Surge Trader Review (10% discount code: FPREVIEWS10OFF)

SurgeTrader encourages its traders to succeed in their careers. They are enabling them to earn more profits from their trading activity. To become a funded trader, you must first pass an audition to demonstrate your skills and discipline as a competent trader. Upon successful completion, you are rewarded with a 75% profit split on your future payouts.

Who are SurgeTrader?

SurgeTrader is a proprietary firm that is based in the United States, Florida, offering motivated traders up to $1,000,000 in funding with a profit split of 75%. They have integrated their technology with a broker EightCap, which is an ASIC-regulated broker in Melbourne, Australia.

They are a registered company under the official name Surge Capital Ventures, LLC, with a registration authority ID RA000603.

Surge Capital Ventures, LLC was opened on 3rd Sep 2021 as a Limited Liability Company type, registered at 405 5TH AVENUE SOUTH NAPLES, FL 34102. However, they have been operating since June.

Company Surge Capital Ventures, LLC has been operating for almost a year now.

Their offices are located at an address, 405 5th Avenue South, Naples, Florida 34102.

Video Review

Funding program options

SurgeTrader offers its traders a one-step evaluation program with six different account sizes.

Evaluation program accounts

SurgeTrader evaluation program aims to identify serious traders and enable them to earn more profits from their trading activity. They are rewarded for their consistency in the one-phase evaluation period. The evaluation program account allows you to trade with up to 1:10 leverage.

The evaluation phase requires a trader to reach a profit target of 10% while not surpassing their 4% maximum daily loss or 5% maximum trailing drawdown rules. Your evaluation account has no minimum or maximum trading day requirements. The only requirement to become funded is hitting the profit target.

By completing the evaluation phase, you are awarded a funded account where you have no profit targets. You are only required to respect the 4% maximum daily loss and 5% maximum trailing drawdown rules. You can request your first 75% profit split on day one if you are in profit. However, the next payouts can be requested on a 30 calendar day period.

Evaluation program account scaling plan

Evaluation program accounts also have a scaling plan. You are required to reach a profit target of 10% based on your initial account balance. Note that the scaling is up to $500,000, and you are not eligible for a profit split if you scale your account. That being said, $500,000 and $1,000,000 accounts don’t have a scaling plan.

You can see the scaling plan for the evaluation programs below:

Evaluation program account rules

• Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Evaluation programs have a profit target of 10%. Funded accounts have no profit targets.
• Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 4%.
• Maximum trailing drawdown is the maximum drawdown that is equal to the distance between the highest account balance achieved and the maximum drawdown. All account sizes have a maximum trailing drawdown of 5%.
• Stop-loss required means that traders must set a stop-loss on every position before they can open a trade.
• Lot size limit requires traders to follow specified lot sizes for specific trading instruments. These are most usually set based on the initial account balance of the prop firm account. The maximum number of open lots across all pairs that a trader can have at any given time is 1 lot per $10,000 capital.
• No weekend holding means that traders are not allowed to hold open positions during the weekends.

Add-on options for your evaluation program accounts

1. No stop-loss required: 10% price increase when purchasing your evaluation account
2. Double leverage (this will double the leverage for forex pairs and metals): 25% price increase when purchasing your evaluation account
3. 90% profit split: 10% price increase when purchasing your evaluation account

Keep in mind that you can choose only one add-on option, or you can choose multiple based on your personal preference!

What makes SurgeTrader different from any other prop firm?

SurgeTrader is different from most of the industry-leading prop firms due to almost never regulating your trading style, you have no minimum or maximum trading days requirement while also being able to trade during news and hold trades overnight.

Compared to other prop firms, the SurgeTrader evaluation program is a one-phase evaluation program that requires traders to complete and hit a profit target before being eligible for payouts. The profit target for the evaluation program is 10%, with a 4% maximum daily loss, 5% maximum trailing drawdown, required stop-loss, and lot size limit rules. On the other hand, you have no minimum or maximum trading days period. Evaluation program accounts also have a scaling plan (except $500,000 and $1,000,000 accounts).

In conclusion, SurgeTrader is different from most of the industry-leading prop firms due to almost never regulating your trading style. Note that you also have no minimum and maximum trading day period, which is a major positive since you aren’t forced to take trades.

Is getting SurgeTrader capital realistic?

When looking at prop firms that best suit you and your forex trading style, it’s important to look at how realistic the trading requirements are. For example, a company offering a high % profit split on a highly funded account sounds great but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the evaluation program accounts is realistic mostly since they have an average 10% profit target with average maximum loss rules (4% maximum daily loss and 5% maximum trailing drawdown).

After considering all of that, SurgeTrader is an excellent choice to get funded since evaluation program accounts that you can choose from all have realistic trading objectives to follow and conditions to receive payouts.

Payment proof

SurgeTrader is a proprietary trading firm launched in June 2021 and registered on the 3rd of September.

