Fidelcrest Review

What is Fidelcrest?

Established in 2018 by experienced forex traders and specialists in the sector, Fidelcrest is a trading firm that operates exclusively with its capital. The company’s main office is located in Nicosia, Cyprus, while its IT department is headquartered in Tallinn, Estonia. Fidelcrest offers clients the chance to engage in trading with capital quantities of up to $2,000,000 through the Foreign Exchange Clearing House as its broker.

Fidelcrest is committed to promoting the prosperity of its traders, enabling them to potentially achieve greater financial gains by participating in trading operations with balances of up to $2,000,000. To secure money, participants need to complete a two-step trading challenge. After finishing, traders are granted advantageous profit splits that range from 80% to 90% of their winnings.

Fidelcrest’s headquarters may be found at the address Arch. Makariou III & 1-7 Evagorou, MITSI 3, 1st floor, office 102 C 1065 – Nicosia, Cyprus. Those who desire additional information or prefer to visit the headquarters can do so at this location.

Fidelcrest Funding Programs and Challenges: Rules and Requirements 

Fidelcrest provides traders with a selection of two distinct programs to select from

1. Micro Trader evaluation program accounts

• Normal Micro Trader evaluation program accounts
• Aggressive Micro Trader evaluation program accounts

2. Pro Trader evaluation program accounts

• Normal Pro Trader evaluation program accounts
• Aggressive Pro Trader evaluation program accounts

Micro Trader Evaluation Program Accounts

• Normal Pro Trader evaluation program accounts

The objective of Fidelcrest’s Normal Micro Trader assessment program account is to identify skilled traders who demonstrate consistency during the two-phase evaluation period and reward them accordingly. The evaluation program account grants the ability to engage in trading with leverage of up to 1:200.

In the first phase of evaluation, a trader must reach a profit goal of 10%, while also ensuring that they stay within their maximum daily loss restriction of 5% and maximum loss limit of 10%. 

To advance to evaluation phase two, traders must achieve the profit target for 60 consecutive days starting from the day they initiate the first transaction on the evaluation account. There is no mandatory minimum number of trading days required for this phase.

In evaluation phase two, traders must meet a profit target of 5%, while also following the same conditions of a maximum daily loss of 5% and a maximum loss of 10%. They are required to achieve their profit objective within 60 consecutive days starting from the date they initiate the initial transaction on their assessment account. There is no requirement to engage in trading for a specific minimum duration to advance to a funded account.

Upon successful completion of both evaluation processes, they will be granted a funded account without any profit targets. Nevertheless, they must adhere to the regulations of a 5% cap on daily losses and a 10% cap on overall losses. 

The initial payment will be made ten days after the user establishes their first position on the funded account, provided that certain conditions are fulfilled. During this specific time frame, individuals are required to engage in trading activities for a minimum of 10 consecutive days and achieve a profitable outcome before they are eligible to make their initial withdrawal request. The profit split will be 80% of the profit generated from their financed account.

Normal Micro Trader Evaluation Program Account Scaling Plan

Currently, there is no scaling plan accessible for evaluation program accounts of Normal Micro Trader.

Normal Micro Trader Evaluation Program Account Rules

• Profit target: It refers to a predetermined percentage of profit that a trader must achieve to successfully finish an evaluation phase, withdraw earnings, or increase the size of their trading account. The profit target for Phase 1 is set at 10%, whilst for Phase 2 it is set at 5%. Profit targets do not apply to funded accounts.

• The maximum daily loss: It refers to the amount of money a trader can lose in a single day before their account is considered to be in violation. Every account, regardless of its size, has a cap on the daily loss of 5%.

• Maximum loss: It refers to the amount of money a trader can lose before their account is considered to be in violation. Every account, regardless of its size, has a maximum loss limit of 10%.

• Maximum trading days: It refers to the longest duration during which traders must achieve a predetermined profit or withdrawal goal. Both Phase 1 and Phase 2 have a trading period that cannot exceed 60 calendar days.

• Stop-loss required: Traders are obligated to establish a stop-loss for each position before initiating a trade. It is important to note that establishing a stop-loss and trade profit is obligatory while engaging in trading activities during news events.

• No martingale allowed: Traders are prohibited from employing any form of martingale approach during trading.

• Risk Dest team: The worker evaluates if a trader’s trading strategy aligns with the prop firm’s criteria. If it is determined that the trading method does not meet the requirements, a refund is provided for the evaluation account.

