How To: Filter Through The Scams In Prop Firms With SurgeTrader Founder, Jana Seaman
SurgeTrader is a global prop trading firm, based in the United States, helping traders around the world earn better profits on their trading skill. The firm and their trader community carry deep venture capital backing from their partner Valo Holdings Group. Thus, the company’s finances are stable and secure — and capital investments are deployed with the objective of long-term success, rather than short-term gain.
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00:00 Welcome, it's Michael Murray here with Benzinga.
00:04 Very excited to welcome in Jaina from SurgeTrader here with us.
00:07 Excited to be working with the SurgeTrader team.
00:09 And Jaina, it's great to have you here with us.
00:10 How are you?
00:11 Thank you so much.
00:12 I'm doing really well.
00:13 It's great to be back with Benzinga today.
00:14 Awesome to have you guys with us as always.
00:17 Get us started here by giving us a quick overview of SurgeTrader.
00:20 Can you start us there?
00:21 SurgeTrader is a proprietary trading firm.
00:23 What we do is we offer traders access to our institutional capital so that they can increase
00:28 and maximize their gains in the market.
00:30 Fantastic.
00:31 Now, Jaina, the rise of online prop firms has kind of brought with it its host of grifters
00:35 and scammers.
00:37 What are some of the telltale signs that traders can look for to avoid these in the marketplace?
00:41 Yeah, something that traders should look for is transparency and honesty when they're looking
00:45 for a prop firm.
00:46 At SurgeTrader, we have simple, straightforward rules, and they're designed to create a friendly,
00:50 easy to use experience for all of our traders.
00:53 In addition to that, we're fully transparent about who we are as a company, who our ownership
00:57 team is, and where our capital comes from that we allow the traders to access.
01:01 We want them to have the best industry experience day in and day out.
01:06 Some prop firm offerings are another thing to keep an eye out for.
01:10 The last several months, we've seen several firms enter the market with really unrealistic,
01:14 almost too good to be true offerings.
01:17 Those offerings quickly catch up to the companies, and what they end up doing in the end is hurting
01:21 the traders.
01:22 Absolutely.
01:23 Now, SurgeTrader has a great track record in paying out what it owes to traders.
01:27 Is it that common to not do this in the industry, and how do other firms get away with that
01:31 on a regular basis?
01:32 Unfortunately, it's more common than you would imagine.
01:35 Here at SurgeTrader, we take enormous pride in saying that we have completed every payout
01:39 owed since our founding over two years ago.
01:42 Many other firms use a lot of complex rules and time limits or different structures to
01:47 get out of their payouts.
01:49 But what our traders earn, we pay out every single time.
01:53 Outstanding.
01:54 How important is it to be based in the US and have a physical office space?
01:58 Is that important in this industry?
02:00 To us, it's a big part of who we are.
02:02 It adds another layer of credibility in that transparency and allowing people to see who
02:08 we are and where we are.
02:10 There's nothing to hide here at SurgeTrader.
02:12 We have a beautiful trading pit, that we call it, that we're headquartered in here in Naples,
02:17 Florida.
02:18 When you call into SurgeTrader and you talk to customer support, or we're filming our
02:22 marketing videos, or you see the traders trading, it's all happening here in the pit, here in
02:27 the US, and adding another layer of credibility and relatability to our traders.
02:31 100%.
02:32 Now, how can a prop firm help traders help themselves?
02:35 What kind of risk management strategies does SurgeTrader encourage?
02:38 There are a number of ways that prop firms can help the average trader improve their
02:42 habits or strategies.
02:44 Stop losses are a great example of that, requiring all of our traders to input a stop loss before
02:48 executing trades.
02:50 Not only are they practicing excellent risk management, but it also ensures that they
02:53 calculate and take into account all possible outcomes when they're placing a trade.
02:57 Absolutely.
02:58 Now, where does SurgeTrader stand in the prop trading industry right now?
03:01 Can you give us a sense of that, Jaina?
03:03 Yeah, for sure.
03:04 We're one of the top 10 largest prop firms globally.
03:07 We have a super solid foundation in capital, and SurgeTrader's built to last and will always
03:11 be a prop firm that traders can feel confident about partnering with and always getting their
03:17 payouts.
03:18 Amazing.
03:19 A broader question as we close out here.
03:21 What are some characteristics of a reliable prop firm?
03:24 Can you give us some of the hallmarks of somebody that would sit in that category?
03:27 Yeah, for sure.
03:28 Again, going back to that clear, transparent structure, a prop firm should be transparent,
03:32 should be well-structured, defined policies, procedures, terms.
03:37 They need to have robust risk management.
03:38 A reliable prop firm prioritizes risk management and has robust systems in place to manage
03:43 and control risks associated with the trading activities.
03:47 We employ effective risk management policies, including stop-loss measures, continually
03:53 monitoring positions and market conditions, and mitigating potential issues.
03:57 We have a strong capital base.
03:59 A reliable prop firm has a strong capital base, which provides stability and the ability
04:03 to withstand market fluctuations.
04:05 We have also a positive reputation and a track record.
04:08 They have a track record of successful trading and satisfied traders.
04:12 Support and resources.
04:13 We have the best customer support in the industry.
04:15 You can always talk to a live person here in the pit to help bring our traders through
04:20 any issues that they might encounter on our platform.
04:23 That's great.
04:24 Jayna, like I said, every time you join us, you give us great information on what sets
04:27 SurgeTrader apart.
04:28 We're super excited, as always, to be talking with you.
04:30 Thank you so much for some more hallmarks of successful prop trading firms, but especially
04:34 what SurgeTrader is doing to set itself apart.
04:36 Thank you so much for having us.
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