Maven
OVERVIEW
Maven is a prop trading firm headquartered in Canada, under the leadership of CEO Hunter. The firm, established less than a year ago, offers trading opportunities on the MT4 and MT5 platforms, with Purple Trading Seychelles as its broker. Maven provides a range of account sizes from $2,000 to $200,000. This spectrum caters to both beginners and more experienced traders, offering various levels of capital involvement. The firm’s evaluation process is organized into two distinct stages: 1 Step and 2 Step evaluations. The profit targets at Maven are 8% for the Step 1 evaluation and targets of 8% for Phase 1 and 5% for Phase 2 are set for the 2 Step evaluation. The maximum total drawdown varies between 5% and 10%, depending on the specific challenge. The firm offers a leverage of 30:1 across all instruments. Maven offers trading on major financial instruments like EURUSD and GBPUSD pairs the forex market, XAUUSD (Gold/US Dollar) for commodities, and US30 (Dow Jones Industrial Average) and UK100 (FTSE 100) for Indices, accommodating a range of trading strategies.
The scaling process at Maven operates on a dual front, addressing both daily drawdown (DD) limits and additional capital infusion. In the context of daily drawdown, unlike traditional methods, Maven scales the daily drawdown rules by 5% of the current account balance, not the starting balance. This adjustment ensures that as the account expands, the daily drawdown limit proportionally increases. Although the daily drawdown adapts to the account balance, the maximum drawdown remains fixed at -10%, calculated from the starting balance and remains constant over time. Moreover, Maven extends the scaling opportunity by providing the option for traders to add additional funds into their accounts. To be eligible for scaling, traders must demonstrate a sustained period of profitability, measured through a minimum of five successful pay-outs. The scaling process involving additional funds is not automatic, as traders need to initiate the request manually.