I came across Fidelcrest Challenge when googling for prop trading companies and they seem intresting.
I’ve already signed up but not purchased a Challenge yet and I was wondering if anyone has had any experience with them. Apparently they already have several clients who have passed their trading challenge and are now trading investor funds.
I can share my experience with them as well after I’ve traded with them for awhile.
So far their customer support has been very helpful so that’s encouraging and I’ve read some good things about them from another big Forex forum.
Looks like a scam. I dont understand why they’re charging you money to do the challenge. It doesnt make sense. Looks like a method of making money from sucking people in to do the challenges. Save your money and stay away from them.
I have traded with other prop firms on funded accounts in the past and I find that Fidelcrest challenge has the best overall system and fair rules. Also the profit sharing payout is paid in one day. If you are looking for funding for your trading, Fidelcrest is definitely a good choice!
Yes, I traded their challenge last year and got a funded account without issues. But I didn’t manage to trade the funded account long enough to withdraw because I managed to hit DD limit first.
I took a quick look again at their website and they now have only one step evaluation, before they had 2 steps.
Might give them another try, because I really like their client support + they actually seem to be honest about the fact that they will connect you with real funds (although it’s still a demo account - trades are copied to live account which is owned by the investor).
They also seem to allow holding positions over weekend, which is perfect for my trading strategy.
I suppose one just needs to fallow the rules and reach the profit target.
Let me know how it goes with them so we can share our experience.
I have recently attempted a 50k challenge with them. All was going well, I was up 8.77%, until I fat fingered 5 lots on gold and broke the margin limits. So that ended that but I plan to go again
Here’s why,
The fee is mainly to raise more trading capital for Fidelcrest traders who have passed the Trading Challenge but it also covers our trader monitoring expenses and serves as a trader’s commitment to treat the account with utmost responsibility. A trader has something in the game and the trader monitoring team is working. Also, the fee is just a marginal percentage compared to the account size that you will receive from us and our investors. In other words, the fee is a key towards a funded Professional Fidelcrest account and to gain financial independence. The good news is that you cannot lose more than this fee. On top of that, the Challenge fee will be refunded back to you with your first profit withdrawal from the funded Professional account.
So I just came across Fidelcrest a couple weeks ago. I checked them out and their reviews…the negative as well. The company is just under 2 years old and has made some changes to their rules. Anyways, I jumped in to see what it was all about. I think the main difference is they have margin you need to watch. The rest of the goals/rules are pretty straight forward and reasonable. Is the company there to make money? Of course! All companies are. I have passed challenges on a couple other providers as well. Looks like Fidelcrest is looking for long term traders and not gamblers. One thing I notice across all reviews and other Prop Firms, is people take these opportunities as gambling instead of investment/trading. You would not just throw money at anyone claiming to be a badass trader obviously. A couple hundred bucks, follow the rules, and get access to larger capital? Seems reasonable to me. Again…don’t gamble or cry. Follow the rules and your trading plan and you got nothing to worry about…doesn’t matter WHERE you trade.
I have been signed up to Fidelcrest for about 1 year. The most recent update finally got rid of the annoying margin rule. I passed the Challenge and received my first payout after completing the verification stage. A major positive point with Fidelcrest is you start making money during Verification. My payout was $4,534.75…but I saw one guy got paid out $15K in march for verification stage.
Personally, I think Fidelcrest is well on its way to becoming the best in the Prop Firm space. They let you choose from a large number of Brokers and you can choose ecn or standard spreads when applying. Aside from that, you can basically trade just about any instrument you can imagine depending on the broker you choose.
Being open…I failed 2 challenges…but they were MicroFX accounts with normal strategy. I decided to go for the $200K Aggressive and passed. I guess Aggressive is better for my trading style and with $200K accounts the profit margins can be massive.
Overall, Fidelcrest is a great company, especially after their updates and the customer support team is always there to help.
I also find Fidelcrest becoming one of the best prop firms in existence.
I have been with them for over 2 months now. I just finished the verification phase a few hours ago. I am waiting for the support team to send me the new account details for the professional account and also my 40% profit split that I made during the verification. I will not be withdrawing the profit, I am going to use it for buying another big account challenge.
In terms of customer support, they are honest and always ready with a positive and satisfactory response.
Fidelcrest recently updated their challenge and funding process. Good thing with them is after you pass the challenge, you can start making profit split during the verification stage. Saw that in march someone got paid out $15K just during the verification stage. They finally removed the ridiculous margin trading rule. So they also give you a chance to pick from various brokers and ECN or standard spreads. After these latest updates in march, I think they are easily in the top 3 prop firms in the industry.
I stumbled across Fidelcrest today. I’m very intrigued, but curious: if you don’t reach 10 minimum trading days at the end of the first 30 days after you initiate the challenge, is that it, or does the challenge keep going? In other words, would i have to initiate (pay) a new 30 day challenge, or does the one i already paid for just keep going, provided I don’t hit the drawdown limit?
From my understanding, as long as you’re in profit above the original balance, you can get a free retry. Best to check with their support using their website chat. They’re always very helpful.