Surgetrader Review

SurgeTrader Review: Legit or Scam? Unmasking this Prop Firm!

Hi, it’s my pleasure to have you read SurgeTrader Review.

In most cases, choosing a company that can help you grow your career when trading in the forex market becomes tricky.

This is especially true when you want the company to fund you to manage your business to earn more.

However, many prop firms claim to help traders finance their business in the forex market through their live-funded accounts.

But not all prop firms are legit; some end up misleading traders while others have unrealistic trading rules.

So, to avoid making mistakes, you must do adequate research on a prop firm before joining it.

Surge Trader is one of the prop firms that claim to be effective in helping you nurture your career online.

Joining the platform based on its claims may be tricky.

If you want to learn more about this platform, here is where to get everything you need.

I will provide you will a detailed explanation of the program.

Let’s begin…

MAJOR UPDATE! – According to a press release from the website, the founders of Surge Trader have been Charged with Operating a $35 Million Ponzi Scheme that Targeted Church Members.

As a result, I am not recommending this trading prop firm to you.

Instead, I would recommend The Funded Trader as a more secure and reputable option for your trading endeavors.

The Funded Trader has garnered a solid reputation in the industry and offers a transparent and trustworthy platform for aspiring traders.

With a proven track record of success and positive feedback from their clients, The Funded Trader provides a structured and supportive environment to help traders thrive.

In light of the recent news surrounding Surge Trader, it’s crucial to prioritize safety and due diligence when selecting a prop firm.

The Funded Trader’s commitment to compliance and ethical practices ensures that your investments are in reliable hands.

Don’t let the fraudulent actions of a few tarnish your trading aspirations.

Choose The Funded Trader for a reliable and rewarding trading experience.

Remember, caution and informed decisions are key to success in the financial markets.

Read the full press release from SEC: HERE

Table of Contents

Summary of Surgetrader Review

Product Name: Surgetrader

Product Type: Proprietary Firm

Evaluation Fee: Starts from $250, depending on your chosen account size.

Official Site:

Overall Rating: 5/10

My Recommendation: It depends; kindly read my review to see why

Surgetrader Review – Overview

Surgetrader Review

There have been an increased number of prop firms online, all claiming to be the best in providing capital to traders.

Surgetrader is among the pro firms, claiming to offer you an opportunity to trade in the forex market.

The program makes everything possible through their live funded account, where you’ll trade real company capital.

There are many big claims made by Surgetrader to their traders, which you must first analyze.

For instance, the program claims to offer you a profit share of 90% and allows you to trade various assets such as cryptocurrency, forex pairs, etc.

The program claims that every talented trader should get the opportunity to grow their career online.

So, to justify these claims, let’s look at the prop firm in detail.

Pros Of Surgetrader

  • Surgetrader offers you a capital of up to $1,000,000.
  • The prop firm has an excellent rating on trust pilot at 4.5/5.
  • Profit share is high, starting from 75% up to 90%.
  • The prop firm offers real accounts in the live funded account.
  • News trading is allowed on the platform.
  • Surgetrader does not set any minimal trading days for traders.
  • It only has one step evaluation process.
  • Surgetrader allows you to hold a trade overnight and during the weekends.

Cons Of Surgetrader

  • The prop firm requires a stop loss for every trade you place on the platform.
  • The maximum open size in the platform is 1 lot per $10,000.
  • The trailing drawdown percentage is small.
  • Found to be Operating a $35 Million Ponzi Scheme

Who Should Sign Up with Surgetrader?

Anyone who is more than 18 years is eligible to join the Surgetrader and get a funded account.

You should also pass the Surgetrader evaluation stage to get the funded account.

In addition, you must demonstrate your profitability and be more responsible in risk management before you join the platform.

If you have got these qualities, you can join the prop firm.

In addition, becoming their funded account trader enables you to benefit from other services and offers on the platform.

Also Read: BTFX Capital Review

What Is Surgetrader?

Surgetrader Review

Surgetrader is a proprietary firm based in the USA, headquartered in Florida 34102, Naples, and 405 5th Ave. South.

The prop firm was launched in 2021 in August in Delaware and September in Florida.

Surgetrader offers traders a capital of up to $1,000,000 to trade in the forex market and earn a profit share starting from 75%.

When you are highly motivated and profitable, you’ll consistently have your profit share increased to a maximum value of 90%.

Surgetrader integrates its technology with its trusted broker, which in this case is ThinkMarkets (This is a recent change. The first broker was Eightcap).

