The Good and Bad about SurgeTrader
Numerous legendary companies have their roots in humble beginnings, such as basements or garages. SurgeTrader’s inception tale follows this tradition, commencing with a conversation held in a Naples sushi restaurant. The discussion involved an FX broker, an institutional trader, and a venture capitalist.
Pros
- Excellent Trustpilot rating of 4.7/5
- No Maximum Trading Period with One-phase & Two-phase Audition
- Available multiple add-ons upon purchase
- No Minimum Trading Day Requirements
- Scaling Plan (Except Lightning Audition)
- Overnight & Weekend Holding Allowed
- Three Unique Funding Programs
- Profit Share 75% up to 90%
- Up to $1,000,000 capital
- News Trading Allowed
- Leverage up to 1:50
- A Large Variety of Trading Instruments (Forex Pairs, Commodities, Indices, Stocks, Cryptocurrencies)
Cons
- Low Leverage with One-phase & Lightning Audition
- Mandatory Stop-loss (Removable with Add-on)
- Two-phase Audition has Equity-based Drawdown
- Lot Size Limit (1 Lot per $10,000 of Trading Capital)
- Trailing Drawdown on One-phase & Lightning Audition
SurgeTrader actively supports its traders in achieving success in their careers, facilitating the opportunity to maximize their trading profits. To secure funding, traders must undergo an audition, showcasing their trading skills and discipline. Upon successful auditions, traders receive an impressive profit split ranging from 75% to 90% on their future payouts.
Who Is SurgeTrader?
SurgeTrader is a proprietary trading firm situated in Florida, United States. They provide driven traders with funding opportunities of up to $1,000,000, featuring profit splits ranging from 75% to 90%. SurgeTrader has established a technological partnership with ThinkMarkets, a premium online brokerage offering a variety of assets, with headquarters located in London and Melbourne.
SurgeTrader was officially incorporated in Delaware in August 2021 and in Florida in September 2021.
SurgeTrader’s physical offices are situated at 405 5th Avenue South, Naples, Florida 34102.
Video Review
Funding Program Accounts
SurgeTrader provides its traders with a one-step evaluation program featuring six distinct account sizes.
Evaluation Program Accounts
SurgeTrader’s evaluation program is designed to identify committed traders and provide them with the opportunity to enhance their trading profits. These traders are rewarded for their consistency during a one-phase evaluation period. In this evaluation program, traders can utilize leverage of up to 1:20.
During the evaluation phase, traders are expected to achieve a profit target of 10% while ensuring they do not exceed the 5% maximum daily loss or 6% maximum trailing drawdown limits. There are no specific requirements for the minimum or maximum number of trading days in your evaluation account. The sole condition for progressing to a funded account is achieving the profit target.
Upon successful completion of the evaluation phase, traders receive a funded account with no profit targets. They are only obligated to adhere to the 5% maximum daily loss and 6% maximum trailing drawdown rules. Traders can request their initial profit split of 75% or 90% on the first day if they are in profit. Subsequent payouts can be requested at 30-day intervals.
Evaluation Program Accounts Scaling Plan
To be eligible for scaling, you must achieve a 10% profit based on your initial account balance. It’s important to note that scaling is available up to $1,000,000, and if you choose to scale your account, you will not be eligible for a profit split.
The scaling plan for the evaluation programs is outlined below:
Account Size
Profit Target
Scaled Account Size
$25,000
10%
$50,000
$50,000
10%
$100,000
$100,000
10%
$250,000
$250,000
10%
$500,000
$500,000
10%
$1,000,000
Evaluation Program Accounts Rules
- Profit Target: Traders must achieve a profit target of 10% before completing an evaluation phase, withdrawing profits, or scaling their account. Funded accounts do not have profit targets.
- Maximum Daily Loss: The maximum daily loss for all account sizes is limited to 5%. Traders should not exceed this daily loss limit.
- Maximum Trailing Drawdown: The maximum trailing drawdown is defined as the difference between the highest account balance achieved and the maximum drawdown. This drawdown should not exceed 6% for all account sizes.
- Stop-Loss Required: Traders are required to set a stop-loss on every position before opening a trade.
- Lot Size Limit: Lot sizes for specific trading instruments are determined based on the initial account balance of the prop firm account. The maximum lots a trader can open across all pairs at any given time depend on their account size:
- $25,000 – 2.5 lots
- $50,000 – 5 lots
- $100,000 – 10 lots
- $250,000 – 25 lots
- $500,000 – 50 lots
- 1,000,000 – 100 lots
- The concept of “third-party copy trading risk” involves recognizing that when you utilize copy trading services provided by external parties, there’s a possibility that multiple traders are employing the same trading strategy through this service. Engaging in third-party copy trading exposes you to the potential risk of being disqualified from receiving a funded account or making a withdrawal if your total trading capital allocation surpasses the predefined maximum limit.
- Similarly, “third-party EA risk” pertains to the usage of third-party Expert Advisors (EAs). When you employ a third-party EA, it’s important to be aware that other traders may also be utilizing the exact same trading strategy through this EA. Consequently, using a third-party EA may entail the risk of being ineligible for a funded account or withdrawal if your total allocated capital exceeds the established maximum threshold.
