Hi traders,
I have had a relatively bad experience on the 5ers. Problems such as glitches in mt5. When contacting them they seemed reassuring as they said it would get urgent attention. Still no response after week or two. Another thing I don’t like is the leverage isn’t enough for crypto trading as I run out of margin all the time and not exploiting my full potential. Also they seem to only provide 2 cryptos (bitcoin, ethereum). Lastly the spreads are costly. I am asking for an honest recommendation that has favourable conditions for crypto trading. I found one called crypto fund trader… does anyone have experience with them?
Did your situation with 5ers eventually get resolved, @kyrkar ?
By comparison with lots of prop firms, especially at the moment, and with all the turmoil going down in the prop firm space right now, their online reputation generally seems to be pretty good?
The honest ones at the moment look like 5ers and FTMO?
I was thinking of trying 5ers, myself, for a relatively high-risk method I’ve been trying to develop and for which I wouldn’t mind trying a funding opportunity rather than risking my own money (it does well on demo).
A couple of posts you’ve made here about 5ers are giving me pause for thought!
What’s the latest with them, regarding your own situation, please, if you don’t mind commenting further?
My situation was never resolved unfortunately. On my computer when I draw a horizontal line and zoom in or out on the chart the line is not static which is really terrible for measuring risk and profit.
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Thanks very much for a fast answer. I presume it was only a problem at your 5ers MT5 account, not anywhere else?
Did they try to resolve it? Did they say anything about it?
Sorry to fire questions at you! I’m trying to decide whether or not to let it put me off!(?).
On my phone everything works well. I did get a late clock a few weeks ago but was fixed. One great setback is that the leverage for crypto is very low which means I run out of margin many times. I wish they had more leverage and more cryptos.
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And no it was never resolved
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You might find some relevant info on https://www.propfirmmatch.com if you haven’t already visited there?
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Thanks - I have, actually. But it’s a bit of an affiliate link-farm site, and you never quite know how objective their reviews really are?
But it was partly visiting that and a few other sites that kind of narrowed my choice down to 5%ers and FTMO, really.
I’m also tempted by FTMO’s current discount (they don’t often have one at all!) and the fact that you can use Ctrader there rather than Metatrader.
True, you never really know. However, one cannot simply place a review there without any checking or verification. For example, when I wrote a review there a while back I had to give my acc details so that they could verify it with the prop firm concerned.
But, apart from the reviews, I think the site is useful in gaining a quick overview of the various companies and their current products and offer.
I certainly agree there! I find MT4/5 incredibly clumsy to use and quite ugly to look at. One can get round that by using a copy trader from one’s own platform to MT5. I have never done that but people do talk about it. My main concern there is that there is often a small difference in price quotes between my personal acc platform and the MT5. That could be a problem.
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I’m nowhere near get an account, but cool site. Thanks for sharing it.
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I’m kind of amazed that people use MT4. It’s so much like old school windows. Not a fan.
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I can’t understand it at all.
I’m kind of new to trading and have, at the moment, a relatively long list of “things I have absolutely no idea about,” but I was pleased to see your post because it reflects my own thought.
I just can’t begin to understand why anyone would want to use MT4. Especially as it’s no longer even being updated and manufacturer support for the platform is being withdrawn.
I tried it again, on a Oanda demo account using MT4 because somebody had a strategy and mentioned the indicators he was using.
Ummm MT4 is so bad!