Dive into an in-depth review of Smart Prop Trader, a standout in the proprietary trading firm arena. Discover its unique evaluation programs, trader-friendly rules, and potential for high profit splits. We’ll explore why Smart Prop Trader is a preferred choice for traders worldwide, offering insights into its trading instruments, support system, and community feedback.
Dive into an in-depth review of Smart Prop Trader, a standout in the proprietary trading firm arena. Discover its unique evaluation programs, trader-friendly rules, and potential for high profit splits. We’ll explore why Smart Prop Trader is a preferred choice for traders worldwide, offering insights into its trading instruments, support system, and community feedback.
- Experienced Professional Team.
- Optimal Trading Conditions.
- High Profit Splits up to 90%.
- Global Trading Opportunities.
- Well-Developed Trading Practices.
Smart Prop Trader: A Gateway to Successful Trading Careers
Smart Prop Trader stands at the forefront of empowering traders’ careers, backed by a decade of industry experience. This London-based company’s seasoned team brings to the table a wealth of knowledge, honed over ten years in the trading arena. Their commitment goes beyond just guiding traders; they actively share the finest practices and deals, extending a global invitation to traders eager to capitalize on these opportunities. At Smart Prop Trader, the focus is on furnishing traders with optimal trading conditions, a key ingredient in the recipe for trading success. What sets them apart is their generous offer of up to 90% profit splits, a clear indicator of their dedication to the prosperity and growth of their clients. This profit split model is designed to benefit traders at every level, reflecting the company’s commitment to creating win-win scenarios in the world of trading. 
Discovering Smart Prop Trader: A New Era in Proprietary Trading
Smart Prop Trader, an innovative proprietary trading firm, emerged on the scene in July 2022, offering a unique opportunity for undercapitalized traders. This London-based company is revolutionizing the way traders access the market by providing them with an impressive capital of up to $400,000. This funding is accompanied by an attractive profit split, reaching up to 90%, showcasing Smart Prop Trader’s commitment to the financial success of its clients. Smart Prop Trader takes pride in its collaboration with Eightcap as their chosen broker, a partnership that guarantees traders access to exceptional trading conditions. This collaboration enhances the trading experience, providing traders with a robust platform to maximize their market potential. Additionally, the company’s strategic location in Austin, Texas, United States, anchors its presence in the heart of one of America’s most dynamic cities, further bolstering its appeal to traders globally.
Blake Olson: The Visionary CEO Behind Smart Prop Trader
At the helm of Smart Prop Trader is Blake Olson, a CEO renowned for his extensive experience in finance and forex education. Blake’s journey in the trading world is marked by a relentless pursuit of understanding the intricacies and challenges faced by traders. His initial steps in the industry involved seeking insights from established market experts, coupled with rigorous self-practice, shaping him into a proficient trader.
Blake’s expertise extends across a spectrum of trading strategies, gleaned from his interactions with hedge fund managers and dedicated self-study. His breakthrough came with the development of a consistently profitable trading strategy. This expertise led him to become a revered trading educator for numerous firms, simultaneously sharing valuable trading insights on his YouTube channel. His journey in trading is also marked by continuous exploration of profitable strategies and imparting this knowledge to thousands of traders. Blake has successfully mastered and taught various methodologies, including Elliott Wave, Wyckoff, and Smart Money Concepts. Although proficient in personal trading, Blake’s exploration led him to the prop firm sphere. His initial triumph with a 30% return as a funded trader at FTMO catalyzed his expansion into managing multi-million dollar portfolios across several prop firms. Blake’s passion for the prop firm model and his vision to innovate the industry culminated in the founding of his funding company. This venture evolved into The Funded Trader, now a prominent name among online prop firms globally. Blake continues to be a pivotal figure in the prop firm industry, engaging in interviews with other prop firm founders, creating review and ranking content, and advocating for competitive growth in the industry, all to the advantage of traders worldwide.
Funding Program Options at Smart Prop Trader
At Smart Prop Trader, traders are presented with a selection of five two-step evaluation program account sizes, each tailored to meet various trading needs and strategies.
