E8 Funding Review 2023: expert opinion, pros and cons

By
June 28, 2023

E8 Funding is a US and Czech Republic-based proprietary trading firm with worldwide accessibility. They offer trading accounts ranging from $25,000 to $250,000, expandable up to $1 million, with a starting fee of $138 and no monthly charges.

In the E8 Funding review conducted by TU experts, they highlighted several noteworthy aspects of the firm’s trading services. These include an extensive range of trading instruments, flexible profit splits, and the utilization of both the MetaTrader 4 and MetaTrader 5 platforms. Additionally, the company organizes real account challenges, adheres to legal limit restrictions, and notably, does not impose any mandatory profit targets.

E8 funding pros and cons

Traders Union, while evaluating proprietary trading firms, identifies various strengths and weaknesses that these platforms offer. With E8 Funding, several key pros and cons come into play for potential and current users.

Pros:

  • E8 Funding offers three account types tailored to diverse trading objectives, accompanied by several initial fee choices.
  • The firm charges no monthly or withdrawal fees, only an initial fee that is refundable.
  • Traders can implement any strategy, including weekend trading and using advisors.
  • The company provides MetaTrader 4 and 5, widely popular and feature-rich trading platforms.
  • Traders retain 80% of their profits, with payouts possible from the 8th day of collaboration.
  • The firm sets achievable challenge targets of 8% and 5% profits in 30 and 60 days, respectively.
  • E8 Funding’s scalable accounts let traders increase their balance up to $1 million.

Cons:

  • Traders accustomed to platforms like TradingView, NinjaTrader, or R|Trader must adapt to using MetaTrader 4 and 5 when working with E8 Funding.
  • The firm’s technical support primarily communicates via email and lacks a call center. Live chat support is only available during specified hours.
  • E8 Funding allows profit withdrawal only once every 14 days.

Expert review of E8 Funding

TU experts highlight that E8 Funding, with its headquarters in Dallas (USA) and Prague (Czech Republic), was established by professional traders and investors to facilitate trading using other people’s capital.

Some essential points to consider are:

  • They provide three flexible account types with varying balance options, a maximum starting balance of $250,000, and the potential to scale to $1 million.
  • Initial fees of $138 are refundable on all accounts except for the ELEV8.
  • Interestingly, the E8 and E8 Track accounts have no profit target requirements, allowing free trading with the possibility of hedging, night and weekend trading, the use of advisors, and trade copying.
  • The ELEV8 account stands out with its balance growth feature. If a monthly target is reached, an additional $100,000 is added to the account balance, maintaining a consistent 80% profit share for the trader.
  • Although E8 Funding lacks a call center, a live chat is available during limited hours.
  • The company operates on the MetaTrader 4 and MetaTrader 5 platforms, demanding familiarization with their unique features, despite the popularity of alternatives like R|Trader, cTrader, or TradingView.

Comparison of E8 Funding with other brokers

TU analysts provide a comparative assessment of E8 Funding with other brokerage firms to aid traders in making informed choices.

  • Topstep: A reputable firm known for its futures and forex trader funding programs, providing robust risk management tools.
  • Fidelcrest: A globally recognized proprietary trading firm offering various instruments and flexible trading conditions.
  • SurgeTrader: It provides unique funding solutions for aspiring traders, emphasizing training and skill development.
  • Funded Next: Known for competitive profit splits and funding levels, offering a variety of trading instruments.
  • Earn2Trade: An educational platform that provides funding opportunities for proficient traders, renowned for its comprehensive learning resources.

In this landscape of proprietary trading firms, My Forex Funds also holds a significant position. Particularly noteworthy are the My Forex Funds, which are competitive and cater to novice and seasoned traders, further enhancing their trading efficiency and potential for profits.

Conclusion

In conclusion, E8 Funding presents a viable opportunity for traders seeking scalable trading accounts, flexibility, and competitive profit splits. It is essential, however, to weigh the pros and cons against personal trading needs. For more comprehensive reviews and comparisons, visit the Traders Union website.