Terms and conditions for participation in the SurgeOptions program
This SURGEOPTIONS TRADER PROGRAM AGREEMENT (this "Agreement") is entered into by and between:
(i) SURGE TECHNOLOGIES LLC, a Wyoming limited liability company, located at 30 N Gould St Ste R Sheridan, WY 82801, doing business as "SurgeOptions" ("SurgeOptions", "Firm", "we", "us", or "our"); and
(ii) The individual whose details are provided during online registration ("Trader", "you", or "your").
SurgeOptions and Trader may be referred to individually as a "Party" and collectively as the "Parties".
BY CLICKING "I AGREE", ELECTRONICALLY SIGNING, OR BY ACCESSING OR USING ANY SURGEOPTIONS PROGRAM, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE LEGALLY BOUND BY THIS AGREEMENT.
SurgeOptions operates a proprietary trading evaluation and funding program (the "Program") under which qualified traders may:
(a) participate in simulated or paper-trading evaluation accounts to demonstrate trading skill and risk discipline ("Evaluation Accounts"); and
(b) upon meeting specified rules and objectives, become eligible to trade options with real capital in accounts funded by, or on behalf of, SurgeOptions ("Funded Accounts" or "Live Accounts").
This Agreement sets forth the terms under which you may access the Program. You are an independent contractor, not an employee, partner, agent, or representative of SurgeOptions. Nothing in this Agreement creates an employer–employee relationship, partnership, or joint venture.
SurgeOptions is not acting as your broker, financial advisor, investment advisor, or fiduciary, and does not execute trades on your personal brokerage account. Execution and clearing for Program accounts may be provided by one or more third-party brokers, dealers, or technology providers (collectively, "Execution Partners"). Any trading you perform under the Program is done in accounts controlled by, or on behalf of, SurgeOptions or its affiliates, not in your personal brokerage account.
For purposes of this Agreement:
2.1 "Account" means any Evaluation Account, Instant Funding Account, Pre-Funded Account, or Funded Account made available to Trader by or through SurgeOptions.
2.2 "Dashboard" means the online portal, website, or platform interface provided by SurgeOptions or its technology partners where you can view your trading metrics, Program Rules, and account parameters.
2.3 "Drawdown Limit" or "End-of-Day Drawdown Limit" means the maximum permitted loss level, expressed as a dollar amount and/or percentage of account size, that is applied based on end-of-day ("EOD") net equity or as otherwise described in the Program Rules.
2.4 "Evaluation Fee" means the recurring subscription fee (e.g., US$49.99/month for certain plans) that you pay to participate in an Evaluation Account, as set forth on the SurgeOptions website from time to time.
2.5 "Activation Fee" means the one-time fee payable upon successfully meeting the evaluation objectives and before activation or continuation of any pre-funded or Funded Account, in the amount specified on the SurgeOptions website and/or order form (including any promotional pricing).
2.6 "Instant Funding Account" means any account type where, upon payment of a specific fee (for example, an instant funding product priced at or around US$499), you may be granted access to trade a pre-funded or funded account subject to Program Rules, without first completing a standard Evaluation Account.
2.7 "Program Rules" means the trading rules, objectives, parameters, and restrictions (including profit targets, minimum number of winning days, drawdown limits, position limits, permitted products, and payout criteria) as published on the SurgeOptions website, within the Dashboard, or in Program-specific documentation, each as may be updated from time to time.
2.8 "Profit Split" means the percentage allocation of net trading profits between SurgeOptions and Trader for a given Account (e.g., 90% Trader / 10% Firm in certain Live Account stages), as specified in the Program Rules.
2.9 "Winning Day" means a trading day where net P&L (after commissions and fees) meets or exceeds the minimum profit requirement set forth in the Program Rules (for example, a minimum of US$150 Net P&L per such day), as calculated by SurgeOptions.
(a) Subscription-Based Evaluation. Evaluation Accounts are typically offered on a recurring subscription basis (for example, approximately US$49.99 per month for certain 50K evaluation tiers), as stated on the SurgeOptions website at the time of purchase.
(b) Objectives. To successfully complete an Evaluation Account, you must satisfy the then-current Program Rules and objectives applicable to your chosen evaluation tier. These may include, without limitation:
(c) Passing Requirements. To pass an Evaluation Account and become eligible for a Funded Account, you must: (1) reach or exceed the profit target, (2) have all positions closed, and (3) not have violated any trading rules including the drawdown limit and position closure requirements.
