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

schizo said:
So even after scamming people, you don't actually go to jail as long as you cough up whatever you stole (plus interest)? I dunno about you, but I don't call that justice. :rolleyes:
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i heard it was his wife who was the CEO of Surge Trader though, not him. so i guess he was just in the background maybe.
 
so i guess the big question is: does them announcing they are ceasing all operations relieve them of any financial responsibility to any of their customers (aka traders)? from the way the announcement sounded, it seems like they are GONE. but i'm sure there are traders that had paid for some of their products/services and didn't get them fulfilled to completion, some people maybe looking to get a payout at some point in the near future etc. i guess "screw them" ?
 
Why would anybody want to trade in a prop firm anyway and be stuck following their stupid trading rules like cutting losses early and taking partial profits...amateur hour.
 
rbigsby said:
so i guess the big question is: does them announcing they are ceasing all operations relieve them of any financial responsibility to any of their customers (aka traders)? from the way the announcement sounded, it seems like they are GONE. but i'm sure there are traders that had paid for some of their products/services and didn't get them fulfilled to completion, some people maybe looking to get a payout at some point in the near future etc. i guess "screw them" ?
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Where are they regulated ( were regulated)
 
rbigsby said:
It is with deep regret that we announce that as of today, Friday, May 24, 2024, SurgeTrader has closed and ceased all operations. Despite all of our efforts this week to get Match Trade Technologies to further communicate in an effort to resolve our trading platform termination, we have been unsuccessful.

I am sure all their current customers are not too happy. Especially if they were getting close to a PAYOUT.
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How predictable. There's a song for that..

 
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