Fidelcrest Prop Trading Firm Review

Spreads and Commissions

Although no longer in operation and we suggest checking out our IC Funded Review or OANDA Review, Fidelcrest provided Raw spreads which they advertised as starting from as low as 0 pips. We tested the spreads ourselves when they were operating and we can confirm they are tight, but somewhat higher with major pairs like EUR/USD starting from 0.2 pips. We can also confirm that Fidelcrest didn’t charge any commission fees.

Qualification and Rules

When you took the Fidelcrest trading challenge you needed to pass two phases to get a funded account. The first phase was called the ‘Trading Challenge’ while the second is called the ‘Verification’. These stages were designed to show the Fidelcrest that you are capable of earning a profit so obviously you needed to make sure you are well acquainted with all concepts of prop trading. If you can passed both of these, then you became a Fidelcrest Trader.

Both challenge phases required you to follow exactly the same rules but depending on whether you have selected a Pro Trader program or a Micro Trader program. Additionally, if you selected a ‘normal’ or ‘aggressive’ account, these metrics again will be slightly different.

Pro Trader Program

For the Pro Trader Program, the rules you needed to follow are:

• Avoid a maximum loss of 10% (20% for Aggressive)
• Avoid a maximum daily loss of 5% (10% for Aggressive)
• Reach a profit target of 10% (20% for Aggressive)
• Complete the challenge within 60 days

Micro Trader Program

For the Micro Trader Program, the rules were similar but differed slightly when it came to profit targets – phase one for the ‘Trading Challenge’ was 10% for Normal accounts and 15% for Aggressive accounts. For phase 2 ‘Verification’, profit targets were 5% for Normal accounts and 15% for Aggressive accounts.

Maximum Trading Days

While there was a 60 day time limit for each challenge, Fidelcrest didn’t allow you to take unlimited retries without a charge, so long as you didn’t breach either of the maximum loss restrictions.

Fidelcrest Trader

If you were successful in obtaining a funded ‘Fidelcrest Trader’ account then you were once again needing to avoid the same maximum loss targets (which are the same for both Pro and Micro programs), although you didn’t need to hit a profit target to withdraw funds.

Specifically, the rules were:

• Avoid a maximum loss of 10% (20% for aggressive)
• Avoid a maximum daily loss of 5% (10% for aggressive)

In addition to the above, you needed to trade at least once every 30 days to avoid your account being closed. When it comes to profit withdrawal, you needed to trade at least once per 10 separate days to request a withdrawal.

Accounts, Funding Levels and Scaling

As mentioned, with Fidelcrest, you had the option of choosing either a Pro Trader Program or a Micro Trader Program. Within either of these programs you could have selected a Normal or Aggressive account type, yet the prop firm no longer operations and not accepting new clients.

Pro Trader Program

On the Pro Trader plan with Fidelcrest, there were 3 funding levels to choose from. For the Normal account, funding started at $250,000 and increased to $500,000, then $1,000,000. With the opportunity for scaling up to 1 million, Fidelcrest had one of the larger funded trader programs. Pricing for each of these funding levels was €999, €1899 and €2999 respectively.

If you selected the Aggressive account then you only had the $250,000 and $500,000 options which cost €1899 and €3499 respectively. The key difference was the profit split which is 90% rather than 80%.

Micro Trader Program

For the Normal account, this trading plan also had 3 funding levels starting from $15,000, $30,000, and $60,000. It was an 80% profit split across all and the rules were standardised. The only metric that changed is the audition price which was €99, €199, and €299 respectively.

Like the Pro Trader Program, for the Aggressive account, the profit split was 90% but the funding levels were the same as the Normal account, so you only had access to the $15,000, $30,000, and $60,000 levels. Prices for these are €199, €299, and €399 respectively.

Scaling Plan

With Fidelcrest’s scaling program you had the opportunity to increase your capital by 25% every 3 months. To qualify for this, you needed to secure a 15% profit across 3 consecutive months (an average of 5% growth per month). The maximum your account could scale up to was 100% of your starting capital, so theoretically you could scale up to $2 million.

