Fidelcrest vs TradingFunds

Fidelcrest: Comprehensive Review

Fidelcrest emerges as an experienced player in the prop trading arena with its inception in September 2018. It boasts a high Trustpilot rating of 4.6/5, reflecting strong client satisfaction. One of the firm's major strengths is its policy of allowing unlimited free evaluation reattempts, which significantly reduces the pressure on traders at the evaluation stage and can be particularly appealing for those new to the prop trading ecosystem. With the integration of Fidelcrest Markets technology, traders can take advantage of advanced trading tools, zero fees, and tight spreads, which effectively align with professional trading requirements. Another notable pro is the user-friendly multilingual customer support which ensures that traders from various backgrounds can access assistance without language barriers. Additionally, the firm's flexibility is showcased in its permission for traders to hold positions overnight and trade during news without restrictions, creating an environment conducive to various trading strategies. Attractive leverage of up to 1:200 and access to capital as substantial as $2,000,000 can be a huge draw, especially for experienced traders looking to maximize opportunities. On the downside, Fidelcrest sets profit goals ranging from 15% to 20% for Aggressive accounts, which may be perceived as steep targets that can impose considerable challenges on traders aiming to secure funding. Fidelcrest mandates compliance with a rule set including maximum daily losses, maximum overall losses, and a prohibition on the use of Martingale strategies. This demonstrates the firm's focus on risk management but can also be perceived as a restriction on trading styles. Deposit methods are trader-friendly, encompassing bank wire transfers, cryptocurrencies, and credit/debit cards, while withdrawal options are equally versatile, including the novel platform Deel. With six different account sizes, ranging from $15,000 to $1,000,000, Fidelcrest provides versatility for traders at various investment and experience levels. The array of tradeable instruments encompasses commodities, cryptocurrencies, forex, indices, and stocks, allowing for diversified trading portfolios.

TradingFunds: Comprehensive Review

A newcomer to the scene, incorporated as recently in February 2023, TradingFunds has quickly made a name for itself with an impressive Trustpilot rating of 4.3/5. The single-step evaluation process contrasts with Fidelcrest's approach and may appeal to those who prefer a quicker path to trading real funds. Leverage offerings vary from 1:10 to 1:100, offering a range that caters to both conservative and aggressive trading approaches. Promising a generous profit share of between 80% to 90%, TradingFunds positions itself as a firm that highly rewards successful traders. It supports flexible trading conditions, including the ability to trade over the weekend and during news events, while also allowing unrestricted trading strategies, which is a significant allure for traders who employ a variety of approaches. The cons of TradingFunds include higher evaluation account fees, which could deter some traders from starting the evaluation process. Another critical aspect is their trailing drawdown rule, which could perplex traders used to a static drawdown approach. Moreover, the initial low leverage at 1:10 might not satisfy traders who prefer high-risk, high-reward strategies. Additionally, a 2% maximum stop loss for each instrument may be restrictive for those wanting to employ broader risk parameters in their trading. TradingFunds has established clear operational guidelines, such as maximum trailing drawdown and mandatory stop losses, indicating a disciplined risk management strategy, which could reassure risk-averse traders. Their deposit avenues are all-encompassing, facilitating ease of transactions via cryptocurrencies, credit/debit cards, and PayPal - a widely accepted and convenient payment service. Withdrawal options are on par with the competition, providing flexibility with crypto, Deel, and notably, PayPal. While specific account sizes are not detailed, it is assumed TradingFunds offers a range of options similar to industry standards. The firm covers an extensive selection of tradeable instruments, including commodities, cryptocurrencies, forex, indices, and metals.

Final Thoughts

Both Fidelcrest and TradingFunds showcase unique pros and cons, catering to different types of retail traders. Fidelcrest impresses with its mature presence and customer satisfaction levels, whereas TradingFunds, although newer, is competitive with its streamlined process and hefty profit share offers. Ultimately, the choice between the two will hinge on individual traders’ preferences regarding account conditions, risk management, available instruments, and the intricacies of the evaluation process. Potential users are encouraged to weigh each firm's offerings against their trading style and goals to make an informed decision.