Fidelcrest has a thorough verification process to ensure you have a consistent strategy capable of hitting profit targets. Follow these steps to become a qualified prop trader with the firm:
1. Choose An Account
Fidelcrest offers 13 different accounts, depending on your preferred risk level (Normal vs Aggressive) plus your experience and funds (MicroFX+ accounts for small investors vs ProFX+ accounts for professional investors). Check out the section on accounts below to learn more.
2. Choose A Broker
You can trade with seven different brokers (TradeView, IC Markets, XM, Pepperstone, RoboForex, Blueberry Markets, Purple Trading) and several platforms (MetaTrader 4, MetaTrader 5, cTrader). You can change brokers and platforms at the end of each 30-day trading period.
3. Complete The Fidelcrest Trading Challenge (Phase 1)
To complete the challenge, which happens on a demo account, you will need to reach the minimum profit target at the end of the 30-day period. If you do not reach the target profit, you might be able to get a second try for free – check the rewards and referrals section for more.
4. Complete The Funded Verification (Phase 2)
To complete verification, you will need to reach the profit target without reaching the maximum loss levels and submit your KYC documents. You can trade with real funds and earn up to 50% of the profits.
5. Trade With Your Professional Account (Phase 3)
Once you complete the Challenge and the Verification stages, you are officially a prop trader for Fidelcrest. You will be able to trade on a funded account without profit targets and keep up to 80% of the profits during the 30-day trading period. You will need to make sure you don’t reach the maximum allowed losses.
There are also a couple of additional steps to take your trading to the next level:
6. Scaling Up
If you’re progressing with the professional account and would like to invest more, you can the contact customer service team and sign up for the scaling plan. With this plan, you receive a 25% increase in capital every time you have a total gain of at least 15% for three consecutive months.
7. Moving On To Bigger Account Sizes
You can have multiple Verification and Professional accounts. Therefore, once you are comfortable with your account, you can start the process again for larger capital thresholds by paying the corresponding fee and completing the Challenge.
Fidelcrest offers 13 types of accounts, based on experience, risk and investment. All accounts offer leverage trading up to 1:100 and access to more than 1,000 financial instruments. There are two main trading programs:
- MicroFX+: This program has smaller account sizes so it’s a great option to get started, test your strategy, and hone your risk management skills. The smallest account has a fee of €99 and the most expensive is €199 where you will be able to trade with up to $20,000.
- ProFX+: If you are an experienced trader with access to funds, you can use the ProFX+ accounts to invest with up to $400,000. Account fees range from €349 to €1,499. You will have higher profit targets than the MicroFX+ accounts in the Challenge and Validation to demonstrate your skills, but you will also be granted access to higher profits.
Both programs offer Normal and Aggressive accounts. Aggressive accounts allow more losses, but you will need to achieve greater profits and pay more fees. Make sure you are confident in your skills before signing up to an Aggressive account.