In your trading journey, you might encounter situations where your evaluation account becomes inactive due to breaking a rule—such as reaching the maximum drawdown threshold. When this happens, an error message stating, “Trades Can Only Be Placed By Administrator,” may appear. If you wish to continue trading within your subscription period, you have the option to reset your account. This article provides detailed information on how to reset your evaluation account, our policies regarding resets, and important considerations to keep in mind.
Resetting Your Evaluation Account
When to Reset
If your evaluation account becomes inactive because you’ve broken a rule, you can choose to reset it. Resetting allows you to start fresh with a full balance, full trailing drawdown, and zero days traded.
How to Reset
To reset your account:
- Close All Positions: Before initiating a reset, ensure that all open positions are closed.
- Purchase a Reset:
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- Log In: Access your members’ area here.
- Select Account: Click on Reset next to the account you wish to reset.
- Warning: Make sure you reset the correct account, as this action is irreversible.
- Processing Time: The system typically processes resets within 10 minutes, but processing times may vary.
Important Notes on Resetting
Understanding how resets work is essential for managing your Apex Trader Funding accounts effectively. Below are the key guidelines and considerations to keep in mind when resetting an account:
Renewal Date Unchanged
- Resets do not extend your renewal or expiration date.
- Your renewal date remains exactly 30 days from the last billing date, regardless of resets.
Resetting a Canceled Evaluation Account
- If your Evaluation Account was canceled but is still within the subscription period, it can be reset manually to restore its balance and parameters.
- Resets do not reactivate canceled subscriptions or change renewal dates.
- Important: A canceled subscription cannot be converted into a Performance Account (PA).
Refund Policy
- No Refunds: Reset fees are non-refundable, even if the reset was made by mistake.
Resetting Passed Accounts
- DO NOT reset a passed account.
- This action is irreversible, and you will permanently lose any progress made.
- If you reset a passed account, you will need to start over with a fresh balance.
Impact of Resetting
- A reset will restore:
- Your drawdown.
- Your initial balance.
- Your accumulated trading days.
- However, a reset does not change your renewal date.
Resetting The Same Account Multiple Times
- If you reset an account (e.g., APEX-12345-12) and it generates a new account number (e.g., APEX-12345-13), then reset it again to APEX-12345-14 without taking any trades on account -13, you will not be eligible for a refund. This is considered a user error.
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To Avoid Issues:
- Always ensure you have traded and failed on the previous account (e.g., -13) before resetting.
- Keep track of which accounts you have traded and failed to avoid resetting an unused account.
No Penalty for Resetting
- You can reset your accounts as many times as needed without any penalties.
By following these guidelines, you can effectively manage your resets while avoiding common mistakes. Always track your accounts carefully and ensure you’re adhering to these rules to avoid unnecessary complications.
Our Policy on Resets Upon Monthly Auto-Renewal
Apex Trader Funding's reset policy is designed to simplify the process for traders and minimize unnecessary fees. If your Evaluation Account fails and you forget to cancel your subscription, a free reset will be applied automatically upon renewal, provided certain conditions are met. This guide explains the process and helps you manage resets effectively.
Conditions for Free Reset Upon Renewal
- Account Status: To qualify for the free reset, the account must be in failed status as of the market close prior to the renewal date.
- Successful Renewal Fee: The subscription renewal fee must be successfully charged. The free reset applies only when the renewal payment is processed.
- Automatic Process: The reset will happen automatically after the renewal. No action is required on your part.
Options Before Renewal
If you don’t want to wait for the automatic reset, you have two alternatives:
- Manual Reset: You can manually reset your account before the renewal date by paying the reset fee ($80 for Rithmic accounts / $100 for Tradovate accounts).
- Cancel and Sign Up for a New Account: You can choose to cancel your current account subscription and sign up for a new one. This prevents you from being charged for both a renewal and a reset fee, especially if you wish to take advantage of any available discount promotions.
Important Considerations
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No Retroactive Resets: If you reset your account manually before the renewal date and then it renews, you will not receive a refund for the reset fee.
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Evaluation Accounts Only: This policy applies exclusively to Evaluation Accounts. Performance Accounts (PAs) are not eligible for auto-resets.
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Subsequent Failures: If your account fails again after the reset, it will not be reset for free unless it renews while in a failed status.
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Multiple Resets: Resets are only free upon renewal when the account is in a failed status. If you fail an active account and reset it, additional resets will require payment.
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This policy is designed to assist traders who might forget to cancel their accounts and sign up for new ones with available discount promotions. By automatically resetting failed accounts upon renewal, traders avoid having to pay both a renewal fee and a reset fee.
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How to Reset Your Account
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Log In to Your Dashboard
- Access your account from the Apex Trader Funding website.
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Select an Action
- For a new account: Go to Plan Signup and choose a plan.
- For a reset: Click Reset next to the desired account.
