In this Maverick Trading review, you’ll learn more about the prop firm. The truth is that forex traders might have a difficult time growing their accounts, especially if they are new to the game. It may take years of trading and gaining experience until you are able to make a profit, and sometimes you might not have enough patience. Trading for a living is definitely an eye-catching offer, but you can hardly earn enough for yourself without a decent amount of capital.
Today, traders who want capital have a new option: prop firms. These companies offer traders funding as long as they qualify.
The prop firm initiative is compelling but having so many different companies to choose from doesn’t help. How do you know which firm you can trust, or which one can offer you a decent amount of money to help you become a money-making trader?
In this post, we will review Maverick Trading, a prop firm that many forex trading enthusiasts choose for capital. Not only does it offer a good sum, but it also welcomes traders of different experience levels. Let’s see what this company can offer.
What Is Maverick Trading?
Maverick Trading is a proprietary trading firm that was established back in 1997. The current CEO of the firm is Darren M. Fischer. This company is one of the most popular of the sort in the industry, and it recruits traders and teaches them how to get better at trading and make a profit. As it’s been around for such a long time, it gained enough experience to be qualified to give people advice and training.
One of the greatest traits of Maverick Trading is its high funding. Basically, you can get between $25,000 and $300,000 in capital as long as you are able to prove your skills. On top of that, there is also a great profit split too, of 70-80%. Of course, it all depends on your trader level.
What Makes Maverick Trading Unique?
Maverick trading may offer the same thing as other prop firms, but it actually has a trait that makes it stand out from the crowd.
If you look at most proprietary trading firms, you will see that they will make you pass challenges before granting you capital. This is the industry standard. To complete a challenge, you must be able to reach the profit target while respecting the rules set by the prop firm, and you must do so before a certain deadline.
Maverick Trading doesn’t just throw you into an overwhelming challenge from the get-go. They know that not all forex traders interested in capital are experienced and skilled individuals who have been trading for years. So, they first offer their applicants some training, which can prepare them for when they start using capital and get serious with trading.
It’s not a model that all traders appreciate – particularly those who don’t want to waste any time before they get funded. However, while there are fewer sign-ups here, the traders tend to stick around for much longer.
How to Get Funded by Maverick Trading?
You’re here for one reason: to learn whether Maverick Trading is worth checking out and to learn how you can obtain capital from this company.
The good news is that the process isn’t that complicated. Still, it’s quite long, so you need to brace yourself for it.
Here are all the steps you must go through:
Applying for FundingFirst things first, you must apply for capital. In order to do so, you must fill in some forms.
But in order to apply, you must also pay a small fee.
Finish the Training Process
Next, you’ll be required to participate in a training program. This program is made to prepare forex traders for what’s to come, such as the capital and the large markets. It can take a while to complete the whole trial, but in the end, it can help you a lot. Without it, some traders might walk into this ordeal unprepared, which can be damaging to them.
Show What You’re Capable of
After the training process is completed, it’s time for you to prove your trading ability. Do you have what it takes to trade with a large capital or not? This step will bring it to the surface.
What you have to do is craft your own trading plan and follow it. If you’re successful in your trades and know how to manage risk, you’ll be able to move forward.
Get the Capital
If you prove your skills, you can finally get funded. Not only that, but you will also get 70-80% of your monthly profits.
Looking at the scaling options of a prop trading firm is crucial before settling for it. Luckily for Maverick Trading, it has a great scaling program or, better said, a capital sharing program.
But Maverick Trading is a bit different from other proprietary trading firms. There are no rules set in stone when it comes to increasing a trader’s capital. Instead, you can only get your capital increased if you can manage risk successfully and if you are consistent.
This is a way for the firm to make sure traders are always motivated to become the best at forex trading.
The account scaling is done from accounts with $10,000 or $20,000 capital up to accounts with $150,000 or $300,000.
Pros and Cons of Maverick Trading
Maverick Trading is great in many ways, but it is not perfect. Before applying for funding, you should know what you can expect from this company. That being said, here are some pros and cons to be wary of:
- Maverick Trading guarantees that people’s personal information will be safe
- The team is extremely professional, supportive, and helpful
- There will be an agreement made between the trader and the company
- No lengthy challenges involved
- The firm has a lot of experience in the industry
- Offers education and training
- Suitable for both new and experienced traders
- No registration details are available
- Very long process
- High membership fee
What Do People Think About Maverick Trading?
If you’re going to consider Maverick Trading for capital, then you might want to know more about people’s experiences with this company.
Unfortunately, not all forex traders know about prop firms because there isn’t a lot of coverage for them. Most of the time, there will only be a few articles written about certain proprietary trading firms. Apart from that, the industry is pretty much in the shadows.
Maverick itself has gotten a bit of coverage. It appeared in RealClearMarkets, CNBC, Fox Business, and Forbes. But this company has been around for a long time, so media coverage is not exactly required for it. Many individuals have already gone to this firm to apply for capital and they were successful.
The Overall Rating
On TrustPilot, the firm has a pretty good overall rating. It’s currently sitting at 4.3 stars out of 5, with 85% of the reviews being positive. At the moment, there are no 1-star reviews, but they have a few 4-star, 3-star, and 2-star ones.
Although only 68 people have tried the prop firm, it’s clear that most of them had no complaints about the services. Some have praised the Maverick Trading team, who is very professional when it comes to approaching potential customers. Not only that, but they were also happy with the platform’s ability to transform people into strong traders.
The reviewers who didn’t leave a positive rating complained about the high membership fee or about the difficulty of making forex trades that bring profit.
Is Maverick Trading Legit?
Yes, Maverick Trading is a legit company, as proven not only by the amount of time they’ve been operating but also by the positive reviews they’ve received over the years.
With Maverick Trading, you can learn how to make a living from your forex trading activity and how to manage your money. It is a great opportunity for all traders.
The only obstacle is the high membership fee, as not all traders might have the means to maintain an account that requires so much money. However, this doesn’t change the reliability of the firm in any shape or form.
The Bottom Line
Overall, this Maverick Trading review revealed that this is a great prop firm for people who want to obtain capital and take their trading activity to a new level. You do not have to pay a fee and join a challenge. Instead, you’ll be trained by the company to ensure you turn into a strong and profitable forex trader. Maverick is legit, and you can rest assured that you won’t be scammed.