E8 Funding vs Funding Pips

E8 Funding Overview

E8 Funding stands out with a strong reputation among proprietary trading firms, achieving a high Trustpilot rating of 4.7 out of 5. It attracts traders with its offering of a free trial and unlimited retries, which is relatively rare in the industry. The firm boasts a maximum funding level of $1,000,000 through its ELEV8 program, coupled with a highly competitive 80% profit share and the convenience of bi-weekly payouts. The ability to hold positions overnight and over the weekend, as well as during news releases, provides traders with the flexibility to execute diverse trading strategies without too many constraints. Additionally, E8 Funding offers a generous 1:100 leverage and employs a balance-based drawdown, which is more forgiving compared to equity-based models. E8 Funding's accounts range from $25,000 to $250,000 and support trading in various instruments, such as commodities, crypto, Forex, indices, and metals. There is an absence of minimum trading day requirements, which adds to the flexibility for traders who prefer not to be pressured by time constraints. Accounts are available in multiple currencies (EUR, GBP, USD), accommodating international traders.

Funding Pips Overview

Funding Pips is a buoyant newcomer with an incorporation date of August 2022, quickly gaining traction with a 4.7 Trustpilot rating, similar to E8 Funding. Its evaluation fees are known for being one of the industry's lowest, making it a lucrative option for new traders. Traders looking to manage substantial capital will find Funding Pips' offering attractive, with account sizes reaching up to $2,000,000 and a leverage of 1:100. The firm allows for a flexible trading approach; there is no specific time limit for trading, no minimum days required, and Funding Pips provides scaling plans that can benefit consistently profitable traders. In terms of profit sharing, the firm outshines many by offering between 80% and 90% of profits to traders, paid out weekly, which is better than the industry average. Like E8 Funding, traders have the liberty to trade during news events, overnight, and on weekends. Funding Pips' account sizes are measured in USD and encompass a range of tradable instruments comparable to E8 Funding – including commodities, crypto, Forex, indices, and metals. The firm operates on a single account currency, which can limit flexibility but simplifies the experience for traders who prefer USD.

Comparative Analysis

When assessing E8 Funding and Funding Pips head-to-head, several key differentiators emerge. E8 Funding's high commission costs and a strict 5% max daily drawdown can be contentious points for some traders, and there have been mentions of potential slippage issues. On the other hand, Funding Pips lacks live chat support, which might be a detractor for traders seeking immediate assistance, although they provide support through email and a Discord channel. Furthermore, the mandatory stop-loss rule on funded accounts can be seen as restrictive; however, it also instills a discipline that could mitigate risky trades. Both firms have their own sets of rules governing trading activities, such as profit targets and maximum loss limits, and neither allows third-party copy trading or EA risk, maintaining a level playing field for manual and algorithmic traders alike. Regarding financial transactions, both businesses facilitate deposits through credit/debit cards and cryptocurrencies and manage withdrawals via Deel, reflecting a tech-savvy approach to funding and payouts.

Final Considerations

For retail traders and potential users looking to choose between E8 Funding and Funding Pips, the decision will come down to personal preferences and trading style. E8 Funding’s seasoned presence and the promise of unlimited retries may appeal to those wary of the evaluation process. Funding Pips, despite being a newer entity, offers compelling terms with its low evaluation fees and higher potential profit share. Traders must weigh the importance of support systems, flexibility in trading strategies, and comfort with specific risk management practices before deciding which firm aligns best with their trading objectives. With both prop firms offering competitive terms, the ultimate choice hinges on a trader’s priorities when it comes to costs, support, and the specifics of risk management rules. As always, traders are advised to conduct thorough due diligence and consider all aspects of the proprietary trading firm agreements before starting their journey to ensure alignment with their individual trading goals and risk tolerance.