Evaluation Program Accounts at Smart Prop Trader
The Smart Prop Trader’s evaluation program is designed to discover and reward skilled and disciplined traders. This two-phase evaluation program offers trading with up to 1:100 leverage. Below are the account sizes and prices:
- $10,000 account for $67
- $25,000 account for $167
- $50,000 account for $267
- $100,000 account for $467
- $200,000 account for $867
In phase one of the evaluation, traders must achieve a 7% profit target without exceeding a 4% maximum daily loss or an 8% overall loss. There is no set time limit or minimum trading days required to advance to phase two. Phase two continues with a 5% profit target and the same loss limitations as phase one. Again, traders can take as long as needed without a minimum trading day requirement to progress to a live-funded account. Upon successfully completing both phases, traders are granted a funded account with no profit targets but a minimum withdrawal limit of $100. The key requirements are to maintain the 4% maximum daily loss and 8% maximum loss rules. The first payout occurs 12 calendar days after the first trade in the funded account, with subsequent bi-weekly payouts. Profit splits range from 85% to 90%, depending on the account’s performance. Traders also have the flexibility to change their profit split day up to three times to suit their convenience.
Smart Prop Trader’s Scaling Plan for Evaluation Program Accounts
The Smart Prop Trader offers a unique scaling plan for evaluation program accounts. Consistently profitable traders over each 3-month period are rewarded with a 25% increase in their original account balance. Additionally, the maximum loss limit is raised by 2% for every scaling step, up to a 28% increase. For example:
- After 3 months, a $200,000 account is increased to $250,000.
- After the next 3 months, the account balance of $250,000 grows to $300,000.
- Following another 3 months, the balance of $300,000 rises to $350,000.
- This pattern continues with each successful 3-month period.
Traders in the evaluation program can trade a variety of instruments including forex pairs, commodities, indices, and cryptocurrencies.
Rules for Smart Prop Trader’s Evaluation Program Accounts
The Smart Prop Trader evaluation program accounts come with specific rules designed to test and identify talented traders. Here are the key rules:
- Profit Target: Phase 1 requires a 7% profit target, and phase 2 has a 5% target. Funded accounts are not bound by profit targets.
- Maximum Daily Loss: The maximum daily loss limit for all account sizes is set at 4%.
- Maximum Loss: The overall maximum loss a trader can incur is 8%, with the potential to scale up to 28% over time.
- No Martingale Strategy: Martingale strategies are not permitted in the trading approach.
- Third-Party Copy Trading Risk: Traders using third-party copy trading services must be aware of the risks, including the potential of exceeding the maximum capital allocation rule, which could lead to denial of a funded account or withdrawal.
- Third-Party EA Risk: Similar to copy trading, using third-party Expert Advisors (EAs) comes with the risk of using the same strategy as other traders, possibly affecting the funded account or withdrawal if the maximum capital allocation rule is exceeded.
These rules are essential to maintain the integrity and efficacy of the Smart Prop Trader’s evaluation program, ensuring fair and disciplined trading practices.
What Sets Smart Prop Trader Apart from Other Prop Firms?
Smart Prop Trader distinguishes itself in the proprietary trading firm landscape primarily through its flexible approach to trading styles. This London-based company stands out by offering relaxed trading rules, allowing traders the freedom to trade during news events, hold trades overnight, and over weekends. It’s important to note, however, that the use of martingale strategies is prohibited. Another unique aspect of Smart Prop Trader is its two-phase evaluation program. Traders must successfully navigate through both phases, with a 7% profit target in phase one and a 5% target in phase two, adhering to a 4% maximum daily and 8% overall loss limits. Unlike many industry leaders, Smart Prop Trader does not impose maximum or minimum trading day requirements in each evaluation phase. This approach not only eases the path to becoming funded but also aligns with the firm’s ethos of providing flexibility to its traders. Additionally, Smart Prop Trader’s evaluation programs include a scaling plan, a feature that is not commonly found in other prop firms. With relatively low profit targets and the absence of strict trading day requirements, Smart Prop Trader offers an environment conducive to various trading strategies, making it an appealing choice for traders seeking a less restrictive trading environment.
Comparison: Smart Prop Trader vs. Finotive Funding
| Trading Objectives | Smart Prop Trader | Finotive Funding |
|---|---|---|
| Phase 1 Profit Target | 7% | 7.5% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 4% | 5% |
| Maximum Loss | 8% | 10% |
| Minimum Trading Days | No Minimum Trading Days | No Minimum Trading Days |
| Maximum Trading Period | Unlimited for both phases | Unlimited for both phases |
| Profit Split | 85% up to 90% | 75% up to 95% |
This table provides a clear comparison between Smart Prop Trader and Finotive Funding, highlighting differences in profit targets, loss limits, trading days, and profit splits. It serves as a valuable reference for traders evaluating which prop firm aligns best with their trading strategies and objectives.
