Fidelcrest vs TopStepFX

Fidelcrest: A Prop Firm Catering to Ambitious Traders

Fidelcrest emerges as a highly rated prop firm with an impressive 4.6 out of 5 Trustpilot rating, underlining its credibility in the eyes of many traders. The prop firm distinguishes itself by offering free evaluation reattempts, which adds a layer of financial security and encouragement for traders striving to meet their profit targets. It is worth noting, however, that the profit goals for Aggressive accounts can be quite steep, ranging from 15% to 20%, which may be daunting for some. Tech-savvy traders will appreciate Fidelcrest’s advanced trading technology, branded as Fidelcrest Markets, which boasts zero fees and authentic spreads. The potential to employ a leverage of up to 1:200 is also an attractive feature, especially for those aiming to trade with significant capital, which can go up to $2,000,000. Another trader-friendly policy is the allowance to hold trades overnight and during news, providing more flexibility in trading strategy. Multilingual customer support is another commendable feature, ensuring that users from various backgrounds can navigate their trading journey with ease. However, traders should be aware of the firm's specific rules, such as the Maximum Daily Loss and the presence of a Risk Desk Team, which are in place to balance the risks associated with high leverage. Fidelcrest offers a wide array of deposit and withdrawal methods, including Bank Wire Transfer, Crypto, and Deel, catering to a global clientele.

TopStepFX: Discipline and Risk Management at the Forefront

TopStepFX, an older entity established in 2012, provides traders with funded accounts, enabling many to start trading without the need for significant personal capital. They stand out with their focus on risk management, which not only reflects in their trading conditions but also in their account scalability. The prop firm enacts a structured approach to trading, enforcing daily loss limits and presenting traders with a Scaling Plan that is focussed on sustainable account growth. The necessity for rigorous evaluation to access funded accounts underscores TopStepFX's commitment to fostering disciplined traders. TopStepFX offers accounts denominated in USD and GBP, which may attract a diverse group of traders. However, one should be cognizant of the monthly fees involved and the strict discipline required to navigate their system. The firm's ledger of tradeable instruments is primarily confined to Commodities. This more focused approach could be seen as a con for those looking for diversification in assets like Forex, Crypto, and Indices that Fidelcrest offers. When it comes to withdrawals, the only method currently available is via Bank Wire Transfer, potentially limiting for some clients.

Comparative Summary

Comparing Fidelcrest and TopStepFX gives us two distinct philosophies in prop trading. Fidelcrest’s approach is aggressive, catering to traders who are willing to aim high and have an appetite for substantial leverage. Their tech-forward stance and flexibility in market participation make them stand out. Conversely, TopStepFX gears itself toward rigorous risk management and discipline, appealing to those traders who prefer a structured path to financial growth. Their emphasis on a conservative increase in trading size and rigorous evaluation may yield a more gradual but potentially more stable trading career. Potential users should weigh factors like available asset classes, the level of support in terms of languages and customer service, and the practicalities surrounding deposits and withdrawals. The choice between Fidelcrest and TopStepFX ultimately hinges on the individual trader’s goals, risk tolerance, and preferred trading style.