Smart Prop Trader Review (10% discount code: FOREXPROPREVIEWS)
4.0

Smart Prop Trader Review (10% discount code: FOREXPROPREVIEWS)

Smart Prop Trader requires traders to be successful in their two-step evaluation program before being granted access to live-funded accounts and the possibility to earn profit splits. However, since they are only looking to invest in disciplined and talented traders, they have a special set of rules that should be respected at all times.
Home » Smart Prop Trader Review (10% discount code: FOREXPROPREVIEWS)
Pros
  • Excellent Trustpilot Rating of 4.5/5
  • Two Unique Funding Programs
  • Multiple Add-on Features
  • Professional Trader Dashboard
  • A Large Variety of Trading Instruments (Forex Pairs, Commodities, Indices, Cryptocurrencies)
  • No Minimum & Maximum Trading Day Requirements
  • High 12% Maximum Drawdown on Pro Challenge
  • Scaling Plan
  • Scaleable Maximum Drawdown
  • First Payout After 12 Days
  • Bi-weekly Payouts
  • Profit Share of 75% up to 95%
  • Overnight & Weekend Holding Allowed
  • News Trading Allowed
Cons
  • 4% Maximum Daily Equity-based Drawdown on Standard Challenge
  • Martingale is Prohibited

Smart Prop Trader is dedicated to ensuring the success of traders’ careers by providing them with optimal deals and guidance. Having developed superior practices and advantageous deals, they have chosen to extend the invitation to traders worldwide to partake in their knowledge and opportunities. Traders have the opportunity to earn substantial profits, with the flexibility to manage account sizes up to $100,000 and receive up to 90% profit splits. This can be accomplished through trading various financial instruments, including forex pairs, commodities, indices, and cryptocurrencies.

Who are Smart Prop Trader?

Smart Prop Trader is a proprietary trading firm with the legal name Smart Prop Trader LLC that was incorporated in July 2022. They are located in Texas, United States, and are being managed by CEO Blake Olson. Smart Prop Trader provides traders with the opportunity to choose between two two-step evaluations while being partnered with 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 and also an experienced finance professional and forex educator. His commitment lies in comprehending complex challenges that individuals encounter when embarking on their trading journey. Like many aspiring traders, Blake initially sought guidance from successful industry players and refined his skills through practice. Throughout the years, he gained a profound understanding of trading strategies by learning from hedge fund managers and through self-study. Eventually, he discovered a consistently profitable strategy. Blake embarked on a career as a trading educator for various firms while also sharing 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. 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. His fondness for the prop firm model and his desire to push the industry forward led Blake to collaborate with fellow traders, establishing his own funding company and shaping the present state of the industry. This endeavor resulted in the creation of Smart Prop Trader, which eventually emerged as one of the leading online prop firms worldwide.

To this day, Blake remains deeply engaged in enhancing the prop firm industry, conducting interviews with prop firm founders, creating review and prop firm ranking videos, and actively working to foster competition within the industry for the benefit of traders worldwide.

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 Standard Challenge provides traders the opportunity to manage account sizes ranging from $5,000 up to $100,000. The aim is to identify talented traders who are profitable and can efficiently manage risk throughout the two-step evaluation period. The Standard Challenge allows you to trade with up to 1:30 leverage.

Account sizePrice
$5,000$57
$10,000$97
$25,000$197
$50,000$297
$100,000$497

Evaluation phase one requires a trader to reach a profit target of 7% while not surpassing their 4% maximum daily loss or 8% maximum loss rules. When it comes to time limitations, note that you have no minimum or maximum trading day requirements during phase one. To proceed to phase two, you are only required to reach the 7% profit target without breaching the maximum daily or maximum loss limit rules.

Evaluation phase two requires a trader to reach a profit target of 5% while not surpassing their 4% maximum daily loss or 8% maximum loss rules. When it comes to time limitations, note that you have no minimum or maximum trading day requirements during phase two. To proceed to funded status, you are only required to reach the 5% profit target without breaching the maximum daily or maximum loss limit rules.

By completing both evaluation phases, you are awarded a funded account with no minimum withdrawal requirements. You must only respect 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 split will be 75% up to 95% based on the profit you make on your funded account.

