Surgetrader, once considered one of the better-run firms in the prop trading industry, has closed its doors. This is another blow to an industry that has seen several prop trading firms cease operations.
In Surgetrader’s case, it never recovered from losing access to the MetaQuotes MT4 and MT5 platforms (along with other prop firms). It then took another blow when it lost access to Match-Trade Technolgies platform, leaving it without a way to fund its business with new trading auditions.
The handwriting was seen on the wall when Surgetrader went into silent mode about a week ago after announcing that Match-Trade was pulling the plug and not reporting it had a replacement.
Whether this was the result of mismanagement to replace Metaquotes or something more is irrelevant. Surgetrader has ceased operations.
This is posted on the Surgetrader website:
ATTENTION SURGETRADERS
It is with deep regret that we announce that as of today, Friday, May 24, 2024, SurgeTrader has closed and ceased all operations. Despite all of our efforts this week to get Match Trade Technologies to further communicate in an effort to resolve our trading platform termination, we have been unsuccessful.
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