Everyone knows that it is important for traders to have an edge when it comes to trading. However, when taking on a challenge to obtain significate funds from a prop firm, your edge is not always enough. Due to the strict but fair rules that prop firms place on traders to mitigate their risk, some traders have a hard time passing the classic two-phase challenge even with a great edge.
This is where we, Traders With Edge (TWE), come into play. We offer traders many different account types and even the ability to customize these accounts to better fit the trader’s strategy giving traders the extra help they need to get funded and become profitable.
In this article, we will compare TWE, with Fidelcrest (FC). We will go over the different accounts, and account options and compare the different approaches to help their trades.
What we will cover in this article:
- Who is Fidelcrest and what challenges do they offer?
- Who is Traders With Edge and what do they offer?
- Challenge Breakdown
- How do the firms help you use your edge?
- Not a trader? Not a problem.
Who is Fidlecrest and how does it work?
Before we get into the nitty-gritty of the article, let’s first introduce Fidelcrest. FC is a prop firm that was started in 2018 to help both traders and investors alike earn steady profit growth over long periods.
FC currently offers two account types to traders, a standard and an aggressive account. The aggressive account is geared more toward traders with higher risk tolerances, offering larger capital while the standard account is better for those who want to play it safe. Traders trade on a demo account for the duration of the challenge, following strict trading rules, to reach the challenge’s profit target, before moving on to a funded account.
Who are Traders With Edge and how does it work?
Traders With Edge is a prop firm that was founded in early 2022, making us a relatively new but refreshing face in the industry. We were founded by an experienced team who understand that one shoe does not fit all.
As such, we offer traders the opportunity to pick and choose from many different account types, giving traders the ability to find and customize an account to best fits their trading style.
Fidelcrest Trading Challenge:
FC offers their traders two different types of trading challenges: the Micro Trader Account and the Pro Trader Account both with a normal and aggressive version. Traders are required to trade for at least 10 trading days in each phase on both challenges for the normal and 5 trading days for the aggressive. Both accounts offer leverage trading up to 1:100 for traders and traders can manage capital up to $2 Million.
Pro Trader account
The Pro Trader Account types consist of starting capitals between $150K and $1 Million. These accounts have higher profit targets when compared to the Micro Trader Accounts as FC allows traders to trade with more risk.
Micro Trader Account
The Micro Trader Account types are the smaller of the Fidelcrest trading challenge and consist of starting capitals between $10K and $50K. As these accounts allow less risk when compared to the Pro Trader accounts, the profit target is only 5% (15%) for both accounts.
Traders With Edge Challenge :
We offer our traders 3 different funded trader programs. Traders are required to hit a target profit within the required trading period and must trade for as little as 5 minimum trading days. Traders can get funded up to $3 Million on the Hare and Turtle Challenge and $1.28 Million on the Instant Funding accounts.
Unlike Fidelcrest, who only allows traders to use EAs if using eas and trading profits is beneficial to Fidelcrest, traders can use EAs and trading robots for both the Hare and Turtle challenge but not for the Instant Funding accounts. Currently, Traders With Edge is the only prop trading firm that offers such a wide range of products for its traders.
Our Hare Challenge is the basic two-phase trading challenge that is offered by other prop firms. However, unlike many other firms, we allow traders to take their time to hit their targets, allowing them to trade for up to 60 days during the first phase. If you need more time, there is a solution for that as well but we will get to that below.
Our Turtle Challenge is a game-changing, simple, one-phase trading challenge. Traders are only required to hit one profit target before becoming a funded trader. Although the drawdown may seem a little tight, traders have 365 days to hit the minimum profit target so this shouldn’t be a problem. This challenge is ideal for traders who have great risk management skills.
Finally, we also offer Instant funding to traders who are sick of taking challenges to earn funding.
Although traders only receive a 50% profit split and can rapidly scale their account size by hitting the profit targets of each level. Traders are offered a 4x scale on their first scale and then a 2x scale until they reach $1.28 Million in funding.
After the initial level, there is no time limit on how fast traders need to make a profit. However, as traders are funded from day 1, traders are expected to show proper risk management skills.
