Traders Union Experts Shed Light on Fidelcrest's Legitimacy

Although it is easy to believe the most well-known prop firms and assume they are authentic, double-checking is always a good idea. There have been stories of novice traders who started a prop company challenge as part of the verification process but ended up incurring significant losses in their demo account due to slippage, freezes, and a variety of other “induced problems” by these firms.

To avoid problems like this, Traders Union experts reviewed props firms to find out whether they are legit and safe and also investigated is a Fidelcrest scam? This post will highlight one of the prop firms Traders Union Analyst reviewed – Fidelcrest.

Fidelcrest Background 

Fidelcrest has continuously increased its business since its inception in 2000. It is now well-known on a global scale. Its global team has both development and financial goals. It releases quarterly financial reports and holds investor meetings to reveal financial results.

The corporation built global offices in many countries. Fidelcrest Ltd is a company based in Nicosia, Cyprus. Fidelcrust SVG Ltd is again based in Kingstown, St. Vincent, and the Grenadines. Prop500.com Ltd is another global office based in the United Kingdom.

Fidelcrest provides quick access to live accounts for its traders. These accounts can be funded with a maximum of $400,000. Fidelcrest’s management team comprises seasoned experts and Forex traders who have previously worked with brokerage firms. However, the official website has no information about the company’s operator or owner.

According to the Fidelcrest team, the company aims to help retail clients make consistent profits over time. There are over 6000 active traders, and Fidelcrest has established itself as a reputable trading prop firm. Furthermore, it provides numerous account size options to fit the needs of every trader.

The trading challenge program starts with an evaluation phase. You can trade with a practice account while adhering to the trading regulations. You will receive the fund after completing the challenge during the trading session. Traders can choose from over 1000 trading instruments. You can avoid breaking any rules by reviewing the Trader Agreement.

Is Fidelcrest legit?

Fidelcrest is a legal property management company, not a broker. It does not trade or hold money. The registered office is in Nicosia. According to Traders Union experts, no red flags have been raised about its operations. Fidelcrest has worked with several reputable and FCA-regulated marketplaces.

Although the organization maintains several industry-standard security protocols, it is necessary to exercise caution when disclosing personal information.

Is Fidelcrest legit in my country?

Some beginners wonder if Fidelcrest is safe and legal in their countries. Fidelcrest has piqued the interest of traders from all around the world. The prop firm’s IT department is based in Estonia. Fidelcrest also operates in the United Kingdom, Australia, Turkey, Chile, Spain, Nigeria, Ecuador, South Africa, and the United States. However, investing and trading rules in the United States are stringent, so citizens should verify the laws of their own country for further clarification.

Is Fidelcrest a scam or safe?

Fidelcrest does not require a license from financial regulators because it is not considered a brokerage firm. Fidelcrest does not keep your money.

Fidelcrest, on the other hand, has developed a two-tier management system. It comprises the Executive Management Board and the Board of Directors. The Board of Directors considers Fidelcrest’s strategies and monitors its various activities. The Executive Operations Board, on the other hand, examines the prop firm’s daily business operations. Internal systems and risk management are the responsibility of both of these management groups.

Advantages of Fidelcrest.

•       There is no need for a comprehensive scaling plan to manage a $1000000 account.

•       Receive a bonus when you move to a Fidelcrest genuine account.

•       Receive up to 50% of profits as a credit.

•       There is a  wide range of assets from numerous markets, including equities, Forex, CFDs, and cryptocurrencies.

•       It has a profit target of 5%.

•       Withdrawals and deposits can be made via various payment methods.

Disadvantages of Fidelcrest.

·      The time-consuming two-phase evaluation process.

·      Instructional and informational materials are scarce.

·      It has a trading limit of 30 days- TraWhich is not ideal for long-term trading methods.

Conclusion

With the information above, it can be concluded Fidelcrest scam does not exist. This Prop firm is a legal, safe, and legit entity