FTMO vs The5ers for Forex Traders

Matched-account buyer comparison · prices and rules checked July 25, 2026

The5ers vs FTMO: 100K Cost-to-Funding Scorecard

This compares The5ers 100K Bootcamp with FTMO 100K 2-Step. They are not the same number of phases, so the correct price comparison is total cost after success, not Bootcamp’s $95 entry payment.

100K decision point	The5ers	FTMO
Price paid now	$95 entry payment	€439 promotional · €540 reference
Additional cost after passing	$205 to activate the 100K funded account · $300 total path cost	No additional activation fee; initial 2-Step fee returned with first reward
Evaluation path	Three phases, balances step from $25K to $50K to $75K before 100K funded	Two 100K phases
Profit targets	6% in each of 3 phases	10% Challenge · 5% Verification
Evaluation loss limits	5% maximum loss per phase · no daily pause listed during evaluation	5% maximum daily loss · 10% maximum loss
Funded risk	4% maximum loss · 3% daily pause · stop-loss required · no position may risk more than 2%	5% maximum daily loss · 10% maximum loss under 2-Step account rules
Reward / payout	First payout after 14 days and every two weeks; split scales from the program’s starting schedule toward 100%	80% standard, potentially 90%; request from day 14 after first funded trade
Best fit	Trader minimizing cash at risk now and willing to complete three phases with tight funded controls	Trader paying more for two phases, wider loss room, and simpler fee/refund structure

Advanced way to shop this comparison

1. Calculate cost to first eligible payout: use total path cost, likely attempts, resets, activation, add-ons, and refund timing—not the entry price alone.
2. Translate drawdown into trades: account for spread, commission, swap, slippage, correlated positions, and whether the floor is static or trails balance/equity.
3. Replay the funded stage: test your daily P&L against consistency, profitable days, risk-per-idea, news, buffers, minimums, caps, and payout timing together.
4. Verify trust operationally: identify the contracting entity, review rule-change history and complaint themes, get written strategy approval, and complete a small payout before buying multiple accounts.

Official sources used for this snapshot

• The5ers Bootcamp
• The5ers total Bootcamp cost
• FTMO Challenge
• FTMO objectives

Prices and terms change. Reconfirm the exact product, add-ons, platform, country eligibility, and agreement at checkout.

strong>TL;DR: FTMO and The5ers are the leading forex prop firms. FTMO’s standard 2-step challenge costs €540 (~$100k account), with 10%/5% profit targets, 5% daily/10% total static drawdowns, 80% profit split day one, and scales to $2M. The5ers Bootcamp costs $95 (plus $205 if you pass), with 6% targets across 3 phases, 5% max loss, 1:10 leverage (preventing over-leverage), 50% starting split scaling to 100%, and scales to $4M. The5ers High Stakes ($495) mirrors FTMO’s structure but with 8%/5% targets and also offers instant funding options. For absolute beginners, The5ers Bootcamp is best due to low cost per attempt and training wheels approach that builds proper risk management habits.

Understanding Proprietary Trading Firm Challenges

Before comparing specific firms, you need to understand how prop firm evaluations work. Forex prop firms don’t give traders live funds immediately. Instead, they require traders to pass a simulated trading test, called a “challenge” or “evaluation.” During an evaluation, a trader pays an upfront fee to access a demo account with simulated funds. The firm sets trading objectives. The trader must reach a specific profit target while following strict drawdown limits. Drawdown limits restrict how much money a trader can lose in a single day and over the lifetime of the account. If the trader meets the profit target without violating any risk limits, they pass that phase. Depending on the firm, there may be one, two, or three phases to complete. Once all phases are passed, the trader gets a “funded” account. This is still typically a simulated account, but the firm copies the trader’s trades to their live market accounts or pays out real money based on simulated profits. For beginners, the challenge phase is tough. The combination of needing to make a specific profit while avoiding strict loss limits creates intense psychological pressure. A single mistake, such as letting a losing trade run too far, results in failing the challenge and losing the upfront fee. Therefore, selecting an evaluation model that matches a beginner’s experience level and risk tolerance is critical.

