I was about to begin jumping through the hoops to apply and read the FAQ's; Then I thought of running this through a BabyPips forum where someone reading this may have had experience with this outfit. Mavericks really does not seem at first glance inherently unethical It's just that a broker posting on Craigslist as if they are an employer appears to be taking advantage of those naive about the true nature of retail forex trading. It's a "training" company that requires you to buy their training program before they allow you to trade their account.
It's a bit scammy, I would recommend staying clear. I would ignore it. You are most likely to pay for the training course or whatever they sell and then tell you that you did not make the cut. A broker will not look for prop traders on Craigslist, at least not in my opinion. Sounds like a nice scam to me. It's not so much a scam, but you will have to pay them for the course, and then you use your money to trade with until you're profitable, while paying them at the same time. So it's basically using your own money to trade and then paying them as well.
So if you're going to trade, just trade on your own. I can't see learning anything different from them than right here on baby pips. I found maverick on craigslist in I was in the process of burning down my own FX trading accounts in and Once I lost my second account, I put forex trading aside, until I revisited Mavericks site, called a recruiter, and joined the program.
It cost about the same as 12 hours at my community college up-front for the curriculum. I pay USD per month desking fee. PerchTird made up that previous figure out of thin air, based on nothing real whatsoever. I have access currently to Mavericks capital for trading, and I only trade Forex. I have no college degree yet. I love currency trading, and I will never stop. Maverick taught me how to trade professionally.
Many experienced traders don't like the FX program because they start you so slowly. For me, it was perfect, because I am not by any stretch of the imagination "gifted" at trading, or experienced. Only join Maverick FX if you want to become a Forex trader, and are prepared for a long game. Sorry you might see this review on a few threads but I feel ppl should be informed with my experience and knowledge when considering Maverick or MaverickFX so yes I'll be posting this on forums that are more popular across the internet.
Also sorry it's long, but seriously if you're about to pony up thousands you out to be informed. This seems to be the average thread for MaverickFX. Maybe not exactly this thread, but Starts off by someone curious of joining them asking questions. Shortly thereafter they join or someone that just joined chimes in, Apparently at first it seems legit and doesn't seem that bad. Meanwhile other posters are warning of a ripoff scam.
Then someone that supposedly had great success comes in to verify MaverickFX is great and cleaned up their trading and now they're making money. All the while the few that recently joined continue to talk about it, but you never hear of their success. They are presented with math problems of the splits, joining fees, desk fees by other posters.
Then they just kind of disappear and fall off after 6 months to a year never following up with how it went with a real review. Ya cause they got ripped off and now feel salty as "F".
I've never seen anyone go from inquiry joining stage to coming back and saying "I made it". Of course why would they come back maverick makes traders out of everybody so they say, and they were the small minority that failed. And trust me I read a lot of threads and never seen a happy ending.
I did get a free week trial to Maverick and had the type of job and time were I watched upwards of 5 of their training videos a day. In fact when I joined MaverickFX I never got cancelled to the options training platform and got to see pretty much all the videos and training on both platforms. If you're interested in the options side of Maverick read their book.
It's the only thing I can recommend about maverick without feeling guilty. As far as the FX side their training is similar. In fact read their book too for the set ups they're mostly the same. Instead of going long strong sectors and short weak sectors, You're going long strong currencies and short weak currencies on the FX side. So you're looking for the strongest currencies vs the weakest when your placing your trades.
The time frame however is a 15M and 1H chart instead of the daily chart for the options traders. Basically I won't go into detail about their strategies as they're all detailed in their book but they're trend followers. If you already have k plus lying around and you're too lazy to read books and research go ahead and pony up in that case the education might be worth it.
But if you're attracted to Maverick cause your account is too small their education too expensive for someone on a budget and isn't that special as the strategies they trade are widely used and many places online will have laid them out for free or many books will have similar strategies.
In fact another book very similar to their strategies is. Stan Weinstein's book "secrets for profiting in bull and bear markets".
Except Stan was more of a weekly trader. I almost wonder if they found their strategies from this guy. Well I can trade from their alerts you think and make money.
Speaking from my MaverickFX experience, no you can't. Often times their alerts get to you too late and and you'd be entering at a price were your risk reward is too far out. In fact I wondered if some of these alerts they sent out were BS cause it seemed to say they entered a trade at 8: Not only that they seem to forget to log some of their trades, oops and they're always the losing trades they forget to log never the winning ones so their record is questionable.
Like I said I joined their FX side paid up and everything sure their videos and stuff are interesting but was it worth the money for an average Joe. Surely if it's going to cost about 4K to get into the FX division with joining fees and risk deposit. Same with the options side since it would cost 11k to start, keep your money and add to it, You get the idea. The guys at Maverick do seem down to earth and sincere. But I'm sure this is their marketing after all they're trying to convince average down to earth ppl with dreams tired of their current career to come join.
If you still wanna join go for it all and all it's your decision but know the truth. It's the perfect business model for them but probably not you. Broker masquerading as Employer? Maverick FX Trading is actively seeking individuals to trade the Forex market on behalf of the firm. Forex trading is a great career as it offers flexible hours, a challenging profession and unlimited potential.
Trade for a firm that backs you with technology, risk management and capital. All of our traders start with a minimum of a 10K account and move up from there. We are only interested in people that like the idea of trading professionally within a trading firm that offers designated capital, promotes the sharing of ideas with other traders, and provides superior training and technology.
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