The5ers Review and Ratings 2023Visit The5ers
Welcome to our review of The5ers, a funded trading platform and growth program that aims to help talented forex traders transition to becoming full-time professionals. In this review, we will closely examine the evaluation process, cost, and pros and cons of joining The5ers, as well as discuss whether it is a legitimate prop firm and who might benefit most from signing up. We will also touch on the customer support provided by The5ers and any other relevant factors that potential members should consider before making a decision. So, if you are interested in learning more about The5ers and whether it could be the right fit for you, read on for our comprehensive review.
What is The5ers?
The5%ers is a proprietary firm with offices in Israel and the United Kingdom. They offer various instant funding account options, including low-risk and aggressive-risk models with account sizes ranging from $6,000 to $20,000 that can be scaled up to $4,000,000. They also have a newer $100K or $250K Bootcamp challenge model with the potential to reach the same size. These accounts use MetaTrader 5 and a 3rd party program as their broker. The company is registered in the UK as FIVE PERCENT ONLINE LTD and was incorporated on April 9, 2020, by Gil Ben Hur. The UK office is located at Enstar House, 168 Praed Street, London, United Kingdom, W2 1RH.
How Does 5%ers Funding Program Work?
The 5%ers is a funding program that allows traders to start trading with real capital. There are two options for funding: the Instant Funding Program and the Bootcamp Program.
Instant Funding Program
The Instant Funding Program allows traders to choose between three account sizes: $24K, $40K, or $80K. Traders also have the option to choose between a Low-Risk Account or an Aggressive Account. Low-Risk Accounts require a stop-loss on every trade and must reach a profit target of 6% to be fully funded. Aggressive Accounts have a higher leverage but need to reach a profit target of 12% to be fully funded.
Upon signing up for the Instant Funding Program, traders receive 25% of their chosen account size as real capital. For example, if a trader chooses an $80K account and selects the Low-Risk option, they will receive $20K as real capital and need to reach a profit target of 6% to receive the full $80K. If a trader chooses the Aggressive option, they will still receive $20K as real capital but need to reach a profit target of 12% to receive the full $80K. There are no minimum trading days for reaching these profit targets, so if a trader can reach their target quickly, they will be fully funded immediately.
In addition to these requirements, traders must follow certain rules to keep their accounts active. These include maintaining their account level above the equity stop-out level, which is set at around 4% of the instant funding amount. If a trader fails to meet these requirements, their account may be terminated.
Once a trader is fully funded, they have the opportunity to continue growing their account. When a trader reaches a profit milestone (10% for Low-Risk Accounts and 25% for Aggressive Accounts), the 5%ers will double their trading capital. This process will continue up to a maximum of $4 million. The 5%ers make it easy for traders to start and grow their accounts with simple rules and a straightforward funding process.
The 5%ers Bootcamp program is a challenge where traders can prove their skills by paying a small entry fee and completing demo stages. The demo stages have a target profit of 6% and a maximum loss limit of 5%. The maximum trading period for the demo stages is 12 months. There is also an account expiration period of 21 days for inactive accounts. To participate, traders must use stop-losses and not risk more than 2% of their initial account balance. In addition, if an account has more than three violations, it will be terminated. Once traders successfully complete the demo stages, they can move on to the live trading stages and earn profits while being eligible for growth every time they reach a profit target of 5%. The live trading stages require a one-time fee and offer a profit split ranging from 50% to 100%.
Benefits of The5ers
Before deciding which prop trading firm to join, it is crucial to consider each firm's benefits. In our review of The5ers, we will focus on the pros of being a member of this community, including any advantages or benefits it provides to its traders. By carefully evaluating the benefits offered by The5ers, potential members can make an informed decision about whether this firm is the right choice for their trading needs and goals. So let's dive into the pros.
The 5%ers offer immediate access to real capital when you sign up. This means that no demo account or trading history is necessary to get started; all you need to do is fund your account and begin trading immediately. Once funded, the 5%ers will start paying out 50 percent of profits upon completing the Level 1 Account. Plus, the 5%ers have some of the fastest account scaling opportunities in the business – hit a 6% profit target while trading with a Level 1 Account, and your account size can increase four times as much as your initial balance.
No Minimum Trading Days
One of the most appealing features of The 5%ers is that there are no minimum trading days required to reach profit targets for your Level 1 Account. This ensures that traders can take advantage of quick-moving markets and jump on possible money-making opportunities without waiting for slow seasonal trends or specific market conditions.
Relaxed Trading Rules
On top of this, traders are allowed much more flexibility regarding trade duration – unlike with other prop firms, overnight positions, and news trades are allowed at The 5%ers. Also, any trading style is accepted, including swing traders and scalpers, plus Expert Advisors (EAs). Whatever strategy a trader has success with is encouraged by The 5%ers.
Trader Support Team
In addition to offering relaxed rules on trading activity and fast payouts, The 5%ers also provide a top-notch trader support team, including daily trading rooms, webinars, educational videos, and free psychology and performance coaching courses. All these resources help traders enhance their skills and maximize their chances for success even further.
