A lack of capital is one of the most common impediments to traders earning a comfortable living. Even the best strategy will fail to meet your expectations if you cannot scale your profits. Private trading firms provide traders with access to capital by pooling trader funds. They allow traders to trade on a large scale with little risk while also receiving a cut of the profits.
If you are new to the financial markets and have decided to open funded trading accounts, you will most likely see Fidelcrest as a popular player in the niche. The following fidelcrest Review will assist you in examining the service provider’s products, terms, and costs to determine whether it should be considered among the top options.
The Funded Account Offerings
The company offers two types of funded trader accounts and does not restrict users to only trading forex. The challenge account, including CFDs, cryptocurrencies, metals, commodities, stock CFDs, and others, supports over 1,000 instruments from various asset classes. However, the primary focus is forex trading, and the asset classes supported vary depending on the broker.
Fidelcrest collaborates with leading brokers and supports the most popular trading platforms, such as MT4/MT5 and cTrader.
Those just starting in the foreign exchange market will benefit from Fidelcrest’s MicroFX+ Prop Trading Program. Alternatively, beginners who want to put their trading skills to the test before diving into the deep end of larger account options.
The program’s primary goal is to teach traders and new fund managers the fundamentals of trading and risk management. However, it also allows you to earn real money after completing just one phase (min. five trading days).
To be eligible for the program, the trader must complete three steps: a trading challenge phase, a funded verification procedure, and opening a professional account.
Trading Terms and Strategies
Fidelcrest’s deals are widely considered to have the most accommodating terms available.
For example, the company does not restrict you in terms of trading strategy. You can use whatever trading techniques you want if you demonstrate consistency and risk management. Stop-loss orders are not even required (although it is often better if you do).
Swing trading strategies are permitted in the funded trader programs, and you can keep positions open overnight, on weekends, or holidays. The only requirement is to close your positions before the trading period expires.
TopStepTrader 2022 Review: One Of the most Funded Trader Program
TopStepTrader is a funded trader program that assists futures traders in obtaining funding. Because it works with 14 different exchanges, it is one of the best day trading platforms for beginners. To learn more about what TopStep offers, read our top step review.
Pros and Cons
To get started, you don’t need much money.
Support for popular trading platforms is excellent.
A comprehensive set of educational tools, including live classes
14-day risk-free trial
- A high bar for funding
- Expensive membership fees
Our analysis of TopStepTrader demonstrates that its features provide novice and experienced futures traders with everything they need to develop their trading skills to professional levels. This can make the platform appear appealing to job seekers looking to break into the industry. However, users are never guaranteed to receive a funded account.
Trading Platform with No Fees
Although TopStep’s Trading Combine supports more than 14 platforms, TSTrader is the best beginner platform.
Strader does not charge fees for Combine trades; on a Funded Account, it charges $0.79 per contract. It’s compatible with any device, has all the standard charts you’ll need to manage your day trading business, and allows for extensions written by others. While it lacks many advanced features in trading platforms such as NinjaTrader and TradeStation, TSTrader allows beginners to become acquainted with all of the fundamental concepts.
TopStep continues to add new platforms to its portfolio. TradingView, one of the best platforms for active traders, is now supported.
A thriving community is one of the best features TopStepTrader has to offer. Users can ask questions in the interactive chat room, which both simulation users and funded traders staff.
TopStep communities are also active on social media. By far, the most active community is on Facebook.