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SurgeTrader, a new-age proprietary trading firm, was established in May 2021 by seasoned Forex trading veterans under Surge Capital Ventures, LLC.
Based in Florida, the United States, this firm has seen monumental growth, attracting institutional traders globally due to its unique offerings and simplicity of rules. For a detailed review, check here
Learn More About SurgeTrader
Transparent Prop Firms with SurgeTrader
Transparency and simplicity in trading rules make SurgeTrader stand out among other prop firms. There’s no need to wade through complex rules to manage their capital.
The evaluation process for entry is straightforward and far less demanding than many competitor firms, making the firm an attractive proposition for experienced and novice traders.
Unlike many other prop firms, SurgeTrader imposes no restrictions on trading strategies. Whether you prefer hedging strategies, automatic or algorithmic trading, or trading with fundamental analysis, the prop firm allows you to manage your funds using any trading style.
SurgeTrader Evaluation Program and Evaluation Phase
The company’s evaluation program is as user-friendly as it gets. It allows traders to manage up to $1,000,000 of capital with a generous profit split system.
The evaluation phase is simple and not as drawn out as some prop firms. The firm also offers Surgetrader Auditions to assess the potential of the traders.
If you’re a trader seeking a reliable and lucrative prop trading firm, SurgeTrader might be your solution. With a favorable profit split and flexible trading conditions, it has earned a reputation as an attractive platform for novice and experienced traders.
Trading Conditions With Surge Trader
The trading conditions with SurgeTrader are designed to promote a safe and effective trading environment. It provides traders with a straightforward set of rules that are easy to understand and follow.
It imposes a daily loss limit of 5% and a maximum trailing drawdown of 8%, which ensures risk management and protection of the firm’s capital. You must also place a stop-loss on every trade you make.
One-Step Evaluation Process
Unlike other proprietary trading firms with a two-step audition process, SurgeTrader provides a simple, one-step evaluation process.
You only have to demonstrate that you can earn more than 10% of your total account balance without any maximum trading days requirement or the need for a certain number of individual trades.
This eases the audition process, allowing skilled traders to show their expertise without unnecessary hurdles.
Available Financial Instruments
Traders on SurgeTrader have access to more than 350 financial instruments, including Forex pairs, metals such as gold and silver, indices like S&P 500, DAX 30, FTSE 100, and individual stocks from over 90 companies, including Netflix, Amazon, Apple, and Coca-Cola.
Furthermore, it offers access to over 200 cryptocurrencies, including popular ones like BTC, ETH, ADA, and XRP, making it an ideal prop firm for crypto enthusiasts.
Trading Tools And Leverage
SurgeTrader offers its clients the use of MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms in the industry. These platforms come with various trading tools that can enhance the trading experience.
The leverage offered by SurgeTrader is not as high as some other firms, with the maximum set at 10:1 for Forex, metals, oils, and indices, 5:1 for stocks, and 2:1 for cryptocurrencies.
While some may view this as a downside, it can act as a deterrent against excessive risk-taking and promote responsible trading.
Trading Accounts And Fees
SurgeTrader offers six different trading account packages, with account balances ranging from $25,000 to $1,000,000 and corresponding audition fees. The fees are a one-off payment, not a recurring monthly charge.
Whether you pass or fail the audition, you will never lose more than the cost of the audition, as the company covers any losses generated in the live-funded trading account.
Profit Payouts And Excellent Customer Service
Regarding profit payouts, SurgeTrader has a fast processing time with no minimum payout amount set, allowing traders to request their profits at any time once a month. The firm also provides excellent customer service, ensuring issues or inquiries are dealt with promptly and effectively.
Pros of SurgeTrader
SurgeTrader stands out in the financial services landscape with several unique selling points.
- The profit-sharing arrangement, which allocates 75-90% of the profits to the trader, is highly beneficial for traders, particularly talented ones with the skills to generate substantial profits.
