CMC Funded gives participants two ways to purchase a simulated trading evaluation, with the choice determining the fee, profit targets and room for losses. Classic has two phases and wider loss limits; Direct has one phase, tighter limits and a higher fee. Both lead to the same simulated reward stage.[2][3]
CMC Markets announced the technology and expertise partnership on 28 September alongside a separate recruitment pathway through Verichain. The legal operator of CMC Funded is True North Tech L.L.C-FZ in Dubai. The programme says it is not owned by CMC Markets and sits outside the group’s regulated brokerage products: it opens no live brokerage account, holds no client money and executes no customer trades or investment arrangements. CMC Markets does not hold participant funds or guarantee rewards.[1][4][5]
Classic and Direct compared
| Rule | Classic | Direct |
|---|---|---|
| Evaluation phases | 2 | 1Source 2Source 3 |
| Profit target | 8%, then 5% | 10%Source 2Source 3 |
| Daily loss limit | 5% of start-of-day equity | 4% of start-of-day equitySource 2Source 3 |
| Maximum loss | 10%, fixed floor | 6%, fixed floorSource 2Source 3 |
| Minimum trading days | 3 per phase | 3Source 2Source 3 |
| Base reward split | 80% | 80%Source 2Source 3 |
| Starting fee | $99 | $149Source 2Source 3 |
Loss limits are measured on equity rather than closed balance alone. An open losing position therefore counts immediately. Touching either limit fails the challenge without a grace period. The maximum-loss floor is fixed from the starting balance, while the daily limit is recalculated from equity at the start of each day.[2][3]
A $25,000 example shows the trade-off
$25,000 challenge example
| Measure | Classic | Direct |
|---|---|---|
| One-time fee | $199 | $249Source 2 |
| Target | $2,000 then $1,250 | $2,500Source 2 |
| First-day daily loss limit | $1,250 | $1,000Source 2 |
| Fixed maximum loss | $2,500 | $1,500Source 2 |
| Account floor | $22,500 | $23,500Source 2 |
For the $25,000 challenge, the $50 extra paid for Direct buys a one-phase evaluation. In exchange, the fixed loss allowance falls from $2,500 to $1,500 and the first-day daily allowance falls from $1,250 to $1,000. These are separate constraints: a position can breach the daily rule even while equity remains above the fixed account floor.[2]
Neither route has a base time limit. News trading and overnight or weekend holding are allowed, but the simulated trades still carry commission on opening and closing, price markups on some symbols and holding costs. Leverage can be selected from 1:10 to 1:500 at the same challenge price; higher leverage does not expand the daily or maximum loss limit.[2]
The fee is a one-time purchase with no subscription. Checkout provisions a Match-Trader account available in a browser on desktop or mobile, and the selected rules and add-ons are fixed at purchase. The participant’s direct financial exposure is the fee paid; rewards depend on simulated performance, eligibility, verification and the programme terms.[2][5]
How the Verichain recruitment route works
The partnership uses a fixed $100,000 simulated account with preset targets and risk parameters, covering global simulated markets including prediction-market events. Passing earns a Verified Trader badge and an interview opportunity through Verichain. That is a defined recruitment step; employment or placement depends on the subsequent hiring process.[1]
Sources & further reading
- CMC Markets announces strategic partnership unveiling CMC Funded CMC Markets plc · 28 Sep 2026 · Accessed 16 Oct 2026
- Trading challenges: Classic and Direct CMC Funded · Accessed 16 Oct 2026
- Classic or Direct: how the two routes differ CMC Funded · 1 Oct 2026 · Accessed 16 Oct 2026
- About CMC Funded and its legal separation from CMC Markets CMC Funded · Accessed 16 Oct 2026
- CMC Funded support and legal operator information CMC Funded · Accessed 16 Oct 2026