E8 Funding Review

E8 Funding

E8 Funding

www.e8funding.com

  • Leverage: 1:100

  • Regulation: UK

  • Min. Deposit: $228

  • HQ: London, UK

  • Platforms: MT4, MT5

  • Found in: 2021

E8 Funding Licenses:

  •  E8 Funding LLC — registered in UK registration no. 13392694
  1. What is E8 Funding?
  2. E8 Funding Pros Cons
  3. Is E8 Funding Legit?
  4. E8 Funding Challenge
  5. Funded Account
  6. Account Conditions
  7. Payout
  8. E8 Funding Alternative

Our Review Method

  • 55Brokers Financial Experts with over 15 years of experience in Trading check and verify carefully Proprietary Trading Firm offerings and what the challenge you have to pass to become Funded Trader to give an expert opinion on E8 Funding and its reliability

What is E8 Funding?

E8 Funding, established on November 5, 2021, is a Proprietary Trading Firm based in the United States, known for being one of the early U.S.-based prop firms to offer global funding. With offices in Dallas, Texas, USA, and Prague, Czech Republic, they provide traders with capital of up to $300,000. Traders can enjoy an 80% profit split, with opportunities to scale their accounts based on the profits made. E8 Funding has partnered with Purple Trading Seychelles as their broker.

E8 Funding, as a Proprietary Trading Firm, provides the distinctive chance to participate in real trading with minimal personal funds required. The pathway to becoming a Funded Trader, which entails trading with the company’s funds, involves passing a Test or Challenge to obtain a Funded Account. This allows traders to operate with a Company Account as Professional Traders. However, it’s important to be aware of certain inherent risks associated with this model.

E8 Funding AdvantagesE8 Funding Disadvantages
Lower Profit TargetNo Strict Overseeing
Affordable E8 Track programIt is hard to become Funded Trader
Bi-weekly payoutsLimited Instrument Range
Profit Share from ChallengeOnly MetaTrader Platform
MT5 and MT4 with EAs
Refundable Fee once you become Funded Trader
No minimum trading day requirements
Scaling account option
E8 Funding website

Is E8 Scam or Legit?

E8 is E8 is legit and registered in Texas USA. Upon reviewing the official website and company information of E8 Funding, we found no apparent evidence to suggest that it is a scam. However, it’s important to note that Proprietary Trading Firms generally operate with minimal regulation from financial authorities. This lack of oversight makes it challenging to definitively categorize such firms as either completely legitimate or as scams. Therefore, a cautious approach is advised when assessing the true nature of E8 Funding.

  • From a professional perspective, it is advisable to thoroughly understand Proprietary Trading and its associated risks before proceeding. Choosing a reputable company with a long-standing operation history is recommended for a more stable experience. Although you’re not heavily investing your own money in trading, but rather paying subscription fees, the potential losses in this scenario are generally lower compared to direct trading with your own funds. This factor makes Prop Trading a relatively lower-risk option, but still one that requires careful consideration and understanding of the trading environment.

E8 Funding registration

E8 Funding Challenge Evaluation Rules

A crucial aspect of our E8 Funding Review is understanding the structure and prerequisites of their evaluation challenge. This involves exploring the specific tests or conditions traders must pass to qualify for a Funded Trading Account and become a Proprietary Trader. Additionally, it’s important to consider the costs involved for traders to participate, which typically includes a Registration Fee. Understanding these elements is key to comprehending the process and requirements for becoming a trader with E8 Funding.

  • E8 Funding operates by offering traders an opportunity to secure funding through a straightforward process. This process is divided into two main parts: the evaluation stage and the funding stage. In these stages, traders who meet the necessary criteria and successfully pass the evaluation are selected to receive funding.
  • E8 Funding’s Evaluation Stage process comprises two phases. In Phase 1, the Kickoff Evaluation, traders are required to demonstrate prudent trading and risk management skills, aiming to meet a set profit target within 30 days while adhering to drawdown limits. If traders make a profit without hitting the target, they get a free second chance. In Phase 2, the Deep Dive Evaluation, traders who passed Phase 1 face further assessment with a reduced 5% profit target over 60 days. Here too, traders making a profit without reaching the target are offered another opportunity at no extra cost.

 

 

Account Balance and Registration Fee

Before logging into E8 Funding, you’ll need to select the Account Type and Balance you aim to qualify for. The challenge conditions vary slightly based on the chosen account size, affecting the registration fee required to participate in the challenge. Notably, E8 Funding offers a refund of this fee once you achieve the status of a Funded Trader. For a detailed understanding of how these fees differ, refer to our Registration Fee comparison table provided below.

  • E8 Funding offers two different account types: the E8 Account and the E8 Track Account. The two account types provide four funding options each. All of these funded accounts are in fact demo accounts, which are linked to E8 Funding’s proprietary trading accounts. This approach is a common practice in the industry, where prop firms utilize specialized software and algorithms to ensure accurate and efficient order flow.
  • E8 provides quite a range of starting balance options which include $25,000, $50,000, $100,000, or $250,000.
  • E8 Funding offers free repeats of their challenges under certain conditions. If you complete a challenge with a profit but don’t meet the target profit and haven’t violated any drawdown rules, you can restart from Phase 1 for free. Alternatively, if you finish a phase with a profit of over 4% without breaking any rules, you’re granted a 14-day extension to reach the target profit.
FeesE8 FundingFTMOThe Funded Trader
Minimum Account Size$25,000$10,000$50,000
Fee $228€155$289
Maximum Account Size$250,000$200,000$400,000
Fee$988€1 080$1,869
Reset or Test RetakeYesYesYes
Is Fee Refundable?YesYesYes

Profit Target

Like many Forex proprietary trading firms, the initial phase at E8 Funding presents a significant challenge. Traders are given 30 days to achieve an 8% profit target. Following this, they have a 60-day period to earn a 5% profit.

