THE LEGENDS TRADING VS APEX TRADER FUNDING

Overview

The Legends Trading was set up by a group of highly experienced futures professionals, spearhead by CEO Greg Khojikian. Based in Calabasas, California, in the US, Legends Trading is carefully designed to offer aspiring traders all the resources necessary for success in the futures market.

The firm’s demanding three-step evaluation process offers skilled traders a unique chance to showcase their skills and receive as much as $250,000 in capital. They distinguish themselves by providing their traders with the industry’s best platforms (such as Tradovate and NinjaTrader), as well as the flexibility to manage multiple accounts simultaneously. By providing you with all the capital you need, the firm enables you to concentrate on improving your skills and making wise trading moves; minimising your risk and helping you reach your full potential.

Legends Trading are fully aware of the significance of financial control for traders, who can request payouts twice each month – providing them with a reliable income stream and the opportunity to either reinvest or withdraw profits as suits. As a result, traders can better adapt to changes in market conditions and manage their profits strategically.

Legends Trading’s accessible, all-encompassing dashboard is another major plus, helping traders to keep organised and optimise their trading strategies. Seamless performance tracking, trend analysis and account management mean you’ll have all the data you need to make better-informed decisions, and in turn generate higher profits.

Apex Trader Funding is another US-based firm, this time from Austin, Texas. In operation for more than two years now, the firm was set up by CEO Darrel Martin in response to his disenchantment with existing prop firms and a wish to create something more customer orientated.

The prop firm provides access to both Rithmic and Tradovate platforms and has account sizes spanning $25,000 though to $300,000 – meaning there’s one to suit everybody. The one-phase evaluation process streamlines the entry process for qualified traders. Profit targets vary with account size, ranging from $1,500 to $20,000, and maximum total drawdowns also follow the same structure, ranging from $625 to $1,500. Another significant advantage to Apex Trader Funding is the ability to trade as many as 20 funded accounts. What’s more, trading is allowed during holidays and news events. Apex provides an attractive range of futures instruments to trade, from stock index futures and interest rate futures to currencies and agricultural futures.

The Legends Trading is ideal for:	Apex Trader Funding is ideal for:
Traders who want to join a thriving community	Those valuing flexibility and minimal rules
Those looking to manage multiple accounts at once	Traders who might want to trade lots of funded accounts simultaneously.
Traders who’ll benefit from unlimited trading days	Traders who can take advantage of the larger initial balances on offer

Comparing The Legends Trading and Apex Trader Funding

When the offerings are as good as those of The Legends Trading and Apex Trader Funding, choosing which prop firm to work with can be tricky. The table below compares the features and rules of the two firms to give you a starting point.

Feature	The Legends Trading	Apex Trader Funding
Instruments	US futures markets, including the S&P 500 (ES), Nasdaq 100 (NQ), Crude Oil (CL), Gold (GC), the Nikkei 225 (NKD), Bitcoin (BTC), and many more	Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures, Cryptocurrency Futures
Challenge Types	Three-step Evaluation Process	One-step Evaluation Process
Challenge Account Sizes	$25,000 $50,000 $100,000 $150,000 $250,000	Full: $25,000, up to $300,000 Static: $100,000
Challenge Cost	$145/month to $505/month	Rithmic: Full $147 to $657 month, Static $137 month. Tradovate: Full $167 to $677 month, Static $157 month
Minimum Trading Days	10 days	7 days
Profit Target	$1,500 up to $15,000	$1,500 to $20,000
Maximum Position Size	4 to 25 contracts	4 to 35 contracts
Payout Split	90%	Receive 100% of the first $25,000 per account and 90% thereafter

Additional points:

The Legends Trading: The Practice Account (with a Level 1 CME Bundle) costs $85 monthly and is targeted towards traders who want to take their time to develop a robust trading strategy. It gives you an entirely risk-free environment in which to try out techniques and familiarise yourself with the platform before beginning your official evaluation.
Apex Trader Funding: You just need to achieve you profit target before hitting your maximum drawdown within seven days of trading in order to qualify for funding. Traders have a choice between Rithmic and Tradovate licenses – both sophisticated platforms with top-qualify customer service. Tradovate in particular is famed for its accessibility, is compatible across multiple devices, and has group trade features that allow you to copy trades across different accounts.

Closer look at Apex Trader Funding vs The Legends Trading

The table below examines the rules of each prop firm side by side.

Rule Category	Apex Trader Funding	The Legends Trading
Scalping	Allowed	Allowed
Day Trading	Allowed	Allowed
Swing Trading	Allowed	Allowed
Holding Positions Overnight	Allowed	Allowed
Holding Positions Over Weekends	Allowed	Allowed
News Trading	Allowed	Allowed

Maximum Daily Loss:

The Legends Trading: You’ll need to prove solid risk management abilities by staying within your package’s specified daily loss limit. Any positions that exceed the limit will be automatically closed to safeguard your capital.

Apex Trader Funding: The firm concentrates on the Trailing Threshold.

