Proprietary trading platforms are quite popular now: many traders seem to prefer them for their unique funding mechanisms. Basically, such platforms give you large sums of money for management just for a small share of resulting profits. That means you can make significant profits without taking on many risks or having to find your own capital first. In this article, we explain how to become a funded trader on the Surge trader platform, one of the most popular prop trading services.
About Surge Trader
Surge Trader is a US-based prop company with thousands of active users from all over the world. The platform employs professional traders and gives them up to $1 million for management, but you have to pass the platform’s test first. You can try to pass it many times in a row, but each try costs at least $250, and the cost may reach $6,500. The great thing about Surge Trader is that you can learn while passing the exams: you choose an exam package, complete the course, and pass the exam.
Compared to other prop companies, Surge Trader is pretty convenient: there’s no mandatory 30-days trial period, and you can become a funded trader right after you pass your exam: it takes about 2 days to receive your login for the platform. The conditions are favorable: you get 75% of your profits. There is a wide variety of trading tools, including currency pairs, cryptocurrencies, and stocks. However, you should be aware that any major violation of the trading rules will get your trader status removed.
You can order one withdrawal per month, but there are no limits on how much you can take at once. It may take a couple of days to receive the money, but there are no commissions on withdrawals. There is also a demo account that can be used for practice. However, you definitely should participate in the Surge Trader funded account program to access all the features of the service.
How to become a trader
Once you sign up for your trading exam, the requirements are simple: you have to show 10% in profits without losing more than 5% every day. Your account size depends on the fee you pay, so if you want to get more under your management, you should invest more. However, you may move between tiers later: simply reach the 10% goal, and you’ll be offered an increase in your deposit. The platform does not restrict you from using certain strategies as long as you remain profitable.