As mentioned previously, SurgeTrader utilizes a one-step evaluation process called the Audition to assess traders’ suitability for a funded account. This Audition offers various tiers of accounts, providing traders with flexibility based on their skills and confidence in managing funds.

Here are the six account tiers offered by SurgeTrader, along with their respective fund sizes, profit targets, and Audition fees:

Starter Account:
- Fund size: $25,000
- Profit target: $2,500 (10%)
- Audition fee: $250
Intermediate Account:
- Fund size: $50,000
- Profit target: $5,000
- Audition fee: $400
Seasoned Account:
- Fund size: $100,000
- Profit target: $10,000
- Audition fee: $700
Advanced Account:
- Fund size: $250,000
- Profit target: $25,000
- Audition fee: $1,800
Expert Account:
- Fund size: $500,000
- Profit target: $50,000
- Audition fee: $3,500
Master Account:
- Fund size: $1,000,000
- Profit target: $100,000
- Audition fee: $6,500

The list of account tiers highlights the range from the smallest Starter account to the largest Master account offered by SurgeTrader. It’s evident that as the fund size increases, so does the profit target and audition fee. Traders should carefully review the features of each tier before making a selection, as there are no refunds for failing an Audition or switching tiers. Therefore, it’s essential for traders to assess their capabilities before committing to an account tier.

All account tiers share common features such as a Daily loss limit of 4% and a Max trailing drawdown of 5%, both calculated based on the Fund. Additionally, there is a standard profit share of 75% and a standard leverage of 10:1 across all tiers. However, traders have the option to increase the profit share to 90% and leverage to 20:1 through add-on purchases, which will be discussed later in the article. It’s important to note that the increased leverage of 20:1 is only applicable to Forex and Metals trading, not other instruments offered by SurgeTrader.

What Are SurgeTrader’s Rules And Objectives?

SurgeTrader’s rules are divided into two categories: Hard breach rules and Soft breach rules. Both sets of rules apply to Audition accounts as well as live trading accounts.

Hard Breach Rules

The hard breach rules consist of two specific regulations. If a trader violates either of these rules, they fail the Audition and forfeit the account. These rules are as follows:

Daily Loss Limit: Traders are not permitted to exceed a daily loss limit of 4%.
Max Trailing Drawdown: Traders must maintain a maximum trailing drawdown of 5%.

Daily loss limit

The daily loss limit is calculated based on the trader’s current equity for that specific day. For example, a trader with a $100,000 account will have a daily loss limit of $4,000, which is 4% of their account balance. If the trader makes a profit of $10,000, increasing their account balance to $110,000, their daily loss limit will widen to $4,400, which is 4% of their new balance. This adjustment occurs because the daily loss limit is percentage-based, meaning it scales with the trader’s account balance.

The daily loss limit is determined by the end-of-day balance from the previous day, as it resets at 5 PM EST every day. If the end-of-day balance for the previous day was $100,000 for a $100,000 account, the account will breach once the equity drops to $96,000 within that day.

Maximum trailing drawdown

The Maximum Trailing Drawdown at SurgeTrader refers to the maximum amount by which a trader’s account balance can decrease before the account is breached. Initially set at 5% of the account’s starting balance, the maximum drawdown level adjusts as the trader’s account balance increases, following a similar trajectory until the trader reaches a 5% profit target.

Upon achieving the 5% profit target, the trailing drawdown feature is deactivated, allowing the trader’s account to draw down to the initial balance before breaching occurs. This means profitable traders may experience a maximum trailing drawdown higher than 5%. For example:

A trader with a $100,000 account can see the account balance fall to $95,000 before breaching occurs. If the trader generates a $4,000 profit, the account balance becomes $104,000, and the maximum drawdown limit increases to $99,000. With an additional $1,000 profit, raising the account balance to $105,000, the 5% profit target is achieved, and the maximum drawdown limit remains at $100,000.

Further profit growth can lead to a higher maximum drawdown level beyond 5%. For instance, if the trader grows the account to $120,000, the effective maximum drawdown level rises to 20%, four times higher than the initial 5% level.

