WHAT IS THE5%ERS?
The5%ers is a funding and growing trading company that provides traders with an opportunity to have access to a funded account to trade the forex market. The company was established in the year 2016 and it is based in Israel with a branch office in the United Kingdom. The5%ers make fully-funded forex trading accounts available to traders as long as they meet the trading requirements for the funded trading program. Once a trader becomes eligible for a funded account and starts trading, they have access to monthly profit payout plans along with profitable growth scenarios.
There are trading insights, educational articles, and analyses to help traders compete in the forex market and succeed. This way, the selected traders have an enhanced trading career which gives them a chance to earn higher profits consistently.
Why THE5ERS is unique?
The5ers funded program is unique and different from other proprietary firms because traders can get instant funding at the first level of the program even though it is limited. The idea at the first level is to observe the traders and see their level of success in trading while using their own trading strategy and staying in line with the risk management requirements of the program.
The company also has reliable customer support that is available each day every week. From Sundays to Thursdays, availability is for 10 hours while they are available for 5 hours on Fridays. There is a constant emphasis on transparency and accessibility while providing traders with an adequate supporting framework. Also, anyone from around the world can apply for the funded program as long as they are above 18 years old. The company has no ethnic or cultural discrimination as they welcome diversity and are open to all nationalities.
WHAT ARE THE5ERS OFFERS FOR FOREX? TRADERS?
Forex is the biggest market in the world and it is the market where a lot of beginner traders tend to take their first step in the trading journey. While traders do not need a large amount of capital to be profitable when trading forex, having sufficient funds to utilize sophisticated trading strategies increases the trader’s chances of making increased profits. And this is where a proprietary firm like The5%ers comes in. Since this is a company that is focused on forex traders, this gives such individuals a chance to get a head-start on their trading career at reasonable prices as well as adequate support from seasoned professionals.
What are THE5%ERS offers and prices?
To get started, there are four different Level 1 packages that the company makes available to traders which are divided based on the account size and the immediate funding that the traders can have access to.
|$275 (get 5% off here)
|$450 (get 5% off here)
|$565 (get 5% off here)
|$875 (get 5% off here)
P.S: In the first funded account, you will be founded with only 25% of the actual account size, when you reach the trading objectives, you will then be able to trade with 100% of the account size
what are the differences between Low Risk or Aggressive accounts?
You will have to choose the option that you want to participate in since each of the package accounts has an aggressive and low-risk option which determines the profit target that a trader has to aim for. Generally, the aggressive program option has a profit target of 12% while the low-risk program has a profit target of 6-7%. But there are some other differences.
Here are all the differences between the Low-Risk program and the Aggressive program:
|6 to 7%
what happens after we finish Level 1 at The5ers?
Once traders sign up, they are given a Level 1 funded account which then allows the company to evaluate the general performance of the traders in terms of their trading style, profit target, and risk management. Traders that end up reaching or exceeding the maximum stop-out rate for a selected account package will have their accounts terminated because it shows they are not good at money and risk management. This is why the aim for Level 1 account holders is to show that they are capable of making consistent profits while minimizing risks. They must endeavor to meet their profit target, avoid breaching the max loss limit rules, and be logical when utilizing leverage. Once traders perform well with managing the level 1 funded account, they receive their first payout and are given an official trading account.
how much costs an account at The5ers?
The trader need to pay a one-time fee to sign up. As mentioned earlier, the amount of the fee ranges from $275 to $875 depending on the package option selected by the traders. But you can get 5% off here for all offers. The funding for the program is provided by the company thus making it suitable for beginner traders with little or no capital.
what is the profit spilt at The5ers?
Once the trader receives an official trading contract and starts making money, 50% of the profits accrued by the trader is retained by the company which is quite steep compared to other firms offering this kind of service. There is the availability of one free payout every month but if traders wish to withdraw more than once, then they will be charged at least $15 or a 3% handling fee.
is there professional guidance and tools available at The5ers?
Yes, There is professional guidance from The5%ers team which provides traders with useful trading insights, educational tools, and risk management tips that are all useful in navigating the forex market. The program offered by The5ersis designed in such a way that traders gain extra skills and knowledge due to the wealth of free resources that are made available by the company.
The program is suitable for just about any kind of trader irrespective of experience as long as traders can show success and consistency in trading along with a clear strategy and willingness to learn quickly.
WHAT ARE THE RULES AND CHARACTERISTICS OF THE5%ERS
The5%ers are highly interested in traders and their trading experience which is why detailed insights about their trading platform are provided so that traders can have an efficient experience. Below are some of the rules and characteristics that traders can expect to come across:
What are the5ers general trading objectives?
- The level 1 objective in terms of profit target is 6% for the low-risk option, while it is 12% for the aggressive option.
- The time limit is 6 months for the low-risk option, while it is 2 months for the aggressive option
- The stop-out level of is 4% for both package options.
