FTMO vs Apex Trader Funding (2026)

FTMO and Apex Trader Funding are the two biggest names in the prop firm space — but they're playing different games. FTMO funds forex traders. Apex funds futures traders. Both have legit payout histories. Both have very different rules. Picking wrong wastes your evaluation fee.

This is the honest head-to-head: who FTMO is actually for, who Apex is for, and the questions that should decide it.

The quick verdict

If you don't know whether you're a forex or futures trader yet, you're not ready to pay for either evaluation. Trade a demo for 30 days first.

What each firm actually does

FTMO (founded 2015)

FTMO is the largest forex-focused prop firm by market share. You pay an evaluation fee (€155 to €1080 depending on account size, from $10k to $200k notional), pass a two-step challenge with profit targets and risk rules, and get a "funded" account. You keep up to 90% of profits at the highest scaling tier. Payouts are monthly on demand.

FTMO's edge is operational stability — they've been paying for nearly a decade with no major payout pause incidents. Their downside is rigid rules: 5% daily loss limit, 10% max loss, and consistency requirements that punish "one big trade" pass attempts.

Apex Trader Funding (founded 2021)

Apex is the dominant futures prop firm. Evaluation costs $147 to $267 monthly subscription (paid until you pass — yes, recurring). Single-step evaluation. Trailing drawdown that locks in once your equity hits a threshold. Profit split starts at 100% of first $25k profits, then 90% after.

Apex's edge is the trailing drawdown model (more forgiving than fixed) and the 100/90 split. The downside: contracts are restricted on news, and you must follow the "consistency" rule (no single day can be more than 30% of total PnL during eval).

Side-by-side

Where each one quietly screws you

FTMO's gotcha: consistency rule on funded

Once funded, FTMO applies a consistency rule that limits any single day's profit to 50% of total profit. So if you have a $5k profit week and one of those days made $3k, you can't withdraw until your other days catch up. People miss this and rage-post on Reddit constantly.

Apex's gotcha: trailing drawdown locks at threshold

The trailing drawdown follows your equity UP until you hit a profit threshold (usually $50k account = $52,600 threshold), then it locks at your initial balance. Before that lock, every dollar of profit you give back counts against your drawdown buffer. People blow accounts AFTER hitting peak equity because they don't realize the drawdown is still trailing.

Affiliate revenue (if you're planning to refer)

FTMO: 8% to 20% tiered based on referred volume (Bronze → Platinum tiers). Standard cookie window. Bonuses include free Challenge accounts at higher tiers.

Apex: 15% lifetime recurring on referred users' evaluations AND resets. Selective approval — you generally need an audience and an application. Monthly payouts on the 15th. This is one of the best affiliate structures in the entire prop firm space.

If you're choosing partially based on which one is better to promote, Apex wins outright on commission structure. If you're choosing based on volume of potential referrals, FTMO wins (bigger total market).

So which one should YOU pick

This isn't a coin flip — it's a self-assessment.

You're an FTMO trader if: you already trade forex, you understand pip-based risk sizing, you can stomach a two-step challenge, and you want the brand security of the longest-running operator in the space.

You're an Apex trader if: you trade or want to trade ES / NQ / oil futures, you understand contract-based risk, you're OK with a recurring subscription that resets your eval if you blow it, and you want the higher profit split on early profits.

What you're NOT picking based on: marketing, Discord shilling, or which one your favorite trader on X promotes. Both are real firms. Both pay. Pick based on the asset class you actually trade.

Our current health scores

As of FTMO's last update, score is 86/100 (Healthy). Apex sits at 88/100 (Healthy). Both are in the top tier of firms we track. Read each firm page for the full breakdown.