Prop trading is one of the most underutilized sources of income in the United States. According to statistics, less than 19,000 Americans prop trade. Smart Prop Trader is worth checking out if you’re among the few looking to become a proprietary trader.
This platform connects aspiring traders with funding and resources to start trading businesses. Their two-phase evaluation program prepares you for the real deal. And if you’re successful, you keep 85-90% of profits, up to $2.5 million!
Smart Prop Trader partners with ASIC-regulated Eightcap, so you can trade confidently, knowing your funds are secure. For the ambitious trader looking to go pro, Smart Prop Trader provides the means and support to make it happen.
Here is a detailed Smart Prop Trader review. Read on to learn what Smart Prop Trader is, how it works, and its pros and cons.
What is Smart Prop Trader?
Smart Prop Trader is a prop trading firm based in Austin, Texas, that provides funded trading accounts and evaluation programs for traders looking to turn pro.
They offer an innovative two-part evaluation process for traders to earn fully funded accounts, with profit splits starting at 85% and going up to 90%. The company provides various tradable assets, like Forex, cryptocurrencies, and stocks. Their funding program has clear rules, including daily loss limits and profit targets. The fees for their program are paid back once you become fully funded.
Smart Prop Trader also provides an Evaluation Program with a scaling plan that rewards consistent and disciplined traders. Unlike other prop firms, they offer flexible trading rules, allowing trades during news reports and on weekends. They use Eightcap, an ASIC-regulated broker, which provides platforms such as MetaTrader 4 and MetaTrader 5.
How Does Smart Prop Trader Work?
If you are looking to join Smart Prop Trader, then you need to understand how the firm works. Smart Prop Trader provides funded trading accounts for qualified traders through their two-phase evaluation process.
Phase 1: Challenge Phase
The Challenge Phase, the first part of the Smart Prop Trader evaluation, tests your discipline, patience, and trading skills. Your goal is to achieve a 7% profit target without going over a 4% maximum daily loss or an 8% total loss limit.
What makes this phase unique is its flexibility. There are no minimum trading day requirements or time constraints. You can trade at your speed, using a strategy that matches your trading style. This allows you to showcase your abilities truly.
You have full control over which markets and instruments you trade. Do you have an eye for spotting breakouts in the forex market? Or maybe you’re a pro at riding momentum in commodities. Whatever your forte, you can focus your efforts there.
Phase 2: Verification Phase
Once you’ve completed the first phase, you move on to the Verification Phase. The rules remain 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 demands allows you to execute a personalized trading experience that aligns with your unique trading goals.
You qualify for a live-funded account after successfully completing these two phases. This allows you to manage accounts with an 85% profit split, scaling their accounts to $2.5 million. The evaluation program is designed to achieve profit targets, develop a professional trading style, and cultivate consistent trading performance.
What are Smart Prop Trader Account Sizes and Prices?
Smart Prop Trader account sizes and prices vary depending on your needs and risk tolerance. This financed prop trading firm offers accounts starting at $10,000 up to $200,000. Pricing is tiered based on account size:
- $10,000 account: $67/month
- $25,000 account: $167/month
- $50,000 account: $267/month
- $100,000 account: $467/month
- $200,000 account: $867/month
Larger accounts provide more buying power and flexibility but also higher fees. Choose an account size that aligns with your investment goals and risk appetite.
What are Smart Prop Trader Payouts?
Once your first trade is placed and the 12-day countdown begins, you’re entitled to 85% of the profits. This demonstrates Smart Prop Trader’s commitment to rewarding your efforts.
The system processes payouts on the same day. If you withdraw after 14 days, your request is handled instantly, so you get paid fast. However, you can also leave profits in your account to keep trading. Your period then extends automatically.
You choose your profit split day up to three times—these tailored payouts to your needs and situation. The flexibility accommodates both personal and financial requirements.
What are The Pros and Cons of Smart Prop Trader According to Smart Prop Trader Reviews?
Smart Prop Trader offers many benefits for new and experienced traders looking for funded stock trading accounts. According to Smart Prop Trader reviews, here are the platform’s pros and cons:
Pros
- A diverse range of trading opportunities.
- A well-structured two-phase evaluation program.
- Generous 85% profit split for traders.
- Efficient payment and account creation systems.
- A vibrant community with outstanding customer service.
- Transparent trading conditions.
- Strong risk management tools.
- Free trial available.
- News trading is permitted.
- No minimum trading day requirements.
- Option to scale the account up to $2,500,000.
Cons
- Difficulty in meeting specific trading objectives.
- Limited availability of live chat support hours.
Learn More About Smart Prop Trader Today
Smart Prop Trader is worth serious consideration if you want to launch a trading career. This prop firm provides traders with a platform to build experience and profits.
Whether you’re just starting or a seasoned trader, Smart Prop Trader gives you the tools and environment to succeed. Learn more about this prop trading firm and take the first step toward an exciting new career.
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