When exploring the world of proprietary trading, one name that frequently comes up is Fidelcrest. Known for its innovative approach to helping traders enter the market with substantial capital, Fidelcrest offers a range of trading programs designed to accommodate various levels of expertise. In this in-depth review, we will examine Fidelcrest from multiple angles—its offerings, account types, conditions, and feedback from users—so you can make an informed decision about whether this prop trading firm is the right fit for you.
What is Fidelcrest?
Fidelcrest is a proprietary trading firm that provides funding to traders who pass its evaluation process. The firm aims to bridge the gap between aspiring traders and the financial markets by giving them the capital to trade on their behalf. Fidelcrest focuses on providing funding for traders specializing in forex, stocks, and commodities trading, with an emphasis on forex due to its liquidity and volatility.
The company prides itself on offering one of the most trader-friendly funding models in the industry, with no upfront cost to the trader. After passing their evaluation phase, traders are granted access to real funds and can trade with higher leverage, allowing them to maximize their profits. In return, Fidelcrest retains a percentage of the profits.
Fidelcrest’s Trading Programs
Fidelcrest’s success lies in its unique range of trading programs. Whether you’re a beginner or an experienced trader, Fidelcrest has options tailored to meet your needs. Here’s an overview of the primary trading programs offered:
1. The Fidelcrest Evaluation Program
The Fidelcrest Evaluation Program is the cornerstone of the firm’s business model. It is the gateway for traders to access funding. The evaluation process consists of two phases, designed to assess a trader’s skill level and risk management capabilities. Traders need to prove their trading strategy and ability to generate consistent profits without exceeding the maximum drawdown limits.
Key features of the Fidelcrest Evaluation Program include:
- Multiple Account Sizes: Traders can select from various account sizes ranging from $10,000 to $200,000, allowing flexibility depending on their risk tolerance and trading style.
- Profit Targets: Each trader is required to meet specific profit targets, which differ based on the account size they choose. The targets are realistic yet challenging, encouraging traders to develop strong trading strategies.
- Risk Management: The evaluation program has strict rules regarding maximum drawdown and daily loss limits. This ensures that only disciplined and well-rounded traders make it to the funding phase.
Once a trader successfully completes the evaluation phase, they move on to the funded stage, where they trade real capital, keeping a percentage of the profits.
2. The Fidelcrest Instant Funding Program
For traders who are confident in their trading abilities and want to skip the evaluation process, the Instant Funding Program provides immediate access to funded accounts. The entry cost is higher compared to the evaluation program, but traders gain instant access to substantial trading capital.
Key features of the Instant Funding Program include:
- Direct Access to Funds: Traders can immediately start trading with real capital, as opposed to going through an evaluation.
- Larger Leverage: Traders can trade with higher leverage, which can lead to larger profits.
- Profit Split: As with the evaluation program, traders keep a percentage of the profits they generate. Fidelcrest typically offers a 75% profit split, which is quite generous compared to other firms in the industry.
This program is ideal for experienced traders who prefer to trade with real funds from the outset.
3. The Fidelcrest Trading Academy
For beginners or traders who want to improve their skills, the Fidelcrest Trading Academy is an excellent resource. It offers a range of educational materials, including video courses, live webinars, and one-on-one mentorship. The goal of the academy is to help traders become proficient and increase their chances of success during the evaluation process.
Key features of the Fidelcrest Trading Academy include:
- Comprehensive Courses: The academy offers a structured curriculum that covers everything from basic concepts to advanced trading strategies.
- Expert Mentors: Traders can access mentorship from experienced traders who have successfully navigated the Fidelcrest evaluation.
- Live Trading Sessions: Traders can watch live trading sessions, helping them better understand market dynamics and refine their strategies.
Fidelcrest’s Account Types and Profit Sharing
Fidelcrest offers a variety of account types to suit different types of traders, each with varying levels of capital, profit targets, and risk parameters.
Account Types
Fidelcrest provides the following account sizes:
- $10,000 account: Ideal for beginners or traders with lower capital.
- $25,000 account: Suitable for traders who want more capital to trade.
- $50,000 account: Designed for experienced traders who are capable of managing higher levels of risk.
- $100,000 and $200,000 accounts: These accounts offer substantial trading capital for advanced traders looking for larger profit potential.
Profit Sharing
One of the key features of Fidelcrest is its profit-sharing model. The firm typically offers traders a 75% profit split—one of the best profit-sharing deals in the prop trading industry. This means that traders keep 75% of the profits they make, while Fidelcrest takes the remaining 25%. The profit split is designed to reward traders for their efforts while still allowing the firm to cover operational costs and make a profit.
Fidelcrest’s Funding Process: A Step-by-Step Breakdown
1. Choose a Program
Traders begin by choosing between the Evaluation Program or the Instant Funding Program. The choice depends on whether the trader wants to undergo the evaluation process or access funding immediately.
2. Complete the Evaluation
Traders who choose the Evaluation Program will need to meet the profit target and adhere to the risk management rules within the evaluation phase. This step involves demonstrating consistent profitability over time.
3. Receive Funding
Traders who successfully pass the evaluation phase will be granted real capital to trade. Those in the Instant Funding Program will skip the evaluation and start trading immediately.
4. Start Trading and Keep Profits
Traders can start trading with real capital, keeping a 75% profit split. Fidelcrest monitors the trading activities to ensure adherence to the risk management rules and profitability standards.
Fidelcrest’s Risk Management and Drawdown Rules
Fidelcrest enforces strict risk management rules to ensure the safety of both the traders and the firm’s capital. The two main rules include:
1. Maximum Drawdown
Each trader must not exceed the maximum drawdown limit for their chosen account. The drawdown refers to the largest peak-to-trough decline during the evaluation or funded phase. If the trader’s balance falls below this threshold, they risk losing access to the trading account.
2. Daily Loss Limit
Fidelcrest imposes a daily loss limit to ensure that traders do not lose a significant portion of their account in one day. This ensures that traders make calculated decisions rather than overexposing themselves to the market.
Customer Reviews and Feedback on Fidelcrest
Positive Reviews
Many traders appreciate the transparency and generous profit splits offered by Fidelcrest. The ability to skip the evaluation process and access funding immediately has been a major selling point for experienced traders. Additionally, the firm’s risk management and educational resources have received positive feedback, with traders noting that the support is comprehensive and accessible.
Negative Reviews
Some traders have raised concerns about the strict risk management rules, especially the daily loss limit and maximum drawdown, which can sometimes be challenging to adhere to. Additionally, the evaluation phase may be daunting for beginner traders, especially those with limited capital or experience.
Conclusion: Is Fidelcrest Right for You?
Fidelcrest offers an attractive proposition for traders looking to gain access to substantial capital and trade in a supportive environment. With high profit splits, multiple account options, and a well-structured evaluation process, the firm provides a pathway to success for traders across different skill levels. However, it is essential to consider the firm’s risk management rules and ensure that your trading style aligns with these parameters before committing to an account.
For those who are serious about pursuing proprietary trading and are willing to put in the effort to meet Fidelcrest’s standards, this firm can be an excellent partner on the road to financial success.
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