The5ers Review 2024 with Rankings By Dumb Little Man
Overall Rating | Overall Ranking | Trading Terminals |
4.4 | 2nd  |  |
The5ers Review
In the constantly evolving arena of financial markets, proprietary trading firms have emerged as influential participants, reshaping the approach and execution of trading. Proprietary trading, often denoted as “prop trading,” entails financial entities engaging in trading using their own capital to yield profits. These firms function autonomously, harnessing their expertise in the market, cutting-edge technologies, and inventive tactics to navigate the intricate landscape of diverse financial instruments.
One exceptional presence within this domain is The5ers, a prominent funded trading company, and growth program that stands at the forefront of empowering global Forex traders. Diverging from conventional trading environments, The5ers introduces a pioneering approach to amplify traders’ careers, propelling them toward triumph in the dynamic realm of Forex trading.
This review of The5ers will furnish pertinent insights encompassing pros and cons, client appraisals, incentives, security measures, distinctive features, and other imperative particulars concerning embarking on a journey with this Prop firm. Moreover, traders and investors will have the opportunity to unearth the firm’s limitations and imperfections, thus equipping themselves to make an informed choice when selecting an appropriate prop trading establishment.
What is The5ers?
The5ers is a proprietary trading firm that was incorporated in Israel in the year 2016. Today, it has a global presence with multiple representative offices, with the most significant one situated in the United Kingdom. This trading firm utilizes the MT5 trading platform, which enables the trade of various assets such as currencies, stocks, precious metals, and various indexes.
The5ers was established by two individuals, Gil Ben Hur, and Snir Achiel. The founders of The5ers were skilled day traders who, despite their talents, lacked the necessary capital to yield substantial returns. They recognized a market gap for a platform that could empower proficient traders to earn profits without risking their own money. This realization paved the way for the creation of The5ers.
Renowned for its funded trading, the proprietary trading firm offers an array of funding packages tailored to cater to both seasoned and novice traders. Features include practice accounts for beginners and immediate funding for more experienced traders. The5ers extends several advantages like a fast-track growth plan, complimentary educational resources, and an unrestricted timeframe to complete their programs. The firm also rewards its traders with incentives and salaries.
Moreover, the company has introduced a unique assessment system known as Level 1. This program enables participants to demonstrate their trading abilities. After making a one-time payment as a participation fee, traders are granted an account furnished with capital from the firm. Traders receive a fully funded account if they are successful in meeting the profit goals mentioned in Level 1. Additionally, they have the chance to constantly raise the capital that they trade with.
>> Also Read: Forex Trading for Beginners • Step by Step
The5ers Pros and Cons
Pros:
- The platform offers traders free funding up to a value of $6,000.
- Users have the ability to trade in various assets including currency pairs, precious metals, indices, and over 3,000 securities.
- It provides a demo account as well as a paid educational program for learning purposes.
- The standard leverage provided is 1:10, however, this can be enhanced up to 1:30.
- Traders are not restricted in their trading strategies.
- The platform equips traders with useful features such as trading tools, analytics, strategy suggestions, and an economic calendar.
Cons:
- The platform limits a trader to owning a maximum of three accounts.
- It is compulsory for traders to open positions only with a Stop-Loss order.
- Traders are unable to commence trading without first agreeing to the Terms of Service.
- There is a maximum risk level cap of 2% of the trader’s current balance.
Safety and Security of The5ers
As a private fund that operates independently of a financial institution, The5ers is subject to less regulatory oversight. In spite of this, the fund does keep a forex trading account that is managed by a licensed broker. The5ers uses a number of internet brokers concurrently in its operations, but it doesn’t reveal the names of these brokers in order to maintain privacy.
Investors with The5ers should be aware that they are not standard broker clients but rather service contractors with the fund. Compared to traditional forex brokers, this arrangement offers traders a higher level of security because they aren’t risking their own money.
However, it’s crucial to remember that because The5ers is not subject to governmental control, traders could not have all available legal safeguards. Since the corporation is not responsible for the trader’s money, traders may have few avenues for remedy if something goes wrong. In other words, even though the model has some benefits because it is unregulated, traders must fully comprehend the risks before agreeing to this arrangement.
The 5ers Bonuses and Contests
While many trading companies offer various incentives like welcome bonuses or chances to make passive money through actions like deposits or staking of cryptocurrencies, The5ers takes a different approach and doesn’t provide these typical rewards.
However, The5ers has implemented a distinctive incentive scheme. As soon as traders reach specific predetermined criteria or goals, they are eligible to receive a variety of bonuses. It should be noted that these bonuses are not monetary awards that are deposited into your bank account. These are instead given out by The5ers in the form of HUB credits.