Add-ons for Smart Prop Trader’s Standard Challenge

  1. Increased 1:100 Leverage
  2. 24 Hour Payout Request
  3. Balance-based Daily Drawdown
  4. Extra Challenge Life

Standard Challenge Scaling Plan

Standard Challenge also has a scaling plan. If a trader is consistently profitable for three months, with a return of 2% or more in each month during the three-month period, you will become eligible for an account size increase equal to 25% of the initial account size as well as a 2% maximum loss increase up to 28%. The profit split increases to 95% after the trader scales their Standard Challenge for the first time.

Example:

After 3 Months: A qualified $100,000 account increases to $125,000.

After the Next 3 Months: A qualified $125,000 account increases to $150,000.

After the Next 3 Months: A qualified $150,000 account increases to $175,000.

And so on…

Standard Challenge Trading Rules & Objectives

  • Profit Target – Traders must achieve a designated profit percentage to successfully conclude an evaluation phase, withdraw earnings, or scale their trading account. The profit target for Phase 1 is set at 7%, whereas Phase 2 requires reaching a profit target of 5%. Funded accounts do not have any specified profit targets.
  • Maximum Daily Loss – The maximum loss limit a trader is allowed to lose in a single trading day without breaching the account. All account sizes have a maximum daily loss of 4%.
  • Maximum Loss – The maximum loss limit a trader is allowed to lose overall without breaching the account. All account sizes have a maximum loss of 8%. (Scaleable up to 28%)
  • No Martingale – Traders are prohibited from employing any form of martingale strategy during their trading activities.

Pro Challenge

Smart Prop Trader’s Pro Challenge provides traders the opportunity to manage account sizes ranging from $5,000 up to $50,000. The aim is to identify talented traders who are profitable and can efficiently manage risk throughout the two-step evaluation period. The Pro Challenge allows you to trade with up to 1:30 leverage.

Account sizePrice
$5,000$67
$10,000$117
$25,000$237
$50,000$357

Evaluation phase one requires a trader to reach a profit target of 8% while not surpassing their 5% maximum daily loss or 12% maximum loss rules. When it comes to time limitations, note that you have no minimum or maximum trading day requirements during phase one. To proceed to phase two, you are only required to reach the 8% profit target without breaching the maximum daily or maximum loss limit rules.

Evaluation phase two requires a trader to reach a profit target of 5% while not surpassing their 5% maximum daily loss or 12% maximum loss rules. When it comes to time limitations, note that you have no minimum or maximum trading day requirements during phase two. To proceed to funded status, you are only required to reach the 5% profit target without breaching the maximum daily or maximum loss limit rules.

By completing both evaluation phases, you are awarded a funded account with no minimum withdrawal requirements. You must only respect the 5% maximum daily loss and 12% 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 split 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

  1. Increased 1:100 Leverage
  2. 24 Hour Payout Request
  3. Balance-based Daily Drawdown
  4. Extra Challenge Life

Pro Challenge Scaling Plan

Pro Challenge also has a scaling plan. If a trader is consistently profitable for three months, with a return of 2% or more in each month during the three-month period, you will become eligible for an account size increase equal to 25% of the initial account size as well as 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.

Example:

After 3 Months: A qualified $50,000 account increases to $62,500.

After the Next 3 Months: A qualified $62,500 account increases to $75,000.

After the Next 3 Months: A qualified $75,000 account increases to $87,500.

And so on…

Pro Challenge Trading Rules & Objectives

  • Profit Target – Traders must achieve a designated profit percentage to successfully conclude an evaluation phase, withdraw earnings, or scale their trading account. The profit target for Phase 1 is set at 8%, whereas Phase 2 requires reaching a profit target of 5%. Funded accounts do not have any specified profit targets.
  • Maximum Daily Loss – The maximum loss limit a trader is allowed to lose in a single trading day without breaching the account. All account sizes have a maximum daily loss of 5%.
  • Maximum Loss – The maximum loss limit a trader is allowed to lose overall without breaching the account. All account sizes have a maximum loss of 12%. (Scaleable up to 28%)
  • No Martingale – Traders are prohibited from employing any form of martingale strategy during their trading activities.

What Makes Smart Prop Trader Different From Other Prop Firms?

Smart Prop Trader differs from most industry-leading prop firms due to offering two two-step evaluations. In addition, they also provide numerous favorable features, such as an unlimited trading period, no minimum trading day requirements, maximum drawdown scaling, numerous add-on features, and a profit split of up to 95%.

