Smart Prop Trader Review

Smart Prop Trader strives to foster success in traders by providing outstanding offers and guidance. With a seasoned team having over a decade's experience in the trading domain, they are geared up to offer invaluable insights.

Smart Prop Trader commits to ensuring success for traders by offering top-tier deals and insights. Their seasoned team, boasting over ten years in trading, has honed best practices and deals which they now extend to traders globally, ensuring favorable trading conditions and profit splits up to 90%.

Introducing Smart Prop Trader

A proprietary trading entity, Smart Prop Trader opens avenues for traders with limited capital, allowing them to leverage up to $400,000 with profit splits as high as 90%. Established in July 2022, their collaboration with Eightcap broker ensures traders receive optimal trading conditions. Their base is set in Austin, Texas, USA.

About CEO Blake Olson

Blake Olson, at the helm of Smart Prop Trader, is a seasoned finance aficionado and a mentor in forex. His journey reflects many traders' path – seeking insights from industry stalwarts and honing his craft. Through interactions with hedge fund magnates and individual research, Blake found a consistently lucrative strategy, which led him to mentor roles and a YouTube channel dedicated to trading. His journey with prop firms, especially a 30% return during his first month with FTMO, saw him managing multi-million-dollar portfolios across various firms. His passion for the model and the desire to advance the industry birthed The Funded Trader, which stands today as a leading online prop firm. Blake remains at the forefront, fostering innovation and competition in the prop firm landscape.

Funding Program Breakdown

Smart Prop Trader presents five dual-step evaluation program account sizes.

Evaluation Program Accounts

These evaluation programs aim to spot and reward consistent, skilled traders, offering up to 1:100 leverage.

Phase 1: Achieve a 7% profit target without breaching 4% daily loss or 8% total loss. This phase doesn't set a minimum trading day constraint to reach the next phase.

Phase 2: Secure a 5% profit target with the same loss limits, also without minimum trading days.

Upon clearing both stages, traders receive a funded account with no profit targets, just adhering to the loss rules. The first profit payout occurs 12 days post the initial trade on the funded account, with subsequent bi-weekly payouts. Profit splits range from 85% to 90%, with the flexibility to choose payout days (up to three changes).

Account Scaling

Consistent profitability over quarterly intervals results in a 25% boost to the original balance. Every scaling increases the max loss limit by 2%, capping at 28%.

For instance, a $200,000 account swells to $250,000 post 3 months, then $300,000 after the next 3 months, and so on.

Trading tools span forex pairs, commodities, indices, and cryptos.

Account Regulations

• Profit Target: Phase 1 at 7%, Phase 2 at 5%. Funded accounts don’t have targets.
• Maximum Daily Loss: A fixed 4% for all account sizes.
• Maximum Loss: Set at 8% but scalable to 28%.
• Martingale Strategy: Prohibited.
• Third-party Copy Trading & EA: There are risks attached to using third-party services. Repetitive strategies may risk breaching capital allocation rules, potentially denying account funding or withdrawals.

What sets Smart Prop Trader apart from other prop firms?

Unlike the majority of top-tier prop firms, Smart Prop Trader seldom restricts your trading approach, indicating a more flexible trading rule system. Trading during significant news events, retaining trades overnight, and even over the weekends is permitted, but remember that employing martingale is not allowed.

Smart Prop Trader's evaluation process is bifurcated into two phases. To be eligible for payouts, traders must successfully navigate both phases. The profit goals are set at 7% for phase one and 5% for phase two. There are rules for a 4% daily maximum loss and an 8% total maximum loss. A unique feature is the absence of a minimum or maximum trading day criteria during these evaluation phases. The evaluation program incorporates a scaling plan. With low profit objectives, no specified maximum or minimum trading days, and adaptable trading regulations, they stand out amongst other leading prop firms.

Comparison between Smart Prop Trader & Finotive Funding:

Comparison between Smart Prop Trader & FundedNext:

Comparison between Smart Prop Trader & E8 Funding:

Summing it up, Smart Prop Trader distinguishes itself from several leading prop firms by allowing traders more freedom in their trading techniques. There are also attractive low-profit targets and no mandated minimum or maximum trading days for the evaluation periods.

Is Smart Prop Trader's capital acquisition feasible?

Evaluating the fit of prop firms based on your forex trading preferences requires scrutinizing the practicality of their trading prerequisites. A high profit-sharing percentage on a generously funded account sounds enticing, but high monthly profit expectations coupled with minimal drawdowns can render your success probability nearly nil.

Gaining capital through Smart Prop Trader's evaluation accounts appears plausible, especially given their reasonable profit objectives (7% for phase one and 5% for phase two) and somewhat lenient maximum loss regulations (4% daily and 8% overall).

Given the aforementioned, Smart Prop Trader emerges as an appealing option for acquiring funding. The evaluation program accounts they offer possess practical trading goals and conditions to qualify for payouts.

Evidence of Payments:

Established in July 2022, Smart Prop Trader already boasts considerable proof of payments made to its successfully funded traders. Evidence is visible on platforms such as Trustpilot, where the community regularly leaves reviews.

