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Trading with SurgeTrader: A Comprehensive Review
As someone who has explored numerous platforms, tools, and strategies, I am always on the lookout for opportunities to maximize my trading potential. One such opportunity that has been of significant interest recently is SurgeTrader, a proprietary trading firm that offers funded accounts to skilled traders. Here, I’ll provide a comprehensive review of my experience with this program, detailing what you need to know to learn and succeed.
Company Overview
SurgeTrader is not just another trading platform; it is a unique proposition that stands out in the funded trading market. As a proprietary trading firm, they provide capital to traders, allowing you to trade with more significant sums than you might have available personally, thereby amplifying your earning potential. The company’s focus on empowering traders, coupled with an impressive profit-sharing scheme and flexible trading rules, makes it an attractive choice for many traders.
Programs
SurgeTrader offers a range of trading packages that cater to various experience levels and capital requirements. The audition fee varies depending on the package, ranging from $250 for the Starter package (a $25,000 account) to $6,500 for the Master package (a $1,000,000 account). In between are the Seasoned, Intermediate, Advanced, and Expert packages.
The beauty of these programs is their flexibility. There’s no 30-day mandatory trading period, and you can trade whichever instruments you want, offering a degree of freedom that many other trading platforms do not.
Evaluation Process
To qualify for a funded account, you must pass the SurgeTrader Audition, which essentially involves demonstrating your trading competency. Unlike other proprietary trading firms, SurgeTrader’s evaluation process is straightforward, consisting of two steps.
SurgeTrader Audition: You pick a tier and take your audition, sticking to their risk management rules and hitting the targets set out for you. There are no restrictions on the instruments you can trade, allowing you to operate within your comfort zone.
SurgeTrader Funded Account: If you pass the audition, you get a funded account which you can trade with. You can then earn real money, keeping up to 90% of your profits.
Trading Rules
Trading with SurgeTrader isn’t a free-for-all, though. They’ve established clear trading rules to help manage risk effectively. Each trade requires a stop-loss, and you can only have a maximum number of open lots equivalent to 1/10000 the size of your account. Two hard rules can disqualify your account: a daily loss limit of 5% and a max trailing drawdown of 8%.
Profit Sharing & Costs
Profit sharing is where SurgeTrader shines. You can keep up to 90% of the profits you generate in your funded account. Note that the standard profit share is 75%, but with an add-on purchase, you can raise this to 90%. The cost is a one-time audition fee and there are no hidden or recurring charges.
Additional Perks
Traders have the option to scale their account by opting to extend the audition and achieve an additional 10% profit, moving to larger accounts, up to $1,000,000 in funding. Furthermore, SurgeTrader offers quick and responsive customer service, easy payout options, and instant funding upon successfully passing the audition.
Another selling point is SurgeTrader’s proprietary trader portal. It’s user-friendly, intuitive, and provides all the crucial trading data you need in a simple-to-use dashboard.
Quick Thoughts
SurgeTrader offers a fantastic opportunity for traders to apply their skills in a more significant way. However, remember that trading, particularly leveraged trading, always comes with risks. Understanding SurgeTrader’s rules and adhering strictly to them is key to succeeding in this program. After all, risk management is paramount in trading, and SurgeTrader emphasizes this in their model.
While the audition fee might seem a significant initial outlay, consider it as an investment in yourself and your trading career. The potential returns, both in terms of financial gains and skill development, far outweigh the costs, provided you’re disciplined, strategic, and mindful of the rules.
Another essential consideration is the leverages. Depending on the asset, you can receive up to 10:1 leverage for FX, metals, oils, and indices, and 5:1 for individual stocks. With an add-on, you can double the leverage for forex and metals to 20:1. This increased leverage comes with both amplified profit potential and risk, so handle it with care.
What truly stands out about SurgeTrader is the combination of flexibility, potential profit share, and the proprietary platform’s ease of use. The lack of trading style restrictions allows you to trade in a manner that best suits your strategy, and the possibility of keeping up to 90% of the profits provides a significant incentive.
In terms of customer support, the SurgeTrader team is quite responsive. Any issues or concerns I had were addressed promptly and professionally. Moreover, the withdrawal process is simple and fast, allowing you to access your profits easily.
SurgeTrader offers an exciting opportunity for traders looking to expand their trading activity without the need for a significant personal capital investment. Its clear rules, attractive profit-sharing structure, and user-friendly platform make it an appealing option. However, remember that success in such a program requires not only trading skills but also discipline, strategic planning, and robust risk management. With these in place, SurgeTrader offers an empowering and potentially lucrative platform for trading.
