The 5ers Review 2023
|By: Jeremy Biberdorf||Feb 28, 2023|
In a nutshell: The 5ers (or 5%ers) is a prop firm, which means it provides funded accounts for select traders. In fact, that’s where the name comes from, as they claim to fund the top 5% of traders.
Many prop firms have less than solid reputations, but The 5ers have managed to build a strong track record. They will fund certain traders up to $4 million, and users can trade forex, metals, and indices. Like other prop firms, traders first have to prove their trading skills.
Keep reading for our comprehensive The 5ers review so you can see if it aligns with your preferences.
|$24,000 funded account|
|$40,000 funded account|
|$80,000 funded account|
|$100,000 Bootcamp account|
- Instant funding up to $20,000
- Educational resources and trading strategies provided
- Beginners can start with a demo account
- A variety of assets available for trade (currencies, metals, indices, etc.)
- Leverage options are limited to 1:6 and 1:30 (low-risk and aggressive)
- Beginner accounts have time limits
- No community live chat or support live chat
The 5ers Review 2023 | Is The 5ers Right for Me?
The 5ers is a proprietary trading firm (or “prop firm”). In other words, it provides funded accounts for investors to trade with. They then take a percentage of the profits generated by their funded accounts.
Prop firms like The 5ers may be worth exploring for traders who believe they can profitably day trade but lack access to capital. It means that bigger gains can be made, and wealth can be grown more quickly.
The 5ers may or may not be right for you depending on what you’re looking for in a prop firm. There are a lot of competitors out there, and they all have their strengths and weaknesses.
Read on to learn just how The 5ers funded accounts work as well as the site’s top features.
How Does The 5ers Work?
The 5ers is unique in that they allow any and all traders to start using a funded account right away. This is slightly different from most prop firms, as they tend to require an education and evaluation stage before providing funding.
Using The 5ers platform is pretty straightforward. Once you select your account (based on your risk tolerance and desired capital), you pay the one-time participation fee and can begin trading right away.
The 5ers uses MetaTrader 5, which is one of the most highly utilized trading platforms, particularly in the global forex community. You can access MetaTrader 5 on your desktop as well as through mobile apps (Android and iOS).
To get started with The 5ers, you begin with a Level 1 account. You need to sustain a 6-7% net profit gain for the low-risk program and 12% for the aggressive program. Once you reach the profit target, you have to keep above the max stop out limit. You must also not exceed the max leverage rate.
Once you’ve reached your target goals, you receive your initial payout and a contract to become an officially funded trading partner with The 5ers. This results in a larger, fully-funded account, as well as profit payouts each month.
You can keep growing with The 5ers by continually reaching your profit targets.
The 5ers Features
The 5ers provide many valuable features for its funded traders, including the following:
- Different options – Would-be day traders getting started with The 5ers have a variety of options. There’s Instant Funding, which means you can trade live with a funded account right away. The Bootcamp program has a low entry cost and allows you to work through 3 challenge phases to become funded with a six-figure account. Finally, you can day trade 12,000 stocks through their subsidiary, Trade the Pool.
- Various assets – With The 5ers, you can trade currency pairs (forex majors and crosses), as well as commodities and indices.
- Free trading resources – Funded traders with The 5ers receive beneficial educational resources, including courses, webinars, and market data. This allows you to learn trading psychology and keep up with the latest industry news.
- Solid support – While there’s no live chat, there are telephone numbers and an email line to receive tech support.
The 5ers Pricing & Plans
Entry costs range from 95 euros (Bootcamp program) to 745 euros for the $80,000 funded account ($20,000 instant funding).
The 5ers uses a one-time fee, and users can grow any of their accounts all the way up to $4 million.
Is The 5ers Worth It?
The 5ers may be worth considering if you’re looking for a prop firm. These firms provide funding for traders who may lack their own capital.
There are many prop firms out there, so it’s a good idea to consider a few before settling on one. After all, they all vary and each has its own strengths and weaknesses.
The 5ers has established a strong track record with a 4.8/5 rating on Trustpilot. You can rest assured that this is a legit service and not a scam.
Click here to check out The 5ers so you can see if it might be right for you.