Last reviewed and fact-checked: September 7, 2026
CFD prop firm · Est. 2025 · MT4 / MT5 / TradeLocker / TradingView · run by the Eightcap broker group
◎ Best for
Traders who want a prop account on real broker infrastructure with MT4, MT5, TradeLocker and TradingView all available, and who value a firm that states openly which of its activities its licences do not cover.
⚠ Avoid if
You scalp fast, trade the news, or want your fee back. Eightcap Challenges prohibits news trading, enforces a 60-second minimum hold, applies a trailing drawdown, and does not refund the challenge fee at first payout.
Eightcap Challenges coupon code FT20 takes 20% off any evaluation. On the $50,000 One Phase challenge that brings the fee from about $429 to about $343. The code does not change the profit split, the drawdown rules, or the fact that the fee is not refunded.
Rating Breakdown
- Run by the Eightcap broker group, trading on its own execution rather than a white-label broker
- MT4, MT5, TradeLocker and TradingView all supported, the widest platform set in the category
- No time limit on either the One Phase or Two Phase evaluation
- Withdrawals are typically processed the same day
- Eightcap Challenges publishes its withdrawal denial rate at 1.74%, with the reasons, which almost no prop firm discloses
- States plainly that the prop products are not issued under the group regulated brokerage permissions
- Day Trader sessions start at $5, the cheapest entry point in the category
- Max drawdown is trailing, 8% on One Phase and 10% on Two Phase, so the loss limit follows equity up
- Challenge fees are not refunded at first payout, unlike most competitors at this price
- A 25-30% distribution rule applies where profit comes from a single session, and it is absent from the headline rules table
- News trading is prohibited and a 60-second minimum hold blocks fast scalping
- The 90% profit split requires a paid add-on; the standard split is 80%
- Eightcap Challenges is operated by Eightcap International Ltd in Seychelles, so the ASIC, FCA and CySEC licences held by the broker group do not cover the prop product
- Eightcap Challenges launched in July 2025 and has no Trustpilot profile of its own, so its payout record is short
- Withdrawals under $100 must be taken in cryptocurrency
Account Plans
Published pricing differs between sources for the middle tiers. Eightcap Challenges did not serve its own pricing page during this review, so treat the per tier figures above as reported and confirm on the firm site before paying.
One Phase Challenge Rules
| Evaluation type | One-step |
| Profit target | 10% |
| Daily loss limit | 4% |
| Max drawdown | 8%, reported as trailing |
| Minimum trading days | 5 |
| Time limit | None |
| Reward share | 80%, rising to 90% with a paid add-on |
Two Phase Challenge Rules
| Evaluation type | Two-step |
| Phase 1 profit target | 10% |
| Phase 2 profit target | 8% |
| Daily loss limit | 5% |
| Max drawdown | 10%, reported as trailing |
| Minimum trading days | 3 |
| Time limit | None |
| Account sizes | $5,000 to $100,000 |
Day Trader Challenge
| Product type | Fixed-odds session, not a route to a funded account |
| Session length | 1, 2, 4 or 8 hours |
| Multipliers | 2x, 5x or 10x |
| Entry from | $5 |
| Forex leverage | 1:30 |
| Payouts | Same day |
Funded Account Rules
| Profit split | 80% standard, 90% with a paid add-on |
| Max funded capital | $600,000 aggregate per trader |
| Consistency rule | 25% to 30% distribution limit where profit comes from a single session |
| Account type | Simulated evaluation, payouts on results |
| Fee refund | None. The challenge fee is not returned |
Payouts
| Processing | Typically same day |
| Methods | Bank transfer and cryptocurrency |
| Under $100 | Cryptocurrency only |
| Funding methods | Card and cryptocurrency via Coinpayments |
| Denied withdrawals | 1.74%, disclosed by the firm, for fraud, KYC refusal or gaming its systems |
Trading Conditions
| Platforms | MT4, MT5, TradeLocker, TradingView |
| Leverage | Up to 1:100, and 1:30 on Day Trader |
| Instruments | 200+ symbols across forex, indices, commodities and crypto |
| News trading | Prohibited |
| Scalping | 60 second minimum hold |
| Expert Advisors | Permitted with restrictions |
| Prohibited | Hedging across accounts, martingale, copy trading with other users |
Company
| Operator | Eightcap International Ltd (Seychelles) |
| Group | Eightcap, trading since 2015 |
| Group licences | ASIC, FCA, CySEC |
| Regulatory scope | The prop products are not issued under those permissions |
| Launched | July 2025 |
| CEO | Adam Bock |
Our Verdict
Eightcap Challenges is a CFD prop firm run by the Eightcap broker group, and that ownership is the single most useful fact about it. Most prop firms rent execution from a third-party broker, which adds a counterparty the trader never sees and cannot assess. Eightcap Challenges trades on the group’s own infrastructure, and the group has operated a brokerage since 2015 under ASIC, FCA and CySEC licences. For a trader weighing platform risk rather than marketing, that is a genuine structural difference.
