SurgeTrader Review
SurgeTrader accelerates your path to becoming a professional trader by putting real capital into live accounts for you to trade. They have a good variety of funded trader programs where you can keep up to 90% of the profits if you successfully pass the audition phase and scale up to $500K.
SurgeTrader are a global prop trading company situated in the US that assists traders from all over the world in maximising their trading profits. You can capitalize on your trading skills and increase your returns when you qualify for a funded trading account from SurgeTrader.
SurgeTrader maintains its openness and transparency in order to build confidence with the trading community. Their partner Valo Holdings provides significant venture capital support to the company and their trader community. As a result, the business’s finances are solid and stable, and capital investments are made with long-term success rather than short-term profit in mind.
The following principles serve as the foundation for the SurgeTrader programme:
- Clear and simple trading guidelines
- No deadlines or time limits
- Simple assessment process
- Exceptional client service
- One-time audition fee
- Easy payout
- Instant funding
The audition and funding process at SurgeTrader as a win-win situation for both the prop firm and trader. You get the chance to manage a large funded account and earn more profit if you pass an evaluation stage. They get a share of the profits for providing you with the funds.
Giving back to communities and to organisations all over the world who are in need of assistance is a core component of who they are at SurgeTrader. They contribute time, money, and resources in social impact programmes because they think that thriving communities can transform the world. This is not something that many prop firms to and highly commendable which shows the good ethics of the company.
Of course, SurgeTrader cannot just give anyone access to a funded trading account without seeing if you actually a good trader. Hence, they provide a range of different programs with various targets and conditions for you to meet in order to qualify. The trading guidelines are clear and uncomplicated unlike some prop firms such as Topstep where they have a long list of numerous requirements.
Take a one-step audition, and if you meet your 10% profit goal, you will obtain a funded account with up to $1 million. There is a standard profit-share of 75%, which can be increased to 90% with an add-on purchase. The programs have clear guidelines, no time restrictions and exemplary client care.
The audition fee pays for SurgeTrader’s numerous running costs, such as staff, technological platforms, customer support operations, marketing, and all other necessary costs for a successful business. The charge also guarantees the trader’s dedication to the procedure and commitment to effective, disciplined trading methods. When a trader has stake in the outcome, so to speak, they are motivated to handle their account carefully and properly.
In the end, the charge is really a mark of commitment that can earn you hundreds of thousands of dollars in actual trading money. For traders, the nicest aspect of this setup is that the only capital at danger is this one. Losses on a live funded account are covered by SurgeTrader, so traders cannot lose more money than this fee.
Serious traders are filtered out by the SurgeTrader Audition fee. The SurgeTrader community can only be successful if it is made up of seasoned traders who can regularly turn a profit. The SurgeTrader Audition process identifies those traders who are dedicated and responsible with the available resources.
In the end, the SurgeTrader programme is a very beneficial service that benefits all parties involved. The service is also fairly priced to encourage a mutually beneficial partnership.
| Starter – $25K | Intermediate – $50K | Seasoned – $100K | Advanced – $250K | Expert – $500K | Master – $1M | |
|---|---|---|---|---|---|---|
| Account Type | Standard | Standard | Standard | Large | Large | Large |
| Profit Share | 75% | 75% | 75% | 75% | 75% | 75% |
| Profit Target (10%) | $2,500 | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 |
| Daily Loss Limit | 4% | 4% | 4% | 4% | 4% | 4% |
| Max Trailing Drawdown | 5% | 5% | 5% | 5% | 5% | 5% |
| Audition Fee | $250 | $400 | $700 | $1,800 | $3,500 | $6,500 |
SurgeTrader Audition
Select your tier, then participate in the SurgeTrader Audition. Utilizing whichever trading strategy that you want, adhere to risk management guidelines and meet the set objectives. There are no restrictions on instruments and 0 minimum trading days. There is no required 30-day holding period like you see with some other prop firms. You just need to achieve a 10% profit target without breaching two straightforward rules.
Once you have passed the audition phase, SurgeTrader will get you into a funded account within 24-48 hours, unlike other prop trading companies that require two business days or more to check and validate your evaluation.
Funded Account
You have succeeded if you complete the audition! You may now use SurgeTrader’s capital to trade your strategy with discipline. You can earn up to 90% of your profits by trading regularly and ethically.
A trader who successfully completes the SurgeTrader Auditions is promoted to a live account with the broker EightCap, where they may trade with real funds and real execution. This stands out from many other prop businesses, where traders never truly trade on a live account and only ever do so in a demo setting.
