In this detailed comparison, we aim to provide forex traders with a clear understanding of what SurgeTrader and FundedNext offer. Both proprietary trading firms are recognized for their contributions to the trading community, yet they possess distinct features and opportunities for traders worldwide.
Overview of Company Details
SurgeTrader, established in September 2021, and FundedNext, which began operations in March 2022, showcase their unique standing in the proprietary trading firm landscape. SurgeTrader, under the leadership of Jana Seaman, operates from Naples, Florida, offering traders a chance to manage up to $1,000,000 in evaluation accounts. Conversely, FundedNext, led by Abdullah Jayed, is headquartered in the United Arab Emirates and Bangladesh, with a maximum allocation capital of $300,000. Both firms provide scalable plans, reflecting their commitment to trader development.
Funding Program Options Comparison
Both SurgeTrader and FundedNext cater to forex traders with varying program options, including one-phase and two-phase evaluations. However, the specifics of these programs, particularly the one-step evaluation, reveal the nuanced differences between the two.
One-step Evaluation Comparison
- Profit Target: SurgeTrader sets a 10% profit target, similar to FundedNext’s Stellar program, while FundedNext’s Express programs aim for 25%.
- Drawdown Limits: Daily drawdown limits and overall drawdown rules vary, with SurgeTrader allowing up to an 8% (Trailing) overall drawdown and FundedNext offering between 3% to 10%, depending on the program.
- Leverage and Minimum Trading Days: SurgeTrader offers leverage between 1:10 to 1:20 with no minimum trading days, while FundedNext provides 1:100 leverage with specific minimum day requirements across its programs.
- Profit Split: SurgeTrader’s profit split ranges from 75% to 90%, with FundedNext’s schemes offering similar or varying splits, depending on the program selected.
Pricing Structure for Account Sizes
The pricing structures for both SurgeTrader and FundedNext highlight the investment required at different account sizes, offering traders flexibility in choosing a plan that suits their financial and trading strategy.
Brokers & Trading Platforms
SurgeTrader partners with ThinkMarkets, while FundedNext works with Incenteco and GrowthNext, utilizing the MetaTrader 4 and MetaTrader 5 platforms. This section underscores the importance of choosing a prop firm that aligns with a trader’s preferred trading platforms and brokerages.
Available Trading Instruments
While both firms offer forex pairs, commodities, and indices, SurgeTrader also provides options for trading equities and cryptocurrencies, offering a broader range of trading instruments compared to FundedNext.
Community Feedback: Trustpilot Reviews
Community feedback, as seen on Trustpilot, indicates a high level of satisfaction with both firms. However, FundedNext’s higher number of reviews suggests a larger user base or more extensive community engagement.
Conclusion
Both SurgeTrader and FundedNext offer robust platforms for forex traders, each with its unique advantages. SurgeTrader appeals to traders seeking higher capital allocation and a wide range of trading instruments, while FundedNext stands out for its variety in evaluation programs and favorable profit splits. Ultimately, the choice between SurgeTrader and FundedNext will depend on the individual trader’s goals, risk tolerance, and trading style.
