Most traders don’t flame out in prop firms because they “can’t trade.” They flame out because the rules quietly start steering the wheel.
It’s subtle. Margin feels tighter than you expected, so you shave size. Drawdown mechanics creep into your exits. The platform adds friction. A couple of weeks later you realize the strategy is fine, but the container you put it in isn’t.
This comparison keeps things grounded.
We’re looking at AquaFunded vs The5ers, with The5ers narrowed to what most people actually compare: Bootcamp and High Stakes. Leverage, drawdown structure, platforms, payout cadence, and the rules that show up once you’re in the account.
Table of Contents
AquaFunded vs The5ers (Bootcamp and High Stakes) at a Glance
| Feature | The5ers (Bootcamp) | The5ers (High Stakes) | AquaFunded |
|---|---|---|---|
| Max Leverage (Forex) | 1:10 | 1:100 | 1:100 (evaluation) / 1:50 (funded) |
| Crypto Leverage | 1:0.20 | 1:2 | 1:2 |
| Entry Cost ($100k account) | Varies | Varies | Varies |
| Profit Split | 50%–100% | 80%–100% | 90% standard (100% add-on available) |
| Drawdown Type | Trailing (max loss from initial balance) | Trailing (max loss from initial balance) | Static or trailing (depends on model) |
| Platform | cTrader, MT5 | cTrader, MT5 | MT5, cTrader, TradeLocker, Match-Trader |
| Payout Frequency | Bi-weekly | Bi-weekly | Bi-weekly (7-day first payout add-on available) |
Here’s the general feel: The5ers runs more structured and progression-based. AquaFunded gives you more ways to choose the structure up front. If you already know how you trade, that usually reduces friction.
Key Differences
1. Progression path vs model choice
The5ers is built like a progression system. Bootcamp especially rewards patience and measured risk. You earn better conditions over time, and the structure nudges traders into conservative decision-making.
High Stakes improves conditions and shortens the path, while keeping the same overall philosophy.
AquaFunded puts most of the decision-making at the start. You choose a model that matches your temperament, and then you operate inside it. For traders with a defined style, that tends to feel cleaner day to day.
2. Leverage becomes a strategy filter
Bootcamp’s 1:10 leverage works fine for traders who keep sizing modest and don’t rely on scaling in and out. In that environment, it can feel calm.
Active strategies feel the squeeze faster. Margin becomes the limiter even when risk management is solid, simply because the style requires more flexibility.
AquaFunded’s evaluation leverage leaves more room for active execution. Funded leverage is lower than evaluation, but it typically stays workable for most day-trading approaches without forcing a full strategy rewrite.
3. Platform workflow shows up every single day
The5ers is MT5-only. That simplicity is a plus if your workflow already lives there.
AquaFunded offers MT5 plus alternatives. TradeLocker can cut down the TradingView-to-execution shuffle. cTrader tends to appeal to traders who care about order tooling. Match-Trader is another prop-oriented option. You still need a strategy, but fewer workflow annoyances makes execution easier to keep consistent.
Feature Comparison
Evaluation structure
The5ers Bootcamp is a longer runway with multiple stages. It’s built for steady progression. High Stakes trims the path and upgrades the trading environment, especially leverage.
AquaFunded gives you multiple routes, each with a different feel:
- 1-Step Standard: 9% profit target, 3% daily drawdown, 6% trailing max drawdown, minimum 3
trading days - 1-Step Pro: 6% profit target, 3% daily drawdown, 6% trailing max drawdown, minimum 5 trading days, plus a consistency rule on payouts
- 2-Step Standard: 8% then 5% profit targets, 5% daily drawdown, 8% max loss, minimum 5 trading days per phase, static drawdown
- 2-Step Pro: 10% then 5% profit targets, 5% daily drawdown, 10% trailing max drawdown, plus a consistency rule on payouts
- 3-Step: three phases, 6% target per phase, 4% daily drawdown, 8% max loss, static drawdown
- 3-Step Pro: three phases with the same longer runway, designed for traders who prefer tighter discipline around how profits are distributed across days
The practical benefit is choice. Instead of forcing your strategy into one template, you can pick the template that suits your strategy.
Drawdown rules
This is where most confusion happens.
Bootcamp and High Stakes both use an absolute maximum loss framework anchored to the initial balance. The overall loss limit does not trail equity highs.
High Stakes adds nuance on the daily limit. Daily drawdown references the previous day’s closing equity or balance (whichever is higher), so the daily limit can effectively expand as the account grows.
AquaFunded varies drawdown by model. Some structures use static drawdown. Others use trailing. Daily limits shift across paths as well. Traders who know what kind of drawdown they handle best tend to appreciate having the option to choose.
Profit splits and payout cadence
The5ers splits depend on the program and progression.
