With a $400,000 Funded Fidelcrest Account skilled trader can make up to $240,000/year or even more.
The $400,000 Fidelcrest Trading Challenge is a real-time simulated Forex account where you have to reach 2.5% – 10% profit target within 10 to 30 trading days without violating any trading rules or objectives.
After the successful 1-step evaluation period you are ready to start trading funded Fidelcrest account and earning real money. You will get paid every time you will reach agreed min. profit target per period. With this account your share is, depending on chosen trading strategy. For example with aggressive trading strategy trader can keep up to $20,000/ period + 90% of all profits over $40,000.
|PROGRAM NAME||ProFx Trader|
|Account type:||Demo Challenge|
|Profit target:||Low risk strategy 2.5%
Medium risk strategy 5%
Aggressive strategy 10%
|Instruments:||Forex + all additional instruments|
HOW TO GET FUNDED?
|Week Days||10 a.m – 03 a.m (C.E.T +1)|
TRADING RULES & OBJECTIVES
Please read the fine print carefully before purchasing any trading programs. If you have any questions our Trader Support team is here to help and train you!
To meet this objective, depending on chosen trading strategy, you must trade at least for 10 to 20 trading days during the trading period. At least one position must be opened in 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.
Depending on chosen trading strategy, you must reach 10 to 20 positive days compared to the number of negative days, where a positive day is considered to be such a day where the value of the account balance is higher at 23:59:59 CE(S)T than it was on the same day at 0:00:01 CE(S)T.
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. The rule says that in any moment of the day (CE(S)T – Central 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.
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 CE(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.
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 initial account capital size and chosen trading strategy the difference between highest recorded balance and subsequent lowest equity cannot reach below 5% – 20% in ProFx trading program or 10% – 30% in MicroFx trading program.
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.
Depending on chosen trading strategy the minimum profit target is set between 2.5% to 10% of the initial balance. Profit target means that a trader reaches a profit of at least 2.5% to 10% 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 3 minutes (180 seconds). Scalping is not allowed.
Maximum allowed total and single trade margin usage dependence on chosen initial capital size, trading strategy and your proved trading performance/history. Sign up to find more information
Traders are not allowed to coordinate their trades with third parties or otherwise copy their trading signals from a third party. 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 Signal Provider is not allowed to provide trading signals from Signal Provider Account in any format (digitally or manually) to third parties or any other Fidelcrest Accounts without Fidelcrest approval.
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. Without such granted exception(s), traders who take unreasonable risk may face termination of our relationship.
Traders are allowed to trade multiple challenge accounts at the same time, though the maximum available funded initial capital is USD 400,000 per trader/entity.
All orders are required to have stop-loss and take-profit parameters.
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.
These Objectives are valid and effective as of the 21 of June 2020.
BECOME A FIDELCREST TRADER
“Sign up on TRADER AREA and RECEIVE $95 BONUS! Take a closer look about our trading programs, choose account size, strategy, available brokers and instruments and start the trading challenge.
AND HEY!!! If you are just a beginner in trading and want to test your skills or strategy why not use your sign up bonus to start your first USD 5,000 challenge* with only $24.00 ($99 – $75 Bonus = $24)
Our friendly Trader Support team is also here to help you so please don’t hesitate to start chat if you have any questions.”
(*) Max 1 per trader, total availability 75 accounts.
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