Jeremy Biberdorf
By: Jeremy Biberdorf
July 26, 2023

Smart Prop Trader Review 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
July 26, 2023

Disclosure

Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.
Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.
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4.7/5

4.7 rating based on 5 ratings

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In a Nutshell: Smart Prop Trader is a prop company that provides a platform for traders to grow their trading careers in a supportive and professional environment. The firm, founded by a professional team led by Blake Olson, is renowned for its superior financial and technology services and operates through an ASIC-regulated broker based in Melbourne, ensuring reliable payment processing.

The firm’s evaluation program involves a two-phase challenge with realistic trading objectives, embracing a variety of trading styles and straightforward rules. The firm offers many tradeable symbols, spanning financial markets to cryptocurrency trading, and caters to diverse trading objectives.

One notable thing about Smart Prop Trader is its profit split. After reaching the profit goal, traders can look forward to a generous profit share, where 85% of the profits go to traders. Moreover, Smart Prop Trader has a straightforward withdrawal process with a minimum processing time, which has earned it a reputation as a trustworthy prop firm in the industry.

The firm organizes monthly trading competitions and maintains a lively discord server for its community.

With its efficient system for automatic account creation, excellent customer service, and stringent risk management tools, Smart Prop Trader emerges as a reliable choice in the trading industry.

Continue reading this comprehensive review of Smart Prop Trader to determine if this platform holds the potential to fulfill your trading ambitions.

Service TypeFees Promotion
Prop Trading FirmVariableTRADE55 coupon code to get a good discount
Pros & Cons
Pros
  • Wide variety of trading opportunities.
  • Well-structured two-phase evaluation program.
  • Generous 85% profit split for traders.
  • Efficient payment and account creation systems.
  • A vibrant community with excellent customer service.
  • Transparent trading conditions.
  • Strong risk management tools.
  • Free Trial
  • News trading allowed
  • No minimum trading day requirements
  • Scaling account option up to $2,500,000
Cons
  • Difficulty in meeting specific trading objectives.
  • Limited hours of live chat support

Smart Prop Trader Overview

Initial Capital$10,000 – $200,000
Price Range$67 – $867
Profit Split85% – 90%
Daily Loss4%
Max Drawdown10%
Profit Target7%
Tradable ProductsForex, Commodities, Indices and Crypto

What is Smart Prop Trader?

smartproptrader.com website
Smart Prop Trader is an Austin-based prop trading firm that offers traders a pathway to secure fully funded trading accounts through a distinctive two-step evaluation. Successful traders can achieve profit splits as high as 90% and see their accounts escalate up to $2.5 million.

The firm presents a diverse range of trading assets, including Forex, Cryptos, and Stocks. Setting them apart, Smart Prop Trader provides unparalleled flexibility in trading, allowing trades during significant news events and weekends.

Their clear funding structure entails defined daily loss limits, profit objectives, and a fee reimbursement upon full funding. For those eyeing growth, an Evaluation Program with a rewarding scaling plan is in place.

Furthermore, they employ Eightcap, an ASIC-regulated broker, ensuring access to esteemed platforms like MetaTrader 4 and 5. Traders can rely on a comprehensive support system, including an informative blog, active ForexFactory thread, and a dedicated support team available through multiple channels.

Learn More About Smart Prop Trader

External Smart Prop Trader Reviews & Ratings

SiteRating
Trustpilotsmartproptrader trustpilot review

Here are some reviews from traders who have experienced the platform firsthand:

“Very impressed with their customer support. They responded almost immediately to my querie via email. Racquel was able to as give me the detailed information I was looking for. I really appreciate it when things are done fast.”
“I have been involved in Forex Trading for a number of years. Recently I began exploring one of the most popular Concepts going today prop Trading. I recently joined smart prop Trader and needless to say with all of my experience in trading there was still many things I did not know and understand, however their customer service representative was outstanding he really did not treat me like just a customer he treated me like I was a part of the company. Answering all my questions, making great recommendations and responding promptly to my needs. Damilola, was my customer service rep, provided outstanding support Services for all of my issues. Thank you very much.”
“I haven’t faced any problems with this company since I started with them.
They pay me fast, I got already 3 payout within few hours every time.
I like their customer service because they are not only fast but also kind and helpful, especially Steve.”
“Great prop firm that is at the forefront of the industry. Always updating their challenge system to benefit us traders and also setting examples for the firms in the same sector.
Staff is great too, quick responses through their discord. Thank you to Steve for handling my ticket efficiently.”

