NEWS
FX Newsroom has learned that SurgeTrader, a proprietary trading firm headquartered in Florida, has halted its operations subsequent to the suspension of its Match-Trader platform license, supplied by Match-Trade Technologies, just a week ago.
SurgeTrader issued a statement on its official website, expressing, “It is with profound regret that we announce the cessation of SurgeTrader’s operations, effective today, Friday, May 24, 2024. Despite our relentless efforts this week to engage with Match-Trade Technologies to address the termination of our trading platform, regrettably, we have been unsuccessful.”
In February, SurgeTrader, among several other prop trading entities, encountered obstacles from MetaQuotes, the technology provider behind the widely-used MT4/MT5 trading platforms. In response, these trading firms opted to transition to alternative platforms, including Match-Trader.
However, SurgeTrader faced another setback last week when Match-Trade Technologies abruptly withdrew its license. Match-Trade Technologies cited SurgeTrader’s “failure to meet the contractual obligations stipulated in our agreement” as the basis for its decision, withholding further elaboration.
