- Who Are Fidelcrest?
- Getting Funding From Fidelcrest
- What Makes Fidelcrest Different From Any Other Prop Firm?
- Is Getting Fidelcrest Funding Realistic?
- Fidelcrest Reviews – What Are Traders Saying?
- Education And Support For Traders
- Conclusion – Is Fidelcrest Just A Scam?
- UP TO $400,000 IN FUNDING
- SCALING PLAN UP TO $800,000
- UP TO 80% PROFIT SPLIT
- LOW FUNDING OPTION FOR NEWER TRADERS
- 1:100 LEVERAGE
- NOT A GREAT REPUTATION
- FAIRLY STRICT TRADING CONDITIONS
- NO EDUCATION OFFERED
Are you looking to take on funding for your forex trading journey? Prop firms are a great way get quick access to large amounts of trading capital, without needing to find investors yourself or have years of track record behind you.
Fidelcrest is one of the worlds largest forex trading prop firms, founded in 2018 and offers traders up to $400,000 in funding.
They have a really interesting trading model and we have done extensive research into Fidelcrest to see if they’re the best prop firm for you! Let’s find out more..
Who Are Fidelcrest?
Fidelcrest is a prop firm founded in 2018, which has been getting a fair amount of coverage online over the last few months as prop firm trading has really found legs in the forex community. They offer the largest profit share ratio in the industry, with you keeping up to 80% of your profits on the trading account.
Fidelcrest is owned by the Fidelcrest Group of Companies, and is registered in Cyprus, with offices also in Budapest. They cater to less advanced traders as well, with the lowest funding option starting at just $5000, which is a very low barrier to entry for newer traders that aren’t ready to manage such large funding.
This company is a little more complex and complicated in their phases than the likes of FTMO, but definitely a strong contender!
With an 80% profit share on the Aggressive Accounts, it sounds like a no-brainer for budding forex traders! Let’s have a look at the finer details to see if Fidelcrest is really as good as it sounds…
Getting Funding From Fidelcrest
Fidelcrest offers essentially 4 different account types for traders to choose from. This starts with the Micro accounts. If you choose to trade the Micro accounts, you’ll have a range of $5000-$20,000 to manage, depending on which funding option you decide on. These come with a one off fee of course, starting at just $99 making it one of the cheapest firms in the market.
They also offer Pro accounts, which start at $50,000 and work all of the way up to $400,000 under management. This is absolutely huge and as far as I am aware, the largest account you can purchase from a prop firm in the world right now. Other companies like 5%ers will scale your capital up into the millions, but in terms of starting account balance, this will be the most you’ll find!
Both of the account options come with 2 options, either Normal or Aggressive. They’re fairly self explanatory in nature, if you’re a trader that has large PnL swings, typically larger drawdown but typically larger gains, you may want to opt for the Aggressive account option as this type of trading behaviour is allowed.
Your profit share goes up from 70% to 80% on the Aggressive option, with maximum drawdown increased to 20% and profit target also increased to 20%. The only drawback here is that compared to just the Normal account type, you will have to pay a higher initial fee for the account.
What Makes Fidelcrest Different From Any Other Prop Firm?
Fidelcrest is very similar to other leading prop funds in many ways and shares a lot of common traits with FTMO. However, what really sets Fidelcrest apart is just the huge amount of capital you are able to obtain if you pass the trading requirements.
They offer a maximum initial funding of $400,000! Now this size of account is going to cost you $1,499 in order to take the challenge, which you might not even pass – so it’s certainly not a guaranteed get rich scheme but for profitable and consistent forex traders it is a ticket to the big leagues. If you look at some of the other companies on our Best Forex Prop Firms List, you’ll see that now many of them can offer capital so high!
Not only is $400,000 of trading capital accessible, Fidelcrest, much like 5%ers, have a capital scaling program that you can be a part of if you are consistently making returns on your funded account.
The scaling plan is fairly straight forward. You need to achieve a 15% gain on your capital, within 3 months – with each of those 3 months being profitable. This is an average return of 5% per month and consecutively green months.
Should you be able to achieve this, they will increase your capital by 25% every 3 months. This is an insane rate of growth and is currently capped at a staggering $800,000!
