We liked the straightforward prop trading conditions with Fidelcrest. The prop firm rules are easy to understand, you can use MT4 or MT5 trading platforms and have up to $1,000,000 in funding with a 80/20 or 90/10 profit split.
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We think if you’re looking for a simplistic prop trading firm with easy-to-understand rules, the familiar MetaTrader 4 and MetaTrader 5 platforms along with starting up to $1,000,000 in capital and an 80/20 or 90/10 product split, then Fidelcrest could be the one for you. The prop trading space is competitive and some firms have overly complex accounts so we think the straightforward approach of Fidelcrest is refreshing, for this reason, we rated them an 8/10.
Established in 2018 and located in Cyprus, Fidelcrest operates essentially as an ‘introducing’ prop firm where they evaluate you based on your skill, and then refer you to a third party.
Firstly, we think it’s great that you can obtain $1,000,000 in funding from the outset with this proprietary trading firm, and you can obtain up to $2,000,000 via their scaling plan. It’s important to note however that the Fidelcrest trading challenge is a 2-step process which we’re not huge fans of.
While this negative is partially offset by the fact you can get up to a 90% profit split, there’s also a 60 day time limit to complete your challenge period.
To be clear, you can get unlimited free retries assuming you don’t breach any rules, but we can’t overstate that both trading time limits and a 2-step audition process undeniably stack the odds of success against you.
There are several other attractive features that stand out for us including the fact there is no minimum trading day requirement in either of the challenge phases, and no need to have a set number of minimum positive trading days to pass.
Additionally, as a prop trader with Fidelcrest, you’re allowed to hold positions overnight and over the weekend. There are also no restrictions when it comes to trading news events or utilising copy trading strategies, although Fidelcrest does seem to be more discerning than other prop firms when it comes to using EAs.
We also like that there are several add-ons that you can purchase at the checkout. These include the ability to access double leverage to a massive 1:200, double your starting capital, and insurance, which will allow you to resit the challenge again if you fail.
Finally, we think Fidelcrest’s pricing is attractive with a $250,000 Normal account on a Pro Trader Program costing just €999 while their $1,000,000 costs €2999.
Overall, while we much prefer prop firms with single-step challenges and no time limits, we think Fidelcrest have a decent offering for retail traders and are attractive from a cost perspective.
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.
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:
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:
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.
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.
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.
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.
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.
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.
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.
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.
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.
