When it comes to prop trading firms, both Apex Trader Funding and Take Profit Trader offer compelling options for traders looking to access substantial trading capital. However, each firm has its unique strengths and differences that may make one more suitable for your trading style and goals than the other. In this detailed review, we’ll compare and contrast these two firms, focusing on account offerings, funding requirements, pricing, pros and cons, and more. We’ll also highlight how you can take advantage of special discounts with both firms.

Account Offerings

Apex Trader Funding

Apex Trader Funding offers a wide variety of account sizes tailored to fit different trading needs. Traders can select from accounts ranging from $25,000 to $300,000, giving them the flexibility to choose an account size that best matches their trading strategy and risk tolerance. Additionally, Apex provides options for both static and trailing drawdown accounts, allowing traders to select the risk management style they prefer.

• Account Sizes:
  • $25,000
  • $50,000
  • $75,000
  • $100,000
  • $150,000
  • $250,000
  • $300,000
• Drawdown Options: Both static and trailing options available.
• Leverage: 1:1 with the purchasing power matching the account balance.

Take Profit Trader

Take Profit Trader also offers a range of account sizes, though the focus is primarily on futures trading. Their account sizes range from $25,000 to $150,000, making it a bit more limited in comparison to Apex. However, Take Profit Trader emphasizes a more streamlined and straightforward account offering with clear rules and objectives.

• Account Sizes:
  • $25,000
  • $50,000
  • $75,000
  • $100,000
  • $150,000
• Drawdown: Trailing drawdown only.
• Leverage: 1:1 with strict adherence to position size limits based on account size.

Funding Requirements

Apex Trader Funding

Apex Trader Funding’s evaluation process is known for its flexibility and trader-friendly terms. To qualify for a funded account, traders must achieve a profit target without exceeding the drawdown limits. Apex’s evaluation is conducted over a minimum of 10 trading days, allowing for a balanced assessment of a trader’s abilities.

• Profit Target: Varies by account size, generally around 6-8%.
• Minimum Trading Days: 10 days.
• Drawdown: Both static and trailing drawdowns are options, providing flexibility in risk management.
• Discount: Use the code "EQCXPUTY" for at least 50% off the evaluation fee.

Take Profit Trader

Take Profit Trader offers a more streamlined evaluation process with a single-step evaluation requiring traders to achieve a profit target of 6% over at least five trading days. The focus is on disciplined trading with strict risk management rules, making it a suitable choice for traders who prefer a structured approach.

• Profit Target: 6% across all account sizes.
• Minimum Trading Days: 5 days.
• Drawdown: Trailing drawdown, calculated daily.
• Discount: Use the code "CHOOCH" for 50% off the evaluation fee.

Pros and Cons

Apex Trader Funding

Pros:

• Variety of Account Sizes: Offers a broad range of account sizes, including larger $250,000 and $300,000 accounts.
• Flexible Drawdown Options: Traders can choose between static and trailing drawdowns, depending on their risk preferences.
• Longer Evaluation Period: The 10-day minimum trading period provides a more comprehensive evaluation.
• Cost-Effective: With the discount code "EQCXPUTY," Apex is a more budget-friendly option, particularly for traders looking to try multiple accounts or strategies.

Cons:

• Complex Rules: The variety of options can be overwhelming, especially for traders who prefer a more straightforward approach.
• Slightly Higher Profit Target: Depending on the account, the profit targets can be slightly higher than those of other firms.

Take Profit Trader

Pros:

• Simple, Streamlined Process: The single-step evaluation is easy to understand and follow, with clear rules and objectives.
• Quick Path to Funding: With only 5 minimum trading days required, traders can get funded faster if they meet the targets.
• Favorable Profit Sharing: Funded traders keep 80% of their profits, with the option to increase to 90% on a PRO+ account.
• Immediate Withdrawals: Take Profit Trader allows traders to withdraw profits as soon as they are earned, with no delays.

Cons:

• Limited Account Size Options: The maximum account size of $150,000 may not be sufficient for some traders.
• Trailing Drawdown Only: This can be restrictive for traders who prefer the stability of a static drawdown.

Pricing and Discounts

Apex Trader Funding generally offers more competitive pricing, especially with the coupon code "EQCXPUTY," which gives you at least 50% off the evaluation fee. This makes it an ideal choice for traders who want to minimize their upfront costs.

Take Profit Trader offers a similar discount with the code "CHOOCH," reducing the cost of their evaluation process by 50%. While the pricing might be slightly higher compared to Apex, the value lies in the firm’s favorable funding rules and immediate profit withdrawals.

Conclusion: Which is Better?

Apex Trader Funding stands out as the best option for traders who are cost-conscious and looking for flexibility in account size and drawdown options. The broader range of account offerings and more extensive evaluation process provide a solid foundation for traders who want to explore different strategies or trade with larger accounts.

On the other hand, Take Profit Trader excels in its simplicity and trader-friendly rules. With a quick path to funding, favorable payout rules, and the ability to withdraw profits immediately, it’s the superior choice for traders who value clear rules and quick access to profits.

Ultimately, if cost is your primary concern, Apex Trader Funding is likely the better option. However, if you prioritize the quality of funding rules and profit payout options, Take Profit Trader offers a more attractive proposition.

To get started, visit Apex Trader Funding and use the code "EQCXPUTY" for a discount, or check out Take Profit Trader and use the code "CHOOCH" to get started with favorable terms.

Disclosure:

• As an affiliate, we earn from qualifying transactions.