It’s important to note that on the website it mentions the fact that the largest account currently being traded by retail forex traders is $400,000, meaning no one has managed to scale the largest account up to the full $800,00 yet!
Is Getting Fidelcrest Funding Realistic?
When looking at getting funded with prop firms, it can sometimes feel too good to be true so it’s important to understand how realistic it actually is to achieve the targets being set out by these companies.
As far as industry standards go, Fidelcrest is very competitive in regard to the levels of trading standard required to actually pass the challenge and verification stage.
If we take a look at the $50,000 Pro Account for $349, we can get a sense of the conditions we are trading with.
You can trade on MT4 or MT5 with a range of trading brokers and most importantly up to 1:100 leverage. This is in comparison to BluFx which only offers 1:3 leverage, making it harder for some traders to actually hit their profit targets.
Comparing the program information here, to some of the other prop firms like MyForexFunds – it’s fairly standard. I think this is extremely achievable for the majority of profitable forex traders and the ability to use any broker, with any trading instruments means your performance can’t be hindered!
The 3 step process for getting funded certainly seems very achievable for a profitable forex trader. Initially you have a 30 day trading period to reach a 10% profit target, with a maximum loss of 10% (5% maximum daily loss).
At this point, you fee is refunded and you move onto the next stage. You will again have 30 days to reach a profit of 10%, with a maximum loss of 5% (5% maximum daily loss) – during this stage you will keep 40% of the profit made.
Then you’re onto your funded account, where there is no fixed profit target, you just keep trading!
If you aren’t a fan of having to do a challenge, then a verification, there are companies offering instant funding. For this, I would recommend checking out MyForexFunds – if you’re in a hurry to get trading!
Fidelcrest Reviews – What Are Traders Saying?
If you’re a regular reader of FBR, you’ll know one of the ways we do due diligence on prop firms and brokers alike is to have a look at what other traders are also saying, incase our experience has been vastly different from theirs.
As we can see from Trustpilot, Fidelcrest have an Average rating of 3 stars out of 5. It’s worth pointing out that this is MUCH lower than the average rating of competitors in the industry like FTMO. I’d certainly advise shopping around our Best Prop Firms List before committing to this company.
There is a very strong mix of very positive reviews, traders praising the prop firm and being extremely happy with the service offered, to traders feeling cheated out of passing the challenge and even waiting for withdrawals to come.
As it stands, the overall reputation of Fidelcrest within the online forums really doesn’t appear that great as of right now, even though we have not had an issues with them or the customer service team.
Education And Support For Traders
Instead of using online resources like Babypips for forex trading education, some traders like to use education and related news provided by their brokers or prop firms, to keep them up to date with the latest industry trends.
Fidelcrest doesn’t really offer much in the way of education or supportive content for traders. They offer a backend area where you are able to track your trading statistics, which is of course very valuable when you are trading to strict deadlines and perimeters. They also offer an Economic Calendar, much like ForexFactory, as well as a margin calculator tool.
If we are ignoring educational content and looking at the customer support side of things, Fidelcrest have a 95% satisfaction rating over nearly 7000 reviews on their online support system, which is great to see.
Conclusion – Is Fidelcrest Just A Scam?
With all of the information we have gathered, we certainly have enough to make an informed decision as to whether Fidelcrest is the prop firm for us to be using, or if we should get funded elsewhere.
Let’s start with the fact that Fidelcrest is a legitimate company, offering a legitimate prop firm funding experience. They have a range of perks such as up to $400,000 in funding, 1:100 leverage on accounts, a range of platforms and a huge amount of tradable instruments where some other firms are lacking.
However, they don’t have the best reputation within the industry, at all. It only takes a look on Trustpilot to see that traders aren’t happy with the service they are getting, which some traders failing challenges for what they claim, never happened.
With that in mind, I would personally focus my time more with a prop firm like FTMO, that has a flawless reputation and a huge amount of pay out proof on YouTube from traders around the world.
I would personally advise having a look around at some of the other Top Prop Firms that have much better reputations at the minute.
Fidelcrest mention on their website that they currently have over 6000 active traders this year with funded accounts, so the firm is definitely growing! I think I will personally revisit them every few months to check for more positive feedback in the forums and when that starts rolling in, go for the $400,000 funding.
If you have any experience trading with this prop firm, please do let us know in the comments below, we are very interested to hear about your experience.