As the financial world grows more complex, savvy investors turn to the most reliable sources for guidance. That’s where Traders Union steps in, bringing you the essential, accurate information you need to navigate your financial journey. Today, we present a detailed analysis of a prop company that has been on the radar of many traders – SurgeTrader.
Traders Union has compiled a thorough SurgeTrader review. During this review, you’ll get an in-depth understanding of SurgeTrader’s offerings, advantages, disadvantages, and much more. Stay tuned as we unpack all you need to know about SurgeTrader.
What is SurgeTrader?
According to TU experts, SurgeTrader is a proprietary trading company offering traders the opportunity to manage capital ranging from USD 25,000 after passing a comprehensive exam. SurgeTrader, a multinational venture backed by the Valo Holdings fund, is headquartered in Florida, USA. It empowers traders with access to substantial capital while ensuring robust financial backing and stability.
Advantages and disadvantages of SurgeTrader
Traders Union experts have mentioned the advantages and disadvantages of SurgeTrader:
Advantages:
- Reliability: SurgeTrader is backed by venture capital from an international fund and is in partnership with the ASIC-licensed EightCap broker, ensuring stable and reliable operations.
- Freedom in Trading Strategies: Traders can use any trading strategy, including algorithmic trading, hedging, scalping, and the Martingale strategy.
- High-Income Share: SurgeTrader offers a generous profit share to its traders, allowing them to keep 75% of their earnings.
- Wide Range of Assets: Traders can access many assets, including over 100 instruments and cryptocurrencies.
- Risk Mitigation: If traders adhere to the maximum loss and drawdown requirements, any loss they incur is covered by SurgeTrader, effectively reducing their risk.
- Transparency: All the legal documents and conditions are publicly available on SurgeTrader’s website. The platform also accommodates occasional violations of trading rules as long as they aren’t systematic.
Disadvantages:
- High Exam Cost: The exam required to become a SurgeTrader is pricey, with costs ranging from USD 250 to USD 6,500.
- Stringent Trading Conditions: SurgeTrader imposes strict trading conditions, such as a daily drawdown limit of no more than 5% and a maximum loss limit of up to 4%. These can be challenging to adhere to for some traders.
Withdrawal options and fees
TU experts found that SurgeTrader permits fund withdrawals once a month and accepts withdrawal requests at any time. The platform supports bank systems and PayPal for both fund deposits and withdrawals. It’s important to note that there are no commissions for withdrawing money, and a recalculation is done, accounting for maximum and minimum sliding drawdowns when withdrawing profits.
Trading conditions for SurgeTrader Users
According to TU experts, SurgeTrader, via its affiliate broker EightCap, provides access to over 100 OTC assets. Some of the critical trading features include a minimum deposit of USD 250, leverage of 10:1 that can be upgraded to 20:1 on forex and metals, and access to trading on a wide range of instruments, including currency pairs, cryptocurrencies, commodity market assets, and stock assets. SurgeTrader also features mobile trading and offers an affiliate program.
Bonuses paid by SurgeTrader
SurgeTrader’s bonus program, according to TU experts, provides a gradual increase to the following tariff package upon reaching a 10% profit from the managed portfolio. The unique structure of this bonus allows traders to move from a minimum package of USD 250 to reach the Advanced package level potentially.
In addition, TU has also published a detailed Thinkorswim review. To read an in-depth and comprehensive review of the broker and know its strengths and limits, please visit the official website of Traders Union.
Conclusion
Our in-depth SurgeTrader review compiled by Traders Union offers a holistic understanding of what SurgeTrader provides to traders. The platform’s unique offerings, such as high-income shares, a wide range of trading assets, and a lucrative bonus program, make it a prop trading firm to consider. However, potential traders must also know the high exam costs and stringent trading conditions. As always, do your due diligence before diving in.
For more detailed information, insights, and expert analysis on various trading platforms, we encourage you to visit the official website of Traders Union.