Soft Breach Rules

The soft breach rules at SurgeTrader are those that, if violated, result in the closure of positions associated with the breach, while the trader’s account remains unaffected, allowing trading to continue. These rules include:

Stop-loss Requirement: Traders are required to set a stop-loss for each trade during the execution period to manage risk and potential losses.
Flat for the Weekend: This rule mandates closing all trading positions overnight and on weekends. Traders must close their positions by 3:55 PM EST on Fridays to comply with this requirement.
Maximum Open Lots with Risk: Traders must adhere to the maximum allowable number of open lots based on their risk management strategy to mitigate excessive exposure to the market.

Stop-loss required for each trade

In SurgeTrader, the soft breach rule “Stop-loss required for each trade at the time the trade is executed” means that traders must set a stop-loss order for every trade they execute. This entails determining the maximum acceptable loss for each trade and setting a stop-loss order accordingly. By implementing stop-loss orders, traders can mitigate potential losses if a trade moves unfavorably, thereby reducing the risk of exceeding the daily loss limit or the maximum trailing drawdown.

Flat for the weekend

The SurgeTrader rule “Flat for the weekend” mandates that traders close all their positions overnight and over the weekends. This precaution is taken to mitigate the risk of sudden market fluctuations or price gaps that may occur when the market reopens on Monday, potentially resulting in significant losses.

To adhere to this rule, traders must exit all their trades by 3:55 PM EST on Fridays. This ensures that no positions are left open during the weekend, reducing exposure to market volatility. Traders are prohibited from opening new trades until the market resumes on Monday, thereby safeguarding their capital from unforeseen market movements during the weekend.

Maximum open lots

The maximum number of open lots refers to the limit on the number of open trading positions available to a specific account tier. For example, if a trader selects the $100K account tier, they are allocated 10 open lots for trading.

Suppose the trader purchases 5 lots of GBP/EUR at a price of 1.20 with a stop-loss set at 1.18. This means that the trader has 5 lots at risk while still having 5 lots available for further trades. If the GBP/EUR pair then increases to 1.25, prompting the trader to adjust the stop-loss to 1.20 (equal to the opening price), the trade no longer carries any risk.

Consequently, the trader will once again have the full allocation of 10 lots available for trading, even though 5 lots are currently open. It’s important for traders to limit the number of trades with risk, as the SurgeTrader system will automatically liquidate all trades carrying risk. However, since this rule falls under the category of soft breaches, traders can continue trading even if they exceed the maximum number of open lots.

Moreover, if traders manage to achieve the profit target of 10% for their chosen account tier without violating the two hard breach rules, they will be upgraded to a live funded account.

Questions And Answers About SurgeTrader

What Are SurgeTrader Add-Ons?

SurgeTrader add-ons offer additional benefits to traders who purchase an account tier. These benefits include the absence of a stop-loss requirement, an increased profit split of 90% (up from the original 75%), and a boost in leverage from 10:1 to 20:1. These add-ons are available across all account tiers, allowing traders to opt for them when selecting their chosen account tier.

What Is The Estimated Timeframe To Become A Funded Trader With SurgeTrader?

SurgeTrader doesn’t impose a specific timeframe for traders to become funded, allowing them to take as much time as needed to meet the profitability criteria. The only requirement is to generate a 10% return on the selected account tier while adhering to the daily loss limit and maximum trailing drawdown rules. This approach differs from other firms that may have minimum trading day requirements or time limits to pass the challenge for funded account qualification.

SurgeTrader encourages traders to leverage its account tiers, straightforward trading rules, and robust support to achieve sustained success. As such, there’s no pressure on traders to meet a deadline, enabling them to focus on developing profitable trading strategies at their own pace.

What Occurs After Passing The SurgeTrader Challenge?

Once a trader successfully passes the SurgeTrader challenge, they can expect to receive their funded account within 24-48 hours. Following the challenge completion, the trader will receive an email from DEEL, the withdrawal payment processor utilized by SurgeTrader. This email will provide instructions on setting up a DEEL account. After registering the DEEL account, the trader should allow 24-48 hours for the setup of the funded account to be completed.

What Is The Profit Split?

The default profit split at SurgeTrader is 75:25, with 75% of the profit going to the trader and the remaining 25% retained by the company. However, traders have the option to increase their profit split to 90% by paying a small additional fee for add-ons alongside their chosen account tier. This would mean that 90% of the profit will be allocated to the trader, while the company will receive the remaining 10%.

