Fidelcrest Review 2024

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• Our Review Method

• Fidelcrest Pros Cons

• Fidelcrest Challenge

• Funded Account

• Account Conditions

Our Review Method ▲

After conducting an extensive analysis of over 1000 brokers, we've refined our methodology to objectively assess and compare each forex broker's offerings. Our evaluation process involves examining various crucial factors such as fees, spreads, trading platforms, customer support, regulatory compliance, and educational resources. We aim to provide a balanced perspective that highlights both the strengths and weaknesses of each broker, ensuring that our readers can make an informed decision based on their trading needs and preferences.

What is Fidelcrest?

Fidelcrest is a forex broker that aims to bridge the gap between talented traders and substantial trading capital. They operate on a unique model where traders can prove their trading skills through a trading challenge. Successful traders are then given a funded account to manage, with profits split between the trader and Fidelcrest. This model encourages skilled trading and risk management, providing an opportunity for traders to earn without risking their own capital.

Fidelcrest Pros Cons ▲

Pros

• Competitive profitsharing model

• Access to a wide range of instruments and markets

• No initial investment required for traders

Cons

• Stringent rules and targets in the trading challenge

• Limited educational resources for novice traders

Is Fidelcrest Legit?

Fidelcrest is a Forex trading challenge and proprietary trading firm that has been gaining attention in the trading community. To answer the question of its legitimacy, it's essential to delve into several aspects, including its regulatory status, trading conditions, and user feedback. Fidelcrest claims to be regulated and compliant with the necessary financial authorities, which is a primary factor in establishing trust. However, traders are always advised to conduct their own research and verify such claims directly with the regulators.

The firm offers a unique proposition through the Fidelcrest Trading Challenge, where traders prove their trading skills and discipline under simulated conditions to qualify for a funded trading account. This model is not only innovative but also provides an opportunity for traders to showcase their expertise without risking their own capital initially.

Pros

• Offers a norisk platform for traders to demonstrate their abilities

• Provides access to a funded account upon successful completion of the challenge

Cons

• The challenge comes with strict conditions and targets that might be difficult for some traders to meet

Fidelcrest Challenge ▲

The Fidelcrest Challenge is designed to identify and nurture talented traders by offering them a pathway to trade with significant capital. Participants are required to meet specific profit targets while adhering to predefined risk management rules over a set period. Successful candidates are then given a funded account with which they can trade, and they share in the profits generated.

This challenge has been positively received by many in the trading community for its transparency and the potential it offers to traders. However, it's important to note that not everyone may find the challenge feasible due to its stringent conditions.

Pros

• Provides a clear and achievable path to trading with substantial capital

• Encourages disciplined trading through strict risk management requirements

Cons

• The challenge's strict conditions may not be suitable for all traders

Funded Account ▲

After the successful completion of the testing phase or challenge, traders are granted their Funded Account, which is typically ready for activation within a few business days. It is crucial to highlight that the specifications and balance of this account will align with the parameters of the test you have successfully passed. If there is a desire to access an account with a higher balance, it necessitates undergoing and passing the challenge designed for the new, desired Account Balance.

Profit Split

Fidelcrest provides its traders with an attractive profit-sharing arrangement, offering between 80-90% of the profits generated. Traders engaged in the standard-risk program are entitled to retain 80% of their earnings, whereas those participating in the aggressive trading challenge could retain as much as 90%, incentivizing higher risk-taking endeavors.

Fidelcrest Micro Trader

The Fidelcrest Micro Trader Program is tailored for novices, with account sizes ranging from $10,000 to $50,000. This program encompasses a 30-day Trading Challenge and a 60-day Verification Stage, setting profit objectives at 5% (Normal) and 15% (Aggressive). During the Challenge, the maximum permissible loss limits are 10% (Normal) and 20% (Aggressive), which are then reduced in the Verification Stage. Traders are allowed to keep up to 80% of the profits they make.

Account Conditions ▲

Our analysis of account conditions includes a thorough evaluation of the broker’s account types, available trading platforms, instruments, and associated costs. It is also imperative to scrutinize leverage levels and trading conditions, as restrictions on certain strategies in funded accounts might lead to account forfeiture and necessitate requalification. Below is a detailed breakdown:

Trading Instruments

Fidelcrest offers an extensive selection of trading instruments, including Forex, Stocks, Commodities, Indices, Cryptocurrencies, Energies, Metals, and Bonds. This broad array supports a wide range of trading strategies and preferences, providing traders with the liberty to select their preferred broker.

Fidelcrest Commission

Fidelcrest boasts highly competitive trading conditions, featuring raw spreads starting from 0 pips and a modest commission rate of $3 per lot. This commission model is specially designed for Fidelcrest traders and is integrated into their trading terminal, which is customized to their proprietary trading platform.

Leverage

Fidelcrest maintains a consistent leverage ratio of up to 1:100 across all trading instruments, applicable to both the Challenge and Funded trader stages. This level of leverage enables traders to magnify their trading positions while effectively managing risk.

Fidelcrest App Platform

Fidelcrest utilizes the MetaTrader platforms, including MT5 and MT4, and collaborates with technology providers, which presents a significant advantage. However, it restricts its offerings to these platforms exclusively, not providing alternatives. For traders with different software preferences, exploring other proprietary trading firms might be advisable.

Trading Conditions

Our research indicates that Fidelcrest provides two account conditions: Swap Accounts ideal for swing trading, and swap-free accounts, which are available in all challenges for traders who prefer to avoid overnight fees. Fidelcrest permits popular trading styles such as News Trading, Swing Trading, EA Trading, and Weekend Holding. Nonetheless, it is critical to be mindful that certain trading practices, including High-Frequency Trading, Latency Trading, and Arbitrage, are prohibited on the platform. In Fidelcrest or any other trading platform, slippage is a possibility, occurring when there is a discrepancy between the requested trade price and the executed trade price due to rapidly changing market conditions.

Fidelcrest Promotions

From time to time, the company introduces promotions providing Fidelcrest promo codes for discounts. However, it's important to acknowledge that these promotional conditions are generally available for a limited duration, hence verifying their current availability upon login is recommended.

Payout and Withdrawals

Fidelcrest prides itself on its efficient payout process, ensuring that trader payouts are processed and disbursed within a timeframe of 7 business days. This timely payout mechanism underscores the company’s dedication to offering a seamless and dependable financial transaction experience for its traders.

Withdrawal Method

Fidelcrest offers a diverse array of withdrawal methods, encompassing traditional bank transfers, Visa/MasterCard, and popular e-wallet options such as Skrill and Neteller. This variety in withdrawal methods serves the convenience and preferences of a wide range of traders, facilitating easy and accessible financial transactions.