Proprietary trading firms provide great opportunities for experienced traders, but you should learn their pros and cons before signing up. Traders Union experts have recently published their latest review of E8 Funding, one of the best prop firms on the market right now.
Prop trading companies have recently grown very popular, and that’s not surprising: if you manage to become a full-time funded trader, you can start making significant profits without your capital. The market is steadily growing, and even the most reputable prop firms sometimes change their conditions to adjust. Traders Union experts have analyzed E8 Funding and a variety of its most important features and conditions as of 2023.
Basic information
Founded in 2021, E8 Funding is currently one of the leading prop firms on the market. Headquartered in the US (the main office is located in Dallas, Texas), the company works with thousands of traders in most countries. There are almost no regional restrictions, and you can sign up from anywhere. But the majority of traders on the platform come from the USA itself, the UK, Nigeria, India, and Canada. Like most other proprietary trading firms, this company isn’t regulated by major financial authorities, but it’s known to be honest and reliable. The company provides different kinds of assets for trading: currency pairs, stocks, indices, and many others, including even a couple of major cryptocurrencies.
Trading conditions
Traders Union analysts have reviewed the trading conditions offered by the company and found them notably attractive. First of all, unlike most other prop firms, this company does not charge any monthly fee: you pay only the initial fee starting from $138. Depending on your account type, you can get from $25,000 to $250,000 for trading, and that sum can later be increased up to $1,000,000. The company splits profits 80/20, and that’s pretty favorable: you get to keep 80% of your earnings. You can employ leverage rates of up to 100:1 to multiply the initial deposit pretty quickly, and you can choose between MetaTrader 4 and MetaTrader 5 as your trading platform. Traders start receiving payouts after a week of successful trading, and the maximum allowed drawdown is 8%. The platform does not have any restrictions related to allowed trading strategies: for example, you can use trading bots or advisors. There is also a brief educational program that explains the basics of prop trading. However, according to Traders Union, there are almost no materials covering other aspects of trading, so you’ll have to look for them elsewhere.
To make a reasoned choice, you can familiarize yourself with the list of the best day trading firms compiled by Traders Union experts. The rating includes the best prop companies for day traders.
