Surgetrader review
Surgetrader is a new prop trading firm established in May 2021. Their office is based in 405 5th Ave South Naples, Florida 34102. Surgetrader is formed by seasoned forex trading veterans, including brokers and venture capitalists. Obviously their main goal is to help profitable traders capitalize their success by accelerating funding.
SURGETRADER EVALUTION PROCESS
Unlike many other prop firms, Surgetrader evaluation process is different. They call it Surgetrader audition instead of challenge or verification. You only have to pass the trading audition to get real funding. What sets them apart from other proprietary trading firm is that they have no limits on instruments, no minimum trading days, no 30-day mandatory trading period. This basically means you can take your time without worrying or having pressure to finish the audition on time.
After completing step 1, you will progress to step 2 where you become a funded trader depending on the audition you have chosen. You will get a profit share of 75% where the remainder is kept by surgetrader themselves.
AUDITION FEE
If you want to try their service for free trial, you can. However, only upon on request though. Their fee is just one time. No monthly commitment. No hidden fees. Other than that check the fee below.
Their starter fund is from $25k to $100k for seasoned. Profit share is 75% and profit target is 10%. This is great given that there is no mandatory trading period to reach the target. This is good specially when you don’t know what the market is doing and want to trade after the dust settles. The audition fee starts from $200 to $700. This fee should not break your bank. But don’t if that’s the only amount you have left.
Now, the above audition is more gear towards serious traders. For a fee of $1.7k, you will get a fund of $250k to trade with. And for Master or more serious trader, fee of $6.5k gives you a capital of $1M fund. Again profit target remains the same at 10% for each auditions and a daily loss limit of 4%. Do keep in mind of max trailing drawdown is 5%.
SURGETRADER DASHBOARD
Their dashboard is very easy to use. As you can see from above. It shows your:
- daily loss limit
- profit target
- maximum loss limit
- equity
- balance
- program rules
- monthly return
- projected annual return
TRADING RULES
They have 2 main rules.
- Hard breach rule: Don’t hit the 5% drawdown limit. If you hit, your account will be closed. And retake the audition again.
- Soft breach rule: Always trade with stop loss and be flat by Friday market close. Surgetrader will close it on behalf of you should you accidentally or forget to do it. This will not close or fail your account. You can carry on trading.
WHAT TRADING INSTRUMENTS TO TRADE
Well, they have about 360 ish instruments to trade. That is by far more than any other prop firms allows. From forex to stocks/equities, metals to crypto currencies and indexes. You can see the tradeable assets here. MT4 is the platform they allow their trader to trade the instruments.
CUSTOMER SERVICE
Their customer service is top notch. Particularly the chat help. There is always someone to ask if you have questions or email at support@surgetrader.com