SurgeTrader finances accounts with real money in actual accounts in an effort to accurately evaluate if a trader’s demo-phase technique would be successful in the real world. They make use of the pricing and execution EightCap has given them to do this. Both the platform and the liquidity are not provided by SurgeTrader, who is not the broker.
Due to their substantial investment in creating a sample pricing feed that closely resembles their live, real-world execution, EightCap is a top broker partner for prop trading companies. This makes sure that a trader who successfully completes the SurgeTrader Audition is subject to the same execution requirements while trading in a real account.
Rules
At SurgeTrader, they make it simple to concentrate on what’s most crucial which is identifying profitable transactions. However, there are still a few basic rules that you need to comply with but nothing like the overwhelming and somewhat confusing list you will find with other prop trading firms.
- A stop-loss is required for each trade.
- All positions must be closed on Friday 3:55 PM Eastern Standard Time.
- Traders may have a maximum number of open lots equal to 1/10000 the size of their account.
In the case of a hard breach during the SurgeTrader Audition, account access will be suspended. Access to a funded trader’s trading account will be suspended if they commit a serious violation of the trading rules. The trader will be paid any gains made at that time.
Limits
If these account limits are exceeded, the trader’s account will be closed, and a reset will be necessary to become eligible for a funded account.
Based on the end-of-day balance from the previous day, they determine the daily loss limit. Every day at 5:00 PM EST, the daily loss cap is reset.
If your end-of-day balance from the previous day was $100,000, for instance, your account would breach when your equity rose to $96,000 that day.
Additionally, since they base the daily stop out level on a percentage rather than a set dollar amount, the wider your daily stop loss is the more money you gain in your account. For instance, if you begin with a balance of $100,000 and increase it to a balance of $110,000, your daily stop out level will change from $4,000 to $4,400.
5% Maximum Drawdown
Trading losses are limited to 5% on a trailing basis, up to the starting balance plus 5%. The trailing drawdown is no longer applicable if a trader has 5% gains in their account, and they are free to withdraw up to their beginning balance before breaching.
4% Daily Loss Limit
Losses cannot total more than 4% of your account value in a single day. Current daily equity is included in the daily loss limit. A trader with a $100,000 funded account, for instance, would be subject to a $4,000 daily loss cap. If the trader made a profit of $10,000, their new daily loss cap would be $4,400, or 4% of their new balance of $110,000.
Single Share Equities
Trading in or holding Single Share Stock CFDs into an earnings release relating to that underlying equity is not authorised. You must close all such Single Share Equity CFD positions by 3:50 PM Eastern Time on the day of the release, if it is an aftermarket release, or on the day before, if it is a before market open release, in order to avoid breaking this requirement. Any gain or loss on the mentioned position will be subtracted from any trader payout calculations if this rule is broken, which will result in an immediate, hard breach of the trader’s account.
Trailing Drawdown
The most your account may deplete before breaking your account is known as the Maximum Trailing Drawdown. The initial level is set at 5% of your account’s opening balance. The trailing maximum drawdown follows you as your account balance rises until you reach your 5% profit objective. They remove the trailing drawdown after you hit your 5% profit goal in your account and enable traders to withdraw all the way back to their beginning amount before breaking the account.
Therefore, the maximum trailing drawdown for winning traders may exceed 5%.
If you have a $100,000 account, for instance, you may reduce it to $95,000 before losing eligibility. Suppose you trade well and earn $4,000 in your account. Currently, your High-Water Mark is $104,000. (balance, so just closed trades). The most you may withdraw is $99,000. You then deposit $1,000 more into your account. Therefore, $105,000 is your new High-Water Mark. It will lock in at this point, meaning that when your High-Water Mark climbs, your maximum withdrawal will grow by more than 5% and remain at $100,000. Let’s imagine your account reached $120,000. Your actual maximum drawdown level is 20% at this time (4x greater).
Positions
Additionally, there is a maximum allowed for open lots. There are ten open lots with risk accessible to you if you are a member of the $100K plan. If you purchase 5 lots of EUR/USD at 1.20 and set your stop loss at 1.18, you would have 5 lots up for trade that are still accessible if all goes according to plan. You would no longer be at danger from that trade if the EUR/USD increased to 1.25 and you updated your stop loss to be at 1.20, which would be your open price. Even though you presently have 5 lots open, you would once again have 10 lots available. If you place too many trades with risk, the system will close out all of the open positions with risk.
Even though you broke the rules, you may still trade if you hit your 10% profit objective and don’t go over your daily or maximum loss limitations. If you do, you’ll be elevated to a live funded account. This is known as a “soft breach.”
