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Is SurgeTrader a scam or legit? Is SurgeTrader considered a trustworthy and safe company? Yes SurgeTrader is a safe and secure Proprietary Trading Firm. However, No Proprietary Trading Firm is perfect, and SurgeTrader is no exception. While they do have a lot of pros, there are plenty of reasons why you might be looking for an alternative to SurgeTrader. So which Firms are better than SurgeTrader? Want to jump straight to the answer?

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SurgeTrader Trading Features

SurgeTrader Trading Features. This summary is updated; however, rules frequently change. Always confirm rules with your prop firm.
Trading Feature Value
💰 Fees:  The SurgeTrader Challenge with an initial balance $25K costs $250; $50K balance for $400; $100K balance for $700; $250K balance for $1800; $500K balance for $3500; $1 mil. balance for $6,500
🚀 Profit split:  Traders are entitled to 75% of profits generated, with the option purchase an add-on to increase profit share to 90%.
✔️ Evaluation:   SurgeTrader offers its traders a one-step evaluation program that you must pass to get your trading account funded with six different account sizes.
🎯 Profit Target:  10%
⚓ Maximum drawdown (MDD)​​:  The daily drawdown is no more than 5%, and the maximum loss is up to 4%.
⌛ Trading Period​​:  The SurgeTrader Challenge has No time limits.
⚖️ Leverage:  The leverage offered is as follows: For cryptocurrencies, it is 1:2; for fiat currencies, oil, metals, and indices, it is 1:10; and for stocks, it is 1:5.
🔧 Instruments:  Forex, Crypto, Metals, Energy, Indices, Shares
📰 Allow Trade News:  News trading is allowed
🔄 Weekend Position:  No
Read to find out about SurgeTrader Forex Prop Trading Firm, what is SurgeTrader Firm Funded Account, How to Pass SurgeTrader Firm Challenge, and Much More

SurgeTrader Review and Analysis

Overview

SurgeTrader Firm Proprietary Trading Firm

As prop firms jostle for recruits in the funded trading arena, another firm has joined the ranks: enter SurgeTrader. SurgeTrader is a Florida-based prop firm founded by serial entrepreneur Jana Seaman. The company offers “Accelerated trader funding” where successful applicants keep up to 90% of profits earned through allocated accounts.

Like most prop firms the premise is simple: pass an internal evaluation and you could be trading with an amplified account (in the case of SurgeTrader, up to $1 million in funding). Any profits earned will be split between the firm and trader, in this case with a 90% share in the traders’ favor.

Before we delve into the fine print of the SurgeTrader project, let’s take a step back and review: what exactly are prop firms and how does funded trading work?

Funded Accounts

SurgeTrader Firm Funded Account

Traders starting out on their professional journey are all too often faced with an immediate hurdle: lack of capital. Enter the funded trading program: an opportunity for accelerated capital from an administrating firm. Why would a large company go to the trouble – and expense – of funding new and potentially inexperienced traders? The answer is simple: shared profits. Only traders who can prove their ability to glean consistent profits and trade within the parameters of risk control will go on to be funded.

Funding programs vary widely in what they offer – and require from – traders. Some claim they will fund traders with up to a million dollars, but on closer inspection, this will be virtual money traded within a demo account. Others may offer generous payouts but there will be strict restrictions or irregular withdrawal access. In the case of SurgeTrader the emphasis is marketed as “up to 90%” but traders should take this with a pinch of salt: the reality is largely 75% and the upper tier is only when you purchase an add-on at 20% of the audition fee.

The popularity of funded programs is growing at a phenomenal speed and for small wonder. Using funds from a prop firm represents a number of benefits to traders from all backgrounds and levels of experience. To name a few:

SurgeTrader offers:

  • Financial opportunity: traders can go from zero to a million dollars in just one or two steps
  • Minimal risk: the profits are shared but losses are borne by the prop firm
  • No personal investment: traders can avoid staking their savings on the line
  • Strategy testing: funded programs are the ideal place to test new strategies or trading approaches with no personal risk
  • Scaling opportunities: successful traders can grow their accounts and increase profits as they learn the ropes
  • Professional experience: funded trading allows novice traders to practice and accumulate skills in a new industry

The list goes on but the message is clear: traders can hone skills, access capital, and learn the ropes of a new strategy using company capital. Now onto SurgeTrader: what exactly does this prop firm demand of its traders and does it meet expectations?

