Is This Prop Trading Firm Worth It?
If you’re a trader looking to take your trading career to the next level, then The 5ers could be the prop firm for you. As a firm that claims to fund the top 5% of traders, The 5ers offers funded accounts for select traders to trade forex, metals, and indices with up to $4 million in funding.
But not all prop firms are created equal. Some have questionable reputations, which is why we’ve taken the time to take a deep look into The 5ers.
In this The 5ers review, we’ll go over everything you need to know about The 5ers’ offerings, including their trading evaluation process, funding levels, and trading conditions.
If you’re considering trading with The 5ers, keep reading to see if it aligns with your goals.
What Is The 5ers?
The5ers is a funded trader platform and career-building program that provides funding for skilled forex traders. Launched in 2016, the company was founded by professional forex traders, Gil Ben Hur and Snir Achiel, who identified the common problem of skilled traders lacking the capital to generate significant profits.
To solve this issue, they created The5ers to provide full-time traders with readily available capital and enable them to trade real money without risking their own funds. Since its inception, The5ers has grown rapidly and become one of the top prop firms in the industry, with its headquarters in Israel and an additional office in London, UK.
The platform allows users to prove their trading skills through a Level 1 evaluation program, which includes a participation fee and a funded account from the firm’s capital. If traders successfully complete the profit targets outlined in Level 1, they receive a fully funded account and can continue to increase their trading capital.
How It Works
The process of becoming a fully-funded trader with The 5ers is relatively straightforward, with the platform allowing users to start using a funded account immediately. The platform is unique in that it doesn’t require traders to undergo an education and evaluation stage before receiving funding, unlike other prop firms.
To get started with The 5ers, traders first choose an account based on their risk tolerance and desired capital. Once they have made their selection, they pay a one-time participation fee, and they can start trading right away.
The platform uses MetaTrader 5, one of the most widely used trading platforms in the global forex community, and it can be accessed on both desktop and mobile devices (Android and iOS).
After signing up, traders begin with a Level 1 account, which evaluates their trading personality. To pass this level, traders must sustain a 6-7% gain in net profit for the low-risk program and a 12% gain for the aggressive program.
Once traders have successfully met the profit targets outlined in Level 1, they receive their first payout and a trading contract, officially making them a funded trading partner with The 5ers.
This results in a larger, fully-funded account and profit payouts each month. Traders can continue growing their account by continually reaching their profit targets.
The 5ers provides several account types based on capital and risk. The risk schemes accommodate investors with different strategies, with the Risk Manager Program designed for traders who prefer lower risk strategies, and the Aggressive Trader Program geared towards traders who use higher risk strategies. Each level has a profit target, and traders must maintain a specific net profit to advance to the next level.
The 5ers also offers different options for traders, including Instant Funding, the Bootcamp program, and the subsidiary Trade the Pool. The platform allows traders to trade currency pairs, commodities, and indices, and provides educational resources such as courses, webinars, and market data.
The 5ers Pricing & Fees
The 5ers offers a variety of pricing and plan options for traders looking to join their funded trading platform. The entry costs range from 95 euros for the Bootcamp program to 745 euros for the $80,000 funded account with $20,000 instant funding. With this one-time fee, traders have the opportunity to grow their accounts up to $4 million.
When it comes to profits and withdrawals, traders using a fully funded account with The 5ers receive a 50% share of any profits. Once a trader has successfully completed the first stage of the program, their 50% profit share will be added to the new account. Traders can withdraw their profit share at any time using the Profit Payout button on the dashboard from Level 2 and beyond.
Withdrawals up to $1,000 are issued by PayPal, while anything over $1,000 will be paid by bank transfer using TransferWise. The platform offers one fee-free payout each calendar month, and any additional withdrawals will incur a minimum charge of $15 or a 3% handling fee.The 5ers Review: Pros & Cons
- Instant funding up to $20,000
- A variety of assets available for trade including currencies, metals, and indices
- Educational resources and trading strategies provided
- Referral program to earn additional income
- MetaTrader 5 platform for advanced trading capabilities
- Limited leverage options available (1:6 for low-risk accounts and 1:30 for aggressive accounts)
- Beginner accounts have time limits
- No live chat support available for traders
- Monthly profit withdrawals may be subject to handling fees
The 5ers Alternatives
If you aren’t confident enough in your trading to jump right into a funded account, there are other options available. TopStepTrader has simulated trials on their Trading Combine, which gives traders the ability to test themselves and prove their trading prowess before gaining access to a funded account. To learn more about the Trading Combine, read this TopStepTrader Review.
Is The 5ers Right For You?
If you’re a trader looking to gain access to capital and improve your trading skills, then The 5ers may be a good fit for you. The firm provides fully funded accounts for traders, allowing them to make trades with capital they wouldn’t otherwise have access to. This is an excellent opportunity for skilled traders who don’t have the necessary capital to trade at a larger scale.
The 5ers offers a variety of programs, allowing traders to choose the one that fits their needs best. They also provide educational resources like courses, webinars, and market data, which can help traders improve their skills and stay up to date on the latest industry news.
Overall, if you’re a skilled trader looking to gain access to capital and improve your skills, The 5ers is worth considering. If you’re ready to take the next step in your trading career, Click here to sign up.