SurgeTrader Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of SurgeTrader fees and also assessed the size of its minimum deposit.
Short introduction of SurgeTrader
SurgeTrader is a prop company that offers traders capital from USD 25,000 to manage after passing the exam. It is a multinational company headquartered in Florida (USA). Financing is provided by the venture fund Valo Holdings.
| 💰 Account currency: | No data |
| 🚀 Minimum deposit: | USD 250 |
| ⚖️ Leverage: | 10:1 with an upgrade to 20:1 on forex and metals |
| 💱 Spread: | From 1 point |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, commodity market assets, stock assets |
| 💹 Margin Call / Stop Out: | No data |
SurgeTrader Pros and Cons
👍 Advantages of trading with SurgeTrader:
•Reliability. Venture capital is provided by an international venture fund. Trading is carried out through affiliate broker ThinkMarkets, which is licensed by a number of regulators worldwide - FCA (UK), ASIC (Australia), CySEC (Cyprus), JFSA (Japan), FSCA (South Africa), and the FSA (Seychelles).
•No restrictions on the use of strategies. Any strategy may be applied, subject to the trading rules of the company. Permissible strategies include algorithmic trading, hedging, scalping, and Martingale.
•High income of the trader is 75% of the money earned.
•A wide range of assets includes more than 100 instruments as well as cryptocurrencies.
•No risk. If the maximum loss and drawdown requirements are met, the loss is covered by SurgeTrader.
•Transparency and loyalty. All legal documents and conditions are available on the website in the public domain. The company allows violations of trading rules if they are random and not systematic.
👎 Disadvantages of SurgeTrader:
•The high exam cost is from USD 250-6,500. In case of violation of trade requirements, the discount for re-taking the exam is up to 20%.
•Tough conditions. The daily drawdown is no more than 5%, and the maximum loss is up to 4%.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
SurgeTrader Commissions and Fees
The Traders Union analysts carried out a comparative analysis of the commissions that will need to be paid to SurgeTrader when working on Forex through the ThinkMarkets broker. The prop company does not charge commissions, its income is 25% of the profit earned by the trader. But there are commissions of payment systems and on spreads.
| Account type | Spread (minimum value) | Withdrawal commission |
| ThinkZero | From $1 | No |
| Standard | From $4 | Yes |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
SurgeTrader Minimum deposit
How to Start Making Profits — Guide for Traders
To start cooperation, you must apply by email and pay for the selected tariff package. After payment, access to the test account and the conditions for its launch will be sent to your email. The conditions are to receive 10% profit and comply with the trading conditions of the prop company. After passing the exam, access to a real account with conditions similar to a test account is sent to the email.
Package types:
For each package, there are restrictions on the trade volume. The more funds there are under management, the greater the allowable trade volume is.
Brokers similar to SurgeTrader
When analyzing SurgeTrader, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of SurgeTrader and other brokers.
Comparison of SurgeTrader with other Brokers
| SurgeTrader | Topstep | FTMO | Funded Trading Plus | The Trading Pit | OneUp Trader | |
|---|---|---|---|---|---|---|
|
Trading platform |
EightCap M4, EightCap M5 |
Deriv Trader, TSTrader, NinjaTrader, TradingView, Bookmap X-ray, Cunningham Trading Systems, DayTradr, InvestorRT, MotiveWave, MultiCharts, Rithmic R|TRADER Pro, Trade Navigator, Volfix.net |
MetaTrader4, MetaTrader5, cTrader |
MetaTrader4, MetaTrader5 |
MetaTrader4, MetaTrader5, BOOKMAP, R Trader, QUANTOWER |
Ninja Trader, RTrader, iTrader, Photon, QScalp |
|
Min deposit |
$250 |
$1 |
$155 |
$119 |
$99 |
$125 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
1:1 |
|
Trust management |
No |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
|
Spread |
From 0.1 points |
From 0 points |
From 0 points |
From 0 points |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
ECN |
Instant Execution |
Market Execution |
No |
No |
|
No deposit bonus |
No |
No |
No |
No |
No |
No |
|
Cent accounts |
No |
No |
No |
No |
No |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Based on the results of the analysis, Traders Union experts have concluded that the fees charged by the broker are average. There are companies with lower fees. The broker offers a low minimum deposit, but average fees do not make this broker a good choice for novice traders.
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FAQs
Can the minimum deposit differ depending on the trading account type?
Yes. Brokers often encourage clients to deposit large amounts to the account by offering better trading conditions.
What are non-trading fees?
Non-trading fees are the fees charged outside the trading process, for example deposit and withdrawal fee, inactivity fee, etc.
Can the level of fees differ for cent and standard accounts?
Yes. On cent accounts, the fees are generally lower than on standard accounts.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!