Fidelcrest vs True Forex Funds

Comparative Analysis of Fidelcrest Vs. True Forex Funds

When selecting a proprietary firm to partner with, retail traders often look closely at key differentiators such as reputation, technological prowess, customer support, and trading conditions. In this review, we will compare and contrast Fidelcrest and True Forex Funds in each of these aspects to assist you in making an informed decision.

Reputation and Trust

Both Fidelcrest and True Forex Funds boast excellent Trustpilot ratings of 4.6/5. This high level of user satisfaction indicates that traders generally have positive experiences with both entities. However, Fidelcrest has been in the market since September 2018, giving them a slightly longer track record compared to True Forex Funds, which started in October 2021.

Trading Conditions and Technology

Fidelcrest stands out with its advanced Fidelcrest Markets technology, offering traders zero fees and real spreads, enhancing the potential for profitability. Additionally, Fidelcrest caters to high volume traders by providing a maximum leverage of 1:200 and capital up to $2,000,000, which can be a significant advantage for experienced traders aiming to scale their strategies. True Forex Funds, on the other hand, provides a more conservative leverage of 1:100 but compensates with a flexible trading style and an impressive 80% profit share. The emphasis here is on allowing traders to retain a significant portion of their earnings, which can be particularly rewarding for consistently successful traders.

Customer Support and Language Accessibility

The availability of multilingual customer support from Fidelcrest speaks volumes about their commitment to accommodating a global trading community. This feature is vital in cultivating a diverse user base and providing effective support.

Trading Rules and Objectives

Fidelcrest has a structured set of rules including maximum daily loss, maximum loss, and profit targets. Notably, the firm does not permit strategies like the Martingale, and has a Risk Desk Team monitoring trading activities. These regulations point to a focus on risk management and sustainable trading practices. True Forex Funds shares some similar rules but does not explicitly prohibit certain strategies. With both firms allowing flexibility in terms of holding trades overnight and during news events, they exhibit an understanding of various trading strategies and styles.

Financial Transactions

In terms of deposit and withdrawal methods, both firms offer modern convenience with options like bank wire transfers and cryptocurrency. This flexibility ensures that traders have access to their funds and can manage their capital with ease.

Account Offerings and Currencies

Variety is notable in Fidelcrest’s range of account sizes—from $15,000 to $1,000,000 USD—which can cater to different levels of trader experience and capital commitment. True Forex Funds offers account balances in multiple currencies (EUR, GBP, USD), which may appeal to traders who prefer to trade in their domestic currencies or hedge currency exposure.

Tradeable Instruments and Account Currencies

Both firms provide a broad spectrum of tradeable instruments including forex, commodities, crypto, and indices. However, Fidelcrest extends the offering to stocks, whereas True Forex Funds includes metals, which could be a determinant factor depending on a trader's market preference. The choice of account currency is also a differentiator, with Fidelcrest offering only USD, while True Forex Funds offers a selection amongst EUR, GBP, and USD.

Cons and Considerations

Fidelcrest presents rather ambitious profit goals for Aggressive accounts, which might deter some traders looking for more modest objectives. True Forex Funds is critiqued for high evaluation account prices and commission costs, alongside a strict 5% maximum daily equity-based drawdown, possibly limiting some aggressive trading strategies. In summary, both Fidelcrest and True Forex Funds offer compelling propositions for retail traders. Fidelcrest’s technology edge, high leverage, and substantial capital offerings contrast with True Forex Funds' trader-centric profit sharing and flexible trading across various currencies and account sizes. Ultimately, the most suitable firm will align with a trader’s individual goals, risk appetite, and strategy preferences.