Comparison: Smart Prop Trader vs. FundedNext (Stellar)
| Trading Objectives | Smart Prop Trader | FundedNext (Stellar) |
|---|---|---|
| Phase 1 Profit Target | 7% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 4% | 5% |
| Maximum Loss | 8% | 10% |
| Minimum Trading Days | No Minimum Trading Days | 5 Calendar Days |
| Maximum Trading Period | Unlimited for both phases | Unlimited for both phases |
| Profit Split | 85% up to 90% | 80% up to 90% |
This comparison table between Smart Prop Trader and FundedNext (Stellar) delineates the key differences and similarities in their trading objectives, including profit targets, loss limits, minimum trading days, trading period duration, and profit split percentages. This information is critical for traders looking to make an informed decision between these two prop firms.
Comparison: Smart Prop Trader vs. E8 Funding (Normal)
| Trading Objectives | Smart Prop Trader | E8 Funding (Normal) |
|---|---|---|
| Phase 1 Profit Target | 7% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 4% | 5% |
| Maximum Loss | 8% | 8% (Scalable up to 14%) |
| Minimum Trading Days | No Minimum Trading Days | No Minimum Trading Days |
| Maximum Trading Period | Unlimited for both phases | Unlimited for both phases |
| Profit Split | 85% up to 90% | 80% |
In conclusion, Smart Prop Trader sets itself apart from other leading prop firms like E8 Funding by offering more relaxed trading rules. Traders at Smart Prop Trader are afforded the flexibility to trade during news events, hold trades overnight, and over weekends. Moreover, it offers low profit targets and no restrictions on maximum or minimum trading days during both evaluation phases, catering to a wide range of trading styles and strategies.
Is Getting Funded by Smart Prop Trader Realistic?
When evaluating prop firms for forex trading, it’s crucial to assess the realism of their trading requirements. While attractive offers like high profit splits on well-funded accounts may seem appealing, they often come with challenging conditions like high percentage gains per month coupled with low tolerance for drawdowns, making success challenging. Smart Prop Trader, however, presents a more achievable path to receiving capital. Their evaluation program accounts are realistically structured with relatively low profit targets—7% in phase one and 5% in phase two—and manageable maximum loss rules (4% daily and 8% overall loss limits). Taking into account these factors, Smart Prop Trader emerges as an excellent option for traders seeking to get funded. The trading objectives and conditions set by their evaluation program accounts are practical and attainable, making it a feasible choice for traders to achieve their funding goals.
Payment Proof for Smart Prop Trader
Smart Prop Trader, a proprietary trading firm established in July 2022, has already amassed substantial evidence of successful payouts to its traders. This can be verified through various sources, including Trustpilot reviews from their community, which attest to the firm’s reliability in processing payments.
Further proof of payments can be found on Smart Prop Trader’s Discord channel, where numerous payout certificates from traders are showcased, providing additional transparency and trustworthiness. The payout process at Smart Prop Trader is prompt and trader-friendly. Payments are processed just 12 days after the first trade on a Funded Trader account, with traders enjoying a generous 85% profit split. Moreover, payouts are processed on the same day. If traders choose not to withdraw their profits within the 14-day period, they have the option to continue trading until their next profit split. Additionally, traders have the flexibility to select their profit split day up to three times, ensuring they receive their withdrawals at their convenience. If no profits are made at the time of withdrawal, the trading period is automatically extended, offering a flexible and accommodating payout structure.