• Third-party copy trading risk: Traders considering the usage of copy trading services should be aware that utilizing a third-party copy trading service may result in encountering other traders who are already employing the same trading technique. Utilizing a third-party copy trading service exposes traders to the possibility of being refused a funded account or withdrawal if they surpass the maximum capital allocation restriction.

• Aggressive Micro Trader evaluation program accounts

The purpose of Fidelcrest’s Aggressive Micro Trader evaluation program account is to recognize committed and proficient traders, compensating them for their unwavering performance during a two-phase evaluation procedure. This program allows traders to utilize leverage of up to 1:200.

Traders are required to meet a profit goal of 15% during the initial evaluation stage, while also guaranteeing that they do not surpass a limit daily loss of 10% or break the regulations of a maximum loss of 20%. 

The profit objective must be achieved for 60 consecutive days starting from the commencement of the initial position in the evaluation account. There are no prerequisites for the minimum number of trading days needed to advance to the second evaluation step.

During the second evaluation period, traders once again strive to achieve a profit target of 15%, while strictly following the criteria of a maximum daily loss of 10% and a maximum loss of 20%. Like the initial stage, the objective of attaining profit must be met within 60 consecutive days from the commencement of the first position. Additionally, there are no prerequisites regarding the number of trading days needed to go to a funded account.

After completing both evaluation processes, traders become eligible for a funded account without any specified profit targets. Instead, they are required to adhere to the 10% daily loss limit and 20% maximum loss regulations. 

The initial payout is set to occur ten calendar days after the trader establishes their first position in the funded account, contingent upon fulfilling particular requirements. Traders are required to participate in at least 10 consecutive days of profitable trading before they may make their initial withdrawal request. The profit splits are determined at 90%, calculated according to the earnings made in the funded account.

Aggressive Micro Trader Evaluation Program Account Scaling Plan

There is presently no scaling plan available for Aggressive Micro Trader evaluation program accounts.

2. Pro Trader Evaluation Program Accounts

• Normal Pro Trader evaluation program accounts

Fidelcrest’s Normal Pro Trader evaluation program allows traders to be identified based on their consistency in a two-phase evaluation period and rewarded accordingly. Traders can take advantage of leverage up to 1:200.

During the initial assessment, a trader is required to attain a profit objective of 10% while ensuring that their daily losses are not above the 5% threshold and their aggregate losses remain under the 10% limit. 

Traders are required to reach the profit objective during a continuous period of 60 days, commencing from the day one commences the first trade on their evaluation account. In addition, there are no obligatory minimum trading day requirements for progressing to evaluation phase two.

During the second part of the review, traders are required to attain a profit goal of 10% while ensuring that they do not surpass their 5% daily loss threshold or 10% overall loss threshold. 

People are required to meet their profit objective during a continuous period of 60 days, commencing from the day they launch their initial position on the evaluation account. In addition, there are no specified requirements for the minimum number of trading days that need to be completed for one to progress to a funded account.

After effectively finishing both evaluation processes, clients will receive a funded account without any earnings targets. Traders must comply with the 5% daily loss limit and the 10% maximum loss limits. The initial payout will be paid ten days after opening the first position on the funded account, subject to the fulfillment of particular criteria. 

To begin the initial withdrawal, they need to participate in trading activities for a minimum of 10 consecutive calendar days and attain a favorable result. The individuals will be entitled to an 80% share of the profits derived from the funded account.

Normal Pro Trader Evaluation Program Account Scaling Plan

Currently, there is no scaling plan available for Normal Pro Trader evaluation program accounts.

• Aggressive Pro Trader Evaluation Program Accounts

Fidelcrest offers an evaluation program for Aggressive Pro Traders. This program is divided into two phases, where traders can showcase their skills and commitment to receive rewards for their sustained performance. Traders who participate in this program have the chance to trade with a leverage of 1:200.

During the initial evaluation period, traders are required to meet a profit target of 20% while following the regulations of a maximum daily loss of 10% and a maximum loss of 20%. The objective is to achieve the specified profit goal within 60 consecutive days starting from the initiation of the initial position in the evaluation account. There are no specific requirements for the number of trading days needed to advance to the second evaluation round.

Transitioning to the second evaluation phase, traders strive to achieve a 20% profit objective while adhering to the 10% limit on daily losses and the 20% cap on overall losses. Like the initial stage, the objective of reaching a profit target must be accomplished within 60 consecutive days starting from the commencement of the first position. Additionally, there are no specific prerequisites in terms of the number of trading days needed to progress to a funded account.

After completing both evaluation processes, traders become eligible for a funded account without any specific profit targets. Instead, they are required to comply with the 10% maximum daily loss and 20% maximum loss regulations. 

