Fidelcrest review: can it be trusted?

According to fidelcrest review, having enough capital to trade with to make sizable profits and engage in online trading professionally is one of the main issues that most traders face. Fidelcrest is a proprietary trading firm with its headquarters in Nicosia, Cyprus, that was founded in 2018 by a team of traders and Forex professionals.

The company’s business model is based on finding, developing, and evaluating traders in a variety of markets, including Forex, CFDs (Stocks, Indices, Metals), and Cryptocurrencies, and then offering them the chance (to those who pass the evaluation process) to manage a sizeable capital belonging to the prop firm Fidelcrest in exchange for a cut of the profits they can produce.

Despite not being as well-known or well-liked as other prop trading companies like FTMO or Topstep, Fidelcrest has won the confidence of over 6000 traders from a wide range of nations throughout its history, who have given it good reviews.

If we dig a bit further, we can list some of the characteristics that have helped this forex prop firms get to where it is today. For instance, it allows you to manage a funded trading account of up to $1 million straight out of the box without going through complicated scaling systems. It provides one of the biggest profit splits in the business, ranging from 80% to 90%. Fidelcrest provides two financing options (Micro Trader and Pro Trader) and two trading approaches (Normal and Aggressive).

With the least expensive account, you may trade a capital of €10,000 for just €99; no recurring payments are required because this is a one-time payment. As expected, you must complete a two-phase evaluation process before trading on Fidelcrest’s funded accounts.

CAN WE TRUST FIDELCREST?

When determining whether or not to employ a specific company’s services, reliability is a crucial factor. Prop trading companies, as opposed to brokers, are exempt from oversight by financial regulators, including the FCA, CySEC, and ASIC, since the money at stake is the company’s private money and not its customers.

It is important to make this clear since many consumers assume that a firm is fake if it lacks restrictions, which is sometimes an incorrect standard. We have confirmed in the specific case of Fidelcrest that, like most proprietary trading firms, it is not regulated by the bodies in charge of this. Still, the brokers it uses to conduct operations are regulated primarily by the FCA. On the other hand, we can confirm that many traders now trust this prop firm because they have made it clear in some of their reviews after five years of operation and paying all of their users the corresponding profits.

Fidelcrest’s presence in several countries, including Estonia, where it has its IT department (located in Tallinn), the United Kingdom, Malaysia, Spain, Australia, Chile, Turkey, Romania, Ecuador, Nigeria, South Africa, and even the United States, a nation with strict trading and investment laws, is unquestionably another advantage it has over its competitors.

Prop Trading Companies: How Do You Pick the Best One?

Finding the ideal company to work with is one of the essential elements for success in prop trading. Several proprietary trading companies are available, and each has advantages and disadvantages of its own. How, then do you pick the best one?

Reputation

When beginning with prop trading, it is important to look at a firm’s reputation. Make sure the company has a track record of success and a reputation for dependability within the sector. Investigate the company and find out what other traders say about it. Some businesses are quite small, while others employ thousands of traders worldwide. Additionally, it’s a good idea to look up the company’s Trustpilot rating. 

Available Resources

You may trade a wide range of assets at prop companies, including equities, futures, and FX. This allows you to select the ideal trading environment and develop your trading abilities. Almost all these businesses permit trading with cryptocurrencies and metals, even though many are classified as FX prop enterprises.

Fees

Before signing up, make sure you comprehend the firm’s cost schedule. Finding a business that fits your budget is crucial since fees vary greatly from one firm to the next. The majority of businesses often charge a one-time cost for an evaluation process. Most businesses provide that money and a refund.