Broker Partnership of Smart Prop Trader
Smart Prop Trader collaborates with Eightcap, an ASIC-regulated broker based in Melbourne, Australia. Founded in 2009, Eightcap’s mission is to deliver outstanding financial services globally. They have a global presence with five offices and multiple regulations, offering clients the opportunity to trade across various markets including FX, indices, commodities, and shares. Eightcap is rated as an average-risk broker with an overall Trust Score of 73 out of 99. Their trading features include:
- Forex Trading
- CFD Trading
- Cryptocurrency Trading
- Social Trading/Copy-Trading
- A total of 326 Tradeable Symbols
- A total of 45 Forex Pairs
Eightcap offers two account types: Raw and Standard, with fees structured differently for each. Standard accounts incorporate fees into the spread, while Raw accounts charge commissions. Additionally, traders should consider the overnight fee, which is the interest charged for holding a position overnight. As a MetaTrader-exclusive broker, Eightcap provides the MetaTrader 4 and MetaTrader 5 platforms, developed by MetaQuotes Software Corporation. They have been recognized for their excellence with the award for Best Global Forex MT4 Broker 2020 at the Global Forex Awards. Traders at Smart Prop Trader can utilize either MetaTrader 4 or MetaTrader 5 for their trading activities.
Trading Instruments Available at Smart Prop Trader
Smart Prop Trader offers its clients a vast array of trading instruments, accommodating a wide range of trading preferences. Traders have the flexibility to engage in forex pairs, commodities, indices, and cryptocurrencies, all with the advantage of up to 1:100 leverage. Below is a detailed list of the trading instruments available:
FOREX:
- AUD/USD, EUR/USD, GBP/USD, NZD/USD, USD/CAD
- USD/CHF, USD/JPY, AUD/CAD, AUD/CHF, AUD/NZD, AUD/JPY
- CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF
- EUR/GBP, EUR/JPY, EUR/NZD, GBP/AUD, GBP/CAD, GBP/CHF
- GBP/JPY, GBP/NZD, NZD/CAD, NZD/CHF, NZD/JPY, EUR/NOK
- EUR/PLN, EUR/SEK, USD/HKD, USD/MXN, USD/NOK, USD/PLN
COMMODITIES:
- XAG/USD, XAU/USD, XPT/USD, XPD/USD, BRENT
- NGAS, WTI
INDICES:
- AUS200, ITA40, CHNIND, EU50, FRA40
- GER30, HKIND, JAP225, SPA35, US100, US30
- US500
CRYPTOCURRENCIES:
- ADA/USD, AVE/USD, BCH/BTC, BCH/USD, BNB/USD
- BSV/USD, BTC/EUR, BTC/USD, DOG/USD, DOT/USD, DSH/USD
- EOS/USD, ETH/BTC, ETH/USD, LNK/USD, LTC/BTC, LTC/USD
- THT/USD, UNI/USD, VET/USD, XEM/USD, XLM/USD, XMR/USD
- XRP/EUR, XRP/USD, XTZ/USD
This comprehensive selection of trading instruments ensures that traders at Smart Prop Trader can find ample opportunities across various markets and asset classes, matching their individual trading strategies and preferences.
Trading Fees at Smart Prop Trader
Smart Prop Trader has a clear and straightforward fee structure for its trading activities, encompassing various asset classes. Here is a breakdown of the trading commission and spread information:
Trading Commission:
| Assets | Fee Terms |
|---|---|
| FOREX | 7 USD / LOT |
| COMMODITIES | 7 USD / LOT |
| INDICES | 7 USD / LOT |
| CRYPTO | 7 USD / LOT |
Spread:
To access live spread information, traders can log in to the trading account with the following details:
| Platform | Server | Login Number | Password | Download Platform |
|---|---|---|---|---|
| MetaTrader 5 | EightcapLtd-Demo2 | 20073579 | FTPNewPW2023! | Download |
This information enables traders to understand the cost structure associated with trading on the Smart Prop Trader platform, facilitating informed decision-making regarding their trading strategies.
Education & Support at Smart Prop Trader
While Smart Prop Trader does not offer a structured educational program, they provide valuable resources for traders seeking knowledge and insights. Here’s what they offer:
- Blog Section: On their website, there’s a dedicated blog section where traders can find a variety of articles, including Trading Tips, Trading Updates, and Success Stories. This resource is beneficial for traders looking to gain insights and learn from the experiences of others.
- ForexFactory Thread: Smart Prop Trader maintains an active thread on ForexFactory. This platform allows traders to gather additional information about the prop firm and engage with a broader community of traders.
- ‘PROP FIRM HUB’ on ForexFactory: Additionally, Smart Prop Trader is frequently mentioned in the ‘PROP FIRM HUB’ thread created by MasterrMind on ForexFactory. This thread provides further insights and discussions about Smart Prop Trader and other prop firms.