The first payment is set to occur ten consecutive days after the trader establishes their initial position in the funded account, subject to the fulfillment of particular requirements. Traders are required to participate in at least 10 consecutive days of profitable trading before they may make their initial withdrawal request. The profit splits are determined at 90%, calculated according to the earnings made in the funded account.

Aggressive Pro Trader Evaluation Program Account Scaling Plan

The Aggressive Pro Trader assessment program accounts presently do not have a scaling strategy available.

Special add-on Options Upon Purchase of an Evaluation Program

Enhance the trading experience with the premium features:

• Insurance Inclusion:
  • Offer: Receive a complimentary second account if anyone does not succeed in their initial Challenge phase.
  • Eligibility: Applicable to all account sizes and types.
  • Additional Cost: (+30% on the one-time fee)

• Capital Doubling Advantage:
  • Offer: Double the capital by obtaining a second account at no extra cost after achieving profitability with the funded account.
  • Eligibility: Available for all account sizes and types.
  • Additional Cost: (+50% on the one-time fee)

• Leverage Amplification Opportunity:
  • Offer: Increase the leverage with a chance to work with up to 1:200 leverage on the trading account. This enables traders to control larger position sizes than usual.
  • Eligibility: Available for all account sizes and types.
  • Additional Cost: (+20% on the one-time fee)

In addition to these exclusive features, traders have the flexibility to choose from the following complimentary add-on options:

• Unlimited Free Retry Possibilities (if an account is in profit)
• Unlimited Trading Day Period during Both Evaluation Phases
• Maximum Trading Period of 60 Calendar Days with an Available Free Retry if Drawdown is Less than 2%

Fidelcrest Broker: Do They Use a Reliable Platform? 

Evaluation Program Considerations:

• It’s crucial to assess the practicality of trading requirements when selecting a prop firm aligned with the forex trading style.
• High-profit splits on well-funded accounts might seem appealing, but if the firm demands high monthly gains with minimal drawdowns, success prospects diminish significantly.

Micro Trader Evaluation Program:

• Capital acquisition through Micro Trader evaluation program accounts is realistic.
• Offers flexibility with normal and aggressive risk account types.
• Normal risk accounts have average profit targets (10% in phase one, 5% in phase two) and moderate maximum loss rules (5% maximum daily loss, 10% maximum loss in both evaluation phases).
• Aggressive risk accounts feature higher profit targets (15% in both phases) and elevated maximum loss rules (10% maximum daily loss, 20and % maximum loss in both evaluation phases).

Pro Trader Evaluation Program:

• Attaining capital from Pro Trader evaluation program accounts is also realistic.
• Provides choices between normal and aggressive risk account types.
• Normal risk accounts entail average profit targets (10% in both phases) and moderate maximum loss rules (5% maximum daily loss, 10% maximum loss in both evaluation phases).
• Aggressive risk accounts have higher profit targets (20% in both phases) and elevated maximum loss rules (10% maximum daily loss, 20% maximum loss in both evaluation phases).

Fidelcrest as an Optimal Choice:

• After a thorough evaluation, Fidelcrest stands out as an excellent choice for securing funding.
• The evaluation program accounts offer realistic trading objectives and payout conditions, providing traders with a solid foundation for success.

Broker Used by Fidelcrest: 

Fidelcrest has formed a partnership with Foreign Exchange Clearing House, which serves as its broker. Regarding trading platforms, they provide the capability to engage in trading activities using both MetaTrader 4 and MetaTrader 5.

Fidelcrest Fees: How Much Do They Charge? 

Trading Commission:

Fidelcrest Proof of Payment:

Fidelcrest, which was founded in 2018 and officially established as a corporation in 2020, has a clear and open method of presenting evidence of payment.

Payment verifications are available on their YouTube channel and in the News section of their official website.

Furthermore, to ensure further payment verification, dealers can access the Instagram account titled Fidelcrestgroup. 

Fidelcrest Customer Support: 

• FAQs Page and Support:

Fidelcrest provides a Frequently Asked Questions (FAQ) page that offers comprehensive information regarding the firm.

The support team can be reached through their social media channels, or anyone may contact them directly via email at help@fidlecrest.com.

In addition, they offer live chat help that is available and operational 24 hours a day, 5 days a week, namely from Monday to Friday.

• Facebook:

The Fidelcrest community has established a lively presence on Facebook, with the firm’s Facebook page attracting 15,000 followers. This area functions as an interactive center for engaging in debates, exchanging experiences, and seeking advice. 