‍

Their Discord channel also showcases numerous payout certificates from traders.

Payout procedures at Smart Prop Trader commence 12 days post the initiation of your first trade on your Funded Trader account. A lucrative 85% profit share awaits you. Same-day processing ensures you receive your profits promptly, and if you decide against withdrawing within 14 days, you're free to continue trading until the next profit split. If there's a lack of profit at withdrawal time, your trading duration is extended automatically. Additionally, thrice, you get to pick your preferred profit split day, ensuring you always withdraw at your convenience.

Brokerage Affiliation of Smart Prop Trader:

Smart Prop Trader collaborates with the broker Eightcap, which operates under the ASIC's regulation in Melbourne, Australia. Founded in 2009, Eightcap embarked on a journey to deliver unparalleled financial services. They have an international presence with five offices, offering clients the opportunity to delve into various markets like FX, commodities, indices, and shares.

With a Trust Score of 73/99, Eightcap sits in the medium-risk category. Their offerings include:

• Forex Trading
• CFD Trading
• Cryptocurrency Trading
• Social Trading/Copy-Trading
• 326 Tradable Symbols in total
• 45 distinct Forex Pairs

Two account variants are available: Raw and Standard. Charges differ based on the account type. The Standard account has fees integrated into the spread, while the Raw account has commission-based fees. An essential charge to remember is the overnight fee, applied for retaining an open trade position past the day's end.

Eightcap is exclusively aligned with MetaTrader, offering platforms MetaTrader 4 and its successor, MetaTrader 5.

Their commitment to personalized trading experiences and state-of-the-art technology infrastructure has earned them the title of 'Best Global Forex MT4 Broker 2020' at the Global Forex Awards.

In terms of trading platforms, the options available are MetaTrader 4 and MetaTrader 5.

Trading instruments

Smart Prop Trader allows users to trade with these instruments: forex pairs, commodities, indices, and cryptocurrencies, with 1:100 maximum leverage.

Trading fees

Trading commission:

Spread:

To see the live spreads, you can uses these login credentials for the trading account below:

Platform: MetaTrader 5

Server: EightcapLtd-Demo2

Login Number: 20073579

Password: FTPNewPW2023!

‍Download Platform: Download

Education & Support for Traders

Smart Prop Trader might not offer specialized educational programs, but they compensate with a Blog section on their website. Traders can delve into:

• Trading Tips
• Trading Updates
• Success Stories

Smart Prop Trader maintains an engaging thread on ForexFactory. This platform provides a broader insight about the prop firm, sourced directly from its expansive community.

Moreover, another noteworthy thread on ForexFactory titled "PROP FIRM HUB", initiated by MasterrMind, showcases several mentions of Smart Prop Trader.

To dive deeper into this thread, click here.

Feedback from Traders on Smart Prop Trader

The community holds Smart Prop Trader in high regard.

Trustpilot showcases a myriad of positive testimonials, reflecting a commendable score of 4.7/5 from 982 reviews. Most applaud the firm for its prompt and dependable customer service, as evidenced by the comment below.

Further, their proprietary trading firm stands out due to its competitive spreads in comparison to other leading prop firms. Moreover, many traders appreciate their transparent pricing structure, especially given that they offer accounts scaling up to $200k without sneaky fees.

Online Presence & Social Media Stats

Smart Prop Trader has a notable digital footprint. Their presence includes:

• Facebook: 229 followers
• TikTok: 641 followers
• LinkedIn: 310 followers
• YouTube: 2.65k subscribers with 147 content-rich videos
• Instagram: 8,762 followers

Their Discord channel, a hotspot for lively discussions about Smart Prop Trader, boasts 19,150 members.

Customer Support

Should you have queries, Smart Prop Trader's FAQ might have the answers. Alternatively, you can reach out to their responsive support team or engage with their community on Discord.

Reach the support via:

• Social Media
• Live Chat
• Direct Email:
• info@smartproptrader.com for generic queries
• support@smartproptrader.com for specialized support

Their operating hours are:

• Email support: Round the clock
• Live chat: 8 AM – 5 PM EST (Monday – Friday)

In Summary

Smart Prop Trader stands out as a credible proprietary trading firm, offering traders a choice of five distinct two-step evaluation program account sizes.

Their industry-standard evaluation programs demand traders to achieve profit margins of 7% in phase one and 5% in phase two. These objectives are set within the confines of a 4% daily maximum and 8% total maximum loss. Through these programs, traders can enjoy profit splits between 85% and 90%, with the potential for account scaling.

Smart Prop Trader emerges as a top recommendation for those seeking a prop firm with clear-cut trading regulations. They provide a conducive environment for a diverse group of traders, each with their unique trading approach. Given everything on offer, Smart Prop Trader undoubtedly ranks high among its peers in the proprietary trading domain.

This Smart Prop Trader review was most recently updated on 11.07.2023 at 10:07 (CE(S)T).

Are you impressed with the Proprietary Trading firm's structure? Does Smart Prop Trader offer your desired trading instruments?

Share your feedback on our Smart Prop Trader Proprietary Trading firm analysis!