E8 Funding Review: Let’s Start From The Beginning – Background
E8 Funding is a proprietary company founded in Dallas, Texas, USA. It was established in 2021 with the aim of providing traders with substantial capital for trading on advanced platforms.
The company has a lot of clients and boasts countless positive reviews. However, things haven’t been looking good for E8Funding lately as the company started receiving numerous complaints and was even accused of being a scam. We investigate in our E8 Funding Review.
|Regulated by:||No Regulation|
|Is This Company Safe?||Issues May Occur|
|Have Warnings from:||N/A|
|Trading Platforms:||MT4, MT5|
|Minimum Deposit:||25,000 USD|
|Trading Assets:||Forex, Commodities, Indices, Stocks, Crypto|
|Free Demo Account:||Not Available|
|How to Withdraw from This Company?||You can request a withdrawal from E8 Funding’s representatives or contact us in case you face any issues regarding this question|
Is E8 Funding Legit?
E8 Funding is a proprietary firm, meaning the company provides the trading capital to traders who pass the evaluation process. The traders then use the capital to make profits, which are later split between them and E8 Funding. In order to become an E8 Funding trader, you first have to complete the evaluation process.
Since E8 Funding is a proprietary firm, it does not require a license, i.e. this type of business is not regulated. We based this analysis on what the company offers on its website and what traders wrote on the forums.
The point of our review is to prove that issues may still appear regardless of the company’s status. It is important to know what to do if you notice that a scam is at play.
Trader Reviews – Sharing Experiences
What do traders think about the E8 Funding prop firm? These E8 Funding trustpilot reviews (trustpilot.com) are the reason we are doing our review in the first place. It’s important to address the increasing number of complaints and scam accusations. At the time of this writing, the company had 1,238 reviews and an average score of 4.7 (excellent).
However, there have been a lot of complaints in the last couple of months. Common themes in all of the negative reviews are poor customer support, account manipulation, an extremely wide spread on GOLD, a rigged platform, withdrawal issues, etc. There aren’t many E8 Funding reddit reviews though.
Don’t work with this company guys, they just scammers. They have “floating loss”, it’s a trick that’s kill your account. Other prop firm have independent balance stop and equity stop, but this guys just scam you with their FLOATING loss, no one prop works like this…
- Trustpilot user, July 28, 2023.
E8 is a worse prop firm due to a high slippage, too high spread especially on gold, even with the high spread, they still get commission on each trade. I can’t even seem to trade and enjoy with E8. I don’t think i can recommend them to anyone. otherwise, your risk will always be more than your reward even if you factor in spread to you lotsize;
- Trustpilot user, July 14, 2023.
Where Does E8Funding com Operate?
The company was founded in 2021, which means it’s relatively new. Since then, E8 Funding has been offering its proprietary services mainly to traders from the following countries:
- South Africa.
All of these countries have English as an official language. To reiterate, the company does not require a license to operate in these domains. Still, you have to be careful due to all the recent complaints and negative reviews. Always check the profile of the company you’re interested in so as not to fall into a trap. There are many shady providers out there such as primotrade.
If you are a victim of the E8 Funding broker scam, book a consultation with us. We are here to help.
According to E8 Funding’s website, the company offers many trading instruments from the following main asset classes:
- Forex currency pairs – EUR/USD, GBP/USD, AUD/CAD…
- Indices – S&P 500, FTSE 100, NIKKEI 225…
- Commodities – gold, silver, oil…
- Stocks – Tesla, Google, Apple…
- Crypto – BTC, ETH, LTC…
E8 Funding account types
To become a trader at E8 Funding Firm, you must choose an account type and start the evaluation process. EE8 Funding offers several account types tailored to meet the needs of different traders. Each account type comes with its own features, initial fees, and profit-sharing arrangements. Here are the main E8 Funding account types:
- E8 Funding track account – this account is designed for traders who want to start with a lower initial fee and work their way up. It offers a balance range from 25,000 USD to 50,000 USD. Traders have the opportunity to demonstrate their skills and progress through multiple phases.
- E8 Funding standard account – the E8 Standard Account is suitable for traders looking for more significant growth potential. It offers a balance range from 50,000 USD to 100,000 USD. Traders can take part in the trading challenge in two phases, each with specific profit targets and drawdown limits. The initial fee for the E8 Standard Account starts from 368 USD.