To view the mentioned thread on ForexFactory, traders can click here. These resources, while not formal educational programs, offer a wealth of knowledge and community support, aiding traders in their journey with Smart Prop Trader.
Traders’ Feedback on Smart Prop Trader
Smart Prop Trader enjoys a strong reputation within its trading community, as evidenced by the feedback on various platforms:
- Trustpilot Reviews: With an impressive score of 4.7 out of 5 from 2,320 reviews on Trustpilot, Smart Prop Trader has garnered positive feedback from a large section of its community. The reviews frequently highlight the firm’s efficient and reliable customer support, a vital aspect appreciated by traders.
- Competitive Spreads: Many reviews commend Smart Prop Trader for offering competitive spreads, especially when compared to other leading proprietary trading firms in the industry. This aspect is often highlighted as a key advantage of trading with them.
- Reasonable Pricing: The pricing structure of Smart Prop Trader also receives positive remarks. The firm is noted for offering account sizes up to $200,000 at reasonable prices, without any hidden or additional fees. This transparent pricing model is highly valued by the trading community.
Overall, the feedback from traders indicates that Smart Prop Trader is well-regarded for its customer support, competitive spreads, and clear pricing structure, making it a preferred choice among proprietary trading firms.
Social Media Presence of Smart Prop Trader
Smart Prop Trader has established a notable presence across various social media platforms, engaging with a diverse audience and fostering a community of traders. Here are their current statistics on social media:
- Facebook: The firm has a Facebook page with 229 followers, providing updates and engaging with its community.
- TikTok: On TikTok, Smart Prop Trader has garnered 641 followers, showcasing their reach in the younger demographic.
- LinkedIn: Their professional network on LinkedIn includes 310 followers, reflecting their presence in the business and professional community.
- YouTube: The YouTube channel of Smart Prop Trader boasts 2,650 subscribers and has a library of 147 uploaded videos, offering a range of content from trading tips to company updates.
- Instagram: With 8,762 followers on Instagram, they effectively use this platform for visual and interactive content.
- Discord Channel: Their Discord channel, with a strong community of 19,150 members, serves as a dynamic platform for discussions on various topics related to Smart Prop Trader.
These statistics indicate Smart Prop Trader’s commitment to maintaining a robust online presence, engaging with their audience across different social media channels, and providing a platform for community interaction and support.
Support Services at Smart Prop Trader
Smart Prop Trader provides a comprehensive support system to assist traders with their queries and concerns. Here’s an overview of the support options available:
- FAQ Page: Their website features a detailed FAQ page, which can be the first point of reference for information and common queries.
- Support Team: For more personalized assistance, traders can reach out to their support team. The team is accessible via various channels:
- Social media platforms.
- Live chat on their website.
- Email for direct communication. They have two dedicated email addresses:
- info@smartproptrader.com for general inquiries.
- support@smartproptrader.com for additional support and issue resolution.
- Discord Channel: Joining their Discord channel is another way to get support and engage with the community for advice and discussions.
- Business Hours: Smart Prop Trader’s support availability is as follows:
- Email support is available 24/7.
- Live chat support operates from 8 AM to 5 PM EST, Monday through Friday.
These support options ensure that traders at Smart Prop Trader have access to timely and effective assistance, enhancing their trading experience with the firm.
Conclusion: Smart Prop Trader Review
Smart Prop Trader stands out as a legitimate and credible proprietary trading firm in the industry. It offers traders the flexibility to choose from five distinct two-step evaluation program account sizes, catering to a variety of trading needs and preferences. The firm’s evaluation program follows an industry-standard two-phase challenge, requiring traders to successfully complete both phases to access funding and profit splits. The profit targets set at 7% for phase one and 5% for phase two are aligned with realistic trading objectives, considering the 4% maximum daily and 8% overall loss limits. Additionally, successful traders can benefit from an appealing profit split of 85% to 90%, with opportunities to scale their accounts. Smart Prop Trader is highly recommended for traders seeking a prop firm with straightforward and trader-friendly rules. Their well-established status in the industry, coupled with excellent conditions for a diverse range of trading styles, makes them an attractive choice. Overall, Smart Prop Trader is undoubtedly one of the more appealing options in the proprietary trading firm sector.
