Competition Account – Initial Capital USD 10,000 – Aggressive2020-12-31T15:50:37+00:00

Project Description

MicroFx Competition
Winner Gets USD 100,000
Funded Capital

MicroFx Competition is available for all traders who have purchased MicroFx Aggressive strategy account FREE OF CHARGE. New competition starts every month and there is 3 categories; USD 5,000, USD 10,000 and USD 20,000. The best Trader of the category will receive 10X BIGGER FUNDED ACCOUNT!

TRADING CHALLENGE + FREE COMPETITION

Fidelcrest Trading Competition
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Ongoing Round

Round ends and winners are locked in at 2021-02-19 23:59:59 GMT+2.

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The winner of this leaderboard will receive a 10 X BIGGER verification (phase 2) account!

COMPETITION SCHEDULE

ROUND STARTS ENDS RESULTS
BETA round 01/Dec/2020 31/Dec 2020

1/2021 11/Jan/2021 19/Feb/2021

2/2021 01/Feb/2021 12/Mar/2021
3/2021 01/Mar/2021 09/Apr/2021
APPLY OPENS 20/Feb
4/2021 05/Apr/2021 14/May/2021
APPLY OPENS 13/MAR
5/2021 03/May/2021 11/Jun/2021
APPLY OPENS 10/APR
6/2021 31/May/2021 09/Jul/2021
APPLY OPENS 15/May
7/2021 05/Jul/2021 13/Aug/2021
APPLY OPENS 11/Jun
8/2021 02/Aug/2021 10/Sep/2021
APPLY OPENS 10/JUL
9/2021 06/Sep/2021 15/Oct/2021
APPLY OPENS 14/AUG
10/2021 04/Oct/2021 12/Nov/2021
APPLY OPENS 10/SEP
11/2021 01/Nov/2021 10/Dec/2021
APPLY OPENS 16/Oct
12/2021 29/Nov/2021 07/Jan/2022
APPLY OPENS 13/Nov

Next MicroFx competition starts: on 1st February, 2021 and ends 12th March, 2021 at 23:59

COMPETITION RULES

Trading Rules and Objectives: MicroFx Trading Challenge, Aggressive strategy

Competition round period: 30 trading days e.g. 6 weeks

Maximum number of participants: 50 accounts per category

Minimum number of participants: 1 per category

To win the competition: You have to reach at least 10% / complete the challenge phase before the round ends without violating any rules or objectives and you have to have the highest profit percentage within your category. ($5000, $10,000 or $20,000)

HOW TO JOIN?

Sign up on Fidelcrest Trader Area. When applying in Trading Challenge choose: MicroFx Competition + Account Size + Competition Round (ongoing round or the next round).

If you choose to join in ongoing round you will receive your account within same business day. If you have chosen to join in the next round you will receive your account when the next period starts.

Competition round period is always 30 trading days e.g 6 weeks. If you choose to join in ongoing competition you can keep on trading to complete your challenge even if the competition round has ended (as long as you have trading challenge days left and you haven’t violated any trading challenge rules).

The next round starts on Monday 1st February, 2021.

COMPETITION – F.A.Q.

Which rules apply to MicroFx competition accounts?2020-11-26T21:32:19+00:00

Rules and objectives to follow are exactly the same than if you would be trading any MicroFx Aggressive challenge account.

Is there any minimum profit target to win the competition?2020-11-26T21:32:55+00:00

Yes. Rules in competition are the same as with MicroFx challenge so to complete the challenge phase trader must reach min. 10% profit within 30 trading days.

Is there any minimum or maximum number of participants in monthly trading competitions?2020-11-26T21:33:30+00:00

There is no minimum number but maximum number of participants is 50 per category. Trading competition starts every month no matter how many participants there are.

Can I take part in competitions in the middle of the competition’s trading period?2021-01-12T17:09:42+00:00

Yes. You can choose to apply to ongoing competition or to the next round. If you choose to join to the next starting round, you will receive your account on the day when the next round will start. If you join in ongoing round you will receive your account within same business day. 

Will I earn money if I will win the competition?2020-11-26T21:36:16+00:00

No you won’t. But you will complete the Challenge phase like all who have reached at least 10% and you will receive a 10 times bigger funded verification account. With a funded verification account you will receive commission after you have reached the profit target without violating the rules.

