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Pros
- Suitable for advanced and professional traders
- Large trading capital
- Offers an economic calendar
- Good customer support
Cons
- Restrictive trading rules
- Complaints about payouts
- Not suited for beginner Forex traders
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Fidelcrest Review South Africa 2024: How Does It Compare?
Swen Keller
In the crypto world Swen has consistently found success through his effective communication skills and the unique ability to navigate the details.
- URL: https://fidelcrest.com
- Headquarter: Cyprus
- Year Founded: 2018
- Max. Funded Capital: Up to €2,000,000
- Profit Split: Between 80 to 90% depending on the trading strategy used
- Evaluation Fees: €999 to €3,499
- Trading Platforms: Fidelcrest trading platform
- Tradable Instruments: 175+
- Maximum Leverage: 1:100
- EA allowed: No
- No. of Challenges: 2 (Phase 1 and Phase 2)
- Profit Target: 10%
Fidelcrest Review: Our Opinion
Fidelcrest is best suited for professional South African Forex and crypto traders looking for decent sized trading capital.
It isn’t for beginner traders who need some guidance before they can begin making profits.
The prop firm also has tighter trading rules than most of its competition and practically frowns on automated trading.
Table of Contents
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Company Overview About the Fidelcrest Prop Trading Firm
Fidelcrest was founded in 2018 and is located in Cyprus.
Its management team has more than 10 years of experience working at international brokerage companies.
Fidelcrest has won various awards including the best proprietary trading firm in the United Kingdom in 2022.
The company is a prop firm that gives users access to larger trading capital (up to $2,000,000) after evaluation and verification.
Trading rules like stop loss and take profit for news event trading, no EA trading or bot trading allowed apply on the platform.
Their trading challenge is for traders who already have trading experience.
Fidelcrest: Reviews
Fidelcrest has a 4.6/5 star rating on TrustPilot with 85% of Fidelcrest reviewers giving 5-star reviews. Other reviewers gave the following rating:
4-star: 6% of reviewers
3-star: Less than 1% of reviewers
2-star: 1% of reviewers
1-star: 7% of reviewers
The positive reviews were mainly about the prompt response of Fidelcrest’s customer support team.
On the other hand, most traders who gave the prop firm a negative review on Trustpilot stated that the prop trading firm disqualified them after completing the trading challenge for executing news trading even though it is permitted.
Others stated that they had issues with the payout method used by the prop trading firm as well as felt restricted by the proprietary trading firm as Fidelcrest does not permit using some trading strategies like Martingale.
Key Features of Fidelcrest
Demo Trading
Fidelcrest offers South African traders access to a demo account where they can trade using predefined rules during the evaluation period.
Once they pass the challenge within the specified trading period, they can receive their funding and start trading on the actual account.
The demo account allows traders to perform all supported transactions on the platform.
During the demo trading, traders must adhere to all trading rules and avoid any restricted or forbidden trading strategies or practices.
The type of demo account you get is dependent on the trading conditions of the trading platform that you selected for trading.
Fidelcrest prohibits the use of artificial intelligence software, ultra-high speed, or mass data entry which can abuse, manipulate, or give you an unfair advantage when using demo trading on the platform.
It also prohibits the use of trading strategies that can exploit errors in the display of prices or delay in the update of prices as well as the opening of substantially larger position sizes or larger/ smaller numbers of positions compared to your other trades.
All trades done on the demo trading account are fictitious and simulated. The trading is done with virtual funds. This means that you cannot request for payout for the profits made during your demo trading.
Pro Trader Program
The Fidelcrest Pro Trader program is designed for successful traders who have excellent risk management skills and a stable trading strategy to trade and manage up to $1,000,000 in proprietary trading company capital per trader.
Fidelcrest offers 2 Pro Trader account types: Pro Trader Normal and Pro Trader Aggressive accounts. Normal accounts have 80% profit splits while aggressive accounts have 90% profit share.
Both account types have varying start capital.
