Which payment methods does Eightcap Challenges offer, and what is the refund policy?

💡 Answer

Payment Methods: Credit/Debit Card (Visa, Mastercard), Crypto (USDT TRC20, USDT ERC20, BTC)

Refund Policy

Access fees are generally treated as final once the account is created and the service is delivered. Eightcap Challenges states that once you start using the services, you are not entitled to a refund of any access fees.

More FAQs about Eightcap Challenges

Guides Where Eightcap Challenges Is Featured

These guides include Eightcap Challenges alongside other prop firms, grouped by trading features, platforms, availability, and trader requirements.

Eightcap Challenges vs FundedFast vs FXIFY - Prop Firm Comparison (March 2026)

Side-by-side comparison of Eightcap Challenges vs FundedFast vs FXIFY. Quickly scan maximum funding, profit splits, risk rules, leverage, platforms, instruments, payout schedules, payment options, trading permissions and KYC restrictions to narrow down your prop trading firm shortlist. Data updated March 2026.

Eightcap Challenges vs FundedFast vs FXIFY - Prop Firm Comparison (March 2026)
Eightcap Challenges
Eightcap Challenges is a broker-backed simulated trading program operated by Eightcap International Ltd (Seychelles) that offers One Phase and Two Phase CFD challenges on mt4, mt5 and tradelocker with balance-based drawdown limits, a 14-day payout cycle, and 80% profit splits...
FundedFast
FundedFast is the trading name of Memento Enterprises Limited (Malta) and offers simulated prop-trading Challenges on MatchTrader. It provides one-phase and two-phase evaluations (10% then 5% targets on the two-phase), unlimited time limits, weekly payout requests on funded accounts via...
FXIFY
FXIFY is a broker-backed prop firm (FXIFY Markets Ltd, licensed in Labuan, Malaysia) offering One Phase, Two Phase and Three Phase evaluations, an Instant Funding path, and a 7-day Lightning Challenge, with up to 90% performance splits, on-demand payouts on...
Overview
Trustpilot Rating 4.1 3.7 4.4
Trustpilot Reviews 3,569 12 5,320
Headquarters Seychelles Malta Malaysia
Age (Years) 1 2 N/A
Max Funding $600,000 $976,562 $4,000,000
Profit Split Start 80% 80% 80%
Profit Split Max 90% 90% 90%
Platforms mt4 mt5 tradelocker Match-Trader MT4 MT5 DXtrade
Assets FX Commodities Indices Crypto US Stocks (Day Trader only) Forex Commodities Precious Metals Indices Cryptocurrencies FX Metals Indices Commodities Stocks Crypto
Leverage
FX Leverage 100 100 50
Metals Leverage 20 100 50
Crypto Leverage 3 20 1
Risk & Drawdown Rules
Max Daily Loss Maximum Daily DrawdownEightcap Challenges applies a balance-based daily drawdown rule calculated from the previous day’s account balance snapshot (Previous Day Balance × Limit%). Your account’s intraday equity loss must not exceed this daily limit.One Phase: 4% daily drawdown (Assessment and Payout Stages).Two Phase: 5% daily drawdown (Assessment, Qualification and Payout Stages).Day Trader: No daily drawdown; risk is managed via fixed maximum drawdown thresholds tied to the selected timeframe and multiplier. 5 Maximum Daily LossFXIFY's daily drawdown limits are program-specific. FXIFY provides examples showing One Phase uses a 3% daily drawdown, while Two Phase uses a 4% daily drawdown. Daily drawdown is monitored alongside max drawdown thresholds, and traders should plan withdrawals and risk so that intraday equity does not breach the daily limit.
Max Total Loss Maximum DrawdownOverall drawdown is enforced as a fixed percentage of the initial balance for standard challenges and as fixed-dollar thresholds for Day Trader Challenges.One Phase: 8% maximum drawdown (Assessment and Payout Stages).Two Phase: 10% maximum drawdown (Assessment, Qualification and Payout Stages).Day Trader: Maximum drawdown is defined in dollars and varies by timeframe and multiplier (DT-1/DT-2/DT-4/DT-8 with 2x/5x/10x options). 10 Maximum Overall LossFXIFY provides examples showing One Phase accounts use a 6% max drawdown and Two Phase accounts use a 10% max drawdown. For Three Phase, FXIFY describes a static drawdown option where max drawdown is set at 5% and remains static for the life of the account.
Drawdown Type Balance-based (Daily from previous-day balance; Max fixed from initial balance) Drawdown ModelFundedFast enforces a fixed Max Daily Loss and a fixed Max Drawdown (no trailing drawdown disclosed on its Challenges page). The daily-loss limit is presented as a percentage limit and should be treated as including floating PnL exposure (open trades) for compliance. Drawdown ModelFXIFY supports both trailing-style drawdown mechanics and an optional static drawdown mode (notably for 2-Phase and 3-Phase). FXIFY also explains that on 1- and 2-Phase accounts, when a withdrawal is requested, the max drawdown “locks” at the starting balance, meaning profit withdrawals reduce the buffer created by gains and can increase breach risk if no buffer remains.
Payouts
Payout Frequency Payout FrequencyOne Phase & Two Phase: Standard payout eligibility begins 14 days into the Payout Stage (or 7 days with the earlier-payout add-on), provided all payout-stage requirements and KYC are satisfied.Day Trader Challenges: Payout eligibility is immediate upon successful completion of the time-limited challenge. Payout FrequencyFundedFast states withdrawals can be requested once per week. To have a withdrawal processed on Monday, submit the request by 00:00 (UTC) Thursday of the previous week. Payout FrequencyInstant Funding: FXIFY states Instant Funding accounts offer payouts every 14 days. Evaluation programs (1-Phase, 2-Phase, 3-Phase): FXIFY states the first payout is instant and on demand, processed right after the trader's first live trade in the funded account.