How Smart Prop Trader Works

Smart Prop Trader operates by providing traders the opportunity to manage fully funded accounts. The firm employs a reputable two-phase prop firm evaluation process for traders known as the Smart Prop Trader Challenge. The first phase, the challenge phase, and the second, the verification phase, have maximum time limits of 50 and 100 days, respectively, with no minimum trading days requirement.

Traders must meet specific and realistic trading objectives in each stage to advance, all while adhering to straightforward trading rules.

Here’s a comprehensive look at the two phases:

Phase 1: Challenge Phase, The first phase of the Smart Prop Trader evaluation process, is the Challenge Phase. It’s designed to test your discipline, patience, and trading prowess. Your task is to achieve a profit target of 7% without exceeding a 4% maximum daily loss or an 8% overall loss limit.

What sets this phase apart is its flexibility. There’s no pressure from minimum trading day requirements or time constraints. This means you’re free to trade at your own pace, following a trading strategy that best suits your trading style, giving you the space to truly demonstrate your skills.

Phase 2: Verification Phase Once you’ve successfully completed the first phase, you move on to the Verification Phase. The rules remain largely similar, but the profit target reduces to 5%. The same 4% daily loss limit and 8% overall loss limit apply, ensuring you maintain disciplined trading practices.

Again, you’re free to trade without the stress of minimum trading day requirements or time limitations. This absence of strict trading requirements provides you with the freedom to execute a personalized trading experience that aligns with your unique trading objectives.

Upon successful completion of these two phases, you qualify for a live-funded account. This allows you to manage accounts with an 85% profit split, scaling up their accounts to $2.5 million, a huge profit opportunity within the prop firm industry.

The evaluation program is designed not just to achieve profit targets but to develop a professional trading style and cultivate consistent trading performance. Striking a balance between challenge and opportunity, it provides an appealing option for both beginners and experienced traders. Therefore, you can get started today to enjoy a good discount by using this link here.

 Smart Prop Trader Account Sizes and Prices

Smart Prop Trader accounts for this program are priced as follows:

  • $10,000 at $67
  • $25,000 at $167
  • $50,000 at $267
  • $100,000 at $467
  • $200,000 at $867

Does Smart Prop Trader Process Withdrawals?

Available evidence indicates that Smart Prop Trader processes withdrawals. Since its incorporation in July 2022, many successful traders have provided proof of payments they’ve received from the firm. Trustpilot reviews, for instance, serve as a reliable source, containing numerous testimonials from traders who have received their payments promptly and efficiently.

Beyond that, Smart Prop Trader’s Discord channel also showcases evidence of numerous payout certificates. In this lively and interactive community, traders routinely share their experiences, including the successful completion of the withdrawal process.

So, rest assured; Smart Prop Trader is well-known for its reliable payment processing. The abundance of payment proof from various sources serves as a testament to this.

Smart Prop Trader Payouts

The payout system offered by Smart Prop Trader is notable for its trader-friendly approach. Once you place your first trade on your Funded Trader account, the countdown starts for your potential payout, which will be processed after 12 days. You are entitled to a handsome profit split of 85%, demonstrating the firm’s commitment to rewarding your trading efforst.

One of the advantages of Smart Prop Trader’s system is its same-day payout processing. That means if you decide to withdraw your profits after the 14-day mark, your request will be processed instantly, ensuring quick access to your earnings. However, if you prefer to leave your profits in your account and continue trading, that’s an option as well. In such cases, your trading period will be automatically extended.

Moreover, Smart Prop Trader provides you with the flexibility to choose your own profit split day up to three times. This unique feature allows you to tailor your payout schedule to your convenience, thus accommodating various personal circumstances and financial needs.

Which Broker Does Smart Prop Trader Use?

