E8 Funding Review 2024

Last Updated on July 6, 2024 by Richard Gibson

The Background of E8 Funding

We found E8 Funding to be based in the USA, having other offices in Dallas and Texas. Besides the USA, we have also discovered their offices in Prague, Czech Republic. According to their social media and website, they commenced their forex traders funding program on November 5, 2021. It might not be a long time, but it’s neither too less to impact the proprietary funding business in the Forex Funding Industry.

In the following sections, you’ll find our experience with E8 Funding and if we recommend you to take their service.

E8 Funding Legal Information:

To begin with, firstly we needed to know about their account type and how they work. We went onto their website to check the flow of funding for traders.

E8 Funded Account Types

They have a very interesting account solution, they offer three different types of accounts E8 Account, ELEV8 account and E8 Track Account. We found E8 Account to be the fastest one to start with while the ELEV8 Account needs one to pass Phase 2 of the traders’ competency evaluation process and E8 Track accounts need one to pass phase 3.

Ohh.. sorry, I didn’t introduce you to their traders’ competency evaluation process.

We found them having 2 phase traders’ competency evaluation process. In phase 1, we were given a trading objective to achieve within 30 days. In this phase, the rules were not too strict but a true trader who has knowledge of risk management and solid trading strategy would pass quite easily. They even allowed drawdowns to a certain limit.

According to my experience in forex trading and having operated others prop firm’s accounts I found E8 Account quite convenient in pricing. Though it starts only at $228 for a $25k account, I started with a $100k account that cost us $588. We choose this particular account size totally to check the risk factors involved in choosing a larger size account. However, you can choose any of their E8 Account from the offered four types. You may now think that…

What is the difference between E8 Account and ELEV8 Account?

The basic difference is that for E8 Account you’re starting with an account size of as little as $25K but ELEV8 Account offers you to start with directly at $100K. The Trader’s competency rules are still the same here. You have to pass the same objectives like the one in the E8 Account. The benefit of choosing ELEV8 Account is that if you can maintain the objectives well, your account will be boosted with $100K more after 30 days. Moreover, there is no fixed trading period and no profit target to be worried about. We never had to deal with trades that would take us at risk of breaching our 8% loss limits in either of the account types we traded on, and we never had to lose more than 5% daily.
I would take this opportunity to thank my boss David for his continuous support throughout the trading period and MyForexReport team of traders.

The difference between E8 Track and E8 Account

The E8 Track program is a 3-phase evaluation with a lower cost of entry for traders who have demonstrated that they are capable of managing capital and are willing to pass through an extra phase of evaluation. E8 Track has an additional evaluation phase, which is the only difference between the two evaluation models.

You can generate 80% profit on their funded E8 Track account if you follow the account’s objectives and rules. The daily drawdown is calculated by deducting 5% from the initial balance or scaled balance of the account. A payout will be eligible after eight trading days, and profit splits after 14 days.

E8 Funding Size and Pricing

I believe it’ll be helpful to you if I share the evaluation phases with you in detail. It will certainly be working like a guide to you and many more.

E8 funding evaluation phases

E8 Funding Spreads

You don’t have to go down to their website and sign up now to know about E8’s spread,. Since we’ve traded with them, here is how we found their spreads to be in different instruments.

E8 Dashboard Tour ( Real Account ):

E8 Funding being a very new fund provider in the forex prop firm industry has a very attractive, well-organized, informative, and seamless Dashboard for traders. According to our experience, we’ve got a very decent user-friendly dashboard from them. A disorganized user interface is a common issue traders encounter when exploring a prop firm dashboard, however, E8 Funding has set a standard in this regard. It would be simple for any trader to find the information they need.

Payment Proof and Profit Split

If you’re reading this article this far, it’s our core responsibility to introduce you to the E8 Funding payment proof and profit splits. As of my experience against their promised up to 80% profit share, here is how it went with us. Since I trade for MyForexReport, you might have expected that I would get additional benefits throughout my trading period. Sadly, they didn’t give me any additional advantages in addition to their standard services.

E8 Funding Education, Tools, and Application

It was shocking for me not to find any educational content on their website, youtube channel, and social media. Generally, every forex service regardless of their field of work provides educational content for traders. I really don’t know why they didn’t choose to provide content for the traders. However, we do care about traders, which is why you can get a huge collection of blogs and videos here as well as on our YouTube channel.

Throughout the journey, we didn’t find any tools that should’ve been there to assist in better decision-making. Pip Calculator, Lot size calculator or other forex calculators should’ve been there, but it wasn’t there. There were only economic calendar tools we found in the dashboard, I’m not really sure if we can call Economic Calendar a tool!

However, they provide an mt4 platform inside the dashboard. It runs smoothly throughout our trading period.

