THE5ERS REVIEW: IS THIS PROP FIRM RIGHT FOR YOU?

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Writer : Verlie Schroeder

THE5ERS REVIEW: IS THIS PROP FIRM RIGHT FOR YOU?


💡 Prop Firm 💡

PROP FIRM




- Prop Firm - The5ers is a prop firm broker founded in 2019 that provides funded trading accounts to aspiring and experienced traders. Traders can apply for funding tiers ranging from $5,000 to $1,000,000 to trade with the firm's capital.


TOP EAS FOR YOU




📖 The5ers was founded by a team of professional traders who wanted to give others the opportunity to profit from the markets without requiring large amounts of upfront capital. The company is based in the UK and provides global services.

Some of the core offerings from The5ers include: (➕)



📖 - Funded trading accounts across various instruments like forex, futures, stocks, and crypto. Traders can get up to 10:1 leverage on their accounts.

📖 - Access to platforms like MT4/MT5 for forex and futures trading. Equities and crypto trading is also supported.

📖 - Risk management through daily stop loss limits and other controls to prevent risking all of the account capital.

📖 - Profit splits ranging from 75/25 to 90/10 in favor of the trader. There are no monthly fees to maintain accounts.

📖 - Free trading education and mentorship programs to help traders pass the evaluation and become successful with their funded account.

📖 The5ers aims to provide an avenue for traders to quickly access capital to grow their accounts and retain most of their profits. The firm vets and selects traders through an evaluation program.

Account Funding and Payout Structure (➕)



📖 Funding an account with The5ers is straightforward. Traders simply need to deposit the minimum amount required for the account level they wish to trade. The5ers offers four account levels - $500, $1,500, $3,500, and $7,000. Traders receive access to increased buying power and lower commissions as they fund a larger account.

📖 The5ers has an attractive payout structure compared to other prop firms. Once a trader crosses the profit target for their account level, they receive an 80% payout of all additional profits. There are no monthly fees or additional costs beyond the initial account funding requirement.

📖 Withdrawals can be requested as soon as a trader crosses the evaluation period profit target. The5ers pays out net profits within 24 hours of a withdrawal request when made Monday to Friday.

📖 Overall, The5ers offers very favorable account funding terms and payout structure for aspiring prop traders compared to competing prop firms. The low account minimums grant access for traders will all levels of capital. And the high payout percentages combined with no ongoing fees allows skilled traders to maximize their earning potential.

Trading Platforms and Tools (➕)



📖 The5ers offers traders access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are industry standard third-party trading platforms provided by MetaQuotes Software.

The key features of MT4 and MT5 include: (➕)



📖 - Advanced charting capabilities with multiple indicators and timeframes

- Automated trading via Expert Advisors (EAs) (➕)



- Customizable layouts and workspace (➕)



📖 - Algorithmic trading through MQL4/MQL5 programming languages

- Available for desktop, web, and mobile (➕)



📖 In addition to the standard MT4/MT5 features, The5ers provides the following proprietary tools within the platforms:

📖 - Sentiment Trader - Analyzes social media and news to generate sentiment-based trading signals

📖 - AutoChartist - Scans markets for chart patterns and trading opportunities

📖 - Trading Central - Provides daily technical analysis forecasts and trade ideas

📖 These value-added tools and technologies aim to give The5ers traders an edge when analyzing markets and identifying trading opportunities. The platforms offer flexibility for traders, with full-featured desktop applications as well as web and mobile access. The user experience is smooth and intuitive, allowing traders to efficiently execute trades from anywhere.

📖 Overall, The5ers provides institutional-grade trading platforms with robust tools for technical analysis, research, and trade execution. The MT4/MT5 ecosystem combined with proprietary technologies creates a comprehensive trading environment for traders.

Markets and Instruments Traded (➕)



📖 The5ers offers traders access to a wide range of markets and trading instruments. The main asset classes available to trade include:

- Forex - Major, minor and exotic currency pairs (➕)



- Commodities - Metals, energies, agriculturals (➕)



- Equity indices - Major global stock market indices (➕)



- Individual stocks - US, EU, Asian stocks (➕)



- Cryptocurrencies - Major coins like Bitcoin, Ethereum (➕)



📖 Some of the specific markets and instruments allowed for trading include EUR/USD, GBP/USD, USD/JPY for forex, Gold, Crude Oil for commodities, S&P 500, FTSE 100, DAX30 for indices, Apple, Tesla, Microsoft stocks and BTC/USD, ETH/USD for crypto.

