E8 Funding stands out as a relatively new player in the world of forex prop firms, offering aspiring traders the chance to manage a funded account. But before diving in, let's explore the key aspects of E8 Funding to see if it aligns with your trading goals.
Getting Funded: E8 Funding offers multiple account sizes with varying capital amounts. You'll need to pass an evaluation process, typically through a combination of demo trading challenges and meeting specific profit targets. This ensures you possess the necessary skills and risk management strategies before handling real capital.
Trading Platforms & Flexibility: E8 Funding provides access to popular platforms like MT4 and MT5, allowing you to trade with the tools you're comfortable with. They also permit the use of algorithmic trading (Expert Advisors), catering to traders who utilize automated strategies.
Fees & Profit Sharing: E8 Funding primarily focuses on spreads and commissions associated with your trades. While spreads start from 0.3 pips, it's crucial to check the details of any additional commission fees. On the positive side, E8 Funding boasts an 80% profit share, which is on the higher end compared to some prop firms.
Leverage & Risk Management: E8 Funding offers maximum leverage of 1:100 for major currency pairs, with lower leverage for minors, exotics, and cryptocurrencies. This can be attractive for experienced traders, but remember, higher leverage comes with amplified risk. E8 Funding emphasizes responsible risk management with a drawdown limit (maximum acceptable loss) in place to protect their capital.
Finding the Right Fit: E8 Funding can be a good option for experienced traders comfortable with a challenging evaluation process and higher leverage. The 80% profit share and platform flexibility are definite perks. However, newer traders or those seeking lower leverage and more hand-holding guidance might find other prop firms more suitable.