The ASIC regulates the broker found in Melbourne, Australia.

The main aim of the Surgetraders is to offer business solutions and funding to help traders support their businesses.

The prop firm expects its traders to achieve remarkable results and success after receiving support from the company.

Besides funding traders, the company provides leadership coaching, operational management, and employee onboarding services.

How Does Surgetrader Work?

Surgetrader Review

Surgetrader allows you to trade in the forex market through their live-funded account.

In their live funded account, you’ll trade with the company’s Capital and earn a profit share, which can go up to 90%.

However, before entering their live-funded account, you must pass through their evaluation stage.

The prop firm uses the evaluation stage to analyze if you’re a profitable trader and can consistently earn profits in the forex market.

There is only one evaluation stage in the Surgetrader platform.

Let’s go through what is in their evaluation stage.

Surgetrader Audition

The Surgetrader audition is the first stage, where traders are evaluated before they become traders with a funded account.

To get started in the Surgetrader audition, you must first sign up to the platform and choose your trading account options.

There are up to six trading accounts you can choose from which include the following:

  • The starter account
  • Intermediate account
  • Seasoned account
  • Advanced account
  • Expert account
  • Master account

After choosing your trading account option, you’ll have to pay its corresponding amount, as explained in the pricing section of this review.

After you’ve paid, the platform enrolls you to begin your evaluation stage.

To pass the evaluation stage and get a funded account, you’ll have to meet the following conditions:

  • Have a profit target of 10% in your trading.
  • You must respect a daily loss limit of 5%.
  • Trading leverage of up to 20:1, which you must respect.
  • You must respect the Maximum trailing drawdown of 6%.

After meeting these conditions, you’ll then pass the evaluation and get a live-funded account.

However, before you’re given the live funded account, you should set up your account by registering in their Deel program.

Registering in Deel makes it easier to withdraw your profits when trading with the live-funded account.

Funded Account

Unlike in the evaluation stage, where you traded with a demo account, the funded account allows you to trade with real money.

The company provides Capital similar to the account balance you used to trade in the Surgetrader audition.

You’ll trade in the forex market and get their standard profit share which stands at 75%.

However, this profit share increases as you consistently make more profits in the program and can reach a maximum percentage of 90%.

When trading with the live funded account, no profit target is set for you, allowing you to set unique targets.

In addition, the standard leverage in the funded account is 20:1 with an additional add-on purchase and supplies, which applies only to metals and FX.

In the live funded account, you can hold your traders during weekends or trade on weekend days as desired.

However, you must respect the daily loss limit of 5% and the maximum % trailing drawdown of 6%.

Failure to respect these two rules will land you breaching and let your account get disqualified.

When you succeed in making profits in the funded account, you can make profits based on your account size and consistency in trading.

The program allows you to withdraw your profits as follows:

What Are Surgetrader Withdrawals?

Surgetraders can withdraw profits any time they want in the trader dashboard.

However, you can only withdraw profits once every thirty days.

So, if you make profits on your day in trading, you can apply for withdrawal and have your profits in your pocket.

There is also an option to leave your profits in your account to expand your size.

By expanding your account size, you will likely qualify for the scaling plan available in the program.

If you want to withdraw your profits, simply click the withdraw profits provided in the dashboard.

You will then enter the amount you want to withdraw, which should not exceed the profits you have in your account.

All the profits in the platform are distributed according to the partnership with Deel you registered when setting up your funded account.

So, when the Surgetrader platform approves your withdrawal request, your profits will be posted into your Deel account.

From your Deel account, you can withdraw the funds to any of the methods available in the platform, including; credit cards, PayPal, debit cards, and cryptocurrency.

When you withdraw your profits, the Surgetrader prop firm will also withdraw its profit share from your account.

The maximum trailing drawdown will lock in at your starting balance and does not reset if you submit a withdrawal request.

What Information Are Available In The Surgetrader Dashboard?

When you open the dashboard of the Surgetrader, you’ll find the following features:

  • Daily loss limit
  • Maximum loss limit
  • Profit target
  • Balance,
  • Equity
  • Comprehensive account history

What Are The Trading Rules Used In Surgetrader?

Here are the trading rules used in the Surgetrader you must respect:

  • Maximum Daily Loss Limit Of 5%.

The maximum daily loss limit in the platform is set at 5%, which applies for both the Surgetrader audition and the live-funded account.

The daily loss limit in the platform is calculated based on the end balance of the previous day, which resets at 5 pm every day.

