Is SurgeTrader Legit?

Jeremy BiberdorfBy: Jeremy Biberdorf

March 24, 2023March 24, 2023

Update 4/23/2024: Due to recent news and personal experiences with SurgeTrader, we strongly recommend you consider these prop firms instead:
Apex Trader Funding – Save 80% OFF Evals & One day Pass for a Limited Time with Coupon Code FXJEPTUV
Take Profit Trader – Save 50% with Coupon Code MODESTMONEY
TopStep – Save 20% via our link


SurgeTrader

Are you on the hunt for a reputable proprietary trading firm (prop firm) and curious if SurgeTrader could be the perfect fit for your trading aspirations? In this comprehensive article, we’ll delve into the depths of SurgeTrader’s background, services, and unique features that set it apart in the world of prop firms.

Discover why this platform has gained traction among both novice and experienced traders searching for a legit and rewarding trading experience. Get ready to find out if SurgeTrader is the ultimate prop firm solution you’ve been seeking!
Learn More About SurgeTrader

Company Background

SurgeTrader is a proprietary trading firm (prop firm) that provides traders with access to capital and resources to help them succeed in the markets. The company is backed by Valo Holdings and Surge Capital Ventures, two prominent venture capitalists in the financial services industry. This strong financial backing speaks volumes about the legitimacy of SurgeTrader as a prop trading firm.

Established with the goal of helping traders achieve consistent profits, SurgeTrader focuses on nurturing talent and providing a supportive environment for traders to develop their skills. The company’s audition process is designed to evaluate a trader’s abilities and identify those who have the potential to become successful institutional traders. By offering a comprehensive training program and access to advanced trading platforms, SurgeTrader empowers its traders to excel in the markets.

The firm’s flexible trading rules cater to various trading styles and strategies, allowing traders to capitalize on their strengths and market knowledge. In addition to offering a wide range of trading instruments, SurgeTrader provides educational resources to help traders refine their skills and maximize their potential profits.

SurgeTrader’s commitment to transparency and its focus on customer service have earned it numerous positive reviews and a solid reputation within the trading community. With a clear vision and a dedication to helping traders succeed, SurgeTrader has emerged as a legitimate and reliable prop trading firm in the industry.

Customer Reviews

SurgeTrader has garnered a great rating on Trustpilot, boasting a 4.2 out of 5 stars based on 267 reviews. This impressive TrustScore of 4 out of 5 highlights the overall satisfaction of users with the company’s services and support.

In general, customers appreciate the straightforward and efficient funding process offered by SurgeTrader, which allows them to quickly access capital and start making profits. The company’s customer service is also highly praised, with users reporting prompt responses to their queries and helpful assistance when needed.

Many reviewers highlight the value of the structured audition process that SurgeTrader provides, as it helps them stay accountable and develop good risk management practices. The platform’s rules and structure encourage traders to refine their strategies, ensuring they remain disciplined and focused on achieving consistent profits.

While some users have suggested improvements for the retry system, the overall sentiment remains positive, with many traders expressing their appreciation for the opportunities provided by SurgeTrader. The company’s commitment to helping traders grow and succeed in the markets has undoubtedly contributed to its favorable reputation among users.

“Surge trader is not like many firms, they do not waste your time, they give you an opportunity to quickly get funded and on your way to making profits in no time.
The customer service is amazing! Anytime I needed help or an answer to my questions they were very quick to respond. I feel that surge traders are a very consistent company that manage their risks very well and give you multiple chances to get it right.
One thing I can see a little change in is how the retry system works, there are some people out here that does take trading serious and some that don’t, I feel that for the ones who are serious shouldn’t have to continue to pay over and over again for a demo account with fake money, but instead the account should be placed on hold and have the trader go through a series of training and start over and their profit target should be tripled with rules that adjust around them. Trading is very difficult and I’m sure after failing so many times it could deter or create successful surge traders that can help grow this amazing company like I intend to do.”
“risk-to-reward ratio – First, the audition cost me about $200 each time; yes, I did it multiple times. Yes, I could have used one of those free demo accounts, but these have no structure and no rules. I needed a place that held me accountable while testing out different strategies. And Surge did just that. If I tried a trade without a stop loss or went crazy with size, I would get taken out of the trade, so it forced me to always use a stop and think about the risk-to-reward ratio, and in the long run, I think I learned well and looking forward to the future in my fully funded Surge account.”

SurgeTrader Funding Process

A key feature that sets SurgeTrader apart from its competitors is its straightforward and transparent trading rules. The firm sets clear profit targets, maximum trailing drawdowns, and daily drawdown limits, ensuring traders understand the boundaries within which they must operate. The profit split arrangement is also transparent, providing potential users with a clear understanding of the financial rewards they can expect.