FTMO Evaluation Model Breakdown

FTMO is widely considered the industry standard for proprietary trading firms. Founded in 2015 in the Czech Republic, FTMO helped pioneer the modern prop firm evaluation structure. They offer an evaluation designed to identify disciplined traders capable of managing risk appropriately. FTMO recently introduced a 1-step challenge, but their standard 2-step evaluation remains the most popular model. For this guide, we focus on the FTMO Standard 2-Step Challenge using a $100,000 account.

FTMO Account Sizes and Entry Costs

FTMO offers account sizes ranging from $10,000 to $200,000. The entry fee scales based on account size. For a $100,000 Standard Challenge, the upfront fee is €540 (approximately $588, depending on exchange rates). A $10,000 account costs €89. This fee is a one-time payment. If the trader passes both phases and reaches the funded stage, FTMO refunds the entire initial fee with the trader’s first profit split payout. If the trader fails by violating a rule, the fee is lost and they must pay again to start a new challenge. There is one important exception. If a trader finishes with a positive balance but doesn’t reach the profit target, and hasn’t violated any drawdown rules, FTMO provides a free retry. This is a significant benefit for beginners who manage their risk well but simply run out of favorable market setups.

FTMO Trading Rules and Objectives

The FTMO Standard evaluation consists of two phases. Phase 1 is the FTMO Challenge, and Phase 2 is the Verification. In Phase 1, the trader gets a $100,000 account with a 10% profit target (meaning $10,000 in simulated profit). There is no maximum time limit to achieve this goal. However, the trader must execute trades on at least 4 separate trading days. While aiming for the 10% target, the trader must follow two strict risk limits. First, the Maximum Daily Loss is 5%. On a $100,000 account, equity cannot drop more than $5,000 in a single day, calculated from the account balance at midnight Central European Time. If the balance starts at $100,000, equity cannot drop below $95,000. If the trader makes $2,000 and the midnight balance is $102,000, the daily loss limit for the next day is $5,100 (5% of the starting balance), meaning equity cannot drop below $96,900. Second, the Maximum Overall Loss is 10% of the initial account balance. For a $100,000 account, equity can never drop below $90,000 at any point during the evaluation. This is a fixed drawdown limit, meaning it does not trail upward as the account grows. If the trader reaches the $110,000 balance without breaching the 5% daily or 10% total loss rules, they move to Phase 2. The Verification phase proves that Phase 1 was not passed due to luck. In Phase 2, the profit target drops to 5% ($5,000 on a $100k account). The drawdown rules stay the same: 5% daily loss and 10% overall loss. The trader has unlimited time and must trade for at least 4 minimum days. Once Phase 2 is passed, the trader becomes an FTMO Funded Trader. They receive a new $100,000 account. There are no longer any profit targets required. The trader simply needs to stay within the 5% daily and 10% total drawdown limits while trading to earn an 80% profit split day one. This means traders keep 80% of their profits from the first payout.

The5ers Evaluation Models Breakdown

Founded in 2016 and headquartered in Israel, The5ers approaches the evaluation process differently than most competitors. While FTMO offers a single primary structure across different account sizes, The5ers offers three entirely different evaluation programs designed for different styles and experience levels. The three programs are Hyper Growth (1-step challenge), High Stakes (2-step challenge), and Bootcamp (3-step challenge). For beginners, the Bootcamp program is highly recommended due to its unique fee structure. The High Stakes program is the direct competitor to FTMO’s 2-step model.

