Topstep vs The5ers - full comparison
| Feature | Topstep | The5ers |
|---|---|---|
Overall |
4.28 |
3.98 |
4.4 |
3.5 |
|
4.1 |
4.5 |
|
3.6 |
3.5 |
|
4.5 |
4.5 |
|
Benefits for Prop-trader |
4.4 |
3.5 |
4.7 |
4.4 |
|
|
Your capital is at risk.
|
Your capital is at risk.
|
Topstep vs The5ers: pros and cons
Topstep has the brand strength and reputation that traders rely on as an industry leader and one of the Inc. 5000 fastest-growing companies in the United States. To engage in their funded account program, every trader begins with the Trading Combine. You can open a real-time virtual futures account with $50,000, $100,000, or $150,000 in purchasing power. After the Trading Combine, you will receive a funded trading account if you demonstrate consistent profitability and risk management. Topstep sends funds to your account and allows you to trade in real-time with their capital without taking any personal risks. After only eight trading days, traders can earn a funded account. The amount funded is equal to the plan chosen for the Trading Combine. Topstep is also extremely efficient in processing payouts daily, completing payouts requested before 10 a.m. CT the same day.
The 5%ers are known for their unique ways of handling forex funded accounts. These methods may be beneficial to traders who would like to try something different. The 5%ers take a completely different path from the other apps on this list. Each funded trading account is a live, real-money funded trading account funded by The5ers and tradeable by subscribers. All forex majors such as EUR/USD, USD/CHF, and key cross-currency pairs such as AUD/CAD and GBP/JPY are tradable assets. Each trader must complete the Level 1 Program with a profit target ranging from 10% to 25%. The Level 1 Program will be closed once the profit target has been archived by trading according to the guidelines. Profit will be distributed in accordance with the profit split, and a new trading account on the next higher financing level will be established with you as a Portfolio Manager Partner.
| Topstep | The5ers | |
|---|---|---|
| Overall Pros | Real trading accounts are financed by a broker, there is no need to invest your funds in trading | 7 currency pairs, 2 precious metals, 6 indices and over 3,000 securities available for trading |
| The company provides a wide range of free training materials, including free group coaching | Prop-company finances traders free of charge in the amount of 6 thousand US dollars, depending on the deposit | |
| You can contact the support team using several convenient methods | There is a demo account and a training program for novice traders with funding | |
| The broker offers a referral program for extra income | Standard leverage 1:10, by increasing the deposit and additional options, it can be increased to 1:30 | |
| The platform provides trading tools, analytics, strategy ideas, economic calendar | ||
| Overall Cons | The company doesn’t offer bonuses, automated trading, or other passive income options | A trader cannot have more than 3 accounts, and if accounts are inactive for 21 days, they are automatically closed |
| The support service works only on weekdays during set hours |
Topstep vs The5ers - regulation and safety
| Topstep | The5ers | |
|---|---|---|
Regulators |
No |
No |
Country of registration |
USA |
Israel |
Year of establishment |
2012 |
2016 |
Reliability of a prop trading company largely depends on its registration and regulation. The most reliable companies operate in compliance with laws of countries with high legal culture, such as the U.S., the UK, EU countries, Australia and Singapore.
A long period of operation in the global markets and awards can also provide additional information about the company. TU compared regulation and reliability of Topstep and The5ers by the above criteria.
