Get ready to learn about one of the most talked about trading services in the market today, SurgeTrader. In this SurgeTrader Review, we’ll dive deep into the platforms benefits and see if it is legit. Let’s begin by exploring the fascinating origin story of SurgeTrader, which began with a conversation between an FX broker, institutional trader, and venture capitalist over sushi in Naples.
What Is SurgeTrader?
Surge Trader is a proprietary trading firm created by seasoned Forex veterans who sought to simplify trader funding and provide straightforward trading rules. The platform boasts a wide range of trading instruments beyond individual stocks, and allows traders to use any strategy they see fit. Surge Traders profit split system is one of the highest in the industry, offering up to 90%.
Despite its short existence, SurgeTrader has seen huge growth worldwide, thanks to its transparency and simplicity. Based in Florida, the firm has been expanding rapidly, and it’s easy to see why.
SurgeTrader’s evaluation process is straightforward, and it offers the ability to manage up to $1,000,000 of capital with a profit split system that rewards traders with 75%. SurgeTrader is unique in that it does not restrict trading strategies, whether it be hedging, automated or algorithmic trading, or fundamental analysis. The platform processes payouts quickly with no minimum amount set, and profits are available once a month at any time.
SurgeTrader Features
Now let’s dive into SurgeTrader’s features that make it stand out from other prop firms.
- 75-90% Profit Split: SurgeTrader allows traders to keep 75% of their profits, but they also offer an add-on that lets you keep 90% of your profits.
- Manage up to $1,000,000: Experienced traders can start managing up to $1,000,000 after passing the evaluation. Unlike other prop firms that make traders work their way up, SurgeTrader allows traders to handle large amounts of capital immediately.
- 30-Day Membership with BKForex: SurgeTrader offers a free thirty-day membership with BKForex when you sign up. BKForex is a trading education company that helps traders develop their trading skills and strategies.
- Discord Access: SurgeTrader has an active Discord channel with over 6,000 members. This community contributes to an overall sense of community, and members can discuss trading strategies and share helpful tips.
- Simple Trading Rules: SurgeTrader has uniform trading conditions and requirements, including a 4% daily loss limit, 5% maximum drawdown, and 10% profit target.
- Wide Range of Trading Techniques: SurgeTrader supports nearly all trading techniques, such as news trading, hedging, and algorithmic trading. This allows traders to use their preferred trading strategies.
- Educational Resources: SurgeTrader provides educational resources, such as webinars and trading guides, to help traders improve their skills and knowledge.
SurgeTrader Pricing
SurgeTrader’s pricing model is structured around funding options that range from as little as $25,000 to a maximum of $1,000,000. Your audition fee will vary depending on the amount of initial funding you’d like, with the cost increasing as the funding amount increases.
It’s important to note that while you can scale up your account towards a higher funding limit, if you fail to meet the required profit margins, your account will be reset, and you will need to repeat the audition process from scratch.
The funding options and applicable fees are as follows:
- Starter: Account balance of $25,000. Audition fee of $250
- Intermediate: Account balance of $50,000. Audition fee of $400
- Seasoned: Account balance of $100,000. Audition fee of $700
- Advanced: Account balance of $250,000. Audition fee of $1,800
- Expert: Account balance of $500,000. Audition fee of $3,500
- Master: Account balance of $1,000,000. Audition fee of $6,500
Once you’ve chosen the package that best suits your needs, simply pay the audition fee. The payment is a one-time fee, and you can try the exam as many times as you want, paying the fee each time.
SurgeTrader offers various payment methods, including credit/debit card or PayPal. Regardless of whether you pass or fail the audition, you will never lose more than the cost of the audition, as any losses generated in the live funded trading account will be covered by SurgeTrader.
SurgeTrader Review: The Pros & Cons
When it comes to evaluating SurgeTrader, it’s important to consider both the pros and cons of this prop trading firm. Let’s start with the pros.
Pros:
- No minimum or maximum trading days requirement, giving traders the flexibility to trade at their own pace.
- SurgeTrader’s one-stage “audition” process makes it easy for traders to apply for funding and start trading with the company’s capital.
- SurgeTrader offers a paper account option for traders to test their strategies before trading with real money.
- Optional add-ons allow traders to customize their trading experience to meet their specific needs.
- SurgeTrader offers a free thirty-day membership to BKForex, a forex trading educational platform.
- The rules for trading with SurgeTrader are simple and straightforward.
- Traders can manage up to $1,000,000 in funds.
- The company has an active Discord channel where traders can connect with each other and discuss trading strategies.
On the other hand, there are also some cons to consider:
Cons:
- SurgeTrader does not offer futures or options trading
- The default profit payout is 75%, which may be lower than some traders are used to.
- There are no refunds offered for audition fees or other costs associated with trading with SurgeTrader.
- Traders who want to receive a higher profit split must pay extra for the privilege.
- The maximum loss limit may be restrictive for some traders.
SurgeTrader Alternatives
If you have read this far in our SurgeTrader review and are thinking it isn’t for you, you’re in luck. There are many similar companies, such as TopStepTrader and FTMO just to name a few. For a more complete list and breakdown of features of SurgeTraders competitors, check out this best prop trading firms article or this best funded stock trading accounts article.
Is SurgeTrader Right For You?
If you’re an experienced trader with limited capital, SurgeTrader could be a great fit for you. And if you’re new to trading, their partnership with BKForex offers a fast track to success.
SurgeTrader has a fast and easy evaluation process, simple rules, and a reputation as one of the best in the industry. So if you’re considering a prop trading firm, SurgeTrader is reliable and definitely worth checking out.
Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.
