Are you thinking about taking on additional capital in your forex trading journey? With most traders entering the industry with lower amounts of capital and relying solely on leverage to grow accounts, prop firms can be a great way to increase your exposure within the markets and earn more from your winning trades. With that being said, you may be looking at trading with the5ers.
The 5ers offer trading capital up to $4million, making them one of the biggest potential funders in the industry. We have extensively tested this prop firm and looked at hundreds of reviews to compile a very in-depth, comprehensive review of the company. Is it legit? Let’s find out now…
Who Are The 5%ers?
The5ers are a forex prop trading firm based out of Israel. If I had to sum them up in one sentence, they fund forex traders up to just over $4,000,000 in trading capital, to traders that can pass their performance based challenge. The challenge is fairly simple and you know exactly what you have to achieve before you begin. They are looking for traders that can consistently get profitable returns in the markets, in return, should you be able to, they will fund your account and split the profits with you, keeping 50% of the profits for yourself with absolutely NO RISK.
The company was founded in 2016 by Gil Ben Our and Snir Achiel, both budding forex traders that had profitable returns but not enough capital to actually earn good money trading the markets. The idea initially started with the two traders taking on capital from family members and associates to start earning better money, until they realised that a prop firm is a great way to enable traders to scale their accounts. Unlike most brokers and prop firms in this space, 5%ers operate with complete transparency and you can read all about their journey in growing the company on their website.
This sounds like a no-brainer for budding forex traders out there, that are just held back by a lack of funds, right? It is definitely a great idea for profitable traders to take on prop firm capital but over the last few years, prop firms have been popping up all over the industry and competing with each other… So which is best for you?
Getting Funding From 5%ers
So, you want to get some funding from this company? They have 2 different challenges you can choose to take on to get your funded account, depending on what kind of trader you are. The first is the Risk Manager Program, created for traders that are extremely well disciplined. This comes with a much faster growth rate, meaning your capital will get doubled more frequently by the company. The second program is the Aggressive Trader Program which is pretty self explanatory. This challenge is for those traders with no fixed stop losses that like to take on more risk within the markets, and shoot for higher profits. Let’s break these down in more detail…
Here are the rules and information needed for the trading challenge accounts. The initial challenge will be taken on an account on the MetaTrader 4 platform, which is where your funded account will also be traded. You will be able to track your account during the challenge the whole time to ultimately decide whether you are able to pass the challenge, or if you will need to try again. Although MT4 is a very outdated program, I would recommend using it for executing trades, whilst using a more modern platform like TradingView for your charting analysis. The5ers are now offering traders MetaTrader 5 as well which is a much better platform, but still, not as good for chart analysis as something like TradingView.
The challenge serves a great purpose and I would actively encourage beginner traders to take on prop firm challenges to gain experience. Firstly, it teaches you to trade professionally, taking more serious trades with more information, more risk management and ultimately more discipline than the majority of retail forex traders. Secondly, there has to be a trading challenge so the company can fund traders with potential to earn them money. Without 5%ers making money, we wouldn’t have this opportunity to scale our accounts using their capital, so it makes complete sense why a challenge is set.
The 5%ers New $100,000 Bootcamp
The $100,000 bootcamp challenge is a new model being offered by 5%ers and it will be groundbreaking for a lot of traders. The premise is very simple, there is 3 challenge stages to complete. Most unprofitable traders are spending hundreds of dollars failing challenges, which is not sustainable. This challenge costs just £50 to enrol! Once you have passed all 3 challenges, you will pay the remaining £250 for the funded account, but by this point, you’ll be 100% certain that the funding is coming your way. You’ll have 12 months to complete the 3 stages, which allows traders to work with various different markets and even adapt your trading styles within the process.
The bootcamp challenge will save newer traders hundreds of dollars when failing a challenge. Of course, it will still cost the same as the normal funded accounts being offered – but only if you’re successful! If you fail the 3 stages, you won’t receive any funding but you’ll only be paying that initial £50.
