Traders begin suing Apex Trader Funding over Consistent Payout Denials with no Explanation

Summary

The video script discusses traders taking legal action against Apex Trader due to denied payouts, despite a history of approvals. It details a friend's case and a Reddit user's experience, highlighting issues with Apex's payment process and customer service. The speaker questions Apex's liquidity and PR strategy, suggesting a pattern of denials for long-term, high-volume traders. The script also touches on Apex's history of FUD (Fear, Uncertainty, and Doubt), censorship of negative feedback, and the potential impact on their reputation and business.

Takeaways

• 🚨 Traders are taking legal action against Apex Trader, alleging non-payment of approved payouts.
• 🤝 Apex Trader had a history of positive relations with traders, but recent events have soured these relationships.
• 📉 A trader, who was once a fan and advocate of Apex, has turned negative after experiencing payout denials and lack of communication.
• 🗣️ Apex Trader's customer service, including Daryl and Chris, have been unresponsive or provided generic responses to payout issues.
• 📊 There's a pattern of payout denials after the fourth month of uncapped payouts, suggesting a potential issue with Apex's liquidity.
• 📜 The contract between Apex Trader and traders may heavily favor Apex, potentially making it difficult for traders to claim their earnings.
• 🏦 Concerns are raised about Apex Trader's liquidity, drawing parallels to a bank run and the potential for a self-fulfilling prophecy of failure.
• 🛑 Apex Trader's response to criticism has been to deny issues and censor negative press, which may further damage their reputation.
• 🔒 There's a perception that Apex Trader is more likely to pay out smaller or newer traders, while longer-standing traders face payout denials.
• 📉 The reputation of Apex Trader has been on a decline for three months, with no clear efforts to address the underlying issues or restore trust.

Q & A

What is the main issue traders are facing with Apex Trader?

Traders are facing issues with Apex Trader denying payouts, which has led some to consider legal action.

Why have some traders decided to take legal action against Apex Trader?

They have not been able to get payouts approved since July, despite a history of successful payouts over a year.

What was the initial reaction of the community when Apex Trader started delaying payouts?

Initially, there was concern, but since everyone eventually got paid, the community largely dropped their concerns.

What changes in Apex Trader's policies in May and June led to increased concerns among traders?

In May and June, the delays in payouts increased, and a rule known as DCA was reintroduced or actively enforced, causing dissatisfaction among traders.

How did Apex Trader's response to the DCA rule enforcement affect trader sentiment?

Most traders adjusted to the DCA rule, but the enforcement led to further dissatisfaction and an increase in 'fud' (fear, uncertainty, and doubt).

What happened in July that marked a significant change in Apex Trader's operations?

July saw the closure of the Discord server, mass denials of payouts, and an increase in investigations and probations, leading to two months without payouts for many.

What concerns are raised about Apex Trader's liquidity issues?

There are concerns that Apex Trader may have liquidity issues, as they have not been paying out traders as expected, leading to a potential 'bank run' scenario.

How has Apex Trader's response to negative press and trader concerns been characterized?

Apex Trader's response has been characterized by denial, censorship, and a lack of transparency, which has further damaged their reputation.

What is the role of NDAs in the situation with Apex Trader?

Non-disclosure agreements (NDAs) are mentioned as a potential barrier to traders speaking out, but it's also suggested that NDAs may not protect Apex Trader if they engaged in fraudulent activities.

What historical precedent is drawn to understand the potential collapse of Apex Trader?

The script draws a parallel to the collapse of the Forex firm Photot Trader, which also started denying payouts without justification before its downfall.

What actions are traders taking to address the situation with Apex Trader?

Traders are reaching out to each other on platforms like Reddit and Discord, sharing their experiences, and some are pursuing legal action.

