Confused with Maverick Trading..

T

TrendPlayer

I've been interested in some type of prop training program. I'm a bit confused by Maverick Trading's set. On their site, it says you need to contribute $5000 in equity towards a sub-account (http://www.mavericktrading.com/member_agreement.php) - Doesn't this mean they need to be operating as a broker/dealer?

Is their firm safe from a legal perspective? It seems to me like prop firms must be registered in some capacity but Maverick doesn't seem to be.

Can anyone give me some more details on their model and if it's as safe of a route as a series 56 and going with a CBSX broker-dealer?
 
TrendPlayer said:
I've been interested in some type of prop training program. I'm a bit confused by Maverick Trading's set. On their site, it says you need to contribute $5000 in equity towards a sub-account (http://www.mavericktrading.com/member_agreement.php) - Doesn't this mean they need to be operating as a broker/dealer?

Is their firm safe from a legal perspective? It seems to me like prop firms must be registered in some capacity but Maverick doesn't seem to be.

Can anyone give me some more details on their model and if it's as safe of a route as a series 56 and going with a CBSX broker-dealer?
More...

They have a book out plus YouTube video. They charge hefty fees for education then pass some of that to you as risk capital to trade...
 
nazzdack said:
Their's is a "douche model". Don't bother with it. :cool:
More...

Agree. They are a total scam. If they accept your deposit they must register as a BD or they are trying to sell you useless information. Stick with a real firm like Bright Trading or JC Trading Group.
 
I remember hearing Maverick was purchased by a retail broker. They've been around quite a while so I don't think it's fair to be labeled as a scam. If education is your top priority, an educational firm where you pay for training and later access capital will be your best bet because you will learn the most.

I don't necessarily think throwing someone in the deep end to teach them to swim i.e. Starting with live capital to learn how to trade.

If you're looking for leverage, low commission rates, etc., Maverick isn't going to be for you. I don't see as many reviews about them as other educational prop joints so you may want to see if you can find anyone who is with them or has been to learn more about the process from a customer's POV.
 
I have no idea if Maverick is a scam or completely legit but I do know the fact that they have been around for quite a while is an absurd metric to use. Madoff was around for decades. Madoff is but one of many examples that could be used.

EvOTraderV2 said:
I remember hearing Maverick was purchased by a retail broker. They've been around quite a while so I don't think it's fair to be labeled as a scam.
More...
 
I've been daytrading full-time for a year now and wanted to explore the prop firm model for additional leverage. I see that Maverick isn't considered a "prop firm" in the traditional sense, however they seem to market themselves as one. I spoke to one of their recruiters recently and they seem to want more than what I expected.

Is it standard practice within the industry to charge a non-refundable member fee ($6K in the case of Maverick) in addition to the capital contribution ($5K minimum deposit)?
 
Mr_Credit_Spread said:
I've been daytrading full-time for a year now and wanted to explore the prop firm model for additional leverage. I see that Maverick isn't considered a "prop firm" in the traditional sense, however they seem to market themselves as one. I spoke to one of their recruiters recently and they seem to want more than what I expected.

Is it standard practice within the industry to charge a non-refundable member fee ($6K in the case of Maverick) in addition to the capital contribution ($5K minimum deposit)?
More...

No! Basically Maverick will fund you with your own capital and if you blow that capital contribution without figuring it out, you are out the door IE risk free business for them. Other firms will require you pass S7 or 57. Maverick Trading does have a book out, you can read about their training/ trading model.
 
Last edited:
dealmaker said:
No! Basically Maverick will fund you with your own capital and if you blow that capital contribution without figuring it out, you are out the door IE risk free business for them. Other firms will require you pass S7 or 57. Maverick Trading does have a book out, you can read about their training/ trading model.
More...

Thanks dealmaker. Do you have any recommendations on legit firms that won't try to bilk me for education or extra membership fees upfront? I'm willing to get the 7 or 57.
 
You must log in or register to reply here.
Back
Top