Quick Details for the SurgeTrader Programs
| Program | Audition Fee | Available Funding | Profit Sharing | Max Drawdown | Evaluation Duration | Profit Target | Trading Rules |
| Starter | $250 | $25,000 | Up to 90% | 8% | No Time Limit | 10% | Daily Loss Limit: 5% |
| Intermediate | $400 | $50,000 | Up to 90% | 8% | No Time Limit | 10% | Daily Loss Limit: 5% |
| Seasoned | $700 | $100,000 | Up to 90% | 8% | No Time Limit | 10% | Daily Loss Limit: 5% |
| Advanced | $1,800 | $250,000 | Up to 90% | 8% | No Time Limit | 10% | Daily Loss Limit: 5% |
| Expert | $3,500 | $500,000 | Up to 90% | 8% | No Time Limit | 10% | Daily Loss Limit: 5% |
| Master | $6,500 | $1,000,000 | Up to 90% | 8% | No Time Limit | 10% | Daily Loss Limit: 5% |
Additional Trading Rules:
Leverage up to 10:1 for FX, metals, oils, and indices, and 5:1 for individual stocks. Can be increased up to 20:1 for forex and metals with an add-on purchase.
Stop-loss required for each trade.
Maximum number of open lots equivalent to 1/10000 the size of the account.
No restrictions on trading style or strategy.
Withdrawals of profits can be requested at any time, but no more frequently than every thirty days.
Option to scale up account upon passing the audition with an additional 10% profit.
What are the Experiences of Other Traders?
The company enjoys a strong 4.6-star rating on Trustpilot based on 585 reviews. This rating is highly commendable and indicates a largely satisfied user base. Though some may be concerned about the little number of reviews, as compared to other funded trader programs.
In terms of specific strengths, several aspects of SurgeTrader stand out according to trader reviews. Many traders have highlighted the quick and straightforward application process, which is a distinct advantage for those eager to begin trading without unnecessary delays. Additionally, SurgeTrader’s high-profit share of up to 90% is frequently mentioned as a significant draw for traders. The absence of time limits on the funded accounts is another unique aspect that is highly appreciated among users. A supportive community of traders is a recurring theme in the reviews, suggesting a collegial and cooperative environment, which can be vital for trader growth and development.
On the downside, unless you pay extra, profit sharing is set at a default of 75%, which could put off some traders. Requirements can also be strenuous even for seasoned traders and some have found them to be restrictive, making the programs for SurgeTrader designed more for experienced traders.
Comparatively, SurgeTrader seems to fare well against other prop trading firms. Highlighted by Benzinga, the company’s scalable funding plans, absence of hidden or recurring fees, excellent customer service, and user-friendly interface are significant advantages over competitors. Additionally, the platform’s simplicity compared to other prop firms is a notable benefit as per the reviews.
On social media platforms like Reddit, there’s a consensus that SurgeTrader offers a reliable and efficient trading environment, although the strictness of their trading rules is often debated.
In summary, SurgeTrader has a positive online reputation with some reservations about its trading rules. As with any financial decision, prospective traders should thoroughly research and consider these aspects before deciding on a trading program.
247trading Final Impressions on SurgeTrader
After a thorough review of SurgeTrader, it is apparent that this proprietary trading firm offers a compelling opportunity for skilled traders to capitalize on their trading proficiency. With a clear structure, tiered funding levels, and an attractive profit share scheme, it caters to both beginner and seasoned traders.
One of the standout features of SurgeTrader is its generous profit-sharing scheme. Traders retain up to 90% of their profits, a figure significantly higher than most other prop trading firms(even though this is a value-added service). Additionally, SurgeTrader’s simplicity and transparency, as highlighted in several reviews, are key strengths. From the initial audition phase to moving onto a fully funded account, the process is clear and straightforward, reducing potential confusion or roadblocks for traders.
Another advantage of SurgeTrader is its no-time-limit policy on funded accounts, a feature not commonly found in similar programs. This allows traders the flexibility to plan and execute their strategies without the pressure of a looming deadline. The flexibility extends to the variety of trading styles and strategies permitted, giving traders the freedom to trade in ways that align with their skills and risk tolerance.
The one-time audition fee, compared to recurring subscriptions or hidden charges common in other platforms, provides transparency and affordability for traders. The instant funding feature once a trader successfully passes the audition is another plus, allowing immediate trading access.
However, the strict trading rules, especially regarding daily loss limits and maximum trailing drawdowns, may pose a challenge for some traders. These strict rules, though designed to encourage prudent risk management, might feel restrictive to some. But it’s important to note that any good trading program will always have mechanisms to enforce discipline and risk management.
In comparison to other prop trading firms, SurgeTrader seems to hold its own quite well. The combination of simplicity, transparency, a high-profit share, and no time limit sets SurgeTrader apart from many of its competitors. Moreover, the overall positive online reputation further solidifies its standing in the market.
Considering the potential for high profits, clear trading rules, and excellent online reputation, SurgeTrader is certainly worth considering for traders looking for a funded trading account. It stands as a competitive platform in the prop trading space. However, as with all trading activities, prospective traders should thoroughly assess SurgeTrader’s trading rules and consider their risk tolerance before making a decision.