Every trader has faced one primary challenge in their life: getting capital to start their business. That has seen many funding firms rising to fulfill this urgent need. However, many traders have also fallen prey to schemes of scams. The5ers is one of these few companies that have consistently offered traders what they promised. If you are wondering if all you’ve heard about The5ers funded account is true or false, this article is for you.
What is The5ers?
The5ers Proprietary Trading Fund is a unique trading career program for forex traders. They offer generous profit splits and trading loss waivers. In addition, the fund provides fully funded trading accounts and has made it possible for many traders to focus on their trading instead of the cost of trading.
The company is eying traders who can constantly get achievable profits in their business. If your business can manage the challenge, the company funds your account. The deal is that you have to split your earnings with them. So you get to keep 50% with no risk.
The5ers had its beginnings in 2016 when traders Gill Ben Hur and Snir Achiel thought of a way to confront every trader’s big challenge: getting capital to jumpstart or boost their businesses. The solution was creating a prop firm that would help scale trader’s accounts.
How The5ers Funded Account Works
The5ers guarantee that investors of all levels can start trading and make profits. Users are given a chance to make money at every step of the process, from evaluating to trading. You have different accounts to choose from. These depend on the investment level and risk schemes, which offer a safe space for everyone.
Once you have chosen the right capital and risk level for your account, login and pay to get started. MetaTrader 5 (MT5) now hosts the program. It is a professional trading platform that is used by both forex traders and brokers globally.
How Much The5ers Cost
The amount you will have to pay depends on the account you select. The type of account you choose will depend on how much capital you need. To open the account, you will have to issue a one-time participation charge. For the $24,000 account, it is $275; for the $80,000 account, it is $875.
The5ers Funded Account Programs
If you would like to receive funding from The5ers, you have two challenges to select to get your 5%ers funded account. But this also depends on the type of trade you are doing. The two challenges are;
The Risk Manager Program
The5ers’ risk management program is for traders who exercise a lot of discipline in their business. These traders only take minimum risks, and they trade in business-friendly environments. In this program, your funded account gains a 6% profit target. It also has a 4% maximum loss allowed. The stop loss is mandatory. In addition, there is a possibility of your account doubling on 10% growth.
Check out the table below to better understand the low-risk program and the package it comes with.
The Aggressive Trader Program
The aggressive trader program is for freestyle traders. These traders take a lot of risks in the markets and also gain higher profits. The5ers has set rules for these traders.
They offer top-of-the-class leverage trading with up to 30:1 and with no compulsory stop loss. To be eligible for this program, the trader must make a 12% net profit for a level 1 funded account. But, traders need to get a 25% profit to double their accounts for higher program levels.
The program comes with other benefits which you need to know. Look at the table below for detailed information.
Why Choose The5ers
As discussed earlier, there are many funding firms today with great offers for everyone in need. So what makes The5ers funded account stand out? Let’s have a look at the pros and cons of 5ers.
- You hold trades for longer durations. There are many perks for trading firms, but 5ers may be more suited for longer-term traders. Traders who work with charts in the daily, weekly, and monthly charts may find 5ers to be a good fit.
Trading, or at least the opportunity to trade, shouldn’t be limited by the hours of the day. Swing traders and day traders alike should have more flexibility when they need to get new trades on. Fortunately, The5ers has an alternative that lets you hold trades overnight, on weekends, and over-market closes. It’s an excellent option for swing traders in particular because it makes them able to keep up with the market when it is open.
- More time for challenges. You have a little more time to cross the level 1 challenge. With the low-risk account, you are allowed 180 days to pass the level 1 challenge, and with the aggressive traders, you have 60 days.
There are some days where you are just a little off the profit target. That is an easy fix if you notify them in advance to extend the period. That is helpful when asking for funding from the company. It also makes it much easier to work with them, rather than other companies.
- The5ers offer a unique and rare service, Hyper-Growth. If you hit milestones, this program will double your balance. Why is that important? It’s exponentially faster to grow your account. In other words, it’s a way for those with a bit of luck and a lot of determination to make their account balance huge.
- In The5ers (The-Five-Percenters), you have limited leverage options. For example, if you’re a low-risk trader, you can only use a 1:6 leverage option, while high-risk traders can trade with a 1:30 leverage.