REVIEW
Surge Trader
“Surge Trader: Empowering Investors with Cutting-Edge Strategies”
“SurgeTrader: Empowering Talented Forex Traders with Capital and Opportunity for Unprecedented Success”
The conception of the SurgeTrader initiative emanated from the collective expertise of seasoned Forex traders, brokers, and venture capitalists. It is firmly rooted in the belief that adept traders can attain success given access to capital and opportunities. The primary objective of the initiative was to streamline the funding process for traders and facilitate successful individuals in capitalizing on their skills and accomplishments.
In a manner reminiscent of numerous iconic companies that had humble beginnings, SurgeTrader’s origin traces back to a discussion at a sushi restaurant in Naples. The inception unfolded during a conversation among an FX broker, an institutional trader, and a venture capitalist.
SurgeTrader fosters a culture centered on professional development, urging traders to excel in their careers by empowering them to achieve enhanced profitability through their trading endeavors. Aspiring individuals seeking funded trader status must undergo an audition showcasing their proficiency and dedication to disciplined trading practices. Upon reaching this milestone, traders qualify for a profit-sharing arrangement, with potential payouts ranging from 75% to 90% of their future earnings.
Who are them?
Headquartered in Florida, United States, SurgeTrader is a distinctive proprietary trading firm that extends an exclusive opportunity to ambitious traders to secure funding of up to $1,000,000. Operating under a mutually advantageous profit-sharing arrangement, traders can preserve a substantial portion of their profits, ranging from 75% to 90%. The firm has seamlessly integrated its state-of-the-art 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.
Jana Seaman, the CEO of SurgeTrader, leads a company dedicated to delivering comprehensive business solutions and funding to facilitate remarkable success for enterprises. The organization’s focus lies in enhancing revenue for both small and large businesses undergoing rapid growth. SurgeTrader provides a diverse array 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 actively supports businesses in achieving substantial and sustainable growth.
Drawing on their extensive 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 shapes SurgeTrader’s current mission, which is to expedite trader funding by providing access to institutional capital, including their proprietary resources.
Since its inception, SurgeTrader has experienced impressive growth and cultivated a robust sense of community. Witnessing traders achieve exceptional returns and build thriving careers through trading has been an inspiring journey. The company empowers skilled traders to attain financial independence and pursue a life guided by their genuine passions. The gratification derived from aiding others on their journey to self-empowerment is immeasurable.
Funding Option
SurgeTrader offers its traders a one-step evaluation program with six different account sizes.
Evaluation program account
The SurgeTrader assessment program has been meticulously designed to identify and support skilled traders, enabling them to enhance their trading profits. Traders demonstrating consistent performance during the assessment phase will be eligible for rewards. The assessment program provides an account allowing trading with leverage of up to 1:20.
Throughout the evaluation period, traders must achieve a 10% profit goal while adhering to a maximum daily loss limit of 5% and a maximum trailing drawdown limit of 6%. The assessment period does not impose specific requirements regarding the number of trading days; the sole condition for obtaining a funded account is reaching the profit target.
Upon 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%. Profits from the funded account can be shared at an initial rate of either 75% or 90% on the first day, provided the trader is in a profitable position. Subsequent profit payouts can be requested every 30 calendar days.
Additionally, the assessment program accounts incorporate a scaling plan, wherein traders are expected to achieve a 10% profit target based on their initial account balance. It is crucial to note that scaling is capped at a maximum of $1,000,000, and opting to scale the account forfeits eligibility for a profit-sharing arrangement.
Rules for evaluation program accounts:
Profit Target: The profit target, set at 10%, must be achieved for successful completion of the evaluation phase, profit withdrawal, or account scaling. Funded accounts do not have specific profit targets.
Maximum Daily Loss: Regardless of account size, the maximum daily loss limit is set at 5%, representing the highest allowable loss within a single day.
Maximum Trailing Drawdown: The largest decline in the account balance, capped at 6%, is calculated as the difference between the peak and subsequent lowest points.
Stop-Loss: Traders are required to set a stop-loss for each opened position before initiating a trade.