Smart Prop Trader’s Standard Challenge is a two-step evaluation that requires traders 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 a unique scaling plan, allowing traders to manage even larger account sizes. 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 & Finotive Funding

Trading ObjectivesSmart Prop TraderFinotive Funding
Phase 1 Profit Target7%7.5%
Phase 2 Profit Target5%5%
Maximum Daily Loss4%5%
Maximum Loss8% (Scaleable up to 28%)10%
Minimum Trading DaysNo Minimum Trading DaysNo Minimum Trading Days
Maximum Trading PeriodPhase 1: Unlimited
Phase 2: Unlimited
Phase 1: Unlimited
Phase 2: Unlimited
Profit Split75% up to 95%75% up to 95%

Example of comparison between Smart Prop Trader & FundedNext

Trading ObjectivesSmart Prop TraderFundedNext (Stellar)
Phase 1 Profit Target7%8%
Phase 2 Profit Target5%5%
Maximum Daily Loss4%5%
Maximum Loss8% (Scaleable up to 28%)10%
Minimum Trading DaysNo Minimum Trading Days5 Calendar Days
Maximum Trading PeriodPhase 1: Unlimited
Phase 2: Unlimited
Phase 1: Unlimited
Phase 2: Unlimited
Profit Split75% up to 95%80% up to 95%

Example of comparison between Smart Prop Trader & E8 Markets

Trading ObjectivesSmart Prop TraderE8 Markets
Phase 1 Profit Target7%8%
Phase 2 Profit Target5%4%
Maximum Daily Loss4%4%
Maximum Loss8% (Scaleable up to 28%)8% (Scaleable up to 14%)
Minimum Trading DaysNo Minimum Trading DaysNo Minimum Trading Days
Maximum Trading PeriodPhase 1: Unlimited
Phase 2: Unlimited
Phase 1: Unlimited
Phase 2: Unlimited
Profit Split75% up to 95%80%

Smart Prop Trader’s Pro Challenge is a two-step evaluation that requires traders to successfully complete two phases before becoming eligible for payouts. The profit target is 8% in phase one and 5% in phase two, with a 5% maximum daily and 12% maximum loss rules. You also have no minimum or maximum trading day requirements during both evaluation phases. The Pro Challenge also has a unique scaling plan, allowing traders to manage even larger account sizes. Compared to other funding programs within the industry, the Pro 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 & TopTier Trader

Trading ObjectivesSmart Prop TraderTopTier Trader
Phase 1 Profit Target8%10%
Phase 2 Profit Target5%5%
Maximum Daily Loss5%5%
Maximum Loss12% (Scaleable up to 28%)10%
Minimum Trading DaysNo Minimum Trading Days4 Calendar Days
Maximum Trading PeriodPhase 1: Unlimited
Phase 2: Unlimited
Phase 1: Unlimited
Phase 2: Unlimited
Profit Split75% up to 95%80% up to 90%

Example of comparison between Smart Prop Trader & Funding Pips

Trading ObjectivesSmart Prop TraderFunding Pips
Phase 1 Profit Target8%8%
Phase 2 Profit Target5%5%
Maximum Daily Loss5%5% (Scaleable up to 7%)
Maximum Loss12% (Scaleable up to 28%)10% (Scaleable up to 14%)
Minimum Trading DaysNo Minimum Trading DaysNo Minimum Trading Days
Maximum Trading PeriodPhase 1: Unlimited
Phase 2: Unlimited
Phase 1: Unlimited
Phase 2: Unlimited
Profit Split75% up to 95%80% up to 90%

Example of comparison between Smart Prop Trader & Funded Trading Plus

Trading ObjectivesSmart Prop TraderFunded Trading Plus
Phase 1 Profit Target8%10%
Phase 2 Profit Target5%5%
Maximum Daily Loss5%5%
Maximum Loss12% (Scaleable up to 28%)10% (Trailing)
Minimum Trading DaysNo Minimum Trading DaysNo Minimum Trading Days
Maximum Trading PeriodPhase 1: Unlimited
Phase 2: Unlimited
Phase 1: Unlimited
Phase 2: Unlimited
Profit Split75% up to 95%80% up to 100%

In conclusion, Smart Prop Trader differs from other industry-leading prop firms by offering two two-step evaluations. In addition, they also provide numerous favorable features, such as an unlimited trading period, no minimum trading day requirements, maximum drawdown scaling, numerous add-on features, and a profit split of up to 95%.

Is Getting Smart Prop Trader Capital Realistic?

