mpfunds
Asia Trending Wealthtech

Lowering the Entry Barriers to Asian Financial Market, MPFunds Launches Funded Trader Programme

Singapore-based funded trader programme, MPFunds officially launches in the Asian market. The new programme aims to lower the barriers to entry into financial markets. It offers trading capital of up to US$400,000 (approximately SG$533,000), as well as coaching, counselling, and courses for traders. 

Funded trader programmes, which are currently concentrated in the United States and Europe, are set up to allow traders to scale up with the firm’s trading capital. This trading capital allows traders to pursue greater trade opportunities. This is in addition to larger potential profit gains, with all profits split between the trader and the firm.

Dean Wong, CEO of MPFunds, shares the unique humanistic focus of MPFunds: “The current stock of programmes in the west mostly just offer the capital. They have limited support systems or learning tools in place for traders. Ultimately, this can put independent traders at a major disadvantage.

“As the first funded trader programme in Asia, we are not only offering traders a platform to accelerate their trading journeys, but also the resources to hone their skills. Notably with in-person courses and counselling to build an ecosystem that goes beyond the computer.”

The move to develop a funded trader programme in Asia seeks to leverage on Singapore’s status as the world’s third-largest Global FX Centre. The island nation has also seen a surge in interest among Singaporeans on entering the stock and financial markets. To meet this growing interest, MPFunds takes a strong focus on developing resources for both new and experienced traders.

Wong continues: “Our traders will have access to physical and virtual coaching. This is in addition to courses conducted by veterans in the industry. This is not something that is seen in funded trader programmes today. However, it is necessary to provide better support for traders, both fresh and seasoned.”

What traders can look forward to with MPFunds

Registered traders in MPFunds can undergo professional trading courses on fundamental and technical analysis. This is alongside economics courses from MPFunds’ chief economist Dr Tan Kee Wee, which have a special emphasis on capital markets and the investment industry.

A seasoned economist, Dr Tan draws from his rich, decades-long experience working in the financial sector. Notably in Standard Chartered Bank, Oversea-Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB), to advise traders and help them maximise profits.

At the same time, the programme incorporates a psychological support arm provided by SACAC Counselling. It offers support to help traders navigate the emotional aspect of trading. SACAC Counselling is a comprehensive mental health practice in Singapore. It specialises in numerous forms of counselling and psychotherapy.

“Traders can start as young as 18 years old with MPFunds, there is virtually little to no barrier. There’s no set-up capital that they need to pay – only a registration fee. This is refundable upon passing our evaluation challenges. Upon passing both challenges, the trader will be able to unlock up to US$400,000 of trading capital, which is about half a million Singapore dollars, and begin trading with the prospect of greater returns,” adds Wong.

How to get started with MPFunds

To begin, traders will have to submit a one-time application fee. They must participate in the programme’s trading challenges to evaluate their skills as a trader. The two-phased evaluation will grant traders access to demo accounts, with traders being tasked to manage the account over varying periods of time, meeting set profit targets and managing trading losses.

For traders requiring more preparation before attempting the challenges, MPFunds also offers free professional courses and coaching for traders in Tiers 4 and 5 of their programme.

MPFunds Challenge Phase 1
PeriodFirst 30 days
Profit Target8%
Minimum Trading Days5 out of 30 days
Maximum Daily Loss5%
Maximum Overall Loss10%
MPFunds Challenge Phase 2
PeriodFirst 60 days
Profit Target4%
Minimum Trading Days5 out of 60 days
Maximum Daily Loss5%
Maximum Overall Loss10%

Upon passing both phases of the evaluation challenge, traders will receive a full refund of the registration fee upon the 1st week of profit, and can begin trading with their funded capital. Accounts can amount to a maximum of US$400,000, with all accounts having a maximum of ten percent loss window.

The programme offers traders a fast, seven-day pay-out cycle, at the end of which 80 per cent of profits are receivable by the trader, and can potentially be scaled up through better trading performance.

With their goals set on expanding into more countries, including Malaysia, Thailand, and Vietnam in Q3 2023, MPFunds is spearheading the evolution of funded trading in the region.

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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