Be warned that while FidelCrest dangles an enticing carrot in front of traders' noses (up to 2 million USD funded account with up to 90% profits taken home!) this comes at a literal cost. The Pro Trader Normal Account, with starting capital of $150,000 come with a fee of €649. To trade with $1 million starting capital (virtual money) will set you back €2,899 (your real money). The Pro Trader Aggressive is more expensive still, with an initial fee of €999 for the smallest account size.
Traders should also read the small print of the trading rules and requirements. FidelCrest can change the challenge fees and requirements at any time, and traders will have their accounts suspended without the option of a refund if they are not activated within 30 calendar days. Traders have complained about being forced to trade specific lot sizes and being told they had failed the challenge even after meeting the profit target of 10%. Others pointed out the delays in accessing stage 2 or being of being outright ignored after passing the first part of the challenge.
So, it would appear that “all that glisters is not gold.” FidelCrest certainly has the stars to its name and brand recognition. However, when you ask around the traders with a real-hand experience of taking the FidelCrest Trading Challenge it would appear It has some trust holes to fill. While FidelCrest is the chosen and preferred prop firm of many a user, there are many disgruntled traders out there waiting to be rightfully brought onto stage 2, or complaining they were unfairly dismissed on restrictive lot sizes. While the rewards are great, traders should be cautioned to ensure they are ready to stand the risk of not getting their entry fees back.
With the above in mind, here is what we would suggest as an alternative to FidelCrest: a propriety trading firm which fills in the gaps above. Ideally you want to keep the good and add the missing features.
OspreyFX is a powerhouse broker that offers leverage of up to 1:500 to trade forex, crypto, stocks, or more. They recently launched the OspreyFX Funded Account Challenge, a chance for traders to manage $100,000 with zero risk.
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.
Founded in 2012, TopstepForex has become one of the biggest proprietary trading sites online. Topstep FX is based in the USA, but it is available for everyone to use worldwide. Traders are invited to join their "forex funded trader program," which gives them the chance to use Topstep FX's money (and gain a healthy cut of the profits), without risking their capital.