For instance, if your end-day balance is $100,000, your account will be breached when your equity reaches about $95,000.

This means that you shall have violated the maximum daily loss limit.

The daily loss limit does not change; the rules apply to all levels from the time of purchase on the platform.

  • The Maximum Trailing Drawdown Is 6%.

The maximum trailing drawdown of 6% applies to both the demo Surgetrader audition and live-funded trading accounts.

Breaking this and the daily loss limit rule will constitute a hard breach where your account will be disqualified.

How to calculate maximum trailing drawdown;

Your account’s initial or standing balance calculates the maximum trailing drawdown.

For example, if the starting balance of your account is $100000, then the 6% maximum trailing drawdown will reduce it to $94,000.

Your account balance can go down to $94,000 before being disqualified.

So, if it goes below $94,000, you shall have violated the rule under hard breach, and your account will be revoked.

You’ll only have one option of repeating the Surgetrader audition for you to get the funded account and start trading again.

Note that all the account sizes are subjected to the Maximum trailing drawdown rule and maximum daily loss rule.

  • The Trading Hours

The single Stock CFDs on a normal market day always open 5 minutes after and close 5 minutes before the normal USA stock market hours.

You can trade at longer hours as you want, with the company allowing you to trade overnights and during the weekends.

Note that a trader cannot hold a stock trading overnight into an earnings release.

You must close the single share Equity CFD position at about 3:50 pm to prevent being in a breach.

  • Trading Lots

The company allows traders to open a maximum number of trading lots with a risk of 1/10,000 of the account size.

Here are the maximum number of open trading lots you can have for each account size:

$25,000 account with maximum trading lots of 2.5, including risk.

$50,000 account with maximum trading lots of 5, including risk.

$100,000 account with maximum trading lots of 10, including risks.

$250,000 account with maximum trading lots of 25, including risk.

$500,000 account with a maximum trading lots of 50, including risks.

$1,000,000 account with maximum trading lots of 100, including risk.

  • News trading

Surgetrader allows you to trade news except by holding a single share equity CFD into an earnings release.

  • Trading Strategies

Surgetrader doesn’t limit traders in the strategies they want to use.

You can use several strategies, including algorithm trading, hedging, discretionary trading, or anything else you feel like using to trade.

Provided you adhere to the trading rules in the program, you will be safe to use any trading strategy you want.

Trading Leverage

The trading leverage in the platform is as follows:

FX, Oils, Metals, and Indices have leverage of up to 10:1.

Individual stocks have a leverage of 5:1.

Cryptocurrencies receive leverage of 2:1.

However, the program allows you to increase the leverage to 20:1 by purchasing an add-on at checkout.

  • Account Deactivation

If you fail to place trades at least once in thirty days, you’ll risk your account being deactivated.

The broker will be responsible for deleting the inactive accounts after thirty days.

How this rule falls under soft breach, which means that you have the option to reinstate the existing account and continue trading.

What Is The Surgetrader Scaling Plan?

Surgetrader offers traders a scaling plan to help them increase their account size to a maximum balance of $1,000,000.

Here is how the scaling plan works:

You’ll begin by choosing your preferred account size and enroll your Surgetrader edition.

When you pass the Surgetrader audition with a profit target of 10%, you’ll have two options to choose from:

Option One: Claim Your Funded Account

In this option, you will proceed with your funded account and earn up to 90% profit share.

Option Two: Scale Up Your Account

In this second option, you can scale up your account to get the next largest one, where you can maximize your profits.

To scale up your account, you must reach a profit target of 10% in your live-funded account.

For instance, if your initial account balance in the live funded account is $25000, you can scale the amount to a maximum balance of $1000000.

There are no minimum trading days set for you in your live-funded account.

What Is The Surgetrader Trusted Broker?

UPDATE: SurgeTrader has changed brokers from Eightcap to ThinkMarkets.

ThinkMarkets is a respected online broker, regulated by the FCA and ASIC.

They specialize in a wide range of trading assets, including Forex, Shares, Indices, Precious Metals, Commodities, and Cryptocurrencies.

Under the supervision of the FCA and ASIC, ThinkMarkets operates within strict guidelines, prioritizing the security of its services.

The FCA ensures trader and investor protection, while ASIC promotes transparency in financial markets.

ThinkMarkets offers diverse trading options such as Forex, Shares, Indices, Precious Metals, Commodities, and Cryptocurrencies, catering to various trader preferences.

By providing access to these assets, ThinkMarkets enables traders to diversify portfolios and seize opportunities across different sectors, reflecting their forward-thinking approach.

