The5ers.com Review: 5% ers Forex Scam Remote Trader Program
Welcome to the The5ers.com review. The 5% ers is a prop trading firm owned and operated by Five Percent Online LTD. There is zero information about Five Percent Online LTD and its directors or the team behind it are 100% anonymous. It is not even clear whether this is a registered company.
The5ers.com domain was created sometimes in October 2015. It is not known who the owner is, but according to the about us page on their site, the5ers.com is based in Israel which is quite weird because on the LinkedIn profile of the company, they state that they are based in London and not Israel.
The 5% ers funded trader program offers 3 types of entry-level funded accounts with a profit share of 50% and growth target of 10%. The website claims that traders will never risk their own capital to enter the Forex market.
The self-proclaimed and anonymously-owned prop trading firm also declares that they are offering the most rewarding trading career program.
One thing that sets the 5% ers apart from the other prop trading firms is that they are letting traders play with live accounts from day one.
The question becomes, who wants to risk their money in the evaluation process? Does it sounds too good to be true? Definitely.
Probably you are just trading a demo account without knowing it. The-Five-Percenters starts to appear shady at this point.
If you want to know more about the5% ers, continue reading this review.
The 5% ers Review
The5%ers entices new traders with the idea that they should never risk a penny to enter the Forex market. Traders are supposed to get funded up to the tune of 1 million dollars.
The 5% ers claims that they will double your account when you achieve 10% profit.
As a funded trader who joins this program, there’s exponential growth opportunity, reliable monthly payouts and zero minimum requirement.
On the contrary, the 5% ers is asking for registration fees to get involved in any kind of funded trader program with them.
These fees are not mentioned upfront, and the marketing content can be very misleading at first.
To qualify for the 1 million dollar funded account, the 5% ers requires $400 registration fees.
You’ll then enter into a contest that is broken down into rounds 1 up to 7. Each round has an award attached to it.
The more I analyze this funded account program, the more it gets shady. While some elements are perfectly making sense, I do not understand why a prop firm that claims to be helping trader is keeping a 100% anonymous profile.
Secondly, I don’t get it when the5ers.com claims that they are giving traders the opportunity to handle live accounts from day 1.
Thirdly, the5ers.com is going contrary to their promise by charging a sign up fee for each of the 3 funded accounts.
This is contradicting to the promise that you won’t need to pay a penny to get started with the funded account.
The5ers.com Review – funded accounts
The 5% ers offers 3 types of funded accounts valued at $24,000, $40,000 and $52,000.
Joining any of these 3 funded accounts will require you to pay a one time commitment fee of $270, $400 and $550 respectively.
The5ers.com claims that you will be trading live accounts in any of the plans mentioned above.
These will have a trading balance of $6,000, $10,000 and $13,000 respectively.
I am not convinced that these are live accounts. Nobody in their sane mind can hand over a live trading account to a newbie looking to trade Forex for the first time.
It is like getting a job at an airline as a captain when you have never attended any flight school. You cannot fly that plane, period.
Is the 5% ers a scam?
I don’t know about you. But I think you are pushing it too far by giving someone your money in order to demo trade.
You could start trading on a demo account for free … I mean without paying a single cent.
If you have no idea, just go here and sign up with any of the brokers. You will be given access to a demo account loaded with virtual money of any amount.
Horn your skills there for a few months – although it can take a very very long time to become proficient in Forex trading. I don’t recommend going the long route alone because you’ll somehow give up.
You’d be doing yourself a favor by investing in this Forex and Cryptocurrency trading course. Since you are learning my daily trading strategies and not making mistakes in order to learn, it will save you many months of wasting time trying to learn this art.
Besides, you are spending less money to invest in the art of trading. Once you have mastered trading on a demo, you can make profits without sharing 50% of your gains with a prop firm like the the5ers.com.
As I conclude the5ers.com review, I’d like to remind you that trading isn’t very easy. 90% fail it if they do not have proper training.
It takes discipline and the ability to trust your judgement. 90% of those who join a prop trading firm like the 5% ers and many others just lose the ”one-time” commitment fee because they can’t achieve the profit target.
Many prop firms will go ahead and block you if you can’t demonstrate some level of consistency in gains. So at the end of the day, many traders just lose the money they paid upfront when joining a funded account program.
Bottom line, the5ers.com should not be seen as your ticket to financial freedom.
While it may not be a scam, the fact of the matter is that the mysterious nature of the owners of this entity is adding an element of shadiness.
The 5%ers review – conclusion
I wouldn’t recommend joining the5ers.com if you are less experienced. And even if you had the skill, I don’t think you’d still consider joining the 5% ers for the simple reason that it beats logic to share your gains when you can trade for yourself and keep all the profits.
What do you think about the 5% ers? Share your views below.