- ELEV8 Account – the ELEV8 Account is targeted at experienced and ambitious traders. It offers a balance range from 100,000 USD to 250,000 USD. This account provides the opportunity for traders to achieve substantial growth in their accounts. The initial fee for the ELEV8 Account is 988 USD, and it is non-reimbursable.
According to the E8 Funding login page, each account type allows traders to keep 80% of the profits they generate, while the remaining 20% goes to E8 Funding. Profit payouts are available from the 8th day of cooperation. The trading challenge in each account type has specific profit targets and time limits to be met, followed by standard drawdown limits of 8% overall and 5% daily.
There is no E8Funding demo account available, which is normal because this isn’t a typical broker but a prop firm. The E8 Funding free trial period is unavailable.
Having issues with withdrawing funds from E8 Funding? We can help you recover your funds.
E8 Funding provides its traders with access to the popular and widely used trading platforms MetaTrader 4 (E8 Funding mt4) and MetaTrader 5, including their E8 Funding app for mobile phones. You can find the E8 Funding mt4 download link on the company’s website.
MT4 is a renowned and highly regarded trading platform in the financial industry. It is known for its user-friendly interface, advanced charting tools, technical indicators, and Expert Advisors (EAs) that allow for automated trading. MT4 is suitable for traders of all experience levels and offers a comprehensive range of features to facilitate efficient and effective trading.
MT5 is the successor to MT4 and is an upgraded version of the platform. It retains many of the features of MT4 but offers additional capabilities, making it suitable for more complex trading strategies.
Both MT4 and MT5 support multiple chart types, timeframes, and order types, giving traders the flexibility to analyze markets and execute trades based on their preferred strategies. These platforms are known for their stability, reliability, and high level of customization, making them popular choices among traders worldwide.
However, you must stay vigilant when using these platforms. Although the company has great reviews, you cannot forget about the complaints about the platforms being rigged. Remember, E8 Funding is not regulated, just like invcenter, which turned out to be a scam.
Leverage and E8 Funding spreads
The higher the E8 Funding leverage, the more significant the position size relative to the trader’s account balance. E8 Funding offers different maximum leverage ratios depending on the asset class.
For instance, traders have access to leverage of up to 1:100 when trading E8 Funding forex major currency pairs. For exotic pairs, commodities, and indices – the maximum leverage is 1:50. For cryptocurrencies, the maximum leverage is 1:5.
This is notably lower than the leverage available for traditional forex pairs, reflecting the higher volatility and risk associated with trading cryptocurrencies. Still, high leverage is a double-edged sword and can easily tilt toward the losing end. As for the spreads, i.e. E8 Funding prices per trade, users have complained about getting an extremely wide spread ratio for GOLD.
E8 Funding supports various payment methods for depositing and withdrawing funds.
- Credit/debit cards (MasterCard, Visa);
- Wire transfers;
- E-wallets (PayPal, Skrill, etc.).
As for the deposits and withdrawals, they are no related fees, which is a favorable circumstance. The company’s profit split ratio is 80%/20% in favor of the trader. Withdrawal requests can only be submitted once every 14 days, which may be a problem. Traders had similar issues with fxactive.
I Lost Money To E8 Funding, What Should I Do?
To sum up, E8 Funding is an American-based proprietary company that offers traders hefty trading capital if they successfully pass the evaluation process. There is no E8 Funding trial.
E8 Funding offers the MT4 and MT5 trading platforms for Forex and CFD trading. Although E8 Funding seems like a decent company, more suitable for advanced traders, be aware that the company has been receiving a lot of negative feedback and backlash lately.
If you think you’ve been scammed by this company, please book a free consultation with our team and share your experience. We can help you get your money back but you must act quickly!
If this company stole your money, contact us for help and initiate the chargeback process.
What Is E8 Funding?
E8 Funding is an American-based proprietary company that provides capital to traders who pass the evaluation process.
How Long Does It Take To Get A Payout From E8 Funding?
The first withdrawal is available eight days after traders reach the profit target and then once every two weeks.
Does E8 Funding payout?
Yes, the company does pay out profits. However, several traders have had withdrawal issues. If you’re one of them, contact us for help.
Is There an E8Funding demo account?
No, there is no demo account. The company requires traders to pass the evaluation process instead.
Who Is The CEO Of E8 Funding?
The CEO of E8 Funding is Dylan Elchami. He was born in 1992 and is a resident of the United States.
Where Is E8 Funding Based?
According to the company’s website, E8 Funding is based at 4053 Lively Ln. Dallas, TX 75220.