Embarking on a detailed journey, this article offers a nuanced comparison between two leading proprietary trading firms, True Forex Funds and E8 Funding, exploring their offerings to the global forex trading community.
Company Overview
Both True Forex Funds and E8 Funding have quickly established themselves as reliable and reputable firms in the proprietary trading space. True Forex Funds, headquartered in Győr, Hungary, was incorporated in October 2021 under the leadership of CEO Richard Nagy. E8 Funding, based in Dallas, Texas, began operations in November 2021 with Dylan Elchami at the helm. True Forex Funds offers traders a chance to manage up to $400k, whereas E8 Funding caps this at $300k, both providing scaling plans with unlimited growth potential.
Funding Program Options
When it comes to funding programs, True Forex Funds provides a diverse range including three two-step evaluations and a one-step evaluation, contrasting with E8 Funding’s two-step and unique three-step evaluation programs. This variety ensures traders have multiple pathways to achieve funding.
Two-step Evaluation Comparison
- Profit Targets: Both firms set an 8% target for Phase 1 and a 5% target for Phase 2, standardizing goals for traders.
- Drawdown Limits: A daily drawdown limit of 5% is common, though overall drawdown limits vary slightly, with E8 Funding offering scalable options.
- Leverage and Minimum Trading Days: Both firms provide a 1:100 leverage for True Forex Funds and a more conservative 1:50 for E8 Funding, reflecting different risk management strategies.
- Profit Split: An 80% profit split across both firms underscores the high-reward potential for successful traders.
Pricing Structure
Examining the cost, True Forex Funds and E8 Funding structure their fees to cater to a wide range of traders, from those starting with a $10,000 account to those qualifying for higher-tiered $200,000 and $250,000 programs, respectively.
Brokers & Trading Platforms
Both firms offer access to MetaTrader 4 and MetaTrader 5 platforms, partnering with reputable brokers to ensure a reliable trading environment. True Forex Funds collaborates with a Tier-1 liquidity provider, while E8 Funding works with Purple Trading Seychelles, highlighting their commitment to offering authentic market conditions.
Trading Instruments
The availability of a broad spectrum of trading instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies, ensures traders can diversify their strategies across markets.
Community Feedback
Community trust and satisfaction are echoed in the Trustpilot ratings for both firms, with True Forex Funds slightly leading in popularity based on the number of reviews.
Conclusion
In summary, both True Forex Funds and E8 Funding present compelling opportunities for traders, with nuanced differences in their offerings, rules, pricing, and community feedback. Whether you’re drawn to the diverse evaluation options of True Forex Funds or the structured approach of E8 Funding, each firm provides a solid foundation for your proprietary trading journey.
