Overview
The 5%ers is a prop trading firm founded by Gil Ben Hur and Snir Chiel. Both former forex day traders, Gil and Snier, experienced first-hand the frustrations that lack of capital bring to experienced traders ready to play the markets. Hence, the 5%ers Funding Program was born: a platform to reward worthy traders with significant capital, with profits shared in a win-win outcome.Things we didn't like:
5%ers Challenge fee is on the higher end of the spectrumThere are other holes in the 5%er offer
Why would you want an alternative to THE5ERS?
The 5%ers ticks some boxes – but not all of them. Traders looking for higher returns over a shorter time frame may be better choosing a rival prop firm. Both the trial account and the funded account are smaller than their rivals, and other firms such as FTMO and TopStep offer much more generous profit shares.
What to look for in a THE5ERS Alternative?
The 5%ers drop the ball with the payout ratio and the lack of extra features. If you are putting yourself under the pressure of trading with tens or hundreds of thousands worth of dollars, then the reward must be worth it. A decent split would be at least 80% if not 90% profits to the person who made those successful trades. Regarding the inbuilt educational resources, your best prop firm would be one that nurtures your growth. Look for informational guides, training resources, and even mentor schemes. Therefore even if you are not making consistent profits, you will be discovering where you went wrong and learning from your mistakes.
Flexibility is critical when it comes to scouting sites or prop firms. Do your research and find a firm that offers a long-time frame to complete the challenge, generous leverage margins for successful traders, and ample flexibility within the trading parameters. Swing traders need to be especially discerning and avoid options that ban weekend positions or certain trading styles. Compare account sizes and profit milestones; each prop firm will have slightly different requirements when it comes to the daily/weekly position loss limit.
Best THE5ERS alternatives – Proprietary Trading Firms like (or better than) THE5ERS
Rating breakdown
Things we liked:
10% Exclusive Discount Code (SBOCOUPON)Minimal rules & unlimited time for completion
Two-part assessment leading to $200,000 in funding
Scaling plan & fast-track funding opt
Things we didn't like:
New player in the funded account offeringAn entry fee to sign up for the challenge.
FunderPro Overview
Founded in Dubai in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
Rating breakdown
Things we liked:
FTMO charges a one-time fee onlyFTMO has generous conditions for its traders
Things we didn't like:
Complaints about the platform freezingComplaints about lack of customer support
FTMO Overview
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.
Rating breakdown
Things we liked:
it takes a low percentage cut on your profitsThings we didn't like:
Not one-off paymentChallenges perceived to be too hard or pointless
Topstep Overview
Founded in 2012, Topstep has become one of the biggest proprietary trading sites online. Topstep FX is based in the USA, but it is available for everyone to use worldwide. Traders are invited to join their "forex funded trader program," which gives them the chance to use Topstep FX's money (and gain a healthy cut of the profits), without risking their capital.