FTMO vs. Fidelcrest: A Comprehensive Comparison for Aspiring Prop Traders
When it comes to proprietary trading, FTMO and Fidelcrest are two of the most well-known firms that provide traders the opportunity to trade with substantial capital after passing a structured evaluation. Both companies offer funded accounts, but they have distinct approaches to the evaluation process, risk management rules, profit-sharing models, and more. In this article, we will compare FTMO and Fidelcrest to help you determine which firm is the best fit for your trading goals.
1. Overview of FTMO
What is FTMO?
FTMO is one of the largest and most recognized proprietary trading firms in the world, offering a structured process for traders to earn capital for trading. Founded in 2015, FTMO has grown rapidly, especially in the forex trading community, although it also provides opportunities for trading commodities and indices. The company offers a two-step evaluation process to assess traders’ profitability and risk management skills, allowing them to trade with firm capital once they pass.
Key Features:
- Trading Opportunities: FTMO primarily offers access to forex, commodities, and indices, such as EUR/USD, GBP/USD, gold, and the S&P 500 index.
- Evaluation Process: The evaluation process consists of two stages: the FTMO Challenge and the Verification phase. Traders must meet profit targets while adhering to strict risk management rules in both phases, including drawdown limits and daily loss caps.
- Account Sizes and Scaling: FTMO provides account sizes ranging from $10,000 to $200,000, with the option to scale up as traders prove their profitability and consistency over time.
- Profit Share: Once traders successfully pass the evaluation, they can earn up to 90% of the profits generated from their funded account.
- Risk Management: FTMO enforces strict risk management rules, including daily loss limits, maximum drawdowns, and minimum trading days to ensure that traders maintain discipline while trading firm capital.
2. Overview of Fidelcrest
What is Fidelcrest?
Fidelcrest is another reputable proprietary trading firm that provides funded accounts to traders after they successfully complete an evaluation. Founded in 2018, Fidelcrest has rapidly grown in popularity due to its attractive profit-sharing models, low entry fees, and supportive approach to traders. The firm offers a simple yet effective evaluation process, providing traders with opportunities to trade a wide range of financial instruments.
Key Features:
- Trading Opportunities: Fidelcrest offers a wide variety of trading instruments, including forex, commodities, stocks, and indices, giving traders a broader range of markets to choose from.
- Evaluation Process: Fidelcrest’s evaluation consists of two stages, similar to FTMO: the Fidelcrest Challenge and the Verification phase. Traders need to meet profit targets and follow risk management rules during both phases.
- Account Sizes and Scaling: Fidelcrest offers a variety of account sizes, ranging from $10,000 to $200,000. Traders can scale up their accounts as they demonstrate profitability and risk management skills.
- Profit Share: Once traders pass the evaluation, they are eligible for a profit share of up to 90%, making it highly competitive in the prop trading industry.
- Risk Management: Fidelcrest implements strict risk management rules, such as daily loss limits and maximum drawdowns, to protect the firm’s capital. The company also emphasizes trading consistency over time.
3. Evaluation Process: FTMO vs. Fidelcrest
The evaluation process is a crucial aspect of both FTMO and Fidelcrest, as it determines whether traders can access firm capital. However, while both firms have similar two-step evaluations, there are key differences in their structure and rules.
FTMO Evaluation Process:
- FTMO Challenge: In this first phase, traders need to meet specific profit targets within a 30-day period while adhering to a daily loss limit (usually 5% of the account balance) and a maximum drawdown limit (typically 10% of the account balance). Traders must also trade a minimum number of days (usually 10 days) during the Challenge.
- Verification Phase: Once traders pass the FTMO Challenge, they enter the Verification phase. In this phase, traders need to meet the same profit target, but the rules are more lenient. Traders are given 60 days to complete the Verification phase, and they are allowed more flexibility in how they meet their targets.
- Profit Target: The profit target in the FTMO Challenge usually ranges between 10% and 20% of the account size, depending on the account size chosen by the trader.
