Fidelcrest is a well-known prop trading firm from Cyprus.
But is Fidelcrest a scam?
No, it isn’t!
Our review and experience show that Fidelcrest is a safe proprietary trading firm.
Update:
The official website of Fidelcrest is currently unavailable and redirects to the login page. According to the company, all activities were temporarily suspended on March 4, 2024, due to the need to find a new tech provider following unexpected problems. Additionally, all social media accounts have been deactivated, and primarily negative reviews have been posted on Trustpilot. Please be cautious until more information is available!
You can share your experiences with Fidelcrest within our comment section.
Table of Contents
Key Takeaways
- Fidelcrest is an established prop trading firm with a great reputation and multiple awards. It also ensures transparency, prompt payouts, and secure client data
- It focuses on Forex prop trading and has flexible rules. It is designed to attract serious traders for a profitable collaboration
- The review of Fidelcrest provides a detailed look at the prop firm, covering its rules, fees, features, payment, and withdrawal process
About Fidelcrest
Fidelcrest is a prop trading firm based in Nicosia, Cyprus, founded in 2018. Expert forex traders and professionals founded this website, and the current president is Kevin Tollefson.
The entire team has more than ten years of experience in this field, and using their expertise, they have made an excellent prop trade firm.
| Name | Fidelcrest |
|---|---|
| Website | fidelcrest.com |
| Company | Fidelcrest Ltd. |
| Address | Arch. Makariou III & 1-7 Evagorou, MITSI 3, 1st floor, office 102 C, 1065 Nicosia, Cyprus |
| CEO | Jussi Hallikas |
| Founder | Jussi Hallikas |
| Founded | 2018 |
| Contact | Live Chat, Mail, Ticket System |
| [email protected] | |
| Phone Number | not available |
| Starting Capital | $15,000 to $1,000,000 |
| Profit Share | 80% to 90% |
| Evaluation | 0 days |
| Fee | 99€ to 3,499€ (refundable) |
| Payment Methods | Credit Card, Skrill, Neteller, Wire Transfer |
| Instruments | CFDs |
| Platform | Fidelcrest Trader Area |
| Withdrawals | within 1-3 business days (on request) |
| Languages | English |
The company’s credibility is enhanced by the multiple awards it has received for its service in the prop trading industry, such as Best Micro Forex in Europe 2021, People’s Choice Award 2021, and Best Proprietary Trading Firm UK 2022.
You have to pass the challenge and the verification test to get started with Fidelcrest.
Safety and Regulation
Based on our firsthand experience and extensive investigation, Fidelcrest’s security is excellent, as the platform has strong SSL encryption and secure data storage.
There’s also a multi-factor authentication option for trader accounts. They also implement proper cybersecurity measures to prevent hacking and data breaches. There’s no risk of fraud, as the firm’s policies are clearly documented and easily accessible.
They are also committed to fair treatment of clients and ethical marketing practices. We have found from using this product that they have an easy procedure for traders to complain, and they take swift action based on the complaints.
It isn’t regulated as Fidelcrest is not a broker and doesn’t handle client’s money and trade with the company’s own money.
Accepted Countries
Fidlecrest wishes to make its service available to as many countries as possible. It’s a European company and is available in almost every country in Europe and to more than 150 countries worldwide. However, due to some gov regulations, they can’t offer their services in some countries. I’ve listed the most important countries here:
- Australia: Yes, registration is possible
- Canada: Yes, registration is possible
- Ghana: Yes, registration is possible
- Hong Kong: Yes, registration is possible
- India: No, registration isn’t possible
- Ireland: Yes, registration is possible
- Kenya: No, registration isn’t possible
- New Zealand: Yes, registration is possible
- Nigeria: Yes, registration is possible
- Pakistan: Yes, registration is possible
- Philippines: Yes, registration is possible
- Singapore: Yes, registration is possible
- South Africa: Yes, registration is possible
- United Kingdom: Yes, registration is possible
- United States: Yes, registration is possible
Evaluation Process
Like most prop firms, Fidelcrest also requires an evaluation test. Once you pass the evaluation test, you can trade with a funded account. Drawing from our experience, we’ve explained the evaluation process in detail so anyone can easily understand it.
Trading Challenge
To filter out the top traders, they have a 60-day trading challenge. You’ll be given a simulated trading environment with all the tools you need to hit the profit target by trading virtual money.