Lot Size Limit: Restrictions on lot sizes are determined by the initial account balance, with specific limits for various account sizes.
Risks associated with third-party services:
Copy Trading Risk: Using external copy trading services may lead to denial of a funded account or withdrawal if the maximum capital allocation rule is exceeded due to shared trading strategies.
EA Risk: Employing third-party expert advisors poses a similar risk, as other traders may be utilizing identical trading strategies.
Enhancements available for evaluation program accounts:
No Mandatory Stop-Loss: A 10% price increment allows for a 10% increase in the purchase price of the evaluation account.
Double Leverage: A 25% price increment enables doubling of leverage for forex pairs and metals within the evaluation account.
90% Profit Sharing: A 10% price increment entitles traders to a 90% share in profits generated from the evaluation account.
It is important to note that traders have the flexibility to select one or multiple add-on options based on individual preferences.
What's makes it different from other prop firm?
SurgeTrader distinguishes itself from the majority of prominent proprietary trading firms through its permissive approach to overseeing trading methodologies. It imposes no predefined criteria for the minimum or maximum number of trading days, affording traders the flexibility to participate in trading activities during news events, hold positions overnight, and even operate throughout the weekend.
In contrast to other proprietary trading entities, SurgeTrader’s evaluation program employs a streamlined single-phase assessment structure. Traders are required to not only meet but surpass a specified profit target to qualify for payouts. This assessment program encompasses a 10% profit target, a 5% maximum daily loss limit, a 6% maximum trailing drawdown limit, obligatory use of stop-loss orders, and adherence to lot size limit regulations. Additionally, there are no specific restrictions on the minimum or maximum number of trading days. The evaluation program also incorporates a scaling plan.
In summary, SurgeTrader sets itself apart from leading proprietary trading firms by maintaining minimal oversight over traders’ trading styles. Notably, the absence of constraints on the duration of minimum and maximum trading days yields significant advantages by eliminating the requirement for obligatory trades.
Is getting capital real?
When evaluating proprietary trading firms aligning with your forex trading style, it is imperative to scrutinize the feasibility of their trading prerequisites. While the prospect of a firm offering a substantial profit split on a well-funded account may be enticing, it is pivotal to weigh the prospects of achieving elevated monthly percentage gains against maintaining minimal drawdown percentages. Failure to meet these exacting criteria would significantly diminish the likelihood of success.
Fortuitously, SurgeTrader’s assessment program adopts a pragmatic approach, setting an average profit target of 10% and strictly adhering to maximum loss rules (5% maximum daily loss and 6% maximum trailing drawdown). Considering these parameters, SurgeTrader emerges as an exemplary option for securing funding, as their assessment program delineates realistic trading objectives and transparent payout conditions.
Verification of Financial Transactions
SurgeTrader, established as a privately-owned trading firm in June 2021, completed its registration on September 3rd of the same year.
For SurgeTraders, the initial withdrawal can be initiated at any time, with subsequent withdrawals allowable only at intervals of 30 days or longer. SurgeTraders are entitled to a profit split of 75%, which escalates to 90% with the corresponding account add-on. During the withdrawal process, SurgeTrader deducts its share of the profits, resulting in an equity reduction equivalent to the total withdrawn amount.
Documentation of SurgeTrader’s financial transactions is predominantly accessible on their Instagram account, where they consistently disclose details of payouts disbursed to their traders.
which broker they use?
xSurgeTrader has seamlessly integrated its proprietary technology with Eightcap, a well-established brokerage situated in Melbourne, Australia, and regulated by the Australian Securities and Investments Commission (ASIC). Commencing operations in 2009, Eightcap articulates a clear and unequivocal mission of providing outstanding financial services to its clientele. The company’s global footprint encompasses five offices worldwide, with regulatory compliance spanning multiple jurisdictions, facilitating the engagement of clients from diverse regions in trading across various markets, including foreign exchange (FX), indices, commodities, and shares.