Will I pass the trading challenge if I have reached the 10% profit target during the competition?2020-11-26T21:37:02+00:00

Yes you will. But if you didn’t win the competition you are not going to receive 10x bigger capital.

What if there are 2 or more winners with exactly the same profit amount?2020-11-26T21:37:56+00:00

Who reached the highest profit first will be the winner.

Why I can’t see in advance how many participants there will be trading in my category?2020-11-26T21:39:40+00:00

To avoid scamming like; one trader or group of traders will purchase several accounts if they can see there are only few other participants, even if it is not allowed.

What is the maximum amount of accounts one trader can trade in competition?2020-11-26T21:43:54+00:00

Maximum Trading Challenge account amount is 2 and/or maximum trading challenge initial capital can’t exceed $400,000/per trader.

What happens if I will win the competition for example with USD 20,000 Aggressive account?2020-11-26T21:44:45+00:00

You have a chance to upgrade your MicroFx account to USD 200,000 Aggressive ProFx account. If you choose to upgrade your account you will receive a USD 200,000 funded verification account and you will start trading with those rules and objectives.

Can I use any discount promo codes or my bonus balance to take part in competition?2020-11-26T21:46:28+00:00

No. You have to choose are you going to get a challenge account with discounted price or shall you also want to take part in competition with a chance to receive 10 times bigger capital. (You can only use only one promo code during the checkout)

Can I use promo code to get a second try free and at the same time take part in competitions?2020-11-26T21:47:14+00:00

No you can’t. You have to choose are you going to use promo code to get a second try free or shall you take part in a competition with a chance to receive 10 times bigger capital. (You can only use only one promo code during the checkout)

What if I don’t want to start trading my account. Can I get refunded?2020-11-26T21:48:04+00:00

Normal refund policy applies to all accounts and programs. You can get refunded in any case if you haven’t started to trade your account and if it is less than 14 days from your account purchase.

Can I trade other challenge or funded accounts at the same time for example ProFx $200K Aggressive risk account?2020-11-26T21:49:03+00:00

Yes you can as long as you won’t be trading more than 2 challenge accounts at the same time and/or your total challenge account capital won’t exceed $400,000 and as long as you are not trading these accounts with the same strategy.

What information are you publishing about competition winners?2020-11-26T21:51:28+00:00

We will publish the trader’s first name, first letter of his/her last name, country of residence and a trader’s metrix. We can also publish more information about winners if they will agree to interview / allow us share more information. Competitions have also Telegram groups where all participants are invited to join.

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MicroFx – Aggressive Strategy

Account Details

1: Challenge 2: Funded Verification 3: Funded Professional
Risk type: Aggressive Aggressive Aggressive
Available Brokers: ALL ALL ALL
Available Instruments: ALL (Depends on broker)  ALL (Depends on broker)  ALL (Depends on broker)
Available Platforms: MT4/5, cTrader MT4/5, cTrader MT4/5, cTrader

Min. Profit Targets

STEP 1: STEP 2: STEP 3:
To proceed to the next phase: 10% 5%
To keep an account 10% 2.5%
To earn commission: 5% 5%

Trader Commissions

STEP 1: STEP 2: STEP 3:
Min Profit target for commission: 5% 5%
– Commission of reached profit target: 50% 50%
– Commission of profit above profit target: 50% 90%
– Commission payments: End of the Period End of the Period

Trading Rules & Objectives

STEP 1: STEP 2: STEP 3:
Trading period: 30 trading days 30 days 30 days
New period starts: Anytime After previous ends After previous ends
Min. trading days: 10 days 10 days
– Positive days: 10 days 10 days Not monitored
Max loss: 20% 10% 20%
– Max daily loss: 10% 10% 20%
Max leverage: 1:100 1:100 1:100
Stop Loss (SL) orders: Required (recommended) (recommended)
Take Profit (TP) orders: (recommended) (recommended) (recommended)
Max total margin usage: 30% 15% 30%
– Single trade margin usage:  20% 10% 20%
– Max Lot sizes: Not monitored Not monitored Not monitored
News event trading: Not allowed Not allowed Not allowed
EA: Allowed Allowed Allowed
Min position duration: 10 sec 10 sec 10 sec
Closing open positions: For weekends For weekends End of the Period

Account and Capital limits (per trader at the same time)

STEP 1: STEP 2: STEP 3:
Max amount of trading accounts: 2 1 2
Max amount of initial trading capital (MicroFx): USD 400,000 USD 400,000 USD 400,000
START CHALLENGE

Detailed Explanation of Rules & Objectives:

STEP 1: Trading Challenge phase

  • Prove that you can trade by reaching min. profit target within 30 trading days without violating any rules or trading objectives.
  • If you can’t reach the profit target within 30-trading/business days and you haven’t violated any rules you will get a second chance free of charge (same account type and size). If you will violate any rules or objectives, your challenge account will be failed. All Fidelcrest accounts have automatic 24/7 monitoring. Only news event trading might be reviewed manually after your trading period has ended.
  • Once the Challenge phase has been completed you are ready to enter Funded Verification phase and start earning real money.

