CMC Markets today (Monday) formally announced CMC Funded, a simulated prop trading programme that will offer successful participants an “interview opportunity” via the recruitment platform Verichain.
The confirmation came after Finance Magnates reported that CMC is going to launch the prop platform on October 1. The programme draws on CMC Markets’ technology and market expertise but operates separately from the listed financial services group. The broker highlighted that the prop services are not a regulated CMC Markets product and do not provide live brokerage or funded trading accounts.
London’s trading industry is coming home!
Traders Receive $100,000 Simulated Accounts
Participants will receive a $100,000 simulated account with predetermined performance targets and risk limits. The account size, performance target and risk parameters will be the same for every participant.
The available instruments will cover a range of global markets, including prediction market events, through a single simulated account. CMC Funded has not disclosed the full instrument list, evaluation period or specific profit and drawdown thresholds in the latest announcement.
Traders who pass the evaluation will receive a Verified Trader badge. Any performance-based rewards will relate to activity in the simulated environment rather than profits generated through live market positions.
CMC Funded will not hold client money or execute customer trades. Participants will demonstrate their performance against simulated prices and predefined rules without managing capital belonging to CMC Markets.
“We are not selling dreams or promising an easy route to wealth. We are scouting for genuine trading talent,” said Benjamin Charbonneau, Managing Director and Head of the CMC Funded programme.
Verichain Becomes First Referral Partner
Verichain has been appointed as the programme’s first referral partner. The AI-based recruitment platform connects candidates with employers in financial services, trading and technology.
Passing the evaluation will provide an interview opportunity through Verichain, although neither employment nor placement with a trading company is guaranteed. The announcement does not identify the employers that may interview successful participants.
This links performance in the simulated evaluation to a potential recruitment interview, rather than access to a live account operated by CMC Markets.
“What makes CMC Funded different is that we are genuinely looking for successful traders,” Charbonneau added. “We are clear that every customer account remains simulated and that rewards are paid based on performance in that environment. In return, we gain valuable insight from traders who have demonstrated real consistency.”
The companies, however, have not disclosed the price of the evaluation, rules governing performance rewards, eligible jurisdictions or the commercial terms of the Verichain partnership.
This article was written by Tanya Chepkova at www.financemagnates.com.BrokersRead More
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