Say you want to start trading but you’re stuck with a small budget and limited access to mentors and educational resources. This is where SurgeTrader comes in. But is it worth the investment? In this SurgeTrader review, we’ll take a closer look at its features, benefits, and drawbacks to help you make an informed decision.
SurgeTrader is a prop trading firm that offers an accelerated funding program to help you bypass slow growth and take your trading career to the next level. Read on to find out what makes SurgeTrader stand out and why it’s becoming the go-to platform for traders aiming for success.
What is Proprietary Trading?
Prop trading, or proprietary trading, is an investment strategy that provides traders with the resources and capital to pursue profitable opportunities in the financial markets. This type of opportunity has grown in popularity due to its potential for high rewards while reducing the risk of capital losses.
Traders funded by prop trading firms can specialize in asset classes such as stocks, derivatives, cryptocurrencies, etc. By having access to exclusive information, portfolios can be tailored to each trader’s strengths and preferences.
Companies like SurgeTrader act as a matchmaker between investors looking for returns and experienced traders seeking capital for larger trades. This arrangement is beneficial for both parties involved.
Introducing SurgeTrader – a Prop Trading Firm Unique for its Accelerated Funding Model to Traders
SurgeTrader is revolutionizing prop trading firms with its accelerated funding model, which gives traders greater control over their financial future. This revolutionary platform offers access to various markets and instruments at competitive prices, with reliable access to research and analysis tools.
Thanks to this cutting-edge technology, traders can enjoy faster speeds and more financial opportunities – making SurgeTrader’s approach to prop trading one that cannot be ignored.
What Makes SurgeTrader Unique from its Competitors?
We understand the difficulties day traders face while establishing a new trading career. That is why SurgeTrader offers an accelerated funding model with our one-step audition process to stand out among the rest of the competition. This works to streamline the funding process. Once approved, traders can start trading as they receive an influx of capital. As a result, users can quickly take advantage of trades that other platforms take much longer to fund. The revolutionary funding process of SurgeTrader is designed for speed and efficiency, so aspiring traders like you can get started on their trading journey faster!
How Do Traders Access the Capital of SurgeTrader?
At SurgeTrader, becoming a funded trader is now simpler and more rewarding than ever. The audition process requires only one step, allowing traders to test their trading skills without any time constraints. If you meet the qualifications for funding and acceptance onto the platform, you could be approved for up to $1,000,000 in capital from the firm. This streamlined system demonstrates SurgeTrader’s commitment to making financial trading accessible to all its members.
Here’s the catch: if you want to succeed in the audition, you’ll need to make a 10% profit using three simple rules: don’t forget to set a stop loss; no open positions on weekends; and max lots must be equal to 1/10000 of your trading account size. No need to rush—there’s no time limit or 30-day assessment period either, so you can take all the time you need to get qualified with SurgeTrader.
Wanna take the audition? You’ll have to pay an upfront fee first—SurgeTrader offers six package tiers you can choose from depending on your trading experience and capability. The higher packages come with a steeper price tag, plus a more stringent profit target requirement to pass. SurgeTrader also sets a daily loss limit and max trailing drawdown for every trader on the platform to ensure its capital doesn’t get wiped.
The Six Audition Package Tiers of SurgeTrader
All six packages are under the same 5% daily loss limit and 6% max trailing drawdown. You can also purchase add-ons for an extra 40%, which remove some of SurgeTrader’s restrictions from your trading activity—like no stop-loss, higher profit split of 90%, and doubling the leverage for different instruments.
Here are the six package tiers being offered by SurgeTrader for aspiring traders:
- The $250 Starter Package, with a starting capital of $25,000 and a profit target of $2,500.
- The $400 Intermediate Package, with a starting capital of $50,000 and a profit target of $5,000.
- The $700 Seasoned Package, with a starting capital of $100,000 and a profit target of $10,000.
- The $1,800 Advanced Package, with a starting capital of $250,000 and a profit target of $25,000.
- The $3,500 Expert Package, with a starting capital of $500,000 and a profit target of $50,000.
- The $6,500 Master Package, with a starting capital of $1,000,000 and a profit target of $100,000.
Traders who pass the audition can either stick with the account they chose or move up to a higher tier on their own terms, like re-auditioning the $1,800 advanced package after passing the $400 intermediate one. Achieving the required profit target of $25,000 will see them pass this higher level. However, traders are only allowed to have one account per package tier.
SurgeTrader wants to be part of any aspiring trader’s success journey and offer them a 20% discount on future auditions after their first, regardless of whether they failed due to violating any trading rule. The usual profit split policy applies even if profits are made during unsuccessful attempts.
How can Traders Trade on the SurgeTrader Platform?
Aspiring traders can capitalize on the partnership between SurgeTrader and the reputable broker Eightcap to trade various instruments, including Foreign Exchange (FX), select equities, major stock market indices, oil, metal, and cryptocurrencies.
