Smart Prop Trader Review
Smart Prop Trader requires traders to complete their two-step evaluation program before gaining access to live-funded accounts and the ability to earn profit splits. However, because they only want to invest in disciplined and talented traders, they have a specific set of rules that must be followed at all times.
Pros
- Outstanding 4.5/5 Trustpilot Rating
- Two Distinct Funding Initiatives
- Numerous Add-on Features
- Dashboard for Professional Traders
- A Wide Range of Trading Tools (Cryptocurrencies, Commodities, Indices, and Forex Pairs)
- No restrictions on the minimum or maximum trading day
- Pro Challenge Scaling Plan: High 12% Maximum Drawdown Scalable Maximum Drawdown First Payout After 12 Days Biweekly Payouts
- 75% to 95% of the profit
- News trading and overnight and weekend holding are permitted.
Cons
- On Standard Challenge Martingale,
- A maximum equity-based drawdown of 4% per day is prohibited.
Smart Prop Trader is committed to helping traders succeed in their jobs by giving them the best discounts and advice. After creating best practices and profitable agreements, they have decided to invite traders from all over the world to benefit from their expertise and opportunities. With the ability to manage account sizes up to $100,000 and receive profit splits of up to 90%, traders have the chance to make significant earnings. Trading a variety of financial assets, such as commodities, indices, FX pairings, and cryptocurrencies, can help achieve this.
Who is Smart Prop Trader?
Smart Prop Trader is a proprietary trading company that was established in July 2022 under the legal name Smart Prop Trader LLC. CEO Blake Olson is in charge of them, and they are based in Texas, USA. In collaboration with Smart Prop Trader, traders have the option to select between two two-step assessments.
ThinkMarkets as their broker. Smart Prop Trader headquarters are located at an address in Austin, Texas, 78701, United States.
Who is the CEO of Smart Prop Trader?
Blake Olson is the CEO of Smart Prop Trader He is also an experienced finance professional and forex educator. The passion for understanding complex problems that a person faces when getting into trading drives him forward. Like most aspiring traders, Blake initially learned from successful people in the industry and honed his skills through experience. He learned to understand the trading strategy over many years by studying hedge fund managers and by self-learning. Eventually, he found a surely profitable strategy. He started lecturing as a trading educator to different companies and shared trading content on his YouTube channel.
Blake continuously sought out increasingly profitable strategies while also imparting his knowledge to thousands of traders in various successful methodologies such as Elliott Wave, Wyckoff, Smart Money Concepts, and other lucrative approaches. Despite being skilled in trading on his personal accounts, Blake decided to try his luck with prop firms. He successfully grew a 30% return in his first month as a funded trader at FTMO. Expanding his portfolio on a funded account, he was able to manage millions of dollars through various prop firms. A proponent of the prop firm model and looking to make strides for the industry, Blake collaborated with fellow traders and eventually went on to create his funding company and shaped the present state of the industry. This effort led to the development of Smart Prop Trader, which eventually became one of the best online prop firms in the world.
To this day, Blake remains heavily involved in improving the prop firm industry by interviewing prop firm founders, creating review and prop firm ranking videos, and actively working to bring more competition into the industry for the good of traders around the world.
Funding Program Options
Smart Prop Trader provides its traders with two unique funding program options:
- Standard Challenge
- Pro Challenge
Standard Challenge
Smart Prop Trader’s Traders can handle account sizes ranging from $5,000 to $100,000 with Standard Challenge. Finding skilled traders who can effectively manage risk over the two-step evaluation phase and turn a profit is the goal. You can use up to 1:30 leverage when trading the Standard Challenge.
| Account size | Price |
| $5,000 | $57 |
| $10,000 | $97 |
| $25,000 | $197 |
| $50,000 | $297 |
| $100,000 | $497 |
Evaluation phase one requires a trader to attain a profit target of 7% without exceeding his or her 4% maximum daily loss or 8% maximum loss rules. With regard to time constraints, remember that you have no minimum or maximum trading day requirements in phase one. To advance to phase two, you only need to attain the 7% profit target without violating the maximum daily or maximum loss limit rules.
