SurgeTrader Review

SurgeTrader Ratings at a Glance

Besides a lack of capital and poor risk management strategies, most prop traders fail because of the need to over-leverage trading accounts to make a meaningful return for the time invested in trading. For instance, an annualized 30% return on a $5,000 self-funded trading account is only $125 per month — and it takes countless hours behind the screen to achieve that. Because the outcome is disproportionate to the effort, traders are forced to use massive leverage, as high as 500:1, which amplifies risk if the trades turn against you. In contrast, an annualized return on a $100,000 SurgeTrader funded account is a healthy $1,875 - $2,250 depending on the 75% or 90% profit split. That is much stronger return on the trader’s effort, with no additional risk to the trader.

Although this high leverage can give traders an outsized return on investment, it leaves no room for losses or avoiding margin calls. Through its evaluation process, SurgeTrader seeks to identify traders with sound risk management strategies and talent for navigating the markets. The idea is to provide such traders with adequate funding so they don't have to over-leverage. This approach enables the maximization of profit, resulting in mutual benefits. The evaluation process for all account levels adheres to two simple rules - the hard and soft rules. 

Limits can change daily based on the account’s value, but please remember that these limits are clearly laid out in SurgeTrader’s FAQs. The soft rules include limiting your risks using the stop-loss, closing your positions before weekends and ensuring your maximum open lots equals 1/10,000 of your account size. When you violate the soft rules, your position gets closed while your account remains open. 

In addition to the above two rules, traders must meet the 10% profit target to get funded for each account package. SurgeTrader offers accelerated access to pooled resources in five funded account packages.

The Starter Account

This is SurgeTrader's smallest account size, offering traders access to $25,000 worth of liquid funds for multi-asset trading and a 75% profit split on qualification with a default leverage of 10:1. The audition fee for this package is $250. With an extra $100, you can buy the add-on bundle for this package and enjoy up to 90% payout and double leverage (20:1, which only applies to forex and metals) and trade without a stop loss. You can also pay for each add-on separately, but the bundled pack is more cost-efficient. 

The Intermediate Account

For this account, $50,000 worth of liquid funds is accessible for trading diverse instruments with a default leverage of 10:1 and 75% payout. The audition fee is $400. With an extra $160, you can buy the add-on bundled pack and enjoy up to 90% payout and double leverage (20:1) and trade without stop loss. That way, you can efficiently save on your dollars compared to when you buy them separately.

The Seasoned Account

This package grants you access to up to $100,000 in funding to trade your favorite instruments using your strategy when you pass the evaluation. The audition fee is $700. When you buy the add-on bundled pack at $280, you enjoy up to 90% payout and double leverage (20:1) and can trade without a stop loss. Keep in mind you can always buy each separately, which is not cost-efficient. The 10% profit target means you must earn $10,000 while maintaining the hard and soft rules to get funded. 

The Advanced Account

The advanced account allows you to access up to $250,000 in liquid funds to deliver profitable trading. Auditioning for this account will set you back $1,800, which is understandable considering the large funding size. The 10% percent profit target means that for this account, you'll have to earn $25,000 while complying with the hard and soft rules to get funded. An extra $720 gets you the add-on bundled pack enabling you to trade without stop loss, double your leverage from 10:1 to 20:1 and earn up to 90% payout. 

The Expert Account

The expert account gives you access to a lump sum of $500,000 in liquid funds; however, you must reach a $50,000 profit turnover to qualify in line with the 10% target. Auditioning costs $3,500, and with an extra $1,400, you can buy the add-on bundled pack and save up to 27%. That way, you can enjoy a 90% profit split, double your leverage to 20:1 and trade without a stop loss. You can buy any specific add-ons separately if you don't need others. This account will suit expert traders and professionals trading and risk management strategies. 

The Master Account

The Master account is the top package. Going for this package won't make sense if you've not gained an advanced understanding of the market. It is more suitable for traders with years of market experience. The audition fee is $6,500, and the funding size is $1 million on qualification. You'll need to earn $100,000 in profit while maintaining the hard and soft rules to qualify. Like other packages, the default payout and leverage are 75% and 10:1, respectively. However, purchasing the add-on bundle pack at a 40% upcharge allows you to enjoy up to 90% payout, double your leverage (20:1) and trade without a stop loss. If you don't need all the add-ons, you can purchase the specific package you need.

Scaling Plan

Once you pass the audition or evaluation process, you get funded within two days. You can then trade your favorite instrument to earn payouts. Keep in mind that you can only trade the same account size as your audition. So if you traded $50,000 (intermediate account) during the audition, you'd only be eligible to trade $50,000 worth of SurgeTrader's capital in your funded account. However, you can always scale up to a larger account size. 