Outlines

00:00

🚨 Legal Actions Against Apex Trader

The paragraph discusses the initiation of legal actions by traders against Apex Trader, a funding platform. It details a personal connection who has not received payouts since July, despite a history of consistent approvals. The narrative shifts to a Reddit post from a user who had a positive relationship with Apex but was denied substantial payouts. The user, after being personally assured by Daryl that the payouts would be approved, was left unpaid. This has led to the user actively pursuing legal action and engaging on Reddit and Discord. The paragraph also touches on Trustpilot removing a negative review and the user's changed perception of Apex, moving from a fan to a critic due to unresolved payout issues.

05:01

📉 The Downfall of Apex Trader's Reputation

This paragraph delves into the historical progression of Apex Trader's reputation and its impact on payout approvals. It starts from March, noting initial signs of delayed payouts, and progresses through May and June where the introduction of the DCA rule caused discontent but was eventually accepted by traders. The situation escalated in July with mass denials and investigations, leading to a two-month payout drought. The paragraph questions Apex's liquidity, drawing parallels to a bank run and the importance of reputation in financial services. It critiques Apex's lack of proactive communication and their handling of criticism, suggesting that their silence and denial of issues might be indicative of deeper problems.

10:03

🛑 Apex Trader's Response to Criticism and Payout Denials

The focus of this paragraph is on Apex Trader's approach to addressing negative press and trader concerns. It highlights the company's tendency to deny or ignore legitimate issues rather than providing clear explanations or solutions. The paragraph discusses the company's history of censoring negative comments on social media and their heavy-handed moderation on Discord, where traders were silenced for asking about payout issues. It also points out the company's practice of only approving payouts for those who speak positively about Apex and comply with their rules. The paragraph concludes with examples of traders who have been denied payouts despite meeting the platform's criteria, suggesting a pattern of unfair treatment and a lack of transparency from Apex Trader.

15:05

🚨 The Collapse of Photot Trader and Parallels to Apex

In this paragraph, the speaker draws a comparison between the collapse of Photot Trader, a Forex firm, and the current situation at Apex Trader. They note that Photot Trader began denying payouts without justification, which eventually led to their downfall. The speaker suggests that Apex Trader is following a similar path, with a pattern of payout denials and a lack of transparency. The paragraph also addresses the company's gaslighting tactics, where they dismiss traders' concerns as 'fud' (fear, uncertainty, and doubt) instead of addressing the underlying issues. The speaker calls for Apex Trader to provide clear and honest communication to restore trust and prevent further damage to their reputation.

Keywords

💡Legal action

Legal action refers to the process of taking a dispute or claim to a court of law for resolution. In the context of the video, it is mentioned that traders who have not received their payouts from Apex Trader are considering legal action against the company. This is a significant step taken by individuals when they believe their rights have been violated and they seek justice through the judicial system.

💡Payout approvals

Payout approvals are the process by which a company or platform verifies and authorizes the release of funds to its users or customers. The video discusses how Apex Trader has allegedly been denying these approvals, leading to frustration among traders who have been relying on these payouts for their income.

💡Chargebacks

Chargebacks are a type of financial dispute where a customer's bank reverses a payment made to a merchant due to unauthorized transactions or other issues. The script mentions that one individual has done a lot of chargebacks to Apex, suggesting that there may be a pattern of disputes over payment issues.

💡Trustpilot

Trustpilot is a platform where users can leave reviews of companies and services. The video script mentions Trustpilot in the context of Apex Trader having many five-star reviews, but also the removal of a negative review, which raises questions about the authenticity and transparency of the reviews on the platform.

💡FUD

FUD stands for Fear, Uncertainty, and Doubt, and is often used in the context of spreading negative information about a company or product to manipulate public opinion. The video discusses how Apex Trader's reputation has been damaged by FUD, possibly due to the company's own actions or those of its detractors.

💡Liquidity issues

Liquidity issues refer to a situation where a company does not have enough cash or assets readily available to meet its financial obligations. The video raises concerns about Apex Trader's liquidity, suggesting that the company may not be able to pay out traders due to a lack of available funds.

💡NDA

NDA stands for Non-Disclosure Agreement, a legal contract that outlines confidential material, knowledge, or information. The video mentions an NDA in the context of a trader being told to keep quiet about a payout approval that never came through, highlighting a potential conflict between contractual obligations and the trader's right to discuss their experience.

