures remain available. Check Apex's help center before evaluation purchase if metal trading is part of your strategy.
What happens after I pass the Apex evaluation?
After passing, you have 7 calendar days to pay the PA activation fee and activate your Performance Account. The fee is $99 for EOD accounts and $79 for Intraday accounts. This fee is NOT discounted by promo codes. Missing the 7-day activation window forfeits the passed evaluation. Once activated, the PA phase begins with different rules including the 50% consistency rule and reduced contract limits.
Is the Apex evaluation fee refundable?
No. Evaluation fees are non-refundable from the point of purchase. There are no resets, if you breach the drawdown or let the 30-day window expire, you need to purchase a new evaluation. The public promo code SAVENOW offers 90% off evaluation fees on a semi-regular basis, which Apex rotates independently. The PA activation fee is an additional one-time cost on top of the eval fee and is not covered by promo discounts.