Smart Prop Trader: Review and Analysis [2024]

Every Smart Prop Trader broker review should include a listing of the advantages and disadvantages of Smart Prop Trader prop firms. So let’s not deviate from this pleasant tradition and consider the main ones:

Smart Prop Trader is committed to guaranteeing the success of traders’ careers by supplying them with the best possible bargains and giving them comprehensive assistance. They have decided to extend the invitation to traders all over the world so that they may benefit from their expertise and possibilities. This decision was made after they built better methods and gained profitable bargains. Traders have the potential to generate big gains, and they have the flexibility to handle account sizes up to $100,000. Additionally, they may obtain profit shares of up to 90 percent. Trading a variety of financial assets, such as foreign exchange pairings, commodities, indices, and cryptocurrencies, is one way to achieve this goal.

A proprietary trading company known as Smart Prop Trader LLC, which was established in July 2022, is a trading company that operates under the moniker Smart Prop Trader. Their headquarters are in Texas, in the United States of America, and CEO Blake Olson is in charge of their management. In addition to being affiliated with ThinkMarkets as their broker, Smart Prop Trader gives traders the chance to select from two different assessments that are conducted in two steps.

A location in Austin, Texas, 78701 in the United States of America, is where the headquarters of Smart Prop Trader may be found.

Smart Prop Trader Key Features

Smart Prop Trader, a cutting-edge proprietary trading firm, distinguishes itself by its lightning-fast execution of many critical sector operations. This involves swift account opening, payout processing, account upgrade processing, and funded account processing. These benefits, taken together, have propelled it to the ranks of the field’s most rapid operators.

The dedication to trader-friendly methods is one of the most notable qualities of Smart Prop Trader. With some of the most lenient Phase 1 requirements and no minimum trading day constraints, it proudly displays its independence. Because of this, it is a good option for traders who want a reliable two-phase prop business that can get them money quickly. In addition, the company has some of the most affordable solutions in the market because of its meager rates. It opens the door to expert advisers (EAs) and does away with restrictions on lot sizes.

One way Smart Prop Trader stands apart from the other top prop businesses is by allowing trading techniques to be less closely managed. Because of the company’s flexible trading processes, traders are able to place trades on weekends, hold positions overnight, and operate throughout news releases. However, martingale trading tactics are not allowed, so bear that in mind.

Payouts will only be granted to traders who complete both stages of the firm’s appraisal process. The initial profit objective is 7%; in phase two, it is reduced to 5%. The 4% daily loss cap and the 8% total loss cap are put in place to promote careful trading. Notably, while looking for funding, there are no restrictions on the number of trading days that may be evaluated. A scaling approach is another part of the evaluation program that helps traders succeed.

In conclusion, Smart Prop Trader differentiates itself from rivals by embracing a more relaxed stance on trading policy and a more adaptable strategy for enforcing trading methods. The ability to trade on news events, maintain positions overnight, and trade on weekends is a valuable skill for traders. Smart Prop Trader provides a one-of-a-kind, trader-centric experience throughout the evaluation process, with reasonable profit goals and no restrictions on the number of trading days per week.

Who is the CEO of Smart Prop Trader?

A seasoned financial expert and forex instructor, Blake Olson also happens to be the chief executive officer of Smart Prop Trader. He is dedicated to understanding the intricate difficulties people face when they start trading. Blake, like many prospective traders, sought advice from established traders and honed his craft via trial and error. He studied extensively on his own and learned from hedge fund managers throughout the years, developing an in-depth knowledge of trading tactics. Over time, he stumbled across a method that reliably yielded profits. In addition to posting trading-related videos on his YouTube channel, Blake launched a profession teaching trading to clients of different companies.

Blake taught hundreds of traders Elliott Wave, Wyckoff, Smart Money Concepts, and other winning procedures while relentlessly seeking even more profitable tactics himself. Blake chose to test his luck with prop businesses even though he was adept at trading on his personal accounts. Blake managed millions of dollars across many prop companies after obtaining an impressive 30% return in his first month as a funded trader at FTMO. He then enlarged his funded account portfolio. In an effort to advance the business and satisfy his love of the prop firm concept, Blake teamed up with other traders to start his own finance company, which had a significant impact on how things are now. Smart Prop Trader, one of the most prominent online prop businesses in the world, was born out of this initiative.

