Transforming a modest account into a substantial one in forex trading is difficult, demanding years of incremental gains. The core obstacle most traders believe they face is a shortage of capital.
This is where prop trading firms enter the picture, offering sizable funds to individual forex traders. With over 30 firms, how can you ascertain which aligns with your needs?
In this article, we shall examine Maverick Trading, a reputable prop trading firm that provides substantial capital with a 70-80% profit share to seasoned forex traders. Given its popularity, the question arises: Is Maverick Trading the right fit for you? Let’s delve in to find out.
What is Maverick Trading?
Maverick Trading is one of the best forex prop trading firms concentrating on two key services: Stock and Options Trading, particularly emphasizing options, and Forex Trading via Maverick Currencies. Maverick Trading is not just hiring traders; they’re invested in fostering trading knowledge.
Mentoring and educational programs provide traders with exclusive strategies, state-of-the-art software, and detailed rule-based methodologies to sustain regular profitability.
Interestingly, Maverick Trading offers more than mere tools. They extend disciplined risk management strategies proven to assist traders in achieving immediate success. There is no need to be in Utah; the firm accommodates remote traders from various global locations.
Maverick Trading offers an inviting atmosphere, whether you’re a trading newcomer or an experienced veteran. They pioneer a capital-sharing program that aligns the interests of the trader and the firm, guaranteeing a balanced trading experience conducive to mutual success.
How Does Maverick Trading Work?
To clarify the Maverick Trading operation, let’s explore it step-by-step, starting from the application phase and culminating in capital sharing. The sequence is as follows:
Joining the Squad:
Maverick seeks talent through job boards and social platforms. You submit an application, undergo an evaluation based on your trading background (they’re highly selective — only 3-4% cut), and potentially complete a paid training program if you’re not already proficient.
Training and Qualification:
Everyone undergoes the Maverick Qualification process. It’s not a race; focus on completeness over speed. Expect at least two months on a demo account, including homework, assessments, and reviews.
Capital Sharing Program:
Once qualified, you enter the capital-sharing program and might be required to make a risk deposit for increased trading leverage. Risk managers oversee your trading, and progressing well could lead to a better profit-sharing arrangement. The company doesn’t charge commissions; it’s all about profit splits and cooperative efforts. A $200 monthly fee covers continuous mentorship, risk assessments, webinars, and other features.
Distinctive Features of Maverick Trading
Among the best prop trading firms, Maverick Trading provides an array of offerings, whether you’re an experienced trader or a forex enthusiast eager to maximize your profits. They offer the following programs:
Professional Trading Program: Aimed at expert traders, you get access to Maverick Trading’s proprietary system and capital, with a percentage of the profits returned to you.
Forex Program: This program is a match made in heaven for those specializing in forex. You can trade forex markets using Maverick Trading’s capital and profit share.
Options Program: Options fans, your program is here. Use Maverick Trading’s capital to explore options trading and enjoy a portion of the profits.
Maverick FX Fund: This hedge fund is managed by Maverick Trading and is accessible to individual and institutional investors. It offers the advantages of portfolio diversification and professional management.
Their proprietary trading system, armed with smart algorithms and risk management features, underpins the success of Maverick Trading.
Maverick Trading Costs
In terms of pricing, a $4,000 lifetime membership fee is your starting point, followed by a monthly $199 desk fee. Ready for live trading? A $2,000 risk capital deposit is necessary. Initially, you begin trading with a $4,000 account to foster prudent risk management. Success will grant you access to a $10,000 account.
Maverick Trading has multiple ranks, paralleling their Options Division, where consistent trading that surpasses your previous records for two consecutive months is rewarded. Losses beyond your risk capital deposit don’t become your liability—they’re non-recourse. Performance bonuses kick in at $3,000 profit splits with the firm.
A top-tier account holds $300,000 for ambitious traders capable of managing up to $15 million in FX. Over 100 hours of exhaustive FX tutorials are available, complemented by structured coaching.
Pros of Maverick Trading
- Comprehensive education for all skill levels
- Flexible trading simulator and journal tools
- Dedicated risk managers
- Supportive and approachable staff
- Over 20-year track record
- Remote and part-time trader friendly
Cons of Maverick Trading
- High program fees
- Challenging risk deposit requirements
- Time-consuming entry process
- Low acceptance rate (3%-4%)
Conclusion
Maverick Trading sets a standard among the best forex prop trading firms and potentially the best crypto prop trading firms. It’s an invaluable resource for traders looking to elevate their skills and secure additional funding.
While Maverick has a global fan base, joining isn’t straightforward; a substantial time investment is required for their training modules. Therefore, if this piques your interest, learning more about Maverick Trading is recommended. Click here to sign up for Maverick Trading today!