Introduction

E8 Funding is a prop trading firm registered in both the Czech Republic and America. It works with agents or traders all over the world without any location restrictions and offers balanced between twenty five thousand dollars and two fifty thousand dollars – they can, however, go up to about a million dollars for the right people. 

E8 doesn’t charge a monthly fee to work with them, instead only opting for an initial amount starting from $138, which goes up depending on what type of account you’re using. People working with E8 can trade in stocks, currency pairs, indices, metals, energies, and crypto. 

If you’re working with E8, you’re allowed to use bots, advisors, trade on the weekends, and copy other traders over the course of your collaboration. You are, however, required to trade over either MetaTrader5 or MetaTrader4. Any profits you make are split 80-20 with E8, and are the same across all account types and phases. 

However, this flexibility and all these amicable terms don’t come easy – E8 requires all traders working with it to pass a series of challenges, where you’re not allowed to lose more than eight percent of the total amount or five percent per day. 

What is E8 Funding?

There are a lot of prop firms in the world that aim to support talented traders in their endeavors, but E8 was established especially to help CFD and Forex traders all over the world. The company is based in the US, but deals with traders without any location restrictions. Their attitude and policies towards trading are driven by their commitment to fund people of particular trading talent and provide them with the tools and monetary support they need to truly thrive. 

When traders first try to work with them, they’re required to pass a detailed evaluation where they prove their mettle in the world of trading. Once they pass, traders can use E8 funding to make some serious bank – you use your skills with none of the risk, which is all borne by E8. In return, you give them twenty percent of whatever you make. In fact, you can even get your initial evaluation fees back after you start earning a profit. 

One of the things about E8 that sets them apart from the rest is their scaling and increased drawdown model. This means that when you withdraw profits, your drawdown limits and account balance will increase. What drawdown means is that for every loss, you get less capital from E8. Having lenient drawdown limits means you have more flexibility and risk tolerance. You can earn up to fourteen percent of additional risk, and a one percent increase in drawdown risk for every withdrawal. 

E8 facilitates traders through a lot of high tech solutions, including a native dashboard that keeps them updated about news in the trading world. This also facilitates them in quickly setting them up, updating them regularly, and giving them resources to track their progress and access information quickly. 

They also prioritize transparency and straightforwardness, making sure traders get information that is accurate. 

How Does E8 Funding Prop Trading Firm Work?

E8 gives CFD and Forex traders great opportunities to excel through a very transparent process to access funds and E8 support. The process is split into two stages: evaluation and funding. Let’s talk about them:

Evaluation

The evaluation stage has two phases, Phase 1 and Phase 2.

• Phase 1 (Kickoff Evaluation): In this stage, you’re required to show E8 you have the wisdom and risk management it takes to work with them. You set a target profit together, and you have thirty days to make this profit without losing too much money or violating any of the terms set. All is not lost, however, if you don’t manage to meet the goals but still make a profit – E8 will let you try again for free in that case. 
• In Phase 2, you’re faced with a deep and more complex evaluation. This step takes a much closer look at how you trade and what methods you use, but the profit target from phase 1 is decreased by five percent, and you have two months to reach it this time. Traders in this stage also get to try again for free if they make a profit but don’t meet their goals. 

E8 Prop Firm Funding Size & Pricing

E8 Funded Trader

Once you’re past both stages of the evaluation, you can move to finally being funded. In this stage, you’re given access to real money from E8 and you get a lot more freedom. You don’t have any set targets for profit, but you’re warned against news trading and you’re told to adhere to the drawdown limits set by the firm. 

As a funded trader with E8, you’re given access to a user-friendly native dashboard by the company that you can use to keep track of your performance. Not to mention their approach towards profit withdrawals – every time you take out your profits, your funding increases and you’re allowed more flexibility with your trading activities. 

E8 Funding Prop Trading Firm Account Types

You can get access to three different types of accounts through E8, namely E8 Track, ELEV8, and a simple E8 account. The account you end up getting depends on your trading goals and how much funding you want. 

The Evaluation Procedure

We just discussed the evaluation process for accessing E8 funding, but now we’re going to talk about it in a little more detail. To summarize, you need to pass a simulated evaluation before you can access any real money from E8, for which you are charged a basic evaluation fee. Once you pass this evaluation, you can move to trading with real money and your evaluation fee is refunded. If you fail, you don’t get the refund. 