What Is The Profit Withdrawal Process At SurgeTrader?

Traders can withdraw profits from their trader dashboard at any time, but withdrawals are limited to once every thirty days. This means that if a trader earns profits in their live account, they can withdraw those profits. Alternatively, traders can choose to leave their profits in the account to allow them to accumulate and grow their account.

To initiate a withdrawal, traders simply need to click the “Withdraw Profits” button in their trader dashboard and enter the desired withdrawal amount. All profit withdrawals are processed in collaboration with DEEL. Once SurgeTrader approves the withdrawal, the profits will be reflected in the trader’s DEEL account and can be withdrawn using any available withdrawal methods offered by DEEL.

It’s important to note that when a withdrawal is approved, SurgeTrader will also withdraw its share of the profits according to the profit split agreement. Additionally, the trader’s maximum trailing drawdown will be locked in at the starting account balance. For example, if a trader’s account balance increases to $120,000 and they request a withdrawal of $16,000, SurgeTrader will retain its share of the profits ($4,000) while the trader receives the remainder ($12,000) in accordance with the profit split. After the withdrawal, the account balance will drop to $104,000, and the maximum trailing drawdown limit will be set at $100,000. Therefore, the trader will have a maximum of $4,000 that they can lose before breaching the maximum trailing drawdown rule.

What Is The Account Size That A Trader Will Manage?

Traders will receive the same live account balance as the one they selected for the SurgeTrader Audition. Once the trader passes the audition, their results will be assessed and verified. After verification, the trader will be provided with credentials to access a live account.

In the live account, traders will be eligible to receive 75% of the revenue generated from their trading activities. Additionally, traders have the option to purchase an add-on to increase their profit share to 90%.

It’s important for traders to note that there are no options to upgrade the account size once they transition to live accounts. Therefore, traders are advised to carefully choose the appropriate account size during the application process for the SurgeTrader Audition.

What Are The Trading Hours?

The trading hours are determined by EightCap, the broker partnered with SurgeTrader, which means SurgeTrader does not have control over these hours. However, traders can easily find the specific trading hours for each product by checking the Specifications on their chosen trading platform.

To access the trading hours, traders can right-click on any product in the Market Watch window of either the MT4 or MT5 platform and then select Specifications from the dropdown menu.

It’s important to note that on normal market days, Single Stock CFDs open five minutes after and close five minutes before the normal hours of the US Stock Market. Additionally, trading hours may be affected by holidays, which can impact the availability of trading for all products.

What Instruments Are Available For Trading?

Traders have access to a diverse collection of CFD market instruments for trading, including Forex, metals, indices, oil, cryptocurrencies, and stocks. The availability of stocks for trading depends on the trading platforms offered by EightCap. Specifically, MT4 provides access to approximately 90 stocks, while MT5 offers access to around 250 stocks.

How Much Leverage Is Available To Traders?

The leverage for Forex, Indices, Metals, and Oil is set at 10:1, while individual stocks have a leverage of 5:1. Cryptocurrencies, on the other hand, have a leverage of 2:1. Traders have the option to purchase an add-on during checkout, which grants them access to increased leverage of 20:1 specifically for metals and Forex trading.

Are Traders Allowed To Hold Stock Trades Into Earnings Releases?

No, traders are not allowed to hold stock trades into earnings releases. To comply with this rule, traders must close all Single Share Equity CFD positions by 3:50 PM Eastern Time on the day of the release if it is an aftermarket release. If the release occurs before the market opens, positions must be closed on the day preceding the release.

Failure to adhere to this rule will result in an immediate and hard breach of the account, leading to the loss of the account. Additionally, any gains or losses from the violated trading position will be excluded from any payout calculations.

If My Account Is Inactive For A Specific Time Frame, What Will Be The Result?

If a trader fails to place a trade at least once every thirty days, their account will be deactivated. This policy aligns with the practice of the broker SurgeTrader partners with, which deletes inactive demo accounts after 30 days. However, SurgeTrader considers this a soft breach.

In the event of account deactivation, SurgeTrader will attempt to reactivate the existing account. If reactivation is not possible, a new account will be created with the same information and progress as the previous one. This includes preserving details such as the profit and loss (P&L) statement or the high water mark (the highest account balance obtained).

