- Stellar Trustpilot score: 4.7/5
- Maximum account balance of $1,500,000 with 80% profit split
- Bi-weekly remunerations and account scaling feature
- Trading flexibility: overnight, weekends, and news-based trading
- Leverage of up to 1:100
- Access to comprehensive trading instruments.
SurgeTrader
- $1,000,000 capital with Trustpilot rating of 4.5/5
- Real accounts; $1,000,000 challenge account
- 75%-90% profit share with available add-ons
- Overnight, weekend, and news trading permitted
- No minimal trading days; one-step evaluation.
Cons ❌
MyFundedFX
- Trailing drawdown in one-step accounts
- Restriction on lot sizes
- Absence of a Free Trial
SurgeTrader
- Stop-loss required for each trade
- Maximum open size 1 lot / $10,000 of the account balance
- Trailing drawdown
Rules 📋
MyFundedFX
Lot Size Limit, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
SurgeTrader
Lot Size Limit, Maximum Daily Loss, Maximum Trailing Drawdown, Profit Target, Stop Loss Required
Comparing MyFundedFX and SurgeTrader for Retail Traders
Retail traders constantly search for reliable and flexible proprietary trading firms that can provide the tools and conditions for success in the fast-paced world of trading. Two such firms, MyFundedFX and SurgeTrader, offer varied benefits tailored to meet diverse trading needs. Our comparison will delve deep into what each firm brings to the table.
MyFundedFX Overview
MyFundedFX has made a significant impact since its inception in June 2022, boasting a stellar Trustpilot score of 4.7 out of 5. It proposes a maximum account balance capacious enough at $1,500,000 with an attractive 80% profit split for its traders. Such figures make it evident that MyFundedFX is targeting traders who are serious about scaling their trading careers.
Retail traders will find MyFundedFX's bi-weekly remunerations appealing since regular payouts can substantially support trading consistency and financial planning. Additionally, the account scaling feature indicates a trader-centric approach, allowing for growth and progression within the platform.
With trading flexibility, including the freedom for overnight, weekend, and news-based trading, combined with a leverage option up to 1:100, MyFundedFX assures its users of its adaptability. A wide range of trading instruments further enhances the potential strategies that traders can deploy.
SurgeTrader's Strong Points
SurgeTrader does not fall far behind, with a commendable Trustpilot rating of 4.5 out of 5 and a robust $1,000,000 challenge account that beckons the ambitious trader. SurgeTrader is transparent concerning the real accounts from which traders can expect a profit share range of 75%-90%, depending on additional factor add-ons.
Garnering favor with traders who disdain minimal trading days, SurgeTrader comes with a one-step evaluation system, and overnight, weekend, and news trading opportunities are on the table as well. This level of flexibility is becoming increasingly important for retail traders looking to capitalize on all market conditions.
Considerations When Choosing a Prop Firm
Retail traders should consider some variables before choosing either MyFundedFX or SurgeTrader. While both have their perks, each comes with specific rules and requirements that may affect trading styles and preferences.
For instance, MyFundedFX prescribes a myriad of rules including lot size limits and maximum trading days, which could pose as constraints for some traders. Conversely, the rigid stop-loss requirement per trade at SurgeTrader might be seen as a hindrance to certain trading approaches, even though it promotes disciplined risk management.
Deposits and Withdrawals
Deposit and withdrawal methods can be the tipping point for a trader's selection. MyFundedFX provides the flexibility of using bank wires, crypto, or credit/debit cards for funding accounts, while SurgeTrader limits this to credit/debit cards. As for getting your earnings out, the withdrawal methods vary as well, with MyFundedFX supporting crypto and Deel, in contrast to SurgeTrader's bank wire transfer option.
Accounts and Instruments
Talking about availability and diversity, MyFundedFX offers a comprehensive range of account sizes and tradeable instruments, including commodities, crypto, forex, indices, and metals. This is particularly beneficial for traders who prefer portfolio diversification and multiple asset classes.
SurgeTrader seems more restrained in this aspect, with commodities being the focus of its tradeable instruments. Furthermore, while MyFundedFX offers accounts in USD only, SurgeTrader facilitates accounts in both USD and GBP, which could be advantageous for traders outside the US.
Critical Conclusion
Every prop firm has its competitive edge. MyFundedFX stands out with its higher maximum account balance, trading flexibility, and extensive instruments range, tailored for the trader looking for growth and diversity. In contrast, SurgeTrader offers simplicity in its approach with the potential for high-profit shares, catering to those who prefer a more straightforward path to trading success.
Retail traders need to weigh the pros and cons of each firm according to their individual trading strategies, risk tolerance, and financial goals. Both MyFundedFX and SurgeTrader offer unique opportunities and it is down to the personal choice of the trader, in line with their aspirations and approach to the markets, to select the prop firm that aligns best with their vision.
