Frequently Asked Questions
1 . How do I get started as an Independent Trader?
To become a Maverick FX Trader, you must satisfactorily complete the following requirements:
- The Maverick FX Training Program: Our training program offers up to 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 our classes and offer them for view on our website. We have over 300 videos of pre-recorded content for “on demand” viewing.
- Pass the Maverick FX verification program: Since you will be trading with our 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. Our traders will have unlimited access to the tests and may take the test as many times as desired.
- 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 provided 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?
No. You are not being hired in the traditional sense with benefits and a salary. When you complete the requirements provided by Maverick FX, you will be offered the choice to buy into the firm and trade on the firm’s behalf and have the opportunity to earn a living from trading the markets. You will be compensated based on your performance as an member/partner of the firm and earnings will be paid out via K-1. Refer to our Trader Advancement Tables for 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 next few months, your responsibility will be to learn how to control and manage risk in the forex markets. Since you will be trading with the firm’s money, we want to make sure you have a firm understanding of risk management and position sizing principles. Other than that, you responsibility will be to make as much profit as possible. Remember, with the payout splits, the more money you make, the more money we make.
4. Do I need to have any capital of my own?
Since this is a partnership, you will be required to buy in as a member of the firm that gives you a certain percentage of ownership in the firm. This equity helps us protect our firm’s account from traders who do not have a proven track record with us and therefore have limited control over. The minimum amount to buy into the LLC and trade on behalf of the firm is $2,000. This will be your beginning equity in the firm and will increase or decrease with your trading performance. For example, if you have a beginning ownership equity of $10,000 and you profit $3,000 that month (after profit split with the firm), you will have $13,000 of equity in the firm at the end of the month. As you progress through our system and achieve higher trading levels and equity, your ownership percentage in the firm will grow, leading to larger earnings potential.
5. When can I withdraw a part or all of my profits?
Monthly trading profit checks are dispersed on the 5th of the month following the one in which they were generated. As an example, profits earned during the month of January would be paid no later than the 5th of February. Or, a trader can leave their profits in the firm to have access to even more trading capital.
6. 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, the trader, through performance, earns greater and greater exposure. 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. 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.
7. I love the program being offered at 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 of all, their growth and development as professional traders happen in smaller, more digestible periods. Secondly, 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.
8. 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 we have people who know what they are doing to minimize our risk. All Maverick FX Traders are required to fulfill the requirements. The qualification requirements 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.
9. Is there any cap or limit on my trading profits?
Absolutely not! Our traders are free to make as much profits for themselves and the firm as profitable. 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.