Below is a breakdown of each account type and start capital:
Pro Trader Normal
Start Capital: $250,000
Risk: Normal
Price: €999
Maximum Calendar Days: 60
Maximum Loss: 10%
Maximum Daily Loss: 5%
Target profit for Phase 1 and 2: 10%
Target Profit for Funded Accounts: 0%
Start Capital: $500,000
Risk: Normal
Price: €1,899
Maximum Calendar Days: 60
Maximum Loss: 10%
Maximum Daily Loss: 5%
Target Profit for Phase 1 and 2: 10%
Target Profit for Funded Accounts: 0%
Start Capital: $1,000,000
Risk: Normal
Price: €2,999
Maximum Calendar Days: 60
Maximum Loss: 10%
Maximum Daily Loss: 5%
Target Profit for Phase 1 and 2: 10%/10%
Target Profit for Funded Accounts: 0%
Pro Trader Aggressive
Start Capital: $250,000
Risk: Aggressive
Price: €1,999
Maximum Calendar Days: 60
Maximum Loss: 20%
Maximum Daily Loss: 10%
Target Profit for Phase 1 and 2: 20%
Target Profit for Funded Accounts: 0%
Start Capital: $500,000
Risk: Aggressive risk
Price: €3,499
Maximum Calendar Days: 60
Maximum Loss: 20%
Maximum Daily Loss: is 10%
Target Profit for Phase 1 and 2: 20%
Target Profit for Funded Accounts: 0%
Fidelcrest offers unlimited free retries for all Pro Trader account types.
The Pro Trader program is in 3 phases:
Step 1: Trading Challenge
During this phase, you get to choose an account size and risk level that meets your skills and profit targets. You have access to all available instruments and can use your preferred trading style. You can use both normal and aggressive strategies.
The trading challenge lasts for 60 days. There are no minimum trading days for this stage.
Step 2: Verification
The Verification stage lasts for 60 days. In this stage, you get to prove that your success in the first phase was not a mere coincidence or luck. Just like the previous stage, there are no minimum trading days.
Step 3: Fidelcrest Trader
If you pass the verification stage you will become a Fidelcrest trader and can begin trading with the prop firm’s capital. There are no profit targets for this stage.
You only need to ensure that you do not surpass the maximum loss limits.
The maximum daily loss is 10% for a normal account and 20% for an aggressive account.
Fidelcrest offers a commission of up to 90% of all profits made during each trading period. The minimum simulated trading days for Fidelcrest traders is 10 days while the maximum inactivity duration is 30 days.
Micro Trader Program
Fidelcrest’s Micro Trader evaluation and Prop trading program is for traders who want to test their trading skills and strategy before upgrading to bigger account sizes.
The micro trader program teaches basic trading and risk management skills.
Just like with the Pro Trader program, Fidelcrest offers 2 account types: Micro Trader Normal Accounts and Micro Trader Aggressive Accounts. Each account type has varying start capital
Below is a breakdown of each Micro Trader account type and initial capital
Micro Trader Normal
Start Capital: $15,000
Risk: Normal
Price: €99
Funded Account Profit Split: 80%
Maximum Calendar Days: 60
Maximum Loss: 10%
Maximum Daily Loss: 5%
Target Profit for Phase 1 and 2: 10%/15%
Target Profit for Funded Accounts: 0%
Start Capital: $30,000
Risk: Normal
Price: €199
Funded Account Profit Split: 80%
Maximum Calendar Days: 60
Maximum Loss: 10%
Maximum Daily Loss: 5%
Profit Target for Phase 1 and 2: 10%/15%
Profit Target for Funded Accounts: 0%
Start Capital: $60,000
Risk: Normal
Price: €299
Funded Account Profit Split: 80%
Maximum Calendar Days: 60
Maximum Loss: 10%
Maximum Daily Loss: 5%
Target Profit for Phase 1 and 2: 10%/15%
Target Profit for Funded Accounts: 0%
Micro Trader Aggressive
Start Capital: $15,000
Risk: Aggressive risk
Price: €199
Funded Account Profit Split: o0%
Maximum Calendar Days: 60
Maximum Loss: 20%
Maximum Daily Loss: 10%
Profit Target for Phase 1 and 2: 15%
Profit Target for Funded Accounts: 0%
Start Capital: $30,000
Risk: Aggressive
Price: €299
Funded Account Profit Split: 90%
Maximum Calendar Days: 60
Maximum Loss: 20%
Maximum Daily Loss: 10%
Profit Target for Phase 1 and 2: 15%
Profit Target for Funded Accounts: 0%
Start Capital: $60,000
Risk: Aggressive
Price: €399
Funded Account Profit Split: 90%
Maximum Calendar Days: 60
Maximum Loss: 20%
Maximum Daily Loss: 10%
Profit Target for Phase 1 and 2:15%
Profit Target for Funded Accounts: 0%
Fidelcrest offers unlimited retries in the challenge phase. If you cannot reach the Profit Target within 60 days, you can retry as long as you have a positive balance and no drawdown violation has occurred.
