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  • #13,561
  • Jan 24, 2023 2:18am Jan 24, 2023 2:18am
Quoting youngD
I passed last night evertrader phase 1. After you finish you click button and after that account is under review before u start phase 2. Will update how it goes. {image} {image}
Well if you get your refund without any problems then we know these guys may be legit
  • #13,562
  • Jan 24, 2023 2:37am Jan 24, 2023 2:37am
Anyone got a deep look into challenges from Fidelcrest ?
https://fidelcrest.com/trading-programs

I was reading the 6.2 section of the rules and they seem to have rid of all those complicated rules they had in the past regarding consistency and so.

I think the main catch, if I understood well, is the trailing stop. Usually this is bad but it may still worth because they have either a bonus in first payout or a scale plan.

I'm going to analyze this deeper but if someone has already opinion about it would be nice to hear, specially, of course, if they pay and/or if they use to invent excuses not to pay.
  • #13,563
  • Jan 24, 2023 3:23am Jan 24, 2023 3:23am
Quoting Capablanca
I think the main catch, if I understood well, is the trailing stop.
-I think that the main catch is that you are required to flip an account 3 times. Most people cannot do that consecutively. Maybe it is a typo, but if you look closely, the verification phases have profits targets that are 2X the maximum draw-down allowance.

If you are good at completing challenges and are looking for bigger draw-down allowance, then maybe it is worth it. 500K aggressive offers 50K daily and 100K max draw-down for about $2,900, along with an ambiguously-worded signup bonus that is based on performance.

Their 'Double Your Capital' bonus is deceiving. It is really 'a free challenge + verification upon successful completion of a paid challenge + verification'. I brought this to their attention and was told that they would reword their website, but they never did.

The signup bonus is worded as 'based on your performance' and 'commission up to 50% of reached profit target', which is not clear. It also seems excessively risky for the firm. But maybe the odds are enough in their favor. Would be curious if anyone has passed their challenge/verification and received a commission payout.
  • #13,564
  • Jan 24, 2023 3:26am Jan 24, 2023 3:26am
Announcement from Finotive in their FB page:

Traders no longer have to pay back previous funded account losses!
Since the introduction of our Responsible Trading Policy last summer we have seen a drastic reduction in the amount of funded traders failing accounts. This now gives us a lot more confidence that our funded traders have a solid understanding of risk management, thus reducing the risk of gamblers or all-or-nothing behaviour which would previously result in funded accounts being lost extremely quickly.
If you have previously lost a funded account, you will now have no profit split reductions or scaling prohibition!

I need to revisit them because I had good experience with their (only) payout.
They had some annoying rules which required one to be careful (not sure if they still have), but I can bear with that.
  • #13,565
  • Jan 24, 2023 3:33am Jan 24, 2023 3:33am
Quoting Capablanca
Announcement from Finotive in their FB page: Traders no longer have to pay back previous funded account losses! Since the introduction of our Responsible Trading Policy last summer we have seen a drastic reduction in the amount of funded traders failing accounts. This now gives us a lot more confidence that our funded traders have a solid understanding of risk management, thus reducing the risk of gamblers or all-or-nothing behaviour which would previously result in funded accounts being lost extremely quickly. If you have previously lost a funded...
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  • #13,566
  • Jan 24, 2023 3:41am Jan 24, 2023 3:41am
Quoting MwlRCT
{quote} = {image}= {image}
this is amazing, go for it before they flip it back to the old rules.
  • #13,567
  • Jan 24, 2023 3:43am Jan 24, 2023 3:43am
Quoting Nsak3y
{quote}-I think that the main catch is that you are required to flip an account 3 times. Most people cannot do that consecutively. Maybe it is a typo, but if you look closely, the verification phases have profits targets that are 2X the maximum draw-down allowance. If you are good at completing challenges and are looking for bigger draw-down allowance, then maybe it is worth it. 500K aggressive offers 50K daily and 100K max draw-down for about $2,900, along with an ambiguously-worded signup bonus that is based on performance. Their 'Double Your...
Damit, I'm so used to 5% target / 10% loss (or so) in phase 2 that I have not notice that big elephant in front of my eyes. I just read the inverse of what's there.
Thanks for pointing that huge detail out.

