The FA Cup is well and truly back and, with it, comes the highs and lows of England's oldest cup competition. The fifth round of the competition started this week, with Arsenal already having booked their place in the next stage after their 2-0 win against Portsmouth on Monday night. Meanwhile, Chelsea are all set to face Liverpool in a crunch fixture at Stamford Bridge on Tuesday.8️⃣ fixtures. 4️⃣ days. #UndertheLights.Your #EmiratesFACup fifth round week is finally here 🤩 pic.twitter.com/R1I07fPNct— The Emirates FA Cup (@EmiratesFACup) March 2, 2020Almost all big English clubs are still in contention for the trophy this year, with each one of them keen on taking the cup home. With that in mind, let's take a look at 5 teams who are the favourites for this year's FA Cup:#1 Leicester City: (Chance - 3/5)Leicester CityLeicester City beat Brentford FC 1-0 in their previous FA Cup match and they are now ready to take on Championship side Birmingham City in the fifth round. The Foxes have enjoyed a pretty favourable fifth-round draw in comparison to other Premier League sides and that surely gives them a better chance of going further in the competition this year.Brendan Rodgers' men were beaten by Manchester City last term but they could go all the way to lift the cup this time around. Also Read: Derby County vs Manchester United preview, prediction, team news, and more | FA Cup 2019-20#2 Arsenal: (Chance - 3.5/5)Arsenal FCThe most successful club in FA Cup history is once again through to the quarter-finals of the competition. Arsenal are well and truly in it with a shot at their 14th FA Cup trophy - the most in the history of the competition- after their 2-0 win over Portsmouth on Monday night.The Gunners certainly have a better chance to win the competition this season but they need to be on top of their game to beat the other Premier League heavyweights. After their shock Europa League exit last month, the FA Cup is Mikel Arteta's only chance of winning a trophy this season.#3 Manchester United: (Chance- 3.5/5)Manchester UnitedManchester United face Championship outfit Derby County in the fifth round of the FA Cup. The Red Devils were knocked out of the League Cup by the Rams last season and they must not let themselves slip once again.Wolves ended the Manchester giants' journey in the quarter-finals last year but this could just be Ole Gunnar Solskjaer's year. United could potentially face other Premier League giants in the ensuing rounds of the FA Cup but they would surely be hoping to avoid them.Also Read: Portsmouth 0-2 Arsenal: Player Ratings from the Gunners' comfortable victory | FA Cup 2019-20