AquaFunded starts at 90% and offers an add-on option that can push it to 100%. Payouts are bi-weekly, with an optional faster first payout window. If you’re trading for cashflow, those details matter.
Refund policy
AquaFunded’s evaluation fee refund is tied to a later milestone after multiple payouts. It’s not immediate. It does reduce long-term cost for traders who plan to keep withdrawing consistently.
Pricing Comparison
Pricing moves around on both sides. It varies by promos, account size, and add-ons.
The more useful lens is what you’re paying for.
The5ers typically positions Bootcamp as the lower-cost entry and High Stakes as the higher-cost option with stronger conditions.
AquaFunded pricing depends on the model you choose, and the cost usually reflects the structure: targets, drawdown style, and payout upgrades.
The real cost: time
The fee is easy to see. The timeline cost hides in the background.
Weeks spent trading in a structure that doesn’t fit can be expensive in a way that doesn’t show up on a checkout page. The longer-runway formats matter for that reason. The 3-Step paths give more pace without pushing you into low-leverage constraints.
User experience and interface
The5ers keeps it simple with MT5.
AquaFunded’s platform list gives you a bit more room to optimize workflow. If you’re sensitive to execution friction, that can be a quality-of-life upgrade. If you’re not, you can still run MT5 and keep it straightforward.
Trading rules and restrictions
Every firm has rules. The question is how much they intrude on normal trading.
The5ers tends to be simpler and progression-based.
AquaFunded is more model-specific. The upside is clarity once you’ve chosen your model. Common points that matter:
- Minimum trading days can apply depending on the model.
- Consistency rules show up on Pro-style tracks and mostly affect withdrawals rather than ending
accounts. - News windows matter mainly for news-focused strategies.
- Wave Stop behaves like a circuit breaker. Traders who size responsibly rarely notice it. Traders who occasionally push size can see it as a guardrail.
Scaling potential
Both firms offer scaling paths.
The5ers tends to be incremental through milestones.
AquaFunded scaling is more criteria-driven, where performance thresholds can trigger larger jumps.
Use cases
Choose The5ers if:
- You want a structured progression system and don’t mind earning upgrades over time.
- You swing trade and don’t need margin flexibility.
- You prefer the simplicity of MT5-only and a guided path.
Choose AquaFunded if:
- You trade actively and want enough flexibility for multi-entry execution.
- You care about platform choice beyond MT5.
- You prioritize higher baseline splits and a payout rhythm built around performance.
- You want the option to match drawdown style to your trading personality.
- You like the longer runway options in 3-Step and 3-Step Pro.
Verdict
The5ers is a strong fit for traders who like structure and progression.
AquaFunded tends to suit traders who already have a defined playbook and want to run it with fewer compromises. The platform flexibility, the range of evaluation structures, and the ability to choose between static and trailing drawdown frameworks all help with that.
If you want a guided ladder, The5ers is the natural choice. If you want more control over the structure you’re trading inside, AquaFunded usually feels like the easier environment to operate in.
FAQs
1. What trading platforms does each firm offer?
AquaFunded offers Match Trade, TradeLocker, MetaTrader 5, and cTrader as platform options. The5ers offers MetaTrader 5 and cTrader. AquaFunded provides more platform variety with four options compared to The5ers’ two platforms.
2. What’s the maximum account scaling potential?
The5ers allows traders to grow their account up to $4M and keep 100% of the profits. AquaFunded offers initial account sizes ranging from $2.5k up to $400k, with a scaling plan that allows traders to grow their accounts up to $4,000,000. Both firms offer the same maximum scaling potential of $4M.
3. How do the profit splits compare?
AquaFunded offers a standard 90% profit split, with an add-on available at checkout to increase it to 100%. The5ers offers profit splits starting from 50% (Bootcamp/Hyper Growth) or 80% (High Stakes) that can scale up to 100% based on performance, plus a monthly fixed payout option for larger accounts ($4,000/month at $350K balance, $10,000/month at $500K).
Both can reach 100%, though The5ers adds a fixed payout bonus for larger accounts and AquaFunded requires a paid add-on for 100%.
4. What challenge types does each firm offer?
AquaFunded offers Instant Funding, One Step, Two Step, and Three Step challenge models. The5ers offers three programs: a Bootcamp Program with a single-phase evaluation and gradual scaling stages, a one-step Hyper Growth program, and a High Stakes 2-step evaluation challenge.
5. What leverage is available?
AquaFunded offers up to 1:100 max leverage on their evaluation accounts. The5ers offers up to 1:100 leverage on their High Stakes program, 1:30 on Hyper Growth, and 1:10 on the Bootcamp program. AquaFunded offers consistent leverage across models, while The5ers varies by program.
