SurgeTrader

On September 30, 2024, SurgeTrader announced it would no longer accept new evaluations and would wind down existing funded accounts. The firm cited "industry-wide operational pressures" and rising costs of broker partnerships in its closing communication. SurgeTrader had been one of the more transparent firms in the U.S. retail prop space, with relatively clean rules and published payout statistics. Its closure marked one of the first high-profile exits of a firm without a regulatory or broker-blocking event behind it — taken instead as a sign that the unit economics of the post-MFF prop industry were genuinely tough.