SurgeTraders can request their withdrawals at any time for the first time, but after that, no more frequently than every 30-days. You are entitled to a profit split of 75%. When the withdrawal is requested. SurgeTrader also withdraws its share of the profits, and your new equity will be marked down by the total amount of funds withdrawn.

You can mostly find payment proof about SurgeTrader on their Instagram account, where they post payouts from their traders. You can see three examples of payout certificates below.

1. $9,081 payout to John T., who is a trader located in the USA.

2. $8,504 payout to E. W., who is a trader located in Canada.

3. $2,250 payout to M. O., who is a trader who is located in Sweden.

Which broker does SurgeTrader use?

SurgeTrader has integrated its technology with a broker Eightcap, which is an ASIC-regulated broker in Melbourne, Australia. They were founded in 2009 with a simple, clear mission to provide exceptional financial services to their clients. They have 5 offices around the globe and regulations in multiple locations providing clients all over the world with the ability to trade on markets across FX, indices, commodities, and shares.

Eightcap is considered average-risk, with an overall Trust Score of 73 out of 99. They have the following features:

1. Forex Trading
2. CFD Trading
3. Cryptocurrency Trading
4. Social Trading/Copy-Trading
5. A total of 326 Tradeable Symbols
6. A total of 45 Forex Pairs

They offer two account types, one being Raw and the other one Standard. The commissions and fees will depend on which of the two you choose. Fees for Standard accounts are built into a spread and for Raw accounts into a commission. Another fee you should always consider is the overnight fee, which is an interest for holding a position open overnight in trading. They allow leverage of 1:30, with specific restrictions according to the trading size you are operating with.

Being a MetaTrader only broker their offers are MetaTrader 4 and the newer MetaTrader 5 platforms from MetaQuotes Software Corporation. In addition, you can also choose to use MT5 TradingView.

They deliver a personalized trading experience and create an ultra-efficient technology infrastructure for you to trade on and have been awarded the Best Global Forex MT4 Broker 2020 at the Global Forex Awards for doing so.

SurgeTrader provides their traders with real accounts once they pass the Audition.

Trading instruments

SurgeTrader offers a large variety of Trading Instruments. You are allowed to trade forex pairs, cryptocurrency, metals and energy, stock indices, and 90 individual stocks.

Trading fees

Trading commission:

Spread:

In order to check the live spreads login to the trading account below:

Education & Support for traders

SurgeTrader does not provide any additional educational programs.

They do offer an option to request a free trial by emailing support@surgetrader.com, so you can familiarize yourself with our platforms and trading rules and get a sneak peek of what it’s like trading with SurgeTrader. The free trial lets new traders practice, hone their skills, and improve their trading strategies. Completing the free trial means that you have a great chance of being successful in the SurgeTrader Audition.

Note that successfully passing the free trial does not provide eligibility to a funded trader account. Only when you pass the SurgeTrader Audition, do you become a funded trader.

Traders’ comments about SurgeTrader

SurgeTrader has great feedback from their reviews.

As previously mentioned, SurgeTrader is a relatively new proprietary firm. Out of 73 reviews on Trustpilot, they have an excellent rating of 4.4/5 rating.

SurgeTraders community has positive feedback on their responsive and helpful customer support. Another positive comment was made for the incredibly simple dashboard and the few simple rules that constantly remind you of what you aren’t allowed as your trading strategy.

You can see all the reviews here.

Social media statistics

SurgeTrader can also be found on social media.

They have a:

• Linkedin page with 426 followers
• Facebook page with 545 followers
• Twitter account with 5,665 followers
• Instagram profile with 17,3k followers
• Youtube channel has 334 subscribers with 17 uploaded videos. 

Support

SurgeTrader has an FAQ page where you can find all the information that you need about the firm. 

The support team is available on their social media, or you can contact them directly on their email support@surgetrader.com.

They also have live chat support from 7 AM to 3 PM (CE(S)T).

For any further information, you can also contact SurgeTrader through telephone numbers:

• 866-998-0883 (Toll-free)
• 239-829-8438 (Direct)

Conclusion

In conclusion, SurgeTrader is a legitimate proprietary trading firm that offers traders a chance to choose between different evaluation program account sizes.

Evaluation programs are a one-phase evaluation challenge that requires the completion of one phase before becoming funded and being eligible to earn profit splits. SurgeTrader requires traders to reach a profit target of 10% before becoming funded, which are realistic trading objectives considering you have a 4% maximum daily loss and 5% maximum trailing drawdown rules to follow. With evaluation programs, you can earn 75% profit splits while also being able to scale your accounts (except for $500,000 and $1,000,000 accounts).

I would recommend SurgeTrader to anyone who is looking for a prop firm with straightforward trading rules. While they are still a relatively new firm, they offer excellent conditions for a big pool of individuals with unique trading styles. After considering everything SurgeTrader has to offer, they are for sure one of the industry-leading prop firms.

This review of SurgeTrader was lastly updated on 26.08.2022 at 09:36 CE(S)T.

So, what do you think about the layout of the Proprietary Trading firm? Does Surge Trader have the instruments that you want to trade?

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