The5ers Prop Firm Payment And Payout Methods

In this blog post, we’ll explain The5ers payment and payout methods covering how the firm handles payments, how traders can withdraw their earnings, and some commonly asked questions about the process

What Is The 5ers Prop Firm?

The5ers Prop Firm is a proprietary trading platform that funds skilled forex traders. Instead of risking personal money, traders use the capital provided by The5ers to trade and share a portion of their profits with the firm.

This system is ideal for experienced traders who want to grow their trading accounts and access larger capital. By joining The5ers, you can focus on achieving profit targets and scaling your account without worrying about losing your own money.

How Does The5ers Payments Work with ?

To join The5ers, you need to pay a one-time fee. This fee depends on the program and account size you choose. Once you pay the fee and pass the necessary requirements, you’ll be given access to a funded account where you can start trading.

Let’s look at the key payment details:

Entry Fees

• The5ers charge an entry fee when you join their program. This fee allows them to evaluate your trading skills and eventually provide you with funding.
• Fees vary depending on the account size you want. For example, larger accounts come with higher fees.
• The entry fee is non-refundable, even if you don’t pass the evaluation or fail the trading rules.

Profit Sharing

• The5ers has a profit-sharing model. This means that after you make profits on your funded account, you share a portion of those profits with the firm.
• Traders usually keep 50%-75% of their profits, while the firm takes the remaining percentage. The exact profit split depends on your account types, scale up plan and progress within the firm.

Payment Methods for Entry Fees
The 5ers offers multiple payment options to make it easy for traders to join. These include:

• Credit or Debit Cards: A convenient option for most traders.
• Bank Transfers: Great for traders who prefer direct transactions.
• Cryptocurrencies: An option for traders who use Bitcoin or other digital currencies.
• Stripes: Secure and widely used for online payments.

How Does The5ers Payouts Work?

One of the most important things to understand about prop trading firms is how they handle payouts. At The 5ers, payouts are straightforward and trader-friendly.

• Eligibility for Payouts: To be eligible for payouts, you need to reach the funded level. This happens after successfully passing the evaluation phase, where you meet the profit targets and follow risk management rules.
• Payout Frequency: Once you are at the funded level, you can request payouts on a regular basis, depending on the payout cycle. Traders can request payouts every two weeks (biweekly), or for High Stakes traders, there are fixed monthly payouts available.
• Monthly Fixed Payouts (for High Stakes traders): Once your account balance hits a certain amount, you’re eligible for a fixed monthly payout. 
• Requesting a Payout: To withdraw your profits, you simply use the request payout button in your hub. This will trigger the process of transferring your earnings.
• Impact of Withdrawals: Withdrawals do not affect your ability to scale your account. You can still increase your account size and continue trading even after withdrawing profits.
• Payout Cycle Reset: Every time you scale up to a new account (increasing your trading funds), the payout cycle will reset.

Payout Methods
The5ers traders have the option to receive payouts through Rise or cryptocurrencies. However, payouts are available only once a trader reaches the funded levels. From that point, you can withdraw your profits on a biweekly basis.

Each time you scale up a new account, the payout cycle will reset. Nonetheless, withdrawals will not impact your account scaling. To request a payout, simply use the ‘request payout’ button in your hub.

Once you’re a funded trader, you’ll receive a new funded account, allowing you to request a profit payout biweekly through your dashboard. The minimum withdrawal is $150. The accepted payout methods are:

• Rise: Withdrawal requests smaller than $1500 may be processed via direct crypto payment. Larger amounts will be paid via Rise.  
• Cryptocurrencies: You can request payouts in Bitcoin or other supported digital currencies.

Processing Time

• Payouts are processed quickly, usually within 1 to 3 business days. However, the exact time depends on your chosen payout method and your bank or payment provider.
• Cryptocurrency payouts might be faster, as they don’t rely on traditional banking systems.

Transaction Fees

• The 5ers charge fees for payouts. However, your bank or payment provider may charge transaction fees depending on the method you choose.

How to Make the Most of The 5ers Payment System

To maximize your experience with The5ers, follow these tips to get the most of their payment and payout methods.

• Choose the Right Plan: Before signing up, decide which account size and program match your trading goals.
• Understand the Rules: Carefully read and follow the firm’s trading guidelines. Breaking the rules could lead to the termination of your account.
• Plan Your Payouts: Withdraw profits regularly to enjoy the rewards of your trading efforts.
• Monitor Transaction Fees: Choose a payment or payout method with lower transaction fees to save money.

Frequently Asked Questions (FAQs)

• What happens if I lose money in my funded account? If you lose money, it’s covered by The 5ers’ capital, not yours. However, if you breach their rules, such as exceeding the allowed drawdown, your funded account will be terminated.
• Do I need to pay taxes on my earnings? Yes, you’re responsible for paying taxes on your profits. The5ers does not deduct taxes and so you’ll need to report your earnings to your local tax authority.
• Can I use multiple payout methods? Yes, you can change your payout method at any time. Simply update your preferences in The 5ers’ dashboard.
• How do I know my payments are secure? The 5ers uses secure payment gateways and trusted banking systems to ensure your transactions are safe.
• Can I get a refund if I don’t pass the evaluation? No, the entry fee is non-refundable, even if you fail the evaluation.
• Can I request a payout in Bitcoin? Yes, The 5ers allows payouts in cryptocurrencies like Bitcoin.