It is essential to evaluate the achievability of trading requirements when considering proprietary trading firms that align with your forex trading style. While a company may appear attractive with a high percentage profit split on a generously funded account, the practicality decreases if they demand substantial monthly gains with minimal maximum drawdown percentages, significantly reducing the likelihood of success. Additionally, examining time constraints is crucial, with an unlimited trading period being more advantageous as it eliminates the pressure associated with time constraints. Lastly, it is essential to acquaint yourself with all trading rules during the evaluation process and subsequent funding stages to mitigate the risk of accidentally violating your trading account terms.

  • Receiving capital from the Standard Challenge is realistic primarily due to its relatively modest profit targets (7% in phase one and 5% in phase two) coupled with average maximum loss rules (4% maximum daily and 8% maximum loss, scaleable up to 28%). It is important to note that there are no minimum or maximum trading day requirements, offering flexibility without time constraints, meaning that you can secure funding swiftly in a day or proceed at your preferred trading pace. Furthermore, upon successfully completing both evaluation phases, participants qualify for payouts featuring an advantageous profit split of 75% up to 95%.
  • Receiving capital from the Pro Challenge is realistic primarily due to its relatively modest profit targets (8% in phase one and 5% in phase two) coupled with average maximum loss rules (5% maximum daily and 12% maximum loss, scaleable up to 28%). It is important to note that there are no minimum or maximum trading day requirements, offering flexibility without time constraints, meaning that you can secure funding swiftly in a day or proceed at your preferred trading pace. Furthermore, upon successfully completing both evaluation phases, participants qualify for payouts featuring an advantageous profit split of 75% up to 95%.

After considering all the factors, Smart Prop Trader is highly recommended since you have two funding programs to choose from, which features realistic trading objectives and conditions for qualifying for payouts.

Payment Proof

Smart Prop Trader is a proprietary trading firm that was incorporated on the 25th of August, 2022. They have a large community of traders who have reached funded status and successfully qualify for a profit split.

While working with Smart Prop Trader and reaching funded status with the Standard Challenge or Pro Challenge, you will be eligible to receive your first payout after 12 calendar days. However, after your first payout, you will be eligible to receive payouts if you exceed the initial account size every 14 calendar days. Your profit split will consist of a generous 75% up to 95% based on the profit that you have generated on your funded account.

When it comes to Smart Prop Trader payment proof, you can find it on numerous websites. One example is Trustpilot, where their traders comment regarding their experience while working with the company as well as the 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 numerous payout certificates and interviews of the most successful traders.

Examples of Payout Certificates and Payment Proof can be seen in the images below.

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 with headquarters located in London and Melbourne. They provide quick and easy access to a wide range of markets while delivering some of the most recognized trading solutions: MetaTrader 4, MetaTrader 5, and their in-house developed 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, and they allow you to trade a wide range of trading instruments, which include forex pairs, commodities, indices, and cryptocurrencies with a leverage of up to 1:30, depending on the trading instrument that you are trading.

Forex Pairs

AUD/CADAUD/CHFAUD/JPYAUD/USDCAD/CHFCAD/JPY
CHF/JPYEUR/AUDEUR/CADEUR/CHFEUR/GBPEUR/JPY
EUR/USDGBP/AUDGBP/CADGBP/CHFGBP/JPYGBP/USD
USD/CADUSD/CHFUSD/JPYAUD/NZDAUD/SGDEUR/HUF
EUR/NOKEUR/NZDEUR/PLNEUR/TRYGBP/NZDNZD/CAD
NZD/CHFNZD/JPYNZD/USDSGD/JPYUSD/DKKUSD/HKD
USD/HUFUSD/MXNUSD/NOKUSD/PLNUSD/SEKUSD/SGD
USD/TRYUSD/ZARUSD/THBUSD/BRLZAR/JPYMXN/JPY
NOK/JPYCNH/JPYEUR/SGDGBP/SGDNZD/SGDEUR/HKD
USD/CNHAUD/CNH

Commodities

XAU/USDXAG/USDXPT/USD

Indices

ASX200EUSTX50FRA40GER30NDX100
UK100US30SPX500JPN225

Cryptocurrencies

BTC/USDETH/BTCLTC/USDBCH/USD

Trading Fees

Trading Commission

Trading InstrumentCommission Fee
FOREX 6 USD / LOT
COMMODITIES 0 USD / LOT
INDICES 0 USD / LOT
CRYPTO 0 USD / LOT

Spread Account

To check the live spreads, log in to the trading account below.

