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SurgeTrader Review
SurgeTrader was a Florida futures and forex prop firm that shut down on May 24, 2024, after losing its trading platform licenses, with about 10 percent of payouts unpaid.
Min Deposit
$2024
Spreads From
Not applicable, the firm is closed
Max Leverage
Not applicable, the firm is closed
Platforms
MetaTrader, used until early 2024, Match Trader, used briefly before closure
Pros
- Built a fast reputation after launching in 2021 under CEO Jana Seaman
- Migrated to a new platform quickly after the 2024 MetaQuotes license cuts
- Ceased operations quickly rather than leaving accounts open with no support
- Paid out the large majority of trader payout obligations before it closed
Cons
- Closed permanently on May 24, 2024, and cannot be joined today
- About 10 percent of trader payout obligations went unpaid at closure
- Spain's CNMV publicly warned it was not an authorised investment firm in 2023
- Its Florida LLC registration is now listed as revoked
- Lost both its MetaTrader and Match Trader platform licenses within months
SurgeTrader was a proprietary trading firm founded in 2021 by CEO Jana Seaman, based in Naples, Florida, and run under Valo Holdings Group. In May 2023, the Spanish regulator CNMV publicly warned that SurgeTrader and Valo Holdings Group were not authorised to offer investment services in Spain.
In early 2024, MetaQuotes pulled MetaTrader access from many United States facing prop firms, and SurgeTrader moved to the Match Trader platform instead. Match Trade Technologies then terminated that license too, over a contract dispute, in April 2024. Without a working platform, SurgeTrader announced on X on May 24, 2024, that it had closed and ceased all operations.
SurgeTrader's own CEO later said close to 10 percent of trader payout obligations went unpaid when the firm closed. Its Florida registration is now listed as revoked. SurgeTrader is closed. Do not send it a deposit or evaluation fee. This page records its history for people searching what happened to it.
Min. Deposit
USD 2024
Max Leverage
Not applicable, the firm is closed
Spreads From
Not applicable, the firm is closed
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
