E8 Markets Prop Firm Review – E8 Funding is one of the leading names in the proprietary trading space. E8 offers the opportunity for talented, upcoming traders to trade funded accounts while exposing themselves to minimal personal risk. With a special focus on accessibility and competitive challenges to strong funding opportunities, what really places E8 Markets as an option for traders scaling their operations is their focus on accessibility to competitive challenges and strong funding opportunities. It is also going to review the pros and cons of E8 Funding Prop Firm, state key features, trading conditions, and a comparison with other proprietary firms present in the market.
Key Features of E8 Markets Prop Firm
- A two-step or three-step evaluation with a profit target of 8%
- No minimum trading days
- Phase one is 30 days, phase two and phase three 60 days with a profit target of 5%
- Traders who do not violate the trading parameters but fail to meet the profit target get a free retrial.
- Maximum leverage of 1:100
- MT4, and MT5 trading platforms.
- A daily drawdown limit of 5%
- An 8% overall drawdown limit based on the starting capital.
- A refundable evaluation fees.
- A multi-step scaling plan that increases the maximum drawdown limit to 14%
- Algorithmic trading
- Free 14-day trial
- Three account base currencies
- 39 currency pairs, including exotics and emerging markets.
- 3 commodities
- 5 indices
- 5 cryptocurrencies
- 4 blue-chip equities listed in the US.
Pros of E8 Markets Prop Firm
Ease of Use and Customizable Dashboard
E8 Markets offers an extremely user-friendly and intuitive interface, allowing both experienced traders and complete newbies to access the platform with ease. The EX8 dashboard is fully customizable and allows traders to track all KPIs needed for easy analysis of their progress. Informed decisions and fine-tuning one’s strategy are perfectly possible on the basis of up-to-date real-time data, which means overall higher performance.
Flexible and Accessible Payout Options
Some of the ways traders can withdraw earnings are through Bank Transfer, PayPal, Revolut, Wisepay, Payoneer, and even in cryptocurrency via Coinbase. With this, it enables flexibility among traders since one is open to options that may favor him, hence giving an easy time managing funds anywhere around the globe.
Competitive Trading Conditions
The E8 Markets offer the best conditions for trading with the option for high leverage available to maximize the position size, up to 1:50. Besides, commission-based spreads from only 0.3 pips will enable traders to enjoy cost-effective trading while always being in full control of your trade. Such is quite an encouraging environment for both a short- and long-term trader.
Generous Profit Sharing and Payout Schedule
Some of the major highlights of E8 Markets include a very attractive profit-sharing model. The traders are entitled to an 80% share in the profits, which is payable after trading for only eight days. This is sweetened by a bi-weekly payout schedule to make sure the traders have periodic access to their earnings. This is a good and more frequent payout structure that works great with active traders.
Multiple Funded Account Options
E8 Markets offers four kinds of funded accounts, and it lets traders decide for themselves which account suits them best according to their trading goals. These accounts are available in three base currencies, meaning traders can operate in the best currency for their needs. The diversity of options makes E8 Markets welcome to traders of all backgrounds.
No Trading Day Restrictions
Unlike many other grounds that may restrict trading days one way or another, E8 Markets do not have a certain minimum or maximum number of trading days to be obliged from the trader. It gives enough time to the traders to operate at their speed, following the pace of the market opportunity without any time pressures.
Fee-Free Payouts
E8 Markets boasts of providing commission-free payouts. It implies that traders can cash out their profits without the platform charging one extra cent in commissions. With each of the various payment processors having its own fees, E8 Markets does not charge any fee to traders for drawing their payout amount; hence, traders can retain more of their hard-earned profits.
Cons of E8 Markets Prop Firm
Low Responsiveness to Customer Support
E8 Funding Customer support is slow-moving, and this can be considered one of the major downsides. Traders have complained of times when they needed assistance with something or needed clarification on an issue dealing with their funded account. Slow support can be irritating, especially for traders that work in markets that race against time where there is a need for a solution here and now to keep things at a high speed.
Lack of Transparency in Management
E8 Funding does not provide any information about its management team on the website. To some traders, knowing the people behind the company builds confidence and a sense of trust in the firms they are working with. The fact that this is not there might raise an eyebrow for those who like to have more openness and visibility in the leadership structure of a trading firm.
No Information about Partner Brokers
Another issue is the fact that there is no information provided on the brokers E8 Funding works with. Most prop firms report the brokers they work with so that traders can make an educated decision based on the broker’s reputation, its trading conditions, and its regulatory status. Without this information, it is impossible to come to any conclusion about execution quality, fees, and possible risks related to trading via the E8 Funding platform.
Equity-based drawdown and slippage highlighted
Equally important, E8 Funding has emphasized equity-based drawdown and slippage throughout their assessment and account rules. These are crucial ways to assess a trader’s performance and their risk management capabilities. On the other hand, however, some traders may not find it very accommodating with the strict focus on equity-based drawdown since that usually limits flexibility regarding larger position sizes. Slippage can affect profitability, especially in volatile markets, so traders should note how E8 Funding handles this during evaluation.
E8 Funding Challenge Review
The E8 Funding Challenge is a trading challenge that evaluates a trader’s performance in real market conditions, discipline, and other skills. It would give one an opportunity to gain access to funded accounts, yet at the same time, there are also disadvantages that come along with it, such as strict rules of drawdowns, not stating too much about the broker part and about management. Traders considering E8 Funding should understand the challenges and benefits before joining the program.
Brokers Used By E8
E8 Funding works with Purple Trading Seychelles as their broker. More than a broker, Purple Trading Seychelles wants to be much more.Their goal is to offer traders competitive conditions, advanced technologies, and a partnership where traders view them as equals. They feel that they really need guidance to succeed with the pace of financial markets, which seems to only get faster. For further detailed analysis, refer to our review on Purple Trading Seychelles. Traders who will be using E8 Funding will be able to access the trading platforms with MetaTrader 4 or MetaTrader 5.
Evaluation Fees & Profit-Sharing
The one-time evaluation fee at E8 Funding ranges from $138 for a three-step evaluation period and $228 for a two-step alternative, all the way to a maximum of $988, depending on the account balance desired. Trades cannot change this value once approved-and that would mean if they choose the $25,000 account, they will manage a $25,000 portfolio upon passing the evaluation. E8 Funding reimburses the one-time evaluation fee for all passing proprietary traders. E8 Funding has an 80% profit share, which is at the top of the industry range and has become a standard amongst competitive prop trading firms.
Education and Trading Tools at E8 FundingÂ
The educational materials offered by E8 Funding are rather bare. The prop firm offers an economic calendar, which traders can use to highlight some key market updates and news releases to time their trades adequately. In terms of additional educational features, such as webinars and blogs, E8 Funding is lacking some core features. The E8X Dashboard offers performance measurement solutions for traders to easily evaluate their trades and track progress in real time.
Instruments
Currency pairs, cryptocurrencies, indices, stocks, energies, and metal СFDs.
Frequently Asked Questions (FAQs)
What platforms can traders use with E8 Markets?
E8 Markets supports MetaTrader 4/5 and may offer other trading platforms depending on the account.
How does the profit distribution work at E8 Markets?
At E8 Markets, traders receive 80% of the profits they generate, ensuring the majority of the earnings are rewarded to the traders themselves.
Are there any fees on payouts at E8 Markets?
E8 Markets does not charge any commissions on payouts. However, external payment processors might apply transaction fees.
Can traders customize their trading accounts at E8 Markets?
Yes, E8 Markets offers customizable accounts where traders can set their preferred drawdown limits, profit targets, and payout shares to match their trading style.