Hours
SurgeTrader has no influence over the trading hours since they are determined by the broker, EightCap. On the trading site, under Specifications, traders may see the precise trading hours for each product. You may access this by choosing Specifications from the dropdown menu when you right-click any product in the Market Watch window of the MT4 or MT5 platform.
Payouts
Profit withdrawal requests from SurgeTrader are permitted at any time, but they can only be made once per thirty days. SurgeTrader will also withdraw its portion of the gains when a withdrawal request is made, and the entire amount withdrawn will be deducted from your new highwater equity.
You’ll get an email from the withdrawal payment processor DEEL to set up your account if you pass the SurgeTrader Audition. You will need to give your funded account 24-48 hours to set up once you have created a DEEL account.
Scaling
Starting with a $25K account and going all the way up to a $1 million account, traders can scale up to the next greatest account size and earn at least two times as much buying power. Keep in mind that a trader’s Audition will be invalidated and they will have to try again if they violate their account at any time during the scaling process.
Upon passing the Audition with a 10% profit target, you’ll be presented with two options:
- Go ahead and start earning up to 90% of your profits in your live funded account.
- By generating an additional 10% in profit, you can scale your account to the next biggest account size.
For instance, traders on the $25K Starter Account have the option of scaling their account five times for a starting amount of $1,000,000 at no additional cost.
| Account size | Profit target | Scaled account size |
|---|---|---|
| $25,000 | 10% | $50,000 |
| $50,000 | 10% | $100,000 |
| $100,000 | 10% | $250,000 |
| $250,000 | 10% | $500,000 |
Retry
Traders may always start again with a new SurgeTrader Audition in any scenario. Instead of charging you the entire cost amount, a second audition qualifies for a 20% discount.
Capital
The same account balance as their SurgeTrader Audition will be used for trading. You would handle $500,000 of the prop firm funds in your funded trader account if you traded with $500,000 for the audition.
All SurgeTrader Audition accounts have virtual funds and are demo accounts. Traders obtain login information for a live trading account with real money after passing the audition. Then, with the option to add on for a 90% profit share, traders are entitled to 75% of profits made in the real account.
You may submit an application for another SurgeTrader Audition if you want to trade an account with a bigger account balance. A trader, however, is only permitted to have one account per audition tier. An audition is held for each account, which is distinct.
As an example, if you now trade with a $100,000 account and want to trade more, you may apply for a $50,000 account by passing a $50,000 SurgeTrader Audition. However, as per the Terms & Conditions, such accounts cannot be traded using the same method in order to diversify their risk and exposure.
News Trading
SurgeTrader do allow news trading strategies with the exception of investing in an earnings release using a single share equity CFD. A trader cannot delay a stock transaction until after an earnings announcement. You must close all such Single Share Equity CFD positions by 3:50 PM Eastern Time on the day of the release, if it is an aftermarket release, or on the day before, if it is a before market open release, in order to avoid breaking this requirement. Any gain or loss on the mentioned position will be subtracted from any payment calculations if this rule is broken, which will result in an immediate, hard breach of your account.
Weekend Trading
You can hold trades overnight but not during weekends. By 3:55 EST on Friday, all traders must close their positions. The system will try to liquidate your holdings for you if you don’t close them out before the market closes. However, it is entirely up to the traders to close their positions before 3:55 EST.
Strategies
Your trading style or plan is completely unrestricted. You may use SurgeTrader with any trading strategy, whether it uses algorithmic trading, discretionary trading, hedging, or something else entirely. The sole prerequisite is following the trading regulations.
Leverage
Leverage on Forex, Metals, Oils, and Indices is up to 10:1. Leverage for individual stocks is 5:1. Leverage for cryptocurrencies is 2:1. At checkout, traders may tack on an increase in leverage of 20:1 for FX and metals.
Inactivity
Your account will be inactive if you don’t execute a transaction at least once per 30 days. This is because the broker deletes inactive demo accounts after that time period. However, this is only regarded as a mild breach. If they can restore the account, they will do so. Otherwise, they will establish a new account for you and carry over the highwater mark and accompanying P&L from the inactive account.
Slippage
Slippage is the difference between an order’s anticipated price and the price at which it is actually executed. Slippage may happen at any time but is more common at times of more volatility, such as following a significant economic news event. Between the moment a market order is requested and the time the exchange executes the transaction, slippage happens when the bid/ask spread shifts.
Market orders placed via SurgeTrader’s broker EightCap may sometimes have slippage, as is the case with all exchanges. It is worth noting that neither the broker nor SurgeTrader have any influence over this. During times of strong volatility, traders should be mindful of the potential for slippage and manage holdings accordingly.
