Funded Trading Plus vs SurgeTrader

Funded Trading Plus Overview

Funded Trading Plus emerges as a formidable prop trading firm, enticing users with an impressive lineup of four different funding programs, with potential capital allocations scaling up to a substantial $2.5 million. Their standing in the trading community is exemplified by a stellar Trustpilot rating of 4.9 out of 5, which suggests a high level of trader satisfaction. The firm notably beckons with a generous 90% profit split, which is on the higher end compared to industry standards. Excellent support is a foundational pillar for Funded Trading Plus, providing traders the assistance and confidence they need to navigate the markets. Additionally, they offer a practical scaling option for traders looking to progressively increase their capital base dependent upon performance. A unique selling point is their comprehensive array of trading tools that span across forex, commodities, indices, and cryptocurrencies, granting traders a wide berth to strategize and diversify. Furthermore, the absence of trading day restrictions, including allowance for overnight and news trading, offers significant flexibility, an attribute highly prized by seasoned traders.

SurgeTrader Overview

SurgeTrader presents itself as an alluring option for traders aiming for high capital, offering accounts up to $1,000,000. This firm scores a notable 4.5 out of 5 on Trustpilot, which, although slightly lower than Funded Trading Plus, still indicates a strong level of trader satisfaction. SurgeTrader distinguishes itself by providing real trading accounts and a standout $1,000,000 challenge account that could be an attractive draw for ambitious traders. The firm boasts a competitive profit share ranging from 75% to 90%, with add-ons available which could further entice traders. SurgeTrader steps in line with Funded Trading Plus by not imposing any restrictions on news trading, overnight, or weekend positions, providing traders with the much-needed autonomy that mimics realistic trading conditions. However, SurgeTrader does lay down a few stringent requirements, such as the obligation for each trade to carry a stop-loss and limitations on the maximum open size, being 1 lot per $10,000 of the account balance—a rule that risk-averse traders might appreciate but could be limiting for those with higher risk tolerance.

Comparative Analysis

While both Funded Trading Plus and SurgeTrader offer attractive conditions for prop trading, there are noticeable differences that may influence a trader's choice. Funded Trading Plus's higher potential capital offer and profit split are particularly impressive, positioning it as exceptionally favorable for profit-driven traders. Its no trading day restriction and allowance for various trading strategies, including the use of comprehensive trading instruments, provide a high degree of flexibility which is advantageous for traders with a broad operational range. SurgeTrader, on the other hand, maintains a strong position with their $1,000,000 challenge account. Although it may seem slightly more conservative with its mandatory stop-loss policy and maximum open size restrictions, these could indeed serve as prudent risk management safeguards that align with certain trader's strategies and temperaments.

Payment Methods and Account Management

Payment and withdrawal methods are vital for user convenience. Funded Trading Plus offers a modern approach by accepting credit/debit cards and cryptocurrencies for both deposit and withdrawal, along with the payout service Deel. SurgeTrader, however, remains more traditional, offering credit/debit cards for deposits and bank wire transfers for withdrawal. When it comes to account sizes and currencies, Funded Trading Plus provides a diverse range of account options denominated in USD, which could appeal to traders seeking to start small or aim high. SurgeTrader keeps it straightforward with accounts in USD and GBP, catering to a specific trader demographic.

Instrument Selection and Trading Rules

In terms of tradeable instruments, Funded Trading Plus clearly takes the lead by offering a broader variety that includes not just commodities but also crypto, forex, indices, and metals. This wider selection will naturally appeal to traders who look for diversification in their trading approach. Both firms enforce trading rules such as maximum daily loss and profit targets, which are pretty standard to ensure trader discipline and risk management. However, Funded Trading Plus prohibits weekend holding and imposes rules concerning the use of third-party copy trading and Expert Advisors (EAs), which could influence traders who rely heavily on automated strategies.

Company Standing and Service Duration

Funded Trading Plus has been operational since November 2021, and although SurgeTrader's date of incorporation is unknown, the duration of service could impact a trader's confidence in the firm's stability and experience in the industry.

Final Thoughts

Retail traders considering a prop trading firm would do well to take into account these comparative insights. Funded Trading Plus seems to cater to a wider audience with its broad instrument offerings, higher potential capital, and more attractive profit split, though its restrictions on certain third-party tools may not be for everyone. SurgeTrader may appeal to those appreciating a more conservative approach, especially if they prefer stricter risk management protocols. Ultimately, potential users should weigh these factors in line with their trading style, risk appetite, and financial goals when making their choice.