Evaluation Program Details
- No stop-loss required: Available for a 10% prices increase when purchasing your evaluation account.
- Double leverage: This option will double the leverage for forex pairs and metals, and it comes with a 25% price increase when purchasing your evaluation account.
- 90% profit split: Opt for a 10% prices increase when purchasing your evaluation account to enjoy a 90% profit split.
Remember, you have the flexibility to select one or multiple add-on options based on your individual preferences and trading strategy.
SurgeTrader’s Differentiation
SurgeTrader distinguishes itself from many industry-leading prop trading firms by providing traders with a high degree of flexibility in their trading style. There are no strict minimum or maximum trading day requirements, and traders can engage in trading during news events, hold positions overnight, and even trade over the weekend.
In comparison to some other prop firms, SurgeTrader offers a one-phase evaluation program. Traders must achieve a profit target of 10% within this single phase to become eligible for payouts. This program also comes with specific risk management rules, including a 5% maximum daily loss, a 6% maximum trailing drawdown, mandatory stop-loss usage, and lot size limits. Notably, there are no strict requirements for the number of trading days. Additionally, SurgeTrader provides a scaling plan for evaluation program accounts.
In summary, SurgeTrader’s unique selling points include its flexible trading style approach, absence of stringent trading day requirements, and a one-phase evaluation program with specific risk management rules. These factors make SurgeTrader an attractive option for traders seeking more trading freedom and opportunities for growth.
Is getting SurgeTrader capital realistic?
When evaluating prop trading firms for your forex trading journey, it’s crucial to assess the attainability of their trading requirements. While an enticing profit split on a generously funded account may seem appealing, impractical trading demands can significantly hinder your success.
SurgeTrader offers a realistic path to securing capital, particularly through their evaluation program accounts. These accounts feature a reasonable 10% profit target, coupled with moderate maximum loss rules (5% maximum daily loss and 6% maximum trailing drawdown).
Considering these factors, SurgeTrader presents a viable option for traders seeking funding, thanks to its reasonable trading objectives and conditions for receiving payouts.
Payment and Withdrawal Process
SurgeTraders is a proprietary trading firm established in June 2021 and formally registered on September 3rd.
SurgeTraders can request their initial withdrawals at any time, but subsequent withdrawals should not occur more frequently than once every 30 days. Traders are eligible for profit splits of either 75% or 90% if they have purchased the appropriate account add-on. Upon a withdrawal request, SurgeTrader also deducts its share of the profits, resulting in an adjustment of the trader’s equity by the withdrawn amount.
For payment verification and proof, you can refer to SurgeTrader’s Instagram account, where they frequently post payout certificates as evidence of successful withdrawals by their traders. Below are three examples of such payout certificates.
SurgeTrader Traders Feedback
Traders’ Reviews of SurgeTrader
On Trustpilot, SurgeTrader has garnered extensive feedback from its community, featuring numerous positive comments and earning an impressive score of 4.6/5 based on 794 reviews.
SurgeTrader community consistently praises their responsive and helpful customer support. Additionally, users appreciate the simplicity of the dashboard, which offers clear guidance on the few rules that traders must adhere to in their trading strategies. This straightforward approach ensures traders are well-informed about what is permitted within their trading activities.
SurgeTrader’s Social Media Presence
SurgeTrader maintains an active presence on various social media platforms:
- LinkedIn: They have a LinkedIn page with a substantial following.
- Facebook: SurgeTrader boasts a Facebook page with numerous followers.
- Twitter: Their Twitter account has garnered a significant following.
- Instagram: SurgeTrader maintains an Instagram profile with a substantial number of followers.
- YouTube: Their YouTube channel features a multitude of videos and subscribers.
- Discord: Traders can join SurgeTrader’s Discord channel to engage with the community.
Support
SurgeTrader offers comprehensive customer support services:
- FAQ Page: SurgeTrader provides an FAQ page with detailed information about their services.
- Email Support: You can contact their support team via email at support@surgetrader.com.
- Live Chat: SurgeTrader has a live chat support system that is operational nearly 24/7.
- Phone Support: You can reach SurgeTrader’s support team through the following telephone numbers:
- Toll-free: 866-998-7652
- Direct: 239-944-5317
- Discord: You can also connect with their support team through their Discord channel for prompt assistance with any inquiries.
SurgeTrader strives to provide accessible and helpful support to its traders.
Conclusion
In summary, SurgeTrader stands as a reputable proprietary trading firm that presents traders with various options when it comes to choosing evaluation program account sizes.
Their evaluation programs consist of a single-phase challenge, where traders must successfully complete one phase to secure funding and become eligible for profit sharing. SurgeTrader sets a reasonable profit target of 10% for traders, considering the 5% maximum daily loss and 6% maximum trailing drawdown rules in place. These objectives are well within reach. By participating in the evaluation programs, traders have the opportunity to earn profit splits ranging from 75% to 90% while also having the flexibility to scale their accounts.
I would wholeheartedly recommend SurgeTrader to those seeking a prop firm that adheres to clear and uncomplicated trading rules. Despite being relatively new in the industry, SurgeTrader offers favorable conditions for a diverse range of traders with unique trading styles. Upon thorough consideration of all that SurgeTrader provides, it’s evident that they are positioned among the leading prop firms in the field.
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