(d) Swing Trading. Swing trading (holding positions throughout the trading day) is permitted. Overnight positions are also allowed. All positions must be closed by 4:00 PM Eastern Time each trading day for daily P&L calculation purposes.
(e) EOD Trailing Drawdown. The Program uses an End-of-Day (EOD) trailing drawdown. The drawdown limit (4% or $2,000) trails up as your account grows, meaning your maximum loss floor rises with your gains. Once your account reaches $52,000, the drawdown locks and your floor becomes $50,000 permanently. A breach of the Drawdown Limit is measured on an end-of-day basis. SurgeOptions' calculations and records shall be final and binding.
(a) Pre-Funded Stage. Upon completion of the Evaluation Account and payment of any applicable Activation Fee, you may be granted access to an intermediate, pre-funded, or pseudo-funded stage (if applicable) with specific payout caps and risk parameters, as described in the Program Rules.
(b) Transition to Live Account. After meeting the requirements detailed in the Program Rules (for example, successfully requesting and receiving a specified number of payouts, which may currently be three (3) payouts capped at a certain US dollar amount per payout), you may be transitioned to a Live Account trading real capital with a Profit Split (for example, 90% Trader / 10% Firm). The specific payout caps, frequency, and conditions shall be as set forth in the Program Rules.
(c) Daily / Weekly Payout Eligibility. Eligibility for payouts (including any weekly or daily payout options) will be governed exclusively by the applicable Program Rules, which may specify, among other things:
(a) Instant Funding Products. SurgeOptions may offer Instant Funding Accounts whereby, upon payment of an upfront fee (for example, an instant funding product at or around US$499), you gain access to an account with predefined size, drawdown, and payout rules without first completing the standard evaluation objectives.
(b) Applicability of Rules. Instant Funding Accounts remain fully subject to this Agreement and the Program Rules, including risk limits and Prohibited Conduct restrictions.
(a) Publication. The specific numerical values for account sizes, profit targets, drawdown limits, Winning Day minimums, payout caps, and other quantitative parameters (collectively, "Program Parameters") will be published on the SurgeOptions website, Dashboard, or applicable product page.
(b) Updates. SurgeOptions may modify Program Rules and Program Parameters from time to time, with or without prior notice, and such changes shall become effective when posted. Your continued use of any Account after such changes are posted constitutes your acceptance of the updated Program Rules.
(a) Non-Refundable. All Evaluation Fees, Activation Fees, and Instant Funding fees are typically non-refundable, except as may be expressly stated in our written refund policy (if any) or required by applicable law.
(b) Promotions. Any promotional pricing (for example, temporary sale pricing such as a reduced Activation Fee) applies only as expressly stated on the SurgeOptions website or promotional materials and may be modified or withdrawn at any time.
(a) General. Subject to compliance with this Agreement and the Program Rules, you may be eligible to receive a share of net trading profits generated in your Funded Account or other qualifying Account.
(b) Profit Split. The applicable Profit Split (for example, 90% Trader / 10% Firm on certain Live Accounts) and any payout caps or minimums will be specified in the Program Rules.
(c) Method and Timing. Payouts will be processed via the payment method(s) supported by SurgeOptions at the time of the payout request. SurgeOptions may impose minimum payout thresholds, fees, or processing times as disclosed in the Program Rules.
(d) Payout Reviews. SurgeOptions may review any Account activity prior to processing a payout to ensure compliance with Program Rules, to investigate suspected Prohibited Conduct, or to resolve discrepancies.
(e) Payout Limits.
(a) Chargebacks. If you initiate or cause any chargeback, reversal, or dispute of fees paid to SurgeOptions, SurgeOptions may, in its discretion:
(b) Setoff. SurgeOptions may set off any amounts you owe against any amounts we owe you, including payouts.
(a) Trader Responsibility. You are solely responsible for all taxes, duties, and governmental charges of any kind arising out of or in connection with payouts or compensation you receive under this Agreement.
(b) Reporting. SurgeOptions may report compensation and payouts as required by applicable tax laws and may withhold taxes where required by law.
You agree to strictly abide by all Program Rules, including without limitation:
You agree not to engage in any of the following ("Prohibited Conduct"):
(a) Remedial Actions. If SurgeOptions determines, in its sole discretion, that you have violated any Program Rule or engaged in Prohibited Conduct, it may, without limitation:
(b) Finality. SurgeOptions' determinations based on its records, platform logs, and Execution Partner data shall be final and binding absent manifest error.
