The5ers Review – Is It Your Best Pick?
Traders need a good platform where they feel safe with their trades and know their efforts are not in vain. When looking up trading platforms to use, you probably came across The5ers, a company that offers proprietary trading accounts. You might not be aware of what the company has in store for its users – therefore, you don’t know if you should trust it.
This The5ers review serves as a way to inform you about the platform and its services. In the end, you should be able to form your own opinion about it and determine if you should start trading with it or not.
The5ers (The-Five-Percenters) is a Traders funding program that was started by Gil Ben Hur and Snir Achiel. It was founded back in 2016. It is not a Forex Broker, but rather a site that offers capital funds to Forex traders who trade individually. As such, the program is looking for traders, not investors.
It all started when the CEO Gil Ben Hur and the co-founder Snir Ahiel requiring capital to be able to make money using their skills. Both of them were good at what they were doing. They were trading Forex, and despite being skilled enough to become successful, their lack of capital was keeping them back. The solution for a while was using limited capital resources from their homes. This way, they managed to enlarge the capital through their family members. Sometimes, they would even work on managing the capital of other traders so they would get some of the positive results.
When Gil saw that there was a demand for this and it was a very popular thing, he thought that forming a premium academy would be a great idea. This academy worked to pick trader teams that would create a large community, where people would partner for trading. The5ers started from his idea.
That’s how in 2016, the program was released and the public gained access to it. From that point, traders had access to capital to be able to trade. Instant funding is available for all traders from the moment they join, meaning they will have a real-money account funded by the platform. After you join and start trading, you will go through several levels with your trading. Level 1 will be where the team will look at the way you manage risks while you’re working to be successful with your own trading strategy. Then, when you get to level 2, you will be offered more funding to be able to keep trading and achieving your goals.
You’re most likely interested in the site’s features the most, as well as the account and programs available. Please find all the details below:
The website has an evaluation program that evaluates people’s trading skills. There are different programs suitable for various types of traders, which is what makes things so convenient.
For instance, there is the Low Risk Evaluation Program, which is good for traders with lower risk. After all, traders should be able to have a 4% drawdown avoidance while keeping a net profit gain of 6%.
Then, there is The Extended Risk Evaluation Program, which is a great program for more experienced traders. Obviously, this one comes with more benefits compared to the previous one, but it’s also a bit more difficult. You will have to keep a higher net profit compared to the previous program, and the drawdown rate should be 8% only.
In the end, if you can achieve the evaluation goal, you will become eligible for a funded account. When this happens, you will have the opportunity to trade using the capital offered by The5ers, with a profit split of 50% and no risks included. You will get account financing of 100%, as well as 50% of the profits, no self-capital risk, and a 10% growth target.
Funded Account Types
When you reach the funded account part, you still have different types of accounts available. If you become eligible for a $52,000 funded account, you will have to pay a fee of $550. You also have to trade a $13,000 live account in order to become qualified.
Meanwhile, if you qualify for a $40,000 funded account, your fee will be $400. Lastly, $24,000 funded accounts will come with a $270 fee.
In the Extended Drawdown program, $45,000 funded accounts will come with a $1,200 commitment fee, while $30,000 accounts will have a commitment fee of $800, and $21,000 accounts will have a fee of $580.
On The5ers, when you reach a target objective, the account you own will be closed, and you’ll be automatically paid the profit you gained from the program. The amount will be offered to you at the closest end of the month.
When this happens, there will be a New Funded Account created in your name and it will have higher capital. You will also become a Portfolio Manager Partner. It will be created based on the Level 1 Program specifications you previously offered.
Trading Securities Available
The platform allows all Forex Majors for trading, and it enables all Forex Majors’ crossings as well. So, the trading opportunities are not limited. You will trade in whichever currency you want.
When checking reviews online, it’s easy to notice that most of them are positive. People talk about the site’s team and about how they know what trading means and what it involves. Also, they mention that the target can be easily achieved compared to other Funds. Many people were also able to learn a lot of things from the program, and lessons were learned even after passing the evaluation stage.
A few complaints can be noticed too. They talk about how they were not allowed to make any trades anymore, and the customer support team not being available when necessary.
No Demo Account
There isn’t any demo account – you can just register properly from the get-go. You will pick the account you want and you only pay a 1-time fee. You will also have your profits paid at regular dates, usually the closest payment cycle after reaching the target. Therefore, you do not have to go through a demo account before you can start working on trades.
The company has a customer service that you can contact in case you need assistance or you have questions. You can call them on the phone number available on the website, or you can send them an email. They also have a chatbot in the bottom right corner of the page when you access their website, and you can use that to contact them too.
Office hours are from 7:00 to 17:00 GMT from Sunday to Thursday, and from 7:00 to 12:00 GMT on Fridays.
The5ers can be a very good platform for anyone who wants to get a funded trading account. It will get you through two levels, and if you pass them, you will be able to get a funded account and use your skills to become a great trader. Reviews are mostly positive, showing that most people had a good experience with the company. So, if you want a funded trading account, this may be your opportunity.