E8 Funding vs Fidelcrest

E8 Funding Overview

E8 Funding emerges as an innovative prop firm offering a myriad of benefits designed to cater to both new and experienced traders. With a high Trustpilot rating of 4.7/5, which signifies considerable trader satisfaction, the firm allows participants to start with a free trial and provides unlimited retries, which is a generous approach for traders finding their footing. The top-tier program, ELEV8, boasts a ceiling of a $1,000,000 account with an attractive 80% profit share and bi-weekly payouts that can enhance trader liquidity. The firm's flexible trading conditions are also an advantage, allowing for overnight and weekend holding, as well as news trading—practices often restricted by other firms. Adding to the allure are a 1:100 leverage, which although not the highest in the industry, is reasonable, with balance-based drawdown. E8 Funding supports a broad range of trading instruments and eliminates minimum trading day requirements, further enhancing its appeal by catering to various trading strategies.

Fidelcrest Overview

Fidelcrest marks its presence with a strong Trustpilot rating of 4.6/5 and matches its competitor by offering endless free evaluation reattempts. The firm sets itself apart with its in-house developed technology, Fidelcrest Markets, which promises zero fees and authentic spreads—a notable edge for any serious trader focusing on cost efficiency. The firm boasts a comprehensive multilingual customer service, ensuring a wide range of traders can access support in their preferred language. Like E8, Fidelcrest is flexible in its trading approach, allowing for overnight positions and trading during news events. One striking feature is the maximum leverage of 1:200, which can exponentially increase the profit potential (albeit with a corresponding increase in risk). Fidelcrest also offers a maximum capital increase to a lofty $2,000,000 for traders who prove their mettle.

Comparing Pros and Cons

E8 Funding, while generously allowing unlimited retries and high profit sharing, faces criticism due to a 5% max daily drawdown, which could be a constraint for aggressive traders. Additionally, issues with slippage and high commission costs could eat into profits and may deter traders who are cost-sensitive or employ strategies vulnerable to slippage. Fidelcrest, in contrast, presents a more technologically advanced proposition and entices with potential account sizes double that of E8. However, the profit goals for Aggressive accounts ranging from 15% to 20% might set a high bar for traders, necessitating a more rigorous trading strategy to reach payout thresholds.

Rules and Regulations

Both firms impose rules on trading activity to manage risk, such as maximum daily loss and loss limits. However, E8 Funding includes third-party risks in their policy and allows for a certain non-traditional trading methods, which could be a double-edged sword depending on individual trading styles. Fidelcrest's rulebook contains unique points like the prohibition of the Martingale strategy and the presence of a Risk Desk Team, hinting at a tighter risk management protocol. The limitations placed by this firm could sway the opinions of traders who prefer fewer stringent controls, but for the risk-averse, these may be reassuring features.

Funding and Withdrawals

In terms of capital flow, both companies offer modern transaction methods, including cryptocurrencies, which makes them accessible to a global market. E8's funding options are slightly more limited compared to Fidelcrest's that includes bank wire transfers. Withdrawals, too, reflect a similar pattern; however, the introduction of Deel by both firms as a withdrawal method is a nod to their commitment to catering to international traders with flexible withdrawal options.

Account Offerings and Tradeable Instruments

The range of account sizes at E8 Funding is diverse, yet Fidelcrest doesn’t fall behind, with their offerings being equally adaptive to varying trading capital needs. Fidelcrest edges forward by including stocks among its tradeable instruments—a factor that could attract a specific segment of traders looking for equity exposure.

Final Assessment

Ultimately, the decision between E8 Funding and Fidelcrest hinges upon individual trader preferences. E8 Funding shines with its user-friendly approach and considerable profit-sharing, while Fidelcrest appeals to those appreciating technology sophistication and higher leverage. Given that both firms are relatively new—Fidelcrest being incorporated in September 2018 and E8 Funding in November 2021—potential adaptability and future innovations could also influence the traders' choice as both entities mature within the industry.