The largest financial market is forex, where many beginning traders start. Although you don’t need a lot of capital to profit from forex trading, it is undoubtedly simpler if you have enough money to use more advanced tactics or execute larger trades. Fortunately, even if you begin forex trading with little capital, there is a method to trade big and punch above your weight.
You can receive funding up to $4 million from funded trading account firms like The 5%ers to advance your FX trading career. You might be wondering what the pros and cons of using a prop trading firm is. I have put together this review of the The 5%ers to give you all the information you need before you get started, let’s dive into the offering.
What is The 5%ers?
The 5%ers is a platform and growth programme for funded traders that supports the best forex talent and aids in their transition to full-time trading. The objective is to advance the careers of the greatest and brightest traders in the world and give them the opportunity to make more money than they would by trading currencies on their own and with small amounts of capital.
The narrative of the funded account provider starts in 2016, when two seasoned forex traders, Gil Ben Hur and Snir Achiel, established the prop trading firm. Due of a shared issue that both of the founders faced, they were unified in their opinions. They have the abilities, but lacked the resources to make large profits. They made the decision to establish a career-building platform that aids currency traders from all over the world after learning that many others have the same problem.
What had once been a little neighbourhood swiftly rose to become one of the top prop companies in the business, benefiting from consistently rising demand for its goods and services. The company currently has an office in London and its main headquarters in Israel.
By enabling skilled professional and rookie traders to earn without putting their own money at danger, the prop company has continued to support and develop both groups of traders to this point. Users of the platform can start trading with real money right away without having to meet any qualifications or put up any money themselves.
How does The 5%ers work?
Investors of various experience levels can start trading and benefit thanks to the 5%ers. The entire process, including evaluation, gives users the chance to make actual income. There are numerous accounts based on capital level and risk schemes, providing opportunity for traders of all tactics.
Simply log in, make the one-time participation fee payment, and start trading once you’ve determined which capital and risk level is suitable for you. The software is currently hosted on MetaTrader 5 (MT5) after previously being hosted on MetaTrader 4 (MT4) (MT5). Forex firms and traders from all around the world use MetaTrader 5, one of the most cutting-edge trading platforms.
How to get a Funded Account with The 5%ers?
Users are assessed through a Level 1 account in order to join The 5%ers as a fully funded prop trader. The 5%ers evaluate your trading personality using this account once you pay a one-time fee to access it. While the higher risk “aggressive” programme needs traders to maintain a net profit rate of 12%, the low-risk evaluation programme only requires traders to sustain a net profit gain of 6-7%. The Level 1 solution’s objective is to demonstrate to The 5%ers your capacity to maintain profits while lowering risk.
The following are the account’s guidelines:
- Obtain the desired profit
- Keep your stop-outs over the maximum allowed.
- Never go beyond the permitted leverage rate.
- For your trades, keep a sensible stop loss in place.
You will get your first pay-out and the trading contract for The 5%ers if you have successfully attained the Level 1 account’s set goals. This entitles you to a bigger fully funded account and monthly profit rewards as an official Funded Traders Partner. Your account will be terminated each time you hit your profit targets, and you’ll be given a new Funded Forex Account with more capital and new profit targets.
The 5%ers Funded Account Options
Everyone may jumpstart their professional career at cheap pricing with ongoing guidance from seasoned experts thanks to The 5%ers’ FX funded account service.
This may seem too good to be true, but it’s not. Don’t rely on my word alone, though. To help you decide for yourself, let’s look at the funded trader’s program’s key features.
Where do Forex Traders Begin?
You must first select the package that best suits your needs. Depending on the size of your account and the amount of money you can get right away, you have different alternatives. These consist of:
- Option 1: Immediate funding of $24,000-$6,000 with a participation fee of $725.
- Option 2: Instant funding of $40,000 less $10,000 with a $450 participation fee.
- Option 3: Instant funding of $52,000 – $13,000 with a $565 participation fee.
- Option 4: Instant funding of $80,000 to $20,000 with a $875 participation fee.
There are low-risk and aggressive programme options for each account, and these options specify the profit target you should aim for. In general, the aggressive trader program’s target targets are a net profit rate of 12%, while the low-risk evaluation programme calls for a gain of 6-7%.
