FTMO and Apex Trader Funding are two of the most searched prop firms, but they serve different traders. FTMO is a forex and CFD firm with a classic two-step evaluation and a static loss limit. Apex is a futures-only firm with cheap, frequently discounted evaluations and a trailing drawdown. The right choice depends less on which firm is “better” and more on what you trade and how your stops behave.
At a glance
| FTMO (2-Step) | Apex (50K, Apex 4.0) | |
|---|---|---|
| Markets | Forex, indices, metals, crypto CFDs | CME futures incl. micros |
| Profit target | 10% then 5% | $3,000 (6%) |
| Daily loss limit | 5% of initial balance | $1,000 on EOD accounts; none on intraday |
| Maximum loss | 10%, static | $2,000 (4%), trailing |
| Time limit | None | 30 calendar days |
| Minimum days | 4 | None |
| Profit split | 80%, up to 90% with scaling | 100% of approved payouts |
| Payouts | On demand after an initial period | Up to weekly, max 6 per account |
Figures from each firm’s published rules, checked November 1, 2026. Rules change — confirm on the firm’s site before you buy. Full details: FTMO review and Apex review.
The real difference: how much room you have
Put both in dollar terms on similar account sizes and the gap is obvious.
- FTMO $100K 2-Step: $10,000 of maximum loss that never moves, and $5,000 per day.
- Apex 50K: $2,000 of drawdown that follows your highest balance until it locks at the start.
At 1% risk on FTMO ($1,000), ten straight losses hit the floor. On Apex, $1,000 of risk would breach the drawdown in two losses — so Apex traders typically risk $150–$300 per trade. That is not a flaw; it is the trade-off for a much cheaper evaluation. But it decides which strategies fit.
Static vs trailing drawdown in practice
Imagine you are up $1,500 on each account and then give back $1,000.
- On FTMO, your floor is still $90,000. You simply have $500 of profit left.
- On an Apex intraday-trail account, the floor rose by $1,500 while you were up. After giving back $1,000 you are only $1,000 above it — half your original room has gone.
- On an Apex EOD-trail account, the floor only moves on the settled balance at the end of the day, so a give-back inside the session doesn’t tighten it.
If your trades often run in your favour and then retrace before your target, a trailing drawdown will feel much tighter than its headline number. Try both rule sets with your own win rate in the prop firm challenge simulator — it has presets for FTMO and Apex.
Costs
Apex’s evaluation fee is usually far lower, especially with its frequent discount codes, but an activation fee is due after you pass. FTMO’s fee is higher for a comparable account, but FTMO has historically refunded it with your first reward (confirm current terms). If you expect to need more than one attempt, Apex’s lower price per attempt matters; if you expect to pass first time, a fee refund narrows the gap.
Payouts
Apex pays 100% of approved payouts but caps each account at six payouts and requires five qualifying days per request plus a 50% consistency rule. FTMO pays 80% by default (90% through its scaling plan) with no fixed cap on the number of rewards. Traders aiming for steady, long-term withdrawals from one account may prefer FTMO’s structure; traders who are happy to cycle through accounts may prefer Apex’s 100%.
Which should you choose?
Choose FTMO if you trade forex, gold or indices as CFDs, use stops wider than a few points, want no time pressure, or are new to evaluations.
Choose Apex if you trade CME futures such as ES, NQ, CL or GC, keep risk per trade small and consistent, and want the cheapest way to get an evaluation started.
Whichever you pick, size every trade to the loss limit first and the target second — our guide on how to pass a prop firm challenge walks through the full risk plan, and the futures calculator and position size calculator convert dollar risk into contracts or lots.
Frequently asked questions
Is FTMO or Apex better for beginners?
FTMO's 2-Step has a static maximum loss and no time limit, which is more forgiving for a new trader. Apex is cheaper to start, but its trailing drawdown and 30-day window punish mistakes faster. Beginners who trade forex usually find FTMO easier; beginners set on futures should risk very small on Apex or consider an end-of-day drawdown.
Which is cheaper, FTMO or Apex?
Apex's headline evaluation prices are lower and discounts are frequent, but you also pay an activation fee after passing. FTMO costs more up front for a comparable account, but has historically refunded the fee with your first reward — check its current terms. Compare the total cost of passing, not the checkout price.
Can I trade futures with FTMO?
FTMO's main challenges use CFDs on forex, indices, metals and crypto. FTMO has introduced a separate futures program with its own rules — check its site for current terms. Apex trades CME futures only.