Maven Trading is a proprietary trading firm providing funding and support for traders seeking to access the markets. Traders are given the opportunity to trade without restrictions on time or instruments.
Maven Trading offers traders access to funded accounts to trade various markets like stocks, forex, futures, and options. You can develop your trading strategies and trade as often or as little as you like. Maven only requires a small share of profits, so their targets are easy to reach.
The best part of Maven Trading is the large amounts of capital they provide. As you prove yourself, you can get funded with up to $500,000 to start and increase that to over $1 million. This allows traders to take advantage of more opportunities and bigger positions.
Maven Trading has built a community of experienced traders who share knowledge and insight. You’ll have access to educational resources and the opportunity to connect with other traders. If you want to become a prop trader, here is a detailed Maven Trading review.
How Does Maven Trading Work?
Maven Trading works in three simple steps. First comes the Challenge Stage, where you can flex your trading muscles across 400+ forex pairs and CFDs. Trade as much as you like with relaxed rules – it’s all about proving you’ve got what it takes.
If you’re successful here, you move on to the Verification step. This repeats the challenge but with stricter limits to confirm your real skills. Pass, and it’s onto the main event – your Live Account! This is where the real thrill lies. You get to trade live markets and keep 80% of the profits. The best part? You can withdraw your winnings at any time.
Maven Trading partners with broker EightCap to give you tight spreads and optimal trading conditions. Forex trades cost $5 per lot, while CFDs on oil, crypto, and more are commission-free. The Maven platform offers unlimited trading days and caps your drawdown at 10% of your balance. Your daily drawdown depends on how much you’ve got in your account.
What is Maven Trading’s Consumer Base?
Maven Trading appeals to a wide range of traders with different experience levels and schedules.
Maven Trading’s challenges can provide a platform for newcomers to demonstrate their trading skills and gain market experience. The competitions allow beginners to start with a small amount of capital to minimize risks as they learn the ropes of trading.
Seasoned traders looking to scale up their trading activities may find Maven Trading a suitable platform. The funding and leverage offered by Maven allow veteran traders to take on bigger positions and potentially generate higher returns.
Maven Trading could be a good fit if you have a full-time job or other responsibilities but want to engage in trading on the side. The platform accommodates flexible schedules so you can trade whenever you have spare time, even just a few hours a week. You can start small and grow at your own pace.
Maven’s community of over 10,000 traders also suits those who value being part of a group where they can share ideas, strategies, and experiences. Connecting with like-minded traders can help motivate and educate, whether online or at local meetups.
What is The Maven Trading Funding Challenge?
The Maven Trading Funding Challenge offers traders an innovative way to access generous funding and leverage for forex trading. Traders take part in a two-step challenge to unlock funding.
The first phase targets 9% profit with a 10% maximum drawdown. Reach the target, and you’ll move on to the second 5% profit phase, again with a 10% max drawdown. Hit both targets, and you’re funded!
This challenge stands out for its flexibility. There are no strict time limits, so that you can trade at your own pace. Maven also allows news trading and EA trading (with limits). They offer an 80% profit split, withdrawals every 14 days (minimum $100), and leverage up to 1:30.
To get started, you open a live Maven account and join the funding challenge. Maven provides a practice account to prepare. Then you begin trading your strategy in the live challenge. Achieve the profit targets with a limited drawdown, and Maven will fund your account up to $1 million.
The Maven Trading Funding Challenge provides an exciting opportunity for traders to unlock substantial funding and trade forex markets with more flexibility and leverage than typical prop firms allow. If you’re ready to take your forex trading to the next level, the Maven challenge could be your chance to trade on a much larger scale.
Maven’s 2-Step Challenge accounts are ideal for new traders seeking real experience without a huge financial commitment. The accounts range from $5,000 to $500,000, but the $5,000 and $10,000 options are particularly competitive.
What are The Maven Trading Rules?
The Maven Trading rules are straightforward but important to follow for the best chance at success.
- Adhere to the maximum daily loss limits. For the 1-step challenge, the max loss is 4% of your account balance. For the 2-step challenge, the max is 5%. Going over these limits means you’re taking on too much risk.
- Don’t exceed the total max loss for your challenge. The 1-step challenge max loss is 6% of your initial deposit. The 2-step challenge max is 10%. Losing more than this means you’ve essentially failed the challenge.
- Only trade the securities Maven approves. They carefully select stocks, ETFs, and options with a high probability of gains. Straying from their picks introduces unnecessary risk.
- Follow the entry and exit rules precisely. Maven’s trading signals tell you exactly when to buy or sell for the best price and lowest risk. Missing these points can lead to losing trades.
- Don’t get emotional. It’s easy to get attached to a stock or want to hold onto a losing position. But Maven’s rules are based on hard data and probabilities, not emotions. Follow them objectively for the best results.
- You must execute all trades through their proprietary trading platform. No third-party brokers or software are allowed.
- Manipulative or deceptive trading practices like front-running, insider trading, high-frequency trading bots, martingale strategies, latency arbitrage, and reverse trading are strictly prohibited.
- Maven Trading monitors all trading activity and account balances in real time. Any suspicious trading behavior could result in account restrictions or closure.
- The maximum allowable leverage on the platform is 50X. Higher leverage increases the risk of losses from volatile market movements. Start with a lower leverage of 10X to 25X as you learn the ropes.
- Maintain a maximum risk per trade of 1% to 2% of your account balance. Close losing trades quickly if they go against you.
What are Maven Trading Pros and Cons?
When considering Maven Trading as your broker, weighing the pros and cons is important. Here are some pros and cons of Maven Trading based on reviews.
- Diverse funding options: the platform offers a wide range of funding choices, allowing users to select the most suitable option for their needs.
- Availability of discount codes: users can take advantage of discount codes, potentially saving costs on various transactions.
- Competitive pricing: the platform maintains competitive pricing, ensuring users access favorable rates and competitive fees.
- Timely payouts: users can expect prompt payouts, ensuring efficient and timely access to their funds.
- News trading allowed: the platform permits news trading, enabling users to capitalize on market events and trends.
- Limited leverage: the platform imposes restrictions on leverage, which might limit users’ ability to take larger positions in the market.
- No guaranteed funding: users should be aware that there is no guaranteed funding, and funding availability is subject to market conditions and platform policies.
Is Maven Trading Right for You? A Balanced Review
So is Maven Trading the right choice for you? That depends on what you’re looking for in a prop firm. If you want an opportunity to trade without risking your capital, Maven’s innovative challenge program is ideal. Their comprehensive trading platform also allows you to develop and test different strategies.
Maven’s team has decades of experience supporting new and seasoned traders alike. Their educational resources and mentorship program help traders at any level to improve their skills. But if constant guidance and tight oversight aren’t for you, you may fare better at a firm with a more hands-off approach.
Overall, Maven Trading provides an excellent opportunity for traders looking to get started or gain experience with a reputable prop firm. Their policies promote a healthy trading environment where you can develop your skills and achieve your full potential as a trader. Click here to join Maven Trading and start your trading journey today.