SURGE TRADER
Pros
- FUNDING UP TO $1,000,000
- ONLY 1 CHALLENGE STAGE
- LIVE TRADING FUNDS, NO DEMO
- GREAT REPUTATION
- 75% PROFIT SPLIT
Cons
- NO WEEKEND CRYPTO TRADING
As the forex prop firm industry has grown, so has the amount of prop firms offering funding for traders. With forex brokers reducing leverage and the industry getting more regulated, trading your own funds for a living is getting increasingly harder to do. This is where prop firms can help traders get to the next level!
Surge Trader
are rapidly becoming one of the worlds leading funding options for retail forex traders looking to get funded accounts. Based out of the USA, the company are offering something that no other prop firms are able to offer – a $1,000,000 funded account!
Is this the prop firm for you? We have extensively tested and researched the company to find out everything we can! Let’s dive into it…
Lux Trading Firm
Lux Trading Firm are a highly rated prop firm offering initial funding of up to $1,000,000 with a 75% profit split.
They offer an amazing scaling program up to $10M, with multiple industry-leading features such as their unique offering to trade on TradingView’s charts, large selection of CFD’s, 500 Crypto’s, 12,000 Stocks, Elite Packages, and no time limits make it the perfect funding option!
Lux Trading is one of the few online prop firms offering real trading capital, and trading with a regulated A-book broker!
- Real Money Funding
- Brick & Mortar Business
- Great Reputation
- Funding Up To $10,000,000
Who Are Surge Trader?
Surge Trader has been around in the industry for the last few years, based out of Naples, Florida. On the website you can have a read of the origin story of how the company came to be and it’s fairly similar to how the majority of the industry leading prop firms were started.
It all came about off the back of a conversation between a VC, a forex broker and a successful institutional trader, looking to change the way forex traders received funding and scaled their asset under management.
The company is part of a larger holding group – Valo Holdings. It’s also backed by Venture Capital, providing deep liquidity and giving traders access to huge amounts of live trading capital.
Surge trader offer a one step verification challenge, followed by a funded account ranging from $25,000 to $1,000,000!
This is a no brainer, right?
Well… Let’s find out more.
Getting Funding From Surge Trader
Now that we know who the company are, it’s worth taking a look at their different funding options for forex traders.
Surge Trader have a much more simple business model than the majority of these newer prop firms, offering 6 different account types with different rules and payout splits on each. I personally find these companies fairly confusing and love the more simple approach!
The funded accounts range from $25,000 to $1,000,000 and the cost to take the challenge will change depending on the value.
All of these accounts have the exact same rules and thresholds for passing and failing.
Let’s take the Intermediate account for example…
- You pay $400 for the challenge. This is a one time fee.
- You are given the details for a demo account. Now your trading begins.
- Trade your strategies like you would do on a real live account. You must obtain 10% profit, without breaching a 4% daily drawdown limit and a 5% total drawdown limit. You have an unlimited amount of time to complete this.
- If you fail, you will need to repurchase a challenge when you’re ready to try again.
- Everything going well, you’ll be awarded a live trading account.
Once you’re on the live trading account of $50,000 – you’ll have the same daily and maximum drawdown limits. You will be awarded with another 100% of capital, every time you reach 10% in profit. You’ll also have a 75% profit split.
This means that for every 10% you make on the $50,000 account, you’ll be given $3750!
This compares very well to other prop firms and is actually much more simple than what you’ll see in the industry!
What Makes Surge Trader Different From All Prop Firms?
With how competitive the prop firm funding industry is in 2022, it’s important to look at the key differentiators between these companies and understand where the opportunity lies.
The benefit of these top prop firms competing is that they’re constantly bettering themselves to increase their revenue. The good news for us traders is they offer us more discounts, incentives and funding!
So, what sets Surge trader apart?
1. Venture Capital Backing
As mentioned near the start of this article, Surge Trader are backed by Valo holdings group. I really love the fact the company is within a real organisation. There are countless ‘prop firms’ popping up with no real backing, no money and no organisation behind them.
Knowing that there is an actual corporation behind these funded accounts fills me with confidence and it needs to be happening much more within the industry.