Eightcap is categorized as moderately risky, boasting an overall Trust Score of 73 out of 99. It offers a comprehensive suite of features, including:
- Forex Trading
- CFD Trading
- Cryptocurrency Trading
- Social Trading/Copy-Trading
- A total of 326 Tradable Symbols
- A total of 45 Forex Pairs
The brokerage furnishes two distinct types of trading accounts: Raw and Standard. The selection between these alternatives dictates the applicable commissions and fees. Standard accounts incorporate fees within the spread, while Raw accounts are subject to commission-based charges. Traders should also factor in the overnight fee, representing the interest accrued for maintaining an open position overnight.
As an exclusive MetaTrader broker, Eightcap provides access to the widely recognized MetaTrader 4 and the newer MetaTrader 5 platforms developed by MetaQuotes Software Corporation. Focusing exclusively on the MetaTrader suite ensures a tailored trading experience, supported by an exceptionally efficient technological infrastructure that facilitates seamless trading activities. In acknowledgment of their commitment to excellence, Eightcap received the esteemed Best Global Forex MT4 Broker 2020 award at the Global Forex Awards.
In contrast, SurgeTrader has achieved consistent success, securing two awards for its outstanding 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 extends real accounts to traders upon successfully passing the Audition.
Concerning trading instruments, SurgeTrader offers a diverse array of options, including forex pair trading, cryptocurrency trading, metals and energy trading, stock indices trading, and the opportunity to trade 90 individual stocks with leverage of up to 1:20.
Education and support fro traders
SurgeTrader currently lacks supplementary educational offerings; however, the company provides the option to access a complimentary trial, which can be initiated either by contacting support@surgetrader.com via email or by completing the designated form. This trial offers individuals the opportunity to familiarize themselves with our trading platforms and regulatory framework, providing a glimpse into the SurgeTrader trading experience. The free trial enables novice traders to practice, refine their skills, and develop effective trading strategies. Successful completion of this trial significantly enhances the likelihood of success in the SurgeTrader Audition.
It is important to emphasize that successfully passing the free trial does not automatically qualify individuals for a funded trader account; eligibility is granted only upon successful clearance of the SurgeTrader Audition.
SurgeTrader provides a comprehensive FAQ page containing all necessary information about the firm. For further assistance, our support team is reachable through various channels, including social media or the direct email address, support@surgetrader.com.
Additionally, we offer live chat support available almost 24/7, ensuring prompt and efficient responses to inquiries. For more immediate assistance, our support team can be contacted using the toll-free number 866-998-7652 or the direct line 239-944-5317.
Furthermore, SurgeTrader maintains an active Discord channel where our dedicated support team is prepared to address any questions. Please feel free to engage with us through this platform for additional information or assistance.
Trader's comment about it
SurgeTrader has received commendable reviews from its clientele. On Trustpilot, the community has furnished a varied spectrum of positive feedback, culminating in an impressive rating of 4.5 out of 5 stars derived from 456 reviews.
The satisfaction of the SurgeTrader community is evident in their appreciation for the responsive and supportive customer service. Furthermore, they have lauded the intuitive dashboard and explicit trading rules, which act as consistent reminders of the constraints 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 essence, SurgeTrader emerges as a esteemed proprietary trading firm, providing traders the flexibility to select from various evaluation program account sizes. These programs entail a single-phase assessment challenge, necessitating traders to meet specific criteria before gaining access to funding and the opportunity to earn a share of profits. SurgeTrader mandates a 10% profit target attainment for traders to receive funding, a feasible goal supported by the implementation of rules such as a maximum daily loss of 5% and a maximum trailing drawdown of 6%. Through these evaluation initiatives, traders can secure profit shares ranging from 75% to 90% and also have the option to augment their trading accounts.
I unequivocally endorse SurgeTrader to individuals seeking a proprietary firm with transparent and equitable trading regulations. Despite its recent entry into the market, SurgeTrader provides advantageous conditions for a diverse spectrum of traders with distinctive trading styles. After a comprehensive evaluation of all the benefits SurgeTrader offers, it undeniably ranks among the foremost proprietary trading firms in the industry.