Within The5ers’ system, these HUB credits act as a kind of internal money. These credits can be used by traders to finance upcoming program purchases from the company’s selection of funding options. This unconventional strategy encourages traders to strive for success on the site and encourages participation in The5ers’ many funding initiatives.
The5ers Customer Reviews
Customers appear to usually be pleased with The5ers. Many enjoy its business strategy, which appears to depend on profitable deals and find this method distinctive when compared to that of other companies. The business is praised for assisting traders in enhancing their mindsets and overcoming trading challenges.
They are highly valued, especially by scalpers, for the narrow spreads they provide. The online chat service is also praised for its quick and precise responses. Concerns have been raised, though, about account closures and the denial of profit-sharing withdrawals without adequate justification.
Although some problems were handled through interviews, it has been suggested that the business could do better by holding these interviews before suspending accounts. Despite these difficulties, many traders still have faith in The5ers and advise others who want to become funded traders to use it.
The5ers Commissions and Fees
The5ers‘ fee structure does not impose additional trading charges. Only the spread, whose price changes depending on the state of the market, is due from traders. The first deposit that traders make when they sign up is the only required payment.
Under normal market conditions, the spreads for popular currency pairs like EUR/USD, GBP/USD, and USD/JPY often range between 0.2 pips and 0.9 pips. Additionally, traders must take into consideration a $4.5 commission rate. In addition, daily accruals and/or payments for overnight swap costs are made.
The5ers does not charge a fee to use the platform, either to deposit money or to withdraw it. The transaction procedure may involve third parties, such as banks, e-wallets, and other payment systems, who may charge fees. Traders should be aware of this possibility.
The5ers takes pride in its openness and makes sure that all fees are completely disclosed to the trader before the transaction’s execution. The trader can then make well-informed choices concerning their trading and account management.
The5ers Account Types
The5ers‘ account options are designed taking into account both capital and risk factors. After successfully completing the first layer, the trader’s capital is increased fourfold. Each step after that requires twice the capital. The risk frameworks are carefully constructed to support investors using a variety of schemes:
Risk Manager Scheme
This program, designed for traders drawn to lower-risk trading methods, requires that the funded forex account make a net profit gain of 6% at the first level, with a maximum loss allowed of 4%. Leverage of up to 1:6 is permitted, and a mandatory stop loss is enforced by the software. A 10% profit target is necessary to move on to further stages. There are no time restrictions for active traders to attain their targets after the first level, which requires traders to reach their profit goal within 180 calendar days.
Aggressive Trader Scheme
This plan, which targets traders using higher-risk techniques and looking for a larger challenge, requires a net profit of 12% at the first level and 25% for succeeding levels. There is no mandatory stop-loss requirement, and leverage up to 1:30 is available. This program’s initial level mandates that traders reach their profit goal within 60 calendar days.
>> Also Read: 8 Ways to Become a Successful Day Trader
Opening a The5ers Account
To initiate and set up your account with The5ers, follow these enumerated steps:
- Start by navigating to the main page of The5ers website. You will find a “Quick Start” button positioned at the top right corner of the screen.
- Hover your mouse over this button, which will then reveal a drop-down menu. From this menu, choose the funding option that best suits your interests and trading goals.
- Proceed to set up a password for your account. Fill in your first and last names, and specify the country of your residence.
- Next, provide your email address for communication purposes. It’s also recommended, though not mandatory, to include a contact phone number. Additionally, input your residential address along with the postal code. You’ll be asked to briefly describe how you came to know about The5ers prop trading company.
- Take the time to read the user agreement, risk notifications, and any other documents provided via the link. Upon understanding and agreeing with the company’s terms and conditions, check the boxes to confirm your agreement.
- To make a deposit, you’ll need to enter your bank card details or opt for another deposit method available. If you wish to use the same payment method for future transactions, you can choose to save it by checking the respective box.
- Click on “Proceed” and follow the instructions displayed on-screen. You’ll be required to deposit a sum corresponding to the fee for your chosen funding program into your account.
- Once you’ve completed the above steps, you will have your own user account on the official website of the prop trading company.
- To access your account, click on the “Log In” button located at the upper right corner of the main menu.
- Navigate to the “Trading Tools” section, from where you can download the MT5 trading platform compatible with your device.
- Input your registration details in the trading platform. With this final step, you can start your trading journey with The5ers.
The5ers Customer Support
The5ers takes pride in having a committed customer support team available to respond to any issues or questions from its customers. On Rapaport Street in the Israeli city of Kfar Saba, they have their headquarters. For the purpose of providing timely and effective customer service, the team works during set office hours. According to Greenwich Mean Time (GMT), the team is accessible from early in the morning until late in the afternoon on Sunday through Thursday. Their availability on Fridays starts early in the morning and finishes at noon GMT.
