Smart Prop Trader is a prop trading firm that offers a range of challenges, competitive spreads, flexible payout systems, and numerous benefits aimed at supporting traders in maximizing their potential.
This review will provide an in-depth look at the firm’s offerings, including account sizes, profit splits, trading instruments, and more.
About Smart Prop Trader Prop Firm: An Overview
Legal Company Name
Prop Trader LLC
Address Details
5830 E. 2nd Street, Casper, WY 82609, USA
Founding Year
September 2022
Registration Location
Casper, Wyoming, USA
Executive Team
Chief Executive Officer: Blake Olson
Trading Platforms
Smart Prop Trader supports various trading platforms to accommodate different trading styles and preferences:
- DXtrade
- Match Trader
- cTrader
Instruments Available at Smart Prop Trader
- Forex
- Crypto
- Indices
- Commodities
How to Make Payments at Smart Prop Trader Prop Firm
Payment methods accepted include:
- Credit/debit cards through the NMI platform
- Cryptocurrency payments through NOWPayments
Account Sizes
Smart Prop Trader offers several account sizes, each with specific profit targets and loss limits:
Standard Accounts:
- $5,000 Account: Step 1: 7%, Step 2: 5%
- $10,000 Account: Step 1: 7%, Step 2: 5%
- $25,000 Account: Step 1: 7%, Step 2: 5%
- $50,000 Account: Step 1: 7%, Step 2: 5%
- $100,000 Account: Step 1: 7%, Step 2: 5%
Pro Accounts:
- $5,000 Account: Step 1: 8%, Step 2: 5%
- $10,000 Account: Step 1: 8%, Step 2: 5%
- $25,000 Account: Step 1: 8%, Step 2: 5%
- $50,000 Account: Step 1: 8%, Step 2: 5%
Profit Splits in Smart Prop Trader Prop Firm
Traders can qualify for up to a 95% profit split, starting with a default ratio of 75:25.
Profit Targets for Smart Prop Trader Prop Firm
Standard Accounts:
- $5,000 Account: Step 1: 7%, Step 2: 5%
- $10,000 Account: Step 1: 7%, Step 2: 5%
- $25,000 Account: Step 1: 7%, Step 2: 5%
- $50,000 Account: Step 1: 7%, Step 2: 5%
- $100,000 Account: Step 1: 7%, Step 2: 5%
Pro Accounts:
- $5,000 Account: Step 1: 8%, Step 2: 5%
- $10,000 Account: Step 1: 8%, Step 2: 5%
- $25,000 Account: Step 1: 8%, Step 2: 5%
- $50,000 Account: Step 1: 8%, Step 2: 5%
Maximum Daily Drawdown and Loss at Smart Prop Trader Prop Firm
Standard Accounts:
- Daily Loss Limit: 4%
- Maximum Loss: 8%
Pro Accounts:
- Daily Loss Limit: 5%
- Maximum Loss: 12%
Minimum/Maximum Trading Days Required at Smart Prop Trader Prop Firm
Standard Accounts:
- Minimum Trading Days: 0
- Maximum Trading Days: No Limit
Pro Accounts:
- Minimum Trading Days: 0 for Challenge, 7 for Funded Accounts
- Maximum Trading Days: No Limit
Pricing for Smart Prop Trader Prop Firm Challenge
- $5,000 Account: $57 (Standard), $67 (Pro)
- $10,000 Account: $97 (Standard), $117 (Pro)
- $25,000 Account: $197 (Standard), $237 (Pro)
- $50,000 Account: $297 (Standard), $357 (Pro)
- $100,000 Account: $497 (Standard)
Commissions and Fees at Smart Prop Trader Prop Firm
- Forex: $6 commission per standard lot
- Metals, Indices, Crypto: No commission
Smart Prop Trader Prop Firm: Refund Policies
Smart Prop Trader does not offer refunds once account credentials are provided. Customers must review the refund policy and Terms & Conditions before placing an order.
Payout Schedules of Smart Prop Trader Prop Firm
Traders can request payouts on-demand. The default payout ratio is 75:25, which can scale up to 95:5. Payouts are processed after four weeks initially and two weeks for subsequent payouts.
Advantages and Disadvantages
(according to Trustpilot Reviews)
Positive Reviews
- Exceptional Customer Support: Quick, understanding, and effective in resolving issues such as account reactivation and platform changes.
- Fair Treatment: Willingness to provide second chances and reinstate accounts with stricter rules when necessary.
- Educational and Empathetic: Customer support provides educational insights on trading issues, like slippage, and resolves problems promptly.
- Community Support: Active and friendly Discord community that offers support and encouragement to traders.
- Flexible and Accommodating: Allows platform changes and accommodates traders' needs, enhancing the trading experience.
Negative Reviews
- Payout Delays: Significant delays in processing payouts, with some users waiting for weeks without resolution.
- Platform Issues: Complaints about being forced to use unwanted platforms and experiencing platform malfunctions.
- Inconsistent Communication: Poor follow-up and lack of clarity from customer support on payout issues.
- Account Rules Disputes: Disagreements over account rules and accusations of scamming when users feel rules were unfairly enforced.
- Perceived Decline in Service: Some users feel the company has deteriorated in reliability and service quality, leading to frustration and mistrust.
FAQ Section
Why Smart Prop Trader is the Safest and Best Firm Available?
- Best Profit Splits Offered in the Industry: Up to 95/5 profit split.
- No Discrimination: Accepts traders from all countries.
- Industry Leading Customer Service: 24/7 support with a high customer satisfaction rating.
How Daily Drawdowns Work On Smart Prop Trader Standard Challenge Accounts
- Maximum Daily Loss: 4%
Which Payment Methods Are Accepted?
- Credit/Debit Cards: Through NMI platform
- Cryptocurrency: Through NOWPayments
Smart Prop Trader Refund Policy
- No Refunds: Once account credentials are received, no refunds are offered.
Which Instruments Can I Trade and What Strategies Am I Allowed to Employ?
- All Instruments Allowed: Forex, Indices, Crypto, etc.
- No Strategy Limitations: Discretionary trading, hedging, algorithmic trading, EAs, etc.
Where is Smart Prop Trader located?
- Location: USA-based with a registered office in Austin, Texas.
What's the Difference Between Standard and Pro Challenges at SPT?
- Profit Targets: Standard: 7%/5%, Pro: 8%/5%
- Drawdowns: Standard: 4%/8%, Pro: 5%/12%
- Minimum Trading Days: Standard: 0, Pro: 0 for Challenge, 7 for Funded