The5ers Challenge: fees, benefits of joining
The5ers Challenge is a trading evaluation program that allows traders to showcase their skills and potentially receive funding for trading.
In this article, we will discuss The5ers Bootcamp Challenge, a trading evaluation program that allows traders to prove their skills and potentially get funded for trading with a real account.
The5ers is not a broker but a proprietary trading company that provides funding to successful traders who pass their evaluation program. So if you’re looking for a trading opportunity without risking your capital, then a funded trading account by The5ers is an ideal option.
To get a funded account on The5ers, traders must pay a one-time fee that ranges from $100 to $1000 (depending on the chosen account size) and need to pass the The5ers challenge. After successfully clearing out the evaluation phase, traders will be eligible to receive funding up to $2,000,000 with a profit split between 50% to 90% in the trader's favor.
To know more about The5ers challenge, keep scrolling to uncover the full facts.
Image: The5ers Bootcamp Program
What is the The5ers Bootcamp Challenge?
The answer to What is The5ers Challenge is that it is the first of its kind, low-entry cost challenge, allowing traders to prove their trading skills and pay the amount after passing the evaluation phase. However, it is essential to note that the The5ers Bootcamp challenge is only for disciplined and consistent skilled traders. This is an excellent way to start if you want to participate in the program to test your skills. You join this program to challenge yourself and maintain profitability and consistency.
| Earn2Trade | The5ers | Fidelcrest | |
|---|---|---|---|
Fees |
$105 |
EUR 235 |
- |
Minimum Deposit |
$90 |
EUR 95 |
$99 |
Account Currencies |
USD, AUD, GBP, JPY, EUR, CAD |
USD, AUD, CAD, GBP, EUR, JPY, NZD |
USD, GBP, JPY |
Why join the The5ers challenge?
Joining The5ers Challenge can be quite useful for skilled traders. Traders who feel they have mastered trading but are still trying to figure out their skills should consider taking the challenge. Joining the The5ers challenge will ensure that the trader needs to pass all phases of the challenge and complete it within three stages.
They will get a demo account to take trades and execute them. They can check how profitable and consistent they are. Moreover, the entry cost is pretty low, so you wouldn't have to worry about losing money. Once you have passed the stages, you will be eligible for a funded account and get the profit split.
What is a funded trading program?How to successfully complete the The5ers Challenge?
To complete the The5ers challenge, passing all the phases by following the The5ers challenge rules is important. There are only 3 phases, but it is essential to maintain consistency across them.
Some rules to follow are:
If you cannot trade for more than 21 days or if your account is inactive, you will not be allowed to complete the challenge.
The maximum number of active accounts per trader is 3. Therefore, they can join the program through one $250K account and two $100K accounts.
During the Challenge stage, every level will be accessible for around 48 hours after completing the previous level.
You can also hold trades across the night and weekend. The swap will be high if you're holding indices across the weekend.
Do not open any position without an SL order.
If there are 5 violations in any account, it will be terminated.
Stages of The5ers challenge
There are three stages of the 5ers Challenge. You pay the amount and get started. The stages of the The5ers Challenge are as follows:
| Challenge Stage | Cons of Earn2Trade | Maximum Loss (5%) | Profit Target (6%) |
|---|---|---|---|
Challenge 1 |
$25K |
$1,250 |
$1,500 |
Challenge 2 |
$50K |
$2,500 |
$3,000 |
Challenge 3 |
$75K |
$3,750 |
$4,500 |
The5ers Challenge fees
There are two types of The5ers Challenges- $100K and $250K. Hence, The The5ers Challenge fees for these programs are as follows:
$100K- €95
$250K- €225
Image: Types of The5ers Challenges
An example of successful completion of the The5ers Challenge
John, an experienced Forex trader, took on The5ers Challenge to improve his skills and earn funding. He crafted a trading strategy meeting The5ers' requirements and passed the evaluation phase. The firm granted him a funded account with a 50% profit share. John traded with discipline and consistency, generating substantial profits for himself and The5ers. His success exemplifies how The5ers Challenge helps traders achieve their goals and reach their full potential in the financial markets.
How Much Do Funded Forex Traders Make?The The5ers Challenge: TOP 5 tips
Understand the rules: Before starting the challenge, ensure you know The5ers Challenge rules. This includes the maximum drawdown, profit target, and risk management guidelines. Make sure you are comfortable with these rules before beginning the challenge.
Use a proven trading strategy: It's essential to have a trading strategy that has been tested and proven to work in the markets. This will increase your chances of success in the challenge. Ensure you backtest your strategy and understand how it works in different market conditions.
Focus on risk management: Risk management is crucial in any trading challenge, and The5ers Challenge is no exception. Ensure you have a plan for managing your risk, including setting stop-loss orders and using position-sizing techniques to limit your exposure.
Be disciplined: Discipline is key when trading in The5ers Challenge. Stick to your trading plan; don't let emotions cloud your judgment. Avoid overtrading and stay focused on your goals.
Keep a trading journal: Keeping a trading journal can be incredibly helpful in analyzing your trades and improving your performance. Ensure you record all your trades, including entry and exit points, and any reasons for entering or exiting the trade. This will help you identify trading patterns and make necessary adjustments.
Image: Live Trading Stages
Difficulties with passing the The5ers Challenge
Traders can face several difficulties when completing the The5ers Challenge.
Here are some common challenges that traders may encounter:
The profit target for The5ers Challenge is set relatively high, which can be challenging for some traders.
Traders not used to tight risk management may find it challenging to adjust their trading style to meet these requirements.
Market conditions can be volatile and unpredictable, which can make it challenging for traders to maintain profitability over the long term.
Trading can be an emotional experience, and traders may struggle to manage their emotions when facing losses or to make difficult trading decisions.
Technical issues such as platform malfunctions or internet connectivity problems can occur anytime, disrupting a trader's ability to execute trades and manage their positions effectively.
FAQs
What is The5ers Challenge?
The5ers Challenge is a trading evaluation program that allows traders to showcase their skills and potentially receive funding for trading.
How does The5ers Challenge work?
Traders must pass a series of trading evaluations, including meeting profit targets and maintaining strict risk management guidelines. If successful, they may be eligible for a funded trading account.
What is the maximum drawdown allowed in The5ers Challenge?
The maximum drawdown allowed in The5ers Challenge is 10%.
What is the profit target for The5ers Challenge?
The profit target for The5ers Challenge varies depending on the chosen account size.
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.