Welcome to Maverick Trading review. Maverick Trading is a prop trading firm operating out of Salt Lake City, Utah.
They’re also operating as a private equity trading company which means they should be licensed.
The company is advertising an opportunity to earn $100,000 per year trading with their capital.
This is false advertising!
Traders take 70% to 80% of the profit while the firm takes whatever is remaining.
There are 3 account types that students can apply for. These include Associate Trader, Master Trader and Elite Trader.
Each one of these packs are broken down into levels. The first plan has level 1 and 2 where students are funded $25,000 to $40,000.
The second plan has level 3 and 4 where students are funded $75,000 to $100,000.
In the third plan, students go through levels 5 and 6 where they are allegedly entitled to trade with $400,000 to $800,000 of the firm’s capital.
Rarely do people ever get funded. It is just pure marketing.
Also, to trade with Maverick Trading’s capital, you must pay them upfront. The fees have not not been disclosed.
One has to sign up to discover what they should be paying the firm to trade on a simulator.
This is wrong idea!
You can start trading even if you don’t have much. If you have a good trading software, you can build your account slowly.
Is Maverick Trading legit?
I’ve always discouraged traders from using the services of prop trading firms like Maverick Trading.
A prop trading firm will always have an edge over its students.
Therefore, most of the time you will lose whatever fees you had paid them.
While a prop trading firm like MaverickTrading is providing training, mentoring and support, the training is freely available on the internet.
This training is basic at its best. There’s nothing new that you’ll be taught.
The Maverick Trading qualification program is also very difficult to pass. I doubt if there are any people who succeed to the point of getting a funded account.
Should you pay Maverick Trading to trade their capital?
The concept of a prop trading firm is basically a sham. Why do you pay someone to trade his money?
The goal is to fund traders and also to find good traders who can make profits consistently.
There are some really good traders out there who can qualify.
However, the devil is in the details, which is why Maverick Trading and other prop trading firms don’t simply go out looking for good traders.
They’re basically looking for everyone with money to pay them. And definitely “everybody” will fail and lose their nonrefundable fees.
Maverick Trading does not mention their fees upfront. Furthermore, students are basically paying to paper trade the firm’s account.
This is something you should do for free. Just open a demo account at any broker and learn the skill.
But prop trading firms are a scam, which is why they want to make you pay to trade on a simulator.
Stay away from Maverick Trading and any other prop trading firm.