CMC Markets opens CMC Funded, a simulated evaluation programme

What happened

CMC Funded, a simulated trading evaluation programme linked to the listed broker CMC Markets, opened to the public on 1 October 2026, according to Finance Magnates. The outlet reported on 28 September that CMC Markets had formally announced the programme.

Finance Magnates gave the following details:

• Every participant gets the same $100,000 simulated account, with set performance targets and risk limits.
• Traders who pass receive a Verified Trader badge and the chance of a job interview through Verichain, an AI-based recruitment platform and the programme’s first referral partner. Finance Magnates noted that this does not mean a job, and the employers who might interview candidates were not named.
• Performance rewards are based only on activity in the simulated environment.
• The instruments, all traded through one simulated account, include global markets and prediction market events.
• CMC Funded is not a regulated CMC Markets product. It does not open live brokerage accounts, hold client money or execute customer trades.

On 18 September, before the launch, Finance Magnates reviewed the programme’s legal terms. They name True North Tech L.L.C-FZ, based in Dubai, as the operator and the trader’s contractual counterparty for fees, accounts, rewards and refunds. True North Tech runs the programme under a marketing services agreement with CMC Markets Singapore, which the terms describe as the programme’s exclusive brokerage partner. According to the outlet, the terms state that the operator is not owned or controlled by any CMC entity, and that CMC Markets Singapore is neither the operator nor a guarantor.

On 6 October, Finance Magnates reported that CMC Funded uses Match-Trader as its platform. Benjamin Charbonneau, who heads CMC Funded, said the team had tested the platform against its requirements for security, performance and functionality. In comments reported on 28 September, he said the programme aims to find genuine trading talent rather than promise easy wealth.

What it means for traders

The CMC name will draw attention, but the contract matters more than the brand. According to the terms Finance Magnates reviewed, a trader’s agreement is with True North Tech, not with the regulated CMC broker. CMC’s regulatory status does not extend to the programme, so traders should read the operator’s terms the same way they would for any other evaluation seller. Our guide to prop firm red flags covers what to look for.

Two other points stand out:

• There is little to compare yet. With one account size and no published targets or drawdown limits, CMC Funded cannot be compared side by side with established firms. Once figures appear, the comparison tool and our methodology explain what we weigh.
• An interview is not a job offer. The recruitment route is unusual for a prop programme, but it depends on a third party and on employers who have not been named.

Most traders do not pass evaluations, and fees are usually not refunded.

What we do not know yet

• The evaluation price, profit target, drawdown limits and time period. Finance Magnates said these had not been disclosed.
• Which countries are eligible.
• How performance rewards are calculated and paid, and on what schedule.