E8 Funding Trading Forex Broker Review

Prop trading companies are quickly gaining popularity among Forex traders in 2023. These platforms offer investors a huge chance to trade with larger capital and make substantial profits. Additionally, these businesses seem too good to be true, but a lot of inexperienced traders are plagued by persistent doubt. Is a proprietary firm legitimate? But as explained in the E8 Funding trading forex broker review, this company is regarded as one of the industry’s most reputable and prominent prop firms.

Is E8 Funding Legit? Is it regulated?

This company which was established in 2021, is regarded as one of the industry’s most reputable and successful prop firms, working with thousands of traders worldwide. It currently operates with traders in the majority of nations and is registered in both the USA and the Czech Republic.

This company which is a new player in the community of prop firms, is renowned for offering one of the best-funded trading accounts. In addition, this firm is ranked 25th out of 756 active rivals.

However, this firm like the majority of prop firms is unregulated. Keep in mind that prop companies are not brokers and are not bound by the same laws.

Is E8 Funding legit in my country?

This prop trading company has no country restrictions because it is accepted worldwide, with the following exceptions:

Afghanistan, Crimea, Central African Republic, Cuba, Congo Republic, Burundi, Eritrea, Guinea-Bissau, Iran, Democratic Republic of Congo, Iraq, Liberia, Syria, Guinea, Libya, North Korea, Papua New Guinea, South Sudan, Sudan, Somalia, Myanmar, Yemen, Venezuela, Vanuatu, Zimbabwe.

As you may know, with the Deel hiring product, traders can only open an E8-funded account once they successfully complete the KYC process. Deel isn’t available in the aforementioned countries, which is the reason for the restrictions.

Is E8 Funding a scam or safe?

This company can be regarded as a secure business. When it comes to security, it takes certain precautions to keep its users safe, as mentioned in the E8 Funding trading forex broker review.

• First, users can increase security by configuring Two-Factor Authentication in their trading account that has been funded.
• The capital for funded traders is provided by this prop trading firm, so for them to get paid, they must successfully complete a rigorous Know Your Client (KYC) check.
• For whatever reason, a trader will not be permitted to withdraw funds from their funded trading account if they do not comply with the KYC requirements and do not receive approval from Deel’s biometric verification.

Pros and Cons

What Can You Trade With E8 Funding?

This prop company provides money to traders so they can trade currencies and other CFDs. A list of each one is provided here:

Forex: If you’re a trader, you have access to all major, minor, and even exotic pairs.

Indices: All of the major indices, such as the Dax, Nasdaq, Dow Jones, S&P 500, and others, are traded as CFDs.

Metals: Gold and silver.

Commodities: Crude oil.

Crypto: DASH, BTC, ETH, LTC, and XRP.

Stocks: TSLA, AAPL, NFLX, and FB (which should be META currently).

What Are The E8 Funding Account Sizes?

Trades with account balances ranging from $25,000 to $300,000 are funded by this company. Your account may increase by up to $1 million with the scaling plan.

You can apply for three different kinds of accounts:

• E8 Account
• E8 Track
• ELEV8 Account

Depending on the account selected, there may be two or three phases to the “funding process,” which is the obstacle you must overcome to gain access to a funded account. Depending on the size of the account you are applying to, the challenge has a different cost.

According to the E8 Funding trading forex broker review, the cost of the larger funded account is $988, while the smaller funded account starts at $228. If you need to open an account, you can sign up here.

What Is The E8 Funding Leverage?

Depending on the symbol you are trading, the prop firm offers varying amounts of leverage. The list of leverage by trading asset is as follows:

• Forex Exotic pairs: up to 1:50
• Forex Major pairs: up to 1:100
• Indices: up to 1:50
• Commodities: up to 1:50
• Crypto: up to 1:5

How Much Is The Payout?

This company splits the trader’s profits with them at an 80% ratio. After you get funded, the prop firm keeps 20% of all profits, leaving you with 80% of the total. You don’t need to make a minimum profit to get your 80% share, unlike some other businesses.

