The5ers vs FTMO 2026: Rules, Drawdown, Payouts & Key Differences

If you are comparing The5ers vs FTMO in 2026, you are probably looking at two of the most established names in the prop trading industry.

Both companies have been operating for years. Both offer structured evaluation programs, funded accounts and scaling opportunities. But their rules, pricing, payout structure and trading conditions are not exactly the same.

At Forex Wave Expert, we currently rate FTMO 87/100 and The5ers 75/100 based on our prop firm rating system.

That does not mean every trader will have the same experience with either company. Your trading style, budget, preferred risk rules and the type of program you choose can make a big difference.

In this The5ers vs FTMO comparison, we will look at the important differences traders should understand before choosing a prop firm in 2026.

The5ers vs FTMO: Quick Comparison

Program conditions can change. Always check the latest rules before purchasing an evaluation.

What Is FTMO?

FTMO is one of the longest-established companies in the modern prop trading industry.

Its evaluation model became widely known through the FTMO Challenge and Verification process. Today, FTMO offers both 1-Step and 2-Step evaluation options.

For the traditional FTMO 2-Step Challenge, traders currently need to reach a 10% profit target during the Challenge and 5% during Verification.

The maximum daily loss is 5%, while the maximum overall loss is 10%.

There is no fixed deadline for completing the evaluation, although the minimum trading-day requirement still needs to be completed.

One of FTMO’s biggest strengths is its established trading infrastructure and structured risk-management system.

You can read our detailed analysis here:

FTMO Review 2026: FWE Rating 87/100

What Is The5ers?

The5ers is another established name in the prop trading industry.

It offers different funding programs rather than relying on only one evaluation model. One of its major programs is High Stakes.

The High Stakes program uses a two-step evaluation with unlimited time.

Its current risk structure includes a 5% daily drawdown and 10% maximum absolute loss.

The5ers also allows overnight and weekend positions under its current High Stakes structure, although traders need to understand its news-trading restrictions.

Funded High Stakes traders can currently request payouts every 14 days, subject to the firm’s payout conditions.

Read our complete review before choosing a program:

The5ers Review 2026: FWE Rating 75/100

FTMO vs The5ers: Evaluation Structure

This is one of the first differences to understand.

FTMO now provides more than one evaluation route.

The traditional FTMO 2-Step model requires two stages before reaching the FTMO Account.

The current targets are:

FTMO Challenge: 10%

Verification: 5%

The5ers High Stakes is also a two-step evaluation program.

Both companies currently provide unlimited evaluation time, which removes some of the pressure created by older challenge models that required traders to reach a target within a limited number of days.

The important point is not simply how quickly you can pass.

A trader should understand the complete risk structure before attempting any evaluation.

Drawdown Rules: The5ers vs FTMO

Drawdown is one of the most important parts of any prop firm comparison.

For FTMO 2-Step, the maximum daily loss is 5% and the maximum overall loss is 10%.

The overall maximum loss on FTMO 2-Step is static relative to the initial simulated capital.

The5ers High Stakes also currently uses a 10% maximum absolute loss.

Its daily drawdown is 5%, but the calculation method matters.

The5ers states that its daily drawdown is calculated using the higher of the previous day’s closing equity or balance at the server-time rollover.

That means traders should not compare two prop firms based only on the headline percentage.

How a drawdown is calculated can be just as important as the number itself.

News Trading Rules

News trading is another area where traders need to read the details carefully.

The rules can differ depending on the FTMO account type and stage.

FTMO provides Standard and Swing account configurations, and the trading freedom around selected news events can differ between them.

This is especially important for traders who hold positions during major economic announcements.

The5ers High Stakes also has specific news restrictions.

Holding an existing position through news is allowed under the current High Stakes rules, but execution of an order from two minutes before until two minutes after a high-impact news event is restricted.

A pending order that is triggered inside that restricted period can also be affected.

This is a rule that news traders should understand before starting an evaluation.

Overnight and Weekend Trading

Trading style matters when comparing FTMO vs The5ers.

The5ers High Stakes currently allows overnight and weekend holding.

FTMO also provides options for traders who need more flexibility, particularly through its Swing account configuration.

This can matter for swing traders who may hold a position for several days instead of opening and closing everything within the same trading session.

Always check the exact specifications of the account you choose rather than assuming every account under the same company follows identical rules.

FTMO Payout Structure

FTMO uses a Reward system.

For the FTMO 2-Step route, the standard reward ratio is currently 80%.

Eligible traders can increase this to 90% through FTMO’s Scaling Plan or other qualifying programs.

FTMO’s Scaling Plan can also increase account size by 25% after qualifying four-month periods.

The maximum scaled allocation under the current Scaling Plan can reach $2 million across FTMO Accounts, subject to the company’s requirements.

FTMO’s long operating history and established payout infrastructure are major reasons it scores strongly in our review.

Forex Wave Expert currently gives FTMO 14/15 for Payout & Reliability.

The5ers Payout Structure

The5ers High Stakes allows funded traders to request payouts every 14 days.

However, traders should read the current payout conditions carefully.

The5ers has introduced payout caps and minimum payout requirements for some High Stakes account sizes.

Its current policy also includes a staged fee-refund structure connected to progression through the evaluation and funded stage.

In our full The5ers review, we also discuss recent trader complaints involving payout delays, additional Risk Team reviews and account-related disputes.

