What is a Fidelcrest Funded Account
Fidelcrest is a proprietary trading company founded in 2018. The firm offers equal trading opportunities to traders worldwide, including in the US and Canada. So far, it has more than 6,000 investors with funded accounts in 170 countries.
Fidelcrest, as a prop trading company, gives traders its capital to use to gain profits. These forex-funded accounts vary in size hence the capital in them. To own one of these accounts, one has to prove his trading skills, making profits while managing all risks. In addition, there are other rules that one has to keep up with to retain their funded accounts.
Despite the rules, you are free to select your preferred platform as well as your trading strategy. There’s also a wide range of trading instruments like forex and cryptos that you can use.
Uplift your Trading Potential with Fidelcrest Innovative Technology
To join Fidelcrest, you have to undergo a rigorous verification process to ascertain that you maintain a strategy that will enable you to gain the required profits. Let’s now look at the specific steps of becoming a qualified trader with Fidelcrest.
Select an Account
The first step is to choose an account. Fidelcrest has a variety of accounts that you can choose from. As a guideline, you should consider your preferred risk level, funds, and your experience. We will get into an in-depth discussion of the accounts in our subsequent sections.
Select a Broker, Trading Platform, and Spreads
While trading at Fidelcrest, you need to engage with a reputable broker who can offer you the instruments and trading platform that you are conversant with. You can select brokers like TradeView, Purple Trading, and RoboForex, among others. As for the trading platforms, you might use MetaTrader4, cTrader, or MetaTrader 5. However, all these will depend on your broker.
You can use different brokers and platforms, but the change is only possible after completing every 30-day trading period.
Select an option
The last phase is to choose a spreader. Fidelcrest has two options; Standard and Raw. Once you have made your pick, you are ready to start trading.
Go Through the Trading Challenge Phase
The main objective at this stage is to prove that you can trade by reaching the minimum profit threshold without going against set rules and guidelines. Fidelcrest has an automatic 24/7 account monitoring system that will detect any malpractice. During this phase, you will use a demo account.
The Funded Verification Phase
After successful completion of the trading challenge, you get to apply your skills to earn real money. You need to prove that you can use your trading strategies to earn the minimum profit target within 30 trading days. You will retain up to 50% of the acquired profit target.
Professional Funded Account
Now that you have proven your trading skills, you will proceed to have a funded professional account. Unlike the other phases, you don’t work on specific profit targets. Instead, you only need to keep off the maximum loss or daily loss limits as you trade.
You will keep 80% of the profits gained after each 30-day trading period.
Fidelcrest has additional options for traders who would like to take their trading a notch higher.
If you desire to invest more despite having a professional-funded account, you can contact the Fidelcrest customer service team and register for the scaling plan. Every time you have a collective gain of at least 15% for three consecutive months, you receive a 25% increase in capital.
Progressing on to Bigger Account Sizes
You can have more than one Verification and Professional accounts. When you are comfortable with your current account, you can restart the process for a more extensive account size by paying the required fee and finishing the challenge.
Fidelcrest has 13 different account types. They vary in terms of experience, risk, and investment. The accounts are in two major categories; MicroFX+ and ProFX+. Each of these programs has Normal and Aggressive accounts.
The Aggressive accounts are more suitable for individuals who have built confidence in their trading skills as the account allows more losses, but you need to get more profits and pay higher fees.
MicroFX+ has smaller accounts hence more suitable for beginners. You can thus prove the viability of your trading strategy in gaining profits and managing risks. The minor account has $5,000 in the capital with a fee of €99, while the most expensive account is €199 with a trading capital of $20,000.
ProFX+ is most suitable for experienced traders with access to funds, and they can trade up to $400,000 at a fee of €1,499. The minor account is valued at $50,000 at a fee of €349.
Other than the one-off challenge fee paid, Fidelcrest is quite flexible. The fee varies depending on one’s account. After every 30-day trading period, you will receive your profits in your wallet. All you need to do is make your withdrawal request, and you will receive it within three working days.
If the transfer is to a bank outside the SEPA region (it covers EU countries, UK, and others), you will pay a fee of €50. However, you can avoid this fee by using Bitcoin to buy your challenge account.
Since Fidelcrest does not charge a monthly account fee, you get to keep 80% of the profits earned after the 30-day trading period. If you make losses in your professional account, you will not pay anything. However, if your losses exceed the maximum limit, you will lose your account.
Review of Fidelcrest Funded Account
Most business ventures have their challenges. So does Fidelcrest.
- Fidelcrest has varying accounts tailored to meet each trader at their level. Once you have gained experience, you can upgrade to more significant accounts.
- With seven brokers and over 1,000 financial instruments, you can get assets you can comfortably trade on the platform as per your trading strategy.
- You are free from risks since you are trading the firm’s funds
- If you are successful in trading, you can double your initial capital with the scaling program
- You get a high-profit share of up to 80%
- The customer support team is prompt in responding to clients’ needs.
- The trading rules are strict
- You can only reach the customer support team via mail.
- The 30-day trading period limits long-term investments.