Usually, once you pass the audition, you can either get fully funded or scale your account towards higher funding. When you opt for the latter, the audition will continue until you hit the 10% profit target for your new higher account. After that, you're again presented with a choice to either get funded or scale up. You can continue scaling up till you hit the master's account. Remember that should you fail to meet the required profit margins, your account will be reset, and you will need to repeat the audition process. There's a 20% discount for every audition after the first.

Other perks the platform provides include resource-rich blogs, educational opportunities, efficient customer support and BKForex membership. Benzinga rates SurgeTrader 5 out of 5 on product offerings.

SurgeTrader offers phone support nearly 24/7 throughout the year. You can also contact the company through live chat or email. Besides these avenues, you can stay connected with the company via its social media channels, including Instagram, Facebook, LinkedIn, Twitter, Youtube and TikTok. The company has a 4.3 rating on Trustpilot from 375 reviews. As many as 77% of users rated it 5 stars. The excellent ratings put the company's customer service on a superb pedestal. Still, more can be done to improve the rating. Most of the lower ratings were about manipulation (trade slips and unreasonable spreads), which are a function of the brokerage partner’s platform and not controllable by SurgeTrader. However, the support team did well to clarify that their brokerage partner — Eightcap is regulated by the Australian Securities and Investment Commission (ASIC) and is monitored for illegal activities. Benzinga rates SurgeTrader 4.5 out of 5 in customer service.

SurgeTrader adopts the industry-best practice in protecting user data. Personal data shared with the company is handled per applicable legal requirements, such as the California Consumer Privacy Act or European data protection law. Eightcap, the company's partner broker, is subject to ASIC regulation. ASIC is a reputable financial regulator with stringent regulations and compliance. A 128-bit key pair encrypts all transmissions between the MetaTrader platforms and the broker's server. Benzinga rates SurgeTrader 4 out of 5 on security.

SurgeTrader offers a 30-day free demo trial for users who want to have a feel of the platform. There's no sign-up or monthly fee. You only have to pay a one-time auditioning fee to get started. This fee ranges from $250 for the Starter account to $6,500 for the Master account. To maximize your trading experience, you'll have to purchase one or all three trading add-ons. Bundling all three add-ons saves you 27% on the total premium. SurgeTrader offers a 20% discount on auditioning fees on subsequent retries. Upscaling does not attract any extra cost. Benzinga rates SurgeTrader 4.5 out of 5 on pricing.

The SurgeTrader platform is easy to use. You can track all your trading activity, including trading performance and metrics, through its user-friendly trader portal. After the evaluation criteria are satisfied, funding goes live within 24 to 48 hours.

The company's partnership with Eightcap (a leading brokerage partner for prop firms) ensures that retail traders have access to top-of-the-line trading platforms (MetaTrader 4 and 5), thereby facilitating a seamless trading experience on web, desktop and mobile. Traders can access various financial instruments, including forex, stocks, commodities, indices and cryptocurrency. All qualified traders enjoy a 30-day complimentary membership with BKForex, led by renowned trading professionals Kathy Lien and Boris Schlossberg. 

The platform is available globally except in the Balkans, Belarus, Burma, Ivory Coast, Cuba, the Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Syria and Zimbabwe. Benzinga rates SurgeTrader 5 out of 5 on user experience.

SurgeTrader vs. Competitors 

SurgeTrader has many competitors in the prop trading industry. Some of them include TopStep, FTMO and Funded Trader. These platforms allow traders to access otherwise inaccessible trading resources and lump capital to target larger profits or position sizes and deliver profitability by trading diverse investments. 

SurgeTrader's core competitive advantage, which differentiates it from key players in the prop trading industry, is its one-step evaluation process that fast-tracks funding for traders. Unlike most other platform platforms,  SurgeTrader has no minimum trading days or evaluation time limit. 

Additionally, SurgeTrader’s funded accounts are backed by real capital, unlike other firms that simply sell evaluations to cover any losses you might have. SurgeTrader is different because they want you to win, and they continue to win when you’re succeeding. 

SurgeTrader is a well-rounded, funded trading account provider. The company simplifies the entire funding process with its one-step, hassle-free evaluation process. Its end-to-end comprehensive funded account offerings establish it as an industry leader in the prop trading sector. Traders can easily trade flexibly on the web, desktop and mobile. The company has efficient customer service representatives, as evident from Trustpilot reviews. The only downside is the additional add-on purchases for the best trading conditions. Benzinga rates SurgeTrader 4.5 overall.

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