Finding a trustworthy trading platform can be tough, especially as there are so many options out there.
At Forex Prop Coupons, we are prop trading experts with a firm understanding of the different prop firms out there. We compare the different trading platforms and leave honest reviews of each firm – including SurgeTrader.
SurgeTrader has been making waves in the trading community, but is SurgeTrader legit? That’s what we’ll be exploring today. Read on to learn more about SurgeTrader, and to find out whether it is a legit firm or whether it’s a scam. We can help you decide whether this platform is the right fit for you.
What is SurgeTrader?
SurgeTrader is a prop trading firm that has garnered attention for its unique approach to trading auditions. Widely recognised as one of the more lenient trading firms, SurgeTrader offers traders the opportunity to showcase their skills in a single-stage audition.
This one-of-a-kind audition process sets SurgeTrader apart from traditional prop trading firms, making it an intriguing option if you’re looking to enter the world of proprietary trading.
The company was founded in 2021 by a team of experts – a forex trader, an institutional trader, and a venture capitalist. Based in Naples, Florida, they created SurgeTrader to make it easier for people to access trader funding. With SurgeTrader, you can trade various instruments including:
- Forex
- Index funds
- Commodities
- Precious metals
- Cryptocurrencies
Pros and Cons of SurgeTrader
Now you have a brief background on SurgeTrader as a company, let’s explore some of the key pros and cons of the trading platform.
Pros
First and foremost, SurgeTrader is a good option if you’re a beginner. It has an easy-to-use interface, with many people finding it simple and straightforward. Likewise, the rules are clear and easy to follow.
SurgeTrader reviews are positive, with traders praising the helpful support team and fast payouts. Typically, traders receive their payouts within around two days. Likewise, you can receive up to 90% of your profits with SurgeTrader.
Many people also enjoy its only one-stage audition. Unlike multi-stage audition processes that can be time-consuming, SurgeTrader simplifies the process with a single-stage audition.
This can be a great classification for traders looking for efficiency. Finally, there are a range of account sizes to choose from, ranging from $25,000 to $1,000,000.
Cons
Although SurgeTrader has countless positive reviews, it’s important to note that there are several drawbacks to consider.
First of all, withdrawals are limited to one withdrawal per 30 days. This means you’ll need to plan your payouts if you’re looking to withdraw your income.
Additionally, the default profit share is 75%. If you wish to upgrade to a profit split of 90%, you’ll need to pay to customize your plan. If you have a $250,000 trading account, this will cost $360.
Exam costs can also set you back from £250 to £6,500. If you review the trading rules, you’ll also notice that the maximum loss is limited to 5%, which could be a potential drawback for aspiring traders.
Is SurgeTrader a Scam or Legit?
In short, SurgeTrader is a legit company that operates within the bounds of regulatory frameworks, making it a safe option.
Its one-stage audition process and commission-free trading make it an attractive option for certain traders. However, while it seems to be a legitimate and safe company and most users are happy with their trading experience, individual experiences may vary.
As with any investment decision, it’s important that you approach it with caution, conduct due diligence, and consider your specific trading needs. Be sure to check out the terms and conditions. Some traders have been left disappointed after breaking the firm’s rules.
With the right information and resources, you can make an informed choice that aligns with your goals in the exciting realm of prop trading.
How to Get Started With SurgeTrader
Getting started with SurgeTrader is simple. First of all, select your audition type. There are three main options – 1-Phase, 2-Phase and Lightning. As a beginner, you could choose to audition for $10,000 – but if you’re an experienced trader, you could aim for a million. Consider the audition fees, which can vary from $250 to over $6,000.
To start trading with a SurgeTrader account, you’ll need to demonstrate your skills. Be sure to explore their rules and regulations before doing so. Typically, you’ll need to grow your account by 10% without incurring a daily loss of 4% or more.
When you’ve managed to meet their requirements, you’ll gain access to their capital. If you don’t manage to pass the audition, you can retake it until you do manage to do so. In some cases, you may be given a 20% discount for trying again.
Find The Right Prop Firm at Forex Prop Coupons
SurgeTrader could be a great choice for you if you’re looking for a quality, lenient platform with a streamlined audition process and a one-stage evaluation. However, there are a range of other options available.
This is where Forex Prop Coupons come into play. We can be your partner for the best Forex promotions and deals – we understand the importance of finding the best, most profitable prop firm.
We can be the bridge between you and quality trading opportunities. Whether you are a seasoned trader or just starting your Forex journey, we are here to make your experience more profitable and enjoyable.
Liam Quirk is an esteemed entrepreneur with a notable presence in the FX and digital sectors. Liam has strategically invested his funds in forex trading, leveraging his keen understanding of market dynamics and currency fluctuations to optimise his investment portfolio.