Evaluation Process
This proprietary trading firm offers a straightforward evaluation process that consists of 2 trading challenge phases.
A trader must first pay a one-time evaluation fee to get started.
After payment, the trader must hit the profit target (10% for Phase 1 and 15% for Phase 3) under the period of 60 days for the Micro Traders program.
For the Pro Trader phases, the trader undergoing the trading challenge must hit higher profit targets of 10% for phase 1 and 20% for phase 2.
Both trading challenge programs have a maximum loss limit of 5% and 10%.
After the 2 phase trading challenge stage, the prop trading firm requires that traders undergo a trading Verification process, where they confirm how good traders are.
In this stage, micro traders must hit the set profit targets on both normal and aggressive accounts of 5% and 10% for 2 phases.
On the other hand, participants in the pro trader program must hit higher profit targets of 10% to 20%.
The verification stage profit targets must be met under a trading period of 60 days.
After this, you become a Fidelcrest-funded trader and unlike most prop trading firms, you won’t need to hit any profit target.
You only need to stay over the maximum loss percentage mentioned in their trading rules.
Fidelcrest Fees, Charges, and Profit-Share
Fidelcrest charges a one-time fee depending on the account type you choose as well as the trading strategy you intend to use (normal or aggressive accounts), the capital you’re applying for, and the program type (Micro Trader or Pro Trader).
Pro Trader Normal Trading Strategy Fee
The one-time access fee costs €999 for $250,000 initial capital
The one-time access fee costs €1,899 for $500,000 initial capital
The one-time access fee costs €2,999 for $1,000,000 initial capital
Pro Trader Aggressive Trading Strategy Fee
The one-time access fee costs €1,999 for $250,000 initial capital
The one-time access fee costs €3,499 for $500,000 initial capital
Micro Trader Normal Fees
The one-time access fee costs €99 for $15,000 initial capital
The one-time access fee costs €199 for $30,000 initial capital
The one-time access fee costs €299 for $60,000 initial capital
Micro Trader Pro Aggressive Fees
The one-time access fee costs €199 for $15,000 initial capital
The one-time access fee costs €299 for $30,000 initial capital
The one-time access fee costs €399 for $60,000 initial capital
Spreads and Commissions
Fidelcrest prop trading firm charges raw spreads starting from 0 pips and 0 commissions.
Profit Share
Fidelcrest offers different profit share percentages depending on the trading strategy (normal or aggressive) used by the Funded trader. For aggressive trading strategies, the proprietary trading firm offers up to 90% profit share while for normal trading strategies, they offer up to 80% profit.
Fidelcrest Review: Cryptocurrencies and Other Tradable Instruments on Fidelcrest
Fidelcrest supports the trading of over 175 instruments in various markets including CFDs on Cryptocurrencies, Forex, Stocks, Metals, and Commodities.
Forex Pairs
Forex trading is available for the following currency pairs EUR/USD, EUR/GBP, EUR/JPY, GBP/USD, NZD/JPY, GBP/JPY, AUD/USD, AUD/HUF, AUD/CAD, CHF/USD, AUD/NOK, and AUD/CHF.
Commodities
Available commodities include Crude Oil (WTI), Natural Gas, Wheat, Gold vs. US Dollar, Platinum, SoyBean, Silver vs. US Dollar, Corn, and Cocoa.
Stocks
You can trade the following shares CFDs on Fidelcrest:
American International Group (AIG), Caterpillar Inc (CAT), Netflix (NFLX), Adobe System Inc (ADBE), Apple Inc (AAPL), Nike Inc ( NKE), 3M Co( MMM), Visa Inc (V), PepsiCo Inc (PEP) Amazon.com (AMZN), NVIDIA Corp(NVDA), and Tesla Motors Inc (TSLA).
CFDs and Indices
Tradeable indices CFDs include: DAX30, USA30, STOXX50, UK100, USA100, AUS 200, USA500, USOILX, and HKG50.
Cryptocurrencies
Available cryptocurrency pairs include BTCUSD, BCHUSD, EOS USD, XRP USD, LTCUSD, IOTUSD, ETH USD, XMRUSD, BCHBTC, DSHUSD, ETHBTC, and DSHBTC.