Blake is still very much involved in improving the prop company sector. He interviews prop firm founders, makes films ranking prop firms, and reviews them. He also works hard to encourage competition in the market so that traders all over the world benefit.

Website:	https://www.smartproptrader.com/
Year founded:	2022
Currencies:	USD
CEO:	Blake Olson
Minimum funded amount:	$10,000
Maximum funded amount:	$200,000
Allowed daily loss:	4%
Profit sharing (Payouts):	85/15
Trading Platforms:	MetaTrader 4, MetaTrader 5
Available trading markets:	Forex, Crypto, Indices, Commodities

How legal and safe is the Smart Prop Trader prop firm? This is the first question you might have. There is good news: It operates officially and takes care of clients’ safety. Read more about the Smart Prop Trader review below.

Legal/Licence

The first thing to note is that Smart Prop Trader is a member of the National Futures Association (NFA) and is registered with the Commodity Futures Trading Commission (CFTC). These regulatory agencies ensure that the platform adheres to stringent norms and regulations, therefore providing its users with a safe trading environment and protecting them from potential risks.

In addition, Smart Prop Trader has been operational since 2016, and it encompasses a sizable and dynamic community of traders who have been utilizing the platform for a considerable amount of time. Its long history and good reputation among traders further bolster its credibility.

Reputation

On the website Trustpilot, Smart Prop Trader has a significant number of members of their community who have commented and provided favorable comments on the services that their firm offers. From a substantial pool of 2,555 evaluations, the company has received a fantastic rating of 4.7 out of 5, which is relatively high. In a noteworthy turn of events, 89 percent of these evaluations have given Smart Prop Trader the highest possible rating of five stars.

Safe

As a result of Smart Prop Trader’s partnership with Eightcap, which is licensed by the Australian Securities and Investments Commission (ASIC), you may trade with complete assurance, knowing that your money is safe. In order to make the dream of being a professional trader a reality, Smart Prop Trader offers the resources and assistance necessary to make that dream a reality.

Because it provides two two-step assessments, Smart Prop Trader is distinct from the majority of the main prop businesses in the industry. Additionally, it provides a multitude of advantageous features, such as unlimited trading time, no minimum trading day limitations, maximum drawdown scaling, several add-on features, and a profit share of up to 95%. These are just some of the benefits that they offer.

Before being eligible for payments, traders must first complete both rounds of the Smart Prop Trader’s Standard Challenge, which is a two-step assessment process. In the first phase, the profit objective is 7%, and in the second phase, it is 5%. The regulations provide for a maximum daily loss of 4% and a maximum loss of 8%. In addition, there are no limitations for a minimum or maximum number of trading days during either of the assessment stages. The Standard Challenge also features a one-of-a-kind scaling strategy, which enables traders to handle account amounts that are even substantially greater. When compared to other financing programs within the market, the Standard Challenge stands out primarily due to the fact that it offers an unlimited trading term, does not need a minimum trading day, has maximum drawdown scaling, several add-on capabilities, and provides a profit share of up to 95%.

Before being eligible for payments, traders must first complete both parts of the Smart Prop Trader’s Pro Challenge, which is a two-step assessment process. In the first phase, the profit objective is 8%, and in the second phase, it is 5%. The criteria for the maximum daily loss are 5%, and the maximum loss rule is 12%. In addition, there are no limitations for a minimum or maximum number of trading days during either of the assessment stages. Additionally, the Pro Challenge features a one-of-a-kind scaling strategy that enables traders to have even more substantial account amounts. When compared to other financing programs within the market, the Pro Challenge stands out primarily due to the fact that it offers unlimited trading time, does not need a minimum trading day, has maximum drawdown scaling, several add-on capabilities, and provides a profit share of up to 95%.

The next logical step in reviewing Smart Prop Trader prop firms is to examine the main programs that they offer to their clients. There are definitely many to choose from.