STEP 2: Funded Verification phase

  • Prove that you can trade with a funded account (under strict risk management) and reach min. profit target within 30 calendar days without violating any rules or trading objectives.
  • You can keep on trying to reach min. profit target as long as you have reached min. profit to keep the funded verification account
  • You can withdraw your commission for that trading period once you have reached min. profit target for commission payout and passed the verification phase. After that, you are ready to enter Funded Professional Account phase.

STEP 3: Funded Professional account

  • You are now one of our team members and you will receive commission after every trading period you’ve managed to reach agreed min. profit target for commission.
  • You can trade your Funded Professional account as long as you won’t reach loss limits or violate any trading rules and objectives. Each trading period takes 30 calendar days.

MicroFx and ProFx programs have 2 different min. profit targets. One profit target to complete evaluation phase and/or receive commissions and another profit target for the funded account which needs to be reached to earn a share of your profits.

MicroFx Program’s Profit targets and trader commissions:

To complete MicroFx Challenge Phase a trader has to reach min. 5% with normal risk strategy and 10% with aggressive strategy. If the trader can’t reach chosen profit target or the trader violates any other trading rules or objectives, challenge will be failed.

After completing the Challenge phase, a trader can start trading with a Funded Verification Account. Min. profit targets for Professional Funded Accounts are: normal risk strategy 2.5% / aggressive strategy 5%. The trader will get 40% commission of profits made during the trading period with a normal account and 50% with an aggressive account after reaching the min. profit target. Minimum profit targets to keep the verification account (= Try again) are: with normal risk strategy 0% and with aggressive strategy 2.5%.

  • Example 1: The Trader makes +12% ($2,400) profit with MicroFx normal strategy USD 20,000 account. Trader receives 40% of $2,400 = $960 and receives a Funded Professional Account.
  • Example 2: The Trader makes +1.5% ($300) profit with MicroFx normal strategy USD 20,000 account. Trader won’t receive any commission but  can try again to reach min. profit target of 2.5% to complete the verification phase as min. profit target of 0% to keep the account was reached.
  • Example 3: The Trader makes +12% ($2,400) profit with MicroFx aggressive strategy USD 20,000 account. Trader receives 50% of $2,400 = $1,200 and receives a Funded Professional Account.
  • Example 4: The Trader makes +1.5% ($300) profit with MicroFx aggressive strategy USD 20,000 account. Trader won’t receive any commission and Funded Verification Account will be failed as min. profit target of 2.5% to keep the account wasn’t reached.

When Funded Verification period has been successfully completed = Trader has reached 2.5% with normal risk strategy or  5% with the aggressive strategy, then the trader will receive commission from verification period and will receive Funded Professional Account.  Min. profit target to keep an account will be removed with a Funded Professional Account. This means that the Trader can trade his/her account as long as the trader won’t reach maximum loss limits or violate any other objectives. To receive commission with the Funded Professional account, a trader has to reach min. 2.5% profit target with the normal risk strategy and min. 5% profit target with the aggressive strategy.  With the normal risk strategy, a trader will receive 40% of reached min. profit target and 80% of all profits made above min. profit target. With the aggressive strategy a trader will receive 50% of reached min. profit target and 90% of all profit above min. profit target.

ProFx Program’s Profit targets and trader commissions:

To complete ProFx Challenge Phase a trader has to reach min. 7.5% with normal risk strategy and 15% with aggressive strategy. If the trader can’t reach chosen profit target or the trader violates any other trading rules or objectives, challenge will be failed.

After completing the ProFx Challenge phase, trader can start trading a Funded Verification Account. Min. profit targets to get a Professional Funded Account are: normal risk strategy 5% / aggressive strategy 10%. The trader will get 40% commission of trading profits with a normal account and 50% with an aggressive account after reaching the min. profit target. Minimum profit targets to keep the verification account (= Try again) are: with normal risk strategy 0% and with aggressive strategy 2.5%.

