Once you execute your first trade, a 30-day period starts automatically. After 30 days, the Challenge is automatically de-activated and all open positions are closed.
No, you cannot trade the Challenge using your personal account. You will receive a brand new account from us.
The fee mainly serves as trader’s commitment to treat the account with utmost responsibility. A trader has something in the game and the psychology is working. Also, the fee is just a marginal percentage compared to the account size that you will receive from us. In other words, the fee is a key towards a funded Fidelcrest account and to gain financial independence. The good news is that you cannot lose more than this fee. On top of that, the fee will be refunded back to you with your first profit withdrawal from the funded account.
Yes. As soon as all the Trading Objectives of the Challenge are met, you can start trading in the Verification phase. The minimum time to complete the Challenge is 10 trading days.
You can trade using Metatrader 4, Metatrader 5
Your trading style is completely up to you. We have no reasons for limiting or restricting your trading strategy, whether it’s discretionary trading, hedging, algorithmic trading, EAs, etc. We even do not impose any limits on instruments or trading strategy.
No, you will receive a brand-new account for Verification.
Yes, as soon as all the Trading Objectives of the Verification are met, you will become the Fidelcrest Trader. The minimum time to complete Verification is 10 trading days.
Unfortunately, you will need to start over. Your journey towards becoming funded by us will take a bit longer, but we need to be sure that you are disciplined and can manage the risk.
At that point, you will have successfully finished your journey towards the Fidelcrest Trader. We will contact you and arrange the details of further cooperation. Of course, you will also get from us a comprehensive assessment of your account with some recommendations for improvement.
The Trading Objectives in Verification are a little bit easier than the Trading Objectives in the Challenge. In the Verification, the profit target is reduced by 50% and the time period is extended to 60 days
FIDELCREST FUNDED ACCOUNT
No, you don’t need to. However, on the Fidelcrest account we require you to close your positions just before the weekend when markets close. In other words, to be flat on Friday evening CET.
After we sign a contract, you will receive the whole 70% of your profits, you will need to deal with taxes on your own.
The profit is divided by the ratio 70:30 in favor of the trader. You will gain a full 70% of the profits. Please note that it is your responsibility to tax it according to your country’s regulations and laws.
Don’t worry, the losses are covered by our company. As long as the Daily loss limit or the Maximum drawdown is not hit, you are free to trade. In the unfortunate situation you hit one of these two limits, your open positions will be automatically closed and you will be contacted by us.
At this stage, the trader is basically free. The only binding rules are the limits on maximum daily loss and maximum drawdown, as our mutual trust is based on them.
Because the real money is at stake at this stage, we as the investor must avoid the uncontrolled risk associated with off-market hours positions holding and also holding during the macroeconomic news that tends to have a significant effect on the market liquidity. For the above reasons it is not permitted to trade in those situations on the funded Fidelcrest account and we require you not to open any new position 5 minutes before up till 5 minutes after the major news release. This doesn’t include speeches. We regularly inform our funded traders about the upcoming news and we will provide the table of the important macroeconomic releases and their affected instruments.
The account will be controlled by our company.
Trader will have the same amount of capital as in the Challenge and Verification. If you are successful and stable in the long run, the capital can be increased
The account management works through the demo account which is connected to our live account with a real capital. Your profits will always come from the results of your demo account.
The relationship between a trader and our company is based on the Contract Agreement that we will send you for signing after you complete the Challenge and Verification.
The whole process depends on your performance in the Challenge and Verification. In the best case scenario, it takes only 20 trading days because we require you to trade 10 days in the Challenge and 10 days in Verification. Usually it takes one to two months to become the Fidelcrest Trader.
The adequate reserve of capital is provided to us by a private investor.
This form of trading is not prohibited in the Challenge or in the Verification phase. However, it is not possible to trade news straddling when you receive the Fidelcrest account and therefore we do not recommend it even in the test phases. Following is the reason:
It may seem that significant price movements on macroeconomic reports have a great potential for profit, but it is very important to emphasize that trading on DEMO accounts does not respect real market liquidity.
Since we are not a brokerage company, we do not fall under the regulatory restrictions related to acceptance of clients from the USA or elsewhere. Hence, even clients from the USA are welcome to trade our Challenge and be funded by our company.