Phase two of the evaluation requires a trader to achieve a profit target of 5% without exceeding their 4% maximum daily loss or 8% maximum loss rules. In terms of time constraints, you have no minimum or maximum trading day requirements during phase two. To advance to funded status, you only need to achieve the 5% profit target without violating the maximum daily or maximum loss limit rules.
With both evaluation phases completed, you earn a funded account with no minimum withdrawal requirements. You only have to honor the 4% maximum daily loss and 8% maximum loss rules. Your first payout is 12 calendar days from the day you place your first position on your funded account, while all other withdrawals can be submitted bi-weekly. Your profit share will be 75% up to 95% depending on the profit you earn on your funded account.
Add-ons for Smart Prop Trader’s Standard Challenge
- Increased Leverage of 1:100
- Request for 24 Hour Payout Balance-based Daily Drawdown
- Standard Challenge Scaling Plan for Extra Challenge Life
There is a scaling strategy for Standard Challenge as well. In addition to a 2% maximum loss increase up to 28%, traders who are continuously profitable for three months and report a return of 2% or more each month are eligible for an account size increase equal to 25% of the initial account size. Once the trader scales their Standard Challenge for the first time, the profit split rises to 95%.
For instance:
- Three months later, a $100,000 account that qualifies rises to $125,000.
- An eligible $125,000 account grows to $150,000 after the following three months.
- Following the Next Three Months: An eligible $150,000 account grows to $175,000.
And so on…
Standard Challenge Trading Rules & Objectives
- Profit Target – To successfully complete an evaluation phase, withdraw winnings, or scale their trading account, traders must reach a specified profit %. While Phase 2 calls for achieving a profit target of 5%, Phase 1 has a profit target of 7%. There are no set profit goals for funded accounts.
- Maximum Daily Loss –The highest amount of money a trader can lose in a single trading day without violating their account. The maximum daily loss for all account sizes is 4%.
- Maximum Loss – The highest amount that a trader can lose in total without violating the terms of the account. The maximum loss for all account sizes is 8%. (Adjustable to 28%)
- No Martingale – It is against the law for traders to use any kind of martingale method when trading.
Pro Challenge
Smart Prop Trader’s Account sizes ranging from $5,000 to $50,000 can be managed by traders through Pro Challenge. Finding skilled traders who can effectively manage risk over the two-step evaluation phase and turn a profit is the goal. You can use up to 1:30 leverage when trading in the Pro Challenge.
| Account size | Price |
| $5,000 | $67 |
| $10,000 | $117 |
| $25,000 | $237 |
| $50,000 | $357 |
The first phase of evaluation requires that a trader attain an 8% profit target without losing more than their 5% maximum daily loss or breaking the 12% maximum loss rules. In the case of time limits, please remember that you have neither a minimum nor a maximum number of trading days during phase one. To enter phase two you need only to attain the 8% profit target without breaking the maximum daily or maximum loss limit rules.
In phase two, evaluation requires a trader to attain a profit target of 5% without having more than a 5% loss for the day or experiencing more than a 12% loss. Regarding the time limit, you do not have minimum or maximum trading day requirements in phase two. For you to be granted the funded status, you just need to attain the profit target of 5% without violating the maximum daily loss limit rule or the maximum loss limit rule.
For both phases of the evaluation, you will receive a funded account with no minimum withdrawals, but you will be restricted by two rules, namely a maximum of 5% in a single day and 12% total loss. Payout is made at the end of 12 calendar days since you open the first position on your funded account. All other payouts can be submitted every bi-weekly. Your profit share will be 75% up to 95% based on the profit you make on your funded account.
Add-ons for Smart Prop Trader’s Pro Challenge
- A 1:100 increase in leverage
- Request for Balance-based 24-hour Payout Drawdown Every Day
- Scaling Up for a Greater Challenge The Life Pro Challenge
- Pro Challenge also has a strategy for growth.
Traders who report a return of 2% or more per month and are consistently profitable for three months are eligible for an account size increase equal to 25% of the initial account size, in addition to a 2% maximum loss increase up to 28%. The profit split increases to 90% after the trader scales their Pro Challenge for the first time.