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Confirm Reset
- Confirm your reset. This action will:
- Restore your account balance.
- Restart the seven trading days.
- Maintain your billing cycle (does not change renewal date).
- Caution: Ensure you select the correct account. Resets are irreversible.
- Confirm your reset. This action will:
Overview Guide to Manage Resets
Reset Scenario Overview
| Scenario | Action |
| Failed Account at Renewal | Automatic reset is applied upon successful renewal. No action is required. |
| Need Immediate Trading Access | Perform a manual reset by paying the reset fee. |
| Account Cancelation | Cancel and open a new account to take advantage of discounts. |
| Avoid Renewal Charges | Cancel the account before the renewal date if you do not wish to continue the subscription. |
Reset Feature Overview
| Feature | Details |
| Free Reset Conditions | Failed account + Successful renewal fee. |
| Manual Reset Fees | $80 (Rithmic) or $100 (Tradovate). |
| Applicable to | Evaluation Accounts only. |
| Renewal Date Impact | Resets do not extend the billing cycle. |
| Refund Policy | No refunds for manual resets, even if a renewal occurs. |
| Multiple Reset Policy | Free resets only upon renewal if the account is in a failed status. |
Account Cancelation Policy
Canceling your Apex Trader Funding account is simple, but it’s essential to fully understand the implications and steps involved. This guide explains everything you need to know, presented in a clear and visual format, to help you avoid mistakes and manage your accounts effectively.
Cancelation Policy
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Validity Until Expiration: If you cancel your account or we cancel it due to a declined card, it remains valid until the expiration date. However, the account cannot be renewed once it is canceled.
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No Reinstatement: An account cannot be reinstated once it has been canceled. If you want to continue trading, you’ll need to start a new subscription.
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Consider Before Canceling: Be sure you want to cancel your account, as profits and trading days cannot be transferred or rolled over to a new account. Cancelations are irreversible.
Key Points About Cancelations
| Feature | Details |
|---|---|
| Canceled accounts stay active until they expire, but renewals are not possible after that. |
The account will expire at the end of the current billing period. This action is irreversible. |
| No Reinstatement | Once an account is canceled, it cannot be reactivated. |
| Profits & Days Traded | These cannot be transferred to a new account after cancellation. |
What Happens After Cancellation?
- Your account remains active until the end of the billing cycle, but cannot be renewed.
- Once canceled, Evaluation Accounts cannot be converted to PA Accounts.
- Any profits or trading days accumulated on the account will be forfeited.
Managing Multiple Subscriptions
| Scenario | Action to Take |
|---|---|
| Canceling One Account | Double-check the account name before clicking cancel to avoid errors. |
| Unsure Which Account to Cancel | Contact the Help Desk for clarification before taking any action. |
| Failed Accounts | These remain active unless canceled manually, so cancel them to avoid unintended charges. |
What if I Cancel by Mistake?
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Mistaken Cancelation Is Final
- If you cancel an account by mistake, you will need to start a new subscription.
- Canceled accounts cannot be reactivated or reinstated.
Avoiding Subscription Overcharges
- Accounts in a failed state will remain active and incur charges unless manually canceled.
- Prevent Unwanted Charges: Cancel unused accounts before market close on the day before the renewal date to avoid unnecessary billing.
How to Cancel an Account
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Log In
- Access your Apex Trader Funding website dashboard.
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Select the Account
- Click Cancel next to the subscription you wish to terminate.
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Timing is Key
- Cancelations must be completed before market close on the day prior to the renewal date to avoid charges.
Important Notes
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Irreversible Action: Cancelations are final and cannot be reversed. Make sure you're absolutely sure about your decision before proceeding.
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Evaluation Accounts: If an Evaluation Account is canceled or expired, it cannot be converted into a Performance Account (PA).
Special Notes for Rithmic Users
- You can remove canceled accounts from your Rithmic Dashboard via the Apex Trader Funding member dashboard.
- Caution: Once removed, these accounts become inactive, and you can no longer trade or convert them to PA accounts.
Summary
Canceling an account is straightforward, but it requires careful attention to avoid errors. Remember, once an account is canceled, it cannot be reinstated. If you are unsure or need guidance, reach out to the Apex Trader Funding Help Desk before proceeding. By following these steps, you can manage your subscriptions effectively and avoid unnecessary charges or disruptions.
When managing your Apex Trader Funding account, it’s crucial to understand the implications of canceling your account. Below is a comprehensive guide to help you navigate the cancellation process and avoid any unwanted issues.
Tips to Avoid Common Issues
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Double-Check Before Canceling
- Ensure you truly wish to cancel the account, as the action is irreversible.
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Cancel Before Renewal
- Always cancel at least one day before the renewal date to avoid unwanted charges.
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Contact The Help Desk for Guidance
- If you’re unsure which account to cancel, contact the Help Desk before proceeding.
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