REVIEW
Smart Prop Trader
“Unlocking Success: Smart Prop Trader Review & Insights”
“Unlock Your Trading Potential: Smart Prop Trader’s Two-Step Evaluation for Disciplined and Talented Traders, Offering Access to Live-Funded Accounts and Profit Splits with Special Rules for Success.”
Smart Prop Trader requires traders to successfully complete a two-step evaluation program prior to gaining access to live-funded accounts and the opportunity to earn profit splits. The firm’s exclusive focus on disciplined and talented traders underscores the importance of strict adherence to a specialized set of rules.
In its commitment to nurturing successful careers, Smart Prop Trader offers traders optimal deals and guidance through a seasoned professional team with over a decade of experience in the trading industry. Over this period, the team has curated exemplary practices and deals, now disseminated globally for traders’ participation. Participants stand to benefit from unparalleled trading conditions and the potential to earn profit splits of up to 90%.
Who are them?
Established in July 2022, Smart Prop Trader is a proprietary trading firm that provides opportunities for undercapitalized traders. The firm allows traders to operate with a $400,000 capital and offers a profit split of up to 90%, enabling them to scale their account balances. In partnership with Eightcap, Smart Prop Trader serves as a broker, granting access to favorable trading conditions. The firm’s headquarters are located in Austin, Texas 78701, United States.
Blake Olson, the CEO of Smart Prop Trader, is a seasoned finance professional and forex educator. Committed to understanding the complex challenges faced by traders, Blake, like many others, sought guidance from industry leaders and honed his skills through practical experience. Over time, he developed a profound understanding of trading strategies, drawing insights from hedge fund managers and self-study. Transitioning into a career as a trading educator, Blake shares his knowledge through various platforms, including his YouTube channel.
Continuously exploring profitable strategies and teaching methodologies such as Elliott Wave, Wyckoff, Smart Money Concepts, and more, Blake, despite his success in personal trading, entered the world of prop firms. After achieving a remarkable 30% return in his initial month as a funded trader at FTMO, Blake expanded his funded account portfolio, managing millions of dollars across multiple prop firms. Motivated by his affinity for the prop firm model and a desire to advance the industry, Blake collaborated with fellow traders to establish his own funding company, leading to the creation of The Funded Trader.
Remaining actively engaged in enhancing the prop firm industry, Blake conducts interviews with prop firm founders, produces review and prop firm ranking videos, and fosters competition within the industry for the benefit of traders globally.
Funding Option
Smart Prop Trader offers its traders five two-step evaluation program account sizes to choose from.
Two-step evaluations program account
The Smart Prop Trader evaluation program account is crafted to identify and reward proficient and disciplined traders exhibiting consistent performance throughout a two-phase evaluation period. This account enables trading with leverage of up to 1:100.
Account Size | Price $10,000 | $67 $25,000 | $167 $50,000 | $267 $100,000 | $467 $200,000 | $867
In the initial evaluation phase, traders must attain a 7% profit target while adhering to a maximum daily loss of 4% and a maximum loss of 8%. Progression to phase two does not necessitate a specified minimum trading day requirement. Phase two also mandates a 5% profit target with identical risk management parameters and no minimum trading day obligation to qualify for advancement to a live-funded account.
Completion of both evaluation phases results in a funded account devoid of profit targets, but with a minimum withdrawal limit of $100. Traders must adhere to a 4% maximum daily loss and an 8% maximum loss. The initial payout occurs 12 calendar days after initiating the first position on the funded account, followed by bi-weekly payouts. Profit splits range from 85% to 90% based on the earned profit, and traders can modify their profit split day up to three times for convenience.
The evaluation program accounts incorporate a scaling plan. Sustaining profitability over each 3-month period entitles traders to a 25% increase in the original account balance. Moreover, the maximum loss limit increases by 2% every 3-month period after scaling the account balance, up to 28%.
