Author: Eduardo Montero
Last Updated on July 22, 2022
Fidelcrest is a proprietary trading firm headquartered in Nicosia, Cyprus, founded in 2018 by a team of traders and Forex professionals with the aim of providing a solution to one of the main problems that most traders face: having enough capital to trade with to generate significant profits and be able to professionally engage in online trading.
Its business model is based on finding, training and evaluating traders in different markets such as Forex, CFDs (Stocks, Indices, Metals) and Cryptocurrencies, and then giving them the possibility (to those who pass the evaluation process) to manage a large capital belonging to the prop firm Fidelcrest, in exchange for a percentage of the profits they can generate.
Although Fidelcrest is not as popular or well known as other prop trading firms such as FTMO or Topstep, over the course of its history it has managed to gain the trust of over 6000 traders from a large number of countries, from whom it has received excellent ratings.
If we look a little deeper, we can mention some of the features that have brought this prop firm to where it is today.
For example, it offers one of the highest profit split in the industry, ranging from 80% to 90%, and allows you to manage a funded trading account of up to $1 million right out of the box, without having to go through complex scaling schemes.
Fidelcrest currently offers two funding programs (Micro Trader and Pro Trader) and two trading styles: Normal and Aggressive.
The cheapest account will allow you to trade a capital of €10,000 for only €99, with no additional recurring payments, as it is a one-off payment.
As you would expect, before you can trade on Fidelcrest’s funded accounts, you need to pass an evaluation process, which consists of two phases:
Phase 1: Trading Challenge
With profit targets of 5% or 15% depending on whether the account is Normal or Aggressive and a maximum period of 30 days.
Phase 2: Verification
Period of 60 days with the same profit target and you receive 40% or 50% of the profits when you pass this phase.
More info about the programmes and Fidelcrest rules at https://fidelcrest.com
If you pass these two phases by meeting the set targets, you will move to a funded live account with the possibility of receiving up to 90% of the profits.
Unlike other proprietary trading firms, the trading rules are quite simple, being more flexible in Aggressive accounts, especially the maximum daily and total loss.
Is Fidelcrest reliable?
Reliability is a critical aspect when deciding whether or not to use the services of a particular firm. Unlike brokers, in the case of prop trading firms, as the money at stake is the company’s own private money, and not that of its clients, they are not required to be subject to regulation by financial authorities such as the FCA, CySEC, ASIC, among others..
It is good to clarify this because many users believe that because the company does not have regulations, it is a fraudulent company, an erroneous criterion in some cases.
In the particular case of Fidelcrest, we have been able to verify that like most proprietary trading firms, it is not regulated by the entities in charge of this, but the brokers it uses to carry out operations are regulated, mainly by the UK FCA.
On the other hand, we have been able to verify that after 5 years of experience, paying all its users each corresponding profit, many traders have begun to trust this prop firm and have made it clear in some of their reviews.
Undoubtedly, another point in favour of Fidelcrest and that gives confidence to its users, is that it has presence in several countries such as Estonia, where it has its IT department (located in Tallinn), United Kingdom, Malaysia, Spain, Australia, Chile, Turkey, Romania, Ecuador, Nigeria, South Africa and even the United States, a country quite demanding in terms of laws in matters of trading and investment.
The official address of the company is as follows:
Fidelcrest Ltd. (Company number HE413263) – Arch. Makariou III & 1-7 Evagorou, MITSI 3, 1st floor, office 102 C, 1065 – Nicosia, Cyprus.
You can visit us on any working day during office hours.
In summary, for our part, we believe that Fidelcrest is a reliable prop trading firm so far, and that’s what their 6000+ users think, but you should always take all precautions and keep an eye out for any red flags!
What are the opinions of Fidelcrest users?
As in every review we do, we give special importance to the opinions of users of the company in question, Fidelcrest in this case. That’s why we place it behind the reliability section, even before explaining all its features and operation.
Now, we have analysed each of the comments left by users of Fidelcrest on this platform, to show you the most relevant and which represent the majority of the other opinions.
In general, this prop trading firm gets good reviews, highlighting its clear rules, customer service, and even its low spreads and commissions.