The profit target is to hit 14% within 60 days. That means if you start with 1000 USD, you’ll need to make 140 USD profit on it.
To begin, you need to pick between “Normal” and “Aggressive,” which will decide how much risk you can take per trade. There’s no restriction on what kind of asset you can trade; you can trade any available stock options and any strategy you see fit.
There’s also a loss limit to ensure you trade responsibly. You can’t lose more than a certain percentage on a single day and a certain percentage overall.
Here’s the table for different trading accounts:
Pro Trader Normal
| Starting Capital | $100,000 | $200,000 |
|---|---|---|
| Profit Target | $10,000 | $20,000 |
| Maximum Daily Loss | $2,000 | $4,000 |
| Maximum Loss | $5,000 | $10,000 |
| Minimum Trading Days | 0 | 0 |
| Fee (refundable) | €1,299 | €2,199 |
| Discount | Check now | Check now |
Pro Trader Aggressive
| Starting Capital | $100,000 | $200,000 |
|---|---|---|
| Profit Target | $14,000 | $28,000 |
| Maximum Daily Loss | $4,000 | $8,000 |
| Maximum Loss | $8,000 | $16,000 |
| Minimum Trading Days | 0 | 0 |
| Fee (refundable) | €2,299 | €3,799 |
| Discount | Check now | Check now |
A unique thing about Fidelcrest is that they offer other inexpensive account models in addition to regular accounts. These are called micro trader accounts and help people with low capital to start trading.
Micro Trader Normal
| Starting Capital | $15,000 | $30,000 | $60,000 |
|---|---|---|---|
| Profit Target | $2,250 | $4,500 | $9,000 |
| Maximum Daily Loss | $300 | $600 | $1,200 |
| Maximum Loss | $450 | $900 | $1,800 |
| Minimum Trading Days | 0 | 0 | 0 |
| Fee (refundable) | €149 | €249 | €349 |
| Discount | Check now | Check now | Check now |
Micro Trader Aggressive
| Starting Capital | $15,000 | $30,000 | $60,000 |
|---|---|---|---|
| Profit Target | $1,500 | $3,000 | $6,000 |
| Maximum Daily Loss | $450 | $900 | $1,800 |
| Maximum Loss | $1,050 | $2,100 | $4,200 |
| Minimum Trading Days | 0 | 0 | 0 |
| Fee (refundable) | €249 | €349 | €449 |
| Discount | Check now | Check now | Check now |
Verification
After proving yourself in the challenge period, you have to prove your consistency in the verification period—the step is there to filter out the top traders and ensure your success isn’t more than just a fluke. Here, you will get a simulated account like the challenge, and the profit latest and drawdown limits will remain the same. Like the challenge, you’ll choose an account type and then get 60 days to reach the profit target of 14%.
Fidelcrest Trader
Once you’ve passed the challenge and verification steps, you’ll become a Fidelcrest trader and will have earned their trust. You’ll get access to a real trading account with the firm’s real money.
There will no longer be a profit target for you unless you want to scale up. In that case, you’ll need to hit a certain profit target over a 3-month period. You can make as much profit as possible without going under the loss limits. You can take 70-80% of the profit home.
Challenge Trading Rules
There are some rules that you must follow during the evaluation challenge test. We’ll learn about them here:
- Profit Target
- Profit Split
- Trading Period
- Minimum Trading Days
- Maximum Daily Loss
- Maximum Loss
- Maximum Position Size
- Maximum Capital Allocation and Multiple Accounts
- Trading Types
- Leverage
- Trading Style
- Trading Hours
- News Trading
- Weekend and Overnight Trading
- Expert Advisor
- Copy Trading
Profit Target
For regular accounts, the profit target in the challenge and verification phase is 14%. You’ll be removed from the evaluation test if you fail to meet the target. After you’ve become the trader, you’ll need to consistently maintain a 10% profit target over a three month period to scale up the account.
For micro traders, the profit target is 15% in the challenge and verification phase. After getting a funded account, the profit target is 5% to scale.
Profit Split
Through our practical knowledge, we’ve learned that the profit split is 70-80%. That means if you make 100 USD profit, you’ll take 70-80 USD home.
Only the micro trader regular accounts get an 80% profit share, whereas all other accounts receive a 70% profit share.