Maximum Loss

In the first phase of the evaluation, traders aim for an 8% profit without exceeding a 5% daily or 8% total loss, with no set trading day limits. Upon achieving this, phase two requires reaching a 5% profit, adhering to the same loss constraints. Completing both phases earns a funded account with no profit targets but a 5% daily and 8% maximum loss rule.

Minimum Trading Period

The minimum trading days requirement dictates the least number of days that traders must trade before they can complete an evaluation phase or request a withdrawal. For both phases of the evaluation, a minimum of 5 trading days is required. However, for those trading with a funded account, there are no minimum trading day requirements.

See detailed table with E8 Funding Challenge conditions based on Account Size:

E8 Account

E8 evaluation

Free Trial

E8 Funding stands out as one of the select few proprietary trading firms offering a free trial option. This allows their community to familiarize themselves with the trading conditions and prepare effectively. By doing so, it significantly lowers the likelihood of errors when traders eventually opt to enroll in either of the two available evaluation programs.

E8 Funding Funded Account

Upon successfully passing the test or challenge, traders will have their Funded Account established, which typically becomes active within a few business days. It’s important to note that the conditions and balance of this account will mirror those of the account qualified for in the test. If traders wish to upgrade to a higher-grade account, they will need to start the testing process anew for the desired Account Balance level.

Profit Split

Payouts start 8 days after the first trade and continue bi-weekly, offering an 80% profit split. Each successful withdrawal increases the loss limit by 1%, up to 14%.

 

Payout and Withdrawals

Based on our research, challenges can be paid in numerous convenient ways while the payments will attract no additional processing fees. The first payout is eligible after 8 days.

Withdrawal Method

E8 Funding provides a range of convenient and secure options for deposits and withdrawals. Clients have the flexibility to fund their accounts using Bank Transfers, PayPal, Revolut, Wisepay, Payoneer, or cryptocurrencies through Coinbase. The processing of deposits is typically swift, enabling traders to commence their trading activities without significant delays.

E8 payout

Account Conditions

When reviewing Account Conditions, it’s essential to scrutinize the Firm’s range of account options, available Trading Platforms, Instruments, and Costs. It’s also important to check the Leverage levels and Trading conditions, as restrictions on certain strategies or practices in Funded accounts could lead to account loss, requiring retesting for access. A detailed overview of these factors is outlined below.

Trading Instruments

E8 Funding offers a wide array of trading instruments in various financial markets. Traders can delve into forex with access to major, cross, and exotic currency pairs. The platform also provides opportunities to trade in commodities like gold, silver, oil, and agricultural products. Additionally, E8 Funding includes indices, allowing speculation on global stock market indices, and equities, with a selection of international stocks. The platform also caters to the evolving digital asset market by including cryptocurrencies in its trading instruments.

E8 Funding Spreads

E8 Funding structures its trading fees around a combination of commissions and raw spreads, with the spreads beginning as low as 0.3 pips. However, there’s a lack of transparency regarding their commission rates, a point of concern for some traders who feel these charges might be higher than expected.

Leverage

E8 Funding offers leverage of up to 1:100 depending on the trading instrument. This level of leverage is available during both stages of the Challenge and continues to be accessible once you become a Funded trader.

E8 Funding App Platform

E8 Funding provides traders with the choice of using theMT5 and MT4 trading platforms, accommodating algorithmic trading as well. Additionally, the firm has developed a bespoke mobile application that includes access to the E8X Dashboard. This dashboard not only outlines trading goals but also offers comprehensive portfolio analytics, enhancing the trading experience with useful tools and insights.

Trading Conditions

Our research into E8 Funding reveals that the firm caters to a variety of trading styles through its diverse account offerings. They provide two main types of accounts, each designed to suit different trading needs and strategies.

  • E8 allows a variety of trading strategies including News Trading, Swing Trading, EA (Expert Advisor) Trading, and holding positions over the weekend. However, it’s important to be aware of certain restrictions. Practices like High-Frequency Trading, Latency Trading, and Arbitrage are not permitted under E8 trading conditions. These limitations are crucial for traders to consider when planning their trading approach.

 

E8 Funding Promotions

E8 Funding currently provides a discount coupon for their existing customers. E8 Funding discount code “FOREXPROPREVIEWS” allows current customers to enjoy a 10% OFF discount.

E8 Funding Alternative Brokers

E8 Funding stands out as a promising platform for Forex traders who are looking for opportunities to grow, profit, and trade within a supportive and accessible environment. Its strong commitment to trader education, cutting-edge technology, and a profit-sharing model positions it as an attractive choice for traders, regardless of their experience level. The variety of account types and tailored challenge rules further enhance its appeal by offering flexibility and meeting the diverse needs and preferences of traders.

When considering E8 Funding’s, it’s beneficial to compare it with other Proprietary Trading Firms, as some may offer better-suited conditions for specific trading needs, like a wider range of instruments or different platforms than MetaTrader. Despite this, E8 has its distinct advantages. For a more informed decision, check out our comparison table and list of alternative firms, highlighting how E8 compares with others in the sector.

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