Fidelcrest vs The Funded Trader

Fidelcrest: An Established Leader in Prop Trading

Fidelcrest excels as a prop firm with an impressive 4.6 out of 5 Trustpilot rating—a testament to the satisfaction of its user base. The firm's commitment to supporting traders is evident with its policy of endless free evaluation reattempts, significantly reducing the pressure on traders to perform perfectly in their first attempt. Offering advanced trading capabilities through Fidelcrest Markets technology, traders can expect zero fees and genuine spreads, allowing for more efficient cost management. The multilingual customer support caters to a global clientele, ensuring a broad range of traders can get assistance in their preferred language. Additionally, traders have the flexibility to hold positions overnight and trade during news events, which is a privilege not always offered by competitors. With the capability to offer leverage up to 1:200 and potential capital scalability to $2,000,000, Fidelcrest presents a compelling proposition for serious traders looking to expand their portfolio. However, the platform is not without its drawbacks. Traders using aggressive accounts must tackle profit goals ranging from 15% to 20%, which can be challenging, especially in volatile markets. Moreover, various rules such as Maximum Daily Loss and restrictions on trading strategies like Martingale may constrain some trading styles.

The Funded Trader: A Rapidly Growing Contender

The Funded Trader emerges as a robust choice for prop traders with an outstanding 4.7 out of 5 Trustpilot rating from over 5,000 reviews. This reflects a high level of trust and satisfaction among its users. One of its unique features is the offering of four distinct funding options with a standard balance up to $600,000, appealing to traders of different calibers. Just like Fidelcrest, the firm offers 1:200 leverage with attractive profit splits ranging between 80-90%. The Funded Trader also provides unlimited free evaluation retries, a beneficial feature for those who need multiple attempts to qualify. Their program includes a scaling plan that allows traders to progressively increase their account size up to $1,500,000. The platform's suite of comprehensive trading tools encompasses not only forex but also cryptocurrency markets, extending trading opportunities beyond traditional assets. However, shortcomings such as the absence of a free trial and slower customer support responses may deter some potential users. The trailing drawdown in their Knight's challenge is another aspect that traders must navigate carefully.

Account Funding and Withdrawals

Both Fidelcrest and The Funded Trader offer modern deposit and withdrawal methods that align with current financial trends, including the use of cryptocurrencies which can provide fast and secure transactions. Fidelcrest presents a slightly wider array of options with the inclusion of Deel and bank wire transfer for both deposit and withdrawal processes. This could be particularly advantageous for traders preferring or requiring traditional banking methods.

Diverse Trading Instruments and Rules

Fidelcrest provides a broad spectrum of tradeable instruments, including stocks, which are not available with The Funded Trader. This may present a critical advantage for traders looking for varied investment opportunities. The rule sets of both firms emphasize prudent risk management, with maximum loss and daily loss limits in place to protect both the trader and the firm. However, restrictions such as 'No Martingale' could impact specific trading strategies, and traders must be cognizant of these stipulations when choosing their prop firm partner.

Conclusion

In comparing Fidelcrest and The Funded Trader, both firms exhibit unique strengths and limitations. For traders seeking a technologically advanced platform with a high trust factor and substantial capital growth potential, Fidelcrest stands out. Conversely, The Funded Trader offers competitive funding options and scaling, along with a passionate user base as reflected in their Trustpilot ratings. Ultimately, the decision between these two firms will hinge on the individual trader's preferences when it comes to account sizes, trading instruments, funding methods, and trading rules. Regardless, both are commendable platforms that offer valuable opportunities for dedicated prop traders.