Example:
After 3 months: $200,000 account increases to $250,000. After the next 3 months: $250,000 increases to $300,000. After the subsequent 3 months: $300,000 increases to $350,000. And so forth. Trading instruments for evaluation program accounts encompass forex pairs, commodities, indices, and cryptocurrencies.
The evaluation program account rules encompass profit targets of 7% for phase one and 5% for phase two, with funded accounts having no profit targets. The maximum daily loss is capped at 4%, and the maximum loss is 8%, scalable up to 28%. Martingale strategies are prohibited. Traders employing third-party copy trading or EAs risk denial of a funded account or withdrawal if they exceed the maximum capital allocation rule due to the potential replication of trading strategies by other users.
What's makes it different from other prop firm?
Smart Prop Trader differentiates itself from numerous industry-leading proprietary firms by maintaining a flexible approach to regulating trading styles, allowing for relaxed trading rules. This encompasses the ability to trade during news, hold positions overnight, and trade on weekends, with the exception of prohibiting martingale strategies.
In contrast to other proprietary firms, the Smart Prop Trader evaluation program follows a two-phase structure, necessitating traders to successfully navigate both phases to become eligible for payouts. Phase one has a profit target of 7%, while phase two sets a target of 5%, accompanied by daily maximum and loss rules of 4% and 8%, respectively. Notably, there are no specified maximum or minimum trading day requirements during each evaluation phase as traders work towards securing funding. The evaluation programs also incorporate a scaling plan.
Compared to other industry-leading proprietary firms, Smart Prop Trader stands out with its comparatively low profit targets, absence of maximum or minimum trading day requirements, and adherence to relaxed trading rules.
In summary, Smart Prop Trader’s distinctiveness among industry leaders lies in its relaxed trading rules and infrequent imposition of restrictions on trading styles. Traders benefit from the flexibility to engage in news trading, hold positions overnight, and trade on weekends, complemented by low profit targets and the absence of maximum or minimum trading day requirements across both evaluation phases.
Is getting capital real?
When evaluating proprietary trading firms aligned with your forex trading style, it is imperative to assess the feasibility of the trading requirements. While a company offering a substantial percentage profit split on a well-funded account may appear attractive, success hinges on the achievability of high monthly percentage gains paired with low maximum drawdown percentages.
Capital acquired through the evaluation program at Smart Prop Trader proves realistic, primarily due to comparatively modest profit targets (7% in phase one and 5% in phase two) and slightly below-average maximum loss regulations (4% maximum daily and 8% maximum loss). Considering these factors, Smart Prop Trader stands out as an excellent funding choice, offering evaluation program accounts with pragmatic trading objectives and conditions for payout eligibility.
Payment Verification
Established in July 2022, Smart Prop Trader is a proprietary trading firm with a documented track record of successful payouts. Verifiable evidence is available on Trustpilot through community reviews, showcasing payment proof.
Additionally, you can corroborate payment evidence on their Discord channel, where numerous traders have shared payout certificates.
Payouts from Smart Prop Trader are processed 12 days after the initiation of your first trade on your Funded Trader account, entitling you to an 85% profit split. These payouts occur on the same day, affording flexibility for traders who opt to continue trading and defer profit withdrawal for up to 14 days. In the absence of profits during withdrawal, your trading period is automatically extended. Notably, you have the option to select your profit split day up to three times, ensuring withdrawals align with your preferred schedule.
which broker they use?
Smart Prop Trader has seamlessly integrated its technology with Eightcap, an ASIC-regulated broker based in Melbourne, Australia, established in 2009 with a clear mission of delivering exceptional financial services. With a global presence spanning five offices and regulatory oversight in multiple jurisdictions, Eightcap empowers clients worldwide to engage in trading across FX, indices, commodities, and shares.
