Apex Trader Funding vs AquaFutures: Evaluation Rules, Payouts, and Pricing Compared

Apex Trader Funding and AquaFutures both fund futures traders through a single 1-step evaluation, but the similarities end there. Apex has operated since 2020, pays a 100% profit split, and offers trailing drawdown accounts across five trading platforms, while AquaFutures, operating since 2024, pairs a 90% split with instant funding accounts, percentage-based profit targets, and crypto payment options. Here's how the two firms stack up on rules, payouts, and price.

Quick verdict

Apex Trader Funding is the more established option: a US firm operating since 2020, with 22 account offerings spanning $25,000 to $150,000, every one of them a 1-step evaluation built around trailing drawdown. Apex pays a 100% profit split with weekly payouts, and code PFT currently applies 90% off across its lineup.

AquaFutures is newer, operating out of the United Arab Emirates since 2024, with 11 account offerings across the same $25,000 to $150,000 range. Its Beginner and Standard tiers are 1-step evaluations, but it also sells instant funding accounts that skip the evaluation entirely. AquaFutures pays a 90% split and code PFT applies 40% off.

The core decision point: Apex offers a longer track record, more platform choice, and a full profit split. AquaFutures offers instant funding, crypto as a payment and payout method, and percentage-based profit targets instead of fixed dollar figures.

Company background and track record

Apex Trader Funding is based in the United States and has been operating since 2020. It trades through Rithmic and Tradovate as its brokers, and its account currency is USD. Apex's stated model emphasizes accessible evaluation pricing and near round-the-clock trading access, and the firm supports a large household account allowance for traders running multiple funded accounts.

AquaFutures is based in the United Arab Emirates and has been operating since 2024. Its accounts run on CME Data as the broker, also settled in USD.

For traders weighing firm stability, Apex's longer operating history since 2020 is a relevant data point next to AquaFutures' more recent 2024 start, though a longer track record on its own doesn't guarantee better trading conditions, and both firms' current rules should be judged on their own terms.

Evaluation model and account types

All 22 of Apex's offerings are 1-step evaluations. They split into two rule sets: Intraday Trail accounts, which enforce a max loss limit only, and EOD Trail accounts, which add a daily loss limit on top of the max loss limit. Both variants are available at $25,000, $50,000, $100,000, and $150,000 account sizes, with the fee varying by drawdown type, activation fee status, and account size.

AquaFutures splits its 11 offerings differently. Beginner accounts carry a 6% profit target, and Standard accounts carry an 8% profit target, both structured as 1-step evaluations. Alongside these, AquaFutures sells instant funding accounts (labeled Offering 3, 6, and 9 in its lineup) at $25,000, $50,000, and $100,000 that skip the evaluation phase entirely.

The structural difference matters: Apex has no instant funding option, so every trader must clear the 1-step evaluation before receiving a funded account. AquaFutures' instant funding accounts let a trader buy into a funded account directly, but they carry both a daily loss limit and a max loss limit, and they cost more upfront than the equivalent Beginner or Standard evaluation at the same size (for example, the $100,000 instant funding offering costs more than the $100,000 Beginner or Standard evaluation).

Profit targets and drawdown rules

Apex's profit targets are fixed dollar figures tied to account size: $1,500 at $25,000, $3,000 at $50,000, $6,000 at $100,000, and $9,000 at $150,000. Max loss limits scale from $1,000 to $4,000 across the same sizes. EOD Trail variants add a daily loss limit (ranging from $500 at $25,000 to $2,000 at $150,000) on top of the max loss, while Intraday Trail variants apply only the max loss limit.

AquaFutures' profit targets are percentage-based: 6% for Beginner accounts and 8% for Standard accounts, regardless of size. Max loss limits range from $1,500 to $5,000 depending on account size, and both Beginner and Standard accounts carry a daily loss limit throughout the evaluation.

This is a meaningful practical difference. Apex's Intraday Trail accounts have no daily loss limit at all, only the max loss constraint, whereas its EOD Trail accounts and every AquaFutures evaluation account impose a daily cap. Traders who prefer to know their dollar target before they start trading may find Apex's flat targets easier to plan around, since a $6,000 target on a $100,000 account never changes. AquaFutures' percentage-based targets scale with account size by design, which some traders find more intuitive when comparing across sizes, but it does mean the dollar amount needed isn't stated as plainly on the account page.

Profit splits and payout policy

Apex pays a 100% profit split across all 22 offerings, with weekly payouts available. Apex's payout mechanics involve meeting a minimum run of qualifying trading days, clearing a minimum withdrawal threshold, and maintaining an account balance above a safety net tied to the account's trailing drawdown amount before a payout can be requested. Each performance account is also limited in how many payouts it can process before the account closes, after which traders can open additional accounts.