Can I Scale My Account?

Yes, SurgeTrader allows traders to scale their accounts. After passing the SurgeTrader Audition, traders are given two options. They can either claim a fully funded account or extend their Audition to scale up to the next largest account size. If a trader chooses to scale up, they must continue the Audition process and generate an additional profit of 10%.

Upon achieving each 10% profit milestone, traders are presented with the same two options: claim the fully funded account or continue scaling up. This process can continue until traders reach a funding level of one million dollars. However, if a trader breaches the account at any point during the scaling process, the Audition will be canceled, and the trader will need to retry the Audition.

What Trading Platforms Are Available For Me To Use?

SurgeTrader provides two trading platforms: MT4 and MT5, both of which are highly regarded in the over-the-counter trading industry. These platforms are made available through SurgeTrader’s broker, EightCap. The MT4 and MT5 accounts operate on the Raw account types at EightCap, offering traders access to competitive trading conditions and a wide range of financial instruments.

What Is The Available Information On The Dashboards Of The Trading Account?

Traders can find a variety of essential metrics on their trading account dashboards. These include:

Profit Target: The specific profit goal that needs to be reached.
Equity: The current value of the trader’s account.
Balance: The total amount of money in the trader’s account, excluding open positions.
Daily Loss Limit: The maximum allowable loss for a single day.
Monthly Return: The percentage return on the account for the current month.
Maximum Drawdown: The maximum observed loss from a peak to a trough of the account balance.
Projected Annual Return: An estimate of the yearly return based on current performance.

Additionally, traders have access to a detailed account history that includes every executed trade, providing transparency and helping traders to review and refine their strategies.

Why Does The SurgeTrader Audition Have A Fee?

There are several reasons for the SurgeTrader Audition fee:

Operating Expenses: The fee helps cover various operating expenses incurred by SurgeTrader. These include customer service functions, technology platforms, marketing, personnel, and other necessary expenditures that contribute to the healthy growth of the company.
Trader Commitment: The fee ensures that traders are dedicated to the process and committed to adopting disciplined trading practices that are likely to lead to success. When traders have some level of investment in the program, they are more motivated to manage the account diligently and responsibly.
Risk Management: The fee is a small token of commitment, rewarded with access to substantial trading capital. Traders cannot lose more than this Audition fee, as SurgeTrader covers any losses on a live-funded account. This arrangement significantly favors the trader, minimizing their risk.
Filtering Serious Traders: The fee functions as a filter to identify serious-minded traders. SurgeTrader aims to build a community of committed traders capable of generating consistent profits. The Audition process helps to distinguish solid and serious traders from those less committed.

Overall, the SurgeTrader program offers a highly valuable service that many traders can benefit from, and the Audition fee supports the beneficial relationship between the firm and its traders.

Pros And Cons Of SurgeTrader

Let us now conclude this review by examining the pros and cons of SurgeTrader.

What Are The Advantages Of SurgeTrader?

SurgeTrader boasts a commendable profit allocation for traders, commencing at 75%, which can be augmented to 90% through the acquisition of an auxiliary feature. The fee for the SurgeTrader Audition is a singular, non-recurring payment. The Audition protocol is simplified into a solitary step, characterized by lucid and transparent guidelines that are effortlessly navigable.

There are no restrictions on the trading methodologies and investment paradigms that traders may embrace. The profit objective is delineated at 10% of the overall account balance, a modest and attainable target, with no obligatory minimum duration for its realization. Traders are afforded a complimentary 30-day membership with BKForex, offering an array of advantages including trading tools, daily trading insights, webinars, exclusive trading indicators, and more.

The withdrawal processing is remarkably swift, devoid of constraints on the minimum or maximum withdrawal amounts, and requests can be submitted at any point, once within a thirty-day period.

What Are The Disadvantages Of SurgeTrader?

Traders are prohibited from keeping trading positions open over the weekend, which can impede the implementation of long-term strategies. The leverage offered is modest, fixed at 10:1 for forex, metals, oils, and indices; 5:1 for stocks; and 2:1 for cryptocurrencies. Every trade necessitates the establishment of a stop-loss, enforcing a daily loss limit of 4%. Moreover, the supplementary educational resources available to users are rather sparse.

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