With an overall Trust Score of 73 out of 99, Eightcap is categorized as average-risk and offers a comprehensive set of features, including Forex Trading, CFD Trading, Cryptocurrency Trading, Social Trading/Copy-Trading, a total of 326 Tradeable Symbols, and 45 Forex Pairs. Two distinct account types, Raw and Standard, are available, each with its corresponding commission and fee structure. Notably, Standard account fees are embedded in spreads, while Raw accounts entail commission-based charges. Traders should also factor in overnight fees, representing the interest incurred for holding positions overnight.
As a MetaTrader exclusive broker, Eightcap provides access to both MetaTrader 4 and the more recent MetaTrader 5 platforms developed by MetaQuotes Software Corporation. Recognized as the Best Global Forex MT4 Broker in 2020 at the Global Forex Awards, Eightcap is dedicated to offering a personalized trading experience and has established a highly efficient technological infrastructure.
Clients can opt for either MetaTrader 4 or MetaTrader 5 as their preferred trading platform. In terms of trading instruments, Smart Prop Trader facilitates a diverse range, allowing users to trade forex pairs, commodities, indices, and cryptocurrencies with leverage of up to 1:100.
Education and support fro traders
Smart Prop Trader does not provide supplementary educational programs. Nevertheless, the company features a Blog section on its website containing articles covering Trading Tips, Trading Updates, and Success Stories. Additionally, Smart Prop Trader maintains an active thread on ForexFactory, providing traders with further insights from a diverse community. Moreover, the ‘PROP FIRM HUB’ thread on ForexFactory, created by MasterrMind, extensively references Smart Prop Trader.
Smart Prop Trader offers a comprehensive FAQ page for potential information retrieval. In the event that the required information is not found, we recommend reaching out to our dedicated support team or engaging with our Discord channel. Our support team is accessible through various channels, including social media, live chat, and email. For general inquiries about our proprietary trading firm, please contact info@smartproptrader.com, and for additional assistance in case of issues, use support@smartproptrader.com. Our support services are available 24/7 via email and from 8 AM to 5 PM EST, Monday to Friday, through live chat.
Trader's comment about it
Smart Prop Trader has garnered commendable acclaim within its community. On Trustpilot, a diverse array of community members has provided positive feedback, resulting in an impressive score of 4.7/5 from 2,175 reviews. The reviews consistently highlight the prompt and dependable customer support, as echoed in the following comment.
Furthermore, a frequently cited positive aspect of this proprietary trading firm pertains to their highly competitive spreads, particularly noteworthy when compared to other leading firms in the industry. Additionally, the pricing structure is lauded, with the provision of account sizes up to $200k at reasonable rates, devoid of any hidden or extra fees.
Social media stats
Smart Prop Trader can also be found on social media.
They have a:
- Facebook page with 229 followers,
- TikTok profile with 641 followers,
- LinkedIn page with 310 followers,
- Youtube channel with 2,65k subscribers with 147 uploaded videos, and
- Instagram profile with 8,762 followers,
They also have a Discord channel with 19.150 members with various chats where you can discuss different topics regarding Smart Prop Trader.
Conclusion
In summary, Smart Prop Trader stands as a reputable proprietary trading entity, presenting traders with a selection of five distinct two-step evaluation program account sizes. These evaluation programs adhere to industry standards, featuring a two-phase evaluation challenge that necessitates successful completion before attaining funding eligibility and the opportunity to earn profit splits.
Smart Prop Trader mandates traders to achieve profit targets of 7% in the initial phase and 5% in the subsequent phase to qualify for funding. These objectives are deemed realistic, given the imposition of a 4% maximum daily loss and 8% maximum loss rules. Evaluation programs afford traders the chance to secure profit splits ranging from 85% to 90%, facilitating account scalability.
I would recommend Smart Prop Trader to individuals seeking a proprietary trading firm with transparent trading regulations. As a well-established entity, Smart Prop Trader provides favorable conditions for a diverse range of individuals with distinctive trading styles. After a comprehensive evaluation of Smart Prop Trader’s offerings, it undeniably emerges as one of the more appealing choices in the proprietary trading firm landscape.