👀 Apex breaks payout record again! Pays Trader $2.55million

Hi guys, it’s Kieran! Another wild week is in the books and it’s time to do it all over again.

📢 Prop Firm Industry News

For the second week running, ApexTraderFunding has paid out an all-time industry record. This time $2.55million to Jadecap, beating last week’s record payout of $2.46 million. Crazy!

He’s going to be on popular trading podcast ‘Words of Rizdom’ this week if you want to hear from Jadecap himself.

Michael Patak, Topstep CEO is trying to bring together owners/execs from the major firms to kickstart the process of self-regulation. This has generated quite a split of opinions, some saying it will invite collusion and stifle competition, others welcome the initiative as necessary before the government steps in and regulates it themselves. I’ll be keeping my eye on this.

As many of your know, I am involved with Payout Junction and we are super happy to have taken on an exclusive sponsorship from PipFarm! We feel like they are the most trusted and transparent firm in the industry, so it was a perfect fit!

If you have not tried PipFarm yet, they are a fantastic firm and US traders are able to trade with them. They are currently offering 50% off if you fill in their Q2 trader survey, which you can do here.

You can see all of their programs on their website here.

From Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

🔥 Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Red Folder News

Here are this week’s red folder news events. It’s the Canadian election today which is marked as an All-Day event on ForexFactory, so if you are trading prop firm accounts make sure to check their all-day news rules for restrictions.

Elsewhere Wednesday’s US PCE Index (the Fed’s preferred gauge on inflation) and Thursday and Friday’s jobs numbers have the potential for market moving surprises.

📈 The Macro View

S&P500 at a very key level

A huge surge in Risk-on markets last week. The S&P500 is pressing up against the downward trendline since the Feb sell-off. Where we go from here needs to be watched closely. Lot’s of market moving information dropping this week.

Sentiment improving but still fearful

Overall market sentiment is finally out of ‘Extreme Fear’ territory. Not surprising after a 15% rally off the lows. That said, the contrarian long trade is still in-play here if you dare to take it after such a rally.

Nasdaq v Bitcoin

The Risk-on race back to all time highs. BTC leading the way.

Crypto inflows are back

The risk-on sentiment is very much back in crypto land. Biggest inflows of the year last week into crypto funds. Bitcoin is now 20% off it’s Feb lows, with all time highs +15% away. Another couple of weeks of inflows like this and we’ll likely be there.

OK guys that’s it for this week. Stay safe out there and i’ll see you next week!

Kieran