Not every trader reports these problems. Many traders continue to report successful experiences.

However, because payout reliability is an important part of our rating system, we believe both positive and negative trader experiences should be considered.

Forex Wave Expert currently gives The5ers 7/15 for Payout & Reliability.

For the complete explanation, read our The5ers Review 2026.

Scaling: FTMO vs The5ers

Both companies provide opportunities to grow beyond the initial account size.

FTMO’s current Scaling Plan can increase an eligible FTMO Account balance by 25% after qualifying four-month periods.

The program can eventually scale eligible accounts considerably higher, subject to FTMO’s conditions.

The5ers is also well known for scaling.

Its High Stakes program uses account growth levels connected to performance targets, and its current program information shows scaling potential up to $500,000.

Scaling can be attractive, but traders should not choose a prop firm only because it advertises a large maximum account size.

Risk rules, payout conditions and the ability to trade consistently within those rules matter more than the headline funding number.

Trading Conditions and Platforms

Trading conditions can directly affect strategy performance.

FTMO provides a broad trading ecosystem with analytics and performance tools. Its account configurations also provide different options depending on trading style.

The5ers High Stakes currently uses MT5 Hedge and offers access to markets including forex, metals, indices, oil and crypto under its program specifications.

Exact spreads, commissions, leverage and instrument specifications should always be checked directly before purchasing a program because these conditions can change.

FTMO Strengths

FTMO has several characteristics that contribute to its 87/100 Forex Wave Expert rating.

It has a long operating history, established payout infrastructure, structured risk rules, professional trading tools, account options and a well-developed trading ecosystem.

FTMO also offers Standard and Swing configurations, giving traders some flexibility based on trading style.

Its biggest weakness in our current review is price.

FTMO Challenges can be expensive compared with many competitors.

Some trading restrictions can also be important depending on the account type and strategy.

Read the complete breakdown in our FTMO Review 2026.

The5ers Strengths

The5ers also has several important strengths.

It has operated in the prop trading industry for years, offers multiple funding programs and provides an attractive scaling structure.

High Stakes currently offers unlimited evaluation time, a 10% maximum absolute loss and the ability to hold trades overnight and over weekends.

Challenge pricing and value are also areas where The5ers performs well in our rating system.

Our current rating is 75/100.

The main reason the score is lower than FTMO’s is not because The5ers lacks attractive programs.

Our concerns are mainly connected to payout reliability and risk-rule transparency based on issues discussed in our full review.

Forex Wave Expert Rating: FTMO 87/100

Our current FTMO score is:

Trust & Track Record: 19/20

Payout & Reliability: 14/15

Trading Rules & Freedom: 12/15

Challenge Price & Value: 9/15

Trading Conditions: 9/10

Risk Rules: 9/10

Account Options & Scaling: 5/5

Platforms & Trading Tools: 5/5

Customer Support: 5/5

Total FWE Rating: 87/100

FTMO is currently included in our Top Rated category.

Read the Full FTMO Review

Visit FTMO

Forex Wave Expert Rating: The5ers 75/100

Our current The5ers score is:

Trust & Track Record: 16/20

Payout & Reliability: 7/15

Trading Rules & Freedom: 12/15

Challenge Price & Value: 13/15

Trading Conditions: 8/10

Risk Rules & Transparency: 5/10

Account Options & Scaling: 5/5

Platforms & Trading Tools: 4/5

Customer Support: 5/5

Total FWE Rating: 75/100

The5ers is currently included in our Recommended category.

Read the Full The5ers Review

Visit The5ers

The5ers vs FTMO: Which One Fits Your Requirements?

There is no single prop firm that fits every trading style.

The comparison depends on what matters to you.

FTMO has a higher Forex Wave Expert rating because of its established track record, payout infrastructure, trading environment and overall ecosystem. Its higher Challenge price is one of its main disadvantages.

The5ers can be attractive for traders looking at its pricing, High Stakes structure, scaling model and trading flexibility. At the same time, traders should read our discussion of recent payout and Risk Team concerns before making a decision.

News traders should compare the restrictions carefully.

Swing traders should look at overnight and weekend rules.

Budget-focused traders should compare current Challenge prices.

Every trader should understand how daily and maximum drawdown are calculated before starting an evaluation.

The right comparison is therefore not simply FTMO or The5ers.

It is whether the rules of the specific program match the way you trade and manage risk.

Final Thoughts on The5ers vs FTMO 2026

The5ers and FTMO remain two established names in the prop trading industry in 2026, but their programs should not be treated as identical.

FTMO currently receives an FWE Rating of 87/100 and is included in our Top Rated category.

The5ers currently receives an FWE Rating of 75/100 and is included in our Recommended category.

Those ratings reflect the Forex Wave Expert review methodology and should not be interpreted as a guarantee of any individual trader’s experience.

Before paying for any prop firm evaluation, read the latest rules directly, understand the drawdown calculation, check payout conditions and make sure the program fits your trading approach.

You can continue your research through our FTMO Review and The5ers Review.

Risk Disclaimer: Prop firm evaluations and financial market trading involve significant financial risk. Passing an evaluation or receiving a funded account does not guarantee future profitability. This article is for educational and informational purposes only and should not be considered financial advice.

Affiliate Disclosure: Some links in this article are affiliate links. Forex Wave Expert may receive a commission if a reader purchases through these links, at no additional cost to the reader.