The ranking system in Virtua Fighter 5 is pretty complicated compared to Tekken 5. In Tekken 5 you start at Beginner and work your way up to the top. However VF is slightly different. It depends on your win ratio.
Here's a list of the rankings:
After the Dan ranks, a character's title is dependent on winning percentage.
If your winning percentage is less than 70% then you will receive the following ranks:
Master -> Defender -> Enforcer -> Sentinel -> Protector -> Guardian -> Paladin -> Liberator
If your winning percentage is between 70% and 80% then you will receive the following ranks:
Master -> Hunter -> Raider -> Barbarian -> Assassin -> Slayer -> Berserker -> Destroyer
If your winning percentage is above 80%% then you will receive the following ranks:
Master -> Warrior -> Veteran -> Gladiator -> Vindicator -> Avenger -> Vanquisher -> Conqueror
So what is truly the highest rank available in the game then? Well upon obtaining "Conqueror" players have not gone through the other two ranking trees therefor they believe that other ranks exist above them. Your winning percentage can and does change over time. This can lead to crossing from one rank tree to another (i.e. an "Enforcer" can rank up to "Barbarian" and then up or down to "Vindicator" or "Protector"). The only time a rank tree is final is when a character obtains their 28th rank, "Liberator", "Destroyer", or "Conqueror". It is impossible to change ranks once a character obtains their final rank, the experience bar stops moving, even when fighting other 28th rank opponents. It also appears to be impossible to rank down from this level, locking a character into their final title.
When you go into VFTV Movie Theatre, hold left on the d-pad when pressing X to select the Wolf-El Blaze or Eileen demo movies. The movies will now feature your customized versions of those characters.
Costume C: Reach the 1st Dan rank in Quest Mode.
Costume D: Complete the first orb disc in Guest Mode.
Finish the Time Attack mode to unlock the Dojo Stages.
Beat Arcade Mode with every character.