Trading Period
From our own experience, there’s a limit on trade duration, as you’ll need to pass the challenge and verification phase in 60 days each. For a successful attempt, you need to pass the challenge within 60 days. Holidays will be included within the 60 days unless the markets are closed on those days. After you’ve become a funded trader, you’ll no longer have a trade duration limit.
Minimum Trading Days
There are no minimum trading days for Fidelcrest. As soon as you’ve achieved the profit target specified by the program, you can move on to the next phase. However, you’ll need to have traded for at least 11 days to withdraw profit.
Maximum Daily Loss
The daily maximum loss is the amount you can lose within a single trading day. If you cross that limit, the firm will stop your trading. The daily loss limit is 2% for regular and mini trader accounts; for aggressive accounts, it’s 4%. If your starting balance is 100k USD, regular and mini-trader accounts can only lose up to 2k USD in a single trading day.
Maximum Loss
The maximum loss is the amount you can lose over the entire evaluation or trading period. If you cross the maximum loss limit, your trading will be paused. The maximum loss limit for regular low-risk accounts is 5%, while for aggressive accounts, it’s 8%. And for micro trader accounts, the maximum loss amount is 3%. So, if you start with 100k USD, regular accounts can lose 5k USD, while aggressive accounts can lose 8k USD.
Maximum Position Size
Fidelcrest’s maximum position size policy isn’t clearly defined on its website, and it doesn’t mention any limits. However, after conducting experiments with it, we found out that the prop firm uses the drawdown limit to adjust the maximum position size to limit the chances of a big loss.
Maximum Capital Allocation and Multiple Accounts
With scaling, the account can have a maximum of 2 million USD in capital. Within a year, you can double your starting capital. Every three months, Fidelcrest can add 25% more capital to your account, which can be 100% in total in 12 months.
To qualify for these, you’ll need to meet two conditions. First, you must have made an overall profit of at least 15% over the last three months. Second, every month within this period must have a positive return.
In the Fidelcrest trading challenge phase, you can have only one account. However, in Phase 3, you can have multiple accounts under one registration.
Trading Types
Forex is the primary trade in Fidelcrest. However, we found that CFDs or metals can also be traded here.
Leverage
Fidelcrest provides traders with leverage up to 1:100. You can request them to increase the leverage to 1:200. You can use leverage to increase your profit significantly. However, if the trade goes wrong, you might have to take a heavy hit to your capital.
Trading Style
You can choose either a standard or aggressive style, depending on what you’re comfortable with. Both accounts have an equal chance of making a profit without any disadvantage.
Trading Hours
Fidelcrest is open 24 hours for trades from Monday to Friday. Saturday and Sunday are closed for trades.
News Trading
According to our experience, News trading is allowed, as you can place trades before and after the news release. However, you must place a stop loss and profit target to manage the risks better.
Weekend and Overnight Trading
Fidelcrest allows overnight and weekend trading, as you can leave your position open when the market closes.
Expert Advisor
Fidelcrest LTD wants to find traders who can analyze financial markets, develop trading strategies, and make decisions. These traders can adjust their approach based on market conditions, which an automated bot will struggle with. That’s why they generally don’t allow expert advisors. However, if compelling evidence supports the EA being good for trade, they might make an exception. To apply for an exception, you have to contact the customer support team.
Copy Trading
Copy trading is allowed. You can copy trades between your accounts and strategies from others. However, you can’t let anyone else access your account. Also, be careful before practicing copy trading, as you don’t want to blindly trust someone else’s strategy, which can backfire big time.
Trading Platforms
Fidelcrest uses MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their trading platforms. The dashboards are intuitive and user-friendly. Both platforms are very secure and have their own mobile apps for trading.
MT4 is known for its focus on Forex trading, while MT5 offers more trading options, particularly for CFDs.
Trading Instruments
Fidelcrest allows 175+ instruments for you to trade. The complete list can be accessed from the trader area. Here are the most common and essential trading instruments:
- Foreign exchange (Forex)
- CFDs
- metals
- raw materials
- Stock CFDs
- Cryptocurrencies
Brokers
For years, Fidelcrest has used Irish broker FXCH (The FX Clearing House). FXCH is a reputed Forex broker and adds credibility to Fidelcrest.
