In the world of financial markets, traders are constantly seeking opportunities to showcase their skills and earn substantial profits. Proprietary trading firms offer such opportunities to traders, enabling them to trade with the firm’s capital and share in the profits. Fidelcrest and FTMO are two well-known proprietary trading firms that have gained popularity among traders. In this article, we will conduct a comprehensive comparison of Fidelcrest and FTMO, examining their features, trading evaluation processes, costs, benefits, and overall reputation within the trading community.
Overview of Fidelcrest and FTMO
Fidelcrest
Fidelcrest is a Finland-based proprietary trading firm that allows traders from around the world to access its trading programs. It aims to provide traders with an opportunity to trade various financial markets using the firm’s capital. Fidelcrest offers different account levels, each with specific requirements and profit-sharing structures.
FTMO
FTMO, on the other hand, is a Czech-based firm that follows a similar business model. It offers traders the chance to trade with the firm’s capital while keeping a portion of the profits. FTMO offers a few account types, with the primary ones being the FTMO Challenge and the FTMO Verification.
Trading Evaluation Process
Fidelcrest
Fidelcrest provides traders with a straightforward evaluation process. Traders need to pass a series of stages, starting from the Trial level and advancing to the Professional level. To advance to each stage, traders must meet specific profit targets and follow risk management guidelines. While the evaluation process is not excessively challenging, it still requires traders to exhibit consistent performance and risk management skills.
FTMO
FTMO’s evaluation process involves two main stages: the Challenge and the Verification. In the FTMO Challenge, traders must reach a predefined profit target while adhering to certain drawdown restrictions. Upon successful completion, traders progress to the Verification stage, where they face similar requirements but with a higher profit target. FTMO’s evaluation process is more stringent than Fidelcrest’s, making it essential for traders to display excellent trading skills and discipline.
Costs and Funding
Fidelcrest
Fidelcrest charges traders a one-time registration fee to participate in their funded forex trading programs. Once registered, traders can choose the account level that suits their needs, and each level has different fees and profit-sharing structures. Traders can start with a relatively small capital allocation and then progress to higher levels as they demonstrate consistent profitability.
FTMO
FTMO has a straightforward cost structure as well. Traders need to pay a fee for participating in the Challenge, and if they succeed, they pay a separate fee for the Verification. However, unlike Fidelcrest, FTMO provides traders with a predefined capital allocation once they pass the evaluation process successfully.
Profit-Sharing and Withdrawals
Fidelcrest
Fidelcrest has a profit-sharing model that rewards traders for their performance. The more capital you trade with and the more profits you make, the higher your profit share will be. You can get up to 90% of the profits you generate at the highest account level. You can also withdraw your profits regularly, as long as you meet the minimum amount of $100. Fidelcrest will process your payouts within 5 business days after you request them.
FTMO
FTMO is a trading firm that offers traders a chance to trade with its capital. Traders need to pass a two-stage evaluation process, called the Challenge and the Verification, to get a funded account. The profit split between traders and FTMO ranges from 70/30 to 90/10, depending on the account size and the trading plan. Traders can withdraw their profits every month, or on-demand after 14 days of trading, with no minimum amount required. FTMO pays the profits within 2 business days by bank wire, Skrill or cryptocurrencies. FTMO does not impose any profit target for its funded traders, only a maximum loss of 10% of the account balance. The profit target for the Challenge is 10% in 30 days and for the Verification is 5% in 60 days.
Risk Management and Drawdown Limits
Fidelcrest
Fidelcrest emphasizes the importance of risk management throughout its evaluation process. Traders must follow specific drawdown limits at each account level, which helps protect both the trader’s capital and the firm’s resources. Adhering to these risk management guidelines is crucial for traders to advance through the evaluation process successfully.
FTMO
FTMO places significant emphasis on risk management as well. Traders must adhere to predefined drawdown limits in both the Challenge and the Verification stages. The drawdown limits are designed to ensure that traders can manage risk effectively and protect the capital provided by the firm.
Reputation and Community Support
Fidelcrest
Fidelcrest has garnered a positive reputation among traders for its transparent and straightforward evaluation process. Traders appreciate the flexibility in choosing account levels and the opportunity to progress as they grow their trading skills. Additionally, Fidelcrest boasts an active community of traders who exchange ideas and support each other through the evaluation process.
FTMO
FTMO has also built a strong reputation within the trading community. Many traders have praised the firm for its fair evaluation process, timely payments, and transparent policies. The company’s active social media presence and regular updates further contribute to its credibility and trustworthiness.
Pros and Cons
Fidelcrest
Pros
- Multiple account levels with flexible capital allocations
- Transparent evaluation process
- Active trader community for support and knowledge sharing
Cons
- Profit-sharing percentage may start lower for lower account levels
- Registration fee may be a barrier for some traders
FTMO
Pros
- Well-defined evaluation process with a funded account upon success
- Favorable profit-sharing percentage and flexible withdrawals
- Positive reputation and community support
Cons
- Stricter evaluation process may be challenging for some traders
- Fees for the evaluation process could deter some potential participants
Conclusion
Both Fidelcrest and FTMO are reputable proprietary trading firms that offer traders the chance to access capital and profit from their trading skills. While they share similarities in their business models, there are key differences in their evaluation processes, cost structures, profit-sharing models, and withdrawal policies.
Traders considering participation in these programs should carefully assess their trading skills, risk tolerance, and financial capacity before choosing the most suitable firm. Additionally, researching each firm’s community support and reputation can provide valuable insights into the overall experience and satisfaction of traders who have already participated in their programs.
Ultimately, both Fidelcrest and FTMO provide valuable opportunities for traders seeking to showcase their abilities in the financial markets and benefit from proprietary trading arrangements. By understanding their unique features and evaluating their individual strengths and weaknesses, traders can make an informed decision that aligns with their trading goals and aspirations.
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.
