Having enough capital is necessary as a forex trader if you want to make a living out of this. Unfortunately, not all traders have enough, or it takes them a long time until they reach a good amount of capital. As they want to navigate through their trading activity much faster and get to a profitable point, many people reach out to prop trading firms, such as Fidelcrest.
Fidelcrest has been around for a few years, yet it became one of the most popular companies in the industry. Not only do they offer a high-profit split, but they also provide up to $400,000 in capital if you prove your worth and pass their challenges.
Is Fidelcrest a firm you can trust, though? Below you are going to read our Fidelcrest review and see what it has to offer. So, in the end, you can decide whether you should give it a try or not.
What Is Fidelcrest?
Fidelcrest is a proprietary trading company that was established in 2018 and is registered in Cyprus and is owned by the Fidelcrest Group of Companies. It has offices in Budapest too, it helped traders from more than 170 countries. In fact, they have helped over 6,000 traders all over the world.
Ever since its foundation, Fidelcrest has been gaining more and more popularity thanks to its 80% profit split, but also due to offering capital of up to $400,000.
What’s notable about the firm is that it is not meant for experienced traders alone. It also welcomes people who are new to forex trading and are still learning how to manage risk and make money.
Their lowest funding option is $5,000, making it suitable for individuals who aren’t ready to work with larger amounts for now.
According to them, their team is made of professionals with a lot of experience and knowledge when it comes to forex trading.
What Makes Fidelcrest Unique?
Fidelcrest is one of the many prop firms online. So, you might have a hard time trying to understand why you would choose Fidelcrest and not one of the other readily available companies.
Despite being similar to every other prop firm, Fidelcrest also has a few unique features that make it stand out. For instance, it offers a high amount of capital – something you don’t always see with other companies.
You can get up to $400,000 in maximum initial funding, but you also need to pay a high fee in order to join the challenge for this account size. It will cost $1,499 to take the challenge.
What’s even better is that they also have a great scaling plan. In 3 months, you must achieve a 15% gain on the capital, but you must also be profitable during this time. By being successful, you can have your capital increased every 3 months by 25%. Isn’t that great?
The growth opportunities are incredible, and the cap is $800,000.
How to Get Funded by Fidelcrest
Before you jump into it, you must know how you can obtain capital from Fidelcrest.
The company offers four different account types. The smallest ones are the Micro accounts, which let you get $5,000 – $20,000 in capital and require you to pay a $99 fee to join the challenge.
Then, they have the Pro accounts that offer capital between $50,000 and $400,000. Of course, the fee for taking the challenge for one of these accounts will cost you more.
But how exactly do you get started? Here are the steps you’ll have to go through:
Select the Desired AccountChoose an account type you are interested in based on how much capital you want and how much experience you have with forex trading. You can choose from micro and pro accounts, but also from normal and aggressive ones.
When it comes to normal and aggressive accounts, you need to make sure you choose according to your trading strategy and style. Aggressive accounts are more suitable for traders with more gains and more drawdowns. However, these accounts have a much higher fee.
Pick a Broker
Next, it’s time to choose a broker. Fidelcrest offers different options, such as Purple Trading, Blueberry Markets, RoboForex, Pepperstone, XM, IC Markets, and TradeView. Not only that, but you can also pick from different trading platforms like cTrader, MetaTrader 4, and MetaTrader 5.
Join the Challenge
After you pay a fee, you will be able to start your Fidelcrest challenge, which involves proving your trading skills. You’ll do this on a demo account, and it will last 30 days. By the end of it, you must reach a specific profit target.
However, if you do not reach it, you might be allowed to try once more.
Do the Funded Verification
Now you must hit the profit target without hitting the maximum loss levels. You also need to submit KYC documents. All of this will help you complete the funded verification.
Start Trading with a Professional Account
You’ve become a Fidelcrest trader. It’s time to start trading with your professional account. You must also make sure you do not hit the maximum losses while trying to maintain 80% of your profits within the 30 days trading time.
Funded Programs Available
It’s important to choose the right type of forex trading account if you are going to apply for FidelCrest capital. You may be confused trying to balance your options, but once you know the benefits of all types, it’ll be much easier to settle for the suitable one.