Trading access may be provided through third-party platforms or technology providers (including but not limited to options trading platforms and order routing systems). You agree to comply with all such providers' terms of use.
While SurgeOptions endeavors to provide reliable access, we do not warrant continuous or error-free operation of any website, Dashboard, or trading platform. Scheduled and unscheduled downtime may occur.
Performance metrics, trade history, and other data shown in the Dashboard are for informational purposes and may be subject to reconciliation. In the event of discrepancy between platform metrics and Execution Partner records, the latter shall generally control.
All intellectual property in the Program, including but not limited to the SurgeOptions name, logos, website content, Dashboard design, trading tools, and proprietary evaluation models, are owned by SurgeOptions or its licensors. You receive no rights in such intellectual property other than a limited, revocable license to use the Program in accordance with this Agreement.
You represent, warrant, and covenant that:
SurgeOptions makes no representation or warranty:
Options trading involves substantial risk and is not suitable for all investors. Losses can exceed initial amounts and may occur rapidly. You acknowledge that you understand these risks and voluntarily assume them.
Nothing in the Program, on the SurgeOptions website, or in any communication from SurgeOptions shall be construed as investment, legal, tax, or accounting advice. You are solely responsible for your trading decisions.
Any educational content, commentary, trade examples, or discussions provided by SurgeOptions or its representatives are for general educational purposes only and do not constitute individualized recommendations.
This Agreement shall commence upon your acceptance and continue until terminated by either Party in accordance with this Section 9.
You may terminate this Agreement at any time by:
SurgeOptions may suspend or terminate your Accounts and/or this Agreement at any time, with or without cause, including but not limited to:
(a) Ceasing Access. Upon termination, you must immediately cease all use of the Program and any Accounts.
(b) Payouts. SurgeOptions may, in its discretion, process any final payout due and payable to you as of the date of termination, net of any offsets; provided that it may withhold payouts pending review of potential Prohibited Conduct or rule violations.
(c) Survival. Sections 4 (Fees, Payouts, and Taxes), 5 (Trading Rules and Prohibited Conduct), 6 (Platform Access and Data), 7 (Representations and Warranties), 8 (Risk Disclosure and No Advice), 9.4 (Effect of Termination), 10 (Limitation of Liability), 11 (Indemnification), and 12 (Miscellaneous) shall survive termination.
To the maximum extent permitted by law, neither SurgeOptions nor its affiliates, members, managers, officers, employees, agents, or licensors shall be liable for any indirect, incidental, consequential, special, punitive, or exemplary damages arising out of or relating to this Agreement, the Program, or your trading, even if advised of the possibility of such damages.
To the maximum extent permitted by law, SurgeOptions' aggregate liability arising out of or relating to this Agreement shall not exceed the greater of:
SurgeOptions shall not be liable for:
You agree to indemnify, defend, and hold harmless SurgeOptions and its affiliates, members, managers, officers, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:
This Agreement shall be governed by and construed in accordance with the laws of the State of Wyoming, without regard to its conflict-of-law principles.
(a) Any dispute arising out of or related to this Agreement shall be resolved exclusively by binding arbitration administered by the American Arbitration Association in Sheridan, Wyoming, in accordance with its rules.
(b) The arbitration shall be conducted by a single arbitrator experienced in commercial contracts and financial services.
(c) The Parties waive any right to a jury trial and agree that arbitration shall be the exclusive forum for resolving such disputes, except that either Party may seek injunctive relief in a court of competent jurisdiction.
To the fullest extent permitted by law, disputes shall be resolved only on an individual basis and not as a class, collective, or representative action.
You may not assign or transfer this Agreement or any rights or obligations hereunder without the prior written consent of SurgeOptions. SurgeOptions may assign this Agreement to an affiliate or successor in interest without your consent.
This Agreement, together with the Program Rules and any policies referenced herein, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior or contemporaneous understandings.
SurgeOptions may modify this Agreement by posting an updated version on its website. Continued participation in the Program after such posting constitutes your acceptance of the updated Agreement.
If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.
The failure of either Party to enforce any provision shall not be deemed a waiver of future enforcement of that or any other provision.
You agree that electronic signatures, click-wrap acceptance, and electronic records shall have the same force and effect as manual signatures and paper records.
BY PROCEEDING WITH THE SERVICE, YOU ACKNOWLEDGE THAT YOU HAVE READ THIS AGREEMENT, UNDERSTAND IT, AND AGREE TO BE BOUND BY ITS TERMS.
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