Where is Fidelcrest based?
Fidelcrest is a prop firm located in Nicosia, Cyprus.
Fidelcrest vs Other Trading Challenges
Additionally, Fidelcrest offers a profit split payout of up to 90%, which is higher than the industry standard of 50%. Another unique feature of Fidelcrest is that it allows traders to trade Forex and other CFDs like Indices, Metals, Commodities, Stocks, and Crypto.
- Axi Select.
- FTMO.
- The Forex Funder.
- E8 Markets.
- True Forex Funds.
- The 5%ers.
- Funded Next.
Fidelcrest is a moderate-risk prop trading firm with the TU Overall Score of 6.43 out of 10.
FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.
Fidelcrest is an award winning prop firm that funds traders worldwide with up to 2M in capital and offers generous profits splits up to 90%. Receive your first payout up to 30K in as little as 15 days just for passing the Challenge (Step 1) and Verification Phase (Step 2)!
Yes, prop firms do pay. While there are some scams out there popping up everyday, reputable prop trading firms like True Forex Funds, FTMO,5%ers,FundedNext are legitimate and pay traders according to their profit-sharing agreements. As for True Forex Funds, I can vouch for their credibility.
FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.
FunderPro: FunderPro is the most popular alternative to FTMO. It has a similar two-step challenge process, but the requirements are slightly more lenient. For example, the FunderPro Challenge requires a 10% profit target in 30 days, while the FTMO Challenge requires a 12% profit target.
A prop trading firm looks to recruit talented traders and fund them with the company's capital. The funds that a trader makes, is then split between the trader and the company. The profit share is between 50 – 95%, with the trader taking the lion's share.
What trading platform does Fidelcrest use?
Fidelcrest allows traders to trade on their preferred platform, MT4 or MT5, and provides excellent customer support.
Is Fidelcrest regulated? No, Fidelcrest is not regulated.
Trade Forex, Indices, Metals, Commodities, Stocks and more! Fidelcrest Trading Challenge accounts have a leverage rate up to 1:100.
- FTMO: evaluations starting at $399.
- TopStepTrader: Challenges starting at $375.
- T4tCapital: Flexible evaluation options starting at $299.
- Funded Trading Plus: Starting at $25.
- Earn2Trade: $99 Mini challenge.
- True Trading Group: $49 evaluation with a $25,000 virtual account.
{quote} FTMO (unless you are a US citizen), The5ers, and City Traders Imperium are the three oldest prop firms, and probably the only ones with 5+yrs reputable history of reliable payouts. I'd start with those three.
Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this "challenge." If you lose money during this evaluation, you won't owe anything beyond the initial fee.
Trading Restrictions
For example, Fidelcrest prohibits traders from using hedging strategies, while FTMO does not allow traders to hold positions overnight.
Leading no-time-limit prop firms like FTMO, Smart Prop Trader, Blue Guardian, and FundedNext also stand out for offering high profit splits, funded accounts starting from just $500, advanced trading platforms, and valuable skill enhancement tools.
Traders are required to meet profit targets to complete a $1 million funded account prop firm challenge. These profit targets build the challenge program for traders to prove their skills, talent, and achieve their goals. Choose from a range of trading instruments including forex, crypto, stocks, indices, and metals.
Limited Control Over Capital and Payouts:
- Traders in prop firms often have limited control over the firm's capital. They may need to deposit their own money as collateral or risk management. - Additionally, payouts are subject to the firm's rules, which may restrict a trader's access to profits.
What is the failure rate for FTMO?
The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.
Yes, as a funded trader with True Forex Funds, it is possible to make a living from prop trading firms. Proprietary trading firms, or prop firms, often provide traders with the opportunity to trade with the firm's capital, allowing them to access larger trading positions and potentially increase their profits.
Therefore, when a funded trader makes profits – it costs the company money. The only way that traders can be paid is from other traders signing up and failing their prop firm challenges – This is literally a Ponzi scheme. Winners getting paid out because of losers. These firms will be shut down by the regulators.
Prop trading firms have been shutting down or suspending their services, particularly to U.S.-based clients, because of a crackdown from MetaQuotes, the company behind the popular MetaTrader trading platforms.
Loss of the FTMO Trading Account: FTMO sets maximum drawdown limits that traders must adhere to. If your account balance falls below this limit due to trading losses, FTMO may terminate the trading account, and you would no longer have access to their capital.
