In the world of forex trading, selecting the right prop firm is a pivotal decision for traders aiming to make a mark in the financial markets. This article delves into a discussing the distinctions between two prominent players in the forex prop trading arena: The Funded Trader and The5ers comparison. The focus will be on their company details, funding program options, trading rules and objectives, pricing structures, brokers and trading platforms, trading instruments, and Trustpilot statistics.
Key Points of The Funded Trader and The5ers Comparison
The Funded Trader: Empowering Traders Since May 2021
The Funded Trader, incorporated in May 2021 and headquartered in Liberty Hill, Texas, is spearheaded by CEO Angelo Ciaramello. This prop firm provides traders with a maximum allocation capital of $600,000. The company offers a distinctive three-step evaluation process as part of its funding program.
The5ers: Forging Paths in Forex since April 2020
Established in April 2020, The5ers, led by CEO Gil Ben Hur, operates from its office in London, UK. With a maximum allocation capital of 3x $250,000, The5ers provides traders with funding options through a two-step and three-step evaluation process.
Funding Program Options
The Funded Trader distinguishes itself with a one-step, two-step, and three-step evaluation process, providing traders with flexibility in their journey to securing funding. On the other hand, The5ers offers a two-step and three-step evaluation, coupled with the unique feature of instant funding.
| The Funded Trader | The5ers | |
|---|---|---|
| Evaluation Process | One-step, Two-step, Three-step | Two-step, Three-step |
| Instant Funding | No | Yes |
Trading Rules and Objectives
In terms of trading rules and objectives, The Funded Trader presents a structured approach through its Bootcamp Challenge. Traders are required to meet profit targets of 8%, 5%, and 5% with a daily drawdown limit of 5% and an overall drawdown limit of 10%. The leverage offered is 1:100 (swing 1:30). No minimum trading days are mandated, providing flexibility. Profit splits range from 75% up to 95%.
The5ers adopts a different strategy with profit targets set at 6% across the board. Notably, there is no daily drawdown requirement, and the overall drawdown limit is 5%. The leverage stands at 1:10, and similar to The Funded Trader, there is no minimum trading day constraint. Profit splits are structured from 50% up to 100%.
| The Funded Trader | The5ers | |
|---|---|---|
| Profit Targets | 8%, 5%, 5% | 6%, 6%, 6% |
| Daily Drawdown | 5% | No Daily Drawdown |
| Overall Drawdown | 10% | 5% |
| Leverage | 1:100 (Swing 1:30) | 1:10 |
| Profit Split | 75% up to 95% | 50% up to 100% |
Prices
Pricing structures play a vital role in a trader’s decision-making process. The Funded Trader offers evaluations ranging from $5,000 at $49 to $250,000 at $225 (with an additional $350 after passing). The5ers starts at $5,000 with an evaluation cost of $95 (with an additional $205 after passing), reaching $50,000 at $225 (with an extra $350 after passing).
| The Funded Trader | The5ers | |
|---|---|---|
| $5,000 | $49 | $95 (+ $205 After Passing) |
| $10,000 | $99 | $200 |
| $25,000 | $135 | $495 |
| $50,000 | $205 | $225 (+ $350 After Passing) |
| $100,000 | $355 | – |
| $200,000 | $495 | – |
| $250,000 | $225 (+ $350 After Passing) | – |
Brokers and Trading Platforms
The Funded Trader collaborates with reputable brokers such as Eightcap, ThinkMarkets, and Purple Trading Seychelles. The trading platform choices include MetaTrader 4 and MetaTrader 5. The5ers, on the other hand, operates with a liquidity provider offering direct market access, and their trading platform of choice is MetaTrader 5.
| The Funded Trader | The5ers | |
|---|---|---|
| Broker | Eightcap, ThinkMarkets, Purple Trading Seychelles | Liquidity Provider with Direct Market Access |
| Platform | MetaTrader 4, MetaTrader 5 | MetaTrader 5 |
Trading Instruments
Both The Funded Trader and The5ers offer a diverse range of trading instruments, including forex pairs, commodities, indices, and cryptocurrencies.
Trustpilot Statistics
- Analyzing Trustpilot ratings provides valuable insights into community sentiment. The Funded Trader maintains a strong rating of 4.4/5 based on 15,696 reviews.
- Meanwhile, The5ers surpasses this with an impressive 4.8/5 rating, albeit with a lower count of 1,871 reviews.
Conclusion
In conclusion, both The Funded Trader and The5ers present themselves as commendable choices for traders seeking prop funding. The differences in trading rules, pricing structures, and community feedback should be considered when making a decision. Ultimately, the choice between these prop firms may hinge on individual preferences, risk tolerance, and specific program requirements.
In the dynamic world of forex trading, it is crucial for traders to align themselves with a prop firm that resonates with their goals and trading style. As traders embark on their journey, The Funded Trader and The5ers comparison provides valuable insights into the distinctive features each prop firm brings to the table. Whether it’s the diverse funding program options, the intricacies of trading rules, or the technological support from brokers and platforms, traders can now make an informed decision based on this comprehensive analysis.
Unlock Your Trading Potential with The Funded Trader Program
Ready to take your trading to the next level? Get started with The Funded Trader Program and use code “propfirmsinsights” for an exclusive 5% discount on your funded trading account.
Unlock Your Trading Potential with The5ers
Ready to take your trading to the next level? Get started with The5ers and start your trading journey on the right foot.
