- You trade forex pairs, indices, or crypto as CFDs
- You want a proven 10+ year track record with $500M+ paid out
- You prefer simpler post-funding: no monthly PA fees, no consistency rule
- You value a refundable one-time challenge fee with $0 post-funding overhead
- You trade ES, NQ, CL, or other CME futures
- You want 100% of the first $25K per funded account
- You plan to stack multiple accounts (up to 20)
- You can handle the 50% consistency rule and $85/mo PA fees (or $140 one-time lifetime)
Why this comparison exists: FTMO and Apex are not direct competitors — one is forex/CFD, the other is futures. But they're both top-of-market in their category, and traders switching asset classes often ask which one to choose. This guide helps you decide based on what you actually trade, not just the price tag. For our review methodology, see how we review prop firms. For individual deep dives, see our FTMO review and Apex Trader Funding review.
Different Markets, Different Firms
The most important thing to understand: FTMO and Apex do not compete for the same traders. FTMO is a forex/CFD prop firm. Apex is a futures prop firm. If you trade EUR/USD, you cannot use Apex. If you trade ES futures, you cannot use FTMO.
The comparison only matters if you're deciding which market to trade through a prop firm, or if you're switching from one asset class to another. With that framing, here's how they stack up.
Cost to Get Funded
| Metric | FTMO | Apex |
|---|---|---|
| Account size | $10K - $200K | $25K - $300K |
| $50K challenge cost | €345 (~$370) one-time, refundable after 1st payout | ~$197 one-time eval (50K EOD under 4.0; often 70-90% off) |
| Evaluation phases | 2 phases (Challenge + Verification) | 1 phase |
| Time to pass (minimum) | ~14 days (4 min per phase) | 7 days minimum |
| Cost if you pass in 1 month | €345 (refunded after first payout) | $197 one-time / ~$20-60 on promo |
| Cost if you pass in 3 months | €345 (same — one-time fee) | $197 one-time (same — does not recur) |
| Post-funding monthly fees | $0 | $85/mo per funded account |
Key insight: Since Apex 4.0 (March 2026), both firms now charge one-time eval fees — FTMO's €345 and Apex's ~$197 (50K EOD). The difference: FTMO refunds the fee after your first payout; Apex does not, but runs near-constant 70-90% off promos that can drop the eval to $20-60. Apex also charges $85/mo per funded account (or $140 one-time lifetime), while FTMO charges $0 post-funding.
Evaluation Rules
| Rule | FTMO | Apex |
|---|---|---|
| Profit target | Phase 1: 10% / Phase 2: 5% | Varies by account ($3K on 50K Full) |
| Daily loss limit | 5% of initial balance | None on Full eval (trailing drawdown only) |
| Max drawdown | 10% of initial balance (static) | Trailing from peak equity (e.g., $2,500 on 50K) |
| Drawdown type | Static — doesn't move | Trailing — follows your high-water mark |
| Min trading days | 4 days per phase | 7 days |
| Max time limit | Unlimited (min 4 trading days per phase) | No time limit (30-day eval access per purchase) |
| News trading | Allowed during eval; Standard funded restricts ±2 min of news (Swing: unrestricted) | Historically restricted near major events; policy varies by account type |
| Weekend holding | Swing account: allowed. Standard account: no weekend holds (overnight OK) | No — positions must close by session end |
FTMO's static drawdown is more forgiving for swing traders and position holders. You know exactly where your floor is from day one. Apex's trailing drawdown punishes early winners who give back gains — if you run up $2,000 on day one and then have a losing streak, your floor has moved up with you.
Post-Funding Reality
This is where the differences really show. Passing the eval is one thing — operating the funded account is another.
| Post-Funding | FTMO | Apex |
|---|---|---|
| Payout split | 80/20 → scales to 90/10 | 100% first $25K per PA, then 90/10 |
| Payout frequency | Bi-weekly (14 calendar days) | Twice monthly (after initial waiting period) |
| First payout wait | 14 days after first trade | ~30 days from funded account activation |
| Monthly account fees | $0 | $85/mo per Performance Account |
| Consistency rule | None | 50% rule — no single day > 50% of total profit |
| Contract reduction | No — trade same size as eval | Yes — starts at reduced contracts, scales back up |
| Scaling plan | Account size increases based on profit | Contract limits increase over time |
| Max accounts | No limit on accounts (max $400K total allocation) | Up to 20 Performance Accounts |
The Apex trade-off: Apex's 100% first $25K payout is the best headline number in the industry. But you only get there after clearing the 50% consistency rule, waiting out the initial period, paying $85/mo per account, and trading with reduced contracts. FTMO's 80/20 is less flashy, but you start trading full size with no monthly fees and no consistency gate.