For example:
- After three months, a qualified $50,000 account increases to $62,500.
- A qualified $62,500 account grows to $75,000 over the next three months.
- After the Upcoming Three Months: A $75,000 qualifying account balance becomes $87,500.
And so forth.
Pro Challenge Trading Rules & Objectives
- Profit Target – Traders must hit a predetermined profit percentage in order to scale their trading account, withdraw earnings, or successfully finish an evaluation phase. Phase 1 has a profit target of 8%, while Phase 2 requires reaching a profit target of 5%. Funded accounts have no predetermined profit targets.
- Maximum Daily Loss – The maximum loss a trader can sustain in a single trading day without going over their account limits. For all account sizes, the daily maximum loss is 5%.
- Maximum Loss – The maximum amount a trader can lose overall without going against the account’s rules. For all account sizes, the maximum loss is 12%. (Adjustable to 28%)
- No Martingale – Traders are prohibited from using any form of martingale approach during trading.
What Makes Smart Prop Trader Different From Other Prop Firms?
Smart Prop Trader differs from most industry-leading prop firms This is because they offer two two-step evaluations. Additionally, they also offer many good features; among them is an unlimited trading period, no requirement for a minimum trading day, maximum drawdown scaling, many add-on features, and a profit split of up to 95%.
Smart Prop Trader‘s Standard Challenge is a two-step evaluation in which the trader has to successfully complete two phases before becoming eligible for payouts. The profit target is 7% in phase one and 5% in phase two, with a 4% maximum daily and 8% maximum loss rules. You also have no minimum or maximum trading day requirements during both evaluation phases. The Standard Challenge also has its own specific scaling plan, through which clients can handle even greater accounts. Compared to other funding programs within the industry, the Standard Challenge stands out mainly for having an unlimited trading period, no minimum trading day requirements, maximum drawdown scaling, numerous add-on features, and a profit split of up to 95%.
Example of comparison between Smart Prop Trader & FXIFY
| Trading Objectives | Smart Prop Trader | FXIFY |
| Phase 1 Profit Target | 7% | 10% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 4% | 5% |
| Maximum Loss | 8% (Scaleable up to 28%) | 10% |
| Minimum Trading Days | No Minimum Trading Days | 5 Calendar Days |
| Maximum Trading Period | Phase 1: UnlimitedPhase 2: Unlimited | Phase 1: UnlimitedPhase 2: Unlimited |
| Profit Split | 75% up to 95% | 75% up to 90% |
Example of comparison between Smart Prop Trader & FundedNext
| 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% (Scaleable up to 28%) | 10% |
| Minimum Trading Days | No Minimum Trading Days | 5 Calendar Days |
| Maximum Trading Period | Phase 1: UnlimitedPhase 2: Unlimited | Phase 1: UnlimitedPhase 2: Unlimited |
| Profit Split | 75% up to 95% | 80% up to 95% |
Example of comparison between Smart Prop Trader & E8 Markets
| Trading Objectives | Smart Prop Trader | E8 Markets |
| Phase 1 Profit Target | 7% | 8% |
| Phase 2 Profit Target | 5% | 4% |
| Maximum Daily Loss | 4% | 4% |
| Maximum Loss | 8% (Scaleable up to 28%) | 8% (Scaleable up to 14%) |
| Minimum Trading Days | No Minimum Trading Days | No Minimum Trading Days |
| Maximum Trading Period | Phase 1: UnlimitedPhase 2: Unlimited | Phase 1: UnlimitedPhase 2: Unlimited |
| Profit Split | 75% up to 95% | 80% |
Smart Prop Trader’s Pro Challenge is a two-step evaluation in which traders must successfully complete both phases before being eligible for a reward. The profit target is 8% in phase one and 5% in phase two, with daily and loss limits of 5% and 12%, respectively. You also have no minimum or maximum trading day requirements during either assessment phase. The Pro Challenge also features a unique scaling strategy that allows traders to manage increasingly greater account amounts. The Pro Challenge distinguishes out from other funding programs in the industry because it offers an infinite trading term, no minimum trading day limits, maximum drawdown scaling, several add-on options, and a profit split of up to 95%.
