E8 Funding vs Glow Node

E8 Funding Overview

E8 Funding presents as a prop firm offering significant flexibility and support for traders. With an impressive Trustpilot rating of 4.7 out of 5, E8 Funding assures its potential traders with a sense of reliability. Standout features such as the free trial and unlimited retries offer traders the chance to experiment and find their rhythm without the concern of immediate financial repercussions. The maximum account size on the ELEV8 program is a generous $1,000,000 with an 80% profit share and convenient bi-weekly payouts, which is quite appealing for traders looking to scale up. Moreover, E8 Funding provides the freedom to hold positions overnight and during the weekend, which alongside the permission to trade during news releases gives traders the autonomy to employ diverse strategies. A high leverage of 1:100 paired with balance-based drawdown calculation is also on offer, broadening the appeal for risk-tolerant traders. Furthermore, the absence of a minimum trading day requirement and a broad array of trading instruments enhance the trading experience.

Glow Node Overview

Glow Node emerges as a contender with its own set of advantageous features for traders seeking prop firm backing. With an almost parallel Trustpilot rating of 4.6 out of 5, caution and confidence seem to be the twin pillars of its reputation. The firm promises a funding potential up to $1,000,000 and a scalable profit split that can reach up to 90%, which is slightly higher than what E8 Funding offers. Glow Node too allows no minimum trading days and the flexibilities of overnight and weekend holding. An interesting twist, however, is the allowance for weekend cryptocurrency trading, potentially giving it a slight edge for digital currency enthusiasts. Traders would appreciate the instant funding option, although it comes with a high priced one-time fee, suggesting a higher barrier to entry when compared to the first firm.

Comparing Trading Conditions and Costs

When assessing the fine print, E8 Funding's rules indicate a maximum of 5% daily drawdown, which might be a sour point for some as it implies a stringent daily risk cap. Another drawback is the report of slippage issues alongside high commission costs, which could eat into a trader's profits. In contrast, Glow Node restricts traders with a low leverage of 1:30 across all programs. This may limit aggressive traders but could potentially reduce risks associated with over-leveraging. Also, the substantial one-time fee for instant funding could dissuade those with limited starting capital.

Payment Methods and Withdrawals

When it comes to capital flow, E8 Funding offers deposit methods via credit/debit cards and cryptocurrencies, which might be favored by those seeking quick and modern transaction methods. Glow Node, on the other hand, relies on traditional bank wire transfers as well as credit/debit cards which could appeal to those more comfortable with conventional banking. Both firms employ Deel for withdrawals, suggesting a streamlined and potentially efficient process for accessing funds. This common ground may simplify the decision-making process for traders considering the two options.

Account Options and Trading Instruments

E8 Funding offers a variety of account sizes from $25,000 to $1,000,000, which caters to both new and seasoned traders with different capital requirements. The availability of multiple account currencies (EUR, GBP, USD) further extends its global appeal. Glow Node's account sizes are listed in USD without specific thresholds, which gives an impression of customizability. Both firms offer a wide range of tradeable instruments including commodities, cryptocurrencies, forex, indices, and metals, checking off most traders' preferences.

Firm Background and Stability

E8 Funding was incorporated in November 2021 and has already established a solid foundation within the trading community. Glow Node is slightly newer, stepping into the scene in April 2022, and could represent a fresh but less tested alternative.

Final Thoughts

Both E8 Funding and Glow Node come with distinct pros and cons, underlining the importance of personal strategy and preferences in choosing a prop firm. Where E8 Funding shines in terms of higher leverage and no minimum trading days, Glow Node competes with its scalable profit split and the allowance of crypto trading over the weekend. Prospective retail traders and users would stand to benefit from carefully weighing these factors in the context of their individual trading style and risk tolerance.