|💰 Fees:||The FidelCrest Challenge with an initial capital 10k balance costs €99 (MicroTrader); 25k balance for €249(MicroTrader); 50k balance for €449(MicroTrader); 150k balance for €649; 500k balance for €1,599; 1m balance for €2,699;|
|🚀 Profit split:||The FidelCrest funded account challenge pays out Micro Trader and ProTrader accounts with Normal risk strategy: 80%. Micro Trader Swing and ProTrader accounts with Aggressive risk strategy: 90%|
|✔️ Evaluation:||The Fidelcrest has two-part evaluation process that you must pass to become a funded trader.|
|🎯 Profit Target:||10% for Phase 1 and 2 in Normal Mode. 20% for Phase 1 and 2 in Aggressive Mode.|
|⚓ Maximum drawdown (MDD):||Normal Mode: 5% Maximum daily loss with a 10% Maximum loss. Aggressive Mode: 10% Maximum daily loss with a 20% Maximum loss.|
|⌛ Trading Period:||The Fieldcrest Challenge duration is 60 calendar days.|
|⚖️ Leverage:||The leverage offered by Fieldcrest is up to 1:100. This applies for all traders even from US, Canada and EU -countries.|
|🔧 Instruments:||Forex, CFDs, Cryptos, Metals, Commodities, and Stocks.|
|📰 Allow Trade News:||Yes in Fieldcrest Challenge and Verification.|
|🔄 Weekend Position:||Yes in Fieldcrest you are free to keep positions open overnight, over weekends, or holidays. The only requirement is to liquidate your positions before the trading period ends.|
FidelCrest has the markings of a venture capitalist firm or high-end Wall Street brokerage. The design and feel of the site are sleek and confident. The winged lion logo oozes pride. The phases of the Trading Challenge are immediately presented in a clear comparison table exuding the apparent transparency and trustworthiness of FidelCrest. Does the challenge lose its shine when you get up close? In this review, we have gone under the hood of the FidelCrest Trading Challenge to see whether it lives up to the hype.
FidelCrest was awarded Best Proprietary Trading Firm in UK 2022 (and 2021) by the International Business Magazine. The firm refers to its “trust and transparency” and quotes itself as winning “Best Micro Forex in Europe 2021” in the People’s Choice category at the Forex Expo last year. FidelCrest certainly has some impressive strings on its bow, but is it the best prop firm out there?
What are proprietary trading firms?
Before we launch into the nitty gritty of this particular funded account challenge – we should check the fundamentals. What exactly does proprietary trading mean? Prop firms are a mutually beneficial agreement between trader and broker, whereby the former seek low-risk leverage from the latter upon passing a series of prerequisite tests or “challenges.” Only high-earning and consistently profitable traders pass the funded account challenge and can then be rewarded for their efforts with up to a quarter of a million dollars funding in which the majority of risk is assumed by the broker, and profits taken home by the trader.
FidelCrest Challenge review
The FidelCrest Trading Challenge is one of the oldest in the market. Established in 2018, the challenge is hailed as an opportunity for traders to access leverage of up to two million dollars – which eclipses the maximum funding of most prop firms. The FidelCrest Trading Challenge is described as an evaluation course that sets out to recruit promising traders. The package is alluring indeed: a 5% minimum profit target, minimal trading rules and regulations, and the opportunity to trade with up to $2m with a 90% profit split in the trader’s favor.
Like many prop firms, FidelCrest offers two main avenues to traders: the Pro Trader Program and the Micro Trader Program. Both approaches have inbuilt phases: the trading challenge, the verification stage, and the final funded account as a FidelCrest Trader (to the lucky winners). They have 30 days in which to prove consistent profits, with targets between 5% and 15% and maximum losses of 10% to 20%. The minimum number of trading days is 10 and traders are invited to pursue normal or aggressive trading strategies.
The verification stage continues in the same vein, except that this time traders can begin to keep a share of the profits (between 40% and 50%). Depending on the account size, this could amount to up to $20,000. The traders who make it through the second stage will then be brought onboard FidelCrest with the opportunity of trading the firm's capital and sharing the profits without assuming personal financial risk. In this final phase, the profit margin is up to 90% for the trader. The Pro Trader regulations are the same as the above, except in the second phase (the Verification Stage) traders will have the opportunity of keeping up to $30,000 of the profits.
Let’s talk about the good stuff …
|TrustPilot||FidelCrest TrustPilot Customer Reviews, Feedback and Complaints|
|Trustpilot||On Trustpilot, FidelCrest has currently 770 number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.60/5.00. Reviewers embracing FidelCrest most frequently mention Clients centered company, and
The best pay cut, and
Helps to work with a big capital. FidelCrest also has a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.|
FidelCrest firm's reply behavior to negative reviews is up to the standard having replied to 4% negative reviews with a response time to their negative reviews in less than 90 days.
TrustPilot Reviews' Key takeaway
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