Summit Strike Capital prop firm offers simulated funded accounts ranging from 10k to 200k USD. Since the firm never allows traders to access live markets, it generates revenue from trader fees paid for funded challenge accounts, which is a red flag.
In this Summit Strike Capital review, we will assess the firm’s important features including safety, funding options, rules, assets, support, and more.
Pros & cons of Summit Strike Capital prop firm
Pros
Ability to withdraw with $0 fees
Most payment options are free and instant
Fast and digital account opening/verification
The firm does not offer a scaling plan or funded options beyond 200,000 USD
There are no educational resources provided
Cons
The firm lacks reviews on major platforms like FPA and Trustpilot
operates exclusively with simulated trading accounts
The custom web trading platform offered is limited in functionality
Safety of Summit Strike Capital — 0
Summit Strike Capital reviews are lacking on the FPA platform, indicating that the firm is young and lacks the proper number of trader reviews. The firm has also few reviews on the Trustpilot platform also caused by the firm being too young to accumulate enough online presence. When searching through the FAQ section, we were not able to detect any reference to a broker or trading platform. What this implies is that the firm only offers simulated trading accounts even for their funded traders, has no partner broker to back its trading services, and offers its own web trading platform, all of which are red flags. The firm is not a broker as it does not accept deposits and all user payments are collected as challenge fees. However, it still operates and offers a trading platform that is fully simulated, or in other words, traders can only trade on a demo account at Summit Strike Capital. These are very serious red flags, and it is risky to trade with this firm as it lacks reviews and does not offer trading through a regulated broker on live markets.
The firm gets a 0 score in this section, for offering absolutely no safety net for its traders.
Summit Strike Capital Funding and Maximum Capital Allocation — 3
Summit Strike Capital funded programs are two, standard, and instant. All these accounts are offered on a simulated platform and traders never actually access live markets. The standard account is a 2-step funded challenge, while the instant account allows traders to access the funded account right away and start demo trading for profits. The standard Summit Strike Capital funding challenges have funding options of 10k, 25k, 50k, 100k, and 200k USD, while the instant accounts have the same options, except it is capped at 100k. The instant account allows traders to instantly start trading for profits and has no profit target, as traders are free to achieve any profits and withdraw them.
Summit Strike Capital’s challenges overall lack diversity as there are no 1-step accounts, but with instant and 2-step accounts, the firm still offers decent funded account options.
Summit Strike Capital scaling plan is not available at the moment and traders have to choose from existing accounts, which is a downside for the firm. There are no lower funded options for beginners, which is a drawback, and the firm also lacks higher funded options at 1 million USD. Overall, Summit Strike Capital gets a 3 score in the funding section for offering a decent range but lacking lower and higher funded options.
Summit Strike Capital Assets — 2.5
Summit Strike Capital prop trading firm offers access to Forex pairs, popular cryptos, indices, and commodities. Despite a decent selection of assets, the firm still lacks stocks and other asset classes, and the list of tradable instruments is also narrow. All these assets are offered on the firm’s custom web trading platform, which is very limited in functionality and is considerably slower than advanced platforms. Overall, Summit Strike Capital gets a 2.5 score in this section for offering a decent range of asset classes but still lacking many others.
Summit Strike Capital Trading rules and limitations — 1.4
Summit Strike Capital rules are mediocre, with the maximum drawdown varying between 8 and 12%, and the daily risk limit being 4%. This 4% is strict and won’t allow traders to implement risky strategies. The profit target for the standard funded challenge is 10% in the 1st phase, then 5% in the 2nd stage, and when the trader becomes funded they are free to achieve any percentage of profitability. Both accounts allow traders to trade during major economic news releases and hold open trading positions over the weekends. The firm gets a 1.4 score in this section for strict rules.
Summit Strike Capital Fees — 2.5
The fees at Summit Strike Capital start from 89 USD for 10k accounts, which is relatively expensive when compared to other firms offering lower fees. Let’s list both the standard and instant account fees to compare better.
The standard funded account has the following fees:
- Funded amount: 10,000 USD — one-time fee: 89 USD
- 25,000 USD – 179 USD
- 50,000 USD – 319 USD
- 100,000 USD – 519 USD
- 200,000 USD – 999 USD
The instant funded account from Summit Strike Capital has the following fees:
- Funded amount: 10,000 USD – one-time fee: 300 USD
- 25,000 USD – 580 USD
- 50,000 USD – 1,000 USD
- 100,000 USD – 1750 USD
As we can see, the instant account has higher fees, which is understandable as the account allows traders to start trading on a demo account for profits right away without the evaluation phase.
Summit Strike Capital offers discounts on its accounts for summer, allowing traders to reduce their costs further.
Summit Strike Capital free trial is not available at the moment. Traders have to purchase the account to test trading conditions, which is inconvenient.
Summit Strike Capital free repeat is not offered either, and traders have to buy funded accounts to start over when they fail in their challenge.
Overall, Summit Strike Capital gets a 2.5 score for offering discounts and mediocre fees.
Summit Strike Capital Platforms — 0.9
Summit Strike Capital falls short in offering advanced trading platforms, as the firm only offers its custom web trader as the main trading platform. This platform lacks many features and is laggy when compared to advanced platforms like MT4 or MT5. There is no possibility for custom indicators or Expert Advisors (EAs). Its functionality is much inferior when compared to the abovementioned platforms, which makes it difficult for traders to analyze markets with technical tools and make accurate decisions in their prop trading. For offering only a web trader, the firm gets a 0.9 score in this section.
Summit Strike Capital Profit-Sharing — 3
Summit Strike Capital profit split is capped at 90% which is a decent number. The firm has a be-weekly payout policy, meaning traders can withdraw 8 times per month, which is a decent number. Withdrawals take somewhere 1 to 3 business days, which is slightly worse than industry standards. The structure of profit-sharing is different for standard and instant accounts. The 1st withdrawal at the standard account has 75% profit sharing, 2nd one has 80%, 3rd one has 85%, and all subsequent withdrawals come with 90% profit-sharing.
The instant account starts with 50% profit sharing on the 1st withdrawal, the 2nd payout has 55%, the 3rd payout has 60%, and all subsequent withdrawals have 70% profit-sharing.
Education and trading tools at Summit Strike Capital — 0
Summit Strike Capital does not offer any educational resources, meaning beginners have to learn to trade elsewhere. There are no trading courses, video content, or webinars available. The firm also does not offer a trading blog either, which is also a huge downside. Overall, for not offering any educational resources, Summit Strike Capital gets a 0 score in this section.
Customer Support at Summit Strike Capital — 2.4
Summit Strike Capital only provides live chat and email channels for customer support. There is no hotline option offered, which is usually a red flag. The website as well as the support are only available in the English language, which is another serious downside for the firm. In the end, Summit Strike Capital receives a 2.4 score in this section for offering a mediocre customer support experience.
Frequently Asked Questions on Summit Strike Capital
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