Surgetrader partners with the Eightcap broker regulated by ASIC in Melbourne, Australia.

The broker was launched in 2009 to offer exceptional financial services to clients.

Their quality services make their clients build trust working with them and boost their reputation in the market.

Eightcap brokers have up to eight offices worldwide to offer their clients reliable services.

The broker allows traders to trade indices and markets across FX, shares, and commodities.

Eightcap Broker has a trust score of 73 out of 99 and is considered an average risk-free broker.

The broker has two account types, namely, the raw account and the standard account.

The fees and commission will depend on the type of account you choose from the broker.

It is the only broker for MetaTrader 4 and is also available for the newer MetaTrader 5.

What Trading Instruments Are Allowed In Surgetrader?

Surgetrader provides you with many trading instruments, including:

  • Forex pairs
  • Metals and Energy
  • Cryptocurrency
  • Stock indices
  • 90 days of individual stock
  • Oils and renewables
  • Selected Equities

What Are The Benefits Of Joining Surgetrader?

Surgetrader Review

Here are the benefits of joining the Surgetrader prop firm:

Higher Trading Capital

The Surgetrader program offers a higher trading capital of up to $1,000,000 to help you earn more when trading in the market.

The Capital allows traders with greater trading experience to get the best out of their trade in the forex market.

So, if you have money to purchase a higher capital, you will not be limited from getting the higher Capital you desire.

Higher Profit Share

Surgetrader is one of the prop firms with the best profit share that can help you easily grow your account.

When you join the platform, you can get a profit share of up to 90% in your live-funded account.

Only One Evaluation Process

When you join Surgetrader, you’ll pass through only one evaluation to get the funded account and start making money.

The platform has no thirty-day assessment period, as in many other prop firms online.

After passing the evaluation, you will stand a chance to start making money on the platform as soon as possible.

Related Prop Firm: Traders With Edge Review

What Is the Cost of Joining the Surgetrader?

Surgetrader Review

The cost of joining the Surgetrader depends on your account size.

However, you’ll only pay the price after signing up to the platform for free and choosing your preferred account.

After paying for the account size, you choose to work with, you will not have any other fee to pay.

The prop firm does not charge any other fee, monthly payments, or subscription in the platform.

Here are the available account sizes with their corresponding prices;

The Starter Account: $25,000.

The starter account is the smallest on the platform, with a balance of $25,000.

The starter account costs you $250 to purchase.

Intermediate Account: $50,000.

The intermediate account is the second smallest, with a starting balance of $50,000.

The intermediate account costs you $400.

Seasoned Account: $100,000.

In the seasoned account, the price is $700, which you must pay to get.

As for more experienced and financially stable traders, you can go for the following accounts;

Advanced Account: $250,000

The advanced account costs $1,800.

Expert Account: $500,000.

The expert account is the second-largest account on the platform.

To purchase the expert account, you will have to pay a fee of $3,500.

The Master Account: $100,0000.

The master account is the largest, with a maximum balance of $1,000,000.

The account costs you up to 6500 dollars to own.

Is Surgetrader A Scam?

Surgetrader Review

UPDATE: The SEC  has found Surge Trader to be Operating a $35 Million Ponzi Scheme.

Even though this has happened, we still have to give time for the full verdict to be played out.

The prop firm offers traders the funding they need to achieve their financial freedom trading forex.

You can maximize your profits when you start trading with your live-funded account.

The prop firm does not set profit targets for you in their funded account, making the trade much easier.

Maximizing your profits can make you eligible for their scaling plan, increasing your account to a maximum balance of $100,0000.

As the program scales up your account, you can generate more profits and achieve financial freedom.

However, this opportunity to trade forex provided by the Surgetrader platform may not work out for everyone.

The prop firm targets to work with motivated traders who can manage risk and be more profitable.

In addition, the prop firm requires its traders to be more consistent in trading to enable them to respect the set trading rules.

You may not benefit from the prop firm if you cannot meet these trading rules and the qualities.

Like other prop firms, the Surgetrader platform also tests your skills and ability to trade via their evaluation.

If you fail to pass their evaluation, you will not be eligible for a funded account.

Your account will be closed with no guarantee of reclaiming your fee.

My Assessment of the Surgetrader

Profits Split – 8/10

Surgetrader is one of the top prop firms with the best profit share that starts from 75%.

The company allows traders to enjoy a profit share of up to a maximum value of 90% as a strategy to help them grow their accounts.

The higher profit share also motivates traders to place more trade frequently.