The5ers Bootcamp Model

The Bootcamp program was specifically designed as a low-cost entry challenge to allow developing traders to prove their skills without risking large upfront fees. It uses a three-phase evaluation process. For a $100,000 Bootcamp account, the initial entry fee is only $95. This fee is non-refundable. If the trader successfully passes all three demo evaluation phases, they must pay an additional $205 to activate the live funded account, making the total cost $300. By splitting the fee, a beginner who fails during the evaluation only loses the initial $95, significantly reducing financial risk. The rules for the Bootcamp are distinct. In each of the three phases, the profit target is 6%. There is no daily loss limit during the three evaluation phases. Instead, there is a static maximum overall loss of 5% based on the initial balance of each phase. A unique aspect of the Bootcamp is how the account balance scales through the challenge. A trader does not start with a $100,000 demo account. Instead, the balance increases with each phase. For example, in the $100k track, a trader might start with a $25,000 account in Phase 1, move to a $50,000 account in Phase 2, and a $75,000 account in Phase 3. In every phase, the trader must make a 6% profit without hitting a 5% overall loss limit. There are no minimum trading day requirements, and there is no time limit to complete the challenges. However, the account will expire if there are 30 consecutive days of inactivity. Leverage in the Bootcamp program is restricted to 1:10. This is low compared to industry standards and forces the trader to use smaller position sizes, aligning with the program’s focus on strict risk management and steady growth. Furthermore, traders must place a stop-loss order on every trade. Once the trader passes all three phases and pays the $205 activation fee, they receive the funded $100,000 account. In the funded stage, the rules change slightly. The maximum overall loss tightens to 4%. Additionally, a 3% daily pause is introduced. If the account loses 3% in a single day, trading is disabled for the rest of the day, but the account is not permanently lost. The initial profit split is 50%, which increases to 75% after the first scaling milestone is reached.

The5ers High Stakes Model

The High Stakes program is The5ers’ answer to the traditional 2-step challenge. It is meant for confident traders who prefer higher leverage and larger starting profit splits. For a $100,000 High Stakes account, the entry cost is $495. Like FTMO, this is a one-time fee that is fully refunded if the trader passes both phases and reaches the funded stage. Phase 1 requires an 8% profit target. Phase 2 requires a 5% profit target. The drawdown limits are a 5% maximum daily loss and a 10% overall static maximum loss. Unlike the Bootcamp, the High Stakes program provides leverage up to 1:100. There are no maximum time limits to complete the phases. A unique requirement in the High Stakes program is the minimum profitable days rule. To pass a phase or to qualify for scaling, a trader must have a minimum of 3 profitable trading days. The5ers strictly defines a “profitable day” as a day where closed positions yield a positive return of at least 0.5% of the initial account balance. On a $100,000 account, a profitable day means generating at least $500 in closed profit. This rule prevents traders from passing the challenge with a single massive, lucky trade. Once funded, the High Stakes trader earns an initial profit split of 80%, which can scale up to 100% based on performance. Additionally, The5ers also offers instant funding options for traders who want to start earning immediately after passing.

Cost Comparison Entry Fees and Financial Risk

When evaluating which challenge model works best for beginners, financial risk is often the deciding factor. Beginner forex traders fail prop firm evaluations at a high rate. It is common for a developing trader to take three, four, or five attempts before successfully securing a funded account. Therefore, the cost per attempt drastically alters the financial math for a new trader. Let us compare the cost of a $100,000 evaluation across the three models:

• FTMO 2-Step Standard: €540 (approximately $588)
• The5ers High Stakes: $495
• The5ers Bootcamp: $95 upfront (plus $205 upon passing)

Consider a scenario where a beginner trader fails two evaluations before passing on their third attempt. With FTMO, the trader pays €540 for Attempt 1 and fails. They pay €540 for Attempt 2 and fail. They pay €540 for Attempt 3 and pass. Their total out-of-pocket spend is €1,620. Upon reaching their first payout, FTMO refunds the fee for the third attempt (€540). The net financial loss for the failed attempts is €1,080. With The5ers High Stakes, the trader pays $495 for Attempt 1 and fails. They pay $495 for Attempt 2 and fails. They pay $495 for Attempt 3 and passes. Total out-of-pocket spend is $1,485. After passing, the third fee of $495 is refunded. The net financial loss is $990. With The5ers Bootcamp, the trader pays $95 for Attempt 1 and fails. They pay $95 for Attempt 2 and fails. They pay $95 for Attempt 3 and passes. Upon passing, they must pay the $205 activation fee to get the live account. Total out-of-pocket spend is $490. Because the Bootcamp fee is not refundable, their total net cost to get funded is $490. For a beginner who is prone to making mistakes and failing challenges, The5ers Bootcamp offers a vastly superior financial safety net. A trader can attempt the Bootcamp six times for roughly the same cost as a single FTMO challenge. This lower financial burden translates directly to lower psychological pressure. When a trader knows a mistake will only cost them $95 instead of nearly $600, they are less likely to trade out of fear and desperation.

