SurgeTrader, operating under the umbrella of Surge Funding, LLC, stands as a beacon among the best prop trading firms in the trading industry, simplifying the route for adept traders to access more substantial trading funds.
Its unique selling point is its one-stage evaluation program, and constraints on minimum or maximum trading days are absent.
This flexibility and the platform’s ability to accommodate many trading styles solidify its reputation as one of the best forex prop trading firms in the traders’ union. In this Surge trader review, we expand on some of the futures that make it stand out from competitors.
SurgeTrader offers a buffet of funding levels, starting at $25,000 and scaling to $1,000,000. Institutional traders and individuals can find solace in the transparent and straightforward rules consistent across different account tiers.
While the daily loss cap of 5%, the 8% maximum drawdowns, and the 10% profit goals might seem daunting, they are within the grasp of professional traders.
Beyond this, the SurgeTrader community acts as a nurturing ground, fostering connections and presenting networking opportunities that are indispensable in today’s trading world.
Yet, like all entities in the financial realm, SurgeTrader isn’t without its limitations. Futures or options trading isn’t part of their tradable assets.
Additionally, the initial profit sharing starts at 75%. There’s an extra charge to climb to the much-touted 90% profit share. Another constraint is the monthly cap on withdrawals.
Who Is SurgeTrader Best For?
If you’re an experienced trader with a proven track record, SurgeTrader might resonate with your aspirations. Why? Because it values your trading skills and doesn’t want you stuck in lengthy evaluations.
Their approach means you could be trading on their platform as swiftly as you can meet their requirements. Whether your trading strategy revolves around news, algorithms, or any other approach, SurgeTrader grants the freedom to employ it within its parameters.
Why SurgeTrader Stands Out
- SurgeTrader offers unique features like setting daily loss limits and a range of choices, letting traders customize their journey. The chance to earn up to 90% of profits makes it a standout deal.
- This platform is great for both seasoned pros and newer traders. Of course, any trader can appreciate this straightforward approach.
- Their consistency stands out from other highest-paying prop trading firms with complex, varying rules.
- No matter their account size, every trader follows the same guidelines: only a 5% daily loss, a cap of 8% for total losses, and a goal of 10% profit. It’s as easy as 1-2-3.
- Also, SurgeTrader doesn’t limit how you trade. Whether you’re into trending news, algorithms, or another method, they’ve got you covered.
- They offer a vast selection, including over 100 options like forex. And if you’re still learning or want to up your game, the company has resources to help you grow.
Surge Trader Pricing Plan
Before diving into the financial markets, wouldn’t it be nice to try things out? This prop firm offers free 30-day paper trading accounts. While this doesn’t count towards any evaluation programs, it’s a great way to get comfortable.
If you decide SurgeTrader aligns with your trading vision, you can pick from various funding levels. Starting from as little as $25,000, you can scale up to $1,000,000! But remember, your audition fee will depend on your selected initial funding. Here’s a quick breakdown:
- $25k = $250 per audition
- $50k = $400 per audition
- $1m of funding = $6,500 per audition.
You might think, what if I want to aim higher later on? You can! But if your trading activity doesn’t meet the required profit margins, you’ll return to square one with the audition.
The Account Packages SurgeTrader Offers
- Starter Account
- Access: $25,000
- Default Leverage: 10:1
- Audition Fee: $250
- Add-Ons: For $100 more, enjoy a 90% payout, double leverage for forex and metals, and trade without a stop loss.
- Intermediate Account:
- Access: $50,000
- Default Leverage: 10:1
- Audition Fee: $400
- Add-Ons: Extra $160 for 90% payout, double leverage, and no-stop loss trading.
- Seasoned Account
- Access: $100,000
- Audition Fee: $700
- Add-Ons: Extra $280 for 90% payout, double leverage, and trade freedom.
- Advanced Account:
- Access: $250,000
- Audition Fee: $1,800
- Add-Ons: An additional $720 for boosted payout, double leverage, and trading flexibility.
- Expert Account:
- Access: $500,000
- Audition Fee: $3,500
- Add-Ons: $1,400 more for a higher payout, enhanced leverage, and no-stop loss trading.
- Master Account:
- Access: $1 million
- Audition Fee: $6,500
- Add-Ons: Upgrade package available at 40% upcharge for maximum benefits.
Scaling Your Account
Funding comes swiftly within two days after the evaluation process. Remember, your funded account mirrors your audition account. If you auditioned with $50,000, that’s the capital you get from SurgeTrader.
Want more funds? Scale up. You can keep scaling until you reach the Master account. But, if you don’t hit profit goals, your account resets, and you audition again. The silver lining? Every re-audition comes with a 20% discount.
Trading with prop firms means adhering to the rules:
- You’re allowed to hold trades overnight.
- However, avoid holding a stock overnight if it has an earnings release the next day.
- You can choose any trading technique, from following the news to using algorithms. Just ensure you stick to the firm’s guidelines.
- Remember, don’t hold onto stocks that have an upcoming earnings release.
- Forex and metals: up to 10:1
- Stocks: 5:1
- Cryptocurrencies: 2:1
Wrapping Up: Is SurgeTrader The Right Fit For You?
In a nutshell, our recommendation leans towards SurgeTrader being a fitting platform for those traders who’ve already carved a niche for themselves and have a consistent record of success.
If you’re a trader who has consistently demonstrated proficiency in trading and is seeking a no-frills pathway to financial independence via funded trading.
This might be your platform of choice. Coupled with a seamless audition process and an absence of restrictive time boundaries, it caters to those eager to showcase their prowess in the trading arena and amplify their capital.