Maven Trading
3.3

Maven Trading

Maven is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

Maven Trading is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

Pros
  • A variety of funding options
  • Having access to coupons
  • Competitive cost structure
  • prompt payout mechanism
  • Authorization to trade news
  • Assistance with trading EAs (Expert Advisors)
  • Choice to Repurchase
  • Thriving and large-scale community network
Cons
  • Limited-equity options
  • Lack of guaranteed funding
  • Problems with Customer Support
  • Faced with Obstacles and Issues
  • Two-Step Evaluation Program

What is MavenTrading?

Maven Trading Prop Firm is a renowned financial institution that offers traders substantial funds to engage in many financial marketplaces. The company is well-respected in the finance industry. It stands out by providing traders with access to significant money, starting at $500k and potentially increasing to $1m depending on their performance.

Maven Trading stands out due to its remarkable flexibility and attention to the trader. Traders have the opportunity to trade without time limits, and the firm sets low-profit targets to accommodate both inexperienced and experienced traders.

Moreover, Maven’s distinctive balance-based drawdown system is noteworthy. This technology allows traders to control risks effectively, therefore minimizing potential losses. Maven Trading’s extensive portfolio includes stocks, options, futures, & FX, ensuring trading variety.

The company’s reliable dividends, a wide variety of tradable assets, and an active community of content traders solidify its reputation as a reputable option for anyone interested in proprietary trading enterprises.

logo of Maven

Maven Trading Funding Programs and Challenges: Rules and Requirements 

With the launch of its ground-breaking 2-Step Challenge, Maven Trading Group Ltd. is completely changing the proprietary trading industry. This challenge presents a novel strategy without strict time limits, with phase-wise profit targets of 5% and 9%, respectively, and a fixed maximum drawdown of 10%. Its daily balance-based drawdown, which is capped at 5%, and its leverage of up to 1:30, which promotes advantageous trading circumstances, add to its appeal.

With an alluring 80% profit share, bi-weekly withdrawals, and a low withdrawal threshold of just 1%, the company promotes trader-friendly terms. Though with some restrictions, traders also profit from the addition of news trading and EA trading.

Two-Step Task Accounts start at $5k and go up to $500k, with the $5k and $10k tiers being very attractive when compared to similar offerings in the market. A 25% account expansion is available to traders upon the receipt of five payouts at a minimum; the maximum drawdown is determined by the initial account amount. The new account size is used to recalculate the 5% daily drawdown.

Overall, with its alluring profit targets, advantageous trading circumstances, and trader-friendly terms, Maven Trading’s 2-Step Challenge is a potential new proprietary trading strategy.

What are Forex Prop Challenges?

Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific period.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

  • Profit targets: A predetermined proportion of the account balance that traders must meet.
  • Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.
  • Minimum trading days: The number of active trading days required throughout the challenge period.
  • Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

Maven Trading Broker: Do They Use a Reliable Platform? 

The main page of Maven Trading showcases its unique platform, with a mention of trading being conducted through EightCap’s software. EightCap is a respected company that provides traders with access to both the MT4 and MT5 platforms.

Without direct confirmation or access to the challenge stage, we cannot determine the platform that is accessible. Hence, we will not provide any additional comments on Maven Trading’s login process due to the existing uncertainty.

Maven Trading Fees: How Much Do They Charge? 

In addition to its funded trader program and training resources, Maven Trading Prop Firm offers a variety of trading platforms powered by EightCap, along with tools to assist traders in executing trades and analyzing the market. The resources include state-of-the-art trading software, real-time market data streams, & advanced charting and evaluation tools.

Maven Trading Prop Trading provides traders with a comprehensive array of services to support their achievement in financial markets. Maven Prop Firm stands out as a top choice for traders looking to enhance their trading efforts due to its innovative trading tactics and commitment to providing traders with the necessary tools.

A variety of account options are offered by Maven Trading to accommodate the various needs of traders. The initiative provides financing at varying levels, ranging from $5,000 to $500,000. Depending on their trading objectives and tactics, traders can select the funding amount that best suits them. The fees associated with each account choice vary depending on the selected financing level and begin at $45 in each case.

Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:

1. Challenge Fees

These are upfront fees traders pay to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided for the challenge, and the complexity of the challenge itself.

2. Account Setup or Administration Fees

Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.

3. Monthly Desk Fees

Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.

4. Profit Split

While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. It’s essential to understand the profit split terms as they directly affect the trader’s potential earnings.

5. Software or Data Fees

In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.