💡Probation

In the context of the video, probation refers to a status imposed on traders by Apex Trader, which may limit their activities or payouts. The speaker mentions that traders who cause trouble or ask questions about Apex may be placed on probation, suggesting a punitive measure used to control trader behavior.

💡Influencer's Discord

An influencer's Discord refers to a server on the Discord platform run by an influencer or a group with a significant following. The video mentions being banned from such a server for asking about Apex, indicating that discussions about the company's issues are being actively suppressed in certain online communities.

💡Gaslighting

Gaslighting is a form of psychological manipulation where a person seeks to sow seeds of doubt in a targeted individual or group, making them question their own memory, perception, or sanity. The video uses this term to describe how Apex Trader is allegedly handling criticism and concerns, by denying issues and suggesting that those who complain are spreading misinformation.

Highlights

Traders are beginning to take legal action against Apex Trader, signaling a serious escalation in the dispute over denied payouts.

A friend of the speaker has not received any payouts approved since July, despite a history of consistent approvals.

The friend has contacted a lawyer to review the contract with Apex, considering legal steps due to denied payouts.

A Reddit post details a user's sudden denial of tens of thousands of dollars in payouts after a previously positive relationship with Apex.

Daryl from Apex reviewed the case and agreed that the payouts should be approved, but the money never arrived.

The user from the Reddit post is pursuing legal action and is active on Reddit and Discord discussing the issue.

Trustpilot removed a negative review of Apex, raising questions about the authenticity of reviews on the platform.

The user who was once a fan of Apex and praised it on Reddit now has a negative view after experiencing payout denials.

A pattern is detected where Apex is more likely to pay out smaller or new accounts, but not larger or older ones consistently.

Proof of denied payouts is shown, with generic Apex emails stating account investigations as the reason without specifics.

Chris, a top employee at Apex, promised to approve a payout that never came, despite an NDA contract.

The speaker discusses how NDAs may not protect Apex if they engaged in fraudulent activities.

Evidence is presented showing the user's high-profit account levels and screenshots of their profit balance.

The history of Apex's fud, or false information, is reviewed, starting from March and escalating through the year.

The DCA rule was reintroduced by Apex, causing initial adjustments and discontent among traders.

July marked the peak of fud with mass denials, investigations, and probations, leading to two months without payouts for many.

Questions are raised about Apex's liquidity issues and whether they can fulfill their legal obligation to pay traders.

Daryl Martin's sincerity in wanting to pay people is acknowledged, but his silence since June raises concerns.

Apex's approach to bad press is criticized for denial and censorship, rather than addressing legitimate concerns.

The speaker calls for Apex to provide real reasons for payout denials to resolve the ongoing fud and restore trust.