Account Size	Profit Split	Phase 1 Profit Target	Phase 2 Profit Target	Max Daily Loss	Max Total Drawdown	Daily Drawdown Reset Type	Drawdown Method	Minimum Trading Days	Maximum Trading Days	Profit Target to Drawdown Ratio	Commissions (Forex)	Leverage	Refund Fee	Scaling	Expert Advisors (EA’s) Allowed	Copy Trading	News Trading	Payout Frequency	Max Allocation (without scaling)	Technology	Trust Pilot Rating	Years in Business	Loyalty Points
10K	90%	10%	5%	5%	10%	Balance-based	Static	None	Unlimited	1:0.67	$3/round lot	Up to 100:1	100%	Yes	Yes	Yes	Yes	14 Days	2M	In-House	4.5	1	154
350K	90%	10%	5%	5%	10%	Balance-based	Static	14 Days	Unlimited	1:0.67	$3/round lot	Up to 100:1	100%	Yes	Yes	Yes	Yes	14 Days	2M	In-House	4.5	1	3520
200K	90%	10%	5%	5%	10%	Balance-based	Static	7 Days	Unlimited	1:0.67	$3/round lot	Up to 100:1	100%	Yes	Yes	Yes	Yes	14 Days	2M	In-House	4.5	1	1694
10K	90%	10%	N/A	4%	5%	Balance-based	Trailing	None	Unlimited	1:0.5	$3/round lot	Up to 100:1	100%	Yes	Yes	Yes	Yes	14 Days	2M	In-House	4.5	1	154
500K	80%	10%	5%	5%	10%	Balance-based	Static	40 Days with a minimum of 20 trades	Unlimited	1:0.67	$3/round lot	Up to 100:1	100%	Yes	Yes	Yes	Yes	14 Days	2M	In-House	4.5	1	5280
50K	90%	10%	N/A	4%	5%	Balance-based	Trailing	None	Unlimited	1:0.5	$3/round lot	Up to 100:1	100%	Yes	Yes	Yes	Yes	14 Days	2M	In-House	4.5	1	154

Standard Challenge

In the first round of evaluation, traders are required to achieve a profit objective of 7% while adhering to their daily loss limits of 4% or 8%. In the first stage, there is no set amount of time that you must trade each day; in fact, there is no minimum or maximum. Simply meeting the 7% profit objective without going over the daily or loss limits will get you into phase two.

In the second round of evaluation, traders are asked to achieve a profit objective of 5% while adhering to their daily loss limits of 4% or 8%. In phase two, there are no set restrictions for the number of trading days you must complete. Reaching the 5% profit objective without breaking the maximum daily or loss limit criteria is all that is needed to go to funded status.

There are no minimum withdrawal limitations once you complete both assessment processes and have a funded account. Remember that there is a daily loss cap of 4% and an overall loss cap of 8%. Withdrawals can be made every two weeks, with the first payout being processed twelve calendar days after you fill your account. Based on the profit you achieve on your funded account, your profit split will range from 75% to 95%.

Enhancements to the Standard Challenge in Smart Prop Trader

• Enhanced Leverage of 1:100
• Extra Challenge Life
• 24-Hour Payout Request
• Balanced-Based Daily Drawdown

Pro Challenge

With Smart Prop Trader’s Pro Challenge, traders may handle accounts with $5,000 to $50,000 in assets. During the two-stage review process, we want to find skilled traders who can turn a profit while keeping risk to a minimum. With the Pro Challenge, you may trade with a leverage of up to 1:30.

In the first round of evaluation, traders are asked to achieve an 8% profit objective while adhering to their daily loss limits of 5% or 12%. In the first stage, there is no set amount of time that you must trade each day; in fact, there is no minimum or maximum. Reaching the 8% profit objective without breaking the maximum daily or loss limit regulations is all that’s needed to move on to phase two.

In the second round of evaluation, traders are asked to achieve a 5% profit objective while adhering to their 5% daily loss or 12% maximum loss limits. In phase two, there are no set restrictions for the number of trading days you must complete. Reaching the 5% profit objective without breaking the maximum daily or loss limit criteria is all that is needed to go to funded status.