Challenge Overview

SurgeTrader Firm Challenge reviewHow to Pass the SurgeTrader Firm Challenge

SurgeTrader prides itself on simplicity: the Challenge is a quick one-stage assessment with minimal trading restrictions. Would-be funded traders should bear in mind that while the rules are small in number the targets are by no means a walk in the park. Traders aiming for accelerated funding from SurgeTrader need to do the following:

  • Pay a one-time fee to access the Challenge (no monthly subscription)
  • Follow simple rules during the evaluation
  • Meet two Challenge targets (any strategy allowed)
  • Pass and become a Funded Trader (up to $1m in capital)

Traders can choose between six account sizes and profit targets and sign-up fees (referred to as “audition fees”) vary accordingly.

  • $25,000 | Profit Target $2,500 | Audition Fee: $250
  • $50,000 | Profit Target $5,000 | Audition Fee: $400
  • $100,000 | Profit Target $10,000 | Audition Fee: $700
  • $250,000 | Profit Target $25,000 | Audition Fee: $1,800
  • $500,000 | Profit Target $50,000 | Audition Fee: $3,500
  • $1,000,000 | Profit Target $100,000 | Audition Fee: $6,500

As you can see there is a huge range in costs with the starting package costing just $250 but the largest account setting a trader back $6,500. On the plus side, however, traders choosing the top tier account could be sitting on $1 million in funding, profits from which they would keep 75% (90% in certain circumstances).

For all six accounts, certain parameters stay the same. The daily loss limit is capped at 4% across all six, and the maximum trailing drawdown is 5%. There is up to 10:1 leverage offered but only for forex and metals trading. Most importantly, the profit share is mirrored across the board: the standard profit share is 75% which can be increased to 90% with an add-on.

How does it work?

Getting set up with SurgeTrader is relatively straightforward. While some prop firms will have multiple stages of an assessment before passing to funded accounts, the SurgeTrader “audition” takes place in a single evaluation. You simply choose your tier and pay the fee for said account size. Trade within the profit targets and loss limits using whichever style or strategy that is desired. Traders can trade any instruments with no time limit (neither minimum trading days nor overall period). Traders who meet their targets will move onto funded accounts with instant capital upon passing the audition.

Pros and Cons

Let’s talk about the good stuff …

where does SurgeTrader blow us out of the water? Traders looking for freedom will appreciate the flexibility of the SurgeTrader Challenge. Any strategy is permitted including hedging, scalping, and algorithmic trading.

The firm is reassuringly transparent and aboveboard. The capital is backed by an international venture fund and the trading is licensed by ASIC, an Australian regulator. The profit share is generous, with traders keeping at least 75% of any profits earned. Any losses are borne in full by SurgeTrader. The company website is loaded with tutorials, trader testimonials, and a blog. There is also a section “In the News” featuring SurgeTrader company announcements and media highlights such as charitable endeavors and sponsorship.

There is a wide range of available instruments to trade. The trader portal is an intuitive and feature-rich platform that lets you track activity, monitor numbers and improve performance through in-build metrics. A final generous perk is that all SurgeTraders get a complimentary 30-day membership with the trading group BKForex under the guise of industry experts Boris Schlossberg and Kathy Lien.

... and the bad

Where SurgeTrader may disappoint would-be recruits is with the initiation fee – up to a hefty $6,500 – and while the firm prides itself on the easy Challenge the 5% daily drawdown and 4% maximum loss would be restrictive in practice throughout the evaluation. Traders looking for historic longevity may have reservations about the shelf life of SurgeTrader: the company was only founded in 2021 so one could argue it has not been fully put to the test of time.

The withdrawal system has its flaws: while there is no cut-off date by which traders need to request payouts they can only take out funds once a month which could be frustrating to some. The company may boast of the simplicity and lack of rules but the ban on weekend trading will be significantly limiting to traders looking to implement long-term strategies. The leverage on offer is low compared to other prop firms (10:1 where competitors give as much as 100:1) and constrained to forex and metals only. For stocks and cryptocurrencies it is lower still, at 5:1 and 2:1 accordingly.

