If you have been spending time in trading circles lately, chances are that you have heard of Maven Trading. It’s one of the many prop trading firms that have been emerging in the market. Just like all authentic prop firms, Maven Trading also offers traders a chance to earn profits without compromising their own savings. But what sets it apart, and how does it work? Let’s break it down and find out if you should bother taking their challenge.
What Is Maven Trading?
Maven Trading is a proprietary trading firm, or a prop firm in short, that gives traders access to large capital. Instead of trading with your own funds, you take on a simulated challenge to prove that you’ve got the skills and discipline that they’re looking for. If you pass, Maven gives you access to a funded account so you can start trading their money. They will also keep a portion of the profits.
How Does Maven Trading Work?
Maven’s model is pretty straightforward. But like any serious prop firm, it’s based on rules, targets, and risk management. Here’s how the process usually goes.
Choose a Challenge Tier
Maven offers multiple account sizes depending on your risk appetite, strategy, and confidence. The challenge usually comes with a profit target, ranging from 3% to 8%, an overall drawdown limit, and daily drawdown. You pay an entry fee for the prop firm challenge, which also depends on the account size, the type of challenge you pick, and the type of account you choose. This fee may be non-refundable if you fail, but it’s usually credited back once you pass and are funded.
Take the Challenge
This is where the real test starts. Passing the challenge means you have to hit the profit target without breaking the risk rules. Depending on what you choose, you will have to go through one to three phases.
To pass, make sure you stick to smart risk management and show consistency. Avoid revenge trading or emotional trading and make sure to stay calm under pressure. The challenge doesn’t require you to hit big wins. Just focus on proving that you are someone who can manage money responsibly. That is what Maven Trading is looking for – traders who want to stay in the game for the long run, and those who don’t rely on luck.
Get a Funded Account
Now, if you choose the instant account option, the previous step won’t apply. But if you choose the challenge and pass, you then become a funded trader with Maven.
You will get access to a real trading account with leverage and start earning a share of your profits. Maven offers 80% of the profit to you in all tiers. So, you get to keep most of what you make, along with zero capital risk on your end.
You also won’t be left on your own. Maven also allows you to choose trading platforms like MetaTrader 5, Match-Trader, and cTrader. These come with dashboard tools, performance analytics, and other specifics.
Follow the Rules and Get Paid
Being funded doesn’t mean you can now do whatever. You still need to follow Maven’s trading rules, so make sure you read everything thoroughly. Maven is pretty flexible with their rules compared to other firms. One example is that they have no restrictions on minimum or maximum trading days and they pay their traders every 10 business days.
Conclusion
If you are looking to join a prop firm, Maven Trading may be a great choice for you. Look into their reviews with other traders to get a sense if you should join. Prepare for the prop firm challenge and their rules, and earn the potential of making an 80/20 profit split.