Maverick Currencies Review: Facts To Consider Prior To Applying

Considering that this company is allegedly based in Salt Lake City, Utah, it has little in the way of transparency when it comes to how they operate. What looks like a prop firm will quickly reveal plentiful evidence that points towards it being an online financial scam.

Your capital is never safe with these entities, no matter how affordable the services are advertised to be. Learn more about Proprietary trading in our Maverick Currencies review.

Who is Behind the Firm?

Although not obligated to be regulated by the law, Maverick Currencies prop firm has to be legally incorporated companies with a transparent offer of services and their firm history. However, many concerns arise based on the vague website information and insufficient corporate data. 

When we attempted to establish who is behind this conduct, we looked in several registers based on the alleged address. SEC (US Securities and Exchange Commission) search as well as our inquiry with the National Corporation Directory. You see, there are several similarly named companies but none of them is registered in Salt Lake City, Utah. 

The business itself claims to be started in 1997, as a trading firm that takes in beginners then educates and funds them to become skilled investors. Still, as attractive as their offer may seem, they don’t show more transparency than common blacklisted financial services providers like ThreeTrader.

What is the “Maverick Way”

It is described as a high probability and low risk trading strategy that the company has developed exclusively for their traders to use. While over the years various prominent firms have created different tactics like scalping, hedging or short selling, the potential to improve has pretty much dried up.

What’s more confusing about the “Maverick Way” of trading is in the way they employ it. The firm urges their traders to use the method, and hope that in time it will turn profitable thanks to the statistics.

In order to begin trading in this matter, applicants need to prove that they understand how the strategy works by passing a series of tests and quizzes.

How do they learn this esoteric knowledge? By purchasing the company’s own publication on Amazon, of course! It’s all quite reminiscent of various Pyramid schemes we’ve already seen before.

Social Networks Are Buzzing

It’s no secret that this prop trading firm owns multiple profiles on Facebook, X and LinkedIn which advertise their services.

There’s quite a few Maverick Currencies Reddit discussions as well, yet most of them view the company with suspicion. Users of this site present good arguments as to why this entity should not be trusted, so head over there if you need additional info.

We’ve noticed a TrustPilot page with a large number of positive reviews. A good portion of illicit companies employ so-called review seller networks to boost their reputation, however. One of the key things to consider here is that other platforms like SiteJabber don’t have any comments on the firm.

Application Process

Signing up for this educational portal and a prop firm in one isn’t such an easy process. You’re forced to reveal some sensitive personal data and then you have to sit through the videos if you wish to advance your application.

In a way, it is understandable that the company wishes to clarify what their mission and goals are, as well as their expectations from newcomers. However, does it really have to be shoved down the throat of every potential customer? 

We believe not. For all we know, these introductory videos could even be harmful, considering that they’re highly suggestive and mostly just promote the company. 

After the videos comes the interview booking that should reveal more information about the testing process itself. The website only states that there’s a bunch of quizzes you have to ace in order to be considered for a Maverick Currencies funded account with $800,000 and at least 70% split profit.

Trading Costs and Other Expenses

Maverick Currencies trading conditions are yet another aspect which the company remains secretive about. It appears that the funding demands are put forward only for those that are determined to apply and invest ridiculous amounts of money. 

Based on our research of what customers are experiencing, the firm requires anywhere from $5,000 to $12,000 to be paid up front as risk capital. 

Then, there’s a series of payments they are asked to make that also include thousands of dollars as a lifetime membership fee. 

Monthly fee is, of course, mandatory, and it isn’t exactly equal to the previously mentioned sums but it requires hundreds of dollars on a monthly level.

Other companies that don’t need regulation but display honesty have no reason to hide the pricing plans. Traders Connect is one example of that. 

Trading Platform and Products Available

There’s no way of testing the trading platform unless you pass an application process and cough up at least $5,000. That’s the first source of worry. 

The other concerning sign of severe lack of transparency is the fact that nowhere does the website discuss the availability of products and access to markets. 

Another circumstance we found disturbing is that we do not even get to see what brokerage brands the firm is associated with. 

Since prop firms have to team up with regulated brokers that provide trading servers, this business should also clarify who the customers are signing up with. None of that is revealed to website visitors.

Final Impressions and Advice

In order to attract more people and instill trust, this firm still has a long way to go. However, judging from the honest feedback that comes from real experiences and not bought reviews, it doesn’t look like the company’s intentions are genuine.

That’s why we’d like you to consider the possibility of funded trading with our firm. We’re fully transparent with anything you wish to know about our conditions, tools and other details. You can book your zoom consultation and quickly get funded with up to $180,000!

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