Review
Surge Trader
"Surge Trader: Empowering Investors with Cutting-Edge Strategies"
"SurgeTrader: Empowering Talented Forex Traders with Capital and Opportunity for Unprecedented Success"
The SurgeTrader initiative was conceived through the combined knowledge and experience of seasoned Forex traders, brokers, and venture capitalists. They firmly believe that skillful traders can achieve success when provided with capital and opportunities. Their primary goal was to streamline the trader funding process and help successful traders leverage their skills and achievements.
Just like many iconic companies that began in humble settings, SurgeTrader had its origins in a conversation at a sushi restaurant in Naples. It all started with a discussion among an FX broker, an institutional trader, and a venture capitalist.
SurgeTrader nurtures a culture of professional development and encourages traders to excel in their careers by enabling them to generate higher profits through their trading activities. To become a funded trader, aspiring individuals must pass an audition that demonstrates their proficiency and commitment to disciplined trading practices. Once they achieve this milestone, traders become eligible for a profit-sharing arrangement, with payouts ranging from 75% to 90% of their future earnings.
Who are Surge Trader
SurgeTrader, situated in Florida, United States, is a unique proprietary trading firm offering ambitious traders the opportunity to access funding of up to $1,000,000. Through a beneficial profit-sharing arrangement, traders can retain anywhere from 75% to 90% of their profits. The firm has seamlessly integrated its cutting-edge technology with EightCap, a Melbourne-based broker regulated by the Australian Securities and Investments Commission (ASIC). SurgeTrader was officially incorporated in Delaware in August 2021 and subsequently registered in Florida in September 2021.
The CEO of SurgeTrader is Jana Seaman. She leads SurgeTrader, a company committed to providing comprehensive business solutions and funding to help enterprises achieve remarkable success. The organization’s focus is on boosting revenue for both small and large businesses that are experiencing rapid growth. SurgeTrader offers a wide range of resources, including leadership coaching, employee onboarding, operational management, and capital infusion, with a specific emphasis on the technology, financial services, and automotive sectors. Through its subsidiary, VALO Holdings, the company supports businesses in achieving substantial and sustainable growth.
Leveraging their wealth of experience in successful market trading, Jana Seaman, her family, and the entire SurgeTrader team possess valuable expertise in creating a rewarding livelihood. This collective knowledge significantly influences SurgeTrader’s current mission, which is to expedite trader funding by providing access to institutional capital, including their own resources.
Since its inception, SurgeTrader has witnessed impressive growth and fostered a strong sense of community. Watching traders achieve exceptional returns and build thriving careers through trading has been a truly inspiring journey. The company empowers skilled traders to attain financial independence and pursue a life driven by their genuine passions. The satisfaction derived from assisting others on their path to self-empowerment is immeasurable.
Funding Options
SurgeTrader offers its traders a one-step evaluation program with six different account sizes.
Evaluation program account
The SurgeTrader assessment program is crafted with the intention of identifying and supporting proficient traders, empowering them to amplify their trading earnings. Traders who display consistent performance during the assessment phase will receive rewards. The assessment program provides an account that permits trading with leverage of up to 1:20.
During this evaluation period, traders are required to attain a 10% profit goal while adhering to the maximum daily loss limit of 5% and the maximum trailing drawdown limit of 6%. There are no specific requirements regarding the number of trading days within the assessment period. The sole condition for acquiring a funded account is achieving the profit target.
Upon the successful completion of the assessment phase, traders receive a funded account without specific profit targets. However, they must continue to adhere to the maximum daily loss limit of 5% and the maximum trailing drawdown limit of 6%. If a trader generates profits from the funded account, they can request an initial profit sharing of either 75% or 90% on the first day, provided they are in a profitable position. Subsequent profit payouts can be requested every 30 calendar days.
Furthermore, the assessment program accounts also feature a scaling plan, where traders are expected to achieve a 10% profit target based on their initial account balance. It’s important to note that scaling is capped at a maximum of $1,000,000, and if a trader chooses to scale their account, they will forfeit eligibility for a profit sharing arrangement.
Evaluation program account rules
- The profit target refers to a specific profit percentage that traders must achieve in order to successfully complete an evaluation phase, withdraw profits, or scale their accounts. Evaluation programs have a profit target set at 10%, while funded accounts do not have any profit targets.
- Maximum daily loss represents the maximum amount of loss a trader can incur within a single day before violating their account. Regardless of the account size, the maximum daily loss limit is set at 5%.
- Maximum trailing drawdown is the largest decline in an account balance from its peak to the subsequent lowest point. It is determined by calculating the difference between the highest achieved account balance and the maximum drawdown. For all account sizes, the maximum trailing drawdown is capped at 6%.
