Prop Firm SurgeTrader Shuts Down a Week after Losing Match-Trader License

I wonder if people can even log into their Surge Trader account anymore because all the links on Google just go to their main page! Those "audition fees" though. I heard they were kind of pricey...
 
rbigsby said:
I wonder if people can even log into their Surge Trader account anymore because all the links on Google just go to their main page! Those "audition fees" though. I heard they were kind of pricey...
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No, man, they have "ceased all operations."

One of the recent comments at Trustpilot says:

Around the end of 2023 an email was sent that live accounts would switch over to simulated accounts.

Seriously?

So some of their "traders," or "members," or "subscribers," or whatever they called them, were trading live accounts with real money and now they are not?

Gee, what happened to their live positions? And any cash they had in the account?

Oh, wait a minute... it wasn't their money. It was the firm's money, because they made it through an audition, and they got funded.

That money was never real. Even on so-called live accounts, the firm was taking the other side of the trades.

Anyone who thinks they're going to get a refund from this outfit is dreaming.

Anyone who thinks they're going to get a payout is smoking something.
 
By now it is pretty clear that these business models are either complete fraud or just set to collect test fees .. the wild wild west of unregulated products
 
BMK said:
No, man, they have "ceased all operations."

One of the recent comments at Trustpilot says:

Around the end of 2023 an email was sent that live accounts would switch over to simulated accounts.

Seriously?

So some of their "traders," or "members," or "subscribers," or whatever they called them, were trading live accounts with real money and now they are not?

Gee, what happened to their live positions? And any cash they had in the account?

Oh, wait a minute... it wasn't their money. It was the firm's money, because they made it through an audition, and they got funded.

That money was never real. Even on so-called live accounts, the firm was taking the other side of the trades.

Anyone who thinks they're going to get a refund from this outfit is dreaming.

Anyone who thinks they're going to get a payout is smoking something.
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It's a communication problem how are you going to get paid if they aren't communicating? I heard their 100k challenge fee was $700. That was $700 down the drain :mad:
 
I am surprised people are just taking this laying down. They seem resigned to getting nothing back. Maybe they've been down this road before?

 
rbigsby said:
I am surprised people are just taking this laying down. They seem resigned to getting nothing back. Maybe they've been down this road before?

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Test fees are normally under $300 so people don't bother ,,, and this is exactly what these business models prey on 10,0000 x $200 collected few thousands funded or one day just make a runner... why the regulators are not acting,, the problem is under the disguise of "Freedom of everything" there are strong lobbies who oppose any sort of regulation... dog eat dog ( dog eat dog is fine AKA market risk but here we are talking about fraud and dishonest business model , Trader don't and can't complain about market risks , it is the other risk, be it OTC counter party/ Non regulated practices ( monster Leverage ) Exchange going belly up ( Crypto)
 
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