Precious Metals
Fidelcrest supports the trading of 2 precious metals: Gold (XAUUSD) and Silver (XAGUSD).
Is Fidelcrest Legit?
From our direct trials and assessments, we can confirm that Fidelcrest is legit. Fidelcrest is registered in Cyprus and operates under the country’s legislation.
That said, since Fidelcrest is not a brokerage company and does not store clients’ funds, it does not require any license or regulation from financial regulators.
Security: Is Fidelcrest Safe to Use?
Our practical experience with this Prop Firm has shown us that it is safe to use. The prop firm has won several awards including Best Proprietary Trading Firm UK 2022, Best Micro Forex In Europe 2021, and People’s Choice Award 2021.
Fidelcrest has several security measures in place to ensure a safe trading environment. And it does not accept any deposits from traders.
Users’ data are stored in an encrypted database and securely destroyed or deleted when they are no longer needed.
Fidelcrest conducts a KYC verification process that is compliant with international AML requirements.
All users are required to submit a Valid photo ID and a proof of address that has the trader’s name and current address. This is to prevent the use of the platform for money laundering and other illegal activities.
Trading Conditions on Fidelcrest
Based on our firsthand observations of this prop firm we can state that Fidelcrest offers tight trading conditions in comparison to competitors.
Fidelcrest Traders are mandated to add a stop loss and take profit when trading news events. You also cannot use Expert Advisors except under the recommendation of their Risk Team as their investors require real traders to use their funds.
That said, you can execute swing trades, and keep trades open during the weekend, and overnight.
Copy trading is also allowed between your accounts or other Fidelcrest users but this must be done manually.
Fidelcrest offers good customer support.
Trading Experience
Folding our rigorous testing of this prop firm, we realized that Fidelcrest is best for professional traders.
The prop trading firm does not offer educational resources or training courses for beginners as their target audience is established traders. It however offers good customer support.
That said, the platform gives users access to over 175 trading instruments including stock CFDs, metals, commodities, Forex, cryptocurrency CFDs, etc.
Different Platforms Used to Trade
Fidelcrest prop trading firm offers MetaTrader 4 and MetaTrader 5 for its supported trading platforms.
Does Fidelcrest Offer Education?
No, Fidelcrest does not offer education as its target audience is professional traders. However, it offers excellent customer support. Also, after passing its verification stage you can get access to a coach.
How Does Fidelcrest Compare with Other Prop Firms
In comparison to its 2 main competing prop trading firms, Blue Guardian, and FundedNext, when compared with these other proprietary trading firms, Fidelcrest has a flexible fee charge. It offers a less expensive pricing option via its micro-trading accounts with lower initial capital.
Fidelcrest also offers more tradable instruments than both prop firms.
That said, its subscription one-time fee isn’t refundable as with Blue Guardian. Traders also have stricter trading rules than with the other 2 options.
Final Thoughts
Fidelcrest is a prop firm built for professional traders who need access to larger capital for increased profits. It isn’t for beginner or newbie South African traders.
The platform is also not as free as other options as it does not permit the use of Expert Advisors except under advisement from its Risk Team.
Also, its Pro Trader accounts are more expensive than the industry average.
That said, Fidelcrest offers one of the largest selections of tradable instruments in the prop firm space, which is where it stands out.
Fidelcrest’s offerings are robust, but the trading landscape is vast. Dive deeper into another top-tier firm with our Instantfunding.io analysis.
FAQ
Most frequent questions and answers
Fidelcrest offers a great opportunity for experienced traders who can demonstrate consistent profits and don’t depend on automated trading capabilities to profit.
Yes, Fidelcrest is one of the best proprietary trading firms. It has been on the scene since 2018 and has received recognition in the prop firm industry including awards such as “The Best Proprietary Trading Firm in the UK in 2022” and Best Micro Forex Firm in Europe in 2021.
The company has had no major controversies since its launch in 2018.
It currently has a 4.6/5 star rating on TrustPilot with minimal negative reviews.
Some of the best Forex brokers in South Africa, include AvaTrade, Exness, IC Markets, and FBS.
Fidelcrest uses FXCH Forex broker to execute trades.
The most reliable prop firm in South Africa depends on your specific goals. For example, Fidelcrest offers up to $2,000,000 in trading funding and targets professional traders. This means if you’re a beginner you’re better off using proprietary trading firms like Blue Guardian or FundingNext.
We always try to provide the most accurate information available, and make sure our team follow through.
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