Eightcap provides traders access to MetaTrader 4 (MT4) or MetaTrader 5 (MT5), offering a user-friendly interface and advanced features like Capitalise.ai, Cryptocrusher, AI-powered Economic Calendar, and Forex VPS. These tools are sure to provide convenient and successful trades.
SurgeTrader allows trading on MT4 and MT5 through Eightcap Raw account types with spreads from 0.0 pips and a $3.5 commission per standard lot.
Pros and Cons of Using the SurgeTrader Platform
SurgeTrader is a prop trading firm that allows traders to get started with a funded account, making it ideal for beginners and experienced investors.
The platform offers several benefits to new traders, such as accelerated funding to cover capital costs and limited risk due to lower leverage options available. Additionally, users can access an extensive customer service network if they need assistance during their trades.
Before joining SurgeTrader, it’s necessary to consider whether you’re prepared for the intense audition process and understand market movements well enough to make tactical decisions in your trades.
For a more comprehensive list of SurgeTrader’s pros and cons, you can look at the table below.
Comprehensive List of Pros and Cons of SurgeTrader
|SurgeTrader’s audition process is straightforward, with uncomplicated rules and no time limits, making it easier and faster for aspiring traders to pass.||To be funded by SurgeTrader, aspiring traders should pay the relevant fee based on their chosen audition package tier.|
|SurgeTrader’s 10% profit target for trading auditions makes it simpler to access its funding model than other proprietary trading firms.||On top of the audition fee, a 40% surcharge is required to access attractive features such as no stop-loss, a 90% profit split, and double leverage (20:1).|
|Traders in SurgeTrader do not need to pay any regular fees while trading.||Even with a discount, repeat auditions require payment. Using paper accounts to practice trading beforehand is recommended to avoid wasting money.|
|SurgeTrader offers paper accounts for traders to practice their strategies before putting them into action in real-time trading.||No refund policy under any circumstance.|
|SurgeTrader provides extra features such as an absence of stop-loss, 90% split-profits, and double leverage (20:1) to make trading more thrilling!||Like any other prop trading firm, restrictions such as the daily loss limit of 5%, trailing drawdown limit of 6%, and a maximum open lots of 1/10000 of your account balance can limit traders in executing a high-risk/high-reward strategy.|
|When you purchase any subscription package tier, all traders get a complimentary 30-day membership to BKForex – including real-time trading ideas, a 24/7 trader chatroom, exclusive SurgeTrader webinars, and more!|
|SurgeTrader has a minimum leverage rate of 10:1, which is markedly lower than other proprietary trading firms – if traders wish to go with lower leverage rates.|
|A 20% discount will be provided to repeat auditions.|
|Legal documents and conditions are available on the website in the public domain. The company will tolerate violations of trading rules, provided they are not systematic.|
What Do Users Say about SurgeTrader?
SurgeTrader generally has favorable reviews on Trustpilot, with a 4.1 rating out of 5 based on 307 reviews and ratings. Other affiliates also have good words to say, such as:
- 5 Best Proprietary Trading Firms: 4.9 out of 5 stars
- Traders Union: 9.2 out of 10 stars
- Modest Money: 4.4 out of 5 stars
- Analyzing Alpha: 4.3 out of 5 stars
- Forex Broker Report: 9.1 out of 10 stars
Actual users praise the straightforward rules and uncomplicated one-step audition process of SurgeTrader’s funding model, which allows them to quickly get started and make money after passing the audition process. The prop trading firm is also commended for its dependable customer service that helps traders in their trading journey.
Screenshots of some positive reviews from actual users can be seen below.
The primary complaint of SurgeTrader is its trading rules, especially the “all positions closed on weekends” rule, which can be inconvenient for traders who prefer long-term trades. This rule is stated on the website, and it is up to the user to agree with it or not.
The customer service adequately addressed all claims of scam from some users, as seen in the screenshots below. It conducted due diligence on the trading activities of these users at the SurgeTrader platform.
Final Verdict – Is SurgeTrader Worth the Investment?
SurgeTrader is an attractive option for traders who want to make money through trading. The one-step audition process and stringent trading rules make it ideal for those who take their trading seriously. With a fast-track funding program and evaluation process, it’s worth considering if you’re confident of your trading abilities. You also can take the audition as much or as little time off as necessary, with no time restrictions. You should consider giving the SurgeTrader audition a shot, if you can comply with its set trading rules.
SurgeTrader allows you to pursue your goals without risking large amounts of money. Their Starter Audition Package, at $250, is a perfect option for those new to prop trading. They offer educational webinars and technical analysis to help traders make more informed decisions and increase their chances of success. Plus, extra features like risk management tools, trading software, and account access can enhance one’s experience.
So why wait? Unleash your true potential and begin trading with SurgeTrader now! Believe in yourself, Grow yourself, and Live yourself! Don’t miss out on this golden chance—start your trading journey with SurgeTrader’s Starter Audition Package today at just $250!
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