If you’re on the lookout for ways to boost your trading game by gaining more capital and support, you might be weighing your options in the world of proprietary trading. Given the multitude of prop trading firms available, it can be a real puzzle to figure out the best fit for you.
In this competitive field, Take Profit Trader and Apex Trader Funding are two platforms catching the eye of traders seeking to enhance their profits in the financial market. Both offer unique benefits and features, marking them as popular choices among traders.
In this overview, we will break down the Take Profit Trader vs Apex Trader Funding comparison to assist you in making a well-informed decision tailored to your trading needs.
Take Profit Trader Background Information
When you dive into the background of Take Profit Trader, it’s evident that the firm was born out of founder James Sixsmith’s vision to transform the trading landscape. He was all about cutting down risks and enhancing traders’ skills.
Specializing in the futures market, Take Profit Trader’s primary mission is to arm traders with the necessary funding, thus allowing them to manage substantial capital while circumventing personal financial risks.
Beyond just facilitating trades, the firm is deeply committed to the educational growth of its users, offering an array of resources and courses at no cost.
The platform is equipped with sophisticated charting tools and technical indicators, enabling users to thoroughly analyze market conditions and execute well-informed trades. Additionally, it accommodates a diverse set of trading strategies, ensuring they align with each individual’s unique approach to trading.
Apex Trader Funding
Apex Trader Funding, established by Darrell Martin — a rancher turned day trader — has grown into a global community with over 30,000 members across more than 150 countries since its inception in 2008. Living by the motto “Traders Helping Traders,” the firm fosters a supportive environment for its extensive network.
As a proprietary trading firm, Apex Trader Funding is committed to providing funding programs for dedicated day traders around the world. It stands out with its unique policy that allows adept traders to utilize the firm’s capital for actively trading futures contracts, including micro contracts.
A standout aspect of Apex Trader Funding is its One-Step Evaluation Process, which streamlines the qualification stage for traders.
Take Profit Trader vs Apex Trader Funding: The Technical Details
Lets compare the technical details of both trading platforms so you can decide which one will fit your trading style:
- Evaluation Types: Both platforms offer a one-step evaluation process.
- Instant Funding Account Type: Neither Take Profit Trader nor Apex Trader Funding offers instant funding account types.
- Minimum Trading Days: Take Profit Trader requires 10 days, and Apex Trader Funding requires 7 days for their evaluation process.
- Profit Target: Both platforms have a profit target of 6%.
- Trading Platform: Take Profit Trader supports TradingView, Tradovate, and Ninjatrader; Apex Trader Funding supports NinjaTrader and Tradovate.
Take Profit Trader vs Apex Trader Funding: Pros & Cons
Take Profit Trader Pros & Cons
Pros:
- Withdrawals can be made right away without any minimum trading days.
- Enjoy an 80% share of the profits, a good profit split.
- Pro account holders benefit from the option of three resets, enhancing flexibility in strategy.
- Traders have access to a broad selection of trading platforms, suiting various preferences.
- A diverse range of future instruments is available, broadening trading opportunities.
- Pro accounts are subject to just a single fee, simplifying the cost structure.
- Profit goals are set realistically, aligning with achievable trading outcomes.
- Regularly scheduled trading competitions offer attractive prizes, adding an element of excitement.
- Customer support is highly regarded for its quality, ensuring trader queries are efficiently addressed.
Cons:
- Currently, trading is limited to futures, with no options for forex, stocks, or cryptocurrencies.
- The use of automated trading systems is restricted, which may limit certain trading strategies.
- Holding positions overnight or during significant news events is prohibited, affecting trading flexibility.
- A monthly evaluation fee is applied, adding to the costs for traders.
Apex Trader Funding Pros & Cons
Pros:
- Offers varied account sizes, allowing contract sizes up to $300,000, catering to traders of different levels.
- The rules are straightforward and easy to comprehend, facilitating a smooth trading process.
- Supports an extensive array of trading strategies, including news trading, providing flexibility.
- Streamlines the process with a one-step evaluation, making it simpler for traders to qualify for funding.
- Allows for two payouts per month, enhancing access to earnings without a cap on the maximum payout, adding to its appeal.
- Embraces relaxed trading rules and has built a solid reputation globally, available in over 100 countries, thus broadening its reach.
- Permits holiday trading and does not impose daily drawdown or scaling restrictions, offering more freedom in trading strategies.
- Simplifies risk management, eliminating daily profit targets, and does not require trading on consecutive days, offering flexibility to trade according to one’s schedule.
Cons:
- Trading is exclusively in futures, limiting options for those interested in other markets.
- Involves recurring monthly fees, which could be a deterrent for some traders considering the platform.
- Does not allow for cross-session trading, restricting certain trading strategies.
- Offers limited trading technology and tools, which might not meet the needs of all traders seeking advanced functionalities.
Take Profit Trader vs Apex Trader Funding: Closing Thoughts
In navigating the proprietary trading firm landscape, finding the right fit to enhance your trading with additional capital and support can be quite the task. Take Profit Trader and Apex Trader Funding stand out to traders eager to increase their financial market profits, each providing unique features and benefits that have made them popular choices.
Take Profit Trader, inspired by founder James Sixsmith’s vision, prioritizes reducing risks and enhancing trading skills, making it a prime choice for those looking into the futures market. It offers an ideal environment for traders seeking educational growth through an array of free resources and courses, encouraging a deep dive into various trading strategies without risking personal funds.
Apex Trader Funding caters to a broad audience with its one-step evaluation process and a supportive global community. Its flexibility in trading strategies, such as news trading, and less stringent rules appeal to traders who prefer a more straightforward path to funding.
Both platforms aim for realistic profit targets and lower trading barriers, yet they cater to different preferences in terms of trading days required and permitted trading strategies. Whether you’re aiming to refine your trading skills or become a more profitable trader, the choice between these platforms will significantly depend on your specific trading journey and style.
If Take Profit Trader’s focus on education and strategy variety resonates with you, or if Apex Trader Funding’s global reach and simplified evaluation process align more closely with your trading goals, further exploration might just pinpoint your ideal trading partner.
To learn more about what Take Profit Trader has to offer, Click Here.
For more information on Apex Trader Funding’s features, Click Here.
Go to top
Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsem*nt or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.
