Proprietary trading has always been attractive for clients with trading skills who don’t have the desired capital. They can use the money of a prop company and split the profit.
However, not every prop firm is legit. And our detailed Maven Trading review will show you why.
However, it would be nice to know more about the firm. From the registry, we found out that the business was set up in 2022. During the chat with employees, we got a response that the firm’s owner is “Chris Hunter, along with Seb and Jon.” To be fair, this response didn’t put us at ease. Giving nicknames of the alleged owners doesn’t evoke trust or make us believe we’ll get a payout.
In addition, the said employee told us that the only proof of legitimacy we would get is “Trustpilot reviews and Discord payouts.” Therefore, everything from A to Z stinks, and we advise you to avoid the Maven Trading scam.
Considering that Maven Trading support refers to Trustpilot as a source of legitimacy, we’re inclined to believe that these reviews are not so genuine. Especially after seeing that many of them are from customers who just started investing but didn’t yet withdraw their profit.
Maven Trading convinces investors that they operate from Canada. In addition, they say to cooperate with EightCap, a legitimate online trading brokerage that offers a trading platform.
As a prop firm, they offer funding from $5,000 to $200,000 for all those who pass the challenge stage. However, according to reviews, there are many hidden clauses preventing you from passing this stage. Instead, you need to pay for new participation over and over. The minimum fee is $45, but it’s unclear if there are any other costs.
Even if you pass the initial stage and start trading, the company can claim you violated the trading terms and close your account. Simply put, you won’t be able to get any money from them if they decide so.
However, we’re sure there’s more to it. Since everything in regards to this firm screams fraud, stay away. Also, ensure you read our reviews on Funded Trading Plus and Fidelcrest.
On its main page, Maven Trading mentions its own proprietary platform. Then, they say that all the trading is provided through the software of EightCap. It’s a legitimate company providing its traders with MT4 and MT5.
Since we cannot confirm which platform is actually on offer, at least not without paying to join the challenge stage, we won’t comment further. All in all, there’s something fishy about the Maven Trading login.
Once again, we have various discrepancies in the information. For instance, the company says to offer access to:
However, they provide a list of EightCap trading instruments, including shares and commodities. Hence, we don’t know what or how you can trade.
You can choose between 1-step and 2-step live accounts, with a profit target of 9% or 9% for the first step and 5% for the second one. The amount of money is as follows:
The fee depends on the chosen program, with 2-step one being with a lower fee. In addition, the daily drawdown with a 2-step program is 5%, while for a 1-step, it’s 4%.
Each of these brings you a chance to split the profit with the company 80-20, meaning that 80% of the earnings go to you.
The maximum leverage is advertised as 1:30, which complies with the European limit. The Forex trading has no spread and has a commission of $2.5 per lot or $5 per round. Other assets allegedly have low spreads and no commissions.
However, you can never be sure this will be true, especially considering that the company hides information about the owner and official address.
Suppose that everything is smooth and you manage to trade and earn profit. You can request a payout every 14 days, considering that the profit amount exceeds 1% of your trading amount.
The support team informed us that the payment options include the following:
However, they couldn’t share which bank handles the funds and whether they are segregated from their own. Therefore, we wouldn’t be surprised to hear you’re experiencing Maven Trading withdrawal issues.
If you have any trouble with the account or payout, you can report the case to the local authorities. Furthermore, you can contact your bank to try and reverse the transaction. Finally, you can get in touch with our Global Fraud Protection experts.
We have CipherTrace crypto analysts who can help you track and trace your digital coins and prepare a detailed report for the authorities. Furthermore, we can help you with evidence collection for the legal dispute.
Book your free consultation today, and don’t hesitate to share your story!
Maven Trading is a proprietary firm of an unknown owner. Since this is the case, you may experience payout issues, and we can help you deal with this matter.
Maven Trading is a proprietary trading firm giving investors money to trade with a profit split of 80/20.
The first thing is to look for legal documents and as many details as you can gather about the company’s legitimacy.
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