  • Example 1: The Trader makes +12% ($12,000) profit with ProFx normal strategy USD 100,000 account. Trader receives 40% of $12,000 = $4,800 and receives a Funded Professional Account.
  • Example 2: The Trader makes +1.5% ($1,500) profit with ProFx normal strategy USD 100,000 account. Trader won’t receive any commission but the trader can try again to reach min. profit target of 5% to complete the verification phase as min. profit target of 0% was reached.
  • Example 3: The Trader makes +12% ($12,000) profit with ProFx  aggressive strategy USD 100,000 account. Trader receives 50% of $12,000 = $6,000 and receives a Funded Professional Account.
  • Example 4: The Trader makes +1.5% ($1,500) profit with ProFx  aggressive strategy USD 100,000 account. Trader won’t receive any commission and Funded Verification Account will be failed as min. profit target of 10% wasn’t reached.

When Funded Verification period has been successfully completed = Trader has reached 5% with normal risk strategy or 10% with aggressive strategy, then trader will receive commission from verification period and will receive Funded Professional Account. With Funded Professional Account min profit target to keep an account will be removed. This means that the Trader can trade his/her account as long as the trader won’t violate maximum loss limits or any other objectives. To receive commission with the Funded Professional account trader has to reach min. 5% profit target with the normal risk strategy and min. 10% profit target with the aggressive strategy. With the normal risk strategy, the trader will receive 40% of reached min. profit target and 80% of all profits made above min. profit target. With the aggressive strategy the trader will receive 50% of reached min. profit target and 90% of all profits made above min. profit target.

To meet this objective, depending on chosen trading strategy, you must trade at least for 10 trading days during the trading period. At least one position must be opened on each of these days.

  • A trading day means a day when at least one trade is executed
  • If a trade is held over multiple days, the day when the trade was executed is considered as the trading day.

You must reach at least 10 positive trading days during the Challenge and Verification phase, where a positive day is considered to be such a day when the value of the account equity is higher at 23:59:59 EE(S)T than it was on the same day at 0:00:01 EE(S)T. After completing the verification phase positive days are no longer monitored/required.

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

Depending on your trading program, phase and chosen trading strategy the difference between highest recorded balance and subsequent lowest equity cannot reach below 5% – 20%.

For example if the maximum loss is 5%, here is the formula for Maximum Loss calculation:

  • Current Equity / Highest Recorded Balance x 100% = must be over 95% at all times.

This rule can also be called “trader’s daily stop-loss”. According to our trading challenge rules, depending on your trading strategy and initial account capital size this is set between: ProFx trading program 2.5% and 10% and MicroFx trading program 5%  and 15% from the initial capital value. After the challenge phase maximum daily loss limit is reduced by 50%. The rule says that in any moment of the day (EE(S)T – Eastern European Summer Time +3), 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.

For example, in the case of the Challenge with the initial capital of $100,000, the Max Daily Loss limit is $1250. If you happen to lose $1000 in your closed trades, your account must not decline more than $250 this day. It must also not go -$250 in your open floating losses. The limit is inclusive of commissions and swaps.

Vice versa, if you profit $1000 in one day, then you can afford to lose $2250, but not more than that. Once again, be reminded that your Maximum Daily Loss counts your open trades as well. For example, if in one day, you have closed trades with a loss of $1000 and then you open a new trade that goes into a floating loss of some -$300 but ends up positive in the end, unfortunately, it is already too late. In one moment, your daily loss was -$1300, which is more than the permitted loss of $1250.

Be careful, the Maximum Daily Loss resets at midnight EE(S)T! Let’s say that one day you had a profit of $1500. On the same day, you have an open position with a currently floating loss of $2000. On this day, the maximum daily loss is not violated. The current daily loss is $500. ( $1500 closed profit – $2000 open position). However, if you hold this position with the open loss of $2000 after midnight, the daily loss limit will be violated. This is because your previous day profit doesn’t count towards a new day and the open loss of $2000 exceeds the max daily permitted loss of $1250.

The size of the Maximum Daily Loss gives trader enough space for trading and it guarantees a clearly defined daily risk to the investor. Both the trader and investor benefit from this rule as the account value will not drop below the limit. That’s also why Maximum Daily Loss limit includes your possible floating losses.