- Traders are required to set a stop-loss for every position they open before initiating a trade.Lot size limit imposes restrictions on traders, specifying predetermined lot sizes for specific trading instruments. These lot sizes are typically determined based on the initial account balance of the proprietary firm account. Depending on their account size, traders are allowed a maximum number of lots to open across all pairs at any given time. The lot size limits are as follows:
- $25,000: 2.5 lots
- $50,000: 5 lots
- $100,000: 10 lots
- $250,000: 25 lots
- $500,000: 50 lots
- $1,000,000: 100 lots
- Third-party copy trading risk pertains to the potential drawbacks associated with utilizing copy trading services provided by external parties. It is important to consider that when using such services, other traders may already be employing the same trading strategy. By utilizing third-party copy trading services, there is a potential risk of being denied a funded account or withdrawal if the maximum capital allocation rule is exceeded.
- Third-party EA risk refers to the risks associated with using third-party expert advisors (EAs). When employing a third-party EA, it is important to note that other traders may also be utilizing the exact same trading strategy. By using such EAs, there is a potential risk of being denied a funded account or withdrawal if the maximum capital allocation rule is exceeded.
Enhancements available for your evaluation program accounts
No mandatory stop-loss: A 10% price increment allows for a 10% increase in the purchase price of your evaluation account.
Double leverage (applies to forex pairs and metals): A 25% price increment enables a doubling of leverage for forex pairs and metals within your evaluation account.
90% profit sharing: A 10% price increment entitles you to a 90% share in the profits generated from your evaluation account.
Please note that you have the flexibility to select one or multiple add-on options based on your individual preferences.
What makes Surge Trader different
SurgeTrader stands out from the majority of well-known proprietary trading firms due to its lenient approach to regulating your trading methods. There are no set requirements for the minimum or maximum number of trading days, providing traders with the flexibility to engage in trading activities during news events, hold positions overnight, and even throughout the weekend.
In contrast to other proprietary trading firms, SurgeTrader’s evaluation program adopts a simplified one-phase evaluation structure, where traders must achieve and exceed a specified profit target to qualify for payouts. This evaluation program includes a profit target of 10%, a maximum daily loss limit of 5%, a maximum trailing drawdown limit of 6%, mandatory use of stop-loss orders, and adherence to lot size limit rules. Additionally, there are no specific constraints on the minimum or maximum number of trading days. The evaluation program also features a scaling plan.
In summary, SurgeTrader differentiates itself from the leading proprietary trading firms by maintaining minimal oversight over traders’ trading styles. Notably, the absence of restrictions on the minimum and maximum trading day duration offers significant benefits by eliminating the need for compulsory trades.
Is getting capital realistic
When assessing proprietary trading firms that match your forex trading style, it is essential to evaluate the viability of their trading requirements. While the idea of a company offering a significant profit split on a generously funded account might be attractive, it is crucial to consider the expectations of achieving high monthly percentage gains while keeping maximum drawdown percentages low. Failing to meet these demanding criteria would greatly reduce the chances of success.
Fortunately, SurgeTrader’s evaluation program offers a pragmatic approach with an average profit target of 10% and strict adherence to maximum loss rules (5% maximum daily loss and 6% maximum trailing drawdown). Considering these factors, SurgeTrader stands out as an excellent choice for obtaining funding, as their evaluation program provides traders with realistic trading goals and clear payout conditions.
Proof of Payments
SurgeTrader is a privately-owned trading firm that started operations in June 2021 and completed its registration on September 3rd of the same year.
For SurgeTraders, the initial withdrawal can be requested at any time, but subsequent withdrawals can only be made every 30 days or longer. SurgeTraders are eligible for a profit split of 75%, which increases to 90% with the corresponding account add-on. When making a withdrawal, SurgeTrader also deducts its share of the profits, resulting in a reduction of your equity by the total withdrawn amount.
Evidence of SurgeTrader’s payment transactions is primarily available on their Instagram account, where they consistently post details of payouts made to their traders.
Which brokers does MyFundedFX use
SurgeTrader has effectively integrated its exclusive technology with Eightcap, a reputable brokerage located in Melbourne, Australia, and regulated by the Australian Securities and Investments Commission (ASIC). Established in 2009, Eightcap has a clear and straightforward mission of delivering exceptional financial services to its clients. The company maintains a global presence with five offices around the world, and its regulatory compliance extends to multiple jurisdictions, enabling clients from various regions to participate in trading across diverse markets, including foreign exchange (FX), indices, commodities, and shares.
