The Legends Trading VS Apex Trader Funding

The Legends Trading VS Apex Trader Funding

Overview

The Legends Trading, Founded by a team of experienced futures professionals led by Greg Khojikian (CEO with 20+ years of experience), Legends Trading is a U.S. proprietary firm based in Calabasas, California. Recognizing the challenges faced by aspiring traders, Legends Trading was created to provide the tools and resources needed to succeed in the futures market.

The futures prop firm offers a unique opportunity for qualified traders. Through a rigorous 3-step evaluation process, they identify skilled individuals and equip them with up to $250,000 in capital. Legends Trading stands out by offering industry-leading platforms like NinjaTrader (TR) and Tradovate, along with the flexibility of managing multiple accounts. By providing capital, Legends Trading allows traders to focus on what matters most, honing their skills and making strategic trading decisions. This minimizes risk for the trader while maximizing their potential for success.

Legends Trading understands the importance of financial control. Traders have the power to request profits twice a month, ensuring a steady income stream and the ability to reinvest or withdraw funds as needed. This flexibility allows traders to adapt to changing market conditions and manage their finances strategically.

Legends Trading provides a user-friendly and comprehensive trader dashboard. This centralized hub empowers traders to stay organized and optimize their strategies. With effortless performance tracking, trend analysis, and account management, traders have all the information they need to make informed decisions and achieve maximum success.

Apex Trader Funding, hailing from Austin, Texas, in the United States, Apex Trader Funding (ATF) has been operational for over 2 years, under the guidance of its CEO Darrel Martin. The futures prop firm was founded out of dissatisfaction with existing funding companies and a desire to adopt a more customer-centric approach. ATF offers access to Rithmic and Tradovate, two trading platforms known for their data feeds and trade execution capabilities. With a large option of account sizes ranging from $25,000 to $300,000, Apex Trader Funding (ATF) provides a wide spectrum of entry points, allowing traders to choose a level of funding that matches their risk appetite. The prop firm has a single-step evaluation phase, potentially reducing the time and barriers to entry for qualified individuals. The profit targets and maximum total drawdowns are scaled according to account size, ranging from $1,500 to $20,000 for profit targets and $625 to $1,500 for maximum total drawdowns. Apex Trader Funding allows traders to day trade up to 20 funded accounts. Additionally, traders are not limited during holidays, news, or by any other cumbersome rules.

Apex Trader Funding offers a diverse selection of trading instruments including stock index futures like E-mini S&P 500, NASDAQ 100, and Mini-DOW, as well as interest rate futures such as 2-Year Note and 30-Year Bond. Currency futures like the Australian Dollar and Euro FX are also available, along with agricultural futures encompassing Corn, Wheat, and Soybeans.

The Legends Trading is best for:	Apex Trader Funding (ATF) is best for:
Traders who looking to part of a community	Traders who appreciate a trading platform with minimal rules, offering flexibility in their trading style.
Empowers trader to manage multiple accounts simultaneously	Traders who wants to have the possibility to trade a large amount of funded accounts at the same time.
Offersunlimited trading days	Traders who can make the most out of the larger initial balance provided by ATF.

Comparative of The Legends Trading and Apex Trader Funding: Prop Firms for Futures Traders

Navigating the world of proprietary trading firms can be a daunting task, especially when deciding between top prop firms like The Legends Trading and Apex Trader Funding (ATF).

Comparative Table of Apex Trader Funding and The Legends Trading Trader Rules:

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	3 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 up 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 dyas	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	90/10 (trader/firm)	Receive 100% of the first $25,000 per Account and 90/10 (trader/firm) Beyond That

Additional Points:

• The Legends Trading: The Practice Account with a Level 1 CME Bundle ($85/month).

This account is designed for traders who prefer to take their time developing a solid trading trategy. It provides a risk-free environment to experiment and gain familiarity with the platform’s features before you start your official evaluation.

• Apex Trader Funding:

• One Simple Step Hit your profit target before you hit your max drawdown with 7 days of trading, and you qualify!
• Apex Trader Funding allows futures day traders to choose between Rithmic-based platforms, like Rithmic and Tradovate license two cutting-edge trading platforms with industry-leading customer services. Tradovate is a futures trading platform renowned for its excellent ease of usage. Besides its compatibility across multiple devices, its group trade features enable trade copying across multiple accounts. 

Deeper Dive into Apex Trader Funding vs. The Legends Trading Trader

Comparative Table of The Legends Trading and Apex Trader Funding Rules:

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

1. Max Daily Loss (MDL):

• The Legends Trading:  Demonstrate your risk management skills by staying within your chosen package’s daily loss limit. Positions exceeding this threshold will be automatically closed to protect your capital.
• Apex Trader Funding: Focus on the Trailing Threshold

2. Trailing Threshold:

• The Legends Trading: This dynamic safety net automatically adjusts your maximum account deficit based on your generated profits. This helps you maximize profit potential while managing risk.