The platform provides six distinct tiers of accounts, each with its audition fees, profit targets, and other specific parameters.

  • Starter: With an audition fee of $250, this account offers a balance of $25,000 and a profit target of 10%, which amounts to $2,500. The daily loss limit is set at 5%, and the maximum trailing drawdown is 8%. Leverage is available up to 20:1 for Forex and Metals.
  • Intermediate: This $50,000 account comes with an audition fee of $400 and a profit target of 10%, equaling $5,000. The daily loss limit and maximum trailing drawdown remain the same as the Starter account, and leverage is available up to 20:1 for Forex and Metals.
  • Seasoned: For a balance of $100,000, the audition fee is $700, and the profit target is 10%, translating to $10,000. The daily loss limit, maximum trailing drawdown, and leverage remain consistent with the previous tiers.
  • Advanced: With a balance of $250,000, the audition fee for this account is $1,800. The profit target is 10%, equal to $25,000. The daily loss limit, maximum trailing drawdown, and leverage are consistent with other tiers.
  • Expert: This $500,000 account requires an audition fee of $3,500 and offers a profit target of 10%, amounting to $50,000. The daily loss limit, maximum trailing drawdown, and leverage are the same as the other account tiers.
  • Master: The highest tier, with a balance of $1,000,000, comes with an audition fee of $6,500 and a profit target of 10%, equaling $100,000. The daily loss limit, maximum trailing drawdown, and leverage are consistent with the other tiers.

To become a funded trader with SurgeTrader, there is no minimum number of trading days or unique trades. To pass the SurgeTrader Audition, you simply need to generate a 10% return on your account while not incurring a daily drawdown of 5% or a maximum trailing drawdown of 8%.

Once you’ve passed the SurgeTrader Audition, you can expect to have your funded account set up within 24-48 hours. After that, you will receive an email from the withdrawal payment processor, DEEL, to set up your account. If you breach the trading rules, you may lose access to your account, but you can always start again with another SurgeTrader Audition, receiving a 20% discount for a repeat audition.

As a funded trader, you will trade the same account balance as your SurgeTrader Audition. Upon successful completion of the audition, you will receive login credentials to a live trading account with real funds. Traders are then entitled to 75% of profits generated in the live account, with the option to purchase an add-on for a 90% profit share.

Trading Platforms

SurgeTrader offers a wide range of trading instruments, including individual stocks, forex, and algorithmic trading opportunities. The company’s flexible trading rules accommodate various trading styles and strategies, enabling traders to capitalize on their strengths and market knowledge. Furthermore, SurgeTrader provides educational resources and access to advanced trading platforms to help traders refine their skills and maximize their potential profits.

Trading platforms are an essential aspect of a trader’s success, and SurgeTrader understands this. That’s why they collaborate with various forex brokers to offer users access to cutting-edge platforms for seamless trading activity. These platforms come with tools that enable traders to perform technical and fundamental analysis, enhancing their ability to make informed trading decisions.

Educational Resources

SurgeTrader’s commitment to its traders is evident in the wide range of educational resources available. From trading strategy guides to news trading tips, these resources are designed to improve traders’ skills and help them become consistently profitable. The company also offers add-on purchases, such as additional coaching and mentoring services, which can be invaluable for traders seeking to enhance their trading abilities further.

Final Thoughts – Is SurgeTrader Legit?

SurgeTrader is a legitimate and reputable prop trading firm with a solid backing from experienced venture capitalists in the financial services sector. The firm offers a comprehensive audition process, a diverse range of trading instruments, and transparent rules for traders to follow. Combined with the availability of educational resources and advanced trading platforms, it’s safe to say that SurgeTrader is worth it.

If you’re considering joining a prop firm, SurgeTrader provides an excellent opportunity to showcase your trading skills and grow as a trader. With its straightforward trading rules, wide range of instruments, and potential for high payouts, SurgeTrader can be a great option for experienced traders looking for a challenge or for new traders looking to learn and gain experience. However, it’s important to keep in mind that trading always carries a level of risk, and traders should never invest more than they can afford to lose.

Ultimately, the decision to join SurgeTrader or any other prop trading firm should be made after thorough research and careful consideration of your own goals, risk tolerance, and trading experience. If you do decide to join SurgeTrader, be sure to take advantage of their resources and follow their trading rules to maximize your chances of success. Click here to get started today!

Save 10% with our exclusive coupon code: modestmoney

Get Started With SurgeTrader

Related Links

Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

Leave a Comment

Your email address will not be published. Required fields are marked *