- Match-Trader revokes SurgeTrader’s license due to alleged failure to meet formal requirements.
- SurgeTrader suspends new “auditions” for traders, exploring legal options in response.
Match-Trader Technologies has terminated its partnership with Florida-based prop trading firm SurgeTrader, citing the firm’s “failure to meet formal requirements” outlined in their agreement.
This unexpected move has sparked controversy within the trading community, as SurgeTrader claims the termination is “unwarranted and harmful.”
The decision follows a wave of prop firms migrating to Match-Trader after MetaQuotes, the creator of MetaTrader 4 and 5, suspended numerous licenses.
SurgeTrader, in response to the termination, has temporarily halted new “auditions” for traders while actively seeking an alternative trading platform or a resolution with Match-Trader.
SurgeTrader maintains that it has fully cooperated with Match-Trader’s legal team and addressed all concerns, suggesting that an external factor may have influenced the decision.
The firm is now pursuing legal avenues to challenge the termination and mitigate the disruption caused to its operations and the wider trading community.
