SurgeTrader Review 2023

What is SurgeTrader?

Surge Trader is a prop firm that resulted as a joint effort of an institutional trader, a venture capitalist, and a forex trader. These three individuals wanted to create a prop firm that simplified the path to trader funding, offering straightforward trading rules and minimal limitations.

Currently, Surge Trader is one of the more lenient trading firms. The platform offers a profit split of up to 90%, supports a wide range of trading instruments (beyond individual stocks), sets no minimum trading days requirement, and allows traders to use whatever strategies they deem necessary to succeed.

Whether your preferred style is news trading, algorithmic trading, hedging, or something else, SurgeTrader will allow you to maximize your trading profits using their funding.

Features

The main appeal of SurgeTrader is its simple rules for all trading accounts. Unlike other prop firms, Surge Trader sets uniform trading conditions & trading requirements—such as a 4% daily loss limit, 5% maximum drawdown, and 10% profit target—across all account levels.

The platform supports nearly all trading techniques (such as news trading or hedging), 100+ trading instruments, and even offers educational resources to its members.

Pricing & Plans

Like most prop trading firms, Surge Trader offers a variety of funding levels. As such, the fees you will need to pay can vary quite widely. Let’s take a look at the specifics!

Free

If you’d like to give SurgeTrader a try without making a commitment, the platform does offer free 30-day paper trading accounts. Although any progress you make using one of these accounts won’t count towards a SurgeTrader audition attempt, it still gives you time to familiarize yourself with the platform in a stress-free environment.

Paid

SurgeTrader offers funding from as little as $25,000 to a maximum of $1,000,000. The amount you must pay for an audition attempt will depend on the amount of initial funding you’d like.

It’s important to note that you can scale up your account towards a higher funding limit. However, if you should fail to meet the required profit margins, your account will be reset and you will need to repeat the audition process all over again.

Below, we’ve listed the current funding options & applicable fees:

• $25k of funding – $250 per audition
• $50k of funding – $400 per audition
• $100k of funding – $700 per audition
• $250k of funding – $1,800 per audition
• $500k of funding – $3,500 per audition
• $1m of funding – $6,500 per audition

Limitations

Although SurgeTrader is certainly an excellent prop firm, there are a few drawbacks & limitations that you’ll want to be aware of. First, you’ll only be able to pay for your account using a debit/credit card or a PayPal account: no other payment options are supported at this time.

Second, any withdrawals you wish to make will be limited to once per 30 days. As such, you’ll need to schedule accordingly if you’re expecting consistent income from Surge Trader.

Lastly, the profit split is set to 75% by default. To reach the advertised 90% profit share, you will need to pay for a profit split add-on, which will set you back $360.

Is SurgeTrader Right for You?

Staying within a 4% daily drawdown and a maximum trailing drawdown of 5% while also achieving a profit target of 10% is doable, but it’s certainly challenging. For this reason, we would recommend SurgeTrader—as well as most other prop firms—for advanced investors only.

Do you see yourself being able to take full advantage of an up-to-90% profit split and reaping big rewards? If so, then SurgeTrader could be the platform for you. Click here to start trading today!