For the Bonus they say this:
Quote
You can choose one of available bonus options to customize your trading challenge:
(A) Double your Capital:
Second account for free after you have made profit in phase 3 (Max capital per trader 1M. Not available when purchasing 1M account)
(B) Second Chance For Free:
Second account for free if you fail your first Challenge phase (for all account sizes and types)

What you're saying is that "double your capital" is simply providing you with another challenge ?
What about (B) ? If I fail the challenge do I get a second free try, even if I'm in loss ? (this can be interesting)
Or is this the usual free retakes that most of firms offer if we end up above initial balance ?

Where do you see the "signup bonus is worded as 'based on your performance' ? I was around the site again and could not find that.

Do you agree that this is a trailing max loss ?
Quote
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.
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.
  • #13,568
  • Jan 24, 2023 4:18am Jan 24, 2023 4:18am
Quoting Capablanca
Announcement from Finotive in their FB page: Traders no longer have to pay back previous funded account losses! Since the introduction of our Responsible Trading Policy last summer we have seen a drastic reduction in the amount of funded traders failing accounts. This now gives us a lot more confidence that our funded traders have a solid understanding of risk management, thus reducing the risk of gamblers or all-or-nothing behaviour which would previously result in funded accounts being lost extremely quickly. If you have previously lost a funded...
To me this sounds like an "oh fuck, nobody is buying challenges from us" desperation rather than anything else.
  • #13,569
  • Jan 24, 2023 4:29am Jan 24, 2023 4:29am
Quoting noox
{quote} To me this sounds like an "oh fuck, nobody is buying challenges from us" desperation rather than anything else.

Yes it was quite interesting - they say EA is allowed no problem but they don't offer MT4 platform!

I know one can copy trade from MT4 to MT5 but that is fraught with danger plus it's a pain in the neck having two different platforms and numerous charts open at the same time
  • #13,570
  • Jan 24, 2023 4:35am Jan 24, 2023 4:35am
It was a while since I left Finotive. I was revisiting them and found that now they also have a one step challenge.
Usually these "one step" are pretty bad but this one is not that bad. Of course it's worse than 2 steps but it's not catastrophically worse.

For 200K account:

2 steps Challenge price - $950
Phase 1: target 7.5%, Max loss 10%
Phase 2: target 5%, Max loss 10%
Funded: Max loss 10%
(daily loss 5%)

1 step Challenge price - $1140
Phase 1: target 10%, Max loss 7.5%
Funded: Max loss 7.5%
(daily loss 4%)

They still have the responsible trading rules:

Responsible Trading Policy Applies.
All traders are obliged to follow our Responsible Trading Policy. We do not condone gambling, or high-risk “all-or-nothing” behaviour. We do not reward traders who have generated profits through irresponsible trading practices such as:
- Risking 100% or more of drawdown limits in open trades of any instrument.
- Risking 50% or more of drawdown limits on individual trades or across open trades of the same instrument.
- Trading with no stop loss.
The full Responsible Trading Policy can be found in Section 7 of our Terms and Conditions.
  • #13,571
  • Jan 24, 2023 5:13am Jan 24, 2023 5:13am
Quoting Capablanca
"double your capital" is simply providing you with another challenge ?
-Yes.

Quoting Capablanca
What about (B) ? If I fail the challenge do I get a second free try, even if I'm in loss ?
-As I understand it, yes. However, this only applies to the phase-1 challenge, not the phase-2 verification. Also, you must select this option before you begin the challenge, if I recall correctly. These guys are really sneaky, so watch out.

Quoting Capablanca
Where do you see the "signup bonus is worded as 'based on your performance' ?
-Q&A page here, last question on the list.

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Quoting Capablanca
Do you agree that this is a trailing max loss ?
-Yes.
  • #13,572
  • Jan 24, 2023 5:39am Jan 24, 2023 5:39am
Quoting youngD
I passed last night evertrader phase 1. After you finish you click button and after that account is under review before u start phase 2. Will update how it goes. My account has been reviewed early Europe session so I started phase 2. Return should be processed within 48hrs.will update {image} {image}
Well done. I like that they automatically advance the next phase like most others. It’s puzzling to me that TFT still makes one wait 24hrs to advance to next phase. Then wait some more to get live account. Then wait even more for payouts.
Trade with confidence, trade without fear.
  • #13,573
  • Jan 24, 2023 7:22am Jan 24, 2023 7:22am
For MFF funded account, if I submit a cashout request, and the account has been reset, but they did not send out my cashout yet, then I trade the account and make some loss, will that affect my cashout?
The problem is, it is like 5 hours now from account reset, and they did not send my withdrawal yet, I just can't wait any more and made some losing trades.
  • #13,574
  • Jan 24, 2023 7:26am Jan 24, 2023 7:26am
Quoting Cryptosurf
{quote} Well done. I like that they automatically advance the next phase like most others. It’s puzzling to me that TFT still makes one wait 24hrs to advance to next phase. Then wait some more to get live account. Then wait even more for payouts.