Add Ons

You could also buy various add ons which differed their offering, we found in our DNA Funded Review this prop firm is following suit. Specifically, you could purchase insurance, double leverage, or double capital for +30%, +20% and +50% of the purchase price respectively.

While double leverage and capital are self-explanatory, purchasing insurance allowed you to resit the audition if you failed for less than the normal price.

Payment Methods and Payouts

Fidelcrest had a comprehensive range of payment methods, including Visa/Mastercard, bank transfers, third-party fiat wallets, and cryptocurrency wallets. This meant there was likely be a payment solution regardless of preference or geographic location.

Payouts

When it comes to getting paid, Fidelcrest processed payments automatically and you could opt to receive the funds via Wire transfer, PayPal, or PaySafe which includes e-wallets like Skrill and Neteller.

Withdrawals were available once every 10 days in the Funded Phase but in order to be eligible, you needed to trade at least once on each of these days (they didn’t need to be consecutive). Once you placed a withdrawal request, it typically took 1-3 days for the funds to arrive.

There was no minimum withdrawal amount, but if you withdrew to a bank account outside of the SEPA area then you incurred fees of up to €50.

Trading Platforms

Fidelcrest was compatible with both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) which are two of the most popular and widely used trading platforms in the world for forex, commodities and equity trading.

MetaTrader 4

MT4 is renowned for its solid charting capabilities, technical analysis tools, and support for automated trading through Expert Advisors (EAs).

Additionally, MT4’s MQL4 programming language enables traders to develop custom indicators and automated trading strategies. MT4 also offers a versatile mobile app, allowing traders to monitor and manage their positions on the go.

MetaTrader 5

While less popular than MT4, MT5 provides several enhancements when it comes to additional order types, technical indicators, and an economic calendar. Additionally, MT5 also supports a wider range of financial instruments including stocks, options and futures.

Moreover, it allows for more in-depth market analysis with 21 timeframes and up to 100 charts open simultaneously. MT5’s MQL5 programming language enhances algorithmic trading capabilities, making it more versatile for traders and developers alike.

Markets and Leverage

Fidelcrest had a decent range of markets to trade with over 50 forex pairs, 53 stocks, 11 indices and 17 cryptos. They didn’t have much by way of commodities however with only gold, silver and oil available to trade.

Leverage

Leverage was capped at 1:100 which is fairly substantial, but you could purchase a double leverage add-on at checkout which means you can wield significantly more.

Customer Service, Tools and Education

Fidelcrest customer service is no longer available as the prop firm no longer exists. Below are the trading tools the prop firm used to provide.

Tools

Fidelcrest had various tools available within their trader’s dashboard, but in our view, they were pretty basic. For example, their economic calendar didn’t have a ranking system for high-impact news which is a pretty important filter.

To be fair, you could subscribe to an email which sends you high impact news, but we still think the calendar could’ve used some improvements.

The prop firm also had a risk calculator which is functional but equally basic.

The Volatility Tool was the most interesting of the three where you could select from the list of assets within the dashboard and see a breakdown of the intra-day and intra-week price movement range.

Education

The educational resources were limited with Fidelcrest which were a problem. They did offer analysis via Autochartist, but to be clear it wasn’t Fidelcrest proprietary material.

Market reports

Fidelcrest did provide various market reports which we subscribed to, but we found them to be pretty basic as there wasn’t much insight to be gleaned, other than the Autochartist charts.

Trust and Community

Fidelcrest was known for an ‘Excellent’ ranking on Trustpilot and the reviews were suspiciously positive.

Community

Fidelcrest had an online community of approximately 4,600 members with 345 online at the time of writing this review.

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How to Sign Up with Fidelcrest

You can no longer sign up with Fidelcrest, the prop firm has ceased operations.

Our Final Verdict On Fidelcrest

You can no longer prop trade with Fidelcrest.