E8 Markets Review

If proprietary trading is something you are interested in, you probably came across E8 Markets. This prop trading firm – based in Dallas, Texas, and operational since 2021 – has established itself as one of the most recognizable names in the industry. 

In this article, we will give you a clear and concise review of what E8 Markets offers, focusing specifically on the array of services and opportunities they provide for traders. Join us as we explore what makes E8 Markets stand out in the competitive trading landscape!

E8 Markets Challenge Types

The E8 portfolio includes three types of challenges: two-phase, three-phase, and Custom, with diverse entry costs and conditions. Let’s dive into E8 Markets challenge types in detail:

E8 Account

The E8 Account challenge involves two phases to qualify for a prop trading funded account. Traders can choose between Euro, Dollar, and Pound denominations with four account sizes. The maximum total funds available per account is $200,000.

Phase one requires an 8% profit with, daily drawdown up to 4%, overall drawdown up to 8%. There are also no limits regarding the maximum number of trading days, but the minimum number of trading days is 1.

Phase two softens the profit requirement to 4% but maintains the drawdown limits. Notably, E8 Markets sweetens the deal for newcomers with a 5% payout bonus on the first withdrawal after 8 days, followed by the possibility of bi-weekly withdrawals under an 80/20 profit split. The overall drawdown allowance increases by 1% after each withdrawal, up to 14%.

E8 Track

For those seeking a bit more rigor, the E8 Track Challenge encompasses three phases before granting a funded account, maintaining the same financial terms as the E8 Account Challenge.

This challenge type keeps the initial 8% profit goal and daily drawdown up to 4% but extends the challenge over three phases, each requiring a 4% profit to advance.

This track maintains the appealing 5% initial payout bonus and the 80/20 profit split, alongside the adjustable overall drawdown post-withdrawal.

E8 Custom Evolution Challenges

E8 Markets also offers more tailored options through its Custom Evolution Challenges, available in both two-phase and three-phase formats. These challenges allow traders to select from a wider range of account sizes ($5,000 to $200,000) and set personalized profit and drawdown targets ranging from 6-14% for profit and 3-7% for drawdowns. 

The flexibility extends to the profit split in the funded account phase, offering a range between 40/60 and 95/5, depending on the trader’s performance and choices. The Custom Evolution Challenges also provide the 5% first payout bonus, with withdrawals available every two weeks.

E8 Markets Scaling Plan

The E8 platform offers a Drawdown Scaling Plan, which allows traders to increase their prop trading account balance and the total size of maximum losses (drawdown) each time they achieve profits through the scaling program. Below is a step-by-step description of this plan:

• Step 1: A trader has the opportunity to request a withdrawal of their profits once the conditions set by the E8 Markets center are met.
• Step 2: Upon making such a request, the trader receives 80% of their profits within 8 days, and subsequent withdrawals every two weeks.
• Step 3: The E8 platform retains the funds the trader has earned in their account, allowing them to continue trading using the increased balance.
• Step 4: Each time positive trading results are achieved, the level of maximum losses (drawdown) is increased by an additional 1% until reaching a total maximum loss level of 14%.

E8 Markets Trading Conditions

E8 Markets secures its market access through a top liquidity provider – Virtual Markets, a fin-tech brokerage specializing in B2B services and paper trading accounts, which provides the technical infrastructure for platforms and data channels.

This partnership allows E8 to offer competitive spreads. However, our internal analysis reveals that the cost-effectiveness of the E8 Custom Account Challenge might be considered below average, primarily due to the high costs relative to potential drawdowns.

Leverage

When trading with E8 Markets, traders are offered the following leverage options, enhancing their trading potential:

• Major currencies: up to 1:50
• Exotic currencies: up to 1:50
• Commodities and indices: up to 1:50
• Cryptocurrencies: up to 1:5

Deposits

Payment methods are diverse and user-friendly, with E8 accepting major credit and bank cards, including Mastercard, Visa, and Discover, along with a wide range of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dogecoin, ApeCoin, and many others.

Platforms

The company utilizes the MatchTrader platform, known for its average spread values across various instruments, providing a reliable trading environment.

E8 Markets Client Reviews & UX Rating

E8 Markets secures a respectable overall rating of 4.7 out of 5, based on average ratings from three different review platforms: Trustpilot, Trustindex, and Reviews.io. This high score indicates strong customer satisfaction across several aspects, including customer support and financial transactions.

However, the rating also reflects some areas needing attention. Challenges include occasional issues with payouts and the need for more transparent communication, technical glitches, and some inconsistency in service quality. Moreover, with a response rate of 37% to negative reviews, there’s notable room for improvement in how E8 Markets engages with customer feedback.

The E8 Markets website effectively outlines its trading program and opportunities, but the trading platform could use enhancements for a more intuitive experience and advanced trading features. Clearer explanations of programs and more direct CTA’s could improve user interaction. Adding user feedback mechanisms and interactive features would also make the site more engaging and informative.

Summary

E8 Markets shines as a reputable company in the proprietary trading world. Since its debut in 2021, the firm has quickly climbed the ranks, earning a robust overall rating across platforms like Trustpilot, Trustindex, and Reviews.io.

Despite some imperfections, E8 Markets shows a commitment to improvement. Their approach to trading focused on flexibility and support, positions E8 Markets as a trustworthy and forward-looking firm in the competitive prop trading landscape.