surgetrader.com Scam Check: 10/100 Trust | ScamMinder

Exercise caution when interacting with this website.

SurgeTrader's business model and the way it operates raise several red flags: High Audition Fees: The fees for the auditions are quite high, ranging from $250 to $6,500. Legitimate prop trading firms typically have much lower or no fees for their evaluation programs. Unrealistic Profit Share: Offering up to 90% profit share is highly unusual in the prop trading industry. Most reputable firms offer profit splits in the range of 50-70%. The promise of such high profit shares could be a tactic to lure in traders. Lack of Regulation: The website does not mention any regulatory oversight or compliance with financial authorities. This is a major concern, as regulated firms are required to adhere to strict standards and provide investor protection. Migration Issues: The message about migration in progress for both US and international traders is vague and could be a tactic to buy time or divert attention from potential issues. Inconsistent Testimonials: While there are positive testimonials on the website, it's important to note that these can be easily fabricated. Legitimate reviews are typically found on independent platforms like Trustpilot or Forex Peace Army. Complex Fee Structure: The add-on purchases for increasing profit share and leverage, along with different audition fees for varying account sizes, create a complex and non-transparent fee structure. Lack of Detailed Information: The website lacks detailed information about the company's history, team, and specific trading strategies. Legitimate prop trading firms are usually transparent about these aspects. Overall, the combination of high fees, unrealistic profit share promises, lack of regulation, and vague information raises significant concerns about the legitimacy of SurgeTrader. It's advisable for traders to exercise extreme caution and thoroughly research any prop trading firm before getting involved, especially when significant financial commitments are involved."

• High Audition Fees, Unrealistic Profit Share, Lack of Regulation, Migration Issues, Inconsistent Testimonials, Complex Fee Structure, Lack of Detailed Information