Buy, trade, and hold 500+ cryptocurrencies on SurgeTrader
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SurgeTrader, a prop trading firm registered under Surge Funding, LLC, beckons traders with promises of a straightforward path to funded trading. In this review, we dissect SurgeTrader’s key features, user experiences, and potential drawbacks to help traders make an informed decision.
SurgeTrader Review 2024 | Unveiling the Reality Behind SurgeTrader’s Prop Trading Claims
SurgeTrader emerges from the collaboration of an institutional trader, a venture capitalist, and a forex trader. This trio aimed to simplify the trader funding journey, offering clear rules and minimal constraints. As one of the more lenient trading firms, SurgeTrader allows a profit split of up to 90%, supports various trading instruments, and imposes no minimum trading days requirement.
- No min/max trading days requirement
- Diverse asset classes for trading
- Streamlined one-stage “audition” process
- Paper account offered for practice
- Support for various trading strategies
- Excludes futures or options trading
- Default profit payout set at 75%
- No refunds available
- Rigorous daily loss and drawdown rules
- SurgeTrader History
Founded in 2021 with offices in Florida and Delaware, SurgeTrader is the brainchild of Jana Seaman, recognized in 2022 as one of Gulfshore Business’s 40 under 40. Stemming from a conversation in a Naples sushi restaurant, SurgeTrader’s goal is to provide swift access to substantial funds. Despite its recent entry into the prop trading platform market, SurgeTrader has made waves with its user-friendly system, low fees, and advanced features.
Features
SurgeTrader distinguishes itself with uniform trading conditions across all account levels. With a 5% daily loss limit, 8% maximum drawdown, and a 10% profit target, SurgeTrader sets a challenging yet achievable standard. The platform supports various trading techniques, offers a broad range of instruments, and provides educational resources to its members.
Pricing & Plans
Funding levels range from $25,000 to $1,000,000, with audition fees corresponding to the desired amount. SurgeTrader accommodates flexibility, allowing traders to scale up their accounts. However, failing to meet profit margins necessitates a reset and a repeat of the audition process.
User Reviews
SurgeTrader maintains a strong user satisfaction rating of 4.6 out of 5 based on 583 reviews. Users praise the platform’s no-pressure environment, straightforward rules, responsive customer service, and swift payouts. SurgeTrader’s customer-focused approach makes it a preferred choice for many traders.
Community and Networking
Beyond trading, SurgeTrader fosters a vibrant community through forums, webinars, and live trading sessions. Traders connect globally, sharing experiences and insights. The platform’s ties with institutional traders and venture capitalists offer networking opportunities for traders exhibiting exceptional skills.
Tradable Assets
SurgeTrader boasts a diverse array of tradable assets, catering to various trading preferences. From major, minor, and exotic currency pairs to indices, commodities, and cryptocurrencies, SurgeTrader provides ample opportunities for diversification.
Audition Process
SurgeTrader’s audition process allows traders to test their skills before accessing substantial funds. Choosing the audition amount, taking the test in a demo account, and demonstrating strategies within SurgeTrader’s rules lead to live trading accounts for successful participants.
Trading Rules
Addressing common queries, SurgeTrader allows holding trades overnight and over the weekend, supports various trading strategies, and provides leverage based on asset types. Traders must adhere to rules concerning earnings releases, news trading, and permissible lots based on account size.
Limitations
While SurgeTrader excels, it has limitations. Withdrawals are limited to once per 30 days, and achieving the advertised 90% profit share requires an additional fee. SurgeTrader doesn’t support futures or options trading.
Is SurgeTrader Right for You?
Recommended for experienced traders with a history of success, SurgeTrader offers a simplified path to funded trading. Its flexibility, simple audition process, and lack of time constraints make it appealing to those seeking quick access to additional capital.
Final Thoughts
SurgeTrader presents a compelling option for traders looking to access funded trading with simplicity and flexibility. Its clear rules, uniform conditions, and supportive community contribute to its standing in the prop trading industry. While it may not be suitable for everyone, SurgeTrader’s unique approach makes it worth considering for those meeting its criteria.
Frequently Asked Questions
SurgeTrader is a proprietary trading firm providing a streamlined path to funded trading with a simple audition process.
Costs vary based on funding levels, ranging from $250 to $6,500 for auditions.
Default profit split is 75%, but a $360 add-on achieves a 90% profit share.
Yes, including withdrawal restrictions and absence of futures or options trading support.
Yes, trades can be held overnight, but certain restrictions apply.
SurgeTrader allows various strategies, including discretionary, hedging, and algorithmic trading.
Recommended for profitable traders with a proven track record seeking a straightforward path to funded trading.
Email: info@surgetrader.com (General) | support@surgetrader.com (Support)
Phone: 866-998-0883 (General) | 239-944-5317 (Direct) | 866-998-7652 (Toll-Free)
Chat: Live chat feature on the SurgeTrader website.
Social Media: Active presence on multiple platforms.
Discord: Dedicated support channel available.
Whether SurgeTrader aligns with your trading goals depends on your experience, preferences, and objectives. Exploring user reviews, understanding the platform’s features, and considering your own trading style will guide you in determining if SurgeTrader is the right fit for your financial journey.
Disclaimer: Investing can be quite a wild ride – especially when you don’t know the terrain! To keep things from getting too rocky, take some time beforehand to get familiar with all of the risks involved. Our site is here to up your investor game by providing all available intel about platforms and trends, but we don’t take responsibility nor can we be held accountable as advisors. That being said, it’s still important for you to make educated decisions that match what works best for YOU – just remember: no amount of savvy will guarantee success or protect against loss so invest money you can spare.