Easy Profit Payouts
Lastly, when it comes time to request payment from profits earned through trading with The 5%, traders never have to jump through hoops; payments happen quickly regardless of what amount is asked for or when it's requested.
Disadvantages of The 5%ers
Before deciding which prop trading firm to join, it's important to consider each option's potential drawbacks or disadvantages. In our review of The5ers, we will discuss the potential cons or negative aspects of being a member of this community to help you make an informed decision about whether it is the right fit for you.
The 5%ers offer a 50% profit split, which is lower than what other prop firms offer. When deciding, traders should consider the trade-off between fast access to real capital and higher payouts.
Compared to most other forex brokers, the 5%ers provide only limited leverage options - 1:10 & 1:30.
4% Max Drawdown Limit
Some account types on The 5%ers have a 4% max drawdown limit which can be considered quite restrictive for certain traders and strategies.
Limited Forex Pairs
Compared to other prop firms, The 5%ers offer fewer currency pairs for traders to choose from. This could limit trading opportunities for traders who rely on more diverse strategies. Additionally, some traders may find the available spread too wide or an unfavorable currency selection given their trading goals.
How Much Does The 5%ers Cost?
The 5%ers offer three funded capital account sizes, with varying participation fees associated with each size. For example, the $24,000 level includes starter capital of $6,000 and a €235 participation fee. For the $40,000 account, users get $10,000 of instant funding and a €385 participation fee. Lastly, the $80,000 level comes with $20,000 in instant financing and a €745 participation fee.
The Bootcamp Program offers two demo accounts with varying costs. The $100K account comes with a €95 fee, and the $250K account comes with a €225 fee. For live accounts, users can expect to pay €205 for the $100K option and €350 for the $250K option.
The5ers Profit Splits and Withdrawal
Gaining access to greater profits is the dream of many traders. With this in mind, traders have now been given an incredible opportunity to do just that – through a new split-profit program with minimum risk and no fees attached.
The program is divided into two stages: the first stage is risk-free, and upon completing it, traders gain access to a 50% profit split that gets added directly to their account.
At Level 2 and higher, traders can withdraw their percentage of profits at any time via the platform's dashboard. At present, withdrawals are limited to $1,000 per month via PayPal, however, if you decide to withdraw more than that amount, you will be subject to a 3% handling fee or a minimum charge of $15, but payment will be made via TransferWise.
Overall, this split-profit program has massive potential for enthusiastic traders looking to take advantage of today's lucrative opportunities while avoiding any significant risks associated with trading. It gives them access to amazingly high returns and provides a secure option as they never have any responsibility while using it.
Who Should Sign up with The 5%ers?
The 5%ers is an excellent option for traders who are looking to get started in prop trading and are willing to invest a small amount of money to make it happen. The low fees and instant access to real capital make it an attractive option for those with limited funds. Additionally, the relaxed trading rules and fast payouts make it a great choice for traders looking for more flexibility and the chance to take advantage of quick-moving markets. Finally, the trader support team, educational materials, and profit split program make it an even more appealing option for those who want to maximize their chances for success.
Who Should Not Sign Up With The5ers?
The 5%ers may not be the best fit for traders who use higher leverage, as the maximum leverage available is 1:30. Additionally, traders looking for a higher profit split than 50% may want to look elsewhere. Finally, traders who require access to a broader range of currency pairs may find the limited selection offered by The5ers to be too restrictive.
The 5%ers have received high marks from reviewers on TrustPilot, earning an average score of 4.8/5 stars with more than 700 reviews. Most users are satisfied with the quick payouts, scaling plan, and trader support they've received. Some have voiced that the stop-out margin of 4% is too small, but overall, customers are delighted with their experience using The 5%ers program.
Additionally, the Facebook page for The5ers also receives great reviews, boasting a rating of 4.9 out of 5 stars across nearly 500 ratings.
Is The5ers Legit?
The5ers is one of the most dependable funded trader programs currently available. The 5%ers provide instant funding and accounts with no evaluation process since 2017, which has led to thousands of successful traders and payments. In addition, reviews on independent websites such as TrustPilot and Facebook reviews confirm that The5ers operates legitimately, with a 4.8/5 rating average on TrustPilot and a 4.9/5 rating across nearly 500 reviews on the Facebook page. All this makes it clear that The5ers is a safe, trusted trading platform for all users.
The5ers understands that customer support is an integral part of any business. That is why they provide a range of ways for customers to contact them. The customer support team is available via social media, email, and telephone Sunday-Thursday from 7:00 to 17:00 GMT and Friday from 7:00 to 12:00 GMT. Their friendly and knowledgeable representatives can help answer any questions customers may have. Additionally, the FAQ page may be of assistance for more general queries. However, at this time, The5ers does not offer live chat support.
The5ers Review- Conclusion
In conclusion, The5ers is a legitimate funded trading platform and growth program that greatly benefits its members. It provides traders with instant access to real capital, relaxed trading rules, fast payouts, and a profit split program with minimum risk and no fees. The 5%ers have also earned an excellent reputation in the trading community, with high ratings on independent review websites such as TrustPilot and Facebook. All of these factors make The5ers a great option for traders looking to start prop trading and are willing to invest a small amount of money to make it happen.