The 5ers is considered by many to be the best prop firm with no evaluation. They provide funded trading accounts for select traders, specifically the top 5% (hence the name!). If you’re one of the chosen few, you can receive funding up to $4 million to trade forex, metals, and indices.
Unlike some prop firms with sketchy practices, the 5ers has built a solid reputation. To get started, you first have to prove you’ve got the trading skills to pay the bills. The 5ers puts experienced traders through a simple but rigorous evaluation process to determine if they make the cut. If you do, you’ll get a funded account and the chance to earn the profit shares.
The 5ers is known for being prop trader-friendly. They don’t restrict your trading style or trading strategy as long as you stay within their risk parameters. You keep between 70-80% of the profit split, which is higher than the industry average. Here is a detailed 5ers review showing why it is the best no-evaluation prop trading firm.
Learn More About The 5ers
How Does The 5ers Work?
So, how exactly does The 5ers work? It’s actually pretty straightforward. The first step is to open an account on The 5ers platform and fund it with the required trading capital level for your chosen account level. You’ll have the choice of a Level 1, Level 2 or Level 3 account, depending on your risk tolerance and how much you want to allocate to your trading.
MetaTrader 5 is one of the most popular trading platforms, especially for forex traders. You can access it on your desktop or through mobile apps on your phone or tablet. Once your account is open and funded, you’re ready to begin analyzing the markets and executing trades.
To move up from a Level 1 account, you need to reach a 6-7% net profit for the low-risk funding program or 12% for the aggressive program. If you hit your profit target, keep your balance above the maximum stop-out level, and you’ll advance to the next account level with a higher funding amount.
As your account grows and you advance levels, you can withdraw funds at any time. The 5ers aims for a 24-hour processing time for withdrawals. Keep in mind withdrawing funds will impact your maximum stop-out level, so you’ll want to manage your money wisely.
The 5ers Key Features
The 5ers offers would-be day traders several options to get started. Through instant funding, you can trade live right away with a funded account. The Bootcamp program has a low cost to enter and lets you complete three trading challenge phases to get a six-figure funded account. Trade the Pool gives you access to 12,000 stocks to day trade.
With The 5ers, you can trade currency pairs (forex majors and crosses), commodities, and stock indices. Funded traders get helpful free resources like courses, webinars, and financial market data. While there’s no live chat support, you can call or email for tech help.
The 5ers provides successful traders valuable benefits. You have choices in how you want to day trade, whether instantly funded, going through training, or accessing a large pool of assets. You can deal in popular markets like forex, commodities, and indices.
Educational resources aid your success. Courses, webinars, and market data help you learn skills and stay on top of the forex markets. Although live support is unavailable, you can reach someone by phone or email if you have technical issues.
The 5ers Pricing & Plans
The Bootcamp trading program is The 5ers’ entry-level offering at just 95 euros. You’ll learn essential skills like how to analyze the market, find good trade setups, manage financial risk, and follow The 5ers’ trading rules. The Bootcamp is a great way to learn the basics before funding a live account.
The 5ers offers funded accounts starting at $20,000 up to $4 million. Unlike other prop trading companies that charge expensive monthly fees, The 5ers uses a one-time fee. Once you pay the fee for your account size, you can grow your account all the way up to the maximum amount.
Is The 5ers The Best No Evaluation Prop Firm
So, you’re on the hunt for a proprietary trading firm and wondering if The 5ers is the best no-evaluation option out there. As with any service, The 5ers has its pros and cons, but many skilled traders have found success using their platform.
The biggest benefit of The 5ers is that they don’t require an evaluation to get started. You can open an account and begin trading right away without going through a lengthy application process. This allows you to get up and running quickly. The 5ers also has a simple fee structure. You pay a flat monthly fee for access to their platform and trading tools. They don’t charge any commissions or performance fees.
On the downside, The 5ers may have higher minimums to get started compared to some other prop firms. You’ll need at least $10,000 to fund your account. The 5ers also has a more limited selection of instruments you can trade. retail