Who Should Choose What
Choose FTMO if you:
- Trade forex, indices, or crypto — FTMO is your only option between these two
- Want a clean, predictable post-funding experience with no hidden monthly fees
- Prefer static drawdown that doesn't punish early gains
- Trade around news events (FTMO Swing allows it; Standard restricts ±2 min)
- Hold positions overnight or over weekends (Swing account — Standard restricts weekends)
- Want the credibility of the longest-running major prop firm (est. 2015)
Choose Apex if you:
- Trade futures — Apex is your only option between these two
- Want the highest possible payout split (100% of first $25K)
- Plan to run multiple funded accounts simultaneously
- Are comfortable managing the 50% consistency rule
- Primarily scalp or day-trade (no overnight holds needed)
- Can take advantage of frequent discount promotions
Platforms and Execution
FTMO offers MetaTrader 4, MetaTrader 5, and cTrader. Execution is through FTMO's liquidity providers — spreads are competitive but not exchange-level. You're trading CFDs, which means no central order book.
Apex connects through Rithmic or Tradovate to live CME/CBOT/NYMEX futures markets. You're trading on real exchanges with real order books. Spreads are exchange-set, and execution is transparent. Platform choices include NinjaTrader, Tradovate, and several others via Rithmic.
Execution quality: Futures (Apex) inherently have more transparent execution because you're on a regulated exchange. Forex/CFD (FTMO) execution depends on the broker's liquidity providers. For most retail traders, the difference is negligible — but if execution transparency matters to you, futures wins.
Trust and Track Record
Prop firms live and die by trust — whether they actually pay traders. Here's the transparency picture for each.
| Trust Signal | FTMO | Apex |
|---|---|---|
| Founded | 2015 (Prague, Czech Republic) | 2021 (Austin, Texas) |
| Total paid to traders | $500M+ (publicly verified) | $718M+ since 2022 (publicly tracked) |
| Regulatory status | Unregulated (no prop firm is), but Czech-registered with transparent financials | Unregulated, US LLC, no public audits |
| Independent verification | Published case studies, Trustpilot 4.7/5 (16,000+ reviews) | Trustpilot 4.6/5 (8,000+ reviews), some controversy over rule changes |
| Notable controversies | Minimal — tightened leverage in 2023, otherwise clean record | Multiple rule changes post-funding (PA fees, consistency rule, contract reduction added over time) |
| Payout consistency | Reliable bi-weekly payouts, rarely disputed | Payouts happen but delays reported during high-volume periods |
The trust gap: FTMO has a 10+ year track record and has generally kept rules stable on existing funded traders. Apex has grown faster but has a pattern of retroactively tightening rules — adding the consistency rule, introducing PA fees, and reducing initial contract sizes for funded accounts. Both pay traders, but FTMO's stability is more predictable. For a deeper look at payout proof across the industry, see our prop firm payout proof guide.
Scaling and Long-Term Growth
Passing one evaluation is step one. The real question is what your earning ceiling looks like after 6-12 months.
| Scaling Factor | FTMO | Apex |
|---|---|---|
| Max accounts | No limit on accounts (max $400K allocation) | Up to 20 Performance Accounts |
| Account size increases | Scale-up plan: 25% increase every 4 months if profitable + drawdown under 5% | No account size increase — stack more PAs instead |
| Max capital under management | $400K total allocation (scales with Scaling Plan) | Theoretically unlimited (20 × $300K = $6M, but contract limits apply) |
| Monthly overhead at scale | $0 (no recurring fees) | $85 × number of PAs ($1,700/mo for 20 accounts) |
| Split improvement | 80/20 → 90/10 via scaling plan | 100% first $25K per PA → 90/10 after |
Apex's stacking model gives a higher theoretical ceiling — 20 accounts generating payouts simultaneously. But the practical ceiling is lower than it looks. Each PA costs $85/month, each starts with reduced contracts, and the 50% consistency rule applies to every single one. Most Apex traders operate 2-5 PAs profitably; running 20 is a full-time operation.
FTMO's scaling is simpler: no limit on number of accounts (up to $400K total allocation), growing over time with no monthly overhead. Each account can grow further through the Scaling Plan with periodic balance increases. Even without chasing the theoretical max, your practical earning potential is serious if you're consistently profitable.
If you want to compare Apex against other futures prop firms specifically, see Apex vs Topstep or run your numbers through the prop firm calculator.
The Bottom Line
This isn't really an either/or decision. If you trade forex, FTMO is the obvious choice — it's the most established forex prop firm with the cleanest post-funding model. If you trade futures, Apex offers the best payout upside but with more operational friction than Topstep.
The real question is whether you should be in forex or futures as a prop firm trader. Futures prop firms generally offer cheaper evaluations and higher payout splits. Forex prop firms give you access to a 24/5 market with more instruments. Your strategy dictates the market, and the market dictates the firm.
If you're still deciding between markets, start with the one where your strategy has a verifiable edge — not the one with the cheapest challenge fee.
Whichever firm you choose, tracking your trades properly is what separates traders who pass once from traders who stay funded. Use the prop firm calculator to model your realistic path to payout, and check the prop firm rules cheatsheet to keep every rule in one place.
