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MaverickFX.com Review

Overall Rating: (3.250)
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Total Reviews: 7
Last Updated: 2014-03-25
Special Notes:

This is another company that offers training, followed by supposedly providing some access to capital from an unspecified source for trading.  The FPA advices carefully examining all the terms and performing background checks before signing up with such a company.

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2010-06-10
Review: We haven't tried the forex education or fx trading employment offered by MaverickFX.com. If you've learned to trade forex from them, please leave a review here.

Andy, West Virginia, USA

Rating:
Date of Post:2013-06-02
Review: I traded with their FX division for a while. It is somewhat of a scam. You basically pay a lot of money for education, of which isn't that great. All basic stuff you can learn on your own. 800 startup fee + 200/month and the monthly fee can start to add up quickly. For that amount of money, you can get better education than what they offer. In addition, they don't offer anything when it comes to FX prop trading. You have to prove yourself on the demo, which is fine, but after you do so, you basically just plop down your own 2 grand, and you trade it the same way you would do if you were trading on your own, in your own retail account outside of Maverick, except that you give away part of your profits to them! You take all the risks, you have to properly manage your risk based off the 2 grand account, they don't offer additional capital or anything. From the Prop trading perspective it is a scam. If you talk to them about it, they will say they give you "leveraged capital", which is laughable because when you are trading off a 2K account to start off with, you don't need additional leverage assuming you are controlling your risk (percentage of your account per trade). Even if you aren't controlling your risk, you still don't need them---leverage in forex is accessible to anyone who can open a retail account.

FX Hound, Sarasota, FL, USA

Rating:
Date of Post:2012-03-21
Review: Good shop. Always pays out on time. You still have a lot of work to do to develop your own personal trading system but their training is solid and splits are respectable.

Tom Bradley, San Diego, CA

Rating: No Rating
Date of Post:2011-10-14
Review: Started trading with Maverick on their FX side in July 2010. Been pretty happy overall with everything. Training was great and the instructors were awesome. The only complaint I have is they switched from Metatrader 4 to IB's TWS which I haven't got used to yet as a trading platform. spreads are much tighter over there and there isn't as much slippage around major news announcements as we saw on MT4. Had to rewrite some of the EA's I had running and the API at Interactive Brokers is trickier to use.
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Breck Burkin, San Francisco, CA

Rating:
Date of Post:2011-09-14
Review: I've been trading FX with Maverick for over a year now and I have no complaints and only good things to say. There is never any problems with my payouts and I get them in 1-3 days after requested. They have provided me with additional trading capital but only after I was able to generate positive pips in my sub-account. If you don't generate positive returns, don't expect to trade with any additional capital. I read Kevin's response and don't know what happened or not but I can say my experience has been very positive overall. PM me if you have any questions.

Kevin, Colorado

Rating:
Date of Post:2010-12-20
Review: I signed up with Maverick Trading FX in August 2010 and paid a $998 fee to start up and $199 for two months after that. I attended their online classes, passed their tests and showed growth in my demo account. When it came time to do the capital sharing program, they didn't contribute any capital like they said they would.

I pulled the plug and asked for a refund. They only gave back $199. I would stay far away from these people. About 95% of their trades are based on news announcements. They teach about reading the charts, but their trading alerts are when there are news events.

Everything they teach can be learned online for free.

Thommy, FL

Rating: No Rating
Date of Post:2010-06-19
Review: I just joined and so far I like what I see. The costs are as follows:
800 up front + first month(200)
200/month after that for each month you are with them
2k of risk capital when you are approved to go live.

I have been trading on my own the last year, but am still going through all their instructional videos. They know what they're talking about, that's for sure.

Once you are approved to go live you can trade their capital and start with a 70/30 split(you keep 70%) and then gradually move up.

The amount of time it takes to go live with them depends on your performance, but the best time frame would be after 2 months of demo practice.

I rate them average right now because I'm not even in demo yet, although I plan to be within a week. I will continue to update my review. I also have started a blog about my experience with them at eioprofits.blogspot.com (mods you can remove if not allowed) There is no financial interest for me, I just couldn't find anything on maverick on google so figured I'd start up a blog and share my experiences.
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