• Twitter: 

Fidelcrest has cultivated a community of 4,540 followers on Twitter. This platform functions as a dynamic environment for immediate updates, news, and engagements with the trading community. Traders can remain updated on the latest developments and participate in discussions with similar-minded individuals by subscribing to their Twitter account.

What Makes Fidelcrest Unique? 

Fidelcrest distinguishes itself from other proprietary firms in the industry by implementing clear-cut trading regulations that enable traders to execute trades during news events, and retain trades overnight, and over the weekends. 

The Micro Trader evaluation program by Fidelcrest consists of a two-phase evaluation process, which mandates traders to complete both phases to qualify for rewards. The profit objective for regular risk accounts is set at 10% in phase one and 5% in phase two. However, for aggressive risk accounts, the profit target is 15% for both phases.

Standard risk accounts adhere to a 5% cap on daily losses, whereas both assessment phases and the attainment of funded status enforce a 10% maximum loss limit for traders. On the other hand, aggressive risk accounts adhere to a maximum daily loss limit of 10%, along with a maximum loss rule of 20% during both assessment periods and once traders achieve funded status.

Both standard risk and aggressive risk accounts do not have any minimum trading day criteria during both evaluation rounds. Nevertheless, the Micro Trader evaluation program lacks a scaling plan and its trading objectives are just average when compared to other top prop firms in the industry.

For instance: 

Therefore, Fidelcrest distinguishes itself from other top-tier proprietary enterprises by providing two distinct funding strategies. Furthermore, they provide traders with clear and uncomplicated trading guidelines. Users can engage in trading activities during the release of news, retain trades overnight, and participate in trading activities over the weekends.

Fidelcrest Reviews: What Do Their Customers Say?

Trustpilot: 

Trustpilot has garnered numerous favorable remarks from its community, achieving an impressive rating of 4.5 out of 5 based on 1,621 reviews.

Fidelcrest has a dependable support crew that will furnish traders with all the essential information they need concerning their exclusive trading firm, trading regulations and goals, as well as any challenges they may face.

#1. John Nix stated that Fidelcrest is an outstanding proprietary trading firm. He knows someone who has received a significant sum of money from Fidelcrest. Fidelcrest offers great customer support and implements highly beneficial trading regulations for traders.

#2. Simon Rathbone recently accepted the Halloween challenge and completed both parts. The customer support team promptly and proficiently addressed his concerns, particularly Juan, with whom he has had multiple interactions. The only drawback he has encountered thus far is the duration it took to evaluate phase 2. However, this issue has already been rectified, and he has obtained his funded credentials.

#3. Millennium Ltd expressed that despite previous unsuccessful attempts with Fidelcrest, they did not experience any negative emotions. However, this time, when they achieved their profit target, Fidelcrest informed them that they could not decrease the lot size. As a result, Fidelcrest deemed the challenge unsuccessful and failed to notify Millennium Ltd via email. Millennium Ltd requested a retry, as they did not violate any major rules, but their request was denied. 

Consequently, he will no longer collaborate with Fidelcrest, despite their reputation as a reputable prop firm. However, it is important to note that there are additional regulations in place that he should be mindful of.

#4. Yvonne Balk expressed her dissatisfaction with the company, noting that they consider every day as a trading day, which quickly ends the challenge without anyone realizing it.

The Helpdesk representative, Olivia, has a complete lack of attention and exhibits tremendous arrogance.

#5. Somayeh Arabpoor reported that the company experiences significant delays in payment and account transfers, with no apparent objective other than to manipulate and exploit the morale and enthusiasm of profitable traders. Despite the passage of over three weeks, his account remains unapproved. 

The reason provided is that there is a bug in the system, which we are now working to resolve. It is advisable for someone who plans to purchase to reconsider and obtain an account with a different provider.

Conclusion

To summarize, Fidelcrest is a well-regarded and authorized proprietary trading organization that offers traders the option to select between two separate funding programs: Micro Trader and Pro Trader. Both programs adhere to the industry-standard two-phase evaluation process, which must be completed to qualify for profit sharing. 

The Micro Trader assessment provides two types of risk accounts: standard and aggressive. Each account has distinct profit targets & maximum loss restrictions. Similarly, the Pro Trader evaluation offers these options, tailored to various risk preferences. Fidelcrest sets itself apart by providing profit splits that range from 80% to 90%. 

This makes it an attractive choice for traders who value clear and uncomplicated trading regulations. Additionally, Fidelcrest offers a reliable and proven platform in the highly competitive proprietary trading business.