Topstep vs The5ers - trading conditions, costs and leverage
Topstep
| Trading Plan | Managed amount, USD | Min trading days / Trading period | Profit target, USD | Daily loss | Max total loss | Max leverage | Price, USD |
|---|---|---|---|---|---|---|---|
| Trading plan 1 | 50 000 | 5/no limitations (under conditin of monthly payment of subscription) | 3000 | 1000 USD | 2000 USD | 1:100 | 165/month |
| Trading plan 2 | 100 000 | 6000 | 2000 USD | 3000 USD | 325/month | ||
| Trading plan 3 | 150 000 | 9000 | 3000 USD | 4500 USD | 375/month |
The5ers
| Trading Plan | Managed amount, USD | Min trading days / Trading period | Profit target, USD | Daily loss | Max total loss | Max leverage | Price, USD |
|---|---|---|---|---|---|---|---|
| Low | 6 000 | no limitations/180 | 375 (6,2%) | No | 360 USD | 1:10 | 235 EUR (one-time payment) |
| 10 000 | 600 (6%) | 600 USD | 385 EUR (one-time payment) | ||||
| 20 000 | 1400 (7%) | 1200 USD | 745 EUR (one-time payment) | ||||
| Aggressive | 6 000 | no limitations/60 | 720 (12%) | 360 USD | 1:30 | 235 EUR (one-time payment) | |
| 10 000 | 1200 (12%) | 600 USD | 385 EUR (one-time payment) | ||||
| 20 000 | 2400 (12%) | 1200 USD | 745 EUR (one-time payment) | ||||
| Bootcamp | 100 000 | no limitations/12 months | 6% | 5% | 1:10 | 95 EUR (one-time payment) | |
| 250 000 | 225 EUR (one-time payment) |
Prices of offered trading plans, minimum and maximum amount under management are the most interesting aspects of a prop trading company. Risk management levels for maximum losses and profit targets also play the key role.
Topstep vs The5ers - profit split
| Profit split | Topstep | The5ers |
|---|---|---|
Managed amount |
n/a |
USD 100,000-250,000 |
% Profit split |
90% |
50% with by-stage increase to 100% |
Profit split is one of the most interesting criteria for traders. Learn about the share of trading profit you can earn by traders with Topstep and The5ers.
Topstep vs The5ers - trading restrictions
| Trading restrictions | Topstep | The5ers |
|---|---|---|
Scalping |
Allowed |
Tick scalping is prohibited |
News trading |
Allowed |
Allowed |
Algorithmic trading |
Allowed |
Allowed |
Mandatory Stop Loss |
No |
No |
Mandatory position closing before the weekend |
Yes |
No |
Other limitations |
Arbitrage and copying signals are prohibited |
Some prop trading companies have limitations for certain trading strategies. There can also be limitations for trading without Stop Loss, trading position rollover to weekend, etc.s
Topstep vs The5ers - trading assets
| Asset Name | Topstep | The5ers |
|---|---|---|
Forex |
No |
Yes |
Stocks |
No |
No |
Metals |
No |
Yes |
Cryptocurrencies |
No |
No |
Energy |
No |
No |
Indices |
No |
Yes |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Others |
No |
No |
Most prop trading companies focus their trading on specific markets: stock, Forex, futures and options, and in some cases cryptocurrency. If you have a preference of a specific market, compare Topstep and The5ers trading assets to make a better informed choice.
Topstep vs The5ers - trading platforms
| Topstep | The5ers | |
|---|---|---|
МТ4 |
No |
No |
МТ5 |
No |
Yes |
cTrader |
No |
No |
NinjaTrader |
Yes |
No |
Other |
TSTrader , TradingView , MotiveWave, ATAS |
No |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading platform is very important to many traders, particularly those who already have experience of working with trading bots and strategies on one of them. Prop trading companies mostly offer to work with MT4, MT5 and cTrader Forex trading platforms as well as proprietary platforms of large brokers. Compare trading platforms of Topstep and The5ers to make the best choice.
FAQs
Can anybody become a prop trader?
You don’t need special education and status to become a prop trader. The main selection criterion is the ability to trade successfully and meet company’s risk/reward requirements.
What amount can I get as a funded trader?
Trading plans of prop companies are developed taking into account individual financial abilities and needs of traders. As a rule, beginners are offered plans from $10,000 to $25,000. Successful traders can attract up to $1 million in management.
What percentage of trading profit can I withdraw?
As a rule, upon expiry of an established trading period, traders can withdraw from 50% to 90% of profit. Everything depends on the conditions of a specific trading plan. Prop companies often incentivize successful traders by offering them a higher percentage of payouts and additional bonuses.
What are the main benefits of working with a prop company?
Firstly, you will be able to raise a substantial amount for trading, which will greatly improve your possibilities and potential profit. You will be able to use less risky strategies and earn decent income. Also, prop trading companies help traders to improve their professional level by offering educational courses, seminars, and exchange of experience.
Related Articles
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!
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). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.