In this Maverick FX Review let’s dissect why people have a notion that Maverick Fx is a scam and let’s have a brutally honest evaluation of the legitimacy and fairness of such a high membership price.
Maverick Fx Review Summary
Company: Maverick Trading Inc
Price to join: $7000
Best For: Experienced traders who are willing to meet quotas
Recommendation: Not recommended
Overall Rating: 18/100
Summary: Maverick Fx Trading or Maverick Trading is a proprietary trading firm
What Is This Maverick Fx Trading Review About?
Maverick Trading was established in 1997 and was incorporated in 2003. It’s a registered proprietary trading dealing with Options/Equities and Forex. They offer training for their training associates as they are given the chance to trade with with the firm’s capital. Becoming a trading associate doesn’t require having a college degree and they mentioned that they are ope to both the experienced and inexperienced traders.
We have verified their business registration from Utah’s business search feature on their website:
As it caters to degree, non-degree holders, experienced and newbie traders, It sounds promising but not until you learn about its price. But before we go into that let’s first try to evaluate if Maverick Fx Trading is a scam, or is it a pyramid scheme?
Is Maverick Fx A Pyramid Scheme?
Truth is, we can’t call it a pyramid scheme since they are registered as a business and have long been recognized as a proprietary trading firm. But what does it really mean, it’s not everyday that we hear of a company like that.
According to Investopedia, “Proprietary trading refers to a financial firm or commercial bank that invests for direct market gain rather than earning commission dollars by trading on behalf of clients.” So basically they are a trading firm that doesn’t cater to clients, but instead trades for their own company gain. But why are there queries and speculations that Maverick FX trading is a scam? Some even say that they are a Ponzi Scheme!
In this Maverick Fx review, we’ll try to diseect every detail that has led them to that association.
What is a Ponzi Scheme?
Just a quick overview, let’s try to first define what a pyramid scheme is so we won’t interchange them. A pyramid scheme is an illegal business structure focusing on recruitment rather than selling products and members profits from commissions gained from downline. A ponzi scheme on the other hand is an investment program that promises high ROIs with little risk and it rewards earlier investors by the money taken from new investors.
So basically, they almost operate in the same idea that when you are a new investor it’s unlikely that you will gain any monetary advantage like those above you since you need to create a network under you before you can get commissions and rewards. What happens is that when the pyramid collapses, either the business caves in or there is a lack of new recruits, you can’t really maximize your investment in the program.
Imagine paying to join a program where people above you make money from your sales. No matter how hard working you are, unless at some point you recruit and form your own pyramid of downlines, then that’s the only time that you could truly profit from it.
The reason why people fail to become top of the pyramid is because of the following reasons:
1. They don’t make enough repeat sales/ or reach quota
2. They fail to recruit other people
3. There is no retention in their recruits
It is also vital that you know about the difference of an MLM or a multilevel marketing business. To put it simply, an MLM is just a legalized and regulated pyramid scheme. They basically operate on the same premise but the only thing is, the business is registered and they pay taxes.
The reason why Maverick Fx or Maverick Trading is accused of being a scam or Ponzi scheme is because they have an expensive membership fee for their traders plus it has a monthly recurring fee and other fees on top of that. But is it fair for Maverick Trading to ask for such a high fee when traders are actually going to work for them?
The short answer is, most likely yes. Why? Let’s discuss it below
How Does The Maverick Fx Trading Work?
So according to their Membership Agreement, the initial payment that you’ll be giving them is considered as your Performance Bond and it could cost a minimum of $5000. This means that the money is still yours but any profits and losses that you may gain through your training and your work there is to be reconciled to that amount.
So this sounds to me like you’re lending Maverick Fx Trading a capital for a while as you prove your skill as a trader, and any profit gained from it, the firm gets a less than or equal to 30 percent of it.
Their Membership Agreement has been upfront with the fees needed to get into their firm which is the $7000 enrollment fee (minimum of $5000 as Performance bond) plus $199 monthly fees. Imagine that would be $2388 per year!