2. $1,000,000 Funded Account
If you take a look at the different account types the company offers, you’ll notice that they offer a $1M account!
There are no other forex funded accounts that start at $1,000,000. This means that you could go from $0 under management to 7 figures, within a few weeks – if you’re a profitable trader.
This is a crazy thought and can be hard to wrap your hard around but either way, it’s incredibly impressive and certainly sets these guys apart from the 30+ competitors in the market.
3. Live Funding
This USP is fairly interesting and something that not all prop firm traders are aware of. The majority of the best funded accounts are actually having you trade on a demo account – you never touch the live markets.
This doesn’t matter, at all, as you’re still getting paid! It all comes down to how their business model works, I guess.
However, Surge Trader offer REAL funding once you’ve passed the verification stage. This means you’ll be actually trading live funds from the VC firm and you can think of yourself as a real funded trader!
4. Working With A Regulated Broker
When you become a funded trader, you’ll be given a live account with Eightcap, an official partner of Surge Trader.
This is an ASIC regulated broker, based out of Australia. The company has a great reputation and provides a massive range of trading instruments, along with ECN style trading conditions.
It’s great to see that they’re partnered with a regulated broker, rather than a shady offshore broker!
Is Getting Funding From Surge Trader Actually Realistic?
It really doesn’t matter if you’re being offered a $1M funded forex account or not, if the rules are so strict you’ll never have the funding! With that being said, are these rules acceptable?
Surge Trader has one of the most relaxed rulesets in the industry. You essentially need to just make 10% on your demo account, without breaching 4% daily drawdown and 5% maximum drawdown. This can be done as quickly or slowly as you desire.
If you can keep within these rules, you’ll get funded. It’s very straightforward!
I’d argue that if you aren’t able to pass this challenge, you would most likely not be ready for funding from any of the top prop firms as these are fairly generous rules, with the lack of time limit and simple ruleset.
Does Surge Trader Offer Scaling?
You’ll notice that right now in the industry, getting scaling and the option to hold more capital from your prop firm is a big deal. As most traders aren’t compounding their trading profits, it’s important that you’re still able to grow and increase your earnings somehow.
This is where capital scaling comes into play.
Surge Trader offers traders the ability to scale capital at every 10% milestone. In short, if you earn 10% profit when funded and sticking to the rules, you’ll have your account doubled. This continues all of the way to $500,000.
If you compare this to compounding your own profits, this is obviously much faster and will result in a much larger profit in the same period of time.
Comparing this offering against some of the other leading firms like BluFx, this is a completely fairly offering and matches what their competitors are doing!
Surge Trader Reviews – Are They A Scam?
My favourite way to gauge the success of a prop firm is to look at the experience other traders are having. Whilst I am having a great experience, there’s no guarantee that I am not being treated differently and the majority of traders have a bad experience…
On Trustpilot, Surge Trader has an excellent reputation with around 50 reviews and a 4.5 star rating!
This is great to see, especially for a fairly new company within the industry. There is a HUGE amount of positive reviews from traders that have both passed and failed the challenges.
Ger Celtic here has had a great experience and makes a few very interesting points. You won’t be breaching the drawdown limits until your trades are actually closed, which gives a huge range of flexibility for trades.
The only negative point that was raised in multiple reviews was the fact that weekend trading on crypto isn’t allowed, even though the market is open. This is a valid point and I’m interested to see how this changes over the coming months.
To summarise all of the reviews I managed to find, the company is thriving and all traders are happy! I’d definitely like to see a larger number of reviews and I’m sure, in time, this will come.
In Summary – Is Surge Trader A Good Prop Firm For Traders?
In conclusion, Surge Trader is a leading prop firm and one of the best funding options for forex traders looking to take on additional capital in 2022.
The trading conditions being offered are brilliant, the reviews are positive and I’m truly impressed with how the company is growing.
The huge amount of trading instruments and the addition of crypto trading is great to see!
I’ll be circling back to this review every few weeks and updating with my experience, as it changes throughout the coming months.
Are you trading with Surge Trader? Let me know in the comments down below!