This proves the ethics of the company. Some of the lower ranked prop firms are blatantly trying to rip off their traders, whereas The5ers is certainly not!
What Makes The5ers Different To Any Other Funding Firm?
1. Weekend Holding Of Trades
All trading firms have a great deal of perks, but 5%ers may be suited more for longer term traders, working with the daily, weekly and monthly charts. Why is this? A lot of prop firms don’t allow weekend holding of trades. This makes it nearly impossible for swing traders and even day traders to get funded in a lot of cases. The5ers allows trades to be held overnight, over market closes and weekends, making it potentially a much better option for swing traders.
2. Increased Time Duration For The Challenges
On top of the allowance to hold trades for longer, you get a much longer time allowance to actually pass the level 1 challenge with this firm. For the low risk account you are offered 180 days to pass, with 60 days for the aggressive traders. There is also slight flexibility within this time scale too, if you are slightly off the profit target coming towards the end of the time duration, they will allow you a small extension if you reach out to them directly. This makes it much easier to get funded from the company than with some of the other companies in our Top Forex Prop Firms List.
3. Huge Account Scaling Opportunity
As shown in the vide below, 5ers offers something called Hyper Growth. Essentially, they double your account balance for every milestone you hit. This makes it exponentially faster to actually grow your account to over $4,000,000 in funding. Having assisted growth is a great thing for traders that have a lower frequency of trades like swing traders, as it’s going to take a long while to double your account on our own. Although it would potentially be faster to get funding from an instant funding prop firm like MyForexFunds, the scaling opportunities make it worth trading with The5ers.
Which The5ers Account Should You Choose?
When you are signing up with the5ers, you need to think about which account you want to choose as there are a good few options.
- Your funding size, this can range between $24,000 and $80,000 initially, so it’s very important to choose carefully. The lower the original account size, the cheaper it will be to take the challenge, for example the $24,000 funding is only $275. However, your account will be doubled on every milestone so regardless of choosing the $24,000 or $80,000, you will still be able to grow capital to $4,000,000.
- All of the accounts come with a Low Risk or Aggressive Risk option. This is going to depend on your trading style and preferences within the market. I would personally recommend the higher risk option as it gives you higher account leverage of 1:30 to play with, rather than just 1:6 on the lower risk plan. On the high risk account you do need to be able to achieve a higher return of 25% to reach the next stage, rather than 10% which is potentially more achievable for some traders.
Is The5Ers Challenge Realistic?
With all of the pros of trading with a prop firm, you sometimes have to wonder, is it just too good to be true? The truth of it is that it is going to be very hard for 90% of forex traders to achieve the consistency needed to pass the challenge and get funded.
That is no reflection of the company, in fact, the 5%ers challenge is the easiest way to get a funded account I have seen to date, with such long duration, such low profit targets and no drawdown concern. However, the large majority of retail forex traders lack the discipline and consistency to get any type of profit over the long term due to their risk management.
With that being said, if you are able to consistently trade a small trading account, or be on the verge of doing so, there is no reason why The5ers account would not work for you!
As I have said many times before, trying to trade with funded capital will actually make you into a better trader. We have all been in a position where we want to take a trade which breaks our rules, right? When you have someone else’s capital on the line, you act more professionally and it really instills that discipline in you that is needed to take your trading to the next level and do this for a living.
If you’re on the fence about whether or not you could actually achieve the trading criteria required to pass The5ers challenges, there are other prop firms you may want to be thinking about instead that offer instant funding. For example, MyForexFunds and DT4X Trader offer instant funding with no challenge at all – which may suite some traders more.
The5ers Vs FTMO? Which Prop Firm Should You Choose?
