SurgeTrader is a Florida-based proprietary firm that provides up to $1,000,000 in capital to committed traders in exchange for a 75% profit split. They have merged their technology with the Melbourne, Australia-based, ASIC-regulated broker EightCap.
They are registered as Surge Capital Ventures, LLC, with registration authority ID RA000603.
Surge Capital Ventures, LLC was established on September 3, 2021, as a Limited Liability Company at 405 5th Avenue South, Naples, Florida 34102. However, their operations began in June. Surge Capital Ventures, LLC has been in business for about a year.
What distinguishes SurgeTrader from other prop firms?
SurgeTrader differs from most industry-leading prop firms in that your trading style is rarely regulated, there are no minimum or maximum trading day’s requirements, and you can trade during news events and hold transactions overnight.
Compared to other prop firms, SurgeTrader’s assessment program consists of a single phase in which traders must reach a profit target before becoming eligible for payments. The evaluation program’s profit target is 10%, with a maximum daily loss of 4%, a maximum trailing drawdown of 5%, a mandatory stop-loss, and lot size limit constraints. Conversely, there is no minimum or a maximum number of trading days. Except for the $500,000 and $1,000,000 accounts, evaluation program accounts include a scaling plan.
In conclusion, SurgeTrader is apart from most industry-leading prop firms since your trading style is rarely regulated. Note that there is no minimum or maximum trading day period, which is a huge plus because you are not required to trade.
Is getting SurgeTrader capital realistic?
When determining which prop businesses best suit your forex trading style, it is essential to consider how realistic the trading criteria are. For instance, a company that offers a high percentage profit split on a well-funded account seems appealing, but if they demand high percentage profits per month with low percentage maximum drawdowns, your odds of succeeding approach zero.
Receiving funds from the assessment program accounts is feasible mainly given that they have an average profit aim of 10% and average maximum loss regulations (4% maximum daily loss and 5% maximum trailing drawdown).
In light of the preceding, SurgeTrader is an ideal choice for becoming financed because the evaluation program accounts from which you can choose all have realistic trading objectives and requirements for receiving payments.
Payment evidence
The proprietary trading firm SurgeTrader was founded in June 2021 and registered on September 3 of the same year.
SurgeTraders can request withdrawals at any time for the first 30 days but only once per 30 days after that. You are entitled to a 75 percent profit split. When the withdrawal request is made. In addition to withdrawing its portion of the earnings, SurgeTrader reduces your new equity by the whole amount of monies withdrawn.
Most payment evidence for SurgeTrader can be found on their Instagram account, where payouts from their traders are posted.
Which broker does SurgeTrader use?
SurgeTrader has merged its technology with the Melbourne, Australia-based, ASIC-regulated broker Eightcap. They were established in 2009 to provide superior financial services to its customers. They have five offices worldwide with rules in several jurisdictions, allowing clients worldwide to trade in FX, indices, commodities, and equities.
With an overall Trust Score of 73 out of 99, Eightcap is rated as having a moderate risk. They possess the following qualities:
- Currency Trading
- Trading CFDs
- Trading Cryptocurrencies
- Copy-Trading and Social Trading
- 5 There are 326 Tradeable Symbols in total.
One of the account kinds is Raw, while the other is Standard. Commissions and costs will vary depending on which of the two options you select. Fees are incorporated into a spread for Standard accounts and a commission for raw accounts. Another price you should always consider is the overnight fee, the interest charged for maintaining an open position overnight. They permit leverage of 1:30, subject to certain constraints based on the size of your trades.
As an exclusive MetaTrader broker, they provide the MetaTrader 4 and MetaTrader 5 platforms from MetaQuotes Software Corporation. Additionally, you can opt to use MT5 TradingView.
They provide a personalized trading experience and an ultra-efficient technical infrastructure for you to trade on, earning them the Best Global Forex MT4 Broker 2020 from the Global Forex Awards.
How do trading accounts with funds work?
Best funded trader accounts have two-step process linked with funded trading accounts. First, novice traders must demonstrate that they can generate profits over a longer time frame. Second, after the evaluation phase, the trader obtains full access to a funded trading account and a revenue share of up to one hundred percent of profits.