Evaluation Steps & Objectives

If you want to open a simple E8 account, you only need to pass a two-step evaluation. However, you need to pass three stages of evaluation if you’re gunning for an E8 Track type account. Here are the goals you need to reach if you want to qualify for real funding through E8:

Phase 1 Goals

• Profit Target: A minimum eight percent profit is needed. 
• Daily Loss: You can’t lose more than five percent of the money you’re given in a day, and each 24 hour period resets according to CET. 
• Maximum Loss: Over the total period of the trial, you can only bear up to eight percent in total losses. 
• Minimum Trading Days: Trading for at least one day is mandatory. A full day of trading is counted as you holding an open position for 24 hours. 
• Maximum Trading Days: During phase 1, you only have a month to achieve your profit goals from the day you start trading. 

If you want an extended account, you need to stick to the same evaluation rules as those for a regular account, but some things differ: 

• Maximum Loss: In this variation of the evaluation, you cannot lose more than ten percent of the total amount in your account. 
• Minimum Trading Days: Unlike when you’re trying for a regular account, where you only have to trade for a minimum of one day, for this account you need to keep trading for five to qualify for funding. 
• Maximum Trading Days: However, you also have a lot more time to reach your profit goals when you’re trying for an extended account than if you were being evaluated for a regular one. In this evaluation, you have two months to reach your targets instead of one. 

Phase 2 Goals:

In phase 2, you only need to make five percent profit on your amount instead of eight. Everything else remains the same in the case of both Regular and Extended accounts. 

Passing the Account Evaluation

After you pass all your evaluation steps, you gain access to E8 accounts with real funds in them. These funds range from $25,000 and go all the way up to $250,000 in a currency of yours or E8’s choosing. 

Types of Account 

E8 Account

For a simple E8 account, you need to pay a $228 fee for the evaluation process, and you get access to $25,000 once you pass both stages. You get to keep eighty percent of all profits made, but you can’t lose more than $1,250 per day or more than $2,000 in total of those funds during the evaluation. Once you’re actually funded, this loss limit increases to $3,500. 

• E8 Track

This particular account has a three-phase evaluation process, and the fee for the evaluation is different. You get the same amount of funds as a regular account – $25,000 – but you have an additional phase of evaluation with a target profit of $1,250, and you have two months to make it happen. 

• ELEV8 Account

This particular account gives you access to a $100,000 account – much more funding that in either of the other accounts – and you need to make $8,000 in profits during the first stage, and $5,000 in the second. Another reason why this account is an attractive option for the traders who aim high is that you can get access to up to one million dollars to trade with. 

Profit Split

E8 operates under strict principles of transparency and honesty, which are reflected in their straightforward profit sharing policy. As a trader, you get to keep 80% of all the profits you make, and E8 gets twenty percent. 

Similar companies that offer access to trading funds for traders usually give traders only forty to seventy percent of what they make, which makes trading with E8 an especially attractive option for talented traders. 

Is the E8 Funding Legit or Scam?

E8 is a completely legitimate organization based in Texas, US. You can reach them on the contact details listed on their website, which include a location address and chat support live on the website itself. E8 might not provide a phone number or email address, but that doesn’t take away from the fact that they have an established track record in their industry. 

Pros

• Quick and Efficient: E8 Funding delivers a seamless trading experience. One of the standout features is the quick account upgrades, allowing you to level up your trading game without hassle. 

Cons

• Payout Issues: While E8 Funding generally offers a smooth experience, it’s not without its hiccups. A glaring issue is the hold on payouts due to IP address concerns. The company’s investigation process can be opaque, leaving traders wondering why their funds are frozen. In this case, an $8,000 payout was put on hold due to an IP address matching issue, with little clarification. 

Final Verdict

E8 stands out with their solid reputation and the ways they facilitate their traders through their dashboard and access to large amounts of capital for the right people. 

E8’s trading terms are simple and uncomplicated. They have no minimum trading days or any restrictions on their traders beyond not allowing illegal activity, and they simply ask for a 20 percent cut of whatever funded traders make. Another show of good faith by E8 is how they give back evaluation fees to traders who pass and access their funding, starting a mutually beneficial relationship off on the right foot. 

E8 offers robust customer support services to its active traders within working hours, even if it doesn’t provide 24/7 customer support. 

E8 has a solid 4.8 rating out of 5 on Trustpilot, with numerous reviews hailing the firm as one of the best their traders have worked with. They are especially lauded for their reliable support and the resources they provide to successful traders, making them a great option for you if you’re trying to look for a prop firm that will be in your corner from the get go!