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SurgeTrader Reviews And In-Depth Analysis

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SurgeTrader has ceased operations.

Allegedly, Match Trade stopped working with them, and they didn’t have a backup platform to keep their clients trading.

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SurgeTrader is a prop trading firm based in the USA.

In this article, you’ll get a review of this prop firm, including analysis and instructions to get funded with an account from SurgeTrader.

Here’s what you’re going to learn:

What Is SurgeTrader?

SurgeTrader is a prop firm located in Naples, Florida, USA. It was founded recently, in 2021.

What Can You Trade With SurgeTrader?

SurgeTrader is a prop firm that funds traders to trade Forex and other CFDs trading assets.

Here’s a list of all of them:

  • Forex: All major, minor, and even exotic pairs are there if you are a Forex trader.
  • Indices: Traded as CFDs, you have all the important indices available to trade including Dax, Nasdaq, Dow Jones, S&P500, FTSE, and others.
  • Commodities: Crude Oil (Brean and US), Natural Gas, Corn, Soybeans, and Wheat.
  • Metals: Silver, Gold, Platinum, and Copper.
  • Stocks: There was a vast collection of stocks to trade in the past, but apparently SurgeTrader removed them.
  • Crypto: Bitcoin

What Are The SurgeTrader Account Sizes?

SurgeTrader funds traders with account balances quite big when compared to other prop firms. The account sizes go from $25,000 up to $1,000,000.

To get access to a funded account you need to pass an audition. The price of the audition is different according to the account size that you are applying to.

For the smaller funded account, the audition price is $250. This price increases as the account balance increases too and gets up to $6,500 when applying for an audition to trade the $1 million account.

What Is The SurgeTrader Leverage?

Here is where things get a bit tricky.

Although the account balances are big when compared to other prop firms, the leverage provided can be quite small depending on the challenge (or audition) you choose to trade.

The leverage will also depend on the symbol that you are trading. Here’s a full list with the Surgetrader leverage:

1-Phase Auditions and Lightning Round Auditions:

  • Forex pairs: 1:10 (can be increased to 1:20 as an add-on purchase)
  • Metals: 1:10 (can be increased to 1:20 as an add-on purchase)
  • Indices: 1:10
  • Commodities: 1:10
  • Crypto: 1:2

2-Phase Auditions:

  • Forex pairs: 1:50
  • Metals: 1:50
  • Indices: 1:10
  • Commodities: 1:10
  • Crypto: 1:2

How Much Is The SurgeTrader Payout?

The profit split you get on SurgeTrader is related to the Audition/Challenge.

For the 1-Phase and Lightning Auditions, the profit split is 75%/25%. The trader gets a 75% payout and the prop firm keeps 25%.

Regarding the 2-Phase Audition, things are even better. You start with an 80% profit share.

Surgetrader states that these payouts from any Audition can be increased up to 90% with add-on purchases.

SurgeTrader Reviews

According to Trustpilot, SurgeTrader has a great classification. It’s scoring 4.2/5.0.

The only thing is that the number of reviews is small, which is understandable since the prop firm is quite recent.

SurgeTrader Audition Rules

The Audition is the process you need to pass in order to get a funded account from SurgeTrader. The requirements are different depending on the Audition that you are trading.

Unlike other prop firms, SurgeTrader has a potential fast audition process:

  • No minimum trading days
  • No maximum period to complete the audition
  • No minimum number of trades

You just have one target and two rules.

1-Phase Audition

  • Target: Get a 10% profit.
  • Daily loss rule: Never lose more than 5% on any given day.
  • Max trailing drawdown: Maintain a trailing drawdown smaller than 8%.
  • No time limit

2-Phase Audition

  • Target: Get an 8% profit on the first phase and a 5% profit on the second phase.
  • Daily loss rule: Never lose more than 5% on any given day.
  • Max fixed drawdown: Maintain a fixed drawdown smaller than 8%. This drawdown is calculated regarding the initial account balance and doesn’t change no matter how much profit you make. That’s really cool.
  • No time limit

Lightning Audition

  • Target: Get a 5% profit.
  • Daily loss rule: Never lose more than 3% on any given day.
  • Max trailing drawdown: Maintain a trailing drawdown smaller than 4%.
  • Time limit: 7 days.

SurgeTrader EAs (Expert Advisors)

Expert Advisors or bots are allowed to be used in the SurgeTrader programs.

Not all types of expert advisors can be used though. If your EA trades high-frequency or latency arbitrage, you’re not allowed to use it. That’s not a big deal though since the vast majority of EAs don’t work like that.

There are two more rules regarding EA trading.

  • You cannot use the same EA on multiple accounts if you have them.
  • The EA must place a stop loss at the exact time of the entry. The exception is if you bought the No Stop Loss add-on.

SurgeTrader Free Trial

SurgeTrader offers a free trial to test the platforms and the broker. The free trial is just a trial as the name states. To be eligible for a Live Funded account you’ll still need to purchase and pass an Audition.

SurgeTrader Free Repeat

Unfortunately, SurgeTrader doesn’t provide a free repeat for traders who want to try the Audition again.

However, if you open your account using the link below, you get a 20% discount on every repeat. Don’t forget to delete your cookies if you already visited the SurgeTrader website.

SurgeTrader Platforms

SurgeTrader gives you access to the most popular trading platforms used by Forex brokers.

You can use:

  • MatchTrader

SurgeTrader Trading Hours

There’s no requirement to close trades overnight during the week or weekend.

You can hold your trades for as long as required according to your trading style.

SurgeTrader News Trading

There is no problem in trading news or holding trades during news releases.

But there’s always an exception…

And here the exception is for stock trading when there are stock earnings releases. You are required to close your stock position if your stock is going to release earnings. Positions must be closed by 3:50 PM Eastern Time on the day of the release so you must be careful with the stock market closing time.

I also want to clarify that this applies only to the single stock that is having earning releases. Any other stocks that you hold are not affected by this.

Is SurgeTrader Legit?

Yes, SurgeTrader is a legit company.

Here are the contacts to reach them:

  • Email: info@surgetrader.com
  • Phone (toll-free): 866-998-0883
  • Phone (direct): 239-944-5317
  • Address: 405 5th Ave South Naples, Florida 34102, US

SurgeTrader Alternatives

Here’s the list of the best SurgeTrader alternatives:

For more alternatives check our alternative prop firm tool:

Get Alternatives To Any Prop Firm

Recap

  • SurgeTrader is a prop trading firm based in Florida, USA.
  • You can get a funded account with up to $1 million in balance and up to 90% profit split payout.
  • To get access to a funded account you need to pass an Audition which can have 1 or 2 phases.
  • The Audition doesn’t have any time limit or maximum time to be done, unless for the Lightning Audition where you must complete it in 7 days.
  • You can trade Forex, Indices, Metals, Commodities, and even Crypto with SurgeTrader.
  • The popular MatchTrader platform is available to trade.

Learn More

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