Surgetrader are a US based prop firm offering traders the ability to trade up to $1 million immediately after passing the 1-phase challenge. They have a secure source of capital giving traders some piece of mind that their account is safe.
Surgetrader Current Promotion or Coupon Codes
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Pros
- Large Capital Available – This firm allows traders to manage up to $1 million immediately after passing the audition.
- Secure Capital – This firm has a proven source of secure capital. Therefore even if you were to make large profits, you can feel safe you will be paid.
Cons
- Trailing Drawdown – This firm uses a trailing drawdown which may put off some traders.
Types of Accounts / Funding Models
This firm uses a standard single-phase challenge model. The specifications for this challenge are as follows:
Single-Phase (Audition)
Profit Target: 10%
Max Drawdown: 8%
Max Daily Drawdown: 5%
Leverage: 20:1
Profit Share: 75% – 90%
Platform and Broker
Which platforms does Surgetrader allow?
Surgetrader allows traders to choose from Metatrader 4 and Metatrader 5.
Which Broker does Surgetrader use?
Surgetrader uses the popular broker, Eightcap. You can read more about Eightcap here.
Surgetrader Rules
Are Expert Advisors Allowed?
Expert advisors and other algorithmic strategies are allowed with this firm, so long as they can abide by all the other rules.
Is News Trading Allowed?
You may trade around all news released with one exception. You must not hold a single-equity CFD (Stocks) position into an earnings release. This will only affect trades to trade stocks.
Are There Any Consistency Rules?
There are no consistency rules with this firm.
Are There Any Other Rules to be Aware of?
There are a few other rules to be aware of with Surgetrader.
Stop-Loss
All trades must have a stop loss attached unless you have opted for the “no stop-loss” addon.
Maximum Lots
There are specific maximum lots which you must abide by. Its worth noting that you can increase these by reducing risk (by moving stop losses to breakeven for example).
- $25K – 2.5 lots with risk
- $50K – 5 lots with risk
- $100K – 10 lots with risk
- $250K – 25 lots with risk
- $500K – 50 lots with risk
- $1 million – 100 lots with risk
Holding Trades over Weekend
All trades must be closed by 3.55 EST on Friday. Any open trades will be automatically closed. Holding overnight is allowed.
Surgetrader Prices
Surgetrader offer accounts ranging from $25,000 to $1,000,000. Here are the prices:
Scaling Program
Whilst Surgetrader does operate a scaling program, it is not the traditional method of growth.
Yes. Upon passing the Audition, you will be presented with a choice. You can either (1) claim your fully funded account OR (2) choose to extend your Audition and scale up to the next largest account size. If you choose to scale up to the next largest account size, you must continue the Audition and achieve an additional 10% profit.
At each 10% profit increment, traders will be presented with the same two options above. Traders can continue scaling all the way up to $1,000,000 in funding.
It’s important to note that if a trader breaches their account at any point in the scaling process, their Audition will be disqualified, and the trader can retry the Audition.
In practice, it would be much wiser to simply accept the funded account, withdraw 10% of profits and purchase an additional account.
Surgetrader TrustPilot Reviews
Surgetrader have a 4.5-star Trustpilot rating. This is considered good for the industry. To read the reviews on TrustPilot click here.
If this firm doesn’t suit your style, why not find one that does by using our Funding Finder Tool.
