SurgeTrader review: A streamlined path to funded trading
Proprietary trading firms, or “prop firms,” are specialized companies where trades are executed using the firm’s capital rather than clients’ funds. The primary goal is to generate direct profit for the company rather than earning commission from client trading activity. This form of trading enables firms to take on more risks and aggressively pursue higher profits.
Now, let’s turn our attention to SurgeTrader, a prop trading firm registered under Surge Capital Ventures. SurgeTrader operates with an innovative approach that distinguishes it from many other prop firms. Its primary appeal lies in its simplified and streamlined process of funded trading. Unlike the typical prop firms’ complex, multi-stage evaluation processes, SurgeTrader simplifies the journey with a one-stage “audition.” It allows skilled traders to complete the audition and access funding quickly, thus expediting their trading journey.
SurgeTrader review: The key features
Uniform trading conditions and requirements
SurgeTrader stands out for its clear and uniform trading conditions, regardless of account size. This approach promotes transparency and allows traders to know what to expect. It eliminats the need to adjust to different rules for different account levels.
As mentioned before on this SurgeTrader Review, the platform supports a wide array of trading techniques. Moreover, it enables trading of different CFD market instruments, including FX, cryptocurrency, metals and energy, stock indices, and individual stocks.
SurgeTrader also offers educational resources to its members to support their trading journeys, including webinars and access to a diverse community of traders.
The pros & cons
SurgeTrader has many benefits that distinguish it from other prop trading firms. Some of these advantages include:
- No minimum or maximum trading days requirement: Unlike other platforms, SurgeTrader does not impose any time limits on trading. This freedom allows traders to trade at their own pace, for a single day or over an extended period.
- One-stage audition process: SurgeTrader simplifies the path to funded trading with its single-stage audition process.
- Wide range of supported trading styles: With SurgeTrader, traders are not boxed into a specific trading strategy. The platform supports a broad spectrum of trading styles, from news trading and hedging to algorithmic trading.
You can read more about these advantages on Modest Money, where they have provided a comprehensive review of the best prop trading firms, including a SurgeTrader Review.
However, despite the many advantages, SurgeTrader also has a few limitations:
- No futures or options trading: SurgeTrader, as noted in a World Financial Review article, does not support futures or options trading. This limitation may affect traders who rely heavily on these instruments for their trading strategies.
- 75% default profit payout: SurgeTrader’s standard profit split is at 75%, which may not appeal to all traders. To achieve a higher profit split of 90%, traders must purchase a $360 add-on, as discussed in a Market Business News review.
- No refunds offered: In line with most prop trading firms, SurgeTrader does not offer refunds.
For traders looking to reduce costs when joining SurgeTrader, you can find information on available discounts at Modest Money’s SurgeTrader Coupon Code page.
The ideal SurgeTrader user: Profitable traders seeking quick access to funded trading
The SurgeTrader platform has been designed to meet the needs of profitable traders seeking access to funded trading.
The platform’s flexibility in supporting various trading styles is another boon for profitable traders. Therefore, traders who wish to leverage their trading skills and strategies without undergoing a protracted evaluation process will find SurgeTrader an ideal platform.
Moreover, SurgeTrader sets simple trading rules, such as a 4% daily loss limit, a 5% maximum drawdown, and a 10% profit target. These guidelines are uniform across all account levels and provide traders with a clear framework to work within, eliminating guesswork and promoting disciplined and effective trading.
SurgeTrader trading rules
Understanding a trading platform’s rules is crucial to ensure a smooth and efficient trading experience. Here, we address some of the most frequently asked questions regarding SurgeTrader’s trading rules:
- Overnight and weekend positions? Yes, you can hold trades overnight and over the weekend on SurgeTrader. However, holding a stock trade overnight into an earnings release is not permitted. Traders must close all Single Share Equity CFD positions by 3:50 PM Eastern Time on the day of the release or the preceding day if before the market open release.
- Trading strategies: SurgeTrader does not limit your trading style, as long as it is within the rules. It includes discretionary trading, hedging, algorithmic trading, and more.
- Trading into earnings releases: As previously mentioned, holding a stock trade into an earnings release is not allowed on SurgeTrader.
- Trading news: News trading is permitted on SurgeTrader, except for holding a Single Share Equity CFD into an earnings release.
- Number of lots permissible: The maximum number of open lots with risk depends on your account size. A $100K account can have up to 10 lots open with risk. This increases proportionally with the account size and doubles if you purchase the double leverage add-on at checkout.
- Leverage: SurgeTrader provides different levels of leverage. For instance, FX, Metals, Oils, and Indices get up to 10:1 leverage, Individual stocks get 5:1 leverage, and Cryptocurrencies get 2:1 leverage. If you opt for the double leverage add-on at checkout, leverage for forex and metals increases to 20:1, and your max open lots doubles.
Understanding and following these rules can significantly enhance your trading experience with SurgeTrader, promoting prudent and disciplined trading while allowing flexibility in your trading strategies.
Pricing and plans: Free paper trading accounts and paid plans
Before diving into the live trading world, SurgeTrader allows traders to practice their strategies and get a feel for the platform with a free 30-day paper trading account. This risk-free environment provides an excellent opportunity for potential traders to gain experience and confidence before transitioning to real trading.
After the free 30-day paper trading period, traders who wish to continue with SurgeTrader need to select a paid plan. The firm offers various account sizes, from $25,000 to $1,000,000, with corresponding audition fees. Traders who successfully pass the one-stage audition process by staying within the 4% daily drawdown and a maximum trailing drawdown of 5%, while achieving a profit target of 10%, will be provided with a funded account. The process to scale up your account is equally transparent and straightforward, allowing successful traders to steadily increase their trading capital.
Conclusion: Is SurgeTrader right for you?
In conclusion, SurgeTrader is an ideal platform for profitable traders who demonstrate consistent success in their trading strategies. It offers a direct path to funded trading, clear and straightforward rules, and supports a variety of trading styles. Its one-stage audition process and the absence of time limitations make it an attractive option for experienced traders aiming to access substantial trading capital swiftly.
However, it is crucial to weigh the platform’s strengths and limitations. The restrictions on payment methods, monthly withdrawal limits, and additional fees for a higher profit split might not suit everyone’s preferences or trading style.
Therefore, if you are a trader with a proven track record, it is worth considering whether SurgeTrader aligns with your trading objectives and financial goals. This platform could be your key to unlocking the door to greater capital and profit-sharing opportunities. If this SurgeTrader Review sparks your interest, explore more about the platform and its offerings here.