Customers can contact The5ers’ customer service department by phone or email. These channels of communication guarantee that customers have access to the help they require, whether they are having problems with their accounts or just have general inquiries regarding the trading process. It should be noted, nevertheless, that The5ers does not currently offer a live chat service.
Advantages and Disadvantages of The5ers Customer Support
Detailed Responses from the Team
Lacks 24/7 AvailabilityThe5ers Withdrawal Options
The5ers operates on a deposit basis and doesn’t offer free programs. A starting deposit for beginner traders is set at $85, while more seasoned professionals are required to deposit a minimum of $235. Upon activation of the account, the prop trading company then equips the trader with a starting capital of $6,000 or more, the final sum being dictated by the specific program chosen by the trader. This allows the client to commence trading on their own terms, employing any strategy they find suitable.
It’s important to note, however, that the rate of trading must not exceed 2% of the deposit and that all trades must be opened with a stop-loss measure. As for profit distribution, The5ers retains 50% of all earnings.
For those utilizing a fully funded account, The5ers provides a 50% share of all profits generated. Upon successful completion of the program’s first stage, your 50% profit share will be included in your new account. From the second level onwards, traders are free to withdraw their share of profits at any point via the Profit Payout button found on the dashboard.
As for the withdrawal method, amounts up to $1,000 are dispensed via PayPal, while any sum exceeding $1,000 is transferred through bank transfer via TransferWise. Traders are allotted one fee-free withdrawal each month, with any additional withdrawals incurring a minimum charge of $15 or a 3% handling fee, whichever is greater.
The5ers Challenge Difficulties
When undertaking The5ers Challenge, traders are presented with an assortment of challenges that test their skill, adaptability, and emotional resilience. Here are some common difficulties and obstacles that they might come across:
Navigating High-Profit Targets
Traders participating in The5ers Challenge may confront a significant obstacle in the form of elevated profit targets. These targets are established at a relatively high threshold, which could pose a daunting challenge for some individuals. It demands superior trading skills and a well-developed strategy to achieve these ambitious goals.
Adjusting to Stringent Risk Management
Another common stumbling block is the necessity for rigorous risk management. Traders who are not accustomed to this level of precision and control may find it arduous to adapt their trading style to conform to these stringent requirements. This could necessitate a substantial overhaul of their existing trading approach or the adoption of entirely new strategies.
Navigating Market Volatility
The inherent volatility and unpredictability of market conditions also present a major challenge. This erratic nature can complicate the endeavor of maintaining long-term profitability. Traders are tasked with the tricky job of analyzing and predicting these mercurial trends, which requires both skill and a fair bit of luck.
Managing Emotional Turmoil
Trading can be an emotionally charged process, and this can pose another significant challenge. Traders may find it difficult to manage their emotions, particularly when facing losses or when required to make tough trading decisions. This emotional turmoil can potentially affect a trader’s judgment and lead to less-than-optimal trading choices.
How to Pass The5ers’ Evaluation Process
In addition to natural trading ability, completing The5ers Evaluation Process successfully necessitates a thorough awareness of the complexities and expectations of the system. This voyage tests a trader’s capacity to control risk, place profitable transactions, and exhibit consistency. It is tough but rewarding.
Enrollment in a thorough training program is strongly advised in order to completely prepare oneself for this endeavor. A well-designed training program will provide the necessary knowledge, tactics, and methods to master the evaluation procedure. Traders greatly improve their chances of passing The5ers’ Evaluation Process and becoming funded traders by devoting time to learning and honing their trading skills.
Asia Forex Mentor – Rated Best Comprehensive Course Offering by Investopedia
Asia Forex Mentor is a leading platform that offers an exceptional forex trading education, invaluable for those attempting to pass The5ers’ evaluation process. Don’t be misled by the name; this comprehensive program is not geographically limited to Asia. It has successfully trained forex traders from all corners of the globe, earning its distinguished reputation as a top-tier provider of forex education worldwide.
Asia Forex Mentor was conceptualized and developed by Ezekiel Chew, a highly successful forex trading veteran who consistently nets six figures per trade. His vast trading experience, spanning over two decades, complements his profound understanding of the intricacies of the forex market. Ezekiel is also the founder of the Golden Eye Group and the innovative One Core Program, a proprietary training scheme specifically designed to equip forex traders with the necessary knowledge and skills to generate substantial income from forex trading.
