E8 Funding is a prop trading firm located in the USA.
In this article, you’ll get a review of this prop firm, including analysis and instructions to get funded with an account from E8 Funding.
Here’s what you’re going to learn:
- What Is E8 Funding
- What Can You Trade With E8 Funding?
- What Are The E8 Funding Account Sizes?
- What Is The E8 Funding Leverage?
- How Much Is The E8 Funding Payout?
- E8 Funding Reviews
- Challenge – E8 Account
- Challenge – E8 Track Account
- E8 Funding EAs (Expert Advisors)
- E8 Funding Free Trial
- E8 Funding Free Repeat
- E8 Funding Platforms
- E8 Funding Trading Hours
- E8 Funding News Trading
- Is E8 Funding Legit?
- E8 Funding Alternatives
- Recap
- Learn More
What Is E8 Funding
E8 Funding is a prop firm located in Dallas, Texas, USA. It was founded in 2021 so it’s a quite recent company.
What Can You Trade With E8 Funding?
E8 Funding is a prop firm that funds traders to trade Forex and other CFDs trading assets.
Here’s a list of all of them:
- Forex: All major, minor, and even exotic pairs are there if you are a Forex trader.
- Indices: Traded as CFDs, you have all the important indices available to trade including Dax, Nasdaq, Dow Jones, S&P500, and others.
- Metals: Silver and Gold.
- Commodities: Crude Oil.
- Crypto: BTC, ETH, DASH, LTC, and XRP.
- Stocks: TSLA, NFLX, AAPL, and FB (which should be META currently).
What Are The E8 Funding Account Sizes?
The E8 Funding funds traders with account balances that go from $5,000 up to $400,000.
There are three different types of accounts that you can apply to. They are:
- E8 Account (2-step evaluation)
- Track Account (3-step evaluation)
To get access to a funded account you need to pass a challenge, called “funding process”, which can have two or three phases, depending on the account type chosen. The price of the challenge is different according to the account size that you are applying to.
The prices of the smaller funded account start at $71 and go up to $1091 for the bigger account.
What Is The E8 Funding Leverage?
The leverage provided by the prop firm is different depending on what symbol you are trading.
Here’s a list of the leverage by trading asset:
- Forex pairs: 1:50
- Metals: 1:25
- Indices: 1:25
- Crypto: 1:2
How Much Is The E8 Funding Payout?
E8 Funding shares the profits with the trader with an 80% profit split. You get 80% of all the profits that you make once you get funded, and the prop firm keeps 20% for them. Unlike some other companies, there’s no minimum profit to receive your 80% share.
When trading the ELEV8 Account, the profit split can go up to 90%.
E8 Funding Reviews
According to Trustpilot, E8 Funding is classified as excellent. It’s scoring 4.7/5.0. It just doesn’t have tons of reviews. Less than 1000 yet, but that’s understandable since it’s a recent company.
Challenge – E8 Account
The E8 Account is one of the challenges that you can choose from, to apply to a funded account.
This challenge has two different phases. In each phase, you have to achieve a minimum profit target, within a trading period, without exceeding drawdown limits.
Let’s look at them in detail.
Phase 1
During this phase, you need to prove that you can trade responsibly and manage risk appropriately.
Here are all the details:
- Daily drawdown: Maximum of 5%
- Initial balance drawdown: Maximum of 10%
- Profit target: 10%
- Trading period: There’s no time limit to reach the targets.
- Minimum trading days: You only need to trade one single day to pass this objective.
Phase 2
When it comes to phase 2, the profit target decreases, which makes it easier to get, while the other conditions are the same as in phase 1. Here are all the details:
- Daily drawdown: Maximum of 5%
- Initial balance drawdown: Maximum of 10%
- Profit target: 5%
- Trading period: No time limit to achieve your profits.
- Minimum trading days: You only need to trade one single day to pass this objective.
Challenge – E8 Track Account
This is a second challenge that you can choose from to get funded, and this one has three phases.
Why three phases?
Well, according to E8, it’s a lower-cost product directed to traders who are ready to manage capital and don’t mind going through an extra phase of evaluation.
Let’s look at all the details of the phases.
Phase 1
During this phase, you need to prove that you can trade responsibly and manage risk appropriately.
Here are all the details:
- Daily drawdown: Maximum of 5%
- Initial balance drawdown: Maximum of 10%
- Profit target: 10%
- Trading period: No time limit to achieve the targets.
- Minimum trading days: You only need to trade one single day to pass this objective.
Phases 2 and 3
When it comes to phases 2 and 3 (the requirements and rules are the same for both), the profit target decreases, and the trading period to achieve the target increases. Here are all the details:
- Daily drawdown: Maximum of 5%
- Initial balance drawdown: Maximum of 10%
- Profit target: 5%
- Trading period: No time limit here too.
- Minimum trading days: You only need to trade one single day to pass this objective.
E8 Funding EAs (Expert Advisors)
Using an EA with E8 Funding is somehow restricted.
You are free to use any kind of EA that is meant for risk management or trade management.
If it’s a custom EA, that you created for yourself, you can eventually use it. You will need to explain the strategy to E8 Funding, share the source code with them, and wait for their approval.
In case the EA is third-party, it is not allowed.
E8 Funding Free Trial
If you want to test the prop firm first, you can request a trial from E8.
They will give you access to the dashboard, with all the features available, and you can test a $100,000 account of simulated funds.
Please understand that the trial accounts are not eligible for a payout. For that, you’ll need to purchase a challenge.
E8 Funding Free Repeat
Unfortunately, although this feature was available in the past, E8 Funding doesn’t have a free repeat option at the moment.
E8 Funding Platforms
E8 Funding gives you access to the most popular trading platform used by Forex brokers.
You can use:
- MetaTrader 5
- Match Trader
This includes the mobile versions of the platforms, either iOS or Android.
E8 Funding Trading Hours
There are no restrictions about having to close your trades at any particular time.
You can have trades open during the overnight rollover, and also during the weekend. You just need to be aware of possible gaps that may occur and that may make you break a rule.
Trading during the weekend is also allowed when trading crypto since the crypto markets are open 24/7.
You can keep your trades open for as long as you need, according to your own trading style.
E8 Funding News Trading
I have good news for you! (horrible joke…)
You can trade news releases without any problem.
As long as you’re careful with your risk management and are aware of the risks, you’re free to go. This is only available during the challenge though. Once you get funded they don’t want you to trade news.
Is E8 Funding Legit?
Yes, E8 Funding is a legit company.
Here are the contacts to reach them:
Address: 100 Crescent Ct, Unit 700, Dallas, TX 75201, United States
No phone number or email is provided, but you can also reach them on their website using Live Chat Support.
E8 Funding Alternatives
Here’s the list of the best E8 Funding alternatives:
For more alternatives check our alternative prop firm tool:
Get Alternatives To Any Prop Firm
Recap
- E8 Funding is a prop trading firm based in the US.
- You can get a funded account with up to $400,000 in balance and 80% profit split payout.
- To get access to a funded account you need to pass one of two different challenges, depending on the account type that you want to apply to.
- You can trade Forex, Indices, Metals, Stocks, and Crypto.
- The popular MT5 and MatchTrader platforms are available to trade.
Learn More
- What is prop trading
- List of the best prop trading firms
- Compare any prop firm
- The best Forex prop firms
