In this article, we embark on a detailed comparison between two notable proprietary trading firms, E8 Funding and The Funded Trader. Our objective is to dissect their offerings and highlight what they provide to forex traders globally.
Company Profiles
Beginning with an overview of both companies:
- Foundation: E8 Funding was established in November 2021, while The Funded Trader started in May 2021.
- Leadership: Dylan Elchami is the CEO of E8 Funding, and Angelo Ciaramello leads The Funded Trader.
- Location: E8 Funding is located in Dallas, Texas, with The Funded Trader based in Liberty Hill, Texas.
- Maximum Funding: E8 Funding offers up to $300,000, whereas The Funded Trader provides up to $600,000 to traders.
Both firms are recognized for their credibility and scalable funding options.
Funding Program Offerings
A comparative look at their funding programs:
- E8 Funding offers traders the choice of two-step and three-step evaluations.
- The Funded Trader provides a one-step evaluation and three versions of a two-step evaluation.
Now, let’s explore the specifics of their two-step evaluation processes.
Two-Step Evaluation: Detailed Comparison
Examining the trading rules and objectives of each firm:
- Profit Targets & Drawdowns: Both firms have set profit targets and drawdown limits, with The Funded Trader offering additional options with addons.
- Leverage: Leverage options vary, with E8 Funding offering 1:50 and The Funded Trader providing a range of 1:30 to 1:200.
- Minimum Trading Days: E8 Funding has no minimum trading days, whereas The Funded Trader sets varied requirements across its plans.
- Profit Split: Both firms start with an 80% profit split, with The Funded Trader offering up to 90% in certain plans.
This breakdown gives traders a clear picture of each firm’s trading conditions.
Pricing Structures for Account Sizes
A look at the pricing for various account sizes:
- Account sizes range from $5,000 to $400,000, with each firm adopting distinct pricing strategies.
- E8 Funding and The Funded Trader cater to diverse trader needs through their varied pricing models.
Brokers & Trading Platforms
Exploring the broker partnerships and trading platforms:
- E8 Funding works with Purple Trading Seychelles, while The Funded Trader collaborates with multiple brokers including Eightcap and Think Markets.
- Both firms utilize MetaTrader 4 and MetaTrader 5 platforms.
Trading Instruments Comparison
Assessing the trading instruments offered by each firm:
- Both E8 Funding and The Funded Trader provide options for trading Forex pairs, commodities, indices, and cryptocurrencies.
- E8 Funding also offers stocks, which is not available with The Funded Trader.
Community Feedback and Trust
Evaluating the community feedback based on Trustpilot reviews:
- E8 Funding holds a 4.7/5 rating from 1,376 reviews, showcasing its positive reception.
- The Funded Trader scores a 4.5/5 from a significantly higher 13,361 reviews, indicating its wide popularity.
This feedback suggests a greater reach and popularity for The Funded Trader in the trading community.
Conclusion
In summary, both E8 Funding and The Funded Trader emerge as strong contenders in the proprietary trading firm sector, each with its unique set of advantages. The comparison highlights differences in trading rules, objectives, pricing, and community feedback. Notably, E8 Funding provides a two-step and a three-step evaluation, while The Funded Trader offers a more diverse range with a one-step evaluation and three two-step evaluations. This in-depth analysis aims to assist traders in making an informed decision between these two reputable firms.