You will be given a Level 1 financed account after you sign up. The crew at The 5%ers will then assess your trading performance, profile, and profit target.
Accounts will be cancelled for those who achieve or above the maximum stop-out rate for the specific funded account choice.
Typically, Level 1 account holders want to demonstrate that they can guarantee reliable returns while lowering risk. Consider it as your first exam, and remember to aim for your profit target, observe the maximum loss limits, and use leverage sensibly.
If you pass it, you’ll get your first payment and a legal trading agreement.
The programme is appropriate for even complete beginners with no funds because the company covers all costs.
You just need to make a one-time payment. Its size ranges from $275 to $875 depending on the account size you select.
Now that is covered, let’s get to the catch if you’re wondering where it is. The business will keep 50% of all profits once you start to make money. Compared to other funded trader programmes such as Earn2Trade, for instance, this percentage is far greater.
Additionally, traders get access to one free pay-out each month. However, there will be a minimum fee of $15 or a 3% processing fee if you want to withdraw more than once.
Who can use The 5%ers?
The evaluation program’s biggest feature is that anyone with a desire to become a forex trader can take part, regardless of background.
It is very crucial that you have access to the experts at The 5%ers’ expert advice. Additionally, you can join a group of like-minded forex traders and receive valuable trading insights, risk management guidance, and educational publications.
All of this demonstrates that you shouldn’t view the risk management programme solely as a means of generating income; instead, you can also utilise it to learn about and test the currency trading market with little risk.
Features of The 5%ers Programme
The programme is run on the MetaTrader 5 trading platform, which is amongst the most widely used trading platforms in the world. Due to the abundance of free resources available, even new account holders may learn how to maximise their account’s potential. Furthermore, if at some point you decide that The 5%ers’ service is no longer relevant to you, the skills you will acquire throughout the programme will enable you to shift elsewhere.
The large selection of tradable assets offered by funded trading account offerings is another important advantage. These consist of all the major currency pairs including EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, and USD/CHF.
The website’s Trading Resources section is also worth mentioning. No matter where you are in your path, it is packed with helpful information that can be of assistance to you. For instance, there are articles with trading ideas, a blog devoted to forex, videos, a trading room, a calendar of economic forex, several workshops addressing risks, and more.
Not least among other things, we should stress the value of expert advice. There is no denying that trading is a difficult career that requires time and commitment to excel at. You may feel like giving up frequently, which is why it is crucial to have an example to look up to who has travelled the same journey as you and can hold your hand. Fortunately, the skilled experts on the The 5%ers team offer full-time traders and investors ongoing support at every stage of their journey through the financial markets.
Is The 5%ers legit?
Yes. There are numerous reasons to think the platform is authentic. It has two offices—in the UK and Israel—and complete contact details, including phone numbers, are online. It offers responsive customer service through a number of ways. Additionally, the service provider enjoys a superb web reputation.
What broker do The 5%ers use?
The service provider states that it relies on commercial liquidity providers rather than regular retail brokers but does not directly name the forex brokers it trades with. STP Market Execution is used to complete every trade.
Conclusion: is The 5%ers a good prop trading firm?
Almost anyone may benefit from the The 5%ers funded forex trader programme, from inexperienced beginners to seasoned swing traders who lack the necessary money. The only thing you should do is demonstrate your ability to trade profitably, adhere to your trading strategy, and keep consistency. If you succeed in doing that, there won’t be any restrictions and you can advance all the way up the career ladder.
However, given that The 5%ers adheres to a 50% profit share model, the company’s product may seem overpriced to more experienced traders. This could be excessive for profitable traders or market players trading in large volumes.
It is worthwhile to test the sponsored forex programme because it is good. City Traders Imperium and The Funded Trader are a couple of other prop firms I have reviewed with services that are similar if you want to compare with alternative options.
- Get instant funding
- Funding of up to $4 million
- Do not need to risk your own capital
- Good range of programmes
- Lots of trading instruments to choose from
- User-friendly MetaTrader platforms
- Lots of trading courses, webinars and workshops
- Frequent payouts and growth simultaneously
- All trading systems are welcome
- Excellent customer support
- Not the lowest audition fee
- Limited leverage options
- Time limits for Level 1 accounts
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.