The5ers Minimum Participation Fee and Payment options
The5ers minimum deposit :$85 for the education program and $235 for the standard account. The5ers offers payment methods, such as bank transfers, credit/debit card, electronic wallets, and online payment systems.
The article will be about The5ers, a proprietary trading firm that allows traders to trade with the firm's capital while sharing profits. We will focus on The5ers minimum participation fee and account details, such as Forex leverage, trading instruments, and risk management strategies.
If you're low on capital but trust your potential and wish to get Funding, you must try out The5ers. Continue reading to learn more.
Best Prop Trading FirmsWhat is the The5ers minimum deposit (particapation fee)?
The5ers' Scaling Plan program offers traders a funded account starting at $24,000, eliminating the need for a minimum deposit. Traders must undergo an evaluation process and adhere to strict trading rules but can earn a profit share based on their performance with the program's capital. On the other hand, the company has a participation fee that starts from $85. In order to receive funding, a trader needs to pay this minimum amount.
The5ers participation fee vs competitors
| Earn2Trade | The5ers | Topstep | |
|---|---|---|---|
Minimum Deposit |
$90 |
$85 |
$165 |
The5ers deposit methods
Once you have decided to start your funded account journey with The5ers, you must be ready to purchase the account. However, you must know that only some types of payment methods will be available across different platforms. Some of the ways for The5ers deposit to purchase your funded account are as follows:
Debit/ credit card;
Payment apps (eps, givepay and iDeal);
Stripe;
Coingate;
Wire Transfer.
The5ers Deposit methods vs competitors
| Earn2Trade | The5ers | Topstep | |
|---|---|---|---|
Bank Transfer |
Yes |
Yes |
Yes |
Debit/Credit Card |
Yes |
Yes |
Yes |
Payment apps |
Yes |
Yes |
Yes |
Cryptocurrencies |
No |
Yes |
No |
The5ers deposit fees
There is no deposit fee on the The5ers platform. This is because The5ers differs from your regular broker, where you must deposit money to start trading. Instead, as discussed, it is a funded prop firm where you must purchase an account to get funded. So, you must pay the purchase amount instead of a deposit.
The The5ers instant deposit fee will vary depending on the type of program you can choose from. There are different types of funding programs you can choose from. In the image below, you can check out the purchase amount for each account type.
Image: The5ers website
The5ers deposit - processing time
The The5ers deposit time is 2-3 business days.
The5ers account currencies
The5ers provides Funding in US dollars. However, you must pay to access the funded accounts in Euros. Therefore, during the conversion process, you must be ready to lose out on some money while making the purchase. In the table below, we have provided information regarding the account currencies.
| Earn2Trade | The5ers | Topstep | |
|---|---|---|---|
Account Currencies |
USD |
EUR, USD, GBP, JPY, CAD, AUD, NZD, CHF |
AUD, CAD, COP, EUR, GBP, JPY, MXN, USD, CHF |
How to deposit money on The5ers? Step-by-step guide
As discussed earlier, you can't deposit any fee on the platform to start trading. You will have to purchase the account to get a starter capital. You must comply with the particular account's rules and stay consistent with the profit for the minimum number of trading days. You must understand the conversion process while submitting the money. This will help in avoiding any unnecessary inconvenience while purchasing the account.
Now that you're familiar with the methods to deposit the amount and purchase the account, the steps you will need to follow are:
Step 1: Visit the official website of The5ers.
Image: Step by step guide to depositing money on The5ers
Step 2: On the homepage, at the top, you will find a drop-down option for "Funding Programs." Click on it.
Step 3: From the drop-down menu, select the second option, Instant Funding, which further has another arrow showcasing a new menu. Click on it.
Step 4: There are three options; choose the Funded Programs option.
Image: Step by step guide to depositing money on The5ers
Step 5: Scroll down the page to check all the programs on the platform.
Step 6: There are three types of funded accounts you can apply for. Each account is divided into two sections- Low Risk and Aggressive Risk. Go through the rules of each plan.
Step 7: Once decided which plan to choose, scroll down a bit to find the Signup option for the respective plan. Click on it.
Image: Step by step guide to depositing money on The5ers
Step 8: Learn the complete terms and conditions for the respective program, check out the purchase account, and enter the quantity. Again, click on the Signup option.
Step 9: Create an account by filling in all the details on the next page.
Step 10: Click on Agree to Terms and Conditions after reading them.
Step 11: Choose a payment method and make the payment.
Once you have followed the above-detailed steps thoroughly, you will soon receive the account credentials once your purchase is confirmed.
FAQs
What is the minimum deposit required to open an account with The5ers?
The minimum deposit required to open an account with The5ers is 235 Euros.
What types of accounts are available with The5ers?
The5ers offers four different types of accounts: Instant Funding and Bootcamp Program. The Instant Funding Program has two types: Funded and Growth Trading.
What are the funding options available for The5ers accounts?
The5ers offers funding options such as bank wire transfer, credit/debit card, Checkout, Stripe, and Coingate (only for cryptocurrencies).
Are there any additional fees associated with The5ers accounts?
No, there are no additional fees associated with The5ers accounts. However, traders may be subject to standard fees their payment provider or intermediary banks charge.
Team that worked on the article
Upendra Goswami is a full-time digital content creator, marketer, and active investor. As a creator, he loves writing about online trading, blockchain, cryptocurrency, and stock trading.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).