But due to nature of work and the likelihood of actually earning more through trading, it’s not impossible that traders can earn more. But imagine, you’re working for a firm and you pay them for letting you work for them…
How To Make Money With Maverick Fx
So you are either invited to be a trader or you apply to them. As long as you have the needed enrollment fee of $7000 then you’re set to be bound on their training and seminars.
Here’s a sneak peek of an experience of a Reddit user some 7 years ago:
Well hopefully their program and training could have become better by now, I mean come on, it’s been years now.
Is Maverick Fx Trading A Scam?
Just to be fully transparent with you, I am a trader or affiliated to Maverick Fx Trading and I do not endorse it in any way.
I have researched the website, testimonials, and information on the Internet to get to the bottom of what
Maverick Fx Trading genuinely does. This is because I have been burnt from unprofitable high-ticket programs I want to prevent others from making the same mistakes. If you’d like to learn Ways to Avoid Online Scams then click the highlighted text.As a third -party review, I find Maverick FX Trading a legitimate trading firm that offers trading lessons and experience to those willing to learn. But as I have said from the very start of this article, this trading firm experience is not just for anyone because it needs financial resources, dedication, discipline and motivation to hit quota.
Even their Glassdoor, Trustpilot and BBB reviews are being replied courteously and professionally… but of course there would be internal conflict that we may not know of…because here’s some tea from a Glassdoor review of a current employee:
To be fair, we can say that we can’t fully trust online reviews that we may see on business profiles because it can be easily faked. So it’s best to actually ask from people who have been inside the firm and is no longer affiliated with them to prevent any bias.
Brutal Truths about Maverick Fx Trading
- Even as you train with them they never really lose any resource because your performance bond will be reconciled with any losses that you may incur as you trade under their training program.
- They have a recurring $200 desk fee per month
- While you may learn a lot from their trainings, the enrollment is something that not everyone can outright afford.
Pros And Cons Of Maverick Fx Trading
Pros
- Is a legitimate and registered proprietary firm
- The company has been running for more than two decades now.
- You can learn a lot from their training
- You can earn a lot especially with additional capital that you’ll be given
Cons
- A recurring desk fee, $200 monthly
- High capital needed to get into the training ($7000)
- They profit from the capital lended by the trainee during their enrollment, nothing lost for them.
- Trainees may think that going under the training won’t really cost them anything, until their trading losses are reconciled on their bond.
Is Maverick Fx Trading a scam? Or is it a pyramid scheme?
No. Maverick Fx Trading is a legitimate business and it’s not a pyramid scheme. A legitimate firm can give one the opportunity to earn more profits. But I think it would be best if there was no capital sharing and an actual base salary and benefits.
Maverick Fx Trading review: Final Verdict
Maverick Fx Trading is a legitimate business, a proprietary firm to be exact. While they may require high fees to get into their training program it’s understandable especially as trading has its inherent risks.
A Better Way To Start A Home-Based Business
If you’re looking for a business opportunity where you won’t have the pressure of having a financial quota you should know trading for proprietary firms are not for you.
Trading has its great risks and it’s true that you may incur losses as part of you learning curve. So to think that trading is easy and a sustainable form of income would be underestimating the amount of emotional investment from losses that experienced traders have incurred through the years.
But what if you have a business that could help you earn year-round, and even years after one output? Yes that’s possible! As with every legitimate business opportunity, it would need hard work, dedication and time to learn the trade.
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I know a good community that can guide you towards learning about affiliate marketing. It’s even free to start so you can explore it first! Here’s a comprehensive review about it.
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Louee Gonzales has been writing for 4 years now and is a self-confessed coffee-powered content specialist. She enjoys creating valuable investigative articles for EFYL. If she’s not writing, she’s usually taking on small SEO and SMM projects, painting, reading a new book, or travelling somewhere fun.
She has a degree in Psychology, and quick fact: she can’t read your mind. She has authored articles on School of Positive Transformation.
This Blogpost is originally from 100% Brutally Honest Maverick FX Review [It’s not for Everyone]
source https://earnfromyourlaptop.com/maverick-fx-review/
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