Fidelcrest Prop Trading Firm Review

Spreads and Commissions

Fidelcrest provides you with RAW spreads which they advertise as starting from as low as 0 pips. We tested the spreads ourselves 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 doesn’t charge you any commissions.

Our Verdict on Spreads and Commissions

Fidelcrest provides fairly tight spreads and no commissions, making them an attractive choice overall, although you can find tighter spreads with some other prop trading firms and prop firms. Overall however, we scored them well for this section.

Qualification and Rules

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

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

Pro Trader Program

For the Pro Trader Program, the rules you need 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 are similar but differ slightly when it comes to profit targets which for the phase one ‘Trading Challenge’ is 10% for Normal accounts and 15% for Aggressive accounts. For phase 2 ‘Verification’, profit targets are 5% for Normal accounts and 15% for Aggressive accounts.

Maximum Trading Days

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

Fidelcrest Trader

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

Specifically, the rules are:

• 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 will also need to trade at least once every 30 days to avoid your account being closed. When it comes to profit withdrawal, you need to trade at least once on 10 separate days to request a withdrawal.

Our Verdict on Qualification and Rules

Overall, we think Fidelcrest provides a good and simplistic 2-step audition that has the same profit and loss targets/limit throughout, making things very easy to understand from the outset.

While a maximum daily loss of 5% isn’t as generous as some other prop firms, it’s not by any means unreasonable.

We also like that they have an aggressive option which might be a good choice if you are an experienced trader, or if you use strategies with larger account drawdowns.

Our only issue with the rules and qualification process is that there are time limits imposed, although you can get unlimited retries for free as long as you don’t breach any rules.

Accounts, Funding Levels and Scaling

As mentioned, with Fidelcrest, you have the option of choosing either a Pro Trader Program or a Micro Trader Program. Within either of these programs you can select a Normal or Aggressive account type – we break down the key differences below.

Pro Trader Program

On the Pro Trader plan with Fidelcrest, there are 3 funding levels to choose from. For the Normal account, funding starts at $250,000 and increases to $500,000 and $1,000,000. With funding up to 1 million, Fidelcrest has one of the larger funded trader programs. Pricing for each of these funding levels is €999, €1899 and €2999 respectively.

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

Micro Trader Program

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

Like the Pro Trader Program, for the Aggressive account, the profit split is 90% but the funding levels are the same as the Normal account, so you only have 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 have the opportunity to increase your capital by 25% every 3 months. To qualify for this, you need to secure a 15% profit across 3 consecutive months (an average of 5% growth per month). The maximum your account can scale up to is 100% of your starting capital, so the highest amount you can theoretically obtain is $2,000,000.

To get started with the scaling plan, all you need to do is contact their customer support.

Add Ons

You can also buy various add ons which we think adds a nice point of difference to the offering. Specifically, you can 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 will allow you to resit the audition if you fail for less than the normal price.

Our Verdict on Accounts and Funding Levels

We think Fidelcrest has a good selection of accounts and funding levels to suit various trading strategies and experience levels.

If you’re just starting out, then you can consider a Micro Trader trading plan. If you’re more experienced and run strategies that incur larger drawdown amounts, then you can opt for an Aggressive account on a Pro Trader trading plan.

The amount of funding available is certainly impressive with $1,000,000 possible from the outset and up to $2,000,000 possible with scaling. Pricing for the various accounts on offer is highly competitive and the account add-ons are a nice touch.

Overall, we scored Fidelcrest well for this section.

Payment Methods and Payouts

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

Payouts

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

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

There is no minimum withdrawal amount, but if you withdraw to a bank account outside of the SEPA area then you will incur fees of up to €50.

Our Verdict on Payment Methods and Payouts

Fidelcrest offers a diverse range of payment methods and processes transactions every 10 days which is pretty quick. As such, we scored them well for this section.

Trading Platforms

Fidelcrest is 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 robust charting capabilities, technical analysis tools, and support for automated trading through Expert Advisors (EAs). It’s important to note that while you can use EAs for the Fidelcrest challenge, you do need to speak to the team first to get it cleared.

