SurgeTrader Review

In this SurgeTrader review we will provide a detailed analysis of the services offered by this prop firm. This Funded Trading company offers a vast range of accounts packages from starter to Master. They are based in Florida, US and have been operating Funded trading accounts since being incorporated in 2021. We have also sourced a 10% discount for all of their programs, you can find the coupon below.

4/5
SurgeTrader Review

Advantages

  • Up to $1,000,000 Capital
  • Offers free trial upon request
  • No minimum trading days
  • Diverse scaling plans from Audition onwards

Disadvantages

  • Stop Loss required for every trade
  • No weekend trading
  • Maximum leverage of 10:1
  • Maximum open lots restricted to 1/10,000 account balance

How does This prop Firm Work?

SurgeTrader start with a one stage audition process in order to access a funded account. They have their own set of rules for the trader to pass onto a rewarding 75% profit split. This company has its own set of rules that translate across each of the account sizes they offer. These include hitting a 10% profit target on your account, which is the industry standard. You have a daily loss limit of 4% and a maximum trailing drawdown of 5% which is lower than most we see. You are also restricted with the amount of lots you can have open at any one time which is stated in their FAQ. Traders may have a maximum number of open lots with risk equal to 1/10000 the size of their account.

SurgeTrader boasts flexibility on trading style as they appear to have little to no limits on the type of trading you can do. You aren’t subject to any minimum or maximum trading days, you just have to hit the 10% profit threshold. The audition process is completed through a demo account, once you have passed the audition you are given a new account. This account is used to execute trades in the real markets.

How much Capital do they provide and what are their prices?

SurgeTrader is a funded trading prop firm and they provide capital up to one million dollars. Their account size options and one off fees are as follows:

Starter $25,000 account costs an audition fee of $250

Intermediate $50,000 account costs an audition fee of $400

Seasoned $100,000 costs an audition fee of $700

Advanced $250,000 costs an audition fee of $1,800

Expert $500,000 costs an audition fee of $3,500

Master $1,000,000 costs an audition fee of $6,500

Are They legit?

SurgeTrader launched its services in June 2021. They have a good presence on social media including LinkedIn, Facebook, Instagram and Twitter. They have a growing Trustpilot account which currently has 30+ reviews and a 92% excellency rating.

 

What platform do they use?

SurgeTrader trades with the industry standard platforms, MT4 and MT5

What markets can be traded?

With SurgeTrader you have a wide variety of markets to trade. This includes up to 90 individual stocks, indices, metals, energy and crypto.

Do They Trade Crypto?

We contacted SurgeTrader and were informed that “the spreads with Eightcap are tight and as low as 0. The commission is $7 for forex and metals and all other products have no commission”.

How much does the company charge as commission and spread?​

Yes, SurgeTrader does trade Cryptocurrency. Their website states there is a wider range of cryptos available on their MT5 platform through their partnered broker, 8cap. They also list the full extent of their tradable instruments on their website.

What are Their Withdrawal Options?

You would need to have met SurgeTrader’sprofit targets once you are a funded trader. You can then make a withdrawal request, which is limited to once per calendar month.

Do they provide education and training?

With SurgeTrader you have a wide variety of markets to trade. This includes up to 90 individual stocks, indices, metals, energy and crypto.

Do they have Support and Contact options?

Firstly, SurgeTrader has an extensive FAQ section which provides clear answers to many lines of inquiry. Secondly they have multiple options for accessing support. This includes a live chat feature on the website available on weekdays from 7am-3pmCET. They also have a support email address and you can contact them via telephone. All these details are available on the website.

What makes them unique?

SurgeTrader are different to some of the other prop firms in the industry for several reasons. They have no minimum or maximum trading days so you can pass your evaluation at your own pace. While they do require a stop loss for every trade, they do allow for holding positions overnight. All trades must be closed before 4pm EST every friday.

Another difference is that when you pass your audition you can either accept your fully funded account or choose to scale up. With the second option they ask you to continue with your audition and achieve a further 10% profit. When this target is met you can then scale to the next size account, and continue with this system to scale again.

Overall, SurgeTrader has slightly different rules and processes to many other prop firms. However, they are transparent and all their rules are set out clearly for the trader to see and understand. They have a diverse range of account size options and pricing to suit traders of different abilities.

If you want to find out more about SurgeTrader, or sign up, you can do that here.