Fidelcrest Review 2022: Is This Prop Trading Firm Legit?

If youre looking to join a reputable prop trading firm, then you might want to take a close look at Fidelcrest.

The firm is known for its training programs and dedicated customer support team.

Fidelcrest provides many valuable tools to sharpen your trading skills and help you meet your trading objectives.

Its trading platform offers funded accounts for prop traders who want to trade forex, CPOs, and cryptocurrency.

But is Fidelcrest worth your time and money？

Tune in for our Fidelcrest review to find out.

What Is Fidelcrest？

Fidelcrest is a prop trading firm founded in 2018 by the Fidelcrest Group of Companies.

It houses many forex traders and trading professionals with extensive brokerage experience.

Fidelcrest LLC works with over 6,000 traders from more than 170 countries.

The prop firm caters to both the experienced trader and those gradually building their portfolios.

The barrier of entry for new traders is relatively low, with $5,000 being the lowest funding option.

Its Aggressive Accounts allows Fidelcrest traders to take home an 80% profit share, making it one of the highest profit-sharing splits in the industry.

Fidelcrest provides a wide range of account options, including a demo account that lets traders practice their craft risk-free, a challenge account, and a professional account for more experienced traders.

Where Is Fidelcrest Located？

The prop firm is headquartered in Cyprus, with offices in Budapest.

Is Fidelcrest Legit？

Fidelcrest is a legitimate prop firm that works with thousands of investors across the globe.

Its an especially solid firm for forex trading.

The firm follows a rigorous validation process to ensure the legitimacy of all the traders who use the platform.

Though Fidelcrest fully follows industry-standard protocols, all precautions must be taken when sharing sensitive information on this or any other prop trading platform.

Is Fidelcrest Regulated？

Fidelcrest LLC does not operate as a broker, meaning they do not hold or trade funds at any time.

As such, it does not need to be regulated.

However, all of the top brokers partnered with Fidelcrest are regulated by the Financial Conduct Authority (FCA).

Fidelcrest Funded Accounts

You can choose from any of the 13 accounts that Fidelcrest provides, which cover various risk levels and investments.

Each of the funded accounts offered leverage trading and access to more than 1,000 financial instruments.

There are Micro (Micro Trader) accounts for small investors to use and test their strategy and risk management skills, which offer up to $25,000 in funding.

And there is the Pro (Pro Trader) program for larger investors to use, which offers up to $500,000 in funding.

You can also trade with up to seven top brokers and use several platforms, including cTrader, MetaTrader 4, and MetaTrader 5.

Further, you can immediately change your brokers and platforms at the end of each trading period, which lasts for 30 days.

Who Can Get a Fidelcrest Funded Account？

The firm offers funded Fidelcrest accounts to new and experienced traders from all over the world.

However, you can only start making money from Fidelcrest after completing the Trader Challenge and the verification process.

Youll also need to sign an agreement with the prop trading company to receive earnings from trades.

Fidelcrest only issues restrictions against trading robots and EAs.

Prop trading firms usually seek traders who buy and sell based on their own analysis instead of relying on automation.

You may be granted an exception if you can prove that using EAs and trading profits unlock your profitability capabilities.

Additionally, you cannot trade on Fidelcrest if you allow a third party to trade your account or engage in copy trading, with the latter violating risk management policies.

How Do I Get a Funded Trading Account？

To start using Fidelcrest, you must complete a comprehensive verification process to demonstrate that you have the skills to consistently meet monthly profit targets.

These are the steps that you need to take to receive and maintain a funded account:

Step 1: Sign Up for the Fidelcrest Trading Challenge

If you want a funded account, youll need to sign up for the Trading Challenge.

What is the Fidelcrest Trading Challenge？

Its a challenge that verifies if you have what it takes to start trading with this prop firm.

Once you choose an account size, the Trading Challenge tests whether or not youre a skilled trader who can regularly meet profit targets.

Your trading style during the challenge is completely up to you.

More on the Fidelcrest Trading Challenge

The Fidelcrest Trading Challenge takes place on the prop firms demo account.

To pass the Trading Challenge, you have to reach the minimum profit target by the end of the 30-day trading period.

If youre unsuccessful in your efforts to reach the minimum profit target during the Trading Challenge phase, you can get a second attempt at it for free by accessing a promo code when purchasing the challenge.

Plus, you can get back your evaluation fee.

The challenge account can be used for a normal trade strategy or an aggressive one.

The minimum number of trading days is 10, with the maximum loss being 10% for the normal plan and 20% for the aggressive plan.

The profit targets are 10% and 20% for the normal and aggressive plans, respectively.

Step 2: Verification

During the verification stage, you need to reach the profit target without hitting maximum loss targets.

You also need to submit your Know Your Customer (KYC) documents and sign a trade agreement located in the Trader Area of the Fidelcrest website.

During the funded verification phase, you can trade with real money, earning up to 50% of the profits in the process.

Step 3: Start Trading

After successfully completing the verification stage, youll be provided with a funded account.

It has an 80/20 profit split, and withdrawals can be made at the end of each 30-day trading period.

You can trade on the funded account without a profit target, but you cannot pass the maximum loss amount.