- The delegated leverage for the low-risk option is 1:6, while it is 1:30 for the aggressive option.
What is drawdown and how can it be calculated?
While The5%ers do not apply drawdown as part of their program anymore but instead use a stop-out bar, it is still important for traders to know what drawdown is because it shows the potential risk within a trading strategy.
The drawdown can be determined by a specific calculation which will be explained:
The P&L money difference between the highest balance (closed positions P&L) and the lowest equity (closed + open positions) which usually comes afterward. P&L represents profit and loss.
For example, the highest balance on 5th January at 11:00 am is $12,550;
Lowest equity hours after 11:00am on 5th January is $12,120;
The drawdown is thus calculated as $12,550 – $12,120 = $430.
Are traders allowed to hold positions overnight and over the weekend as well as trade the news?
Traders can hold positions overnight and over the weekend too but the company emphasizes the need for traders to note the implications of volatility, rollover swap conditions, spreads conditions, and liquidity. The program of The5%ers is designed in such a way that it is flexible such that it can accommodate diverse trading styles and personalities thus allowing traders to trade the news.
How do the5ers traders make profit payouts requests?
For traders on level 2 funded accounts, they are eligible to make withdrawals from their profit-share anytime with any level of frequency that suits them without any minimum or maximum limit of withdrawal. Such traders only need to push the “Profit Payout” button on the dashboard of their accounts.
Is there a requirement for minimum trading days or minimum positions?
No minimum trade positions nor minimum trading days exist for completing level 1. Once traders can reach the profit target, Level 1 is completed and traders can have access to a larger account and keep growing from there.
What is time expiration at The5ers?
There is a predetermined maximum time duration that is allowed for traders to complete Level 1 of the program. Within the duration, traders are expected to complete all the trading goals and objectives but there is room for flexibility for traders who were not able to finish all the trading objectives but were still able to end on a positive note. Such traders may be given extra time to complete the objectives depending on the package option.
How to ask The5ers for an extension?
For traders with the low-risk program option that are unable to complete the trading goals within the required duration but can show a net profit of 2.5% or more, then they can request a 30 days extension. The request for extension can only be granted when the trader asks for it via email or chat, and the extension can only be given twice.
For the aggressive program option, the approach is a little bit different as the trader does not receive a time extension but rather a free restart for ending with a positive P&L and not meeting the profit target.
Why is there a participation fee at The5ers?
The period of participation in the level 1 phase of the program is very important for the traders and the company since a lot of time and effort are invested in the traders and their careers. Since traders will be evaluated through the use of real, live accounts, the participation fee serves as the only monetary contribution and maximum payment that the trader has to make. The company is looking for traders with a sense of responsibility, a modicum of patience, and strong risk management skills. Such traders should also have the ability to make substantial profits which gives them a chance to make up for the participation fee through their gains.
What will traders receive for paying the participation fee?
Traders will receive the following:
- A trading account that is fully funded instead of a demo account.
- Trading resources
- A sophisticated Dashboard
- Trading losses waiver
- Payouts from the profit share
- A Reliable support
- Unrestricted access to The5%ers live trading room
How many programs can traders simultaneously sign up to?
Traders are allowed to register for up to three different programs which increase the chances of traders getting more funds to trade with, up to almost $4 million. However, traders are not allowed to merge the different accounts.
Which trading platform does The5%ers use?
The5%ers use the MetaTrader 5 (MT5) platform because it is currently the most sophisticated platform for forex brokers and traders globally. MT5 provides many benefits when compared to the legendary MT4 which is older and does not align with the standards that The5%ers intend to make available to the traders. And since the goal is to ensure that traders have a seamless development and trading experience, MT5 just seemed like the logical platform to utilize.
Can The5ers traders use their indicators and expert advisors when trading?
Totally! The company gives the traders enough room to maneuver which is why traders are allowed to use the strategies that suit them. Once traders complete the level 1 program and are offered an official trading contract, they are free to use their various trading techniques and tools like indicators and expert advisors without any restrictions.
PROS AND CONS OF THE5%ERS FUNDED TRADING PROGRAM
What are the Advantages of THE5%ERS?
- It is favorable for beginner traders as access to educational tools and support from professional traders will help build their trading skills and expertise.
- There is an opportunity to access funding of up to almost $4 million.
- The company espouses full transparency and has a great reputation as there are no hidden charges.
- With every milestone that a trader achieves, the account funding doubles.
- Trading conditions are less strict and any type of trading is allowed.
- Traders can hold overnight positions and over the weekend as well.
- Traders have the chance to work with a funded account right from the onset once the participation fee is paid.
- Traders have increased time duration to complete challenges and meet the trading targets.
What are the Disadvantages of THE5%ERS?
- Traders only get 50% of the profit made which is low compared to the sharing percentage of other similar firms.
- The amount of the participation fee can put off some traders who might have held an initial interest in the program.
- Using the MetaTrader5 platform might not necessarily make chart reading so smooth.