Transcripts

chunky trade here with a report that

Traders are beginning to take legal

action against Apex Trader

funding I actually know somebody in real

life this is not somebody I met through

social media but some but a friend of

mine who has not been able to get any

payouts approved since July and this is

after over one year of payout approvals

every single month and I don't want to

speak too much about their situation but

they've already begun contacting a

lawyer having the lawyer review the

contract and just and considering what

steps that they should take so these

denials that Apex is doing are not going

to come without some type

of some type of Retribution anyway I

don't want to talk about my friend I

want to talk about this post I saw on

Reddit so this individual this is from

two months ago they previously had a

great relationship with Apex they were

getting payouts all of a sudden they got

denied tens of thousands dollars of

payouts Daryl actually was a this

individual got got in contact with Daryl

directly and darl reviewed his case and

said oh yeah these should all be

approved the money never came and he's

left just posting about it on Reddit he

doesn't hear anything back I think this

person did a lot of chargebacks to Apex

and has stated that they are pursuing

legal actions moving forward this person

is very active on Reddit in Discord if

you message him he'll reply to you and

I've actually been able to exchange some

messages with him um funny enough trust

pilot removed his negative review and I

bring that up here because I know we've

all noticed how trust pilot has a lot of

five star reviews for Apex and we're all

kind of curious hm you know how you know

what happens to the negative reviews

well we know that at least this guy's

one review got

deleted as recently as may this person

was a fan of Apex now this this person

participated in the Discord that I'm in

and this is the same user who wrote that

Reddit post and he provided a screenshot

of of of proof that back in May when he

was getting all his payouts he loved

Apex and he said man Apex it's hard for

any new platform to compete with Apex

because Apex has built so much trust

with the community but my oh my how

things have changed uh this person does

not have that tune anymore and is uh is

very negative towards Apex just because

this person's been screwed now it's easy

to be a fan of Apex when you're getting

paid I see a lot of people who get paid

maybe you know one payout a month saying

hey Apex paid me what's the big deal you

must have done something wrong well it

seems to be Apex is more likely to pay

you if you're only requesting one or two

payouts but if you're requesting you

know more than seven accounts or if

you've been consistent for several

months especially if you're on your four

fourth month uncap payout that seems to

be the pattern that we've detected they

stop paying

out now this is proof of their payouts

being denied 57 days 31 days 48 days

denied deny deny

deny uh Apex email generic autogenerated

response nothing specific your payout

was denied for account investigation

okay well okay you want to investigate

the account investigate it and then tell

us what's going on well in this case

they don't respond and actually when he

did get a response from darl Dr said oh

yeah it's going to be approved but never

got the money this is a a screenshot he

sent of Chris Chris is is one of the top

employees at apex not sure if he's part

of the payouts Department he seems to be

he does seem to have some Sway and I've

heard of people contacting Chris before

when their payouts got denied he looked

into it and is able to get them reversed

and actually get them approved so Chris

is is he is somebody there and he said

hey we're going to go ahead and get this

approved but has to stay between you and

us well this guy keeps saying you know

he they approved it but I never got it

and especially mentioning per the NDA

contract you signed as well well you

know heck you know I mean I you know if

I I I'll keep my mouth shut but you got

to pay and another thing ndas don't

protect you don't protect the the person

if they don't protect the company if the

company engaged in some type of scam so

ndas are not totally unbreakable you

have to provide what you say you're

going to

provide um here's some proof from this

person that they actually built up their

accounts to a you know high-profit

level and just more more screenshots of

their profit balance now I think I've

talked talked about this individual

Trader enough but in a nutshell this

person is owed a lot of money they they

Daryl said you were going to get paid

the payment payout never came and they

don't respond to this person but when

you look on it on the surface it this

looks like the trader that they claim to

want but in all these cases of people

being denied payouts it's all it's not

people with like hey I'm on my 11th day

getting a payout my first payout request

yeah they'll give you your first payout

request for sure sure but what about

these people you know we all aspire to

that fourth month UNCA payout just like

Trader Kane did well well you're you're

but all these people with problems

they're all like 30 40 days into their

account you know what's going

on so enough about that Trader who said

he's pursuing legal action I just want

to briefly review the history of Apex

fud starting from March in April is when

we started to know notice that payouts

approvals were being were were okay may

they might have been one or they might

have taken one or two days longer than

normal but the payouts being slower is

what people noticed and a lot of that

was due to an unforced error on apex

