Fidelcrest – Prop Trading Firm Review

Hey there folks, Andrew Bloom of Disciplined FX here! Heads up, this post contains affiliate links to products and companies I’ve personally evaluated and selected in order to provide you with useful resources for your own trading journey!

A Portfolio of Prop Trading Firms

Last month, I had the honor of passing a $200k FTMO challenge. 

It was quite a rewarding feeling to be able to achieve this level of trading after years of study, practice, trial and error, and not to mention, a number of serious losses and mistakes made with trading Forex markets. 

As I started to do some research on how to manage a prop trading account, I also received good advice from commenters on the DFX YouTube channel as to how to best approach acquiring and managing a portfolio of prop trading accounts. 

It seems that one of the best courses of action is to trade with two to four accounts, so as to create a payout calendar that keeps money coming to you more regularly than once a month, and to also minimize the amount you need to risk in each account so as to protect against losing any one of them. 

Thus, I sought out another firm besides FTMO. 

If we think of prop trading as similar to investing, then it makes sense to diversify our prop trading resources to avoid any single firm from causing us problems, so long as we can stay organized and on top of managing different platforms and rules. 

So I didn’t want to just run another FTMO account. 

I also wanted to take advantage of the unique promotions and offerings from other firms, that can complement some of the more rigorous aspects of the FTMO challenge. 

For example, there are firms that offer fewer required days traded or a profit target of 8% instead of 10%.  

Recently, I came across Fidelcrest again, which was originally part of my research when I was first selecting a prop trading firm for my first challenge. 

Last week I signed up to trade their 200k “normal” risk challenge. I want to share my reasons why I selected Fidelcress, over say, Funding Talent, as well as a little review of my impressions of this firm, so far. 

[Before we dive in though if you want to learn more about the scalping approach and strategies I use to succeed with Forex markets, check out the Disciplined FX Scalping Strategy Course! Students have access to the resources and strategy I used to pass the FTMO and The Prop Trading challenges and will continue to receive updates and new videos of any new strategies I implement in my trading.]

My ultimate goal is to not only help you profit but also empower you with frameworks and tools to begin to craft your own strategies that fit your trading style, as well. 

So Without further ado, let’s dive into why Fidelcrest was my selection for my next prop trading experience. 

Fidelcrest’s Prop Trading Challenge: Pro’s and Con’s

First off, let’s talk about the rules and parameters of the challenges this firm offers. 

For the purpose of this post, I’m going to focus on the $200k account, which is an option from their Pro FX+ program. 

I prefer a slightly larger account so as to squeeze a bit more profit from my strategies without needing to risk more of the account than necessary. 

So with a $200k challenge as our example, it appears that the challenge costs significantly less than FTMO’s $200k challenge and Fidelcrest requires a minimum of ten trading days each for step 1 and step 2 of their challenge.  

This is similar to FTMO’s trading requirements, and Fidelcrest also requires a profit target of 10% for “normal” risk, while losing no more than 5% on the day or 10% of the account overall.

The verification stage also requires a 10% target, which is comparatively a disadvantage when you consider that most prop trading challenges only require a 5% profit target during verification. 

However, before you decide against Fidelcrest, it’s beneficial to consider the fact that they’re one of the few prop trading challenges that payout for their verification stage with a 40% profit split returned to you. 

So if your profit target is $20,000, then your verification payout could be at least $8,000. 

Theoretically, you can get paid this amount in as little as twenty days, which is much quicker than waiting as short as a month and twenty days for a FTMO payout. 

This verification payout is much better than nothing or the couple of hundred bucks returned to you with your challenge purchase refund. 

Speaking of, Fidelcrest does not refund the prop challenge fee but again, you earn significantly more with a verification payout than a refund. 

If you don’t meet the 10% target but end the first phase in profit, you can try again with a new challenge at no extra cost to you. 

They also have scaling plans up to $800,000 and you can have multiple trading accounts with Fidelcrest. You can use any trading style you like and you can trade with news. 

However, you are only allowed to trade one challenge phase one at a time. 

What I like about Fidelcret, or rather, what I don’t really like about Funding Talent, is that while Funding Talent has complicated rules despite seemingly quicker payouts and fewer challenge requirements, Fidelcrest keeps its rules simple, it pays out earlier than other large account challenges, and also provides more freedom to its traders to take risks as appropriate to their strategies. 

Their format is to link you with a brokerage firm of your choice, which you decide on when you apply, and currently the firm only offers MT4 and MT5 platforms to trade from. 

Now, as I’ll recommend with any prop challenge, please don’t rely on Youtube alone to find answers to your questions – reviews are just secondary sources, you need to be sure to get the most accurate information from the primary source itself, and the best place to do that is with the prop firm’s FAQ page. 

You can access Fidelcrest’s FAQ page HERE

My Fidelcrest Application

So for my challenge with Fidelcrest, I decided to use a MT4 account through IC Markets with a raw spread, as I like to use scalping strategies. 

Fidelcrest ReviewThe interface for their account dashboard is very simple to use. 

Their response time for e-mails, questions, and setting up your account is quick, usually within 24 hours, although I ran into an issue with their e-mails being sent to my spam folder, so it took me a few days to access my account even though I had already received the information. 

So be sure to check your spam folder when it comes to signing up for trading challenges, especially with firms that operate outside of your country. 

Overall, I’m excited to trade this challenge and honestly, I think I like Fidelcrest a lot more than FTMO because the challenge rules are simpler, you receive your first payout more quickly, and you’re given more freedom with trading during news and holding overnight trades. 

So if you’re looking for your first or next trading challenge, I highly recommend checking out Fidelcrest. 

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I wish you all the best of strength and luck, and I’ll see you in the markets! Take care.