The Trading challenge2021-04-02T13:49:55+00:00

Q & A – The Trading Challenge

What do I have to do to complete the challenge phase?2021-03-29T18:57:50+00:00
  1. Reach the profit target within 30 calendar days
  2. Not to hit daily or maximum loss limits
  3. To reach a minimum amount of trading days (Normal strategy 10, aggressive 5). Trading day = you have to open at least one position every trading day
  4. To close all positions after you have reached the profit target and minimum amount of trading days
Why do I have to hold all my positions for a minimum period of 10 seconds?2021-03-29T18:59:27+00:00

We have the rule because it’s very easy to generate huge gains with scalping the market on demo accounts. Please note that we copy funded account trades to our live coverage account where we pay out your share of profits.

There is no slippage on demo accounts and we cannot replicate such trades on live environment with a funded account.

What happens after I have completed the Challenge phase?2021-03-29T19:01:18+00:00

Congratulations! You have now become one of our funded traders. 

Before starting your funded account, you have to upload required KYC documents in the Trader area and sign an agreement (digitally in the Trader area). 

Funded Verification trading periods always start on Mondays 2pm EE(S)T. You will receive your new account credentials normally at least 4 hours before the agreed start time via email.

Can I trade multiple challenge accounts at the same time?2021-03-29T19:02:22+00:00

No you can’t – it’s only allowed to trade one Challenge account at a time.

Can I get my evaluation fee refunded after completing the challenge?2021-05-10T15:23:07+00:00

Yes! This offer applies to all MicroFX+ account sizes and trading strategies. After you have completed the challenge phase, you will get your evaluation fee refunded to your bonus wallet. You can’t withdraw funds from the bonus wallet but you can use the balance to purchase new challenge accounts.

What broker can I choose?2021-03-29T19:04:52+00:00

Currently available brokers are: TradeView, IC Markets, XM Markets, Blueberry Markets, Purple Trading, Pepperstone, RoboForex.

What instruments can I trade?2021-03-29T19:05:40+00:00

Our traders are allowed to trade all available instruments with a chosen broker. This includes but not limited to: FX, CFDs, Cryptos, Metals, Commodities, Stock CFDs.

What trading platforms can I use?2021-03-29T19:07:07+00:00

With Fidelcrest, you can trade using MT4/MT5 or cTrader platforms (ProFX+ only).

How long is the trading period?2021-03-29T19:08:11+00:00

Trading period is always 30 calendar days.

What is the minimum time to receive a funded account?2021-03-29T19:09:44+00:00

Minimum trading period is 5 trading days (MicroFX+ Aggressive). You will receive a funded account within 3 business days since the status has been set to “Completed”. Please note that the funded account trading period always starts on Mondays 2pm EE(S)T.

Is there a positive days requirement?2021-03-29T19:10:38+00:00

No, there isn’t.

What if I have losing trades?2021-03-29T19:11:49+00:00

All losses are covered by Fidelcrest. That is the reason why we have Maximum loss limits to prevent losing all of allocated trading capital and protect investor funds

How are maximum loss and daily loss limits calculated?2021-03-29T19:17:37+00:00

Maximum loss: This rule can also be called “account stop-loss”. Maximum Loss is the difference between your highest recorded balance and your current equity.

 

Maximum daily loss: This rule can also be called “trader’s daily stop-loss”. The rule says that in any moment of the day (EE(S)T – Eastern European Summer Time), the result of all closed positions in sum with the currently open floating P/Ls (profits/losses) must not hit the determined daily loss limit. 

 

The counting formula: Current daily loss = results of closed positions of this day + result of open positions.

What if I can’t reach the profit target in the challenge?2021-03-29T19:18:32+00:00

In such a case, you can try again by purchasing a new Challenge account.

Is news event trading allowed in the Trading Challenge?2021-03-29T19:20:18+00:00

Yes, you can trade news but please be careful as high impact economic news releases can cause extremely volatile market conditions.

Do I have to place Stop/Loss orders?2021-03-30T10:02:39+00:00

No, you don’t. you are not required to use stop loss orders but it is recommended that you do.

Is swing trading allowed?2021-03-29T19:22:52+00:00

Yes , swing trading is allowed.

Do you allow overnight positions?2021-03-29T19:23:38+00:00

Yes, you can keep trades overnight.

Do I have to close positions for weekends/trading holidays?2021-03-29T19:24:43+00:00

No, in the Trading Challenge you can keep trades open over weekends and trading holidays.

When do I have to close all positions?2021-03-29T19:25:23+00:00

All positions have to be liquidated before the trading period ends.

Can I use EA or robots?2021-04-05T20:24:15+00:00

Fidelcrest and its investors are mostly looking for real traders who can trade based on their own analysis and don’t rely on EA’s or trading robots. However, since our business is to find profitable traders, an exception for EA’s and trading robots might be granted by our Risk Team. In order to get such exception, please contact our Customer Support Team.

Please remember that showing proper risk management is one of the key values we look for in our traders.

Can I copy-trade or let someone else trade my account?2021-03-29T19:27:10+00:00

Copying trades from another account is not allowed due to risk management, nor are you allowed to let a 3rd party trade your account.

Can I trade however I like?2021-03-29T19:28:16+00:00

Yes, your trading strategy is totally up to you but we’re looking for consistency with your trading during all phases.

Why can’t I get a share of profits in the Challenge phase?2021-03-29T19:31:22+00:00

Challenge phase is designed to evaluate your trading and risk management skills with a demo account. Your trades won’t be executed on real markets so there is no profit to share in the real world. Once you complete the Challenge, we have the data and proof you can manage a funded account.

When am I eligible to join your Scaling Plan?2021-04-02T16:33:41+00:00

All traders who have completed their first trading period with a Professional Account can opt for Fidelcrest Scaling Plan to reach $800,000 in account balance.

How long does it take to double my initial balance with Fidelcrest Scaling Plan?2021-04-02T16:34:08+00:00

It only takes 12 months to double your initial balance. That is quicker than any other proprietary trading company is offering.

What is the maximum amount I can trade with Fidelcrest Scaling Plan?2021-04-02T16:34:18+00:00

After 12 months, you can be trading $800 000.

What do I have to do in order to start with Fidelcrest Scaling Plan?2021-04-02T16:34:28+00:00

After you have completed your first trading period with a Professional Account, please contact our customer support team to ask for an Agreement for the Scaling plan. After agreement is signed, you will automatically be added to Fidelcrest Scaling Plan.

Can I trade more than $800 000 with Fidelcrest Scaling Plan?2021-04-02T16:34:36+00:00

We can make certain exceptions to allow keep on scaling after one year if the trader has shown exceptional gains and good risk management with their Professional Account.

SIGN UP FOR MORE INFORMATION

Questions & Answers

Explore our Knowledge Base to find answers to frequently asked questions

Any Questions? Let’s Talk!
Go to Top