Eightcap is classified as moderately risky, with an overall Trust Score of 73 out of 99. It offers the following features:
- Forex Trading
- CFD Trading
- Cryptocurrency Trading
- Social Trading/Copy-Trading
- A total of 326 Tradable Symbols
- A total of 45 Forex Pairs
Eightcap provides two distinct types of trading accounts: Raw and Standard. The choice between these two options determines the applicable commissions and fees. For Standard accounts, fees are included in the spread, while Raw accounts are subject to commission-based charges. Additionally, traders should take into account the overnight fee, which represents the interest accrued for holding a position open overnight.
As an exclusive MetaTrader broker, Eightcap grants access to the widely recognized MetaTrader 4 and the newer MetaTrader 5 platforms developed by MetaQuotes Software Corporation. By focusing exclusively on the MetaTrader suite, Eightcap ensures a personalized trading experience and employs an exceptionally efficient technological infrastructure to facilitate seamless trading activities. In recognition of their dedication to excellence, Eightcap received the prestigious Best Global Forex MT4 Broker 2020 award at the Global Forex Awards.
In contrast, SurgeTrader has also achieved continuous success and received two awards for its exceptional services in 2022 and 2023:
- Award from Traders Union – Voted as the best prop trading firm of 2022
- Award from Benzinga – Recognized as the best overall prop trading firm of 2023
SurgeTrader provides its traders with real accounts once they successfully pass the Audition.
Regarding trading instruments, SurgeTrader offers a wide range of options. Traders can engage in forex pair trading, cryptocurrency trading, metals and energy trading, stock indices trading, and trade 90 individual stocks with leverage of up to 1:20.
Education and Support
SurgeTrader lacks any supplementary educational offerings. However, the company does extend the option to access a complimentary trial, which can be initiated by either reaching out to support@surgetrader.com via email or by filling out the designated form. This trial serves as an opportunity for individuals to become acquainted with our trading platforms and regulatory framework, granting them a glimpse into the SurgeTrader trading experience. The free trial empowers novice traders to practice, hone their skills, and refine their trading strategies. Successfully completing this trial substantially boosts one’s chances of achieving success in the SurgeTrader Audition.
It’s important to note that successfully passing the free trial does not grant eligibility for a funded trader account. Only after successfully clearing the SurgeTrader Audition do individuals qualify as funded traders.
SurgeTrader provides a comprehensive FAQ page that contains all the necessary information about the firm. Should you require further assistance, our support team can be contacted through various channels. You can reach out to us via social media or directly at our email address, support@surgetrader.com.
Moreover, we offer live chat support that is available almost 24/7, ensuring prompt and efficient responses to your inquiries. For more immediate assistance, you can contact our support team using the following telephone numbers:
- Toll-free: 866-998-7652
- Direct line: 239-944-5317
Furthermore, SurgeTrader maintains an active Discord channel where our dedicated support team is ready to address any questions you may have. Feel free to engage with us through this platform for further information or assistance.
Clients review
SurgeTrader has garnered excellent reviews from its customers. On Trustpilot, their community has provided a diverse range of positive feedback, resulting in an impressive rating of 4.5 out of 5 stars based on 456 reviews.
The SurgeTrader community has expressed satisfaction with their responsive and helpful customer support. Additionally, they have praised the user-friendly dashboard and the clear trading rules that serve as constant reminders of what’s not permitted within their trading strategy.
Social media stats
SurgeTrader can also be found on social media.
They have a:
- Linkedin page with 1,580 followers
- Facebook page with 3,310 followers
- Twitter account with 6,683 followers
- Instagram profile with 33,2k followers
- Youtube channel has 3,39k subscribers with 147 uploaded videos.
In addition, you can also join SurgeTrader’s Discord channel to talk with other members of their community.
Conclusion
In summary, SurgeTrader stands as a respected proprietary trading firm that offers traders the opportunity to choose from a range of evaluation program account sizes. These evaluation programs involve a single-phase assessment challenge that requires traders to meet specific criteria before gaining access to funding and the ability to earn a share of profits. SurgeTrader requires traders to achieve a 10% profit target before receiving funding, and these goals are realistic due to the enforcement of rules such as a maximum daily loss of 5% and a maximum trailing drawdown of 6%. Through these evaluation programs, traders can earn profit shares ranging from 75% to 90% and also have the option to grow their trading accounts.
I wholeheartedly recommend SurgeTrader to individuals in search of a proprietary firm with clear and fair trading regulations. Despite its relatively recent entry into the market, SurgeTrader offers favorable conditions for a diverse range of traders with unique trading styles. After thorough consideration of all the benefits SurgeTrader offers, it unquestionably stands among the top proprietary trading firms in the industry.