On the other hand, and more specifically, many of the (good) comments are related to the support team, which they rate as fast, efficient, and professional.
In other comments, such as Alberto’s, they also mention that payments are made on a regular basis, fulfilling Fidelcrest’s promise of profit splitting.
Another highlight of Fidelcrest is their variety of financial instruments, we can see the gratitude shown by their clients in this regard.
If we turn to less positive comments, we have found some who find the firm’s rules too strict, such as the maximum and daily loss limits, but in truth, it is the firm’s way of checking that the applicant maintains a healthy risk management that allows it to generate steady gains rather than losses.
Comments like the one you will see below, most of the time are related to the lack of information, as due to ignorance of all the rules, the trader loses the evaluation account, and blames the company for this.
In short, even though it is not one of the companies with the highest ratings, its rating is Excellent, making it one of the best proprietary trading firms!
How does Fidelcrest work?
As I mentioned at the beginning of this post, Fidelcrest is a company that invests its own resources in traders instead of using money from them.
Its operation is simple, it is based on finding traders who demonstrate skills, knowledge, and profitability in the markets, to provide them with real capital with which they will be able to generate substantial profits.
How does the Fidelcrest evaluation process work?
To become a Fidelcrest funded trader, you must pass an evaluation process consisting of two phases: the Challenge phase, and the Verification phase (If you want to see a list of prop firms without evaluation, here it is: Instant funding prop trading firms).
Step 1: Challenge
The first step to try to be funded is the challenge phase, to pass it you will have to:
- Reach earnings targets (of between 5% and 20%, depending on the mode) within no more than 30 days, and no less than 10 days.
- Accumulate at least 10 trading days for the normal mode, or 5 days for the aggressive mode, where the trading day will be counted as the one in which you have opened at least one trade.
- Do not violate the daily or maximum loss limits.
- Close all trades after reaching your profit targets and minimum trading amount
Step 2: Verification
The verification period has the same requirements and objectives as the previous phase, but in this case you will have up to 60 days to complete it, and you will also receive between 40% and 50% of the profits after passing this step.
Thereafter, if you also managed to meet the rules and objectives of the verification phase, you will manage a funded live account and the profit share will be up to 90%.
However, it is important to know that once you have successfully completed the Challenge stage, in order to access the Verification test you will need to submit the required KYC documents in the Trader area and sign an agreement (digitally) with the company.
Another thing you should know is that the verification periods always start on Mondays at 2:00 p.m. (S) T, and you will receive the account login credentials at least 4 hours before the agreed start time by email.
It can be said that Fidelcrest has a wide variety of packages available, having two different types Micro Trader and ProTrader, with two modes each Normal and Aggressive.
Where Aggressive accounts allow for more losses but, you will have a higher cost, and also higher profit targets.
Check this information on the official Fidelcrest website (https://fidelcrest.com/) as prices and conditions may change at any time and may no longer be up to date.
The costs on the Micro Trader Normal accounts are set at 99€, 249€ and 499€, with the possibility to manage an account of $10,000, $25,000, or $50,000 respectively.
In Micro Aggressive accounts the costs are 149€, 349€, 549€, and the same amount is managed as in the respective MicroTrader Normal accounts, only some rules change.
On the other hand in the ProTrader Normal accounts the prices are a bit higher, being 649€ for the $150,000 account, 999€ for the $250,000 account, 1,599€ for the $500,000 account and 2,699€ for the largest one, which would be $1,000,000.
ProTrader Aggressive accounts have the same cost and size as the Normal mode, but with different objectives and rules, and the $1,000,000 account is not included for this risk mode.
Often many proprietary trading firms impose rules that make it too difficult to access funding programmes. In the case of Fidelcrest, even though it has several rules and restrictions, they are quite simple and clear.
Let’s see what they are:
- Reach the profit target of the Challenge test within a maximum of 30 days and 10 (for Normal mode) or 5 (for Aggressive mode) trading days minimum, and also reach the objectives of the verification stage within no more than 60 days, and no less than 10.
- Close all positions upon reaching the minimum profit and trading day targets.