Evaluating Drawdown Rules and Limits

Drawdown rules act as the guardrails for prop firm accounts. Breaching a drawdown limit results in an immediate failure of the evaluation or the loss of a funded account. Understanding exactly how these limits are calculated is vital.

Daily Loss Limits

FTMO utilizes a strict 5% daily loss limit based on the starting equity or balance at midnight Central European Time. If you start the day with a balance of $100,000, your loss limit is $5,000. This calculation includes floating (unrealized) losses. If you are in a trade that drops $5,100 into the negative, your account is immediately terminated, even if the trade eventually reverses and closes in profit. The5ers High Stakes program also uses a 5% daily loss limit. A violation here also results in immediate account termination. The5ers Bootcamp program does not have a daily loss limit during the three evaluation phases. A trader only needs to worry about the overall maximum loss. However, once the trader reaches the live funded stage, a 3% daily pause is implemented. The daily pause is a unique feature. If the account equity drops by 3% in a single day, the firm automatically closes all open trades and disables trading until the next day. This is a “soft breach.” It protects the trader from revenge trading and spiraling out of control on a bad day, but it does not result in permanent loss of the funded account. For a beginner prone to emotional reactions after a loss, the daily pause is a highly beneficial safety mechanism.

Maximum Overall Loss Limits

FTMO enforces a 10% static maximum overall loss limit. This means the account equity can never drop below 90% of the initial starting balance. On a $100,000 account, the failure threshold stays permanently at $90,000. If the trader builds the account balance up to $108,000, their failure threshold remains at $90,000, giving them a massive $18,000 buffer. Fixed drawdown limits are generally considered the most favorable type for traders. The5ers High Stakes program also uses a 10% static maximum loss limit based on the initial account balance. The5ers Bootcamp program is much tighter. During the three evaluation phases, the maximum overall loss is 5%. Once the account is live, the maximum overall loss drops to 4%. On a $100,000 live account, a drop of just $4,000 from the starting balance results in account termination. This tight margin of error is the trade-off for the low entry cost of $95. Traders must execute strategies with extreme precision and utilize tight stop-loss orders to survive a 4% maximum drawdown limit.

Profit Targets and Consistency Rules

The primary goal of the evaluation phase is to reach the profit target. High profit targets force traders to take larger risks or spend more time in the market. FTMO’s standard model requires a 10% profit in Phase 1 and a 5% profit in Phase 2. For a beginner, generating a 10% return on an account while keeping total losses under 10% is challenging. The reward-to-risk requirement essentially demands a 1:1 return on maximum allowable risk. The5ers High Stakes program requires an 8% profit in Phase 1 and a 5% profit in Phase 2. The 8% target is slightly easier to reach than FTMO’s 10%, reducing the need for aggressive position sizing. The5ers Bootcamp requires a 6% profit target across three separate phases. While 6% is numerically smaller, the trader is constrained by the 5% maximum loss limit. This creates a reward-to-risk requirement of 1.2:1 (6% target divided by 5% drawdown). The ratio is actually more difficult than FTMO’s, meaning the Bootcamp requires a highly accurate trading strategy, even though the absolute dollar amount needed to pass each phase is lower.

Consistency Requirements

Prop firms want to fund traders who demonstrate consistent skill, not gamblers who get lucky on a single macroeconomic news event. FTMO approaches this by requiring a minimum of 4 trading days per phase. A trading day is defined as a day where at least one trade is opened and closed. This is a very low barrier. A trader could make 10% on day one, and then place microscopic 0.01 lot trades on days two, three, and four to fulfill the requirement. The5ers High Stakes program is stricter. They require a minimum of 3 profitable trading days per phase. As noted earlier, a profitable day requires a net gain of at least 0.5% of the starting balance. A trader cannot rely on one massive trade to pass the evaluation. They must demonstrate the ability to extract meaningful profit from the market on at least three separate occasions per phase.

