6 mins read

By: sarvesh

SurgeTrader Prop Firm Review 2023: Navigating the Pros and Cons of Prop Trading Firm

Welcome to my honest and comprehensive review of SurgeTrader, the proprietary trading firm. In this article, I will provide an in-depth evaluation, highlighting both the aspects I appreciate about SurgeTrader and some potential red flags.

My review will be based on four key categories, each rated on a scale of 1 to 10:

  1. Rules and Regulations:
  2. Customer Support and Reviews:
  3. Brand Trustworthiness and Payout Proof:
  4. Unique Perks and Bonuses:

Rules and Regulations at SurgeTrader

Let's dive into the rules and regulations at SurgeTrader. One notable feature that sets SurgeTrader apart is its one-phase funding challenge, which differs from the two-phase evaluation model employed by many other proprietary trading firms.

They offer a range of account challenges or "auditions" starting at $25,000 and going up to $1,000,000. Participants can potentially earn up to a 90% profit share, starting at 75%. It's worth mentioning that you have the option to purchase additional add-ons to increase your profit share.

One Step Challange

Minimum Trading Days0 Days0 Days0 Days0 Days0 Days0 Days
Time LimitUnlimitedUnlimitedUnlimitedUnlimitedUnlimitedUnlimited
Daily Starting Drawdown5%5%5%5%5%5%
Overall Trailing Drawdown8%8%8%8%8%8%
Available LeverageUp to 1:20Up to 1:20Up to 1:20Up to 1:20Up to 1:20Up to 1:20
Refundable Fee250$400$700$1800$3500$6500$

Within this one-phase challenge, traders are required to achieve a 10% profit target, with no more than a 5% loss in a day. However, SurgeTrader offers a relatively limited leverage of up to 1:20, which is significantly lower compared to many other prop firms we've reviewed. This may be seen as a drawback. Additionally, there's a maximum trailing drawdown of 8%, and you cannot hold trades over the weekend or during major news events.

For instance, if you opt for the $100,000 challenge, you have the flexibility to add certain features. They mandate a stop loss on every trade, but you can add this feature if it's not part of your trading strategy. This also allows you to enjoy a 90% profit split and leverage up to 1:20. Choosing to forgo the add-ons results in a cost of $700, which is slightly higher than the average $500 account challenge. However, it's important to note that you only need to pass one phase.

If your trading strategy leans toward a favorable risk-to-reward ratio, the one-phase challenge and its $700 cost may be a reasonable choice.

Two Step Challange

TargetsPhase I- Propfit Target = 8%, Phase II- Profit Target = 5%Phase I- Propfit Target = 8%, Phase II- Profit Target = 5%Phase I- Propfit Target = 8%, Phase II- Profit Target = 5%Phase I- Propfit Target = 8%, Phase II- Profit Target = 5%Phase I- Propfit Target = 8%, Phase II- Profit Target = 5%
Minimum Trading Days0 Days0 Days0 Days0 Days0 Days
Time LimitUnlimitedUnlimitedUnlimitedUnlimitedUnlimited
Daily Starting Drawdown5%5%5%5%5%
Overall Fixed Drawdown8%8%8%8%8%
Available Leverage1:501:501:501:501:50
Refundable Fee200$300$500$1200$2300$

A quick update, SurgeTrader now have two phase challage as well. Within this two-phase challenge, traders are required to achieve a 8% profit target phase 1, with no more than a 5% loss. However, SurgeTrader offers a relatively limited leverage of up to 1:50, which is significantly lower compared to many other prop firms we've reviewed. This may be seen as a drawback. Additionally, there's a maximum fixed drawdown of 8%, and also you hold trades over the weekend or during major news events.


Broker Transition and Trading Conditions

SurgeTrader is currently in the process of transitioning from Eightcap, a primary broker used by many prominent proprietary trading firms, to ThinkMarkets. This transition appears to be a growing trend among several prop firms.

On their website, you can observe some promising trading conditions. For instance, the gold spread is just 10 cents. Moreover, on the EURUSD pair, there seems to be no spread at all. These conditions appear to be quite favorable for traders.

Scaling Plan and Evaluation Rating

SurgeTrader provides a scaling plan for traders who reach the 10% profit target on their audition account. When you achieve this milestone, you have two options:

  1. Option one is to receive your fully funded account.
  2. Option two is to scale up to the next larger account size.

What does this mean in practice? Let's say you've taken a $50,000 audition. Once you achieve your 10% profit target, you can either start trading the $50,000 account or choose to scale up to the next account size, which, in this case, would be a $100,000 account. This means you forego the $50,000 account but have the opportunity to move up to the $100,000 account. You can continue this scaling process and potentially work your way up to a million-dollar account if you wish, but you'll need to attain that 10% profit target each time.

It's important to note that if you breach your account at any point during the scaling process, you'll be disqualified and must re-enter the evaluation. In summary, how would I rate this on a scale of 1 to 10? I'd give it an 8.

