E8 Funding vs Funded Academy

Firm Overview

When evaluating prop firms for prospective traders, it's imperative to consider the firm's reputation, flexibility in trading styles, profit sharing schemes, and the support system offered. This comparison between E8 Funding and Funded Academy will delve into these aspects to provide a direct, unique perspective beneficial to retail traders and potential users.

Trading Conditions and Profit Sharing

E8 Funding seems to resonate well with its users, boasting a 4.7/5 Trustpilot rating. One striking feature that sets E8 Funding apart is its offer of a Free Trial and unlimited retries, lowering the barrier to entry for many traders. Their maximum funding level reaches $1,000,000 on the ELEV8 account with an 80% profit share and bi-weekly payouts, which is quite competitive. Overnight and weekend holding, as well as news trading, are permitted—a boon for traders who operate around key events or prefer holding trades over extended periods. The scaling option also allows successful traders to manage larger capital over time. On the other side, Funded Academy allocates real accounts with up to $1,000,000 in genuine capital. This may instill more confidence in traders knowing they operate with actual funds. Their profit share swings between 70% to 90%, depending on the account types, which tops what E8 Funding offers at the higher end. However, it's important to note that Funded Academy provides monthly payouts for Extended challenge accounts which might not be as attractive for traders seeking more frequent returns.

Leverage, Fees, and Restrictions

Both firms offer decent leverage options with E8 Funding providing 1:100 leverage. However, Funded Academy limits Extended challenge accounts to a much lower 1:10 leverage which might not sit well with more aggressive traders. E8 Funding users must contend with a 5% max daily drawdown, potentially high commission costs, and noted slippage issues, which can impact trading profitability and strategy implementation. Funded Academy imposes lot size restrictions, which may limit trading flexibility but could also help manage risk more effectively.

Trading Instruments and Account Offerings

Diversity in tradable instruments is key for traders seeking cross-market opportunities. E8 Funding provides an array of options, including commodities, cryptos, forex, indices, and metals. Funded Academy counters with the inclusion of stocks in its offerings. Account diversity is also critical for traders to choose a suitable capital base. E8 Funding covers a wide range of account sizes from $25,000 to $1,000,000, catered to different types of traders. Funded Academy also offers a selection denominated in USD, but more details on specific account sizes would be necessary for a full comparison.

Deposit and Withdrawal Methods

The ease of moving funds in and out of a trading account is another crucial aspect. Both firms accept credit/debit cards and cryptocurrency deposits, but Funded Academy includes Perfect Money as an additional method. For withdrawals, E8 Funding processes payments via Deel, while Funded Academy relies on crypto payouts. The withdrawal methods may be a deciding factor for traders who prefer certain payment systems over others.

Regulation and Reputation

Established in November 2021, E8 Funding is relatively newer compared to Funded Academy, which started in July 2021. Despite being younger, E8 Funding has managed to garner a stronger reputation based on its Trustpilot rating. This can indicate higher satisfaction among its users or better customer service experiences.

Final Thoughts

Both E8 Funding and Funded Academy present compelling options for proprietary funding. E8 Funding offers a well-regarded platform with generous profit sharing and flexible trading conditions but has some challenges with drawdowns and fees. In contrast, Funded Academy brings to the table real funded accounts and a high potential profit share, but with more stringent rules and leverage limitations on Extended challenge accounts. Ultimately, the choice between these two prop firms will come down to individual preference, trading style, and the importance placed on factors such as account diversity, payment flexibility, and reliability in execution.