Naples, Florida, is home to the US-based prop company Surge Trader. Starting their business, surge traders have positioned themselves as the prop firm that offers easy, basic rules with various financial instruments. Surge Trader will fund traders who can demonstrate their talent and discipline.
IS IT LEGAL?
They are entirely legitimate. Excellent client service is provided.
How can I get SurgeTrader Funded?
You must pass an audition to demonstrate your trading abilities, risk management, and profitability before you can access funds from SurgeTrader. A one-time cost that varies from $250 to $6500 will require of you, depending on the size of the account you choose. Every Audition account is a practice account with fake funding.
How Can I Pass the Auditions?
Create a return of 10% in your account without exceeding the daily drawdown of 4% or the maximum trailing drawdown of 5%, and you’ll have passed the Surge Audition.
No 30-day evaluation period. No minimum number of trade days
How Does an Audition Go?
Surge trader auditions are among the simplest to pass compared to other prop companies. There is only one step and one price for the audition. There are no additional fees or hidden costs. It has reasonable expectations and allows traders to employ any tactic they choose without time constraints.
Does Surge Trader Permit Subsequent Audits?
No worries if you failed the audition the first time. You may take it one more.
What Comes Next After the Auditions?
You’ll get an automated email message with your new, active account credentials as soon as you pass the auditions. Using the same risk management guidelines without a profit objective, SurgeTrader will get you into a funded account and ready to trade.
Plan for Surge Trader Scaling:
To generate at least two times as much buying power, traders can scale up to the next most immense account size. You will have the chance to scale to the following top account each time you pass the audition with a 10% profit objective.
For instance, traders on the $25K Starter Account can grow their accounts four times to reach a starting amount of $500,000.
What Are the Trading Rules for Surge Traders?
Surge Trader’s traders are expected to execute each trade with a stop-loss.
Due to Surge Trader’s prohibition on weekend trading, all positions must be closed on Friday at 3:55 PM Eastern Standard Time.
You’re good to go aside from that. Even trading news events is possible if you so want.
With Surge Trader, what assets am I able to trade?
You may trade with Forex, cryptocurrencies, commodities, energy, stock indexes, and many individual stocks with SurgeTrader.
There are still margin restrictions for your account, so you might need more money to cover them to trade up to the maximum quantities indicated above. It is according to the official support. For instance, if you are a member of the $100k plan, you will have ten open lots that carry risk.
If you purchase five lots of EUR/USD at 1.20 and set your stop loss at 1.18, you will have five lots open and accessible. Update your stop loss to 1.20, which would be your available price if the EURUSD rises to 1.25.
On that best funded trader accounts, you are no longer in danger. Even though you presently have five lots open, you would once more have ten available. If you place too many trades with risk, our system will close out all open positions with risk.
Although you broke the law, this is only deemed a light breach, which means you may still trade and, should you meet your 10% profit objective (while not exceeding the daily or maximum loss restrictions), be elevated to a live paid account.
Conclusion:
To sum up, SurgeTrader is a trustworthy proprietary trading company that allows traders to choose several evaluation program account sizes.
Evaluation programs are one-phase evaluation challenges that must finish to receive funding and be qualified to receive profit splits. Before getting funded, SurgeTrader needs users to accomplish a profit target of 10%, a reasonable trading goal given that there are 4% daily losses and 5% trailing drawdown restrictions to follow. Except for accounts valued at $500,000 and $1,000,000, evaluation programs allow you to grow your accounts and receive 75% profit splits.
Suppose you’re searching for a prop company with simple trading regulations, SurgeTrader. After considering all SurgeTrader offers, it is clear that they are among the top prop organizations in the sector. Despite being a young company, they provide extraordinary circumstances for a large group of people with various trading philosophies.