The hurdle to understand before paying is the drawdown. Eightcap Challenges sets the maximum drawdown at 8% on the One Phase challenge and 10% on the Two Phase, and independent reviews describe both as trailing, meaning the limit follows account equity upward and does not fall back when equity drops. A trailing 8% against a 10% profit target leaves very little room to give back an open profit, and it is stricter than the static 10% that firms like FTMO apply on their two-step model.
The rule that catches people out is not in the headline table at all. Eightcap Challenges applies a distribution limit of 25% to 30% where profit is concentrated in a single session, which is a consistency rule in everything but name. Work out what that means for your own numbers with the consistency calculator before you assume a good week will pass review. There is a wrinkle worth knowing here: Eightcap executives publicly questioned the consistency rules prop firms impose in August 2026, while Eightcap Challenges itself applies one.
The cost side is where Eightcap Challenges is weakest. Eightcap Challenges does not refund the challenge fee, at any account size, even after a trader reaches payout. Most firms at the same price return the fee with the first payout, so the real cost of passing here is roughly a full fee higher than it looks against the field. Code FT20 takes 20% off and brings the $50,000 One Phase to about $343, which is competitive on entry price, but the fee never comes back.
Eightcap Challenges suits a trader who wants a prop account on real broker infrastructure, who trades MT4, MT5, TradeLocker or TradingView, and who holds positions for more than a minute away from news releases. Eightcap Challenges does not suit a scalper, a news trader, or anyone who treats the refunded fee as part of the deal. Traders comparing options across the category should read the CFD prop firm rankings before committing, because several firms score higher on rules and cost while giving up the broker-owned execution.
Eightcap Challenges scores 6.8 out of 10. The score is held up by the platform coverage, the same-day withdrawals and an unusual piece of honesty: Eightcap Challenges publishes its withdrawal denial rate at 1.74% and states on its own site that its prop products are not issued under the group’s regulated permissions. It is held down by the trailing drawdown, the non-refundable fee, the unpublicised distribution rule and a payout record that only starts in July 2025. Worth a first account at the smallest size, not a large one until the record is longer.
Eightcap Challenges Coupon Code
| Code | FT20 |
| Discount | 20% off any evaluation |
| $50K One Phase | About $429 becomes about $343 |
| Applies to | One Phase and Two Phase challenges |
| Does not change | Profit split, drawdown rules, or the fee refund policy |
FAQ
Is Eightcap Challenges legit?
Eightcap Challenges is operated by Eightcap International Ltd, the Seychelles company within the Eightcap broker group, which has traded since 2015 and holds ASIC, FCA and CySEC licences. Eightcap Challenges states on its own site that its prop products are not issued under those regulated permissions, so the licences cover the brokerage and not the challenges. Eightcap Challenges also publishes its withdrawal denial rate at 1.74%, listing fraud, KYC refusal and intentional gaming of its systems as the reasons, which is a level of disclosure almost no prop firm provides.
Does Eightcap Challenges refund the challenge fee?
Eightcap Challenges does not refund the challenge fee. The fee is non-refundable at every account size, including after a trader reaches the payout stage. Most competitors at the same price refund the fee with the first payout, so budget for the entry cost as a permanent expense.
Is the Eightcap Challenges drawdown trailing?
Eightcap Challenges applies an 8% maximum drawdown on the One Phase challenge and 10% on the Two Phase challenge. Independent reviews describe both as trailing, meaning the loss limit follows account equity upward and does not fall back when equity drops. The firm’s own rules pages could not be read directly during this review, so treat the trailing mechanism as reported rather than confirmed and check it before funding an account.
Can you trade news on Eightcap Challenges?
Eightcap Challenges prohibits news trading. Eightcap Challenges also enforces a 60 second minimum hold time, which blocks fast scalping, and bans hedging across accounts, martingale strategies and copy trading with other users. Expert Advisors are permitted with restrictions.
What is the Eightcap Challenges coupon code?
The Eightcap Challenges coupon code is FT20, which takes 20% off any evaluation. Applied to the $50,000 One Phase challenge, FT20 reduces the fee from about $429 to about $343. The code does not change the profit split, the drawdown rules or the fee refund policy.
Start an Eightcap Challenges evaluation
20% off with code FT20. MT4, MT5, TradeLocker and TradingView, on the Eightcap group’s own execution.
Visit Eightcap Challenges⚠ Prop trading risk
Challenge fees are money at risk. Most participants never reach a payout, and funded accounts are usually simulated capital rather than live funds. Rules and pricing can change at any time, so confirm them on the firm’s own site before you pay. Nothing in this review is financial advice.