Frequently Asked Questions
1 . How do I get started as a Trader?
To become a Maverick FX Trader, you must satisfactorily complete the following requirements:
- Complete the Maverick FX Training Program: Our training program offers up to five (5) live classes every week, from the beginning Forex 101 class to the high-powered FX Master class. All of our instructors are seasoned instructors and teach the Maverick FX Trading methodology. Since we know everyone has other commitments, we record all of our classes and offer them for view on our website. We have over 300 videos of prerecorded content for “on demand” viewing.
- Pass the Maverick FX Verification Program: Since you may be trading with firm capital, we have a program to assure us of each trader’s understanding of the forex market in general. Each trader will need to pass a series of tests demonstrating understanding of position sizing, risk management techniques, order entry, and profit targets. As one of our traders, you will have unlimited access to the tests and may take the test as many times as desired.
- Submit a Proven Track Record: Each trader must demonstrate that he/she can implement the risk management strategies learned in the Maverick FX training program. Upon joining the firm, each trader will be given a demo account and trading activity will be reviewed by management. Management will look for a minimum number of profitable trades, risk vs. reward ratios, capital allocation, etc. Each trader must have management approval before accessing the firm’s capital.
2. Is Maverick FX Trading hiring me?
When you complete the requirements provided by Maverick FX, you will be offered the choice to trade on the firm’s behalf as an independent contractor and have the opportunity to earn a living from trading the markets. You will be compensated based on your performance as an independent contractor of the firm and earnings will be paid out via IRS Tax Form 1099 based on our Trader Consulting Agreement. Refer to our Trader Advancement Tables for the payout rates.
3. What will my responsibilities be as a trader for Maverick FX Trading
Your only duty will be to trade. Maverick FX Trading students will be taught several proven methods with position-sizing and management strategies. Over the course of the first few months, your responsibility will be to learn how to control and manage risk in the forex markets. Since you may be trading with the firm’s money, we want to make sure that you have a firm understanding of risk management and position-sizing principles. Other than that, your responsibility will be to make as much profit as possible. Remember, with the payout splits, the more money that you make, the more money that we make. It’s a “win-win” relationship!
4. When can I withdraw a part or all of my profits?
Upon trader request, monthly trading profit checks are dispersed on the 5th of each month following the month in which the profits were generated. For example, profits earned during the month of January would be paid no later than the 5th of February. So, if a trader generates a $3,000 profit for the firm and has a 70% profit split agreement, then he/she would receive a disbursement of $2,100.
5. Can I request additional buying power as a Maverick FX Trader?
Yes. However, this increase will always be granted based on your trading performance. In our program, traders earn greater and greater exposure through performance. As most traders know, the bigger the buying power, the bigger the potential profits. This extra potential is earned via “consistency” more than anything else. In the professional trading world, consistency is king. Consistency married with low draw-downs and/or small account swings is the goal. Traders who can produce results will be allocated the use of more of the firm’s capital, allowing greater buying power. Level advancement will be made by additional education requirements and management approval.
6. I love the opportunity to trade for a firm like Maverick FX Trading, but I can’t trade full-time at the moment. Can I become a part-time Trader?
Yes. Part-time traders often grow into some of our best traders. First, their growth and development as professional traders happen in smaller, more digestible periods. Second, the lessons learned are steady and the part-time nature of their trading reduces the risk of being overloaded and overwhelmed with too much at one time. Some of our best full-time traders today began as part-timer traders first.
7. Is training required to be able to trade with Maverick FX Trading’s capital?
Yes. Since it is our money, we want to make sure that we have people who know what they are doing to minimize our risk. All Maverick FX Traders are required to fulfill the qualification requirements, which are stated above in question number one. Experienced traders with years of experience and proven track records can contact management directly and apply to have access to trade the firm’s capital without the education requirement. These decisions are the made by the sole authority of management.
8. Is there any cap or limit on my trading profits?
Absolutely not! Our traders are free to make as much profit for themselves and the firm as possible. Each trader will have a profit-sharing agreement with the firm that will be based upon that trader’s equity in the company and the individual trader’s performance track record. We do not limit or cap your income potential and encourage each trader to achieve the highest level of success possible.