E8 Funding is a prop trading firm that provides cutting-edge funding options to international Forex and CFD traders everywhere. To enable traders to become professionally funded traders and manage their capital remotely from any location in the world, the company seeks to provide one-of-a-kind funding options.
E8 Funding has created an intuitive and user-friendly interface that provides all the information a trader could possibly require using the most cutting-edge technologies. Because customers of the platform may access tier-1 liquidity as a result, E8 Funding is becoming one of the more popular proprietary trading companies in the world.
E8 also aims to give its traders the finest funding experience possible through innovative ideas. We will cover every facet of the platform in this E8 Funding review 2023 to help you determine if it’s a good fit for you.
What is E8 Funding?
E8 Funding is a proprietary trading company that finds untapped potential in the community and provides creative funding options to Forex and CFD traders around the world. The company was established on November 5th, 2021, and has locations in Texas and Dallas at the moment.
To enable any businessperson to become a professional trader, the company looked for novel funding solutions. The professional path with E8 Funding is encouraged for traders to continue.
The organisation demands a high level of discipline from its customers in order to appropriately manage risks and ensure predictable results. They can generate significant earnings from accounts up to $1,000,000. Trading in forex pairs, commodities indexes, equities, and cryptocurrencies allows traders to earn up to 80% profit.
E8 Funding Key Features
E8 Funding, which offers funding to international traders, has already made some significant innovations in the time that they have been around. These are the company’s key characteristics:
Automated Payment Methods
A highly competent support staff enables the trader evaluation to be finished in less than two hours. The business also developed a new trading dashboard where users of the trading platform can ask for rewards. However, after eight trading days, the trader will become qualified for the first reward.
The business wants to provide traders with the easiest funding experience imaginable. In order to provide institutional liquidity and top-notch technological solutions, the firm has teamed with leading businesses.
E8 X Advanced Dashboard
Through the X dashboard, the prop finance company offers a straightforward, user-friendly experience. It aids international traders in analysing the most crucial trading insights.
Scaling Accounts Quickly
All traders were taken aback by the brand-new account scaling option for regularly funded accounts in E8. For traders, the initial total drawdown is 8%. With each withdrawal (8 days for the initial withdrawal, every two weeks after), traders gain an additional 1% in daily drawdown until the account decline reaches 14%. The $250,000k account will therefore get an additional $2,500 in drawdown for each of the first six withdrawals.
The E8 Two-Step Funding Procedure
Phase 1 and Phase 2 of an evaluation process are required for you to get funded as a trader. Let’s quickly review the funding procedure.
Phase-1 refers to the first stage of trader evaluation. Prior to allowing a trader to trade an account connected to the firm’s funds, the method was designed to determine whether they can trade prudently and manage risk efficiently.
Fair regulations apply to Phase 1, with the profit goal matching the allowed drawdown. Trading goals are the name for these regulations. Traders have 30 days to complete this stage.
As soon as all of the Phase-1 goals have been accomplished, Phase-2 can start. If you follow the risk management recommendations, finish with a profit, but fall short of the profit targets, you can try for a free test.
Phase 1 goals include
- (Daily floating loss plus closed loss) maximum of 5%
- 8% Initial Deposit Drawdown Maximum
- 8% Profit Target
- Countdown in calendar days: 1
- 30 maximum days in a calendar
The final phase of the trader’s review is Phase 2. The phase’s goal is to once again put the trader’s trading skills to the test.
In Phase 2, the platform guarantees that you can engage in long-term financial trading while adhering to the rules and protecting your wealth.
In Phase 2, the profit target is cut in half, and you have a full 60 days to achieve the trading objectives.
After meeting all the conditions, you will be referred to as an E8 Funded Trader. If you follow the risk management recommendations, finish with a profit, but fall short of the profit targets, you can try for a free test.
Phase 2 goals include
- Countdown in calendar days: 1
- Calendar Days: 60
- Daily floating loss plus closed loss maximum of 5%
- 5% Profit Objective
- 8% Maximum Drawdown on Initial Deposit
The company offers traders some of the best trading conditions when they switch to the Funded Trader with E8.
