Trying to Manage these Trading Combines. Anyone else?

[Laissez Faire]

You said it takes 6 months to withdraw, which isn't true.

I believe they must have changed their rules because it was 6 months in the past for sure.

So, maybe I was wrong and it's 4 months for full payout and not 6.

That doesn't change my argument. With E2T you could have withdrawn the full amount in one single withdrawal. That's a huge difference for me. Why chose a firm that puts a limit on your withdrawals over one that lets you withdraw freely?

Stupid rule, sure, as i have said before ..., but doesn't make them scammers.

Stupid for the trader, yes, but not for the firm. It's by design. Keep the "money" locked up as the chances are bigger that the trader will lose them by the time he's eligible for a payout.

With E2T there is no conflict of interest when trading a live account as you actually generated those profits.

With Apex there are no profits generated as you trade only in a simulator. That's a win-lose situation for the parties involved. As such, Apex will do whatever they can to prevent a payout. This is why they have this rule.

 

[p0box4]

I believe they must have changed their rules because it was 6 months in the past for sure.

So, maybe I was wrong and it's 4 months for full payout and not 6.

That doesn't change my argument. With E2T you could have withdrawn the full amount in one single withdrawal. That's a huge difference for me. Why chose a firm that puts a limit on your withdrawals over one that lets you withdraw freely?



Stupid for the trader, yes, but not for the firm. It's by design. Keep the "money" locked up as the chances are bigger that the trader will lose them by the time he's eligible for a payout.

With E2T there is no conflict of interest when trading a live account as you actually generated those profits.

With Apex there are no profits generated as you trade only in a simulator. That's a win-lose situation for the parties involved. As such, Apex will do whatever they can to prevent a payout. This is why they have this rule.

It wasn't 6 months in the past either. In the past you could only withdraw once per month and after 20 active trading days, so that would still be 4 months.

 

[ZTrader888]

Also the Apex payout policy is longer than other prop firms. If you're funded after 7 days, you have to trade at least 10 days before requesting a payout. And then there's a max payout you can request. With E2T, the evaluation period is 15 days and you can request payouts immediately if that's what you want to do. Most traders want to build their accounts before requesting a payout, however.

 

[p0box4]

Prove it.

Here you go:

 

[ZTrader888]

"For your first payout, you must have a total of 10 (ten) separate, individual, trading days, where trades were actual placed on those ten days, according to the PA guidelines, before you can request the first payout. Each ongoing payout request requires a minimum of 10 (ten) trading days between payout requests, where trades were actually traded on ten individual, separate trading days. The 10 active trading days is from request to request, not based on request approval dates, when the funds were deducted from the trading account, or when payouts were sent or received. "

This means that even if you're funded at 7 days, you still can't request a payout until you've traded 17 days ( 7 + 10 ). If your evaluation time takes longer, then just add that on to the total time required before you can request a payout. Other firms are straight forward: 15 day evaluation period. Can withdraw immediately.
Apex is NOT transparent about this. Turns out that they have the longest payout time requirement of all the firms out there.

 

[Laissez Faire]

Here you go:

Yeah. Like I said yesterday, though. Even if you can withdraw twice per month your "money" is still locked down for 4 months. Depending on how much profits you generated of course.

 

[p0box4]

"For your first payout, you must have a total of 10 (ten) separate, individual, trading days, where trades were actual placed on those ten days, according to the PA guidelines, before you can request the first payout. Each ongoing payout request requires a minimum of 10 (ten) trading days between payout requests, where trades were actually traded on ten individual, separate trading days. The 10 active trading days is from request to request, not based on request approval dates, when the funds were deducted from the trading account, or when payouts were sent or received. "

This means that even if you're funded at 7 days, you still can't request a payout until you've traded 17 days ( 7 + 10 ). If your evaluation time takes longer, then just add that on to the total time required before you can request a payout. Other firms are straight forward: 15 day evaluation period. Can withdraw immediately.
Apex is NOT transparent about this. Turns out that they have the longest payout time requirement of all the firms out there.

How are they not transparant about it when it is clearly explained in their FAQ?

And no, they do not have the longest payout time requirement of all the firms out there, i know of 2 that have a longer payout time, Bulenox and LeeLoo.

There might be more, i don't know the rules of all of them.
But again, the lies just keep coming .

 

[p0box4]

Yeah. Like I said yesterday, though. Even if you can withdraw twice per month your "money" is still locked down for 4 months. Depending on how much profits you generated of course.

True, i never said otherwise, never defended that rule nor said i liked their rules.

But still, doesn't make them scammers as they have been accused off.

 

[Laissez Faire]

True, i never said otherwise, never defended that rule nor said i liked their rules.

But still, doesn't make them scammers as they have been accused off.

Depends on how you define a scam. I'd say most of these firms come very close as they promise something they're not really delivering. So, that's not unique for Apex.

With Apex, they say they're offering funding and a proprietary firm. As far as I understand it you're trading on a simulator account. This is also the case of most other firms. I believe E2T and TopStep is the exception. Not meant as a recommendation of either firm by the way.

 

[p0box4]

Depends on how you define a scam. I'd say most of these firms come very close as they promise something they're not really delivering. So, that's not unique for Apex.

With Apex, they say they're offering funding and a proprietary firm. As far as I understand it you're trading on a simulator account. This is also the case of most other firms. I believe E2T and TopStep is the exception. Not meant as a recommendation of either firm by the way.

Well, in my opinion it doesn't really matter how they make their money, from successful clients or people who pay the fee's. I think everyone with half a brain knows all of these firms mostly make money from clients who keep failing over and over again. The one with the least rules should be the easiest to pass.

If they eat losses of successful clients by paying their profits without copying their trades in a live account, copy their trades on a live account or let the successful clients trade on a live account on their own, in the end as long as they pay traders who succeed it isn't a scam and they deliver what they promise.