- The range of account options from $25,000 to $1,000,000 allows traders to select a package that fits their financial standing and risk tolerance.
- The one-time fee associated with the audition process sets it apart from the recurring monthly subscription fees common with other trading platforms.
- The audition process is simple, clear, and transparent, with only one step to qualify. This streamlining may prove more convenient for traders compared to other proprietary firms.
- Not imposing a minimum number of trading days is another significant advantage. This allows traders flexibility to meet their profit targets without time constraints.
- The platform doesn’t restrict trading strategies, making it suitable for all types of traders, including those interested in social trading/copy trading.
- With SurgeTrader, withdrawals are quick and efficient, with no restrictions on the minimum or maximum amounts, enhancing the convenience for traders.
Cons Of SurgeTrader
While SurgeTrader offers numerous advantages, it also has certain limitations. Being a relatively new player in the field, with its operations starting only in May 2021, its short track record might concern some traders.
- The requirement of a stop-loss setup for each trade, capping the daily loss to 5% of the account balance, could be restrictive for certain trading strategies.
- The cap on maximum open lots, set at 1/10000 of your account size, might limit traders with a more aggressive trading approach.
- The leverage levels provided by SurgeTrader are comparatively low (10:1 for Forex, Metals, Indices, and Oils; 5:1 for stocks; and 2:1 for crypto); these might not be appealing for traders who prefer high leverage.
Comparing SurgeTrader With Other Prop Trading Firms
SurgeTrader’s unique one-step audition process sets it apart from other proprietary firms. This streamlined approach can expedite the qualification process for traders.
Additionally, the firm doesn’t impose a minimum trading day rule, unlike other firms like Funding for Traders and Mentoring Opportunities (FTMO) or My Forex Funds, providing traders the flexibility to meet their targets at their own pace.
However, SurgeTrader’s relatively low leverage offering could be a detractor for some traders, as many other proprietary firms offer higher leverage.
Despite being a newer proprietary firm, it offers potential for traders, especially those with a profitable strategy but insufficient capital. It allows trading real accounts, presenting a realistic trading experience.
Its future payout structure could be highly beneficial for skilled traders. However, every trader should consider the platform’s conditions before opting in.
Is Getting SurgeTrader Capital Realistic?
Evaluating the feasibility of securing funding from a proprietary firm like SurgeTrader requires a comprehensive analysis of the firm’s requirements, aligned with one’s trading style and objectives.
While a company offering a high-profit split on substantially funded accounts may seem appealing, it’s vital to consider their expectations, like high monthly gain percentages with low maximum drawdowns. Such stringent conditions could significantly decrease your odds of succeeding.
In this light of this, SurgeTrader is an excellent option for traders seeking funding. The firm has an audition process called a Phase Audition, where you’re expected to implement stop-losses for every trade, mitigating potential significant losses.
SurgeTrader’s audition process rules are well-defined and achievable, with a modest profit target of 10%. They have set a daily drawdown limit of 4% and a trailing maximum drawdown of 5.5%, offering a reasonable risk-to-reward ratio for prudent traders.
Furthermore, SurgeTrader offers the opportunity to trade accounts with a capital of up to $1,000,000, which is a significant amount that could potentially yield substantial profits. The firm’s policy also permits overnight position holding, allowing traders to extend their trades beyond the daily trading sessions.
Final Verdict
SurgeTrader offers a realistic pathway to securing trading capital for new and experienced traders. It’s a platform worth considering for those looking to work with a prop trading firm that offers an equitable balance between potential profits and risk management.
If you find SurgeTrader to be the platform for you, we have even more exciting news. Using the coupon code “modestmoney,” you can save 10% on your subscription! Make sure you don’t miss out on this limited-time offer.
Now, you already know about SurgeTrader and want to get started. What’s even better is you can sign up for a free trial. SurgeTrader provides a risk-free way to experience its platform, evaluate its features, and make an informed decision. It’s an opportunity you shouldn’t miss.
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