Fidelcrest review: the only CySEC-regulated prop firm?

What Fidelcrest is and why its regulatory status matters

Fidelcrest is a funded trader programme operated by Fidelcrest Ltd, a Cyprus-registered and CySEC-regulated entity. This regulatory status is not cosmetic — it is the single most important differentiator in the retail prop space. Most funded trader programmes operate outside CySEC, FCA, and ASIC regulation. Fidelcrest does not.

What CySEC regulation means in practice: Fidelcrest must maintain segregated client funds, submits to annual auditing and financial reporting requirements, and there is a complaint resolution pathway through CySEC if you have a payout dispute. If Fidelcrest fails to pay you after you pass their challenge, you have a regulatory recourse path that does not exist at most competitors.

What it does not mean: CySEC regulation does not guarantee Fidelcrest will never fail or that you will receive a payout if they do fail. It does not mean their rules are fairer or their profit targets easier than unregulated competitors. It does not mean you have deposit insurance or guaranteed recovery. But if a dispute arises, you have an escalation channel. At FTMO (operationally solid but unregulated), you do not. For traders who value governance over pure trading conditions, this is a legitimate and material reason to consider Fidelcrest.

Challenge structure: Normal versus Aggressive modes

Fidelcrest offers two distinct challenge modes, each with the same two-phase structure but different time pressure and drawdown parameters.

Normal Mode has a longer runway and lower daily risk. It is suited to methodical traders and those with limited active trading time per week. The daily drawdown allowance is more conservative, giving you more room to recover from a poor session without breaching the account.

Aggressive Mode compresses the timeline and raises the daily drawdown allowance — to compensate for the tighter timeframe. It suits active traders comfortable with higher-frequency decision-making. The profit targets across phases are the same as Normal mode, so the distinction is not about how much you need to make but about how quickly you must make it and how much daily risk you are given.

Both modes use a two-phase evaluation before any funded account is issued. Phase 1 sets a higher profit target; Phase 2 sets a lower target under the same drawdown constraints. Passing both phases leads to an indefinite funded account with no separate profit target — only the ongoing drawdown rules apply.

• Verify current Phase 1 and Phase 2 profit targets for both modes at fidelcrest.com — these are not fixed and we do not publish unverified specifics
• Confirm whether the Normal or Aggressive mode's daily drawdown is calculated on closed P&L only or on real-time equity including open positions
• Check whether a minimum trading days requirement applies per phase in each mode
• Confirm the time window per phase (calendar days) for the mode you are evaluating

Trailing maximum drawdown: the rule that trips experienced traders

Both Normal and Aggressive modes use a trailing maximum drawdown rule. This is the rule that catches experienced traders off guard — it does not behave like a fixed floor from your starting balance.

A trailing maximum drawdown rises with your equity gains. If you start at $100,000 and the max drawdown is 10%, your floor starts at $90,000. But if you trade profitably and grow your account to $110,000, the floor rises to $99,000 (10% below the new peak). Now if you give back $10,500 from that high, you are at $99,500 — above your starting point in absolute terms, but in breach of the trailing drawdown rule.

This catches swing traders particularly badly: you run up a strong first week, your floor rises with every new high, and then a normal mean-reversion draw takes you below the new floor even though you have never been significantly down from starting capital. Before paying a Fidelcrest challenge fee, confirm the exact definition in their current T&Cs: does the trailing drawdown trail on closed P&L only, or on peak equity including open positions? The latter is materially harder.

CySEC regulation verified: how to confirm Fidelcrest's status

Do not take Fidelcrest's own marketing as proof of CySEC regulation — verify it independently. The CySEC entity database is publicly searchable at cysec.gov.cy. Search for 'Fidelcrest Ltd' and confirm the regulated entity name, licence number, and authorisation scope match what appears on fidelcrest.com. If the entities do not match, or if the licence has been suspended or withdrawn, treat that as a disqualifying signal.

CySEC regulation also implies annual auditing. Fidelcrest's financial statements should be filed with the Cyprus Registrar of Companies and available to the public. Reviewing these does not tell you whether the company is profitable, but it does tell you whether the entity is substantive.

Profit splits, payout frequency, and what to confirm before paying

Fidelcrest offers profit splits that increase with demonstrated consistency on the funded account — verify the current entry-level and scaling-tier splits at fidelcrest.com. The funded-trading category has standardised around 80–90% trader splits at entry; anything materially below 80% warrants comparison against alternatives before committing.

Payout frequency matters for cash flow planning. Confirm whether Fidelcrest pays monthly, bi-weekly, or on-demand after hitting a profit threshold. Also confirm whether your challenge fee is refunded on your first profitable payout — most reputable firms do this, and if not, you are effectively paying a recurring subscription fee for the privilege of trading funded capital.

Aggregate funded capital cap: check whether Fidelcrest limits total capitalisation per trader across multiple accounts. Some traders scale by running multiple accounts simultaneously; if Fidelcrest caps the total, a scale-up programme (where your account size increases based on performance milestones) may be the only path to higher capitalisation.

News trading, weekend holding, and other rule clauses to read first

Search the current Fidelcrest T&Cs for 'news', 'economic calendar', and 'high impact events' before paying. If the firm bans opening or holding positions within a defined window before or after high-impact releases (NFP, CPI, FOMC, ECB rate decisions), and your edge depends on news volatility, you have a fundamental incompatibility. Do not sign up and attempt to work around the restriction — it will be enforced, and you will be disqualified at the worst moment.

Check weekend holding policy against your timeframes. For swing and carry traders, a requirement to close all positions before Friday session end is a dealbreaker.

Document the exact wording of all key clauses. Screenshot the T&Cs page on the day you pay the fee. If you dispute a disqualification later, your timestamped documentation is your only evidence.

• Verify CySEC registration at cysec.gov.cy — do not rely on the firm's own marketing for regulatory claims
• Confirm trailing drawdown definition: does it trail on closed P&L or peak equity including open positions?
• Confirm news trading policy: entry ban only, or also a holding ban?
• Confirm weekend holding policy
• Confirm challenge fee refund on first profitable payout
• Screenshot T&Cs on the day you pay — not the day before, not later

Fidelcrest versus FTMO: an honest head-to-head

FTMO is the operational benchmark in the funded-trading category — over 10 years of documented payout history, no major regulatory action, and the firm that most experienced traders point to when asked where to start. FTMO is not CySEC-regulated; it operates in a Czech legal framework that the Czech National Bank has reviewed and found does not require a securities dealing licence.

Fidelcrest's CySEC regulation is a genuine and material advantage over FTMO on governance: if you have a payout dispute with Fidelcrest, you have a regulatory escalation path. If you have a dispute with FTMO, you do not — you have FTMO's own dispute resolution process and, ultimately, civil courts. For traders who prioritise governance and complaint escalation, Fidelcrest's regulatory frame is stronger. For traders who prioritise the longest operational track record, FTMO wins. Both are legitimate choices — choose on the basis of your risk tolerance and what you value in a counterparty.

Sources & further reading

• Fidelcrest — official site
• CySEC — regulated entity database
• CFTC — Traders Global Group (MyForexFunds) enforcement action, August 2023