Fidelcrest Evaluation Process:
- Fidelcrest Challenge: Similar to FTMO, the Fidelcrest Challenge requires traders to achieve a specific profit target within a defined period (usually 30 days). Traders must follow daily loss limits (often 5%) and a maximum drawdown limit (typically 10%). The key difference is that Fidelcrest also gives traders access to multiple evaluation programs (such as the Rapid Program or Standard Program), offering different rules and timeframes.
- Verification Phase: After completing the Challenge, traders proceed to the Verification phase. During this stage, traders must meet the same profit target as in the Challenge but under less stringent rules. Traders are given 60 days to pass the Verification phase, with the same daily loss and maximum drawdown rules applying.
- Profit Target: The profit target in Fidelcrest’s Challenge is generally set at around 10% of the initial account balance, which is comparable to FTMO’s requirements.
4. Profit Share and Payouts: FTMO vs. Fidelcrest
Both FTMO and Fidelcrest offer competitive profit-sharing models, but there are some nuances that could influence a trader’s choice.
FTMO Profit Share:
- Profit Share: FTMO offers a 90% profit split, which is one of the most competitive profit-sharing models in the industry. Traders who pass the evaluation can keep up to 90% of the profits they generate with the funded account.
- Scaling: FTMO provides scaling options for traders who demonstrate consistent performance. As traders continue to generate profits and adhere to risk management rules, they can scale their accounts to larger sizes, thus increasing their earning potential.
Fidelcrest Profit Share:
- Profit Share: Fidelcrest also offers up to 90% profit share, making it competitive with FTMO’s model. The profit share allows traders to keep the majority of the profits they generate from their funded accounts.
- Scaling: Fidelcrest allows traders to scale up their accounts, offering traders the opportunity to increase their account size based on consistent profitability and risk management. Fidelcrest also has a Rapid Program, which offers a quicker path to a funded account and more immediate scaling potential.
5. Risk Management: FTMO vs. Fidelcrest
Both FTMO and Fidelcrest enforce strict risk management rules, but each firm has its own approach to protecting both the trader and the firm’s capital.
FTMO Risk Management:
- Daily Loss Limit: FTMO enforces a daily loss limit of 5% of the account balance. This ensures that traders cannot take excessive risks in a single trading session.
- Maximum Drawdown: FTMO has a maximum drawdown rule, typically set at 10% of the account balance, limiting overall losses.
- Minimum Trading Days: FTMO requires traders to trade a minimum number of days during both the Challenge and Verification phases. This ensures that traders can prove their consistency over time.
Fidelcrest Risk Management:
- Daily Loss Limit: Fidelcrest has a similar daily loss limit of around 5% of the account balance, preventing traders from risking too much during a single day.
- Maximum Drawdown: The maximum drawdown rule is usually set at 10%, which is standard in the industry.
- Risk Flexibility: Fidelcrest is known for offering some flexibility in their risk management rules, particularly for traders in the Rapid Program, which can appeal to traders who prefer a slightly less rigid structure.
6. Conclusion: FTMO vs. Fidelcrest – Which is the Right Firm for You?
Both FTMO and Fidelcrest offer excellent opportunities for traders seeking to access firm capital, but they cater to slightly different types of traders. Here’s a summary of the factors to consider when choosing between the two firms:
- Choose FTMO if you are looking for a globally recognized prop firm with a solid reputation and a structured evaluation process. FTMO is ideal for traders who value a rigorous challenge and a well-established framework for profit-sharing and scaling opportunities.
- Choose Fidelcrest if you want more flexibility in your evaluation process and the potential to access multiple trading programs with different risk parameters. Fidelcrest is also a good option for traders who prefer the flexibility of the Rapid Program for faster scaling.
Both firms offer the same 90% profit share, and their risk management rules are largely similar, so your decision will largely depend on the specific evaluation structure, the type of markets you want to trade, and your preference for flexibility in the process.
Ultimately, both FTMO and Fidelcrest offer excellent opportunities for aspiring proprietary traders, but your success will depend on your ability to demonstrate consistent profitability and discipline in managing risk.