I find it commendable for a one-phase evaluation model. It appears fairly achievable, and the profit-to-drawdown ratio is reasonable, especially considering it's a one-phase challenge. Overall, I'd rate it an 8.

Customer Support and Reviews

Now, let's assess SurgeTrader in terms of customer support and reviews. During my interaction with their live chat support, I found that I was able to reach an agent who promptly assisted me with a question. This level of service is fairly standard across most proprietary trading firms and is a positive aspect of their offering.

Ben Milburn

I love Surgetrader

I love Surgetrader! Chris Mejias​ is the best Moderator on Discord ..... Cameron is my guy for customer service help! Props to Sue Ramsey for covering some off hours in Discord when Chris thinks he needs to sleep!

mohammadreza matoorianpour

i passed the 1 million account.

i passed the 1 million account.hey guys just wanted to thank you for giving us with such a beautiful experience .unbelievable,the support and specially ALEX provided me with such good care even through the week end,the costumer service is amazing,got me funded and made my dreams to be serious trader with large capital come true!

JC Swint

Surge Life…

I like the discord experience within SurgeTrader!I also enjoy the new innovations within the Hub and constant promos on Instagram.The layout of the auditions is already top tier in my eyes! Thx SurgeTeam!

Emmanuel Owoeye-Wise

Nick Ramsey fully attended to all my…

Nick Ramsey fully attended to all my questions without any delay. I messaged surge support very early in the morning and was not expecting anyone to respond but I was shocked to see immediate response from Nick, thank you Nick.

Robertson Mora Escoto

Best prop firm I've tried

Best prop firm I've tried. Their rules are flexible for everyone wanting to monetize their trading market experience. I love the new hub that allows me to navigate with ease throughout the platform.Just be careful of breaching the hard rules like drawdown. After that, everything going well so far. They also have good testimonials from many of their participants who already take their withdrawn; I'll be the next to take my profits soon now in october 2023.

Moreover, when we look at TrustPilot reviews, SurgeTrader maintains an overall rating of 4.6 stars, indicating a high level of customer satisfaction. While this is generally positive, it's worth noting that there are around 7% one-star reviews, which is slightly higher than ideal. However, the majority of people seem to be content with their experience.

Considering both customer support and online reviews, I would rate SurgeTrader's performance in this category as an 8 out of 10.

Brand Trustworthiness and Payout Proof

Now, let's examine SurgeTrader's brand trustworthiness and payout proof. Here, I have some concerns about the company's reputation. SurgeTrader's founder is Jana Seaman, who is married to Brent Seaman. It's worth noting that SurgeTrader is a U.S.-based company located in Naples, Florida, which is a positive aspect.

However, I've come across some unsettling information about this couple. They were allegedly involved in a $35 million Ponzi scheme, where they were accused of luring elderly church members in Florida into an investment fund promising guaranteed returns between 18% to 48%. It appears that they were operating a Ponzi scheme, using new investors' money to pay out early investors. Allegedly, they used a substantial portion of the funds for luxury items like exotic cars and extravagant trips.

You can read more about this in this article. Brent Seaman, Jana's husband, was allegedly involved in this scheme, which reportedly victimized around 60 investors. This is undoubtedly a significant red flag, and while it's possible for companies to turn their practices around, this history does not inspire confidence.


Jana, the company's founder, has also been noted for conspicuously flaunting a luxurious lifestyle. In many cases, when individuals excessively display their wealth, it can raise questions about their motivations. From my own experiences, I've found that doing business with such individuals can be less than ideal.

In summary, when evaluating SurgeTrader's brand trustworthiness and payout proof, it appears that some investors are receiving payouts and the company has earned awards. However, given the founders' track record, I have significant reservations. I would rate them a 5 out of 10 in this category.

Unique Perks and Bonuses at SurgeTrader

Now, let's consider the unique perks and bonuses that set SurgeTrader apart from other proprietary trading firms.

Firstly, SurgeTrader's status as a U.S. company can provide a sense of security for traders. This is often seen as a positive point.

Another noteworthy aspect is their one-phase challenge, which is not excessively difficult to achieve. Requiring a 10% profit target with an 8% overall drawdown or trailing drawdown makes it a reasonable proposition.

What's even more intriguing is that SurgeTrader reportedly offers a free trial. This is a rare offering among prop firms, and it's typically only seen with a few select firms like FTMO. You can request a free trial from SurgeTrader by emailing them, which is a valuable perk for traders considering their services.

Another interesting feature is that this prop firm allows you to trade with real funds, as opposed to many other prop firms where you typically trade on demo accounts. They claim that you're trading with live funds, which can be appealing to those who prefer the experience of real trading.

Considering these unique perks, I would rate SurgeTrader an 8 out of 10 in this category.

When we aggregate and average all the ratings, SurgeTrader earns a 7 out of 10 overall rating.


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