Depending on chosen trading strategy and phase the minimum profit target to complete the phase or earn commission is set between 2.5% to 15% of the initial balance. Profit target means that a trader reaches a profit of at least 2.5% to 15% of the initial account balance in the sum of closed positions on the assigned trading account in 30 trading days. Also, at the end of the trading period, all positions must be closed.

For example: If you trade Challenge with $100,000 capital + low risk strategy targeting min. 2.5% month = your profit target is $2,500.

Minimum position duration is 10 seconds. Scalping is not allowed (trades are allowed to close with TP/SL before 10sec). S/L need to be attached to every trade before the trade is closed at market price.

Maximum allowed margin usage with programs vary between 10% to 30%  depending on account type and phase. In the challenge phase there is more margin available than in verification phase. After the verification has been successfully completed margin usage will be set to the normal level between 10% to 15%. Margin usage may be increased with professional funded accounts after 2 or more trading periods if trader’s strategy requires more margin usage and trader has proved that he/she can manage risks with larger margin usage.

HOW DOES THE MARGIN CALCULATION WORK?
For example, you might be taking a position for a currency pair, and neither the base nor the quote currency is the same as the currency used on your account. As a result, the margin requirement for these kinds of trades can be calculated in a currency that is different from what your own account deals with, which makes calculating margins a bit more difficult.
Let’s say that you decided to trade with GBP and JPY. The currency you use in your account is USD. Suppose that you then decide to take a position with 10,000 units of currency. This means that you are buying 10,000 GBP against an equivalent number of JPY. You are paying in JPY and buying in GBP, but in reality, you are buying JPY with USD. As far as your broker is concerned, your margin requirement will be calculated solely in USD, or your main account currency.

The formula is: MarginPercentage = (MT4_margin / MT4_equity * 100)
Even if margin stays constant, equity is still moving up and down, changing the margin %.

It is prohibited to open orders on any instrument 5 minutes before and after high impact news. Economic events that cannot be traded can be found in Trader Area (https//:my.challenge.fidelcrest.com) under the menu link “Economic Calendar”.

Please remember, high impact news can affect instruments that are not directly correlated to the country releasing its economic data.

During the Challenge and Verification phases all open positions must be closed for weekends (Friday 00:00 EE(S)T +3). With the Funded Professional Account all open positions must be closed latest on the last day of the trading period.

Traders are not allowed to coordinate their trades with third parties or otherwise copy their trading signals from a third party or any other Fidelcrest account. Fidelcrest shall have the right to deem that Traders coordinate or copy their trades if several trades with the same instruments in the same direction are made within one minute of each other.

The Trader is not allowed to provide trading signals from any Fidelcrest Account in any format (digitally or manually) to third parties or any other Fidelcrest Accounts without Fidelcrest approval.

Traders are allowed to trade max 2 challenge phase accounts, only 1 funded verification phase account and max 2 funded professional account at the same time. The maximum available funded initial capital with MicroFx program is USD 20,000 and with ProFx program USD 400,000 per trader/entity. Initial capital can’t be combined to one account if the trader has completed more than 1 challenge account.

Your trading strategy in the challenge phase must be consistent during the whole trading period.  Your trading must demonstrate that your strategy works in the long term and is not based on pure luck.

  • Example 1: Trader purchases 10 challenge accounts and trades them all at the same time with different strategies. Trader manages to reach profit target with 1 account and fails other 9. Has this trader proved that he can trade with other people’s money or was he just lucky with one of his accounts?

The client has the right to cancel the ordered services within 14 days of purchasing the services (Fidelcrest Trading Challenge Evaluation Fee). The client is aware and agrees that this does not apply after starting to use the services, meaning opening the first trade on the allocated Challenge account.

Based on your individual trading methods, it is possible to be granted an exception, however, exceptions are granted only after an interview with our Risk Management team. All possible exceptions must be added on TOU/agreement. Without such granted exception(s), traders who take unreasonable risk may face termination of our relationship.

These Objectives are valid and effective as of the 6th of October 2020.

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MicroFX COMPETITION ACCOUNT SIZES & CATEGORIES

Purchase a MicroFx Aggressive Program and join in competition with other MicroFx traders. The winners of each competition category will receive a 10X Bigger  ProFx Account. Rules and objectives for each account size remain the same as listed. Competition is just a bonus for MicroFx Challenge and there is no additional fees to join in.

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