There are 13 types of accounts in total, and two trading programs, respectively:
MicroFX+ is suitable for individuals who are either new to forex trades or don’t want to get started with a huge amount of capital. It’s great if you wish to perfect your skills first and test your strategy.
The coolest thing is that you only pay $99 for the account fee if you go for the smallest account size, and $199 if you decide you can use up to $20,000 in capital. All in all, it’s worth giving it a try.
ProFX+ accounts are better suited for traders who were involved with forex trading for a longer amount of time. They are bigger, and require a higher fee to join the program, as account sizes go up to $400,000.
As such, you will pay between $349 and $1,499 to join the challenge in this case. While these accounts will give you the chance to obtain higher profits, they will also come with higher profit targets.
Reviews from previous users are extremely important when you are trying to decide whether you should consider a prop firm or not. Although Fidelcrest has been around for a short amount of time, it already has numerous reviews, with a lot of them leaving maximum ratings.
On TrustPilot, Fidelcrest currently has 405 reviews and a total rating of 4.4 stars. This points to the fact that the majority of those who left reviews were happy with the services and recommend them to other forex traders.
78% of reviewers gave Fidelcrest a 5-star rating, and 12% left 1-star ratings.
Those who left positive reviews claimed that Fidelcrest is a great teacher to those who are trying to learn the ways of managing risk and capital. Besides, they seem to be amazing at conducting their business. One reviewer broke a rule by mistake and admitted to it, and the company still gave him the 80% profit just like before.
Meanwhile, people who left bad reviews are making allegations that the company fails many individuals before the test as a way to make money.
Do They Offer Educational Materials?
Fidelcrest knows that not all forex traders in need of capital are experienced or knowledgeable. Therefore, they don’t want to abandon them, and they made trading statistics tracking available. This way, you’ll be aware of your statistics at all times and you’ll know whether you should change your strategy or you’re close to a deadline.
Moreover, they also offer an Economic Calendar – something that not all prop firms offer.
While they do provide some educational content, it’s not always enough. The calendar and statistics tracking features are surely useful, yet they could use some improvement in their educational area.
How Is the Customer Support at Fidelcrest?
The customer support is an important part of any firm. Without good customer support service, people will not have anyone to turn to when they experience issues, which can be problematic. The good news is that Fidelcrest is aware of the importance of good customer support, and they worked hard to implement a stable contact method.
You can reach out to the Fidelcrast team using the live chat, which is available 24 hours per day. Most of the time, it takes them 1 minute to respond. Even when they take longer, they do their best to get back to you as quickly as possible.
Aside from the live chat, Fidelcrest also allows you to contact them using Facebook chat or their email support.
They also have a Telegram group with different traders. If you want, you can ask for an invite so you can speak to experienced traders about forex trading strategies and more.
Fidelcrest Review – Pros and Cons
Fidelcrest has its own share of pros and cons, just like any other firm out there. Although the benefits seem to outshine the drawbacks, it’s still essential to know what you’ll get by applying for capital with them. Let’s take a look at Fidelcrest’s pros and cons:
- Amazing scaling program that can help you make even better profits
- High profit share of up to 80%
- Outstanding customer service that responds to questions and messages as soon as they can
- Multiple types of accounts are available
- Different types of assets
- You can make withdrawals using some of the most popular and mainstream methods, such as PayPal, Bitcoin, PaySafe, or bank transfer
- You can get multiple bonuses
- There isn’t a lot of educational material available
- Pro accounts require a high fee to join the challenge
- The evaluation process is pretty long
- The trading rules are quite strict
- You cannot contact customer support by phone
Fidelcrest Review – Is It Legit?
If you’re worried that Fidelcrest might be a scam, you can relax. The company is legitimate. While there have been some unhappy incidents with some traders, it has helped many obtain capital and it continues to get better and better every day.
As soon as you prove yourself during the challenge using the demo account, you will gain access to the funding you are looking forward to.
Our Fidelcrest review proved that this is a legit platform that can help many traders obtain the capital they desire so much for their trades. With multiple account sizes and generous capital, they will give you the opportunity to reach your trading goals.
The high capital is accompanied by great customer support service, along with safe withdrawals and different bonuses available. You can also choose a reliable broker and trading platform that suits your trading strategy.
All in all, you cannot go wrong if you choose Fidelcrest.