Proprietary (Prop) trading firms have long been the training grounds for ambitious traders looking to trade on a grander scale.
One such firm that has attracted global attention is SurgeTrader. Our in-depth review of SurgeTrader by Traders Union experts aims to shed light on this intriguing prop company, helping you understand its workings, advantages, and possible shortcomings.
With a business model that essentially offers traders a platform to trade significant capital, companies like SurgeTrader are gaining prominence. Hence, an extensive surgetrader.com review compiled by Traders Union becomes indispensable for any trader looking to take their trading journey to the next level.
What is Surge Trader?
Traders Union experts say SurgeTrader is a prop trading firm headquartered in Florida, USA. Backed by Valo Holdings, a well-established venture fund, SurgeTrader offers traders capital ranging from USD 25,000 to manage once they pass a qualifying exam. With venture capital backing, SurgeTrader offers a reliable platform for traders to trade large sums of money.
What are Surge Trader Advantages and Disadvantages?
Every trading platform comes with its unique pros and cons. Our TU experts have dissected SurgeTrader’s offerings to help you understand the platform better.
Advantages of SurgeTrader:
- Reliability: SurgeTrader’s credibility is enhanced through its association with EightCap, a broker regulated by the Australian Securities and Investments Commission (ASIC). This association ensures a secure trading environment, fostering a sense of trust and comfort for traders as they navigate the financial markets.
- Flexibility in Strategies: SurgeTrader stands out for its strategic flexibility. Whether traders prefer algorithmic methods, hedging, scalping, or other strategies, the platform accommodates all within its trading rules. This flexibility allows traders to utilize their unique trading styles and methodologies, fostering an inclusive trading atmosphere.
- High-Income Potential: The platform offers traders an enticing revenue model where they can retain up to 75% of their earned profits. This high-income potential makes SurgeTrader an attractive proposition for traders seeking to maximize their earnings from their trading acumen.
- Broad Range of Assets: SurgeTrader offers a diverse asset palette featuring over 100 instruments. Traders have access to various financial assets, including but not limited to cryptocurrencies, ensuring a comprehensive trading experience catering to varied investor preferences.
- Risk Mitigation: Risk management is integral to SurgeTrader’s model. The firm covers losses if traders adhere to its maximum loss and drawdown requirements, thereby mitigating the potential financial risks and fostering a sense of security among its traders.
- Transparency: SurgeTrader prides itself on its transparency, with all legal documents and conditions available publicly. The platform also accommodates occasional rule violations, provided they aren’t systematic, further emphasizing its commitment to a trader-friendly environment.
Disadvantages of SurgeTrader:
- High Exam Cost: One potential downside of SurgeTrader is the high examination fees, ranging from USD 250 to 6,500. Even with a discount of up to 20% for retests, the cost could deter some prospective traders, particularly those with limited capital.
- Stringent Conditions: SurgeTrader implements stringent trading conditions. The platform has a cap on daily drawdowns at 5%, and the maximum loss is limited to 4%. These strict requirements could pose challenges for traders, especially those new to the financial markets or those with higher risk tolerance.
Evaluation of the most influential parameters of SurgeTrader
TU experts have scored SurgeTrader based on various parameters:
- User Satisfaction: 9.35/10
- Regulation and Safety: 9.6/10
- Commissions and Fees: 9.4/10
- Variety of Instruments: 8.9/10
- Brand Popularity: 9/10
- Customer Support: 9.2/10
- Education: 9.7/10
Trading conditions for SurgeTrader users
According to TU experts, SurgeTrader, via its affiliate EightCap, gives access to over 100 OTC assets. The trading conditions are presented on the broker’s website, with additional conditions for funded accounts available on the SurgeTrader website.
- Trading Platform: EightCap M4 and EightCap M5
- Account: Funded account
- Minimum deposit: USD 250
- Leverage: 10:1 (upgradeable to 20:1 on forex and metals)
- Min Order: 0.01
- Spread: From 1 point
- Instruments: Currency pairs, cryptocurrencies, commodities, stock assets
- Mobile trading: Yes
- Orders Execution: Market execution
- Trading features: Trading through EightCap broker, subject to SurgeTrader terms
- Contests and bonuses: Yes
SurgeTrader commissions & fees
Traders Union analysts found that SurgeTrader, operating through EightCap, doesn’t charge commissions. Instead, it earns 25% of the trader’s profit. However, fees apply to spreads and payment systems.
TU experts have reviewed the Thinkorswim Forex broker, which offers many advantages and features. To read a detailed broker review, please visit the official website of the Traders Union.
Conclusion
SurgeTrader, with its prop trading model, offers an enticing platform for traders. Despite its rigid conditions and higher exam fees, the high-income potential and vast trading instruments make it a compelling choice. As always, we encourage traders to weigh the pros and cons before diving in.
For more comprehensive reviews and insights, visit Traders Union’s official website and continue your journey towards becoming a more informed trader.