Are you ready to show off your trading skills and handle a big fund? If yes, you might consider Fidelcrest and FTMO, two prop trading firms that offer traders like you this opportunity.
Fidelcrest lets you trade in many different ways and gives you some room to move at your own pace. It’s suitable for those who want to try various trading styles and need a bit of freedom to show what they can do.
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FTMO shines with its promise of a higher profit share and strong support, including educational resources. It suits confident traders ready for a tough challenge and aim for higher earnings from their successful trades.
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So, are you ready to take on the trading challenge? Whether you’re leaning towards the diverse options of Fidelcrest or the rewarding structure of FTMO, this is your chance to step into the arena, apply your trading strategies, and potentially manage a substantial fund. The question is, which path will you choose? Fidelcrest or FTMO?
In this article, we’ve put together an in-depth comparison of Fidelcrest vs FTMO. It’s packed with detailed insights to help you decide which platform best fits your trading style and goals.
Quick Overview: Fidelcrest vs FTMO
FTMO and Fidelcrest are renowned proprietary trading firms providing traders with funded accounts after successfully completing specific challenges and verification processes. While both firms operate under no regulatory body, their structured approaches toward evaluating and funding traders have gained them significant popularity in the trading community
Fidelcrest’s Trading Account Options
Fidelcrest caters to a variety of traders by offering accounts that provide access to over 1,000 financial instruments. The firm is praised for its comprehensive training programs and outstanding support services. Profit splits can reach up to 70%, with two main account options: Micro Trader and Pro Trader, each available in Normal and Aggressive settings.
Account Types and Conditions
Micro accounts range from $15,000 to $60,000 in funding, with distinct conditions for profit targets, trading days, and loss limits based on the chosen risk level. For example, the Micro Trader account has a 3% overall loss limit, a 15% profit target under normal conditions, and a 7% loss limit with a 10% profit target for aggressive trading.
Pro Trader accounts offer funding from $100,000 to $1 million, with leverage up to 1:100. These accounts also undergo a two-step evaluation, focusing on trading days, daily, and overall loss limits. To learn more, read our comprehensive Fidelcrest review here!
KYC Compliance
Fidelcrest requires traders to complete a Know Your Customer (KYC) process, submit necessary documents to meet trading parameters, and ensure a secure and compliant trading environment.
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FTMO’s Path to Funded Trading
FTMO challenges traders with a comprehensive three-step evaluation process aimed at identifying skillful and disciplined traders. Initially, candidates must take the FTMO Challenge, aiming to hit specific profit targets within a 30-day timeframe.
Success leads to the Verification Procedure, a 60-day phase to prove consistency in trading performance. Successful completion of both stages may result in an offer to manage FTMO’s capital, with account sizes ranging between $10,000 and $400,000.
Currency Trading Focus
FTMO is renowned for its focus on forex trading, offering access to 44 currency pairs and 10 cryptocurrencies alongside other instruments like cash indices, commodities, and stock CFDs.
The firm provides free access to leading trading platforms: MetaTrader 4, MetaTrader 5, and cTrader, making it an ideal choice for currency traders.
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Fidelcrest vs FTMO: Regulation, Safety, and Trading Platforms
Neither FTMO nor Fidelcrest is regulated, operating out of the Czech Republic and Cyprus, respectively. Both companies have established a presence in the market, with their long-term operation and awards adding to their credibility.
When it comes to trading platforms, FTMO offers MT4, MT5, and cTrader, whereas Fidelcrest provides MT4 and MT5 but not cTrader.
Fidelcrest vs FTMO: Trading Conditions, Costs, and Leverage
Both firms offer various trading plans with different managed amounts, trading periods, profit targets, and cost structures. FTMO’s plans start with a one-time payment of 155 EUR, while Fidelcrest’s plans start from 99 EUR for Micro Trader accounts and go up to 3799 EUR for higher Pro Trader accounts.
Fidelcrest vs FTMO: Trading Assets
Both Fidelcrest and FTMO offer a broad range of trading assets, catering to traders with diverse interests and strategies. The main categories of assets (forex, commodities, indices, stocks, and cryptocurrencies) are available through both firms, allowing traders to participate in a variety of markets. The differences between the two may come down to the specifics of the assets available, such as the exact currency pairs, stock options, or indices one can trade.