Example of comparison between Smart Prop Trader & TopTier Trader
| Trading Objectives | Smart Prop Trader | TopTier Trader |
| Phase 1 Profit Target | 8% | 10% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% |
| Maximum Loss | 12% (Scaleable up to 28%) | 10% |
| Minimum Trading Days | No Minimum Trading Days | 4 Calendar Days |
| Maximum Trading Period | Phase 1: UnlimitedPhase 2: Unlimited | Phase 1: UnlimitedPhase 2: Unlimited |
| Profit Split | 75% up to 95% | 80% up to 90% |
Example of comparison between Smart Prop Trader & Funding Pips
| Trading Objectives | Smart Prop Trader | Funding Pips |
| Phase 1 Profit Target | 8% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% (Scaleable up to 7%) |
| Maximum Loss | 12% (Scaleable up to 28%) | 10% (Scaleable up to 14%) |
| Minimum Trading Days | No Minimum Trading Days | 3 Calendar Days |
| Maximum Trading Period | Phase 1: UnlimitedPhase 2: Unlimited | Phase 1: UnlimitedPhase 2: Unlimited |
| Profit Split | 75% up to 95% | 60% up to 100% + Monthly Salary |
Example of comparison between Smart Prop Trader & Funded Trading Plus
| Trading Objectives | Smart Prop Trader | Funded Trading Plus |
| Phase 1 Profit Target | 8% | 10% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% |
| Maximum Loss | 12% (Scaleable up to 28%) | 10% (Trailing) |
| Minimum Trading Days | No Minimum Trading Days | No Minimum Trading Days |
| Maximum Trading Period | Phase 1: UnlimitedPhase 2: Unlimited | Phase 1: UnlimitedPhase 2: Unlimited |
| Profit Split | 75% up to 95% | 80% up to 100% |
In conclusion, Smart Prop Trader differs from other industry-leading prop firms by providing two two-step evaluations. Furthermore, they offer a variety of benefits, like an unlimited trading duration, no minimum trading day limits, maximum drawdown scaling, a plethora of add-on tools, and a profit split of up to 95%.
Is Getting Smart Prop Trader Capital Realistic?
When selecting proprietary trading businesses that match your forex trading style, it is critical to assess the feasibility of the trading requirements. While a company may appear appealing with a high percentage profit split on a generously filled account, its practicality suffers if it demands huge monthly profits with low maximum drawdown percentages, greatly limiting the possibility of success. Furthermore, time limits must be considered, with an unrestricted trading period being preferable because it alleviates the pressure associated with time constraints. Finally, it is critical to become acquainted with all trading rules throughout the evaluation and subsequent funding stages in order to reduce the chance of accidentally breaching your trading account terms.
- Receiving capital from the Standard Challenge is realistic above all because of its modest profit targets at 7% in phase one and 5% in phase two and average maximum loss rules at 4% maximum daily and 8% maximum loss, scalable up to 28%. Important: No minimum or maximum trading days requirement. This means you are free to trade without any time constraint, and you can obtain funding in a day if you want or go at your own pace. Also, when both evaluation phases are successfully passed, then you will be eligible for a payout that comes with a very good profit split of 75% to 95%.
- Receiving capital from the Pro Challenge is feasible mainly because it has fairly low profit expectations (8% in stage one and 5% in stage two) along with standard maximum loss rules (5% maximum daily and 12% maximum loss, scaleable up to 28%). It is essential to note that you do not face a minimum nor maximum number of trading days, meaning no time constraint; hence, you can get funding quickly in one day or trade at a pace you prefer. In addition, once you successfully pass the two evaluation stages, you are guaranteed payouts with an excellent profit split of 75% up to 95%.
After considering all the factors, Smart Prop Trader is highly recommended because you have two funding programs to pick from, both of which offer realistic trading objectives and qualifying standards for reward.
Payment Proof
Smart Prop Trader A proprietary trading firm that was incorporated on 25 August, 2022, with a massive community of traders who have reached funded status and are successfully qualifying for a profit split.
