The5ers for Canadians: Rules, Costs & Risks

Canada check

Prop 'evaluation' firms are not investment dealers and are not registered with Canadian securities regulators. You pay a fee to trade a (usually simulated) account under strict rules; payouts depend on the firm's terms and solvency. CIPF and OBSI do not apply.

Canadian status

Not a regulated dealer

Canadian entity

None — not registered in Canada

CIPF coverage

No

OBSI complaints

No Canadian ombudsman access

Accepts Canadians

Canadian eligibility unconfirmed

Licences abroad

—

Founded

2016

Headquarters

Israel

Our take on The5ers

The5ers (The 5%ers) offers several funding programmes, including instant-funding and multi-step evaluations with scaling plans. As with every prop firm, it is not a regulated dealer and the programme terms decide everything.

The5ers distinguishes itself with programmes that emphasise gradual scaling — account sizes grow as traders hit profit milestones — and with lower profit targets in some programmes in exchange for tighter risk limits. As with every prop firm, read how drawdown is calculated (static or trailing, on balance or equity) because that single rule determines how most accounts fail.

Accounts, markets & platforms

Platforms

MT5

Markets

Forex (30+ pairs) · CFDs

Pricing

Evaluation fee depending on programme

CAD / USD accounts

— CAD | — USD

Demo account

Not advertised

Figures are taken from the broker's own disclosures at our last review (2026-09) and change often — always confirm on the broker's website. Spot an error? Tell us.

Verify The5ers yourself

1. Look for the firm on CIRO's list of dealers it regulates.
2. Search the legal entity name in the CSA National Registration Search and check it is registered in your province.
3. Confirm CIPF membership in the CIPF member directory.
4. Search the CSA investor alerts for the brand name and any look-alike websites.
5. Make sure the account agreement you sign names the same legal entity — not an offshore affiliate.

Step-by-step guide: how to verify any broker in Canada →

Registered alternatives for Canadians

These firms are CIRO dealer members with CIPF-eligible accounts:

The5ers: frequently asked questions

Canadian trader reviews

Reviews are submitted by readers and moderated by our editors for relevance and abuse. They are opinions, not verified facts, and never affect our score.