Additionally, MT4’s MQL4 programming language enables traders to develop custom indicators and automated trading strategies, both of which are fine to use with Fidelcrest. 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.

Our Verdict on Platforms

MetaTrader 4 and MetaTrader 5 are both powerful trading platforms and given Fidelcrest offers access to forex, stocks, crypto and commodities, you will be able to select whichever platform suits you best.

As such, we scored Fidelcrest well for this section.

Markets and Leverage

Fidelcrest has a decent range of markets to trade with over 50 forex pairs, 53 stocks, 11 indices and 17 cryptos. They don’t have much by way of commodities however with only gold, silver and oil available to trade. You will be trading using CFDs rather than futures which some firms like the Trading Pit and TopStep offer.

Leverage

Leverage is capped at 1:100 which is fairly substantial, but you can purchase a double leverage add-on at checkout which means you can wield significantly more. It goes without saying that leverage can be very dangerous, but nonetheless it’s there for you to use as you see fit.

Our Verdict on Markets and Leverage

Fidelcrest provides a decent selection of markets to trade, although they are lacking a bit when it comes to commodities and metals. Overall however, there’s a good selection of cryptos to trade and a solid number of forex pairs and stocks available. Consequently, we scored Fidelcrest well for this section.

Customer Service, Tools and Education

Fidelcrest customer service is very quick to answer via their live chatbot. While you don’t get to speak to a human immediately, within a few seconds the bot will connect you. You can also speak with the customer service team via email or raise an online enquiry via web form.

Tools

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

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

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

The Volatility Tool in our view is the most interesting of the three where you can 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 are limited with Fidelcrest so if this is a prerequisite for you, then it might be a problem. They do offer analysis via Autochartist, but to be clear it’s not Fidelcrest proprietary material.

Market reports

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

Our Verdict on Customer Service, Tools and Education

While Fidelcrest has an excellent customer service experience, they don’t perform so well when it comes to tools and education as they are either basic or non-existent. As such, we scored Fidelcrest modestly overall for this section, but to be clear, their customer service is good.

Trust and Community

Fidelcrest has an ‘Excellent’ ranking on Trustpilot and the reviews are overwhelmingly positive. Additionally, they also provide their company details on their website including registration number and tax number, so they receive extra points for transparency.

Community

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

While full access including to the chat is only available with a funded account, you can still view the leaderboard and details about the trading challenges.

On Facebook, Instagram and Twitter, Fidelcrest has relatively small followings but they do garner decent engagement. Importantly, we couldn’t see many negative comments which is another good indication that Fidelcrest runs a legitimate operation that is serving customers well.

Our Verdict on Customer Service, Tools and Education

We think Fidelcrest’s reviews on Trustpilot and social media are undoubtedly positive for the prop firm. While they have fairly small followings and muted engagement, we still scored them well for this section.

How to Sign Up with Fidelcrest

Setting up with Fidelcrest is simple and takes just a few minutes. We have outlined the specific steps you need to take below.

Set up an account – click sign up in the top right-hand corner

Verify your email – look out for the confirmation email in your inbox

Log into the client portal – click log in in the top right-hand corner

Select ‘Fidelcrest Challenge’ – choose the desired account mode, program and funding etc

Billing information and Payment – fill out the required billing information and then select a payment type

And that’s it! You’ll get processed with a Funded Account and you will be able to start the trading challenge.

Our Final Verdict On Fidelcrest

Overall, we think Fidelcrest provides a decent offering with simplistic rules. They have good variation when it comes to funding levels and you can get $1,000,000 from the very outset.

Our biggest gripe with the offering is the fact that they require a 2-step challenge which also has a time window, but as far as prop firms of this nature go, it’s not overly prohibitive, especially as you can request a free retry (assuming you don’t breach any rules).

We think their pricing is also very competitive and we like the account customisations you can purchase at checkout.

While they don’t have much in the way of educational materials or trading tools, we think Fidelcrest provides a decent offering overall.

As a result, we scored them an 8/10 for this Fidelcrest review which makes them one of the better prop firms you can choose.