Trailing Threshold:

The Legends Trading: The firm’s dynamic safety net automatically adjusts your maximum account deficit according to how much profit you generate, helping you to safeguard your capital and maximise your profits at the same time.

Apex Trader Funding: You start with your initial balance and allowed contracts for your chosen plan. You can trade up to the maximum contract size for your plan – including for micros. The maximum loss drawdown differs for each plan, and there’s no daily maximum drawdown limit.
- For FULL accounts, the maximum drawdown in a funded account stops trailing when the liquidation threshold is $100 plus the starting account balance. For example, for a $50K plan, this is $50,100.
- For STATIC accounts, the drawdown doesn’t change – as the name suggests. So if you have a $100K STATIC account, your drawdown is set at $99,375 and won’t move from here.

Withdrawals:

The Legends Trading:
- Once you’ve completed the Legends Maker stage, you’ll be able to request payouts through the secure client portal through either bank wire, PayPal, cryptocurrency or ACH.
- When you’re matched with a funding partner, your trades are executed through a licensed brokerage. You just need to request withdrawals using the portal and they’ll be processed within one to five working days.
- Requests submitted from the 1^st to the 5^th of each month will be paid out on the 15^th, and those from the 15^th – 20^th will be paid out on the last day of the month. Approvals will occur at any time within designated approval windows.
- You’ll need to accumulate a minimum of 10 separate trading days (on which you’ve placed actual trades) during the period between each payout request.
- There is a minimum withdrawal amount of $1,000 for the first three months in which you request withdrawals, regardless of whether you request one or two withdrawals each month.
- The firm requires that you maintain a minimum account balance threshold (equal to your starting balance plus $100) between each withdrawal so as to ensure you’re managing risk responsibly.

Apex Trader Funding:
- Withdrawals are processed two times a month, on the 15^th and the last working day of the month.
- Traders receive 100% of their first $25,000 in profit and 90% subsequently.
- Payouts are processed by Plane, a payment processor. You can choose from wire transfer, PayPal, ACH or cryptocurrency.
- You’ll need to accumulate 10 trading days before you’re eligible for your first payout. Thereafter you’ll need to accumulate 10 trading days between each payout.
- There is a minimum withdrawal amount of $1,000 for all withdrawals.
- The first three withdrawals are capped according to account size, with no limit thereafter.

Leverage:

Leverage Futures	Apex Trader Funding	The Legends Trading
Futures	1:1	1:1

Risk management:

The Legends Trading: Capital is protected through trailing stops, daily loss limits and also initial withdrawal limits.

Apex Trader Funding: In contrast, Apex Trader Funding has minimal rules – while there is a maximum drawdown rule, there’s no daily loss limit. This is ideal for more experienced traders already confident about their strategies and ability to manage risk, giving them more flexibility in how they trade.

Additional points:

Apex Trader Funding: You can trade any day, for 23 hours a day, including during news events and holidays. Trades have to be closed and pending orders cancelled before 4.59pm until 6.00pm ET.

The Legends Trading vs Apex Trader Funding: Pros and Cons

The Legends Trading

Pros:

A good range of account sizes, beginning at $25,000 and going up to $250,000.
Generous 90% profit share.
Minimal rules.
Unlimited trading days.
Access to industry-leading platforms such as Tradovate and NinjaTrader, offering sophisticated tools and functions.
Swift, secure payouts.
Continuous educational recourses and support to help you advance your trading career.

Cons:

Limited information currently available about Legends Trading in comparison to better known prop firms.
No Trustpilot rating.
No free trial offered.

Apex Trader Funding:

Pros:

Straightforward one-phase evaluation.
Generous profit share.
Two payouts allowed each month.
No limit on maximum payout.
Laid-back rules.
Strong reputation on all fronts.
Trading during holidays and news events is permitted.
Risk management protocols have been simplified.
No daily profit targets.
No consecutive trading day requirements.

Cons:

No support for cross session trading.
Relatively limited range of trading technology and tools.

Conclusion

The Legends Trading and Apex Trader Funding are both well-established prop firms providing you with access to funding, but each targets a different set of requirements:

The Legends Trading: For experienced traders who are confident about their abilities and the requirements of the firm, the Legends Trading could well be a good move. However, for those with less experience, it’s a good idea to begin with the firm’s practice account to establish a strong foundation before trying the Legends Trading evaluation. Make use of the educational materials on offer to hone your strategies and bolster your risk management abilities.

Apex Trader Funding: Apex’s bigger variety of account sizes, instruments and platforms mean they can easily cater to a whole range of experience levels and requirements. The flexible drawdown rules are a particular draw.

Ultimately, the ideal choice for you will depend on your personal trading background, which encompasses your appetite for risk, how much experience you have, and which instruments and platforms you like to use. As such, it makes sense to look into both prop firms and get to grips with the minutiae of how they work so you can choose the right one for you. You can find out more by reading our detailed reviews of each firm.

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