There are no minimum withdrawal limitations once you complete both assessment processes and have a funded account. The restrictions for maximum daily loss and maximum loss overall are 5% and 12%, respectively. Withdrawals can be made every two weeks, with the first payout being processed twelve calendar days after you fill your account. Based on the profit you achieve on your funded account, your profit split will range from 75% to 95%.

Profit Splits: Scaling Plan for Challenges

The Standard Challenge also offers a variety of customization options. Once a trader demonstrates consistent profitability over three months, with a return of 2% or higher each month, they will qualify for an account size increase equivalent to 25% of their initial account size. Additionally, they will be granted a maximum loss increase of up to 28%, allowing for greater flexibility in managing potential losses. After successfully scaling their Standard Challenge for the first time, the trader’s profit split jumps to an impressive 95%.

Here’s an example:

• After three months, a qualified account with an initial balance of $100,000 has grown to $125,000.
• Following the next three months, a qualified account of $125,000 will grow to $150,000.
• Following the next three months, a qualified account with an initial value of $150,000 will grow to $175,000.
• And so forth…

Rules and Objectives for Trading Challenges

• Profit Goal: Traders need to reach a specified profit percentage to successfully complete an evaluation phase, withdraw earnings, or expand their trading account. The desired profit margin for Phase 1 is 7%, while Phase 2 necessitates achieving a profit margin of 5%. Funded accounts do not have any predetermined goals for profitability.
• Maximum Daily Loss: The trader’s allowable limit for losses in a single trading day without exceeding the account’s threshold. Every account, regardless of its size, has a cap on the daily loss at 4%.
• Maximum Loss: The trader’s allowable limit for overall losses without exceeding the account’s threshold. Every account size has a cap on potential losses at 8%. (Capable of being expanded up to 28%)
• Traders are not allowed to use any kind of martingale strategy while trading.

Pro Challenge Scaling Plan

The Pro Challenge also offers a variety of scaling options. Once a trader demonstrates consistent profitability over a three-month period, with a return of 2% or higher each month, they will qualify for an increase in their account size by 25% of the initial amount. Additionally, they will also be granted a maximum loss increase of up to 28%. After the trader successfully expands their Pro Challenge, the profit split jumps to an impressive 90%.

Here’s an example:

• After 3 months, a qualified account with an initial balance of $50,000 has grown to $62,500.
• Following the next three months, a well-qualified account of $62,500 will grow to $75,000.
• Following the next three months, a qualified account with an initial balance of $75,000 will grow to $87,500.
• And so forth…

Trading Rules and Objectives for the Pro Challenge

• Profit Goal: Traders need to reach a specified profit percentage to successfully complete an evaluation phase, withdraw earnings, or expand their trading account. The desired profit margin for Phase 1 is 8%, while Phase 2 necessitates achieving a profit margin of 5%. Funded accounts do not have any specific goals for generating profits.
• Maximum Daily Loss: The trader’s predetermined limit on the amount they can lose in a single trading day without exceeding their account’s threshold. Every account, regardless of its size, has a cap on the daily loss at 5%.
• Maximum Loss: The trader’s allowable limit for overall losses without exceeding the account’s threshold. Every account size has a cap on potential losses at 12%. (Capable of being expanded up to 28%)
• Traders are not allowed to use any martingale strategy while engaging in their trading activities.

When it comes to brokering, Smart Prop Trader relies on ThinkMarkets.

With offices in Melbourne and London, ThinkMarkets is a top-tier internet brokerage that deals in a variety of assets. With its in-house ThinkTrader platform, MetaTrader 4, and MetaTrader 5, it offers some of the most renowned trading solutions while giving simple access to many marketplaces.

Trading Instruments

We have discussed before the fact that Smart Prop Trader is connected with ThinkMarkets. ThinkMarkets allows you to trade a wide variety of trading instruments, such as FX pairs, commodities, indices, and cryptocurrencies, with a leverage of up to 1:30, depending on the instrument.

Trading Platforms

Additionally, when it comes to trading platforms, Smart Prop Trader gives you the opportunity to trade on DXtrade, cTrader, or Match-Trader while you are working with them.

