Company Information

Company Name: Surge Trader
Company Legal Name: Surge Capital Ventures, LLC
Company Registration No.: CRD#126963
Operating Since: 2021
CEO Name: Jana Seaman
Location: 4851 Tamiami Trail N, Suite 200, Naples, Florida 34103
Support Mail: [email protected]
Phone: 866-998-7652

Challenge Details

Surge Trader was a prop trading firm designed to help skilled traders earn higher returns by providing access to larger capital. Traders had the opportunity to participate in three main types of challenges: the 1-Phase, 2-Phase, and Lightning Challenges, each offering its own benefits.

1-Phase Challenge:

Prices :

• $250 for $25,000 account
• $400 for $50,000 account
• $700 for $100,000 account
• $1,800 for $250,000 account
• $3,500 for $500,000 account
• $6,500 for $1,000,000 account

Rules:

• Profit Target: 10%
• Total Loss Limit: 8%
• Profit Share: Up to 90%
• Drawdown Type: Balance Based
• Time Limit: No Time Limit
• Leverage: 20:1
• Max Lot Size: N/A
• Payout Frequency: Paid upon request
• Copy Trading: Not Allowed
• Minimum Trading Days: No minimum days required

2-Phase Challenge:

• $200 for $25,000 account
• $300 for $50,000 account
• $500 for $100,000 account
• $1,200 for $250,000 account
• $2,300 for $500,000 account

Rules:

• Profit Target (Phase 1): 8%
• Profit Target (Phase 2): 5%
• Total Loss Limit: 8.8%
• Profit Share: Up to 90%
• Drawdown Type: Balance Based
• Time Limit: No Time Limit
• Leverage: 50:1 for FX and metals
• Max Lot Size: N/A
• Payout Frequency: Paid upon request
• Copy Trading: Not Allowed
• Minimum Trading Days: No minimum days required

Lightning Challenge:

• Drawdown Type: Balance Based
• Drawdown Limit: 4%
• Profit Target: 5%
• Profit Share: Up to 90%
• Copy Trading: Not Allowed
• Minimum Trading Days: No minimum days required
• Scaling: Scaling not available

Scaling Plan

For the 1-Phase Challenge, Surge Trader allowed traders to scale their accounts up to $1,000,000 in virtual funding. Once traders achieved a 10% virtual profit, they could continue scaling. For the 2-Phase Challenge, traders had the option to scale up to $500,000 in virtual funding after successfully passing both phases. Each scaling stage required an additional 8% virtual profit for Phase 1 and 5% virtual profit for Phase 2.

Spreads and News Trading Rules

Spreads:

Surge Trader offered competitive spreads, but the exact figures were not specified. Traders were encouraged to trade in normal market conditions.

News Trading Rules

News trading was allowed across all challenges. However, traders were advised against holding single-share equity CFDs during earnings releases.

Other Important Rules

Countries Banned from Purchasing

Surge Trader followed OFAC guidelines and banned countries under U.S. sanctions.

Gambling Rules

Traders were prohibited from engaging in any gambling-style trades, such as betting against the market with no strategy.

Prohibited Trading Strategies

Surge Trader did not allow high-frequency trading, latency arbitrage, or any form of strategy that exploited technical loopholes in the platform.

Payout Methods

Payouts were simple and could be requested with no minimum withdrawal requirement. Surge Trader had a reputation for processing payouts quickly, making it easier for traders to access their profits.

Trading Commissions

Trading commissions were not explicitly mentioned, but Surge Trader maintained competitive pricing for commissions, making sure it was accessible for its global traders.

IP Rule

Surge Trader maintained strict IP rules. Traders were required to trade from a single IP address, ensuring that accounts were not used for group trading or copy trading practices.