One of the well-known names in the world of online trading is Maverick. Maverick Trading stands as one of the most unique online platforms for people who want to participate in options and stock trading, and make a lot of money while doing so. However, the trading model that this firm offers is completely different from what most traders are used to seeing. A lot of people in recent days have even started calling it a trading scam. We cannot call a broker scam or legitimate unless we find out something that clearly defines it as one.
Today, you will get to know about Maverick Trading in detail. After that, it will be entirely up to you to make your decision of joining or not joining this online platform. Before going into the details of what this so-called trading scam offers, let’s look at what makes it’s the model different from other online brokers like XTRgatescam.
Understanding the Core of Maverick Trading
The first thing you have to know is that Maverick is not even a broker. When you look at other online websites that provide you with a trading platform, you can see a lot of commonalities in them. They ask you to sign up with one of their trading accounts. They give you access to a trading platform and then an asset index. You can choose your favorite asset and trade it whenever and however you want. The broker just takes a fee from you or makes money through spreads. It even offers you leverages on your trades to help you make large profits.
However, when you look at Maverick Trading, this company has something completely different to offer. You can join its platform even if you are a broker. The idea is to use the capital of the company to trade in financial markets. The instruments you have include forex currency pairs and options. You have to have some understanding of these trading instruments before you can start trading with Maverick. Now, you are not going to choose a trading account with lots of leverages and margins. In fact, you will be using the money from Maverick to trade in the market and get to keep some portion of the profit you make.
You will receive proper training before you can start trading with Maverick because if you are someone who has no knowledge of trading, you will not be able to pass the verification process of the company. In fact, if you do not know already, you have to present a complete trading plan before you can even start trading Maverick’s capital. If you do not have a trading plan and a complete explanation on how you will use that plan, you cannot even join the platform in the first place. That’s where most of the new traders get filtered out. Only if you have some understanding of trading will you be able to make it through the verification process. You can see here that the model of trading offered by Maverick is completely different from other brokers.
Perhaps, this is the reason why so many traders have started to think that Maverick is a trading scam. They might not fully grasp the idea of trading with this company.
Detailed Review of Maverick Trading
Before labeling any online entity as a trading scam, you should do your part responsibly and investigate deeply. That’s what we are going to do here. Let’s look at the many features that this online platform offers and see if there are any telltale signs of it being a scam.
· You Trade Firm’s Money
So, the first thing you will be surprised to know about Maverick is that it does not require you to spend your money on trading. Yes, if you go on the website, you will find out that the company offers you its capital to trade in various financial markets using the instruments that it allows. You will be given access to some great trading platforms where order execution is fast, and you have all the necessary information and indicators to enter successful trades. With other brokers, you have to deposit your own money in your account, and then use this money to enter any trades.
When you sign up with Maverick, you will be trading with the money that comes into your account from the firm. However, there is a catch to that. While the website never mentions it, there are online reviews that tell you that you have to deposit thousands of dollars in your trading account before the company can grant you access to its capital. This could make many traders skeptical about the company and its intentions. Throughout the website, you get the feeling that you will not have to spend any money to start with Maverick. However, you will be surprised to know that you will require around $11,000 to start trading with this trading firm.
· New Traders Might Have Some Difficulty
If you are a new trader, you might have some difficulty in joining the platform. In fact, the details given on the website by the firm can be a bit overwhelming for you. First of all, you will have to answer a lot of quizzes to prove that you have proper understanding of what you are getting yourself into. If you cannot answer the quizzes, you will not be able to pass the first stage of your verification to start trading with Maverick. Secondly, you will have to create a trading plan. This trading plan will have to be detailed to show how you will be positioning yourself in various trading scenarios and making profitable trades.
A lot of what you do is given to company’s management for making a decision. If they think your trading plan makes sense, they will let you through to test yourself in the next stage. The next stage is you proving your previous background in trading. You will have to show trading statements from any other broker that you signed up with in the past. These statements will show that you have traded in the past. You can also show any proof of you trading using the demo account with the broker. However, once again, it is for Maverick’s management to decide if they should accept your demo trades.
From the information above, you can see that it will be hard for you to make any place in Maverick’s trading system. However, you have to keep in mind that the trading firm will provide you with a lot of training so you are ready for trades according to its guidelines.
· You Get the Money Like Salary
With other brokers, you make profits on your trades and then you withdraw as much money as you want. It is going to be the same with Maverick, however, you will have to face some restrictions this time. You will have to wait for a month before Maverick can disburse the profits you have made on your trades. Every month, you will receive your money through ACH. You have to keep in mind that the money you get will be based on the profit-sharing model you qualify for at that point.
As you continue to trade on Maverick’s behalf, you will continue to rise in your ranks. Rising in the rank means that you will get to keep up to 80% of the profits you make on your trades as an elite trader. There is no limitation on how much money you can trade at any given point. However, the inside story can only be told by someone who has completed the training program, passed the verification process, and traded with Maverick at some point.
Here’s the Problem with Maverick
Everything sounds great until this point. However, as you start to read between the lines, you realize that there are a few things that do not make clear sense to the trader. First of all, why are you never told on the website that you will have to spend money to become a part of the system? Not to mention, any HR expert in any part of the world will tell you that a company that asks for money before giving you a job is not a legitimate company. Of course, Maverick is not hiring you, which is what’s clearly mentioned on the firm’s website. But everything should be made clear to the traders.
In addition to that, you are never really given enough information about deposits and withdrawals. The whole website is more of a sales pitch. The company continues to tell you how trading with it is beneficial for you, but you never get to know how you are going to deposit money and withdraw it when you need to. While Maverick talks a lot about its training, you do not find enough training material on the website. However, you can take the word that comes from traders in this regard. They say that the training from the firm is quite intensive and helpful.
Last but not least, you do not get any information on the website about regulations from any regulating authorities. If the company is providing financial services, it has to be regulated by a well-known regulating authority. Is it regulated? You can’t find that information on the website, or easily at least.
Is Maverick a trading scam? Nothing can be said with 100% surety. There are some things that make Maverick Trading a bit suspicious. On the other hand, you have some great reviews about the company on various renowned platforms. They make you think everything is fine. However, the best advice to anyone who wants to make money through trading is that if they have even 1% about the legitimacy of the broker or firm they are signing up with, they should not sign up at all.