Brokers
All trader accounts are maintained by the well-respected EightCap, an ASIC-approved broker. They are a top trading broker with a great choice of financial instruments to trade on user-friendly platforms with tight spreads, low commission fees and reliable execution speeds.
Platforms
The Eightcap MT4 or Eightcap MT5 trading platforms are available to traders, with MT5 giving a greater selection of specific stocks and shares. Their partner broker Eightcap offers all platforms and products. MetaTrader is one of the most popular trading platforms for traders of all experience levels. It is loaded with all of the tools you need to conduct comprehensive market analysis and make informed trading decisions.
Instruments
SurgeTrader provides a broad range of tradable instruments across multiple asset classes including Forex, select equities, major stock market indices, oil, metals and cryptocurrencies. Whatever your interests, there is something for everyone to trade with vary favourable trading conditions.
Training
All traders are given a free 30-day trial membership to BKForex (worth $175), which is run by renowned trading professionals Kathy Lien and Boris Schlossberg. This includes live trade ideas, a 24/7 trader chatroom, exclusive SurgeTrader webinar and much more.
- 3-5 Daily Trade Ideas for Asia & NY Sessions from Kathy
- Live Trading Power Hour Every Day with Boris
- Members-Only Trading Indicators & Strategy
- Kathy’s Proprietary Fundamental Heatmap
- Active Community 24/7 Chatroom
- Forex Trades Targeting 100+ Weekly Pips & 300-400 Monthly Pips
- Gold, CFD, Indices and Stocks Targeting 1% to 2% a Week
- Coaching from Boris and Kathy
- Access to Exclusive BKForex Dashboard & Smartphone App
- 12 Trading Strategy Videos – Instantly Available
- Monthly Trading Webinar
- Monthly Market Outlook Article
Trader Portal
The most successful traders are compelled by numbers. Through the SurgeTrader platform’s user-friendly trader interface, you can keep tabs on all of your trading activity. Everything you require is on a straightforward dashboard where you conveniently analyse your performance and look for areas that you excel in and where things can be improved.
Trading Dashboard
The information on the daily loss cap, profit goal, maximum loss cap, equity, balance, monthly return, and predicted yearly return are all included in trading account dashboards. You will also have access to a thorough account history that includes all transactions that were performed.
Blog
Discover trading-related advice and knowledge, including technical analysis, fundamental analysis, market outlooks, and more. You will also find a handy free eBook for the top 25 most essential rules necessary to become a disciplined trader.
Resources
Discover a plethora of trading-related material, including everything from strategy to risk management to technical analysis. It is good to see a prop firm that supports trader’s education as this is not something that you will always find with others.
| Maximum capital | $500,000 |
| Profit split | Up to 90% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | Yes |
| Maximum leverage | 1:10 |
Overall, SurgeTrader is a trustworthy proprietary trading company that gives traders a choice of several evaluation programme account sizes.
Evaluation programmes are one-phase evaluation challenges that must be completed in order to get funding and be qualified to receive profit splits. Before getting funded, SurgeTrader needs users to accomplish a profit target of 10%, which is a reasonable trading goal given that there are 4% daily loss and 5% trailing drawdown restrictions to follow. With the exception of accounts valued at $500,000 and $1,000,000, evaluation programmes allow you to grow your accounts and receive 75% profit splits.
If you’re searching for a prop company with simple trading rules, you might want to consider SurgeTrader. Despite being a relatively young company, they provide good conditions for a large group of people with various trading strategies. After taking into account all SurgeTrader has to offer, it is clear that they are among the top prop firms in the industry today.
What is SurgeTrader?
Is SurgeTrader a legitimate company?
A small group of seasoned traders gave birth to SurgeTrader, and their combined knowledge inspired the company’s only mission: to accelerate trader financing and encourage successful traders to profit from their expertise.
Who can get a funded account?
Why should I become a funded trader?
You may retain up to 90% of the earnings as a funded trader. For instance, if you only had $5,000 to invest and your trading abilities produced a 30% return one month, it definitely wasn’t worth your time. However, a 30% return on a $1 million account—where you may retain up to 90%—is an extraordinarily greater return on investment.
However, trading is a dangerous endeavour, and even successful traders have times when they break even or suffer losses. You are not liable for any losses while trading with SurgeTrader, which is an evident advantage. SurgeTrader will pay any losses.
More than simply giving you the chance to trade their funds, SurgeTrader enhances your trading by requiring you to follow their simple trading guidelines that encourage effective risk management without limiting your trading choices. Stop overtrading, revenge trading, or using excessive leverage. Joining the SurgeTrader team teaches traders how to handle risk more responsibly.
