Forget about fancy dashboards and flashy marketing spiels. What traders care about is in the detail: spreads, profit targets, and tradeable assets. Here is where E8 drops the ball. The spreads and commissions are some of the highest in the industry. Users have complained about not receiving payouts and a poor responsive rate from the customer support team. In fairness, there are plenty of glowing reviews too from satisfied contestants who have benefited from the platform.
The firm also drops the ball when it comes to customer support, with minimal means of contact and limited hours (most prop firms are available 24/7). E8 does not have any discord server for traders, an increasingly popular feature that connects contestants to a social community within their prop firm of choice. When it comes to the numbered issues about high spreads and commissions, however, it could be said that there is no smoke without fire!
With the above in mind, here is what we would suggest as an alternative to E8 Funding: a propriety trading firm which fills in the gaps above. Ideally you want to keep the good and add the missing features.
OspreyFX is a powerhouse broker that offers leverage of up to 1:500 to trade forex, crypto, stocks, or more. They recently launched the OspreyFX Funded Account Challenge, a chance for traders to manage $100,000 with zero risk.
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.
Founded in 2012, TopstepForex has become one of the biggest proprietary trading sites online. Topstep FX is based in the USA, but it is available for everyone to use worldwide. Traders are invited to join their "forex funded trader program," which gives them the chance to use Topstep FX's money (and gain a healthy cut of the profits), without risking their capital.