ANSWER SurgeTrader is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.SurgeTrader marks itself as a reliable broker but fails to provide regulatory information and licensing data, which is a clear scam indicator. Since it claims to be located in the US, we searched for this broker in the registry of the National Futures Association (NFA) but no matching records could be found. Therefore, the offering of financial products or services by SurgeTrader is illegal. In addition, the Comisión Nacional del Mercado de Valores (CNMV) added it to its warning list for providing investment services without authorization.Regarding your question, SurgeTrader is a scam. Once your money is in SurgeTrader's system, there are no rules to safeguard it and you may suffer financial losses and identity theft. We strongly suggest investors stay away from unlicensed brokers like SurgeTrader and choose fully regulated ones instead.
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