Account Cost Comparison
Who offers the Cheapest Normal and Aggressive accounts?
Fidelcrest account fees range between $102 USD for their $10K Micro Trader Challenge and $2995 USD for their $1 Million Pro Trader challenge. Our account fees range between $69 USD for their $5K Hare Challenge and $550 USD for their $100K Hare challenge. However, our cheapest account is actually our 5K Turtle account which costs $55 USD.
We also offer discounts so come and chat with our customer support team through our live chat to get yourself a quick 10% discount.
50K challenge comparison:
Although the rules are quite different, for a more direct comparison, we can also compare the price of the Micro Trader $50K challenge to our 50K Hare challenge. The 50K Micro Trader challenge is $464 USD while our $50K Hare challenge costs $330 USD.
Profit Split Comparison
Once you have passed the challenges, you will start earning a profit split on your profits from your live account. The Fidelcrest standard accounts offer traders an 80% profit share on their profits while the aggressive accounts offer a 90% profit split. We offer our traders 80% on all of our challenge accounts, and a 50% profit share on their Instant funding accounts.
Although the 90% split looks appealing, let’s take a closer look at what each firm offers its traders for a better comparison.
What the firms offer you
On paper, all of the prop firms out there, including us and Fidelcrest look the same and it is because they are. Prop firms are a business and without the proper risk management to limit the trader’s downside in some way, they would all go out of business which wouldn’t be great for all the live traders that they have. So what splits these firms apart? The main difference lies in the funding options that each firm provides.
Each firm has a different approach but we will just cover what we offer and what FC offers.
Fidelcrest offers traders a “Bonus” upon purchasing a challenge. Traders can pick one option from the following to help them with their accounts.
These Bonuses include:
- Double Your Capital – Allows traders to get a second account of the same size once they have made a profit and received a payout on their funded account
- Second Chance For Free – Allows trader a second account if they fail on the first Challenge phase
- Fast Track – Remove the minimum trading days requirements for the Micro Trader Aggressive accounts (Phase 1) only
The Edge of Traders With Edge
We have introduced customizations on all of our accounts to truly help traders become funded traders. As these customizations introduce risk, they are purchasable add-ons rather than a free bonus however, we see them as invaluable tools for our trades to truly use their edge while trading with us.
- Increase max drawdown by 50% of the max drawdown value
- Remove the daily max drawdown
- Double leverage
- Hold trades over the weekend
- Change trailing max drawdown to a static max drawdown
- Remove required stop loss
- Increase profit share by 10% + the profit share value
With a combination of Instant Funding and customizations, we offer some of the highest profit-sharing schemes in the industry.
We allow our traders to trade strategies that they would not normally be able to due to the rules placed by prop firms. Traders that have not been able to use swing trading strategies for the two-phase challenges are now able to with our Hare challenge as they would be able to hold trades over weekends and have a larger drawdown to work with.
As you may know, we at TWE pride ourselves on our excellent customer service. We know that trading is not always the frustrating aspect of trading, funnily enough. We understand that trading at funded trader account providers can be frustrating especially when you run into technical difficulties, or are not sure how you have broken the trader agreement.
As such, we at TWE try our best to answer all questions and listen to all feedback. You can see this in the evolution of our challenges to better fit the trader’s needs. Fidelcrest also does a great job at offering customer support through their live chat feature on their website. You can also find several different FAQs and guides on their websites for all their account types.
Not a Trader? Not a Problem!
Our affiliate program pays out up to 20% on challenges and in the future, will pay out 30% on purchased courses when they become available for our community. If your referred trader purchases an account, you are credited for the lifetime of the trader. This means that if they decided to purchase an account in 5 years, you will still receive your commissions for that purchase.
The Fieldcrest affiliate commission rate pays up to 15% and offers a $5,000 bonus for reaching the next level.
Both TWE and Fidelcrest prop firms offer great account types for their traders, including forex traders, to take advantage of. As mentioned, most prominent trading prop firms in the industry offer similar challenges but that can’t be helped. What separates the good from great is how the firms react to their trader’s feedback and what they offer to help their traders get the most out of their edge.