Maybe you’re wondering, “Is FidelCrest a scam or legit?” It’s a good question, and I’m here to shed some light on it. FidelCrest is a Proprietary Trading Firm; many see it as safe and trustworthy.
But here’s the thing: just like in life, no company is perfect. FidelCrest has its good points, but there might be reasons you’re thinking about other options.
Are you curious which funded forex trading accounts could be better? Stick around. Let’s dive deeper into this Fidelcrest review to know more about what the prop firm offers, so you get a clearer picture.
Pros and Cons of Fidelcrest
A wide range of trading accounts.
Maximum leverage of 1:100.
A plethora of financial instruments.
They aren’t a regulated broker.
A set 30-day trading period.
No direct phone support.
FidelCrest Trading Features
Depending on how much you want to start with, the cost varies. Here’s a quick breakdown:
10k balance: €99 (MicroTrader)
25k balance: €249 (MicroTrader)
50k balance: €449 (MicroTrader)
150k balance: €649
500k balance: €1,599
1m balance: €2,699
How much do you get to keep from your profits? Micro Trader and ProTrader accounts get 80% if you use the Normal risk strategy. For those who like to live on the edge with an Aggressive risk strategy? It’s 90%.
Here’s a thing to remember: Fidelcrest has a two-step process you need to pass to become one of their funded traders.
The goal? For Phase 1 and 2, it’s 10% if you’re in Normal Mode and 20% in Aggressive Mode.
Maximum Drawdown (MDD)
In Normal Mode, it’s a 5% daily loss and a 10% total loss. If you’re in Aggressive Mode, those numbers scale to 10% and 20%, respectively.
The Fidelcrest Challenge lasts 60 days.
They give you up to 1:100 leverage, even if you’re from the US, Canada, or the EU.
You can trade in Forex, CFDs, Cryptos, Metals, Commodities, and Stocks.
Allow Trade News
Yes, News trading is allowed.
You can keep your trades going overnight, over weekends, or even holidays with FidelCrest. Just remember to close them before the 60-day period ends.
What Makes Fidelcrest Stand Out?
Multiple Trading Instruments
Their platform lets traders pick from over 175 trading instruments. So, this platform might interest you if you’re an active trader looking to delve into forex, stocks, or commodities.
And for those of you who are about leveraging, they offer up to 1:100. What’s more? They’ve got a user-friendly interface to help you keep track of your trading performance.
Ward winning Firm
But, the most striking part? They’ve been recognized as the Best Proprietary Trading Firm in the UK for two consecutive years. But every skilled trader knows not to get swayed solely by accolades.’
Unlike many prop firms, Fidelcrest boasts an incredible maximum initial funding of $400,000. It’s worth noting that while this large sum might appear attractive, there’s an associated fee of $1,499 to undertake the initial trading challenge. So, for you, the diligent trader, it’s essential to understand that while the potential is vast, it’s not a guaranteed path to succeed.
Capital Scaling Program
Beyond the initial capital, you might find Fidelcrest’s capital scaling program particularly enticing, especially if consistent returns are your forte. Here’s a simple breakdown:
Achieve a 15% gain on your capital within three months.
Ensure each month within this period is profitable, translating to an average return of 5%.
Upon completion, your capital gets a 25% boost every three months.
Though the growth rate is astonishing, it’s essential to know that this scaling is capped at a whopping $800,000.
Key Features of Fidelcrest
Retail Traders Friendly
This instant funding prop firm is designed to keep you, the retail trader, in mind. Their approach is structured to give you the tools and opportunities to grow.
Defined Risk Parameters
Every trading activity comes with its share of risks. Fidelcrest is transparent about its daily loss limit and what it considers normal risk.
Robust Customer Support Team
A reliable team is essential, especially when dealing with significant capital. Fidelcrest ensures that its customer support team guides and assists you throughout.
Variety of Tradable Assets
The variety from forex to other assets ensures ample opportunities to implement your trading strategies.
Trading Days and Periods
Fidelcrest has a 30-day trading period policy, ensuring you know your operating timeframe.Requirements and Challenges
The initial trading challenge tests seasoned traders and evaluates their trading progress. Understanding these requirements is crucial in swing trading or other trading activities.
A Quick Comparison with City Traders Imperium
It’s often compared to other big names like City Traders Imperium. Both have unique offerings, but for those looking for higher capital and scaling opportunities, Fidelcrest might appear more attractive.
Are You the Right Fit for Fidelcrest? Whether you identify as a micro trader, prop trader, or advanced trader, the real question is, are you ready to take on the challenge?
If consistent growth, meeting trading requirements, and scaling your trading capital are within your realm of expertise, Fidelcrest might be the platform for you. However, always remember that while the growth potential is immense, so are the challenges.
Wrapping Up: Is Fidelcrest The Best Prop Trading Firm
Navigating the world of forex traders and prop firms can be overwhelming; however, you can make informed decisions with the right information and understand what different platforms like Fidelcrest offer.
If you’re an ambitious trader with the skills and discipline to match, diving into the opportunities presented by Fidelcrest might be a game-changer for your trading journey.