Days to First Payout 14 0 0
Payout Processing Time Payout ProcessingPayout requests are reviewed by the risk team for rules compliance and KYC (if required). Approved payouts are typically processed within 24–48 hours of an eligible request, but may take longer if additional review is required. Payout ProcessingFundedFast indicates weekly processing, with Monday as the processing day when submitted by the stated cutoff. Exact receipt timing depends on the payment provider and is not specified on the FAQ page. 0
Payout Methods Crypto International Bank Transfer N/A Crypto Bank Transfer
Payments
Payment Methods Credit/Debit Card (Visa Mastercard) Crypto (USDT TRC20 USDT ERC20 BTC) Credit/Debit Card Bank Transfer Local Banking PIX (Brazil) Cryptocurrency Credit/Debit Card Crypto
Trading Permissions
News Trading Trading during major news events is restricted: you cannot place trades within 10 minutes before or after high-impact events (per FXStreet). Trading inside the window is treated as a soft breach that triggers a warning and removal of any profits made from those trades. Yes. FundedFast states news trading is allowed, but trades opened within 10 minutes of significant news announcements may be reviewed for compliance. Its Terms prohibit “gap trading” during significant news events (example: opening trades within five minutes of a major news announcement). News trading rules are defined by FXIFY program terms and platform rules; traders should follow FXIFY's compliance guidance and avoid any prohibited behavior, especially around extreme volatility where drawdown breaches can occur quickly.
Weekend Trades Weekend trading is allowed. The platform supports 24/7 trading, including the ability to manage positions over the weekend. Weekend holding is available via a Weekend Holding add-on at checkout. Overnight holding is allowed (swap applies at market close). FXIFY advertises the ability to hold positions over the weekend on supported programs/instruments, subject to market hours, symbol availability, and account objectives.
Copy Trading Copy trading or mirroring another person’s trades is prohibited and may result in profit removal or account termination. Copying between your own accounts is allowed only if all accounts are registered under the same email address. No. FundedFast states copy trading is not currently supported. Copy trading is allowed between your own FXIFY accounts and from FXIFY accounts to other accounts. To copy from an external account into a FXIFY account, FXIFY requires submission of the master account statement in HTML format beforehand, and copying from a third party is prohibited.
EA Allowed Expert Advisors (EAs) and indicators are permitted, but prohibited strategy types (including martingale, grid, tick trading, arbitrage variants, gap trading and account management) are monitored and can trigger violations—especially during the Payout Stage. No. FundedFast states it does not support Expert Advisors (EAs) or automated trading systems. 1
KYC & Restrictions
KYC Required No No Yes
KYC Stage Australia, Saint Lucia, Afghanistan, Central African Republic, Cuba, Democratic People’s Republic of Korea (North Korea), Democratic Republic of the Congo, Guinea-Bissau, Iran, Iraq, Lebanon, Myanmar, Russia (and Crimea, Donetsk, Luhansk and Sevastopol regions of Ukraine), Somalia, Sudan, South Sudan, Syria, Yemen, Zimbabwe, Libya KYC is required after passing and before the funded phase: ID (passport/driving license/national ID) and proof of residence (utility bill or bank statement dated within the last six months). Upload is done via the Trading Platform profile area; verification is typically within an hour, up to one business day in rare cases. KYC is required as part of FXIFY's AML/KYC compliance process before traders can fully access withdrawals/performance fees. If a trader cannot pass KYC, FXIFY's policy explains this impacts their ability to proceed under the program's compliance requirements.
Restricted Countries Australia Libya Lebanon Pakistan Russia Somalia South Sudan Sudan United States Zimbabwe Afghanistan Central African Republic Cuba Democratic Republic of the Congo Guinea-Bissau Iran Iraq Myanmar North Korea Syria Yemen Afghanistan Albania Baker Island Bajo Nuevo Bank Barbados Belarus Burkina Faso Cabo Verde China Congo (Democratic Republic) Congo (Republic) Côte d’Ivoire Eritrea Ethiopia Guam Haiti Hong Kong Howland Island Iran Iraq Jamaica Jarvis Island Johnston Atoll Jordan Kingman Reef Kyrgyzstan Lebanon Liberia Libya Malta Midway Islands Minor Outlying Islands Mongolia Mozambique Myanmar (Burma) Nicaragua North Korea Northern Mariana Islands Pakistan Palestine Palmyra Atoll Panama Puerto Rico Russia Senegal Seychelles Sierra Leone Somalia South Sudan Sudan Syria Tajikistan Turkmenistan United States United States Virgin Islands Vietnam Yemen United States Zimbabwe Iran Iraq North Korea Somalia Vietnam Burundi Central African Republic Ivory Coast Liberia Libya Sudan Cuba Syria Afghanistan Yemen Palestine Myanmar Nicaragua Congo Republic Crimea Democratic Republic of Congo Eritrea Guinea Guinea-Bissau Papua New Guinea South Sudan Vanuatu Venezuela Algeria Russia Kenya Ghana

See all Eightcap Challenges comparisons