Smart Prop Trader has aligned itself with a reputable broker to ensure you receive top-tier financial services. They’ve partnered with Eightcap, an ASIC-regulated broker based in Melbourne, Australia. This strategic choice highlights Smart Prop Trader’s commitment to reliable and efficient service and demonstrates their dedication to ensuring that you, as a trader, are operating within a well-regulated and secure environment.

Founded in 2009, Eightcap has a solid reputation in the financial sector. With a straightforward mission to provide exceptional financial services, they’ve established a track record of trust and efficiency. And it’s not just about their home base in Melbourne; they also operate from five offices around the globe and are regulated in multiple locations. This enables them to serve a diverse client base worldwide and provide trading opportunities across a wide range of markets, including FX, indices, commodities, and shares.

Smart Prop Trader Trading Platforms

When it comes to trading platforms, they provide you with access to MetaTrader 4 and MetaTrader 5. These platforms are widely recognized by the trading community for their advanced features, customizability, and user-friendly interface.

MetaTrader 4 and MetaTrader 5 are both renowned for providing a wealth of real-time data, including charts and quotes, alongside a host of other advanced features. These platforms offer a robust environment for both beginner and seasoned traders to execute their trading strategies effectively.

Smart Prop Trader Trading Instruments

Smart Prop Trader has a broad collection of trading instruments to choose from. Whether your interest lies in forex pairs, commodities, indices, or cryptocurrencies, Smart Prop Trader caters to all. In addition, you’re empowered to trade these assets with leverage up to 1:100. This variety of instruments combined with the offered leverage makes it possible for you to diversify your portfolio and explore different markets to maximize your trading opportunities.

Customer Service

At Smart Prop Trader, they understand the importance of high-quality support for your trading journey. Their FAQ page is a rich resource to tackle many common questions. But, for personalized assistance, their readily available support team is just an email, live chat, or social media message away.

Email support is 24/7, ensuring your concerns are addressed at any time, while live chat operates from 8 AM to 5 PM EST on weekdays. Moreover, they’ve cultivated a vibrant Discord community for traders to share insights and experiences.

Customer Reviews

Smart Prop Trader’s dedication to their users is evident in their high-quality service, reflected in their noteworthy 4.8-star rating from over 1,578 user reviews on Trustpilot. Clients continually express their satisfaction with the firm’s top-notch customer support, efficient payout mechanism, favorable trading conditions, and hassle-free funding procedures.

Smart Prop Trader Review Final Thoughts

Smart Prop Trader stands out as a reliable platform for fostering trading careers in a professional and supportive environment. Its key selling points include a well-structured two-phase evaluation program and an impressive 85% profit share, which scales up to 90% and $2.5 million for successful traders. This prop firm differentiates itself with many trading opportunities and tools, which, alongside their association with ASIC-regulated broker Eightcap, bolsters its credibility.

Despite the challenge of meeting certain trading objectives and limited hours for live chat support, the firm’s offering is well-balanced, catering to both novices and seasoned traders. Transparent conditions, strong risk management tools, and efficient systems for payments and account creation further reinforce its reputation. Furthermore, the vibrant Discord community, competitive fees, and promotions make it an even more attractive proposition for traders seeking growth. In essence, if you’re pursuing a trading career and require a platform that marries flexibility, generous profit sharing, and comprehensive support, Smart Prop Trader is a strong contender.

Ready to scale your trading career to new heights with Smart Prop Trader? Take the first step today by signing up for their evaluation program and embrace the opportunity to redefine your trading journey. Don’t wait; your future in trading starts here!

Get Started With Smart Prop Trader

Frequently Asked Questions

Smart Prop Trader has a deep understanding of the trading industry, which they’ve used to create optimal conditions for their clients. Their main objective is to maximize traders’ chances of success in the Evaluation Process. Essentially, when traders profit, so does Smart Prop Trader. That’s why they support their traders with unrestricted trading freedom, offering unmatched account conditions and leverage. Above all, Smart Prop Trader prioritizes simplicity, making the trading process as straightforward as possible for all their traders.

You can use your debit or credit card to pay for the Smart Prop Trader Challenge using Stripe and Payscout. If you have cryptocurrency, you can also use Coinbase to make your payment.

Simply click on this link to get started. Plus, you’ll enjoy a special discount, making it more affordable for you.

Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He’s a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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