THE5ERS VS TOPSTEP
Rating breakdown
the5ers 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.
Rating breakdown
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.Compare THE5ERS VS TOPSTEP Trading Features
| Trading Feature | THE5ERS | TOPSTEP |
|---|---|---|
| 💰 Fees: | The 5%ers Challenge an initial $6,000 balance costs €235; $10,000 balance for €385; $20,000 balance for €745 and a Scaling plan up to $4,000,000. | The TopStep Challenge with an initial balance $50K costs $165; $100K balance for $325; $150K balance for $375 (per month) |
| 🚀 Profit split: | The 5%ers will pay out 50% | TopStep will pay out 100% of the first $5,000 you generate and 90% from that amount. |
| ✔️ Evaluation: | The 5%ers version for forex traders includes a three-stage evaluation with a demo account | “TopStep Challenge,” a two-step evaluation process that you must pass to get your trading account funded. |
| 🎯 Profit Target: | 6%-7% (Low Risk Mode). 12% (Aggressive Mode). | 6% |
| ⚓ Maximum drawdown (MDD): | 6% of the balance at LV1 and LV2 of the scaling plan. 4% at higher levels. | 2% Daily loss limit. 4% to 3% Max trailing drawdown (the percentage varies depending on the account you choose). |
| ⌛ Trading Period: | The 5%ers Challenge duration is 365 calendar days (1 year). | The TopStep Challenge has No time limits. |
| ⚖️ Leverage: | The low risk programs offer a margin of 1:6 while with the aggressive programs, the leverage is 1:30. | The leverage offered is up to 1:100 (Forex) and can be lowered upon request. |
| 🔧 Instruments: | Forex, Metals and Indices. | Futures Markets: CME Exchange (17 instruments) NYMEX Exchange (4) COMEX Exchange (3) CBOT Exchange (13) |
| 📰 Allow Trade News: | Yes (except indices) | Not recommended |
| 🔄 Weekend Position: | Yes | No |
After spending several days researching different Proprietary Trading Firm for funded trading accounts, our team at start-business-online.com team collected various data points. For this review, we will compare The5ers vs Topstep.
Top alternative : FunderPro
Are THE5ERS or TOPSTEP currently the best possible options in the market? No Proprietary Trading Firm is perfect, and those two are no exception. While they do have a lot of pros, there are plenty of reasons why you might be looking for an alternative. So which Firms are better than The5ers and Topstep? Want to jump straight to the answer?
Compare THE5ERS VS TOPSTEP Funded Trading Accounts Programs - Find the best firm for you
THE5ERS VS TOPSTEP Prop Trading Firms at a glance
A handy comparison table with all the key facts for the Funded Trading Accounts Programs.
| Evaluation Metric | How they performed |
|---|---|
| Challenge difficulty | The 5%ers Challenge is by no means the most difficult. The fact that you are instantly funded and have a whole 180 days to complete the initial challenge makes the 5%ers one of the more straightforward options. That said, the price you pay is with a meaner margin of profit shares. You may get your foot in the door quicker, but there will be less on the other side as a result! On the other hand The Topstep Challenge is a simple yet effective way of separating the wheat from the chaff. It is not a perfect system, and there are grievances about some aspects of it, but, overall, it is a transparent and fair means of ensuring you know what you are doing. It's a great platform to take on the challenge, and it has easy-to-understand metrics that reflect your trading progress. |
| Customer support | The 5%ers make up the slack when it comes to the rules of using their platform. There are no restrictions on trading style, news trading, or the holding of weekend positons. For this reason, we give them a generous mark. On the other hand The customer support with Topstep is good, clearly reflected across several review platforms. There are some complaints about the quality of customer support, but most of these have been responded to. |
| Fee | The the 5%ers Challenge fee is on the higher end of the spectrum at $275 per attempt. That said, you access immediate funds from the first use, which does compensate the sign-up fee for those successful traders. On the other hand The cost on Topstep can be a positive or a negative depending on how quickly you pass the challenge. As it is a monthly payment, you will save money (compared to prop firms asking for more expensive one-off payments) if you complete the challenge quickly, but you will lose value for money if you are too slow. |
| Payout scheme | the 5%ers scores poorly on this metric as their payout is significantly lower than competitors such as TopStep and FTMO. That said, however, where the platform disappoints in the 50% share they make up for with the exponential growth option: your account balance doubles with every milestone you reach. On the other hand Compared to other proprietary firms, Topstep has a high percentage payout scheme or, to put it another way, it takes a lower percentage cut on your profits. |
The Verdict: The5ers or Topstep?
There’s no such thing as a perfect Proprietary Trading Firm, but some are going to be a better fit for you than others.
Objectively, Topstep is more reliable based on our criteria above.
What We Really Like on Topstep
it takes a low percentage cut on your profits
What We Don’t Like on The5ers
5%ers Challenge fee is on the higher end of the spectrum
There are other holes in the 5%er offer
Other Important Factors That Influence Our decision the most
The 5%ers do a neat 50/50 profit split with successful traders. While this seems fair on paper, many of the rival prop firms offer much higher ratios. Therefore we’ve decided to view the payout scheme as the weakest point of an otherwise fairly good all-rounder.
There are other holes in the 5%er offer too. The firm imposes restrictions on lot sizes [**this may no longer be true, have they removed the 0.65 lot limit?**] which doesn’t suit many trading styles.Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Funded Trading Accounts based on your precise requirements here.
Frequently Asked Questions (FAQs):
The5ers vs Topstep Which Is The Better Forex Prop Firm?
The5ers vs Topstep How do they compare?
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