PlatformServerLogin NumberPasswordDownload Platform
DXtradeClick here
cTraderClick here
Match-TraderClick 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 provides all clients with entry to a carefully designed trader dashboard, facilitating risk management through constant access to comprehensive statistics and objectives. This guarantees real-time updates and elevating 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 large variety of their community commenting and providing positive feedback regarding their company services. The firm has achieved an impressive rating of 4.5 out of 5 from a substantial pool of 2,578 reviews. Notably, 88% of these reviews have awarded Smart Prop Trader the highest rating of 5 stars.

The first comment shows that Smart Prop Trader is considered an excellent company for traders aiming to advance their careers. The customer service is highlighted as awesome, effectively addressing all doubts. The client expresses hope for Smart Prop Trader to become a top firm in the prop industry.

Smart Prop Trader receives praise for its exceptional customer service, offering the best prices in the industry, easy access to the COO and CEO, no chart manipulation, and optimal spreads. The client expresses happiness with their choice of Smart Prop Trader as their prop firm, highlighting the firm’s commitment to putting traders first and emphasizing that payouts are personally handled by the COO.

Social Media Statistics

Smart Prop Trader can also be found on numerous social media platforms.

Twitter28,500 Followers
Instagram18,800 Followers
LinkedIn637 Followers
Facebook23 Followers & 15 Likes
YouTube6,320 Subscribers
TikTok855 Followers & 4,278 Likes
Discord55,055 Members

Customer Support

Live Chat
Email[email protected]
Phone
DiscordDiscord Link
Telegram
FAQFAQ Link
Help CenterHelp Center Link
WhatsApp
Messenger
Supported LanguagesEnglish, Dutch, Spanish, French, German, Swedish, Chinese, Portuguese

Account Opening Process

  • Registration Form – Register with Smart Prop Trader by filling out the registration form with your personal details and logging into the trading dashboard.
  • Choose Your Account – Choose your account size, trading platform, broker, account type, and add-on features.
  • Apply Discount Code – Apply our discount code FOREXPROPREVIEWS and enjoy a 10% discount on all Smart Prop Trader account types.
  • Choose Your Payment Method – Choose between a credit/debit card and a cryptocurrency payment method.
  • Receive Login Credentials – Find an email with a greeting from Smart Prop Trader, where you can access your login credentials for your newly purchased trading account.

Conclusion

In conclusion, Smart Prop Trader is a reputable and trustworthy proprietary trading firm providing traders with an opportunity to choose between two funding programs, the Standard Challenge and Pro Challenge, which are both two-step evaluations.

Smart Prop Trader’s Standard Challenge is an industry-standard two-step evaluation that requires the completion of two phases before becoming eligible to manage a funded account and earn 75% up to 95% profit splits. Traders must reach profit targets of 7% in phase one and 5% in phase two to become successfully funded. These are realistic trading objectives, considering you have a 4% maximum daily and 8% maximum loss rules to follow. Regarding time limitations, 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 an industry-standard two-step evaluation that requires the completion of two phases before becoming eligible to manage a funded account and earn 75% up to 95% profit splits. Traders must reach profit targets of 8% in phase one and 5% in phase two to become successfully funded. These are realistic trading objectives, considering you have a 5% maximum daily and 12% maximum loss rules to follow. Regarding time limitations, 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 Pro Challenge features a scaling plan, providing you with the opportunity to increase your initial account balance.

I would recommend Smart Prop Trader to individuals seeking a reputable proprietary trading firm that provides exceptional trading conditions catering to a diverse range of individuals with unique trading styles. They provide traders with unique features, such as an unlimited trading period, no minimum trading day requirements, maximum drawdown scaling, numerous add-on features, and a profit split of up to 95%. After considering everything Smart Prop Trader has to offer to traders all across the globe, they can undoubtedly be regarded as one of the industry-leading prop firms.

Our detailed review of Smart Prop Trader was last updated on 09.09.2024 at 12:32 (CE(S)T).

What are your individual opinions on Smart Prop Trader and the services they offer? Do they align with the trading conditions and services you’ve been seeking?

Let us know if you enjoyed our detailed Smart Prop Trader review by commenting below!

Smart Prop Trader Review (10% discount code: FOREXPROPREVIEWS) Details

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