📖 The5ers aims to provide traders access to global markets across different asset classes. However, there are some restrictions in place:

- Traders cannot short sell stocks or cryptos (➕)



📖 - High risk instruments like binary options are not offered

📖 - Access to exotic forex pairs only allowed on higher account tiers

📖 - Commodities limited to popular metals, energies and softs

- Equity indices focused on major countries and regions (➕)



📖 So while the range of markets is quite broad, The5ers does limit higher risk or more complex instruments based on account type and risk management policies. But overall, traders have access to all the major asset classes and liquid markets needed to implement common trading strategies.

Educational Resources and Support (➕)



📖 The5ers provides traders with a robust set of educational resources and support systems to help them succeed. This includes:

Training Programs and Courses (➕)



📖 - Intro Course - All new traders at The5ers must complete this 2-week intensive course that covers the fundamentals of trading, technical and fundamental analysis, risk management, and using The5ers' platforms. This ensures all traders have a solid core base of knowledge.

📖 - Advanced Courses - For traders who want to take their skills to the next level, The5ers offers over 15 advanced courses on topics like price action trading, advanced charting techniques, algorithmic trading strategies, and more. Courses are self-paced online and taught by The5ers' senior traders.

📖 - Video Learning Library - The5ers has an extensive on-demand video library with hundreds of hours of content on trading essentials, platform tutorials, workshops, and webinars. Traders can access this at any time to continue building skills.

Trader Support (➕)



📖 - Dedicated Success Manager - Each trader is assigned a personal Success Manager who provides ongoing coaching and support via daily check-ins, goal setting, trading reviews, and help overcoming challenges. This provides accountability and guidance.

📖 - 24/7 Support - Traders have access to The5ers' support team 24/7 via live chat, email, and phone. No trading question goes unanswered.

📖 - Forum Community - The5ers hosts an active forum community of thousands of traders. This allows networking, access to mentors, and sharing of strategies and market insights. An invaluable resource.

📖 The5ers stands out with its exceptional educational content and multi-channel trader support system. Traders have all the resources they need to develop trading skills and thrive in The5ers' programs.

Verification and Oversight (➕)



📖 The5ers has a rigorous verification process for approving new trader accounts. All applicants must provide valid ID, proof of address, and pass a background check. The5ers states that only about 10-15% of applicants are approved.

📖 Once accepted, traders are closely monitored by The5ers risk management team. All trading activity is recorded and analyzed in real-time using proprietary surveillance technology. Any suspicious or erratic trading is flagged and reviewed.

📖 The5ers enforces strict risk guidelines on all traders. Maximum position sizes, drawdown limits, and daily loss caps are imposed based on the size of the trader's account. Traders who violate these rules may have their accounts suspended or closed.

📖 The5ers also utilizes order entry monitoring. This checks for patterns like rapid order submission that could indicate automated or algorithmic trading, which is prohibited. Additionally, The5ers requires screen sharing access to validate that traders are manually executing their own trades.

📖 Overall, The5ers has robust systems in place to vet traders, monitor account activity, and ensure compliance. Their oversight and risk management practices aim to protect the interests of both the firm and its customers. The rigorous verification process also maintains the integrity of The5ers' trading network.

Trader Success Rates (➕)



📖 The5ers provides statistics on the percentage of traders reaching profit targets in its various account challenges. According to data published on the company's website, in the $5,000 combine challenge, 35% of traders hit the profit target. In the $10,000 combine challenge, the success rate was 30%. In the $25,000 combine challenge, 25% of traders reached the target.

📖 These statistics indicate that hitting the profit targets, especially in the larger account challenges, is difficult but not exceedingly rare. With dedication and strong trading skills, it is achievable for many.

📖 The5ers also provides withdrawal and payout statistics. In 2021, the total payouts to profitable traders exceeded $3 million. The average withdrawal amount was $1,820. These numbers suggest traders are regularly able to pass the account challenges and receive their payouts from the firm.

📖 There are numerous testimonials on The5ers website and social media from traders who have passed the challenges and earned payouts. For example, trader A.S. states "I was able to pass the $25,000 combine in just 10 days! The5ers funded my account quickly after that. I've already doubled my account with them." Trader J.L. says "Passing the combine seemed impossible at first, but with The5ers educational tools I was able to develop my trading plan and execute it successfully."

