Jon Rittenbock
US • 3/22/2025
Shady Company:Won my chargeback against Apex Trader Funding. If you have been played by Apex. file a chargeback for eval and activation fees. You will win.
For a long time I was a big supporter of APEX, I started trading with them beginning of September 2024. By the end October of 2024 I had 5 50k accounts with APEX. My first 2 payouts I had no issue getting but once I got to the third payout opportunity that’s when they started pulling my leg and playing games. My payout request was denied for “erratic trading”. Which made no sense because I was trading the same way that got me my first 2 payouts. I went back and forth with apex customer service for about 3 days outlining my trades and explaining my scalping strategy which is break in structure-retest-continuation of initial directional move. My stop loss is always 30 ticks and my take profit is always 55-70 ticks. As for position sizing I use max 5 MNQ contracts. I shoot for 200 in profit daily. APEX said they wouldn’t pay me out for that period and I should trade another set of minimum required days. Even though I was disappointed I decided to chuck it up to a one time misunderstanding. I did what they asked traded another minimum set of days which ended up being a win streak for me. My daily profits ranged $210-$340. I had no alerts on my account for broken rules and I was well above the safety net amount requirement. I requested a payout and got denied again. I of course contacted customer support and they once again gave me the same excuse “erratic trading” and asked me to send them a video 10-15 minutes long for 2 trading days. Showing my face, hands and computer screen explaining my trades while I take them. I did it because I have a tripod and nice camera. Even though making the video was a tad bit embarrassing because I have a minor lisp when I speak. I sent them a video and 5 days later they finally got back to me stating they would not payout. Me being fed up I contacted my bank and filed a chargeback for my past evaluation and account activation fees. It took until this month to recoup 80% of what I lost in eval and lifetime PA activation fees. I’m still waiting on $250 to be returned to me and once that happens which should be in about 10-15 days according to Bank of America. I will come back to this post and post my communications with APEX. APEX is shady and even though it may seem like you can’t win against them you can. I encourage all who have been played by APEX file chargebacks, make a complaint on the BBB, file a report with the FTC, write your attorney general and make a report with the CFTC. If the name APEX keeps coming across banks and consumer protection agencies desks eventually they will look into them and this shady firm in the prop space will eventually disappear.