Fidelcrest safety and regulation
Disclaimer:
Since the publication of this article, there have been significant changes in the status of Fidelcrest. As of now, the company's website and social media accounts appear to be inactive, multiple attempts to contact the company directly via phone and email support have also gone unanswered. The information provided in this review was accurate at the time of writing, based on the company's operations and our experiences. However, the current situation suggests that the company may no longer be operating as described. The company cannot be recommended given the lack of available information and the inability to reach them. Due diligence is strongly advised before engaging with Fidelcrest or relying on any past analysis or evaluation.
Fidelcrest is an international proprietary trading firm, operating its business since 2019. You can invest with reduced risks and higher volume as a prop trader. However, is Fidelcrest a safe platform for your investment?
The prop firm does not hold the client’s money or trade. However, an FCA-regulated broker holds the funds of the proprietary trading company.
Every prop trading firm needs to stick to strict rules and regulations. So, before creating your Fidelcrest account, you must know whether the prop firm is legitimate for traders. You can avoid Fidelcrest scam by evaluating the platform's reliability, and this blog about Is Fidelcrest legit has all the details for your clarity.
Is Fidelcrest legit?
Fidelcrest is a legitimate prop firm and not a broker. It does not trade or hold any funds. Its registered office is located in Nicosia. No red flags against its operations have been noticed till today. Several reputable and FCA-regulated platforms have partnered with Fidelcrest.
Although the firm follows various industry-standard protocols for security, it is important to be cautious while sharing personal details.
Is Fidelcrest legit in my country?
Some beginners have a question: Is Fidelcrest safe and legit in their countries? Fidelcrest has gained the attention of traders from different countries. The IT department of the prop firm is located in Estonia. Besides, Fidelcrest runs its business in several other countries, including the UK, Australia, Turkey, Chile, Spain, Nigeria, Ecuador, South Africa, and the USA. However, investment and trading laws are very rigid in the USA; thereby, residents need to check the laws of their country to fetch more clarity.
Is Fidelcrest a scam or safe?
As Fidelcrest is not considered a brokerage company, no license is needed from financial regulators. Your money is not stored in Fidelcrest.
However, a 2-tier management structure has been implemented by Fidelcrust. It consists of the Executive Management Board and the Board of Directors. The Board of Directors evaluates the strategies and checks the different activities of Fidelcrust. On the other hand, the Executive Management Board analyzes the daily business management of the prop firm. Both these management bodies are responsible for internal systems and risk management.
Fidelcrest pros and cons
There are both positive and negative sides to Fidelcrest.
👍 Fidelcrest pros:
• No need for a complicated scaling plan to manage an account of $1000000.
•Get a bonus while switching to Fidelcrest real account.
• Win a credit of up to 50% of profits.
• Large quantity and variety of assets from various markets like stocks, Forex, CFDs, and cryptocurrencies.
• 5% profit target.
• Withdrawals and deposits via different payment modes.
👎 Fidelcrest cons :
• The 2-phase evaluation process that is time-consuming.
• Lack of educational and informative materials.
• 30-day trading limit- Not suitable for long-term trading strategies.
Fidelcrest background
Since the year of establishment, Fidelcrest has been steadily growing its business. Today, it has gained international recognition. Its global team has developmental and financial targets. It discloses financial reports quarterly and hosts investor meetings to reveal financial results.
The company established its global offices in different countries. Fidelcrest Ltd was set up in Nicosia, Cyprus. Again, Fidelcrust SVG Ltd is located in Kingstown, the Grenadines, and St. Vincent. Prop500.com Ltd is another global office established in the UK.
Fidelcrest gives its traders easy access to live accounts. These accounts can be funded with an amount of up to $400,000. The management team at Fidelcrest comprises experienced professionals and Forex traders who have worked with brokerage companies. But, the official website has not revealed the details about the operator and owner of the company.
According to Fidelcrest’s team, it has a goal to assist retail clients in making consistent profits over a long period. There are 6000+ active traders, and Fidelcrest has become a reputed trading prop firm. Moreover, it offers multiple account size options for meeting every trader’s needs.
The trading challenge program begins with an assessment process. You can trade with a practice account while following the pre-determined trading rules. After passing the challenge in the trading period, you will receive the fund. There are 1000+ trading instruments available for traders. You can check the Trader Agreement to avoid violating any rules.
FAQs
Is Fidelcrest a safe trading firm to work with?
While Fidelcrest is not regulated, they have established itself as a reputable proprietary trading firm with a track record of success and positive reviews from its traders.
What security measures does Fidelcrest have in place to protect traders' data?
Fidelcrest uses advanced encryption technologies and strict access control measures to protect traders' data and ensure the confidentiality of their personal and financial information.
What happens to traders' funds in the event of Fidelcrest's insolvency?
In the event of Fidelcrest's insolvency, traders' funds are protected by the company's segregation policy, which ensures that traders' funds are kept separate from the company's operational funds.
Does Fidelcrest offer any insurance or compensation scheme for traders' funds?
Fidelcrest does not offer any insurance or compensation scheme for traders' funds, as they operate as a proprietary trading firm and not a broker.
Team that worked on the article
Upendra Goswami is a full-time digital content creator, marketer, and active investor. As a creator, he loves writing about online trading, blockchain, cryptocurrency, and stock trading.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).