Ezekiel’s track record of success is undeniable, and his creation, Asia Forex Mentor, is an embodiment of his commitment to sharing his wealth of knowledge and expertise with others. The origin story of Asia Forex Mentor is a testament to this dedication: the program was initially conceived in response to requests for trading lessons from Ezekiel’s close circle of friends. As the demand grew, he expanded the lessons online, creating an international platform for comprehensive forex trading education. Since then, Asia Forex Mentor has been an indomitable force in forex trading education, continuously equipping traders with the skills needed to successfully navigate and profit from the forex market.
How Could Asia Forex Mentor Help You Pass The5ers’ Challenge?
The One Core Program from Asia Forex Mentor is a complete trading training that was carefully made by the company’s founder, Ezekiel Chew. Representing more than two decades of Ezekiel’s forex trading experience, the One Core Program offers a wide array of knowledge, methods, and strategies that have proven effective in the forex trading world, as well as shedding light on techniques that have been less successful.
Asia Forex Mentor stands as a robust and credible platform that is exceptionally equipped to guide you through The5ers’ evaluation process successfully. This renowned educational platform has earned numerous accolades and praise from authoritative financial content providers, strengthening its status as a trusted source of forex trading education.
Investopedia, a leading website for financial content, recognized the comprehensive nature of Asia Forex Mentor’s One Core Program, labeling it as “as extensive as you will find.” This commendation positioned Asia Forex Mentor as the provider of the best comprehensive forex course offering, an achievement few have managed to attain.
Further cementing its reputation, Benzinga, a reliable resource for financial, business, and stock information, recently named the Asia Forex Mentor One Core Program as the best forex trading course for beginners. According to Benzinga, the course not only caters to beginners but also provides an advanced forex trading program, showcasing its versatility and holistic approach to forex trading education.
The One Core Program is not only designed for experienced traders looking to enhance their skills and strategies but also serves beginners, providing them with a solid foundation in trading. Regardless of their current level of experience, traders undertaking this program will gain invaluable knowledge and skills to aid them in successfully navigating The5ers’ evaluation process.
Asia Forex Mentor Members’ Testimonials
Testimonials from students of the Asia Forex Mentor One Core Program always talk about how much the course helped them and how it changed the way they trade. One learner said that the course helped them get through a big trading challenge, and another said that it turned around their trading job and helped them make a lot of money.
The One Core Program, which was called the “best investment” they made in their trading career, taught them everything they needed to know about trading fundamentals, technical analyses, strategies, and trading psychology. This helped them become funded traders at a reputable prop company. Another person said that the praise from Investopedia was the reason they took the course, and after they finished it, they agreed that it was well-deserved.
They liked how in-depth Ezekiel’s views were and how the course weeded out unimportant information and focused on what was important and presented it step by step. They also liked that the study could help them keep learning and get better at trading in the future.
>> Also Read: Asia Forex Mentor Review By Dumb Little Man
Conclusion: The5ers Review
An innovative funding strategy used by The5ers, a proprietary trading company, allows traders to manage a portfolio without putting their own money at risk. Through its evaluation process, the business finds skilled forex traders and helps them succeed by giving them funds and a clear plan for growth.
The5ers helps traders who want to use fair trading methods by putting a big focus on risk management and making traders follow strict rules.
Because the profit-sharing system is clear and there are no hidden fees, it is an easy and appealing choice for traders of all skill levels. No matter how much experience a trader has, The5ers gives them the help they need to succeed in the tough world of forex trading.
The5ers Review FAQs
What is the purpose of The5ers Challenge?
The primary goal of The5ers Challenge is to assess a trader’s ability in the forex market. This is an important phase for traders since they must demonstrate their ability to meet profit targets while adhering to risk management guidelines. The trader who successfully completes the Challenge receives a funded account from the corporation, allowing them to collect revenue based on their trading performance.
How does The5ers’ profit-sharing work?
Profit sharing at The5ers is based on a simple idea. When a trader achieves a profit, it is split evenly between the trader and the corporation, with each earning half. Regardless of how much money a trader manages as they go through The5ers’ stages, the profit-sharing ratio remains constant. This configuration aligns the interests of both the trader and the corporation, driving both to make profitable transactions.
Are there any hidden or additional fees with The5ers?
When it comes to costs, The5ers is completely transparent. Traders are simply required to make an initial deposit to participate in the challenge. Aside from that, there are no further trading fees or expenditures. The company ensures that traders are aware of all potential charges, including those imposed by other parties such as banks. This clarity in their cost structure helps traders avoid unforeseen charges, allowing them to plan their trading tactics with confidence.
RECOMMENDED TRADING COURSE | REVIEW | VISIT |
 | #1 Forex, Crypto and Stocks trading course. Ranked most comprehensive by Investopedia and Best by Benzinga. Free to Try! |
