E8 Funding
E8 Funding, incorporated on November 5, 2021, is a proprietary trading firm located in Dallas, Texas, and Prague, Czech Republic. Managed by CEO Dylan Elchami, it offers traders two unique funding program options: the E8 Account and the E8 Track, with account sizes ranging from $25,000 to $200,000. They partner with Purple Trading Seychelles as their broker.
- Relaxed Trading Rules Allows trading during news, overnight, and weekends.
- High Profit Split Offers up to 90% profit split.
- Scaling Plan Account balance increases every 3 months based on performance.
- Diverse Trading Instruments Includes forex pairs, commodities, indices, and cryptocurrencies.
- No Minimum Trading Days Provides flexibility in trading without time constraints.
- Leverage up to 1:100 Offers higher leverage options for various instruments.
- Competitive Pricing Account sizes up to $200k for reasonable prices without any additional or hidden fees.
- New in the Industry Being established in 2022, it's relatively new with a shorter track record.
- Limited Educational Resources Lacks comprehensive educational programs for traders.
- Withdrawal Waiting Period First payout requires 12 calendar days.
- Trading Commission Cost Trading Commission Costs: Charges a commission fee of 7 USD per lot for Forex, Commodities, Indices, and Crypto, which might be a consideration for traders focusing on cost efficiency.
Overall Impressions
Smart Prop Trader is an attractive option for traders seeking a prop firm with straightforward rules and high profit splits. Its newness in the industry is balanced by its flexible trading conditions and scaling opportunities.
Prop Firm Rating Breakdown
Customer Support
E8 Funding offers comprehensive customer support through multiple channels like live chat, email, phone, Discord, Telegram, WhatsApp, and Messenger. The high rating on Trustpilot, with many reviews highlighting their responsive support, indicates a strong commitment to customer service.
Challenge Difficulty
Justification: The challenge difficulty seems to be moderately high, which is suitable for serious traders. The two-step and three-step evaluation processes with realistic profit targets and loss limits provide a balanced challenge, ensuring that traders are competent without being overly stringent.
Price
The pricing for the E8 Account and E8 Track programs appears competitive and offers good value, especially considering the account sizes and profit splits. The availability of a discount code and the scaling plan add to the attractiveness of their pricing structure.
Ease of Use
The user interface and overall trading experience with E8 Funding are reported to be very user-friendly. The well-designed website and trader dashboard, along with the flexibility of no minimum or maximum trading day requirements, contribute to a seamless user experience.
Overall Rating
E8 Funding stands out as a reputable prop trading firm, offering excellent customer support and a user-friendly platform. The challenge difficulty is well-calibrated for serious traders, and the pricing structure provides good value for the services offered. Overall, E8 Funding is a strong choice for Forex traders seeking a balanced, supportive, and professional trading environment.
Funding Program Options
E8 Account
A two-step evaluation process with account sizes from $25,000 to $200,000. Traders must meet profit targets of 8% in phase one and 5% in phase two, adhering to a 5% maximum daily loss and 8% maximum loss rules. The account offers a scaling plan and an 80% profit split.
E8 Track
A three-step evaluation process with similar account sizes and profit targets as the E8 Account. It also features a scaling plan and an 80% profit split.
Trading Details
Trading Rules & Objectives
- Profit targets vary across phases, with no specified targets for funded accounts.
- Maximum daily loss is set at 5% for all account sizes.
- Maximum loss is set at 8%, scalable up to 14%.
Unique Features
- Drawdown scaling, unlimited trading period, and first withdrawal after only 8 calendar days.
- Affordable evaluation fees for the E8 Track.
- Flexibility with no minimum or maximum trading day requirements.
Trading Fees
- Commission Fee: 3 USD/LOT for Forex, Commodities, Indices, and Crypto.
- Spread Account: Live spreads available upon logging into the trading account.
Education and Support
E8 Funding provides educational content through its E8 Blog, covering various trading-related topics. They offer a free trial option and a professionally designed trader dashboard for risk management.
Social Media and Community
E8 Funding maintains a presence on multiple social media platforms and has a strong community of traders.
Customer Support
Available through live chat, email, phone, Discord, Telegram, WhatsApp, and Messenger. The firm supports English language.
Account Opening Process
The process involves registration, choosing an account type, applying a discount code, selecting a payment method, and receiving login credentials.
Trustpilot Feedback
E8 Funding has established a commendable reputation on Trustpilot, achieving an impressive rating of 4.7 out of 5 from a substantial pool of 1,478 reviews. This high rating is a testament to the firm's commitment to providing excellent service and support to its traders. Reviewers frequently praise E8 Funding for its professional approach, prompt and enthusiastic customer support, and efficient handling of payouts and withdrawals. Traders appreciate the clean and user-friendly design of the website and trading dashboard, as well as the firm's transparent and fair trading conditions.