• Apex Trader Funding:
  Start with your initial balance and allowable contracts for the plan.
  • You can trade up to the maximum contracts. Micros can also be traded up to the max contract size for the plan.
  • The max loss drawdown varies for each plan. For example, on a 50k plan, it starts $2500 below 50k at $47,500.
  • There is no daily max drawdown limit.

For FULL accounts:

• In a paid/funded account, the max drawdown stops trailing when the liquidation threshold is at $100 plus the initial plan balance (i.e. $50,100 on a 50K plan). In other words, when your peak unrealized account balance is the initial plan balance, plus the trailing drawdown amount, plus $100, the trailing will stop.

For the STATIC accounts:

• The drawdown will remain unchanged as it is already static. For example, with a100k STATIC account, the drawdown will remain at $99,375 and will not change.

3. Withdrawal:

The Legends Trading: 

• Multiple Withdrawal Options: After completing the Legends Maker stage, you can request profits through the secure client portal using Bank Wire, ACH, Paypal, or Crypto.
• Fast and Secure Transfers: Once matched with a funding partner, your trades are executed through a licensed brokerage. Simply request funds through the portal, and they’ll be processed within 1-5 business days.
• Request Dates: Submit requests by the 1st-5th for payout on the 15th, or by the 15th-20th for payout on the month’s last day. Approvals may occur any time within designated approval windows.
• Minimum Trading Days: To request a payout, you must have at least 10 individual trading days with actual trades placed within the period between payout requests.
• Minimum Payout: The minimum withdrawal amount is $1,000 for the first three “withdrawal months” (whether you take one or two withdrawals per month).
• There are maximum withdrawal limits for the first three “withdrawal months” to ensure responsible risk management.
  • $25k Account: Maximum withdrawal per payout (twice monthly) – $1,500
  • $50k Account: Maximum withdrawal per payout (twice monthly) – $2,000
  • $100k Account: Maximum withdrawal per payout (twice monthly) – $2,500
  • $150k Account: Maximum withdrawal per payout (twice monthly) – $2,750
  • $250k Account: Maximum withdrawal per payout (twice monthly) – $3,000

• A minimum account balance threshold (starting balance + $100 ) must be maintained after each withdrawal. This ensures responsible risk management practices.

Apex Trader Funding:  This is one where we do really encourage you to read the withdrawal rules from their site. Below is a general high level of how it works. Full rules on withdrawals here:

• Withdrawals are processed twice per month on the 15th and last business day of the month
• You receive 100% of the first $25,000 profit. You receive 90% thereafter
• Payouts are done via Plane – a payment processor where you can then choose wire, ach, PayPal, crypto and several other methods to receive your money
• First Payout – you have to have 10 trading days complete before eligible All other payouts – you must have 10 trading days between payouts to be eligible
• All withdrawals – minimum $1,000 withdrawal
• 1st, 2nd and 3rd withdrawals – maximum withdrawal varies by account size, see link above
• 4th withdrawal onwards – no maximum

4. Leverage:

Leverage Futures	The Legends Trading	Apex Trader Funding
Futures	1:1	1.1

5. Risk Management:

• The Legends Trading:  The Legends Trading safeguards capital with trailing stops, daily loss limits, and initial withdrawal curbs.

• Apex Trader Funding (ATF): On the other hand, Apex Trader operates with minimal rules, providing traders with greater flexibility in their trading style. There is no daily loss limit; however, they do have a maximum drawdown rule. We think this approach might appeal to advanced traders who are confident in their trading strategy and risk management skills.

Additional Points:
Apex Funding Trader: Trade Any Day, 23 Hours A Day You can trade on holidays and during news from 6PM ET to 4:59 PM ET. Note trades must be closed and pending orders must be cancelled before 4:59 PM ET.

The Legends Trading vs. Apex Trader Funding: Pros and Cons

The Legends Trading:

Apex Trader Funding:

Conclusion

The Legends Trading and Apex Trader Funding are both reputable prop firms offering opportunities for aspiring traders to access funded accounts. However, they cater to different preferences:.

The Legends Trading: If you’re a seasoned trader confident in your skills and comfortable with the performance demands, Legends Trading could be a valuable stepping stone.

For less experienced traders, it may be prudent to start with the practice account to improve your skills and built a solid foundation before attempting the Legends Trading evaluation. Utilize the educational resources offert by Legend Trading to refine your strategies and risk management techniques.

Apex Trader Funding (ATF): More suitable for traders with varying experience levels and preferences due to the wider range of account sizes, instruments, and platform options. Their flexible drawdown rules might appeal to some.

The best choice boils down to your individual trading background, risk tolerance, and preferred instruments and platforms. Carefully research both prop firms, understand their specific details, and choose the one that best aligns with your unique trading goals and style.

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Dive deeper into The Legends Trading and Apex Trader Funding with our comprehensive Prop Firm Plus reviews: 

• The Legends Trading review 2024

• Apex Trader Funding review 2024