As the forex prop firm sector has expanded, so the number of prop firms that provide traders with money. As forex brokers reduce leverage and the business becomes more regulated, it becomes increasingly difficult to trade your cash for a living. Here is where prop businesses may assist traders in reaching the next level!
SurgeTrader is quickly becoming one of the world’s most popular account-funding solutions for retail FX traders. Based in the United States, the company offers something that no other prop firms can: a $1,000,000 funded account!
Who Are Surge Traders?
Surge Trader, situated in Naples, Florida, has been in the sector for the past few years. On the website, you may read the company’s founding narrative, comparable to the origins of the bulk of the leading prop companies in the business.
It all stemmed from a conversation between a venture capitalist, a forex broker, and a prominent institutional trader who wanted to transform how forex traders obtained funding and grew their assets under management.
The company is a subsidiary of Valo Holdings, a giant holding corporation. It is also supported by Venture Cash, allowing traders access to vast amounts of live trading capital and offering deep liquidity. Surge trader offers a one-step verification challenge, followed by a $25,000 to $1,000,000 funded account!
Getting Funding From Surge Trader
Now that we know who the organization is, it would be prudent to examine their various funding choices for forex traders.
Surge Trader has a more straightforward business strategy than most of these younger prop firms, offering six distinct account categories with different rules and reward percentages.
The funded accounts range from $25,000 to $1,000,000, and the participation fee will vary based on account worth.
All of these accounts have identical passing requirements and failure thresholds.
Once you have a $50,000 live trading account, the same daily and maximum drawdown limitations will apply. You will receive 100% of your money every time you reach a 10% profit. You’ll also get a 75% profit split.
You will receive $3750 for every 10% you earn on the $50,000 account!
This is simpler than you’ll see in the industry and compares favorably to other prop firms!
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What Makes Surge Trader Different From All Prop Firms?
Given the competitive nature of the prop firm funding sector in 2022, it is essential to examine the critical differentiators between these organizations and identify the areas of opportunity.
As a result of their competition, these leading prop firms are continually improving and increasing their income.
It’s encouraging to see they’ve worked with a regulated broker instead of a rogue offshore broker!
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Is Obtaining Funding From Surge Trader Possible?
Whether you’re promised a $1 million funded FX account or not, if the conditions are that stringent, you’ll never get the money! Therefore, are these regulations acceptable?
Surge Trader has one of the most permissive regulatory frameworks in the market. You must earn 10% on your demo account without exceeding a daily drawdown of 4% or a maximum drawdown of 5%. You can complete this as quickly or as slowly as you like.
If you can adhere to these guidelines, you will receive funding. It is pretty straightforward! If you cannot pass this hurdle, you are most likely not prepared for investment from any of the top prop firms, given the permissive conditions and absence of a time constraint.
Does Surge Trader Offer Scale?
You will observe that scaling and the option to hold more cash from your prop firm are significant factors in the current sector. Because most traders do not compound their trading winnings, you must find a way to expand and raise your revenue.
Capital scaling comes into play at this point.
Surge Trader allows traders to scale their capital at 10% milestones. In a nutshell, your account will be doubled if you make a 10% profit when financed and adhere to the restrictions. This continues until $500,000 is reached.
Compared to compounding your gains, this method is quicker and will produce a considerably higher profit in the same amount of time.
Compared to the offerings of other prominent companies, such as BluFx, this is entirely comparable and in line with what their competitors are doing!
Which funded trader program is the best?
Topstep provides the best funded trader accounts software at an affordable price with a free trial. Future contracts and currency pairings can be traded on Topstep, and the income split is advantageous. This year, they have funded over 6,000 accounts and withdrawn over $2 million.
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