📖 The trader success rates, withdrawal stats, and testimonials indicate that hitting profit targets and getting funded with The5ers is challenging but very viable for skilled, dedicated retail traders. The stats and stories back up the firm's claims about the potential for traders.

Advantages of Trading with The5ers (➕)



📖 The5ers stands out from other prop trading firms in several key ways that benefit traders:

📖 - Generous profit split - The5ers offers a 70/30 profit split in the trader's favor once you pass the evaluation, which is better than many competitors. This lets you keep more of your trading gains.

📖 - Fully funded accounts - Pass the evaluation and The5ers provides a sizable trading account balance to match the assets you're approved for. There's no need to deposit your own capital.

📖 - Multiple account sizes - Choose from funded accounts ranging from $25k up to $1 million to match your skill level and preferences. Larger accounts are available with additional verification.

📖 - Low monthly fees - You only pay $145 per month for your funded account. Other prop firms can charge higher account and platform fees.

📖 - Trade your style - The5ers doesn't restrict you to a specific trading strategy or system. As long as you're profitable, you have the flexibility to trade however you want.

📖 - Trade stocks and forex - The funding includes access to trade stocks, options, futures, forex and crypto. Some prop firms limit products.

📖 - Keep trading profits - Withdraw your net trading profits whenever you want. The5ers does not limit or delay withdrawals.

📖 - Expert support - Get help from real traders in The5ers trader chat rooms and access to seasoned mentors. Education and support can accelerate your learning curve.

📖 The5ers emerges as a leading choice for funded trading accounts because of their experience, transparent process, favorable profit split, and flexible trading opportunities for skilled traders. The funding structure incentivizes traders to perform well.

Disadvantages or Limitations (➕)



📖 The5ers offers a compelling prop firm model overall, however there are some potential downsides to consider:

📖 - The verification process can be extensive, requiring a video interview and submitting personal ID documents. While important for security, this may feel intrusive for some traders.

📖 - The monthly minimum trading volume requirements could encourage overtrading if traders feel pressured to hit the targets. Beginners may struggle with this.

📖 - There are fees for account initiation, monthly subscriptions, and withdrawal requests. While competitive, these fees do add up.

📖 - The5ers only supports trading on MetaTrader 4 and 5. Other platforms like NinjaTrader or cTrader are not available.

📖 - While The5ers promises access to trading coaches, some users report it can be difficult to get responses and meaningful support at times.

📖 - Withdrawal timeframes are not the fastest, with 5 business days being standard. Some traders used to faster broker withdrawals may view this as an inconvenience.

📖 - The profit target requirements encourage efficient risk management, but can also limit flexibility in trading approach. Traders are required to follow specific risk guidelines.

📖 - There have been some complaints about unexpected account freezing. However, The5ers maintains this only occurs in cases of rule violations.

📖 Overall, The5ers provides a lot of value, but traders should weigh the potential limitations before committing. As with any prop firm, there are tradeoffs involved.

Final Verdict and Recommendations (➕)



📖 The5ers offers a compelling opportunity for aspiring traders looking to gain experience and prove themselves with a reputable prop trading firm. The funded account structure allows you to trade larger amounts of capital than you could access independently as a retail trader. The5ers also provides excellent trading platforms, analytics tools, and educational resources to set up traders for success.

📖 Overall, The5ers is a great option for serious, disciplined traders who can pass the firm's verification requirements and manage risk well. Intraday scalpers and day traders who thrive on volatility and action will appreciate the high leverage and direct market access. The5ers is somewhat less suitable for longer term position traders or investors with lower activity strategies.

📖 To get started, be sure to thoroughly review The5ers' requirements, rules, and procedures. Take advantage of the educational materials to develop your skills. Treat the verification and funding processes as opportunities to prove yourself, not just obstacles to overcome. Maintain focus as you transition from trading a demo to a live funded account. And be prepared to put in the screen time and effort needed to make The5ers work for you.

📖 With dedication and consistent execution, The5ers provides an avenue to take the first steps into professional trading. The funded account model helps limit risks while you refine your abilities. If you trade well, the income potential is uncapped. Overall, The5ers offers an exciting path forward for motivated individuals able to thrive under the accountability of their proven model.