Traders fault where they would send out

this autogenerated email saying oh your

payment's been sent you should get it

between five and seven business days

when it didn't come at the end of the

seventh business day people complained

and then the mods princess B if you can

remember would get so upset and say hey

you guys we have until the end of the

cycle to pay you ignore what that email

said well why just send out that email

who are we supposed to trust but anyway

because everyone got paid people really

dropped their concern that is until May

and June came where the next level of

fud was introduced with the DCA rule

being reintroduced or being actively

enforced uh DCA ultimately this was not

a real big deal breaker for Traders most

people just adjusted they were not happy

but they said okay we understand you got

to have some rules so we're going to

abide by them we're going to we're going

to do it and for me I was actually back

in June for DCA and I just adjusted my

trading right even the quote unquote

great trades by Matt claimed he was

denied for DCA okay that's fine but

people made adjustments and moved

forward and um people ultimately and and

also want to mention one thing Daryl

also chimed in and said hey this rues

for you so I was like okay fine July

that's when fud really started to Peak

the Discord was closed right after the

Discord was closed Mass denials and

inves vations and probations began and

this started a a timeline of 2 months

without payouts for many people and then

when August came Mass video

requests and Apex is just let letting

the fud simmer so that begs the question

is there liquidity issues at Apex right

think about a bank run Banks rely on

their reputation just like these prop

firms do and they rely on new people

participating in their

service as soon as their reputation is

broken whether it's true or not there's

a bank run that leads to the

self-fulfilling prophecy of the bank

failing now Apex has always allowed you

know now Apex has allowed their

reputation to be damaged for three

months straight and I specifically use

that term they've allowed their

reputation to be damaged because for the

past three months they've been almost

doing the opposite of what any PR

strategist would tell them to do why

don't you get out there you know don't

call your customers scamers and scammers

you know go out there introduce new

rules that benefit the trader instead of

introducing one rule that hurts a Trader

probation and encount investigation you

know why don't you try and do that but

instead they they just all the all they

do is just say hey you know everything's

fine here and that may be because that

is their only legitimate course of

action you know be it could be and I and

I don't want this to be true but because

you know I have accounts with Apex still

that their only course of action is to

deny everything because there's nothing

else they can do because their

reputation has hit such a bad

hit um but yeah it's sad that they don't

offer real reputations to legitimate

criticism they just deny that anything

is wrong now Apex has a legal obligation

to pay all Traders so their in their pa

contract it it is heavily skewed to them

they say that you don't have a right to

any of the profits made I might and this

is based on a lawyer reviewing the

contract um I may do a video on that

depending on it just let me know if you

want me to make one but you know yes the

contract says that but you know you we

can take you to court and and challenge

that and a lot of people are getting

ready to do that but all in all Apex has

a legal obligation to pay Traders and if

they cannot pay because they have

liquidity issues they have to pay

everybody evenly so if Apex has 20

million in the bank but they owe Traders

40 million instead of paying one Trader

1.9 million and denying everybody else

they should pay everybody 50 cents on

the dollar that's how these bankruptcies

are supposed to happen right and Daryl

Martin even if he you know I think we

all believe that when he started Apex he

was sincere wanted to pay people out he

did it for over a year paid people out

paid several people million dollars I'm

not denying that I'm not denying that he

didn't pay people out I think everybody

knows they were good up until May every

they were good up until June but in

three months they've destroyed what they

spent three years building two years

building and they just let it happen so

fast I mean none of these guys can stay

on I mean I'm just amazed at how fast it

happened even if Daryl Martin is sincere

and wants to pay people if he doesn't

have money how's he going to

pay um and why has he not spoken since

June despite the massive fud when people

were upset about DCA in may he chimed in

he defended DCA and he and because we

had so much trust in him because of his

good reputation at the time we believed

him and said okay your heart is good you

want people to stop blowing accounts and

you notice DCA leads to blown accounts

okay fine but he has not said anything

since June and only the John guy who

calls us schemers and scammers he's the

one that keeps making the videos and he

doesn't seem to relent in calling us

schemers and scammers in fact he's he

keeps promise promising us faster payout

approvals and improvements he has not

delivered on anything which is

concerning how does Apex address bad

press they deny it right all the Apex

employees and official Discord says

there no issue nothing to nothing to see

here but how could they know because if

I were to go ask one of these Apex

employees to help me look at my payout

request they say hey that's the payout

Department I'm only in support I can't

help you so if you can't help me with my

