Introduction:
Welcome to our comparison blog post, where we provide an insightful analysis of two prominent funded trading programs: TradeDay and E8 Funding. As traders who have experienced both platforms, we aim to share our observations and insights to help you make an informed decision. Let’s dive into the key aspects and features of each program.
| Prop Firm Details | E8 Funding | TradeDay |
| Year Founded | 2021 | 2020 |
| Maximum Balance | $1,000,000 | $250,000 |
| Tradeable Assets | Forex Indices Metals Commodities Stocks Crypto |
Equity Futures Forex Futures Agricultural Futures Energy Futures Metals Futures |
| Challenge Type | Two Step Evaluation | One-Step Evaluation |
| Trading Platforms | MT4 MT5 |
NinjaTrader Tradovate Jigsaw Daytradr |
| Trading Hours | Holding Overnight Holding Over Weekend |
❌ |
| Copy Trading | ❌ | ✅ |
| News Trading | ✅ | ❌ |
| EAs | ✅ | ✅ |
| Trust Pilot Rating⭐ | 4.7 / 5.0 | 4.6 / 5.0 |
| Trust Pilot Reviews | 814 | 100 |
| Payment Types | Wire Transfer Paylpal Neteller Crypto Payoneer Coinbase Revolut Wise |
Wire Transfer Paylpal |
Evaluation Process and Account Types:
Both TradeDay and E8 Funding employ evaluation processes to assess traders’ skills and determine their eligibility for funded accounts. TradeDay’s evaluation challenge focuses on fundamental trading skills, while E8 Funding tailors its evaluation process to each account type. E8 Funding offers three distinct account types, allowing traders to choose an account size that aligns with their goals and experience.
Funding and Profit Sharing:
Upon successful completion of the evaluation process, both programs provide traders with access to funded trading accounts. TradeDay offers attractive benefits, including keeping the first $10,000 in profits and receiving 90% of the profits thereafter. On the other hand, E8 Funding offers an enticing 80/20 profit split, allowing traders to retain 80% of their profits and receive a full refund of their evaluation fees.
Trading Platforms and Tools:
TradeDay provides a high-performance trading platform that is stable, fast, and accessible across various operating systems. It offers real-time market data, 24-hour market commentary, and technical analysis research from MarketChartist. E8 Funding offers access to the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their user-friendly interfaces and advanced charting tools.
Risk Management and Scaling Opportunities:
TradeDay equips traders with tools and resources to develop a profitable trading strategy, manage risks, and maintain discipline. E8 Funding implements innovative risk scaling, allowing traders to scale their overall drawdown up to 14%, striking a balance between risk and reward. Additionally, E8 Funding’s ELEV8 Account provides traders with an opportunity to scale their funded account balance to $1,000,000 or more within a year.
Support and Community:
Both TradeDay and E8 Funding recognize the importance of support and guidance for traders. TradeDay offers comprehensive support, including educational resources, mentoring sessions, daily morning meetings, live streams, and a dedicated trader development area. E8 Funding demonstrates a strong commitment to customer satisfaction by providing live customer support and a comprehensive Help Center.
Conclusion:
As traders who have experienced both TradeDay and E8 Funding, we can confidently say that both platforms offer valuable opportunities for aspiring traders. TradeDay’s funded trading program excels in its evaluation process, profit-sharing model, and comprehensive support resources. On the other hand, E8 Funding stands out with its tailored evaluation process, innovative risk scaling, and attractive profit split arrangement. Whether you choose TradeDay or E8 Funding, both platforms provide a supportive environment to hone your trading skills and achieve your financial goals.
Disclaimer: The comparison provided above is based on our experience and research as traders who have used both TradeDay and E8 Funding. We recommend conducting thorough research and considering your individual trading goals before choosing a funded trading program.
Please note that the information provided in this blog post is for informational purposes only and should not be considered as financial or investment advice. Trading in financial markets carries a high level of risk, and past performance is not indicative of future results. Always seek professional advice before making any trading or investment decisions.