- Trade with only one Challenge account at a time.
- Do not copy the trades of other Fidelcrest traders, or use expert advisors without prior approval from the company.
- Do not exceed maximum loss limits or daily loss limits at any time.
From this last rule we can mention that the loss limits are set as follows:
- Micro Normal and ProTrader Normal accounts:
- Daily loss allowed is up to 5% of the total
- Maximum loss allowed is 10% of the total
- Micro Aggressive Swing and ProTrader Aggressive Accounts
- Daily loss allowed is up to 10% of the total
- Maximum loss allowed is up to 20% of the total amount
All information about the rules is available on Fidelcrest official website: https://fidelcrest.com/
Financial instruments available
With Fidelcrest you will have over 175 instruments available in various markets such as Forex, CFDs, Cryptos, Metals, Commodities, and Stocks, all with spreads and commissions designed for proprietary trading.
Below are some of the main assets you will be able to trade with Fidelcrest:
Very similar to other prop firms like FTMO and TopStep, Fidelcrest offers a maximum leverage of 1:100, which is not the highest, but not the lowest either. It turns out that with this leverage the buying power of your account will be enough to generate profits of up to 3 figures and even more.
As for trading terminals, according to the prop trading firm only the MetaTrader 4 platform is available. In this sense the prop firm does not give more options than that, but even so with the robustness and trajectory that the platform has, we believe that it will be enough to trade professionally with a high capital.
On the other hand, this terminal has been adapted by Fidelcrest to offer its traders exclusively, the best trading conditions in the market, with raw spreads from 0 pips and 0 commissions.
This platform comes integrated with numerous tools and functionalities that you can take advantage of free of charge.
Fidelcrest scaling plan
Fidelcrest has a scaling plan that allows its most profitable traders to manage up to $1,000,000 or even more in some cases.
First of all, to apply for the scaling plan you need to have completed your first trading period on a funded account, after that you will need to contact the customer support team to request and sign an agreement. Once signed, you will be automatically added to the Fidelcrest scaling plan
As mentioned above, the scaling plan allows you to bring your account balance up to $1,000,000 but according to the proprietary firm itself, they may make exceptions if after 1 year, the trader has shown exceptional earnings and good risk management with their professional account.
With Fidelcrest’s scaling plan, you will double your account every 12 months, if you meet your profit targets. According to the company itself, this is much faster than what any other prop firm offers.
How does the Fidelcrest work after passing the evaluation?
Once you pass the challenge or evaluation process, which as we saw above consists of two phases, the firm will give you access to a new account, this time, with real funds, where the profits are real and can be shared between the trader and the prop trading firm.
Profit sharing at Fidelcrest is quite favourable for the trader, considering the high percentage he receives of the total.
To be more precise:
- Micro Trader and ProTrader accounts with Normal risk strategy : 80% of the profits will go to the trader, the company keeps the remaining 20%.
- Micro Trader Swing and ProTrader accounts with aggressive risk strategy: 90% of the profit goes to the trader, while only 10% of the profit goes to the company.
You will also receive money during the evaluation, as when you move to the live account, Fidelcrest will pay you a registration fee based on your performance in the verification stage, which will be up to 50% of the minimum profit target reached in the verification stage.
On Micro Trader accounts
On ProTrader accounts
Now we come to the best part, the part that everyone loves, withdrawing profits. In this regard you should know that the profits belonging to the trader, will be credited to your account via the preferred payment method, this, after the trader has fulfilled the conditions of the funded account stage, and will be processed within 1 to 3 business days after the approved trading period of both stage 2 and 3.
To withdraw your profits you will have 4 options:
- Bank transfer
- PaySafe (Skrill, Neteller…)
In terms of limits, there is no minimum withdrawal amount, nor any associated fees, but you must bear in mind that in the case of bank transfers outside the SEPA area, there is a fee of 50€ per transaction.
In addition, if you do so, you should bear in mind that the account must be in your name.
Fidelcrest tools and educational materials
In terms of tools and educational materials, Fidelcrest is not one of the most important, in this sense we have found only a few resources, such as:
- A blog with educational articles
- Questions and answers section
And nothing else!
