Being a prop trader is becoming an increasingly popular method to trade with lower risk and bigger volume. Prop trading company Fidelcrest LLC has great training programmes and a committed support staff. For more on how to become a funded trader with Fidelcrest and the features they provide, please take a look at my Fidelcrest review.
Who are Fidelcrest?
Having enough capital to trade with in order to make sizable profits and be able to professionally engage in online trading is one of the main issues that most traders face. Fidelcrest is a proprietary trading firm with its headquarters in Nicosia, Cyprus, that was founded in 2018 by a team of traders and Forex professionals.
The company’s business model is based on finding, developing, and evaluating traders in a variety of markets, including Forex, CFDs on Stocks, Indices, Metals, and Cryptocurrencies, and then offering them the chance (to those who pass the evaluation process) to manage a sizeable capital belonging to the prop firm Fidelcrest in exchange for a cut of the profits they can produce.
Despite not being as well-known as other prop trading firms like FTMO or TopstepTrader, throughout the course of its history, Fidelcrest has been able to win the trust of over 6000 traders from a wide range of nations, who have given it good reviews.
For instance, Fidelcrest allows you to manage a funded trading account of up to $1 million right out of the box, without having to go through complicated scaling systems, and it offers one of the biggest profit splits in the business, ranging from 80% to 90%.
Currently, Fidelcrest provides two funding options (Micro Trader and Pro Trader) as well as two trading approaches (Normal and Aggressive).
With the least expensive account, you can trade a capital of €10,000 for just €99; there are no more recurring payments required because this is a one-time payment.
What do Fidelcrest do?
Fidelcrest operates under the proprietary trading company model. In other words, it sends its capital to expert traders for management while keeping a portion of the profit generated by their trading activities. As a result, everyone involved in the contract benefits: the company makes money off of subscription fees and transactions, and a trader without a fund reserve can utilise a lot of funds for trading.
There are two steps to take in order to obtain Fidelcrest capital. The Trading Challenge is the first and lasts 30 days. The trader must adhere to the trading standards for profit and loss amounts. The trader then moves on to Phase 2, or verification. It has stricter conditions that must be satisfied in 60 days. If the trader succeeds in completing the tasks, they will get Fidelcrest capital in management and be eligible to withdraw up to $30,000 in fiat money from their initial deposit.
You can avoid losing all of the cash provided by the company because Fidelcrest protects client losses up to the specified maximum limitations. A trader can have access to the management of real capital up to $1 million based on the outcomes of successful trading. This sum doubles to $2 million if the trader operated in an aggressive manner.
Fidelcrest gives preference to traders that execute trades manually and independently of automated trading software. However, if an investor uses a trading robot or expert advisor, the corporation may, in its sole discretion, offer an exception. The trader must ask the support service for authorization to connect them.
The practise of copy trading is not permitted at Fidelcrest. Additionally, the business prohibits replicating other traders’ transactions and giving a user’s account to a third party for trading purposes.
Payments can be made to Fidelcrest using credit cards, digital wallets, bank accounts, and cryptocurrencies. Although the client pays the subscription cost in euros, they have access to US dollars. The currency is initially only virtual; but, following assessment and verification, it is transformed into actual money.
They use various forex brokers, which provide the MetaTrader terminals and leverage of up to 1:100, is used to carry out trades. Fees begin at zero dollars, and unprocessed spreads start at zero pip. There are four different varieties of trading accounts.
Trading in CFDs is available to traders who sign up as Fidelcrest clients. These traders can trade currency pairs, cryptocurrencies, equities, indices, commodities, and metals. Regular retail traders now have the chance to become skilled capital managers and trade in the most advantageous environments thanks to Fidelcrest.
You can select a risk mode, such Normal or Aggressive, for each of Fidelcrest’s Micro Trader and Pro Trader accounts. The amount of the given deposit, the necessary drawdown levels, and the goal profits vary between accounts. Bonuses offered by aggressive risk accounts include a second free account, an accelerated mode, and capital doubling. The trader obtains 80% of the return for trading at Normal risk and 90% for dealing at Aggressive risk after securing complete financing (Phase 3).
Each of the accounts offered in the first and second phases is intended for training purposes only; they do not convert to real accounts until the trader has been profitable for 90 days.
Accounts from Fidelcrest are available with various subscription costs and virtual deposit amounts. Depending on their risk tolerance and the available funds, the trader can select the best alternative.
Based on experience, risk, and investment, 13 different types of accounts are offered by Fidelcrest. All accounts provide access to more than 1,000 financial products and leverage trading up to 1:100. Two primary trading platforms exist:
Smaller account sizes make a perfect choice for getting started, testing your strategy, and honing your risk management abilities. The least expensive account costs €99, while the most expensive one costs €199 and allows you to trade with up to $20,000 in credit.
You can utilise the ProFX+ accounts to make investments worth up to $400,000 if you are an experienced trader with financial resources. The range of account fees is €349 to €1,499 For the Challenge and Validation, you will have larger profit goals than the MicroFX+ accounts, but you will also have access to higher profits.
Both applications provide accounts that are Normal and Aggressive. Although more losses are permitted with aggressive accounts, you must make bigger earnings and pay more fees. Before opening a new account with Aggressive, be certain that you are comfortable with your abilities.
You only need to acquire a Challenge account and successfully complete it in order to prop trade for Fidelcrest. No monthly fees or minimum profits are necessary. Costs for enrolment begins at €99.
The process of withdrawing money from Fidelcrest is simple. Any profits made after each 30-day trading term will be deposited in your Wallet. There is no minimum payment necessary to request a withdrawal, and it will be processed within three business days of your request. There is a €50 cost for transfers to bank accounts outside of the SEPA area, which includes the EU, the UK, and other nations. By purchasing your Challenge account using Bitcoin, you can stay away from this.
You are eligible to receive up to 80% of any earnings at the conclusion of the 30-day trading term because Fidelcrest does not impose a monthly account fee. You are not required to pay anything if you have a professional account and you lose money. You might use this as an opportunity to enhance your plan for the following trading season. Your account will be closed if your loss exceeds the cap outlined in the regulations.
Is Fidelcrest a legit company?
Yes, Fidelcrest is a legitimate prop trading organisation that, after you have demonstrated your abilities on a demo account, allows you to invest company funds. Thousands of traders from around the world are active on the platform.
Conclusion: is Fidelcrest a good prop trading firm?
In the prop trading industry, Fidelcrest has among of the largest profit-sharing plans. Aspiring investors must pass a rigorous validation procedure at the business. A cautious read before you sign up should help you avoid any shocks, even though the company has received some criticism for its strict trading restrictions. I feel this can help users to become better and less reckless traders.
You can prove your investment prowess in the Fidelcrest Trading Challenge by making a certain amount of money on a practise account. Once accomplished, a financed verification step must be finished. After that, you receive a professional account with the ability to retain up to 90% of revenues.
- One of the top prop trading firms
- Good variety of accounts to choose from
- Great selection of brokers and trading instruments
- Financing of up to $2 million is available
- Profit share can reach 90%
- Do not need to risk your own capital
- Excellent customer support
- 5% profit target in phase 1 and phase 2 (Micro Trader accounts)
- Various withdrawal options
- The ability to trade with leverage
- 30-day trading period limits long term investments
- Strict trading criteria to follow
- Limited educational material and tools compared to other prop trading firms
- Two-phase evaluation process, which makes it longer and can take up to 90 days
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.