Audacity Capital vs E8 Funding

Audacity Capital Review

Audacity Capital is known for its approach to cater to the needs of serious traders who aspire to engage in the forex market with significant capital. A striking feature is the direct funding option of up to $500,000 without the need for an evaluation, empowering traders to start with a sizeable fund from the outset. This firm has established a trust score of 4.7 out of 5 on Trustpilot, attributing its success to exemplary customer service, a critical factor for many traders when choosing a prop firm. An attractive scaling plan offering unrestricted timeframe and a fixed drawdown limit of 10% adds flexibility to a trader's strategy. Moreover, this plan is further enhanced by the possibility of account doubling upon achieving a 10% profit, and a chance for a free retake along with a 14-day extension for the Ability Challenge. However, potential downsides for Audacity Capital include the lack of a free trial to test the waters before committing funds, absence of weekend holding, a 50% profit split which might be a deal-breaker for some, and ongoing monthly platform charges that can erode profits over time.

E8 Funding Review

E8 Funding has quickly made a mark in the industry, despite being a newer player, incorporated in November 2021. With a maximum account size of $1,000,000 on their ELEV8 program and an attractive 80% profit share, along with bi-weekly payouts, they offer competitive terms. Like Audacity Capital, E8 Funding enjoys a 4.7 out of 5 Trustpilot rating, and they seek to provide a welcoming experience with a free trial and unlimited retries. This prop firm allows overnight and weekend holding along with news trading, which can be particularly appealing for traders who like to take advantage of events-based volatility. E8 Funding offers a substantial 1:100 leverage and operates with a balance-based drawdown. The firm sets itself apart with no minimum trading day requirements, providing significant freedom to traders in their strategies. The tradeable instruments span commodities, crypto, forex, indices, and metals, offering a broad spectrum for diversification. However, a cap on daily drawdown at 5%, slippage issues, and high commission fees are factors that might deter some users.

Comparative Analysis

When comparing Audacity Capital and E8 Funding, what stands out is the difference in experience, with Audacity having a longer operational history since January 2014. This might inspire confidence in their stability and understanding of market needs. Audacity's policy of no weekend holding and no news trading versus E8's allowance in both these categories presents a divide in trading flexibility. The latter may attract traders looking for more opportunistic trades. Profit splits are another critical factor; Audacity's 50% split is less attractive than E8's 80%. However, E8's model may be more pressure-inducing with its 5% max daily drawdown policy, as opposed to Audacity's more lenient 10% fixed drawdown. In terms of account sizes and currencies, E8 Funding offers more flexibility with its options for EUR, GBP, and USD, whereas Audacity offers only USD accounts. Payment methods are fairly comparable with both offering modern methods like crypto, but E8 Funding uniquely offers payment through Deel, possibly streamlining withdrawal processes for some traders.

Optimal Choice for Retail Traders

The optimal choice between Audacity Capital and E8 Funding largely depends on the individual retail trader's preferences and strategy. For those looking for direct, large-scale funding without the hindrance of an evaluation phase, Audacity Capital may be more appealing. In contrast, E8 Funding could be the go-to for traders seeking higher profit shares, more leverage, and fewer restrictions on trade timings and types. Ultimately, both firms offer compelling pros and manageable cons, but the deciding factor will boil down to what aligns best with a trader's goals and trading style. It's recommended to weigh these offerings carefully against personal requirements to make the most informed decision.