The profit split on trades made with the ELEV8 Account can reach 90%.

Challenge – E8 Account

One of the challenges you can select to apply for a funded account is the E8 Account. There are two distinct stages to this task. You must reach a minimum profit target for each phase within the trading window while staying under the drawdown limits.

Phase 1

You must demonstrate during this phase that you can trade sensibly and effectively manage risk.

• The first balance drawdown can be as much as 8%.
• Daily depletion: No more than 5%.
• 8% is the target profit.
• Trading period: You have thirty calendar days to reach the profit target.
• Minimum trading days: To complete this goal, you only need to trade on one day.

Phase 2

Phase 2 involves a reduction in the profit target and an extension of the trading period to reach the target. Maximum daily withdrawal of 5%.

• Maximum initial balance drawdown of 8%.
• Profit objective: 5%.
• Trading period: You have sixty calendar days to reach the profit goal.
• Minimum trading days: To complete this goal, you only need to trade on one day.

Challenge – E8 Track

This is the second challenge with three phases that you can select to be funded.

Why 3 phases? In the E8 Funding trading forex broker review, it’s been explained this is a less expensive product aimed at traders who are prepared to manage capital and don’t mind going through an additional evaluation stage.

Phase 1

You must demonstrate during this phase that you can trade sensibly and effectively manage risk.

• Maximum daily withdrawal of 5%.
• Maximum initial balance drawdown of 8%.
• Goal for profit: 8%.
• Trading period: You have 30 calendar days to reach the profit goal.
• Minimum trading days: To complete this goal, you only need to trade on one day.

Phases 2 and 3

The profit target drops and the trading period lengthens to reach the target in phases two and three (both of which have the same requirements and rules).

• Maximum daily drawdown of 5%
• Maximum initial balance deduction of 8%
• Profit objective: 5%
• Trading period: You have sixty calendar days to reach the profit goal.
• Minimum trading days: To complete this goal, you only need to trade on one day.

Challenge – ELEV8

The ELEV8 challenge consists of two phases. The profit share and scalability are the primary distinctions between the accounts. The profit share can rise to 90% and the ELEV8 account can be scaled up to $1,000,000.

E8 Funding EAs (Expert Advisors)

With this firm, you can trade using any EA or indicator. The only prohibitions are those against abusing the market feed and/or high-frequency EAs.

You’re set to go as long as the orders placed by the EA can be duplicated on an actual account.

Free Repeat

Under certain restrictions, this company allows you to repeat the challenges for free, as stated in the E8 Funding trading forex broker review.

Scenario 1: If you followed all drawdown rules and made a profit even though you didn’t meet your target profit, you can retake the challenge. In this scenario, you will resume Phase 1.

Scenario 2: You receive a 14-day extension to continue attempting to reach the target profit if you complete the phase with a profit of more than 4% and without breaking any rules.

Free Trial

While E8 Trading does not currently offer free trials, you can still receive a free repeat, which is a nice perk.

E8 Funding Platforms

With this firm, you can use the most widely used trading platform utilized by Forex brokers: TradeStation 4, and TradeStation 5. This covers the iOS or Android mobile versions of the platform.

Trading Hours

As in the E8 Funding trading forex broker review, it is not necessary for you to close your trades at a specific time. Both the weekend and the overnight rollover allow you to keep your trades open. All you need to know are the potential gaps that could arise and lead to a rule violation.

Weekend trading is permitted in cryptocurrency since the markets are open around-the-clock. Depending on your own trading style, you can hold onto your trades for as long as necessary.

News Trading

News releases can be exchanged without any problems. Please note that you must take precautions to manage your risks and be aware of them.

Conclusion

E8 Funding has an outstanding rating on Trustpilot. With 4.7 out of 5.0. Although their headquarters are known to be in Dallas, this prop trading company also maintains offices in Texas and Prague. This company was founded to identify untapped talent within the community and offer them strategic alliances and premium software solutions. As claimed in the E8 Funding trading forex broker review, the best thing about this firm is that it has partnerships with first-level providers rather than working with brokers.