AquaFutures pays a 90% split on its accounts, per its published account facts, and its payout timing differs by account type: Weekly for Beginner accounts, and Bi-weekly for both Standard and instant funding accounts. AquaFutures' own marketing also describes a period of enhanced early payouts before settling into its standard split, though the account-level split documented in its offerings is 90%.

Payout methods differ meaningfully between the two firms. Apex pays via ACH or plane. AquaFutures pays via bank transfer, crypto, or Riseworks, giving traders outside traditional banking rails more flexibility to receive funds.

Platforms, brokers, and payment options

Apex supports a wider platform selection: Rithmic, Tradovate, NinjaTrader, WealthCharts, and TradingView. That range gives traders more room to trade on the charting and execution tools they're already comfortable with, and Apex's own materials highlight a free NinjaTrader license as part of the package.

AquaFutures runs on a single platform, ProjectX, with CME Data as its broker. That's a narrower setup, and traders who already rely on NinjaTrader, TradingView, or Rithmic-based tools will need to adapt to ProjectX to trade with AquaFutures.

On payments, Apex accepts credit or debit card only. AquaFutures accepts credit or debit card as well as crypto, which extends its reach to traders who prefer not to use traditional card payments. Both firms trade futures exclusively, and both settle accounts in USD.

Pricing and current deals

Apex's evaluation fees range from $85 (5x Standard Intraday Trail, $25,000) up to $799 (EOD Trail, $150,000), depending on account size, drawdown type, and whether the account carries an activation fee. Code PFT applies 90% off across Apex's offerings (with the $150,000 EOD Trail account currently listed at 100% off under the same code).

AquaFutures' fees range from $65 (Beginner, $25,000) up to $698 (Offering 9 instant funding, $100,000). Code PFT applies 40% off across AquaFutures' lineup.

Apex's deeper discount percentage, combined with its 100% profit split, can make its effective cost relative to potential payout more favorable for traders who clear the evaluation, though the sticker price still varies widely depending on which of the 22 account types is chosen. AquaFutures' instant funding accounts cost more upfront than either firm's cheapest evaluation account, which is the tradeoff for skipping the evaluation phase.

Which firm suits which trader

Choose Apex Trader Funding if you want a firm with a longer operating history since 2020, a 100% profit split, and the widest platform choice among the two, including NinjaTrader and TradingView. Apex suits traders who are comfortable with trailing drawdown mechanics and who prefer knowing their exact dollar profit target before they start an evaluation.

Choose AquaFutures if you want the option to skip the evaluation entirely through an instant funding account, prefer percentage-based profit targets that scale naturally with account size, or want crypto available as both a payment and payout method. AquaFutures' 90% split is a fair tradeoff for traders who value those features over Apex's full payout.

Either way, trailing drawdown and percentage-based targets can behave differently than a trader expects under real market conditions. Traders newer to these mechanics can work through free lessons on Chart Academy to build risk-management fundamentals before committing an evaluation fee to either firm.

Frequently asked questions

Does Apex Trader Funding offer instant funding accounts?

No. All 22 of Apex Trader Funding's account offerings are 1-step evaluations built around either Intraday Trail or EOD Trail drawdown rules. There is no instant funding option in its current lineup.

What's the difference between Apex's Intraday Trail and EOD Trail accounts?

Intraday Trail accounts enforce only a max loss limit. EOD Trail accounts add a daily loss limit on top of the max loss limit. Both variants are available at $25,000, $50,000, $100,000, and $150,000, with pricing that varies by drawdown type and activation fee status.

Are AquaFutures profit targets the same dollar amount at every account size?

No. AquaFutures uses percentage-based targets rather than fixed dollar amounts: 6% for Beginner accounts and 8% for Standard accounts, applied across all its account sizes from $25,000 to $150,000.

What profit split does each firm pay?

Apex Trader Funding pays a 100% profit split across all 22 of its offerings. AquaFutures pays a 90% profit split across its account offerings.

How do payout methods compare between the two firms?

Apex Trader Funding pays out via ACH or plane. AquaFutures pays out via bank transfer, crypto, or Riseworks, giving it more flexibility for traders who prefer crypto payouts.

What discount codes are currently available?

Code PFT applies 90% off across Apex Trader Funding's account offerings (with one $150,000 EOD Trail listing at 100% off). The same code PFT applies 40% off across AquaFutures' account offerings.

Data as of 2026-07-30.

Risk disclaimer: Trading carries a substantial risk of loss and is not suitable for everyone. Prop-firm evaluations charge fees and most traders do not pass. Nothing here is financial advice; figures can change, so verify current terms with the firm before purchasing.

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