Mmmm yes in my view, the smoother the ride the better the company.

By the way, I just saw there is a 5% discount available for Evertrader evaluations which I never noticed until after I purchased that blown account

𝟓% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐜𝐨𝐝𝐞: CRILEX5
  • #13,575
  • Jan 24, 2023 7:41am Jan 24, 2023 7:41am
Quoting wmwmw
For MFF funded account, if I submit a cashout request, and the account has been reset, but they did not send out my cashout yet, then I trade the account and make some loss, will that affect my cashout? The problem is, it is like 5 hours now from account reset, and they did not send my withdrawal yet, I just can't wait any more and made some losing trades.
it wont affect your payout.
  • #13,576
  • Jan 24, 2023 7:42am Jan 24, 2023 7:42am
Quoting Cryptosurf
{quote} Well done. I like that they automatically advance the next phase like most others. It’s puzzling to me that TFT still makes one wait 24hrs to advance to next phase. Then wait some more to get live account. Then wait even more for payouts.
Its to increase banning the 24 hrs thing.
  • #13,577
  • Jan 24, 2023 7:49am Jan 24, 2023 7:49am
Quoting Nsak3y
-Q&A page here, last question on the list. {image} {quote}-Yes.
Thanks. Didn't see that section.

I think they say up to 50% signup bonus based on verification profit target because that % depends on the challenge purchased.

In this table we can see how much is the signup for each one.
https://fidelcrest.com/profit-splits

For example 25K aggressive has a profit target of 15% (3.750) and signup bonus is 1875 (50%)

However 250K normal has a target of 10% (25K) and signup bonus is 5K (20%)

What surprises me is that they mention, in the same page, this:
"Fidelcrest is the Only Prop Firm in the industry that pays traders upon successful completion of the verification phase."

If this is true one doesn't even have to achieve a payout to receive 5x the fee (fee for 250K normal is $999). Seems too good.
  • #13,578
  • Jan 24, 2023 8:18am Jan 24, 2023 8:18am
Quoting Capablanca
Anyone got a deep look into challenges from Fidelcrest ? https://fidelcrest.com/trading-programs I was reading the 6.2 section of the rules and they seem to have rid of all those complicated rules they had in the past regarding consistency and so. I think the main catch, if I understood well, is the trailing stop. Usually this is bad but it may still worth because they have either a bonus in first payout or a scale plan. I'm going to analyze this deeper but if someone has...
we had many bad review against them, and we decided just to don't look to them...

perhaps they was only offering MT4 and not MT5 that for some is not so good.
in holiday till end of November
  • #13,579
  • Jan 24, 2023 8:32am Jan 24, 2023 8:32am
Quoting Takisd
{quote} it wont affect your payout.
Thanks.
  • #13,580
  • Jan 24, 2023 8:55am Jan 24, 2023 8:55am
Quoting Capablanca
I think they say up to 50% signup bonus based on verification profit target because that % depends on the challenge purchased.
-Maybe. They also say 'based on your performance', which is not clearly defined. For all we know, they could have a review team in place that determines what you qualify for, based on what their idea of good trading should look like. I certainly would not assume anything with this firm. Better to ask.

Quoting Capablanca
If this is true one doesn't even have to achieve a payout to receive 5x the fee (fee for 250K normal is $999). Seems too good.
-Maybe. The wording on the website may indicate that signup commissions may be paid out with first profit split. I do not see any mention of whether or not the bonus could be voided if the account violates draw-down during that time.

Objectively speaking, the offer may be good, depending on the person, but this firm seems to be doing a lot of sneaky stuff as if they are trying to trick traders. I also do not know of anyone that is trading with them. Anyone considering working with this firm should do their due diligence and investigate any reviews that may be available, at the very least.
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