Fidelcrest vs FTMO: Trading Restrictions
For traders who received real equity to manage after passing the exam, there are restrictions on daily/total loss of 5% / 10%
Fidelcrest and FTMO offer similar trading conditions, with both emphasizing flexibility in trading strategies while maintaining specific risk management rules. The key differences lie in FTMO’s more detailed restrictions on news trading for certain accounts and the explicit allowance for algorithmic trading on both platforms, with Fidelcrest adding an individual consideration.
These differences highlight the importance of choosing a trading platform that aligns with one’s specific trading strategies, risk tolerance, and preferences regarding trading during news events and using automated systems.
Fidelcrest vs FTMO: Profit Split and Restrictions
Regarding the profit split between Fidelcrest and FTMO, there are distinct differences. Fidelcrest offers up to a 70% profit split to traders, allowing them to retain up to 70% of the profits they generate. This structure is quite beneficial for traders, giving them a substantial share of their successful trades.
On the other hand, FTMO provides a more favorable profit split, ranging from 80% to 90% to traders. This profit split is significantly higher than what Fidelcrest offers, indicating that traders working with FTMO can keep a larger portion of their earnings.
The higher profit split range at FTMO suggests a more trader-centric approach, possibly attracting those who aim to maximize their earning potential from their trading strategies.
Fidelcrest and FTMO have different rules about how much money traders can use. Fidelcrest lets traders use up to $2 million, which is a lot more than FTMO. This means Fidelcrest might be looking for traders who can handle a lot of money. They might trust these traders a lot or have a good way to help them grow.
On the other hand, FTMO only lets traders use up to $400,000, which is much less than Fidelcrest. This difference could mean FTMO is more careful or they want to help traders who are just starting or don’t have much experience with a lot of money.
Fidelcrest vs FTMO: Payment Methods
FTMO offers a wider array of payment methods, including traditional options like wire transfers and credit cards, modern methods like crypto and Google Pay, and e-wallets like Skrill. This diversity can cater to a broader audience, making it easier for users to find a payment method that suits their preferences.
Fidelcrest, while offering a narrower range of options, focuses on popular online payment systems such as PayPal, Neteller, and Skrill. This could appeal to users who primarily rely on these services for online transactions but might deter those who prefer more traditional or varied payment methods.
Frequently Asked Questions:
How much of the trading profit is withdrawable?
Typically, at the end of a predefined trading period, traders are entitled to withdraw between 50% and 90% of their profits. The exact percentage varies according to the terms outlined in a particular trading agreement. Proprietary trading firms may also reward successful traders with higher payout percentages and extra bonuses, as an incentive for their achievements.
How much funding can I receive as a trader?
Proprietary trading firms tailor their trading plans to match the financial capabilities and requirements of individual traders. Typically, beginners are provided with plans ranging from $10,000 to $25,000. However, traders who demonstrate success can manage funds up to $1 million.
Selecting a proprietary trading firm
Begin by identifying a leading proprietary trading firm for evaluation. Assess it against its main competitors. Opt for the firm that aligns seamlessly with your trading approach and preferences. Apply to your chosen firm and meet their specified requirements.
Is prop trading accessible to everyone?
A specific educational background or status is not required to become a prop trader. The primary factor for selection is one’s capability to trade effectively and satisfy the risk/reward criteria set by the company.
Conclusion: Which Prop Trading Firm is Right For You?
When deciding between Fidelcrest and FTMO, traders should consider their trading style, profit goals, and preferred tools.
Fidelcrest offers a broad range of trading options and is well-suited for those seeking diversity in strategies and a more flexible trading environment, with account options up to $2 million. However, it restricts the use of automation tools like Expert Advisors.
FTMO attracts traders aiming for higher profit shares (80% to 90%) and specializes in forex trading, offering advanced platforms like MT4, MT5, and cTrader. Its structured evaluation process is ideal for disciplined traders confident in their abilities.
Both firms are unregulated but have established credibility within the trading community. The choice boils down to Fidelcrest’s flexibility and educational support versus FTMO’s higher profit potential and focus on forex trading. Traders must weigh these factors against their personal trading preferences and goals to make the best decision.