Evaluation Metrics

Overall metrics

    To truly evaluate what SurgeTrader Firm brings to the trading table, we decided to score each aspect of the SurgeTrader Firm Challenge individually.
  • Minimum Trading Days: There are no time limits or minimum trading days required to pass the SurgeTrader Audition.
  • Profit Targets: These are set as a percentage of the account size. Once you achieve a 10% profit target, you receive a funded account — up to $1 million. You keep up to 90% of your profits.
  • Trading Duration: No limitations on how long traders take to complete the Challenge.
  • Daily Loss Limit: Daily losses should not exceed 4% of the account size in question. For instance, a $100K account would have a daily loss limit of $4,000.
  • Overall Drawdown: Your maximum allowed loss should not exceed 5% of the current account size regardless of the stage. Traders with a $200,000 account should not run losses above $40,000.

Meet the CEO

Meet The Surgetrader CEO - Jana Seaman

Jana Seaman, a serial entrepreneur and financier, is the driving force behind SurgeTrader, the world's leading prop trading firm. Recently honored as one of the top 40 businesspersons under 40 by Gulfshore Business, Jana has witnessed unprecedented growth with SurgeTrader in just its first year.

Drawing on a track record of success and a team of professionals, Jana's VALO Holdings Group has positioned SurgeTrader for exponential future growth. Jana Seaman's visionary leadership and commitment to empowering traders have solidified SurgeTrader's position as a game-changer in the industry, propelling individuals towards financial success and life-changing opportunities.

Frequently Asked Questions (FAQs):

What happens if you fail the Challenge?
Traders who do not pass the Audition the first time around can retry with a 20% discount and every repeated attempt thereafter.
Do traders use a virtual account when they get funded?
SurgeTrader auditions are demo accounts. Therefore, during the evaluation stage, traders will use virtual funding. Successful applications that pass the SurgeTrader Audtion will go onto access accounts loaded with real funds.
How do you withdraw profits?
Funded traders wishing to withdraw their profits can do so in a few clicks but no more frequently than every 30 days. SurgeTrader will withdraw its percentage of the profits at the same time so that the trader recommences with new equity each time. For any payout issues, the SurgeTrader customer support team is on call 24/7.
How trusted is SurgeTrader?
The trusted source of information on fintech matters SBO, gave SurgeTrader a 3/ 5.00 rating based on analysing 20+ criteria and testing. SurgeTrader is currently in 8th place in this ranking. FunderPro is currently rank as the number one.
What is the SurgeTrader fee?
The SurgeTrader Challenge with an initial balance $25K costs $250; $50K balance for $400; $100K balance for $700; $250K balance for $1800; $500K balance for $3500; $1 mil. balance for $6,500
Does SurgeTrader offer coupons for customers?
Yes, currently, there is one SurgeTrader discount coupon FPREVIEWS10OFF available for customers.
How can I find SurgeTrader discount coupons and promo codes?
Visit the SurgeTrader dedicated discount coupons page as well as by joining several discussions and conversations within relevant online groups and communities.
What is the profit split for SurgeTrader?
Traders are entitled to 75% of profits generated, with the option purchase an add-on to increase profit share to 90%.
What is SurgeTrader evaluation process?
SurgeTrader offers its traders a one-step evaluation program that you must pass to get your trading account funded with six different account sizes.
How do I become an SurgeTrader Trader?
10%
What is an acceptable max drawdown for SurgeTrader?
The daily drawdown is no more than 5%, and the maximum loss is up to 4%. Maximum Drawdown is the Distance between the highest and lowest points (maximum and minimum peak).
What is SurgeTrader Trading Duration / Time restriction?
The SurgeTrader Challenge has No time limits.
What is SurgeTrader leverage?
The leverage offered is as follows: For cryptocurrencies, it is 1:2; for fiat currencies, oil, metals, and indices, it is 1:10; and for stocks, it is 1:5.
What financial instruments can be traded at SurgeTrader?
Forex, Crypto, Metals, Energy, Indices, Shares
Can I trade news at SurgeTrader?
News trading is allowed
Can I hold trades overnight or over the weekend?
No

Traders comments and Reviews about SURGETRADER

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TrustPilot SurgeTrader TrustPilot Customer Reviews, Feedback and Complaints
Trustpilot On Trustpilot, SurgeTrader has currently 463 number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.50/5.00.

SurgeTrader firm's reply behavior to negative reviews is up to the standard having replied to 100% negative reviews with a response time to their negative reviews in less than 7 days.

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