6. Education or Training Fees

Some prop firms also offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.

Key Considerations

  • Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.
  • Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.
  • Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.

Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.

Maven Trading Proof of Payment:

If the trader’s trading goes smoothly and they make a profit, then they can request a dividend every 14 days as long as their profit exceeds 1% of the trading capital.

The support team stated that payment alternatives include wire transfers and crypto wallets. However, they could not reveal the banking organization in charge of fund management or confirm if this money is kept separate from their own. Therefore, experiencing withdrawal problems with Maven Trading should be expected.

Maven Trading Customer Support: 

Effective customer service is essential for traders as it helps resolve technical issues and offers guidance on funded accounts and regulatory challenges. Maven Trading offers a 24/7 online live chat service that is most active on weekdays and less responsive on weekends. Traders can also choose to participate in Maven Trading’s Discord channel. Maven Trading’s customer service is praiseworthy. Although the prop company is dedicated to offering strong customer assistance, the actual specifics of its support programs are ambiguous. Therefore, individuals looking for comprehensive assistance and instruction on the platform may consider their support team to be unreliable.

What Makes Maven Trading Unique? 

Maven Trading is a prominent trading company that provides a distinctive “funded trader” program tailored for professional traders. We created two separate evaluation exams, the 1-Step and 2-Step Challenges, to examine traders before giving them access to a simulated “funded” account.

Our platform offers traders narrow spreads and quick execution, allowing them to confidently carry out simulated trades under authentic market conditions. Our exclusive trading platform offers a diverse selection of virtual tradable pairs to accommodate traders of all levels of experience. Access more than 400 virtual assets, such as FX majors, minors, and equities, on simulated accounts provided by Maven Trading.

Maven Reviews: What Do Their Customers Say?

Maven Trading has a rating of around 4.8 out of 5 on Trustpilot, with feedback from 910 customers.  

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#1. Yasaswisrisai Tripuraneni believes that Maven Trading is an exceptional proprietary trading firm in the sector, offering unparalleled support. Talented traders have the opportunity to showcase their talents and secure funding.

Talented and skilled traders are recognized and respected here for their expertise. They receive the best spreads in the industry and are paid out within an hour. Every skilled trader should consider trying Maven Trading to receive funding. Maven Trading is considered one of the top proprietary trading firms.

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#2. According to Mande Enock Luteyi, excellent customer service is provided through their Discord platform, with reimbursements processed within 24 hours or less. One problem is the absence of direct bank transfers to certain nations, which he believes is a crucial service for the firm.

#3. Uche Chiemezie Richard has rated Maven Trading with 3 stars. He appreciates the courteous and understanding customer service. He recently purchased an account and plans to begin trading soon, looking forward to a seamless and pleasant trading experience, especially regarding spreads when he gets funded and makes withdrawals. He will return here and accomplish the remaining five tasks. Thank you very much, @Mikasa, for guiding him. 

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#4. MAKEMONEYWITHBETTING expressed that this has been a dreadful experience. Among several outstanding proprietary trading organizations, Maven Trading has proven to be the most challenging to work with. He asked for a demo account to verify the compatibility of his Expert Advisor with the platform. Were these demos simply intended for evaluating spreads?

However, after purchasing a challenge, it was discovered that none of his robots functioned. His other accounts on other platforms are functioning properly, except for Maven Trading. Reached out to customer service to request a refund due to inactivity on the account, but was informed that refunds are not granted. The response ended with a casual “Good luck.” Resembling an East End Barrow Boy.

Before buying, he carefully reviewed all the terms and it appears that the individual deemuazu believes this service is satisfactory. His suggestion is to choose a reputable company and disregard these incompetent individuals. Extremely dissatisfied.

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Conclusion

Maven Trading Group Ltd is a unique and appealing choice in the proprietary trading industry. Their innovative challenge program offers traders a distinct opportunity to demonstrate their trading abilities without putting their funds at risk.

Their trading platform is comprehensive, catering to various methods and providing flexibility by allowing profit targets and drawdowns to be leveraged. Maven Trading’s clear principles, including immediate account reset and backing for news trading and EA trading, establish a nurturing trading atmosphere ideal for traders at any skill level.

Furthermore, the company’s emphasis on substantial payouts and exceptional trader support greatly improves the whole trading experience.

Account size up to:
$200,000
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4.0
Fees
3.0
Trading Platforms
3.0
Deposit and Withdrawal
3.0
Customer Support
3.3 Overall Rating

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Maven Trading
3.3/5
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