Apex Trader Funding 100K (Rithmic, 4.0) vs Bulenox Master 100K
Same trading style, both firms, side by side — ranked by what actually matters: net expected value after fees and payout splits, not raw pass rate.
Side by side
| Apex Trader Funding 100K (Rithmic, 4.0) | Bulenox Master 100K | |
| Account size | $100,000 | $100,000 |
| Profit target | $6,000 | $6,000 |
| Max drawdown | $3,000 | $3,000 |
| Drawdown type | Trailing → lock | Trailing → lock |
| Payout split | 90% | 90% |
| Total upfront | $207 | $145 |
| Pass rate (52% WR, 1.5:1) | 98% | 99% |
| Net EV (per attempt) | $7,703 | $7,755 |
Assumes a standard 52% win rate at 1.5:1 reward-to-risk, $200 risk per trade, and an $8,000 average funded-phase profit. On that profile, Bulenox Master 100K has the higher net expected value.
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Analytics, not financial advice. Net-EV figures are simulated for a stated standard
profile and will differ from your results. Confirm current rules with each firm before paying.