The main question I get asked about The5ers is simply, is it better than FTMO? FTMO is the largest prop firm in the industry so comparing to it seems to be a fairly common interest of traders. Let’s compare some of the most common features…
1. Time To Get Funded
|FTMO||20 Day Minimum|
2. Total Amount Of Capital
3. Profit Targets
|The5Ers||6% / 12%|
4. Weekend Holding Allowed?
5. Profit Split
6. Challenge Time Duration
I think from comparing these features, we can see that FTMO is going to be more suited for traders with lower time frame strategies. You could make more money as a trader with The5ers over the long term, due to having access to the accelerated scaling plan – even though the profit split is 20% lower than with FTMO.
I’d say that if you aren’t 100% sure you can get funded, you might want to go with 5ers due to the fact you have so much longer to pass the challenge, compared to with FTMO (which doesn’t leave you too much room for error).
The5ers Reviews – What Is The Industry Saying?
One of the best ways to understand the true intentions of a company is to look at their public profile, reviews and reputation within the industry. I wouldn’t want you to just take my word for it!
Trustpilot is the most trusted customer review website in the world, which the5%ers have been using now for just over 12 months. They are ranking in the ‘Excellent’ range with over 400 reviews currently and 81% of those being absolutely perfect.
Not only a wealth of positive reviews from the customers on Trustpilot, some of YouTubes largest Forex Trading Channels are always throwing in their two cents about the company, with overwhelming positive outlooks.
Since I first published this review, there has been an influx in reviews and the company has maintained it’s ranking out of 5! This is great to see and proves that traders think there is a huge amount of value in the funding model The5%ers offer.
Do The5ers Offer Support For Traders?
Retail forex traders are renowned for liking our brokers and prop firms to offer us a bit of guidance and education every so often. I would personally recommend looking at other resources out there such as Babypips or ForexPeaceArmy, however, it’s handy to know that this company do offer trading help to newer traders.
They have a range of articles covering everything from how to trade pivot points, to trading psychology and risk management. This is along side a forex economic calendar, detailing all of the relevant high impact events that may move the financial markets over the coming weeks.
There is a community feel with the traders funded by 5%ers, with forex traders all working together on analysis, opportunities and execution. This is lovely to see and there is now even a daily trading room alongside real time notifications to allow traders in the community to capitalise on the markets moves.
Trading The5ers Alongside Other Prop Firms
For traders that are consistently profitable and constantly hitting milestones, trading other prop firm accounts alongside your 5%ers account could be a great way to scale up your capital. In fact, having 5%ers in your portfolio of funded accounts should be a staple as the rules are so relaxed, along with the very lenient time durations of the challenges.
Pairing some of the industry leading prop firms could look something like this:
By utilising a trade copier, you can replicate your trades from a master/main account, to all of the copier accounts instantly meaning you can rapidly grow your funded account capital by trading multiple accounts simultaneously. If you’re a profitable trader and serious about scaling, I would certainly have a think about taking on multiple challenges at once and use a trade copier to facilitate this.
Conclusion – Is The 5ers A SCAM?
In a final few words, if you are looking for an opportunity to scale your trading capital vastly and quickly through a legitimate, reputable company, the5ers are the company for you. Over the last few years they have built an amazing reputation within the industry for paying traders, honouring their word, providing the best chance of getting funded and scaling accounts for their traders.
Just because this is a legitimate company doesn’t mean it’s going to be easy for you to pass their challenges, by any means. Being a profitable forex trader is no joke and the majority of traders will never even get close to the levels of consistency needed to achieve this. However, if you want to take your trading seriously, give this challenge a go! If you’re already trading to a high standard I would recommend one of the $80,000 trading challenges, or one of the lower values if you are only just finding consistency.
If you’re trading the lower time frames, I would recommend that FTMO is a better prop firm to be trading with. Likewise, if you get a high frequency of trades, going with an instant funding company like DT4X Trader maybe a better option. However, for swing traders and position traders, this is the funding option for you.
If you are working with the 5%ers and have any comments, please do drop them below, I would love to hear your feedback.