Trading Platforms and Execution Quality

The software and specific rules governing open trades differ between the two firms. FTMO gives traders the option to use MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, or DXtrade. This variety ensures that almost any trader can use a platform they are already comfortable with. FTMO generally offers very competitive spreads and strong execution quality. FTMO allows maximum leverage of up to 1:100 on normal accounts. However, FTMO applies specific trading restrictions to standard accounts once funded. Standard account holders cannot hold trades over the weekend, and all positions must be closed before the market closes on Friday. Additionally, standard accounts are prohibited from executing new trades within a 2-minute window before and after high-impact macroeconomic news releases. FTMO does offer “Swing” accounts that allow weekend holding and news trading, but these come with lower leverage. The5ers primarily operates on the MetaTrader 5 (MT5) platform. They are known for providing excellent execution quality and extremely tight spreads, often cited by users as being slightly better than FTMO’s spreads for forex pairs. The5ers allows holding trades overnight and over the weekend on all of their programs. In the Bootcamp program, news trading is allowed, except for specific bracketing strategies. In the High Stakes program, trading 2 minutes before and after high-impact news is prohibited. Leverage is a major differentiator. The5ers High Stakes offers up to 1:100 leverage. The Bootcamp program restricts leverage to 1:10. For beginners, 1:10 leverage forces the use of smaller lot sizes and prevents catastrophic over-leveraging mistakes. While experienced traders may find 1:10 too restrictive, it acts as a valuable training tool for developing strict risk management habits.

Scaling Plans and Long Term Growth

A major draw of proprietary trading is the ability to scale capital over time. Both firms reward profitable traders with larger account balances, increasing the dollar value of their profit splits. FTMO utilizes a time-based scaling plan. To qualify for a capital increase, an FTMO trader must generate a total net profit of at least 10% over four consecutive months and process at least two payouts in that timeframe. If these criteria are met, FTMO increases the account balance by 25% of the initial size. They also permanently increase the profit split to 90%. FTMO caps individual traders at a maximum total allocation of $400,000 before scaling begins, and absolute maximum scaled capital is typically around $2,000,000. This provides a steady, methodical growth path that favors long-term consistency. The5ers uses a milestone-based scaling plan that allows for much faster capital growth. In the High Stakes program, the account scales up automatically every time the trader achieves a 10% profit milestone. For example, a $100,000 account requires a $10,000 profit to scale. Once hit, the account balance increases to $125,000. Hit 10% again, and it scales to $150,000. The profit split stays at 80% initially but eventually scales up to 100% at the highest tiers. The maximum cap for the High Stakes program is $500,000. The Bootcamp program features a massive scaling ceiling of up to $4,000,000. The account scales every time the trader reaches a 5% profit target. Initially, a 5% gain on a $100,000 account will add $25,000 to the balance. As the account grows larger, the scaling increments increase to $50,000, $100,000, and eventually $500,000 jumps. The profit split starts at 50% for the first milestone, bumps to 75% for subsequent levels, and eventually hits 100% when the account reaches the highest tiers. For a beginner, the difference in scaling models is largely theoretical. A new trader must focus entirely on passing the evaluation and securing a first payout before worrying about managing millions of dollars. However, knowing that The5ers scales upon hitting a 5% or 10% milestone without a 4-month waiting period makes the growth potential much more immediate once profitability is achieved.

Comparison Table Summary

To clearly view the differences, the table below compares the FTMO $100,000 Standard Challenge against The5ers’ $100,000 Bootcamp and High Stakes challenges.

Feature	FTMO 2-Step Standard ($100k)	The5ers Bootcamp ($100k)	The5ers High Stakes ($100k)
Upfront Cost	€540 (~$588)	$95	$495
Additional Fees	None (Refunded upon passing)	$205 activation fee (Not refunded)	None (Refunded upon passing)
Evaluation Phases	2 Phases	3 Phases	2 Phases
Profit Targets	Phase 1: 10%, Phase 2: 5%	Phase 1: 6%, Phase 2: 6%, Phase 3: 6%	Phase 1: 8%, Phase 2: 5%
Max Daily Loss	5% (Fixed)	None in demo, 3% pause on live	5%
Max Total Loss	10% (Fixed)	5% in demo, 4% on live	10% (Fixed)
Minimum Days	4 trading days	None	3 profitable days (0.5% gain)
Time Limit	Unlimited	Unlimited	Unlimited
Leverage	1:100	1:10	1:100
Starting Split	80%	50% (Scales to 75% quickly)	80%
Max Capital	$2,000,000	$4,000,000	$500,000