Besides, E8 has an app for iPhone and Android users. Their app is not easily gettable, we had to go out to their support to find out how to do it. Here is how you can download the E8 funding app…

Trading Assets and Instruments

There are not many prop firms that provide complete trading instrument solutions. In my experience, E8 Funding is listed among those few who offer so. We found them providing Forex, Commodities, Indices, Equities, and Cryptocurrencies to trade with their funded money.

Reputation and E8 Funding Reviews

The reputation of a fund provider is probably one of the most important factors for traders like us, since a badly reputed company may trap you and get you scammed. We, at MyForexReport, always take on such matters carefully. After that Funding Talent thing, we had to do it in a more extensive way. Regarding E8 funding reputation, we have gone through every possible web attribute, since they were new(est. 2021), we made thorough research before we subscribed them for trading with their fund.

E8 Trader Experience:

It’ll be biased to share only our experience trading with E8’s Funding, but we don’t want that happening. So we look for some other E8’s funded traders to know about their journey. We found Tim Wade and Erin Smith agreeing to share their E8 experience with us for the purpose of this review. We won’t go into detail about their experience, but in the following screenshot of our conversations with them, you will find how.

Trader Tim Wade:

Trader Erin Smith:

E8 Funding Trustpilot:

Since TrustPilot is considered to be the most dependable site for individual review, we, for the purpose of this review, also investigated E8 Funding’s profile there for more opinions by traders.

Video Review of E8 Funding

E8 Funding Customer Support

Throughout this E8 Funding review process, we were in continuous contact with E8 Funding through their website live chat support, and email for some information and material support. They have a limited time scheduling for live customer support and the timing is Monday-Friday: 5 AM – 5 PM CST. Their weekend is scheduled from 8 AM – 2 PM CST. Martin and Jerry, we found both of them very active in replying. They barely replied after 3 minutes.

E8 Alternatives

It’s been almost a year since E8 Funding launched their operation. Many traders may be wary of a new prop firm because there is some risk involved, which is true. But the offerings of such new prop fund providers can get past the ones of top-tier ones. So we tried to compare the top-tier alternatives of E8 Funding, and this is how it looks.

E8 VS FTMO:

E8 VS MyForexFunds:

Things That E8 Should Improve

E8 Funding as a new prop firm offers a number of options for traders to make their trading journey easier, on the other hand of the story, after talking to many E8 Funded traders and our own experience, we’ve identified a few factors, which, if could be improved, would result in a 100% trader satisfied proprietary trading firm.

1. Office Image

E8 Funding’s team and office pictures are not featured on their website. Even if we only got a few pictures of them online and on their telegram channel, in my experience as a long-time trader in this industry, posting pictures of their workplace on social media and their website will increase their credibility among traders. By doing so, they would gain the same level of market credibility and acceptance as top proprietary firms and their other competitors.

2. 24/7 customer support

Most of the proprietary firms now make their customer support available 24/7, E8 Funding Customer Support, however, is only available to a certain time schedule. We believe if they can make it 24/7 and solve trader’s issues and the queries of interested people, they would certainly be appreciated over other proprietary firms.

3. Discord server

The most recent innovation in creating its own trading community inside the prop firm sector is the use of a discord server. Prominent prop firms like E8 Funding not having a trendy social community platform like Discord is a drawback in my sense. They might not consider it as a platform for growth! However, they should use such a trendy and demanding community for growth.

4. Trader friendly pricing

Pricing for E8 Funding is relatively expensive in comparison to both contemporary competitors and established prop firms. An aspect to take into account for long-term growth in the number of traders under their belt would be providing funds at a traders-friendly fee structure. If they don’t emphasize on improving, even in their account funding fees, they risk being outperformed by others in the fiercely competitive market.

Is E8 Funding Legit or Scam?

Since you have already read this far, you may not have this question roaming around your mind. E8 Funding with our investigation has legit proof of being a US entity. They are formed under the jurisdiction of Texas Limited Liability Company. Besides, we could explore E8 Funding offices and their activity for the traders that don’t show anything suspicious as of now.

E8 Funding Review Conclusion:

E8 Funding being a new prop firm, offers lots more benefits than other contemporary prop firms are lacking. Their account types and the traders’ friendly evaluation phases have taken their acceptability to another level. Since they’re transparent about their commitment and promises, we’ve seen them follow up if the traders are facing difficulties in trading and through the funding process. We encourage you to trade with them because we discovered them to be reliable in terms of timely payouts, clearly fast funded account processing, and the reasons we’ve already stated above.

Happy Trading! ❤

E8 Funding Frequently Asked Questions

Read the detailed E8 funding FAQ section updated for 2022.