Asia’s First Funded Trader Programme, MPFunds, Launches In Singapore
Singapore, 4 May 2023 — Singapore-based Funded Trader Programme, MPFunds officially launches in the Asian market, making it the region’s first and leading programme of its kind to empower traders around the world. The new programme aims to lower the barriers to entry into financial markets, offering 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 and 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, with limited support systems or learning tools in place for traders, which 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 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.
Dean continues. “Our traders will have access to physical and virtual coaching and courses conducted by veterans in the industry. This is not something that is seen in Funded Trader Programmes today, but 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, 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 — 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 Annabelle Psychology, who offers support to help traders navigate the emotional aspect of trading. Annabelle Psychology is a comprehensive mental health practice in Singapore, specialising 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, which 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 Dean.
How To Get Started With MPFunds
To begin, traders will have to submit a one-time application fee, and 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.
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 percent 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.View Other Articles