But I can get “80%” profits elsewhere - why should I choose Apteros?
We know about the Funded Trader Programs that claim to offer 80% profit splits.
However, focusing solely on the profit split is not the most important factor. What really matters is access to leverage.
Would you rather have an 80% profit split from a $250k account or a 60% profit split from a million-dollar account? The answer should be clear.
At Apteros, we evaluate traders using a $50k account, but our desk traders manage accounts that are significantly larger than at other prop firms.
Another thing to consider is the commissions and fees charged on funded accounts.
These are often hidden in the FAQs and can be higher than retail brokerage fees, eroding the so-called "profits" of these programs.
In trading, as in any business, overhead costs can have a big impact on your success.
For example, the average Round turn commissions for the E-Mini S&P 500 (ES) at these Funded Trader Programs range from $3.78-$4.50 USD, which is not in line with real proprietary trading firms but actually similar to retail rates.
At Apteros, our funded traders pay the 106.J CME Corporate Member rates of $1.22, all-in.
A Round Turn (R/T) is a single completed trade (both a buy and a sell).
To illustrate the difference in costs, let's assume you are a 15 Lot trader who completes three trades in a single day (which is very conservative for a professional prop trader).
Using the rates from a well-known Funded Trader Program (FTP), if you made $10,000 in gross profits for the month, your Net profits would be $3,974.30 with the FTP's higher profit split of 80%.
However, with Apteros, your Net profits would be $4,848.00. And this difference only grows as your size or trading frequency increases.
It is not uncommon for our desk traders to average over 15k Round turns (R/T) per month, which would result in trading commissions of $63,900 with the FTP compared to $18,300 with Apteros.
Please note that this example was oversimplified to illustrate a point and does not include exchange data fees or platform fees.
For rates on other CME products, see the 106.J. Membership rates on the CME Group's website.
Can I trade stocks in the Tryout?
No, we are exclusively a Futures trading prop firm and do not support stock trading.
Is a $50,000 account the only option?
During the Tryout, there is only one option ($50k). For now.
The purpose of this account is to evaluate your trading.
Once you have made it onto the Prop Desk, there is no set limit to how large you can scale your account.
If you become consistently profitable with clear risk management, we will provide you with almost unlimited funds to help you achieve your full profit potential.
At the end of the day, we are a PnL Prop Desk and it is in our interest to increase your account size.
What happens if I violate the daily loss limit or the maximum drawdown?
Your current Tryout will not be eligible for passing. If you want to reset your account and start fresh, pay a reset fee.
It’s a demo account, but this way you have skin in the game and experience some pain. If you no longer wish to Tryout, just cancel your monthly subscription.
Daily Loss Limit
Your Net PnL cannot hit or exceed this amount on any trading day or your Tryout will not be eligible for passing. Your positions may be flattened and any further trading for the day will be halted until the next trading day.
Drawdown
Our drawdown limit does not trail, like other firms. Just do not allow your account balance to hit or go below $46,000 ($4,000 loss from starting balance).
How long is the Tryout?
In order to pass, you must trade for a minimum of 30 trading days. Please note that the minimum number of trading days is more than a single month has, therefore to pass the Tryout, you will need to be in it for two billing cycles. We do require more consistency over a longer period of time than you might see elsewhere but our offering is far more robust.
Profit Target
Reach the $10,000 profit target. This is the minimum net profit required for passing the Tryout.
Simulated Trading Fees
Simulated “all-in commissions/exchange fees” are set to $1.80 per side for all regular products and $0.80 per side for micros.
What happens if I violate the daily loss limit or the maximum drawdown?
Your current Tryout will not be eligible for passing. If you want to reset your account and start fresh, pay a reset fee. It’s a demo account, but this way you have skin in the game and experience some pain. If you no longer wish to Tryout, just cancel your monthly subscription.
Permitted Trading Times
No holding positions into exchange reset periods or typical periods of low liquidity. Other than that, you can trade around the clock.
What happens once I’ve passed the Tryout?
- Onboard to the remote desk and trade live capital for Apteros.
- You’ll begin with a $4,000 max drawdown from starting balance and assigned a daily loss limit reflective of your Tryout track record.
- Platform, order routing, & market data fees are deducted from your trading account balance as they occur.
- You will be expected to abide by any firm directives to modify risk, sizing, going back to the demo, or the likes. There’s an element of trust here in that we will manage you with integrity and with your ongoing development at heart. We believe in starting new traders out small and responsibly helping them size up after displaying consistency.