They don’t offer many personalised tools either, only:
- A dashboard or trader’s area with progress metrics and goals, which are automatically updated minute by minute.
- An economic calendar with relevant news
- A Leaderboard to monitor the best traders.
To solve any problem or question related to Fidelcrest, you can contact the prop firm’s customer service, which you can contact through the following communication channels:
- Online chat on the website (available 24 hours a day, working days only).
- If the chat is not available, you can create a Ticket, so that as soon as an agent is available, he/she will answer it as soon as possible.
- Social networks (although only general queries are answered through this channel).
As you can see, the customer satisfaction rate is quite high, and the average response time is very short, less than two minutes.
However, as a negative point we can point out that there is no telephone support available.
In general, Fidelcrest traders or aspiring traders believe that the customer service of this firm is of very good quality.
This has been quite a long post, with a lot of information about Fidelcrest, in general, many good things, and some not so good. Let’s see a summary of the main advantages and disadvantages of this proprietary trading firm:
Pros of Fidelcrest
- Possibility to manage (from the very first moment) an account of up to $1,000,000 without the need to go through complex scaling plans.
- It has one of the highest profit split schemes, up to 90% for the trader.
- You can receive a bonus when moving to the Fidelcrest live account where you will be credited up to 50% of the profits made in step 2 (Verification).
- 5% profit target in phase 1 and phase 2 (Micro Trader accounts).
- Large variety and quantity of assets available, from different markets such as Forex, CFDs, stocks, and even cryptocurrencies.
- Withdrawals via bank transfer, PayPal, PaySafe (Skrill, Neteller), or Bitcoin.
- Three types of bonuses are currently available:
- Fast Track: Removes the minimum trading period requirement in the evaluation period and allows you to quickly access a funded live account (available for Micro Trader Aggressive accounts).
- Second Chance Free: With this bonus (available for a limited time) you get 2 accounts for the price of 1 if you fail in the evaluation period
- Double your capital: Another bonus (available for a limited time) that gives you the possibility to double your capital after you have made a profit in phase 3 (Not available if you buy a 1M account, as this is the maximum allowed).
Cons of of Fidelcrest
- In step 2, the same profit target is maintained as in step 1, but the maximum total loss in this second step will be half of step 1. Although the percentage is still affordable, especially in Aggressive accounts, overcoming this step might be a bit more complex.
- The maximum trading days limit of 30 days does not favour traders who use long term strategies.
- Little educational material and tools compared to other prop trading firms.
- Two-phase evaluation process, which makes it longer and can take up to 90 days.
Main differences between Fidelcrest and other prop firms
Fidelcrest is not as popular as FTMO (click here to access our FTMO Review) or Topstep (our Topstep Review), but it is only a matter of time, as its rules, programmes and conditions are very similar to those of these leading prop trading firms.
We can even say that it has its own characteristics that we can’t find in those more positioned ones, such as SurgeTrader (View our SurgeTrader Review):
- The bonuses offered at certain times.
- The possibility of making profits during the evaluation, in its second phase (although this would be after passing it).
If we move a little further away from the top, Fidelcrest definitely has many differences with several of the proprietary trading firms.
Some of these are:
- Its high trader favourable percentage ranging from 80% to 90%
- Its clear rules and few restrictions
- Its high leverage allowed of 1:100 compared to others of between 1:2 and 1:10 such as Surgetrader.
Fidelcrest offers unique features, as well as having other features very similar to those of leading companies such as My Forex Funds (My Forex Funds Review) or FTMO, which makes it worthy of being one of the top 5 prop trading firms.
Another thing we have noticed about Fidelcrest is that it has a rigorous evaluation process, and many traders fail to make it through the process, simply because they do not carefully read the rules and trading objectives.
So we urge all those interested in becoming a Fidelcrest funded trader to pay close attention to all the rules and objectives necessary to pass the two phases of evaluation, even if you are already a funded trader, so as not to lose your live account.
You can find out more about Fidelcrest and open an account with them via their website:Visit Now
Limited time offer: 2 accounts for the price of 1.