Other Products
Fidelcrest doesn’t offer extensive training programs like other prop firms or products. However, it provides support to traders when they need it through its vast knowledge base and customer service. During the evaluation phase, it can help with immediate issues and technical queries. Funded traders have access to a performance coach who can offer guidance and support to help them trade consistently.
There’s also a telegram channel to connect with other prop traders and get their support.
Prices and Challenge Fees
You’ll need to pay a one-time fee to take the evaluation test, which varies depending on the kind of account you choose. Once you become a funded trader, you won’t have to pay monthly subscription fees.
If you pass the test, Fidecrest will refund you the entire amount and your first profit payout. The cost is higher, but it attracts the most serious prop traders who are ready to invest in the opportunity and make a significant profit.
| Account Type | Starting Capital | Challenge Fee |
|---|---|---|
| Per Trader Normal | $100,000 | €1,299 |
| Per Trader Normal | $200,000 | €2,199 |
| Pro Trader Aggressive | $100,000 | €2,299 |
| Pro Trader Aggressive | $200,000 | €3,799 |
The micro trader offers an affordable entry point to traders who want to start with a smaller starting capital. You can also scale micro accounts with consistent, successful trading.
| Account Type | Starting Capital | Challenge Fee |
|---|---|---|
| Micro Trading Normal | $15,000 | €149 |
| Micro Trading Normal | $30,000 | €249 |
| Micro Trading Normal | $60,000 | €349 |
| Micro Trading Aggressive | $15,000 | €249 |
| Micro Trading Aggressive | $30,000 | €349 |
| Micro Trading Aggressive | $60,000 | €449 |
Payment Methods and Payout System
You can pay the fee via any Visa or Mastercard. They also accept payment through Neteller and Skrill. Alipay, Help2Lay, and WeChat Pay are not commonly used in the USA or Europe. Bitcoin and other cryptocurrencies such as Ethereum, DASH, Tether via uTrust, and USD Coin are also accepted.
I’ve made the payment through PayPal. There’s no minimum withdrawal amount. However, if you want to withdraw from a bank account based outside the SEPA area, you’ll have to pay a 50 euro transaction fee each time.
You can receive the payout through Neteller, Skrill, crypto, or bank transfer. You can request the first payout after 11 trading days. Then, you can make a withdrawal request any time you want.
It takes 1-3 days to process and receive the funds in your account. After making the payment, they will send you a receipt of it.
Registration and KYC
The registration process is straightforward, which we have explained here:
- Visit the Fidelcrest website and click the “Start Now” button to access your preferred account.
- Fill out the short registration form (name, email, phone number, agree to terms).
- Check your inbox for the welcome email containing your temporary password.
- Click the link in the email to log in to Fidelcrest for the first time.
- Choose your Fidelcrest challenge option and make the payment.
- Within minutes, you’ll receive your trading platform login details.
You can submit your KYC document anytime you want. However, they must be submitted before you enter the verification stage. You’ll need documents like a passport/driver’s license for ID proof and a recent utility bill/bank statement for proof of address. Fidelcrest lets you register as a company.
If you choose to be registered as a company, you’ll need company registration documents, and you have to prove that you are authorized to act on behalf of the company.
Discount and Promo Code
Currently, they are offering users no discount or promo code. We’ve paid the full fee for using the program.
Free Trial and Demo Account
Fidelcrest doesn’t offer a trial or demo account to try the program. You have to pay the minimum fee to enter it.
Mobile App
They have an iOS app for trading from Apple devices like iPads and iPhones. However, there’s no Android version available. If you want to use the platform from your phone, you must use their website’s mobile version from your browser.
Customer Service and Support
Our team discovered through testing that Fidelcrest’s customer service is excellent, as the waiting time is minimal.
You can reach a live agent almost immediately as the average response time is less than 40 seconds. The staff is well-trained and responds in live chat promptly. They are also experts in trading concepts and the specifics of the firm’s rules and platforms. As a result, there’s no room for ambiguity in communication. Also, Fidelcrest offers the chance to reach them via email or opening a ticket. However, there’s no phone number available to call.
Taxes
You must pay taxes on the profits you make from Fidelcrest. They are not responsible for your taxes, and it’s your sole duty to pay tax properly on the income. For US citizens, profit from prop trading is taxable, and you need to consult with a tax consultant to sort out the tax matter. Learn more in our dedicated guide about “Prop Trading Taxes“.