Scaling Opportunities – 6/10

Surgetrader offers a good scaling plan to increase your account to a maximum balance of $100,0000.

To be eligible for their scaling plan, you’ll have to reach a profit target of 10% in their funded account, which seems realistic for most traders.

When your account is scaled up, you’ll have faster business growth and achieve financial freedom.

Profits Targets – 7/10

The profit targets in the Surgetrader seem realistic for most traders as they average those from other prop firms in the market.

The company sets profit targets in the Surgetrader audition and the funded account only if you want to get your account scaled.

The profit target is set to test your trading profitability and can help you earn more profits on the platform.

Affordability – 6/10

The prices for purchasing the different account sizes available in the platform average most for the other prop firms.

This makes the prop firm more affordable for most beginners and experienced traders.

In addition, the prop firm’s affordability makes traders trade with lower Capital and explore their trading skills in the market.

Trader Supports – 8/10

The prop firm offers 24/7 trader support to traders, especially when you have already become a member of their treading team.

In addition, the prop firm offers educational support to traders to help them learn more about how to trade effectively in the market.

Tradable Assets – 7/10

Surgetrader allows you to trade with various tradable assets, including cryptocurrency, forex pairs, etc.

With various tradable assets, you will have numerous options when selecting the best option.

Trustworthiness – 6/10

The services offered in the Surgetrader platform are well explained and easy to follow.

There is no hidden information about the company, which makes it easy to build trust among traders.

In addition, the platform has no hidden fee, allowing traders to enjoy their services after paying the account fee.

My Overall Rating: 7/10

I generally rate Surgetrader 7/10 as one of the top-performing prop firms in the market.

Surgetrader’s services are available to traders and accommodate beginners and professional traders online.

What Are People Saying

Here are what people are saying about the Surgetrader:


Surgetrader Review

Surgetrader has an excellent rating on Trust Pilot with an impressive reputation.


On their Facebook page, Surgetrader prop firm has attracted more than 34552 followers.

Their page also has more than 2989 likes, showing how much their traders feel comfortable with their services.


In their official Twitter account, Surgetrader Company has more than 6997 followers and more than 2500 tweets.


Surgetrader prop firm has more than 35K+ followers.


With 147 videos uploaded to their channel, Surgetrader has 3K+ subscribers on YouTube.


Surgetrader company is generally liked by many forex traders who use the platform.

It has a positive reputation on social media sites and an excellent rating on the platforms such as Trust Pilot.

FAQs About Surgetrader

How Long Does It Take To Become A Surgetrader-Funded Trader?

The company does not set a minimum number of days or trading days set for you to become a funded trader.

The prop firm only expects you to generate their set return of 10% and respect their drawdown of 5% or a maximum trailing drawdown of 6%.

When you pass these conditions in their evaluation stage, you will get to their funded account and trade at your speed to earn profits.

How Long Will It Take To Get The Funded Account After Passing My Surgetrader Audition?

Consider taking two days or more, as in the case of other prop firms online.

However, the case with Surgetrader differs, as you only have to wait 24 to 48 hours to receive your funded account.

Before waiting 24 hours, you must register and set up your funded account after receiving an email from the company directing you to register your Deel.

Can Surgetrader Give Me A Second Chance If I Breach Their Trading Rules?

The prop firm has two types of breaching, namely the soft and hard breaches, with the hard breach being the most restricted.

If you violate the maximum drawdown rule, it will constitute a hard breach, leading to your account being revoked.

On the other hand, violating the soft breach is when you place a trade without a stop loss which will constitute your account being closed.

When you violate the soft rule, you can continue to trade, but in the case of a hard breach, your account will be revoked, forcing you to repeat the audition.

Does Surgetrader Offer A Discount On The Repeat Audition?

You will be eligible for a discount when you decide to repeat the evaluation stage after your funded account has been revoked due to breaching.

The prop firm offers you a discount of 20% in the repeat audition to help traders find it easy to regain their funded account.

The prop firm claims to help you enroll in the repeat audition via their discount program instead of penalizing you for paying the full amount.

What Capital Will I Trade With The Funded Account?

When you pass the funded account, the platform awards you a funded account with the same account balance you used in the evaluation stage.

For instance, if you purchased a $500,000 account, your account balance in the funded account, also known as starting balance, will be $500,000.

Note that the Surgetrader audition enrolls you to trade with the demo account, where the funding is virtual, and promotes you to a live account if you pass the evaluation.

Thank you for reading Surgetrader Review.

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