Trading Fees

Smart Prop Trader has some of the most affordable rates in the industry. The minimum refundable deposit for traders is USD 67, while the maximum amount is USD 10,000. The refundable fees are directly proportional to the trading objectives. The minimum amount needed for a 25,000 USD account is 167 USD. The cost for an account with $50,000 USD is $267 USD. The minimum deposit required to open an account with 100,000 USD is 467 USD. In addition, if you are able to navigate the assessment time and overcome any problems, an 867 USD deposit will grant you the opportunity to manage a 200,000 USD account.

To understand how to open an account and get started with this company, keep reading our Smart Prop Trader review. Smart Prop Trader offers a straightforward scheme to start trading:

• You can join Smart Prop Trader by completing the registration form with your personal information and entering it into the trading dashboard. This will allow you to become a member of the platform.
• Choose Your Account: Select the size of your account, the trading platform you will use, the broker you will work with, the type of account you will have, and the add-on features you will have.
• Decide Which Payment Option You Will Use: You may select a payment option using either a credit or debit card or a cryptocurrency.
• In the email that you receive from Smart Prop Trader, you will find a greeting. Within this email, you will be able to obtain your login credentials for the trading account that you have just acquired.

Payment Methods at Smart Prop Trader Prop Firm

Debit/credit card payments can be made for the Smart Prop Trader Challenge through the secure Stripe and Payscout platforms. We also welcome digital currency payments via the Coinbase platform.

In order to be eligible for a profit split, a minimum profit of $100 is required.

Customer Support on Smart Prop Trader Company

The Smart Prop Trader understands the importance of offering outstanding assistance to you during your trading journey. Although their FAQ page is an excellent resource for finding answers to frequently asked questions, they also prioritize providing personalized support to ensure that assistance is readily accessible.

If you need immediate help, our dedicated support team is available through various channels such as social media, live chat, email, and more.

Email service: With their round-the-clock email support, your issues will be promptly resolved at any time, day or night.

Our team is here to help! You can reach out to us through our live chat support, which is available on weekdays from 8 AM to 5 PM EST. We are dedicated to providing you with prompt and efficient assistance during our business hours.

In addition, Smart Prop Trader fosters a lively and engaged community, providing traders with a platform on Discord to share their experiences and ideas with fellow traders.

Conclusion Review and Analysis Of Smart Prop Trader Firm

Smart Prop Trader offers two financing programs, the Standard Challenge and the Pro Challenge, both of which are two-step assessments. Smart Prop Trader is an honest and reliable proprietary trading organization.

To become qualified to manage a funded account and earn 75% up to 95% profit splits, you must complete Smart Prop Trader’s Standard Challenge, an industry-standard two-step examination. Traders are required to achieve 7% profit in the first phase and 5% profit in the second phase in order to be financed. Based on the restrictions you’ve set, these trading targets are reasonable: a maximum daily loss of 4% and a maximum loss of 8%. You are free to trade at your speed during both assessment periods; there are no minimum or maximum trading days that you must adhere to. Lastly, the Standard Challenge has a scaling plan so that you can enhance your starting balance.

To become qualified to manage a funded account and earn 75% up to 95% profit splits, you must complete Smart Prop Trader’s Pro Challenge, an industry-standard two-step examination. In order to get financed, traders need to make 8% in the first phase and 5% in the second. With a daily loss cap of 5% and a loss cap of 12% in place, these trading objectives are reasonable. You are free to trade at your speed during both assessment periods; there are no minimum or maximum trading days that you must adhere to. The Pro Challenge has a scaling strategy that lets you enhance your original account amount, which is an important thing to keep in mind.

We suggest Smart Prop Trader to anybody looking for a trustworthy proprietary trading company that accommodates a wide variety of traders with different approaches and offers excellent trading conditions. As an example of the unique features they give traders, there is no minimum trading day requirement, maximum drawdown scaling is possible, and there are a plethora of add-on features. A profit share of up to 95% is possible. When taking into account all that Smart Prop Trader provides to traders worldwide, it is clear that they are among the top prop businesses in the industry.