Which Challenge Model is Better for Beginners

When deciding which challenge works best for beginners, the answer ultimately depends on the trader’s financial situation and their ability to handle psychological pressure. For the absolute beginner who is still developing a consistent edge in the market, The5ers Bootcamp model is the superior choice. The reasoning comes down entirely to financial risk and the resulting psychological impact. Beginner traders fail evaluations. It is an unavoidable part of the learning curve. Paying €540 repeatedly to FTMO can quickly drain a developing trader’s personal capital. By allowing a trader to enter a $100,000 evaluation for just $95, The5ers removes the fear of catastrophic financial loss. When a trader is not stressed about losing $600, they trade with less urgency, force fewer setups, and focus more heavily on executing their strategy correctly. Furthermore, the Bootcamp’s 1:10 leverage limit acts as a set of training wheels. It forces the trader to utilize proper position sizing. You physically cannot over-leverage a trade to swing for the fences. The 3% daily pause implemented on the live funded account also serves to protect beginners from their own worst impulses, preventing emotional spirals that lead to blown accounts. However, The5ers Bootcamp is not perfect. The 5% overall max loss limit is extremely tight, and passing three consecutive phases requires intense discipline. The starting 50% profit split is also much lower than the industry average. For the intermediate beginner, a trader who has a proven strategy, practices excellent risk management, and has the capital to afford the entry fee, FTMO’s 2-Step Standard model or The5ers High Stakes model are better options. FTMO provides a massive 10% static drawdown buffer, which provides plenty of breathing room for a trader to survive a natural string of losing trades. Their 80% starting profit split is highly rewarding from the very first payout, and their platform options are unmatched. The5ers High Stakes program serves as an excellent middle ground, offering a lower Phase 1 profit target (8% vs FTMO’s 10%) and an entry cost that is slightly cheaper than FTMO ($495 vs approximately $588). If you are confident in your strategy and simply need capital, the FTMO structure or The5ers High Stakes program will pay you more money faster. If you are still testing your consistency and want to minimize the cost of learning, The5ers Bootcamp is the best entry point among FTMO alternatives.

Frequently Asked Questions

Conclusion and Key Takeaways

The modern prop firm industry offers incredible opportunities for retail traders, but navigating the various rules and evaluation models requires careful consideration. When deciding which challenge works best for beginners, the core difference lies in the balance between upfront financial risk and strict operational rules. Here are the key takeaways:

1. Financial Risk Mitigation: The5ers Bootcamp program ($95 initial fee for $100k) drastically reduces the financial burden of failing an evaluation, making it the most forgiving model for developing beginners.
2. Drawdown Flexibility: FTMO’s 10% static total drawdown offers a large, forgiving buffer that allows strategies with wider stop-losses to survive market volatility. The5ers Bootcamp is much stricter with a 5% (demo) and 4% (live) overall loss limit.
3. Consistency Requirements: The5ers High Stakes requires 3 profitable days of at least 0.5% return, ensuring only consistent traders pass. FTMO requires 4 trading days, but has no specific profitability requirement per day.
4. Profit Splits and Scaling: FTMO rewards passing traders immediately with an 80% profit split day one. The5ers Bootcamp starts at 50% but offers a superior, milestone-based scaling plan that can grow the account up to $4,000,000.

Beginners should prioritize survival and education over the pursuit of massive initial payouts. Utilize models like The5ers Bootcamp to practice risk discipline at a low cost. Once consistency is achieved, transitioning to FTMO or The5ers High Stakes will open access to higher leverage, larger initial profit splits, and significant long-term capital growth.

Where to Verify Current Rules

Rules, pricing, platforms, and payout requirements can change. Check these official pages before purchasing an evaluation:

• FTMO Official Rules
• FTMO Official Payout
• FTMO Official Site
• FTMO Official Rules
• The5ers Official Help
• The5ers Official Site
• The5ers Official Rules
• The5ers Official Payout

Official pages were included in the BestProps evidence set checked July 7, 2026.