While trading with Smart Prop Trader and while becoming funded with the Standard Challenge or Pro Challenge, you would be able to withdraw your first payout after 12 calendar days, but after your first payout, you would be eligible for a payout if you surpass the initial account size every 14 calendar days. Your profit split will consist of a richly generous 75% up to 95% based on the profit that you have generated on your funded account.
About Smart Prop Trader payment proof, one can find this on many websites. For example, there’s Trustpilot, where you can see comments by their traders regarding their experience while working with them and the whole process of how they successfully received payouts.
Another source of payment proof for Smart Prop Trader is their Discord channel, YouTube channel, and Instagram page, where you can find several compensation certificates and interviews with the most successful traders.
The images below show examples of payout certificates and payment proofs.
Which Broker Does Smart Prop Trader Use?
Smart Prop Trader is partnered with ThinkMarkets as their broker.
ThinkMarkets is a premium multi-asset online brokerage based in London and Melbourne. They offer quick and easy access to a wide number of markets, as well as some of the most well-known trading solutions, including MetaTrader 4, MetaTrader 5, and their in-house ThinkTrader platform.
As for trading platforms, while working with Smart Prop Trader, they allow you to trade on DXtrade, cTrader, or Match-Trader.
Trading Instruments
As mentioned above, Smart Prop Trader is partnered with ThinkMarkets, They also offer you to trade a variety of trading instruments, including FX pairings, commodities, indices, and cryptocurrencies, with leverage of up to 1:30, depending on the trading instrument.
Forex Pairs
| AUD/CAD | AUD/CHF | AUD/JPY | AUD/USD | CAD/CHF | CAD/JPY |
| CHF/JPY | EUR/AUD | EUR/CAD | EUR/CHF | EUR/GBP | EUR/JPY |
| EUR/USD | GBP/AUD | GBP/CAD | GBP/CHF | GBP/JPY | GBP/USD |
| USD/CAD | USD/CHF | USD/JPY | AUD/NZD | AUD/SGD | EUR/HUF |
| EUR/NOK | EUR/NZD | EUR/PLN | EUR/TRY | GBP/NZD | NZD/CAD |
| NZD/CHF | NZD/JPY | NZD/USD | SGD/JPY | USD/DKK | USD/HKD |
| USD/HUF | USD/MXN | USD/NOK | USD/PLN | USD/SEK | USD/SGD |
| USD/TRY | USD/ZAR | USD/THB | USD/BRL | ZAR/JPY | MXN/JPY |
| NOK/JPY | CNH/JPY | EUR/SGD | GBP/SGD | NZD/SGD | EUR/HKD |
| USD/CNH | AUD/CNH |
Commodities
| XAU/USD | XAG/USD | XPT/USD |
Indices
| ASX200 | EUSTX50 | FRA40 | GER30 | NDX100 |
| UK100 | US30 | SPX500 | JPN225 |
Cryptocurrencies
| BTC/USD | ETH/BTC | LTC/USD | BCH/USD |
Trading Fees
Trading Commission
| Trading Instrument | Commission Fee |
| FOREX | 6 USD / LOT |
| COMMODITIES | 0 USD / LOT |
| INDICES | 0 USD / LOT |
| CRYPTO | 0 USD / LOT |
Spread Account
| Platform | Server | Login Number | Password | Download Platform |
| DXtrade | – | – | – | Click here |
| cTrader | – | – | – | Click here |
| Match-Trader | – | – | – | Click here |
Education
Smart Prop Trader provides its community with a detailed Blog with educational content, such as the following five categories:
- Success Stories
- Trading Updates
- Trading Tips
Additionally, Smart Prop Trader All clients have access to a professionally built trader dashboard, which helps with risk management by providing constant access to comprehensive statistics and objectives. This ensures real-time changes while improving the overall user experience.
Smart Prop Trader Trading Dashboard
Trustpilot Feedback
Smart Prop Trader has gathered an excellent score on Trustpilot based on their community’s feedback.