payout request why why are you chiming

in and saying Apex is okay cuz obviously

you you don't have any insight to

anything besides your world right so you

actually don't know whether it's good or

bad and you know cuz it's so funny

because you ask them for help they say

oh that's compliance I can't help you oh

that's payout I can't help you okay all

you can help me do is uh you know

activate an eval or something you know

like what's going on um oh how El does

Apex address bad press they censor it

right you can't post anything negative

or even neutral on The Unofficial or

official Facebook groups if somehow it

slips by they'll just delete it right

their Discord was heavily moderated they

deleted and timed out people for just

asking like hey question about my payout

now I know some people were annoying on

Discord and that's fine if you want to

time those people out but you know when

it comes to money like this is a service

we pay for you know I think we

definitely I think better service should

be

expected um and the other thing is it

became pretty clear quickly that in

order to be to get a payout you had to

like speak very positively about aex be

very obedient can't cause trouble and

then maybe you'll get your payout like a

good good boy you are um but if and if

you join an influencer's Discord they'll

ban you for asking about Apex like I was

banned from trades by Matt Matt's AP

Discord because I asked like Hey how do

you get off of apex's Probation and I

got I got um banned immediately you know

and that that was a sincere question

it's not like I'm saying anything but

I'm like hey I'm just I got this problem

can anybody help me uh you go to their

Twitter page they don't allow you to

comment and even with a

non-disparagement clause you're still

allowed to speak the truth if your

experience is negative right like they

can't you know I mean you're not allowed

to like you know you you can't lie you

can't lie and said that they scammed you

if they didn't scam you but if they if

they didn't pay out that's not

disparaging them if they actually didn't

pay you out so here's an example of

another Trader this is again this is

another Trader this is not the same

Trader as I mentioned in the beginning

of the video these examples are all over

all over social media and and the the

the gaslighting is so real they keep

saying oh any body who didn't get paid

out they must have done something wrong

hey look at this person you know the

balances are double the threshold I

didn't DCA once but I've been denied

without any any answer and my wife's

account's been denied 11 times look at

this why why are you denying this person

wow this looks like somebody you'd won

right don't you want to copy their

trades they're and they're probably at

uncapped payouts but they're only

requesting like 2,000 1,000 3,000 750

why can't you just pay them out this is

uh very very sketchy

because especially because we all that

that's the promise a that that's why

people spend so much money on apex

because we've been promised these

uncapped payouts once we get to month

four and then it sucks that all these

people made it to month four a lot I

mean these people that I've spoken with

a lot of them are on month four and and

they're having issues now it's it's

really a shame it it it it's a rug pool

uh this is another example of a Trader

getting paid they they've requested a

six figure payout and they've been

denied four times in a row no response

it's very sad it's very sad um because

we all wanted Apex to work out but it

seems to be they're not I mean I I don't

I mean what are they what are the real

steps they're take doing to repair their

image and to actually pay people out all

we hear is hey don't spread fud well

these are this is not spreading fud this

is a leg legitimate concern so I just

want to bring up this this is um you

know the full tweet is going to be in

the description but this is somebody who

talked about the uh this is somebody who

called the funded Trader rug pool before

it happened he called the collapse of

the funded Trader and now as you know

photot Trader was a Forex firm that that

got um that closed a few months ago but

there were warning signs one of the

warning signs were they started denying

payouts without justification because in

their mind if they if they deny your

payout they don't owe you that money

right because then then that won't be on

their balance sheet so they they started

doing that a lot and you know once once

that reputation is damaged who's going

to keep buying evals from you who's

going to keep buying challenges from you

then you're you're you're finished for

sure because now you're not going to

have money to pay out the people you do

owe and so they just had to

collapse um meanwhile the gaslighting

continues um unfortunately Chris he

seemed like a good guy at the beginning

he but now he keeps I mean he will you

know Silence You time you out in the

Discord if you bring up legitimate

concerns about Apex he said oh don't

spread fud don't give into the fud you

know Lord black right here he he he's

saying oh all this fud is another prop

from trying to stir up some fud okay

like why don't you guys give real

reputations as to what's going on you

know hey just say hey this person the

reason why they got denied is because

they're part of a trading ring okay that

would help resolve some fud but instead

you just say they probably broke a rule

well you don't know that they broke a

rule you know so um the gaslighting is

is is too much um I don't think it's

fair at all now if you um thank you for

watching if you've got any stories

please feel free to reach out to me and

send me some stories that you want me to

discuss thank you