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

Discussion in 'Prop Firms' started by rbigsby, May 27, 2024.

  1. rbigsby

    rbigsby

    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.
     
    #11     May 27, 2024
  2. rbigsby

    rbigsby

    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" ?
     
    #12     May 27, 2024
  3. 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.
     
    #13     May 27, 2024
  4. traderjo

    traderjo

    Where are they regulated ( were regulated)
     
    #14     May 27, 2024
  5. traderjo

    traderjo

    Ponzi + Test fee Prop .. what a combo! ideal business model!
     
    #15     May 27, 2024
  6. Overnight

    Overnight

    How predictable. There's a song for that..

     
    #16     May 27, 2024
  7. traderjo

    traderjo

    #17     May 28, 2024
  8. rbigsby

    rbigsby

    #18     May 28, 2024
  9. rbigsby

    rbigsby

    Standard business model. But i heard one of them was offering 50k accts for $16.
     
    #19     May 28, 2024
  10. rbigsby

    rbigsby

    According to https://forexpropreviews.com/surgetrader-offices/

    SurgeTrader is a legitimate proprietary trading firm incorporated in September 2021, with offices in Naples, Florida.

    "Incorporated" doesn't mean anything though. I think anyone can form a corporation.
     
    #20     May 28, 2024