If you’re on a forex trading journey and want to get some extra capital, the chances are that you’ve considered The 5%ers. The company has been around for a few years, and it’s one of those firms you keep hearing about from other traders. Many The5ers review will tell you it is one of the largest funders in the whole forex industry, and this is all thanks to the generous trading capital they offer.
But can they truly meet your expectations? Moreover, are they legit and safe to reach out to? We’ve done our research into this company and we thought these results might interest you. Keep reading to find out if The 5ers is legit and if it’s the right choice for you.
Who Exactly Are the 5%ers?
The5ers is a forex prop trading company that was founded by Snir Achiel and Gil Ben Our back in 2016. The two were forex traders, and their experience prior to launching their firm was not the best. They weren’t getting enough capital to be able to make nice sums of money from trading, even if their returns were quite profitable.
Later, they took some capital from associates and family members, with the goal of getting more cash from their forex trading ventures. This is when the light bulb went on in their heads – they could help other forex traders scale their accounts by establishing a prop firm.
The company is based in Israel, and it can help dedicated forex traders with a trading capital of up to over $4,000,000. Now, it’s important to know that they don’t just give everyone instant funding. You have to prove a good performance first.
The 5%ers are pretty much interested in individuals with a good forex trading career, one where they get profitable returns consistently. They will then fund your account and do a profit split – they keep half of it, whereas you keep the other half. There are no risks associated with this either.
Although reaching out to a large prop firm as The 5%ers seems like the best idea for sophisticated traders, many similar companies have appeared over the years. The competition is strong. Not only that, but it’s hard to know whether a firm can be trusted or not, especially considering there are many scams out there waiting to take advantage of forex traders.
As such, forex traders in the industry may not be sure if they should become funded traders with The 5%ers.
How Do You Get Funded by The 5%ers?
The5ers offer different funding options for interested traders. You can consider their instant funding program accounts, their freestyle program accounts and even their $100k Bootcamp program account.
If you want to get instant funding, there are two challenges you can pick from, respectively:
The Aggressive Trader Program
This program is meant for traders who are willing to take more risks while trading on the markets, as well as traders without fixed stop losses. If you aren’t scared to take on some risks and want to go for higher profits, this program may be right for you.
The Risk Trader Program
As you can imagine, this is a program created for traders who are more composed. Your capital can frequently be doubled as the growth rate is much faster.
How exactly can you begin the challenge for one of these programs, though? Well, it’s simple: you’ll need the MetaTrader 4 platform. At the same time, trades can be done on other platforms, such as MetaTrader 5 and TradingView, which often work better and have improved features as compared to MT4.
You will undergo the challenge on MT4, where you can keep track of your account. In the end, you will be able to decide whether you can pass this challenge or you need a new chance.
Even if you are a beginner trader, you shouldn’t be scared to try this challenge. Losing it will not make the whole process worthless: you will gain more experience, which can definitely come in handy later during your forex trading journey.
By taking a prop company challenge like the one offered by The 5%ers, you’ll see how to deal with more serious trades and how to trade on a professional level. Also, you will learn how to manage risk and restrain yourself when necessary.
What Makes The5%ers So Unique?
There are many other prop companies out there, so why should people go with this particular funded account option and not a different one? Unless you’ve been researching the firm, chances are that you don’t know how it’s different from its competitors. Here is what makes The 5%ers unique:
Great Chance to Scale Your Account
Both experienced and beginner traders have a massive account scaling opportunity with The 5%ers. This is because the firm offers a service known as Hyper Growth.
Basically, whenever you reach a milestone, your account balance is doubled. This is beneficial, as your account funding can exceed $4,000,000 much faster.
For some traders, doubling their account can take a long time if they do it alone, without any external help. It’s especially true for those who have a lower trade frequency. The scaling opportunity provided by The5%ers can definitely save you.
You Have More Time for the Challenges
You will not lose the chance to achieve a funded account if you don’t pass the level 1 challenge immediately. What’s admirable when it comes to The 5ers is that they give you more time to pass your challenge, which means that you won’t have to rush.
Aggressive traders have 60 days to pass, whereas low-risk accounts have 180 days to pass. Sometimes, this period may even be extended – it could happen if the deadline approaches, yet you are not showing signs of reaching the profit target.
This is what puts this firm on top of the other funded trader programs.
Trades Can Be Held All the Time
Unlike other funded forex account companies, The 5%ers doesn’t prevent traders from holding trades during the weekend. Furthermore, people can even trade over market closes and during the night. If you’re a long-term trader, this can be quite beneficial.
Many similar prop companies don’t allow traders to hold trades on weekends. Unfortunately, this prevents day and swing traders to get funded, which can totally ruin the experience. With The 5%ers, you do not have to worry about this.
Should You Consider the 5%ers $100k Bootcamp Challenge?
The 5%ers offers a $100,000 Bootcamp challenge, which is a newer model. Although it can be a bit scary to make that first step, it’s something that can completely change things for traders, and in a good way.
You do not need to break the bank to join the challenge. All you need is £50. There is a total of 3 challenges, and if you are successful in all of them, you’ll only pay the remaining £250. If you fail, you won’t get the funded account, but you’ll pay just the £50 fee, without giving even more money to the company.
On top of that, you do not need to rush with this challenge. The 3-challenge stages must be completed in 12 months, so you’ll have enough time to hone your trading skills and make sure you don’t fail.
The best thing about this is that you’ll know for sure that you’ll get that funded forex account. During the 12 months, you’ll also get the chance to adjust your trading styles by working with multiple markets.
Seeing how The 5%ers don’t charge you the remaining £250 when you lose the challenge is a great thing. It proves that they care more about you being successful than about taking your money. Other companies might try to do whatever they can to rip you off.
With that in mind, the Bootcamp challenge is definitely something you should consider. There’s nothing to lose – even if you don’t make it, you are left with more trading skills that can prove useful later.
Which Account Type Is the Best?
Traders can choose from various accounts offered by The 5%ers. The good news is that you need no trading background and skills – you can simply pick a program based on your aspirations.
Every account type available is great. But what you select will influence how much you pay to participate. The price for the packages ranges between $24,000 and $80,000.
If you go for the first option, respectively the $24,000 package, you will only pay $275 to take the challenge. Meanwhile, you’ll pay $450 for the $40,000 package, $565 for the $52,000 package, and $875 for the $80,000 package.
At the same time, your account balance will be doubled whenever you hit a milestone, and this happens whether you go for cheaper or pricier packages.
You should also bear in mind that the accounts available have an Aggressive Risk or Low Risk option, which will be influenced by your own preferences and your trading style. Each alternative comes with its own leverage. The low-risk one comes with a 1:6 account leverage, while the high-risk one has 1:30. As such, the higher-risk choice is recommended if you want higher account leverage.
Is The5%ers a Legit Firm?
So, is The 5%ers legit? This is definitely a question that a lot of people have on their minds before they trust the company, despite how much of an exciting opportunity it is.
The good news is that The5ers is a legitimate company that has many satisfied customers, which can be seen from the number of positive reviews it got. On Trustpilot, they have more than 300 high ratings. It’s clear that they take this seriously and have genuine intent to help those in need.
The 5%ers is a great prop firm for all traders looking to get a funded forex trading account. Aside from having multiple account options to choose from, you also have a Bootcamp challenge where you only pay the full price of the challenge if you pass. If you fail, you pay no more than £50.
Compared to other prop firms, The 5%ers is certainly a better choice. It’s a well-established firm with excellent features, and you’re bound to have a positive experience with them.