*This post follows the script for my YouTube review: https://www.youtube.com/watch?v=KUeOLWyQ-vg"
Hey everyone, in today’s blog I’m going to be showing you a cool company that is changing the prop trading industry. It’s called Surge Trader. You can check it out here: https://surgetrader.com/?afmc=CAMERON
Surge Trader is actually based in my hometown of Naples, Florida, so I wanted to make this post to shine a light on this innovative company and the platform they are building. If you’ve been following my channel for a while now, you know I’m not really a trader (I kinda just set and forget within my Roth IRA) but I still have been intrigued by what SurgeTrader is able to offer to the trading community and the company they’re building.
Surge Trader is able to offer funded trading accounts to help traders capitalize on their skills and maximize their returns. They offer funded accounts ranging from $25,000 all the way up to $1,000,000.
So, in today’s post, I will not just explain what Surge Trader is doing to shake up the trading industry and how it works, but I will also offer my own personal experience of using their platform to trade on one of their demo accounts. So, let’s get into it.
What is Prop Trading?
Before going into the details of Surge Trader I think it’s important to explain what proprietary trading is.
So, prop trading occurs when a trader trades stocks, bonds, currencies, commodities or other financial instruments with the firm's own money, instead of depositors' money, in order to make a profit for itself.
This means that the money being traded is capital from the firm itself, not outside money in the form of deposits or client investments.
There are several firms in the market offering traders funding. The cost and profit structure varies for each, as well as the platform and technology that the firm offers its traders.
So what makes Surge Trader unique?
Like most trader funding companies, there is an audition process one must pass in order to receive a funded account.
From my research, SurgeTrader is the only funded account firm that offers traders live money in a real trading account. It looks like other firms allow traders to trade within a simulated “live” account and pay withdrawals from house funds. But, this creates a conflict of interest between the firms and the trader. Surge Trader on the other hand puts their traders in the market with REAL MONEY and pays out on the earnings of the trader’s success. This creates an environment where Surge Trader and the client have aligned interests in achieving maximum profits.
Also, from my research, it seems that Surge Trader offers THE most straightforward audition process.
Here’s how it works:
First, you choose which level of funding account you want. This ranges from 25k up to 1 million. There is an audition fee that goes up depending on the account. Starting at $250 for the 25k account to $6,500 for the 1m. This allows for only truly committed traders to audition.
The next step in the audition is for the trader to generate a return of 10% in the account while:
Not incurring a daily loss of 4% or
A maximum trailing drawdown of 5%.
A drawdown refers to how much an account is down from its daily peak, and a trailing drawdown is just pegged to your positive performance. So, if your profit increases by $1, the trailing drawdown will also increase by 1$.
These rules are also present if you pass the audition and are actively trading.
But, if you can follow those 2 rules and achieve a profit of 10% then you will get a funded account within 24-48 hours.
This is obviously pretty simple. Surge Trader does not require this 10% profit to happen within a certain number of trading days,(many firms require either 5 or 10 days to reach this level). Surge Trader is hoping to make it as easy as possible for experienced and knowledgeable traders to flex their skills and get funded.
The Surge Trader Team
I think the team behind Surge Trader is pretty unique too. They come from a diverse set of experiences in the financial industry, with a lot of them being former traders themselves. Each and every person on the team seems very dedicated to making Surge Trader the number 1 prop trading firm in the world.
Also, Surge Trader is venture-backed, and super involved in the community of my hometown, Naples Florida. It’s always great to see companies give back, and it was actually through one of their sponsorships at an event that I found out about the team.
How Surge Trader Works
So, once you have the account, you have access to all of this capital. This is extremely helpful for people who may be great traders, but don’t necessarily have the capital to achieve economies of scale with their trades.
You can be an amazing trader, but 20% gain on 10,000 is nothing compared to what it could be on a much larger account.
Traders are entitled to 75% of profits that they generate within their accounts, and can purchase an add-on that allows them to earn up to 90% of profits.
So This is how Surge Trader is able to make money. When you win, they win too. But when you lose, it is them who carry the risk.
Surge Trader also offers its traders an easy-to-use proprietary trading dashboard. I’ll talk more about this here in a minute.
Because Surge Trader profits when you profit, they WANT you to win. So they provide tons of resources to help you do just that. They’ve got a very active Discord channel for their community of traders and a team of top-notch customer service team.
My thoughts and experience on the platform.
So, now it’s time to roll up the sleeves and get to work trading myself.
You guys know I really don’t have any experience trading, but for the purpose of this video I got a demo account with $100k in funds and tried out the platform myself. Here’s how it went:
As soon as I signed up for a demo account I got an email that outlined exactly what I needed to do to get started. This provided me with my log-in to both the Surge Trader platform as well as a Meta Trader server. It also included all of the links to download the needed software, which was really just the meta trader server.
The email also included a 30-day membership to BKForex. This is a program offered by 2 forex trading legends that offers a lot of educational resources and webinars.
Ok, so now that I had my Meta Trader server downloaded and my surge trader dashboard up, it was ready to get trading.
In full honestly, it was very hard for me to figure out what the heck was going on on MetaTrader. Like I’ve said, I’m not a trader, the extent of my trading is putting money n Tesla and calling it a day.
But, this is not a review of Meta Trader, this is a review of Surge Trader, and I was very impressed by their platform.
It came as a bit of a breath of fresh air to have such an intuitive and user-friendly interface after dealing with the Microsoft 07 vibe of Meta. The analytics updated pretty much instantly to show me just how much money I was losing.
That’s right, losing.
It was my own fault, I chose to start trading when the stock market was already closed. So I stuck to what came up first on the platform commodities and currency.
It looks like I traded Gold 41 times.
Then I got in on some Australian to Canadian dollar action.
And finally some Canadian dollar to swiss franc trades.
All said and done, I lost a total of $873.72.
Which I guess isn't terrible considering that’s still less than a percent of the account.
Additionally, as soon as I checked my email, I realized that I had breached the rules of not having a stop loss in place on just about every single trade. So yeah, not my best performance.
BUT, fortunately this video is not a review of my own trading abilities, it’s about Surge Trader, which I do have to say performed just as good as it advertises, if not better. I think the dashboard really is a very effective tool for traders and seems to be at the forefront of cutting edge technology in the industry. Everything worked perfectly, and like I said, the analytics updated in real time. It also lets you see a history of your closed positions, and the rules you need to follow. But the real advantage Surge Trader offers is its simple audition process and its easy access to funds.
If I were a trader and wanted to amplify my trading results, I’d definitely choose Surge Trader.
So, that’s going to wrap up the video. I really hope you enjoyed learning more about the prop trading industry and getting to see me get wrecked at trying something new.
Please remember, none of this is financial advice. This video is simply for educational and entertainment purposes. Please do your own research before deciding to trade.
With that said, if you want to learn more about Surge Trader and check out their services, you can use the link here: https://surgetrader.com/?afmc=CAMERON