Funded Accounts are connected to the live trading account for real money of the proprietary trading firm. Because a Profit Target is not required, you have the freedom to trade whenever it is convenient for you.
The only things the company will ask of you are to abide by the Maximum Daily Loss and Maximum Loss rules and exercise prudence around important news occurrences.
Trader’s Funded Goals:
- Daily floating loss plus closed loss maximum of 5%
- 8% maximum of the initial deposit drawdown is scalable to 14% at the funded stage
- Refundable fee
- No profit objective
- Take 80% of your gains out every 14 days
- First withdrawal is permitted at any time following 8 calendar days
Traders that sign up for a free trial assessment are eligible for the wonderful E8 tools. View the dashboard, practise plan execution, and all the capabilities of the application. For traders who are new to MT4 and coming from different instrument areas, the tool is quite beneficial.
E8 Funding Accounts
The company provides E8 and ELEV8 Accounts, two different types of accounts. While E8 offers account sizes: of 25k, 50k, 100k and 250k, ELEV8’s funded account comes with a 100k virtual balance that can be expanded after it meets the funded level.
Let’s examine each account type in more detail:
Traders have immediate access to the company’s liquidity through the E8 Account with the account size of their choice. If you succeed in the two-phase review, the business will assume all of the risk while you receive funding and get to keep 80% of the profits.
A revolutionary method for identifying traders who consistently perform well is called ELEV8. Win the two-phase evaluation process to qualify for an ELEV8-funded account. If you meet the monthly profit target, the company will let you keep up to 90% of the entire profit while increasing the size of your account by $100,000 every 30 days.
How to Get an E8 Funded Account?
The procedure is fairly simple. Here is a straightforward step-by-step procedure to begin the E8 Funding:
- Select your account and then apply for it.
- Get your trade certifications after that.
- Log in to MT4 and E8X.
- Pass the two-phase test.
- Obtain a contract and begin to trade.
E8 Trading Instruments
E8 Funding provides a variety of trading assets to the financial industry. The platform’s financial instruments are listed below:
- Forex: No issue; there are numerous exotic crosses as well as the major crosses.
- Stocks: The majority of large-cap and the most well-liked stocks have been made available for trading, albeit not all equities are.
- Indices: In their top-tier liquidity pool, you can trade all significant US indexes as well as several European markets.
- Commodities: You can trade commodities on the platform, including gold, crude oil, and others.
- Cryptocurrency: Funded traders and E8 evaluation can access a wide variety of crypto coins available for trading.
What makes E8 Funding different?
E8 Funding differs from the rest of industry-leading prop companies because it offers two distinct funding programmes: E8 evaluation and ELEV8 accounts.
Your trading approach is likewise unrestricted; you are free to trade during newsworthy events in the stock market, hold positions overnight, and permit weekend trading.
Traders must successfully complete both phases of the assessment procedure for E8 Funding and ELEV8 accounts in order to be qualified for rewards. The maximum daily losses are 5%, and the maximum annual gains are 8%. The profit aim is 8% in phase 1 and 5% in phase 2.
There is no required minimum number of trading days in either stage prior to Funding. The E8 program’s accounts have a scaling plan as well. They do not have a minimum number of trading days requirement, and compared to some other well-known prop firms, they expect low profits.
Conclusion: is E8 Funding a good forex prop firm?
E8′ stands out as one of the most reputable and trustworthy Prop firm when compared to other ones that are available. Additionally, the platform provides great customer assistance. As a licenced proprietary trading company, E8 Funding offers traders two different funding options: E8 evaluation and ELEV8 programme accounts. Their trading-friendly evaluation phases and account kinds have raised the bar for their acceptability making them an option to consider for anyone who is looking to trade using a funded account with a prop trading firm.
- Free trial available to give it a try
- $1M maximum balance allocation
- Profit share up to 80%
- Bi-weekly payouts
- No minimum trading days on regular account type
- Expert advisors allowed
- News trading allowed
- Scaling account option
- Overnight and weekend holding accepted
- Professional trading dashboard
- Not the lowest prop trading fees
- Support is not available 24/7
- Very low maximum daily floating loss
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