Alternatives to Fidelcrest
Here are 3 alternatives to Fidelcrest that you can try out:
FTMO
FTMO offers one of the best and most generous profit splits, as you keep 90% of the profit. They also allow you to scale up your account to 2 million with consistent and successful trades. The trading rules aren’t rigid and allow enough flexibility on style, instruments, and timeframes. They also offer several tools and resources, like performance coaches and a trading academy, to support your development as a trader.
City Traders Imperium
For experienced traders, there’s a direct-funded account at City Traders Imperium option with a one-time, non-refundable fee. The profit share can go up to 50-100%. You can trade Forex, cryptocurrencies, metals, commodities, and indices.
The Trading Pit
The Trading Pit offers one of the most significant scaling plans, as you can grow your account to €5 million. You can also keep 80% of the profit. They also offer pathways to become certified and enter the hedge fund and asset management industries, which differentiates them from other prop firms.
Conclusion
Fidelcrest is a proprietary trading firm and a well-established name in the prop firm industry. They are considered among the top proprietary trading companies and are trusted by thousands of professional traders. Fidelcrest requires traders to pass the evaluation test to get a funded account. The evaluation helps to identify the responsible traders with whom Fidelcrest wants to work.
Fidelcrest offers flexibility in trading styles, trading duration, payment, and instruments. While fees can seem a bit high for regular accounts, they also allow cheaper micro accounts to get started with small investments.
Overall, our own experience of using the programs, online reviews, company track record, and trader feedback leads us to believe that the prop firm offers a great opportunity for traders to use their resources and capital to trade and make profits.
If you are a disciplined trader with good Forex trading skills, Fidelcrest can be a reliable trading partner for your trading career.
Frequently Asked Questions
I’ve compiled the most commonly asked questions about the Fidelcrest prop firm here.
Is Fidelcrest legit or a scam?
From our experience, Fidelcrest is a legitimate prop trading firm. It paid us the profit promptly, and we found the service as advertised on its website. Learn more in the “About Fidelcrest” section.
Is Fidelcrest regulated?
No, Fidelcrest isn’t regulated by the government as it’s not a brokerage company. Learn more about it in the “Safety and Regulation“.
What is Fidelcrest?
Fidelcrest LLC is a prop trading firm headquartered in Cyprus. It’s one of the best companies for Forex trading. Read more about this in our “About Fidelcrest” section.
Which broker does Fidelcrest work with?
Fidelcrest works with the Irish broker FXCH, which enjoys a stellar reputation in the UK market. You can read more about it in the “Brokers” section.
How many Fidelcrest accounts can I have?
In the Trading Challenge phase, you can only have one account. However, once you have become a trader, you can open multiple accounts and try different strategies from them. To learn more about it, check “Maximum Capital Allocation and Multiple Accounts“.
Where is Fidelcrest based?
Fidelcrest is based in Nicosia, Cyprus. The “About Fidelcrest” section provides more information about the company.
Does Fidelcrest allow the use of an Expert Advisor or Copy Trading?
Though copy trading is allowed, Fidelcrest doesn’t normally allow expert advisors. However, you can apply for an exception. The exact regulations are in the “Expert Advisor” and “Copy Trading” sections.
Is Fidelcrest legal in the US?
Yes. Fidelcrest is legal in the US. To learn which countries can access Fidelcrest, check out our “Accepted Countries” section.
How long has Fidelcrest been around?
It has been around since 2018. Learn more about the company under “About Fidelcrest“.
How much does Fidelcrest cost?
That depends on the type of account you choose. If you want to start with a small amount, you can choose a micro trading account, with a fee of €149. For regular trading accounts, you need to pay €1,299. If you go with the maximum account size for an aggressive strategy, you’ll need to pay €3,799 for the account. Learn more about the Fidelcrest prices in the “Prices and Challenge Fees” section.
How often does Fidelcrest pay out?
After 11 days of trading, you can make the first payout request. Then, you can make more requests. The payment will be processed within 1-3 days. Read more under “Payment Methods and Payout System“.
Having more than eight years of trading experience, I know how hard it is to find a good and reliable Prop Trading Firm and not to choose the wrong one. With PropTradingScam.com I want to help you to pick the right one, stay safe, and share your experience.