On Trustpilot, Smart Prop Trader has a high number of community members commenting and providing good feedback on their company’s services. The organization received an amazing 4.5 out of 5 rating from a large pool of 2,578 evaluations. Interestingly, 88% of these reviews have awarded Smart Prop Trader the highest rating of 5 stars.
The first comment shows that Smart Prop Trader is regarded as a good organization for traders looking to further their careers. The customer service is praised as excellent, efficiently resolving any concerns. The client hopes Smart Prop Trader will become a leading firm in the prop industry.
Smart Prop Trader is praised for providing excellent customer service, giving the best prices in the business, easy access to the COO and CEO, no chart manipulation, and ideal spreads. The client is pleased with their choice of Smart Prop Trader as their prop firm, underlining the firm’s commitment to putting traders first and the fact that payouts are directly handled by the COO.
Social Media Statistics
| 28,500 Followers | |
| 18,800 Followers | |
| 637 Followers | |
| 23 Followers & 15 Likes | |
| YouTube | 6,320 Subscribers |
| TikTok | 855 Followers & 4,278 Likes |
| Discord | 55,055 Members |
Customer Support
| Live Chat | ✅ |
| support@smartproptrader.com | |
| Phone | ❌ |
| Discord | Discord Link |
| Telegram | ❌ |
| FAQ | FAQ Link |
| Help Center | Help Center Link |
| ❌ | |
| Messenger | ❌ |
| Supported Languages | English, Dutch, Spanish, French, German, Swedish, Chinese, Portuguese |
Account Opening Process
- Registration Form – Register with Smart Prop Trader by entering your personal information into the registration form and login in to the trading dashboard.
- Choose Your Account – Select your account size, trading platform, broker, account type, and additional options.
- Choose Your Payment Method – Choose between credit/debit card and Bitcoin payment methods.
- Receive Login Credentials – Find an email from Smart Prop Trader with a welcome message and your login information for your freshly purchased trading account.
Conclusion
In conclusion, Smart Prop Trader is a proprietary trading firm with a good reputation and credibility, which offers traders the opportunity to choose between two funding programs: Standard Challenge and Pro Challenge, both of which are two-step evaluations.
Smart Prop Trader‘s Standard Challenge is an industry-standard two-stage evaluation whereby two phases must be completed prior to becoming eligible for managing a funded account as well as 75% to 95% profit splits. The required profit targets during phase one are 7% as well as 5% at the end of phase two for a successful funding result. These are realistic trading goals, given that you have rules of a maximum 4% daily and 8% maximum loss. As for the time constraints, you have no minimum or maximum trading day requirements during both evaluation phases, meaning that you can trade based on your preferred pace without any time pressure. Finally, it’s essential to note that the Standard Challenge features a scaling plan, providing you with the opportunity to increase your initial account balance.
Smart Prop Trader‘s Pro Challenge is the industry-standard, two-step evaluation requiring the successful completion of two phases to be allowed to manage a funded account and earn 75% up to 95% profit splits. A trader would need to meet a 5% profit target during phase two after first needing to hit an 8% profit target during phase one to become successfully funded. These are sensible trading goals in line with your 5 percent rule to avoid a 12% max loss. About the limitations of time, it holds no minimum and no maximum limit on the number of days to trade on an evaluation phase, therefore the capacity to trade at the preferred speed without time pressures on these conditions. Finally, it’s worth noting that the Pro Challenge has a scaling plan, so you will be given the chance to increase your account balance once you’re signed up.
I would suggest Smart Prop Trader to any individuals who are looking for a renowned proprietary trading firm that delivers remarkable trading conditions for people from various walks of life who have different trading styles. This proprietary trading firm will present the trader with specific exclusive features, such as an infinite trading period, no mandatory trading days, maximum drawdown scaling, numerous add-on options, and a profit split up to 95%. After taking into account all that Smart Prop Trader has in store for traders across the world, the company can truly be said to be one of the industry-leading prop firms.
What are your thoughts on Smart Prop Trader and the services they provide? Are they compatible with the trade circumstances and services you’ve been looking for?
Please leave a comment if you enjoyed our detailed Smart Prop Trader review!