Prop trading firms have sprouted up like mushrooms in recent years, taking advantage of an insatiable market need to access capital, gain the wits to trade and execute smart strategies. Trading used to be the domain of the wealthy or the connected, and the doors remained closed to swathes of the public, who could have used easier access to enrich themselves and their families.
Prop trading companies emerged to tap into this pent-up demand for market access. Beginner traders who used to save up for years to get a toe in the foreign exchange market suddenly could access startup capital and the tools to get things going.
WeCopyTrade, a three-year-old Canadian company, set up a social trading platform that allows so-called Master traders and those who mimic their trades, called Copier traders, to collaborate and make money. In 2022, WeCopy Trade launched its own prop trading firm called WeMasterTrade, which includes distinct features that have made it an emerging market leader.
First among these novel offerings is WeMasterTrade's exclusive approach of providing instant funding without needing tests or evaluations to access capital. Other prop trading companies really make novice traders run the gauntlet before they even let them get trading. But with WeMasterTrade, the philosophy is power to the people. It's a so-called "angel-venture model," and for new traders, it might feel that they really are in heaven. Users can get trading after paying an entry fee -- just $50 for a standard account that gives them access to $10,000.
Users also enjoy the fact that WeMasterTrade doesn't limit their trading styles. This means that they can engage in Expert Advisor (EA) trading, copy trading, scalp trading, and day trading. Users can also trade everything they want, from forex to crypto, metals, indices, and stocks. WeMasterTrade doesn't let its traders fly solo, though.
New users are onboarded using a discovery platform that allows the company to understand their skills and their needs better. This involves a three-stage learning system, where new traders are taught the fundamentals of trading, get to hone their skills on a trading simulator, and then are cleared following an evaluation. They also get access to tutorials, videos, webinars, and other tools to help them improve their abilities, such as a library of financial intelligence tools and real-time market data on over 5,000 financial instruments. It's a learn-on-the-job approach, and it seems to work for the company, given its popularity.
WeMasterTrade is also a community-building platform. To encourage this sense of community, it hosts special contests where learning to trade can result in up to a 90% profit share of any earnings.
ForexDailyInfo, a leading financial portal covering the foreign exchange market, named WeCopyTrade the Best Online Forex Education Provider in recognition of its WeMasterTrade Education program. Forex also awarded WeCopyTrade, WeMasterTrade's parent, the title of Best Funded Trader Copy Trading Platform of 2024.
WeCopyTrade also achieved International Organization for Standardization (ISO) certification for its quality management systems (ISO 9001) and educational organizations management (ISO 21001). The International Accreditation Council (IAC), a US certification body, certified WeCopyTrade.
The company has big plans for the future. It will continue to invest in educating traders about the financial markets, maintaining its position as a go-to resource for education.
This will enable it to stay true to its goal of providing a level playing field for traders of all stripes, so that anyone who wants to get trading on the market and improve their financial independence has the ability to do so.
The company is developing its own global fund that can offer investors a more diversified portfolio. And it's expanding internationally, becoming active in Australia as of last year. Those trends look set to continue as it evolves into a premier international investment firm, which will raise its profile, and make it even more attractive to retail traders everywhere, including its own trader community.
Disclaimer: This content is part of a marketing initiative. No TNIE Group journalists were involved in the creation of this content.