What is The Funded Trader and how does it work?
The WeMasterTrade is a program of WeCopyTrade at WeCopy Fintech Inc. and is organized under BC law and has been providing evaluation services to traders since 2021. The WMT offers Customers the opportunity to have their trading evaluated in selected markets on a simulated basis through demo accounts and shares the results of such evaluations with a partnered proprietary trading firm. Qualified Customers receive remuneration for the data that they provide to the proprietary firm, calculated based on net gain, if any, achieved by Customers from their simulated trading in demo accounts. This is our business model and how we are able to offer what we consider to be an exciting product and service to our passionate community.
How does WMT conduct business?
We are open about WMT’s principles to be honest, transparent, and support the trading community. We take what we regard as our responsibility to that community seriously. We believe based on our compliance initiative and efforts that our legal structure and overall strategy have and will continue to remain sound.
What proactive steps is WMT taking to ensure they will have continuity into the future?
We are proactively monitoring the industry, attempting to identify trends, operate in a fully compliant manner and striving to evolve and remain as dynamic as the industry itself.
Some of the things we are doing to continue remaining viable in the industry are as follows:
Refinement of our existing Compliance processes
Continuous assessment of internal and external risks/opportunities and how we can proactively mitigate them
Continuous product innovation in a responsible manner
Continuing to staff and engage with subject matter experts in various business domains such as Finance, Risk, Compliance, Legal, Operations, Technology and the list goes on
We are excited to continue evolving with the industry. Our commitment to regulatory compliance and ethical conduct, in addition to innovation, remains at the core of our business.
Is WMT regulated?
As a CA-based company, WeMasterTrade is a program of WeCopyTrade at WeCopy Fintech Inc. and is organized under BC law and provides evaluation services to its Customers. The Funded Trader offers Customers the opportunity to trade selected markets on a simulated basis in demo accounts for evaluation purposes only and is not a broker or financial institution. With this being the case, WMT is not registered with any C.A. regulatory body.
WMT only provide services of simulated trading in demo account and educational tools for traders and never directly passes any orders to the market. We do not accept any deposits from clients as part of our services nor do we provide any investment advice or recommendations.
In addition, WMT does not provide ur clients with trading recommendations of any kind nor investment services listed in "The Law on Capital Market" and therefore does not fall under the supervision of any regulation. We also are not a rated broker business or a money manager that would require us to fall under the regulatory framework
Are my funds safe with the WMT?
The WMT program offers Customers the opportunity to have their trading evaluated in selected markets on a simulated basis in demo accounts and is not a broker or financial institution. As such, WMT only offer Demo accounts with Virtual Fund and do not take your fund or manage investment decision on the client's fund therefore you do not not need to worry about your fund.
What is WMT doing to safeguard payouts?
Payouts to Customers whose trading on a simulated basis produces net gain, and complies with the requirements and conditions established by our proprietary trading partner, are tracked and monitored by a finance team dedicated to forecasting liquidity and cash requirements, inclusive of payouts. The proprietary firm continuously analyzes and attempts to ensure that the proprietary firm is prepared for all foreseeable financial obligations.
Are the brokers WMT partners with regulated?
We are partnered with third-party brokers which are regulated by various non-U.S. regulatory bodies. This was an important criterion when looking for partners to work with.