Smart Prop Trader firm says it has “Best Spreads and Commission Payouts in the industry”. Is that true? Let’s firn out.
Introducing Smart Prop Trader: Your Gateway to Forex & Indices Trading
Smart Prop Trader stands out as a prop firm offering an unparalleled Evaluation Process for forex and indices traders. The primary goal? Empower talented traders to obtain funding and earn a share of the profits. While parallels can be drawn with other industry giants like FTMO, My Forex Funds, and The Funded Trader, Smart Prop Trader differentiates itself with extended time limits and commendable trading conditions.
Review – Highlights of Smart Prop Trader:
- Trading Conditions: Smart Prop Trader boasts spreads that can go as low as 0 pips on EURUSD, promising optimal conditions for traders.
- Comprehensive Evaluation Process: The firm sets itself apart with an Evaluation Process tailored to understand and nurture trading talents.
- Extended Time Frames: Unlike its Competition, Smart Prop Trader initially set long time limits, namely 50 and 100 days, for its Evaluation Days. This has been a game-changer for many experienced traders.
Challenges, spreads, payout systems, and benefits of SmartProp Trader.
OFFICIAL SMART PROP TRADER VIDEO:
How to start? – Become Smart Prop Trader in Just Three Phases:
1. Challenge
- The Smart Prop Trader Challenge is streamlined to let you focus on what you do best: trade.
- Enjoy the flexibility of UNLIMITED Virtual Maximum trading days.
- No constraints with 0 virtual minimum trading days; you can swiftly progress as soon as the Trading Objectives are achieved.
2. Verification
- There’s no rush; benefit from UNLIMITED Virtual Maximum trading days.
- With 0 virtual minimum trading days, proceed at your own pace.
- On fulfilling the Trading Objectives, you’ll be seamlessly transitioned to a fully virtual funded account.
3. Embrace Your Role as a Smart Prop Trader
- Welcome aboard! You’re now a fully integrated Smart Prop Trader.
- Trade diligently and consistently.
- Stand a chance to secure up to a 90% profit split.
- Potential to scale your virtual account up to an impressive $2.5 Million.
Distinct Advantages of Associating with Smart Prop Trader:
- Equitable Evaluation: Smart Prop Trader believes in a just and transparent Evaluation Process.
- Versatility in Trading:
- All trading styles are embraced.
- Broad range of trading instruments, including:
- Forex
- Crypto
- Indices
- Commodities
- Trustworthy Brokerage: Partnered with Eightcap, one of the industry’s reliable brokers.
- Tailored Virtual Account:
- Customized to Your Style: Opt for a Smart Prop Trader Virtual Account size that aligns seamlessly with your unique trading strategy and requirements.
- Absolute Flexibility: With Smart Prop Trader Virtual Accounts, you’re free from constraints. There’s complete liberty to hold positions over weekends or even during crucial macroeconomic announcements.
- Progressive Scaling Plan
- Building Strong Partnerships: Smart Prop’s vision is rooted in fostering enduring business collaborations with dedicated traders like you.
- Rewarding Consistency: Show steady and lucrative trading patterns, and witness your Smart Prop Trader Virtual Account burgeon by 25% every 3 months as per the Scaling Plan. Additionally, experience a 2% surge in your Max draw every quarter.
- Risk-Free Exploration
- Test the Waters with Assurance: Not completely convinced yet? Experience Smart Prop Trader’s offerings without a dent in your pocket.
- Mirror Trading Conditions: The Free virtual account emulates the Smart Prop Trader Challenge, ensuring you familiarize yourself with authentic trading conditions, sans any financial commitments.
Smart Prop Trader Payout System Overview:
Introduction: Smart Prop prioritize rewarding dedicated traders. Their payout system is designed not only to be competitive but also to recognize and reward consistent performance.
Default Payout Structure:
- All Smart Prop Trader Traders begin with a payout ratio of 85:15.
- This means 85% of profits go to the trader, and 15% is retained by Smart Prop.
Scaling Plan Benefits:
- If you consistently meet the conditions of our Scaling Plan, your benefits increase.
- The balance of your Smart Prop Trader Virtual Account will see a 25% augmentation.
- Additionally, your payout ratio undergoes an enhancement, shifting from the standard 85:15 to an impressive 90:10.
Flexible Withdrawal System:
- Smart Prop Trader Traders can make on-demand payout requests.
- Payouts are processed in a short span of just 12 days.
- You have the autonomy to designate your own Virtual Profit Split Day.
- This selected day can be altered up to three times, ensuring maximum convenience.
- Our commitment is clear: We ensure you receive your withdrawal on a day that suits you best.
By embracing the Smart Prop Trader Payout System, you are taking a step towards a more rewarding and flexible trading experience. Smart Prop Trader values your efforts and is committed to ensuring that your hard work is recognized and adequately compensated.
Smart Prop Trader: Free Virtual Account
The Free Virtual Account serves as an introductory snapshot of the Smart Prop Trader Challenge. It’s a unique opportunity for new traders to hone their skills and familiarize themselves with our specific trading regulations. Key highlights include:
- Purpose: To aid new traders in practicing their skills and understanding the platform.
- Success Metrics: Excelling in the Free Virtual Account hints at potential success in the full-fledged Smart Prop Trader Challenge.
- Eligibility: Successful performance in this account doesn’t automatically qualify you for a Smart Prop Trader Account. The Evaluation Process remains crucial.
- Demand: The popularity of Free Accounts has skyrocketed, with thousands signing up daily. As such, each trader can only have one Free Account at a given time.
- Additional Tools: Users have access to applications like the Statistical Application, Mentor Application, Account Metrix, Trading Journal, and a condensed version of Account Analysis.
Smart Prop Trader comparison to other popular Prop Trading firms:
Smart Prop vs FTMO vs The Trading Capital vs The Prop Trading
| SmartProp Trader | FTMO | The Trading Capital | The Prop Trading | |
|---|---|---|---|---|
| Account Size & Model | 100K Evaluation | 100K Evaluation | 100K Evaluation | 100K Evaluation |
| Price (USD) | $467 | $553 | $649 | $499 |
| Maximum Drawdown | Daily: 4% | Total: 8% | Daily: 5% | Total: 10% | Daily: 5% | Total: 10% (Funded) | Daily: 5% | Total: 10% |
| Payout Split (Trader/Firm) | 85/15 | 80/20 | 85/15 | 80/20 |
| Minimum Trading Days | 0 Day | 10 Days | 10 Days | 0 Days |
| Evaluation | 2 Phase | 2 Phase | 2 Phase | 2 Phase |
| Time Period For Evaluation | Unlimited & Unlimited | 35 Days & 60 Days | 30 Days Each Phase | 30 Days & 60 Days |
| Targets | Phase 1: 7% | Phase 2: 5% | Phase 1: 10% | Phase 2: 5% | Phase 1: 8% | Phase 2: 5% | Phase 1: 8% | Phase 2: 5% |
| Hold Trade On Weekends | Yes | Yes | Yes | Yes |
Recent UPDATE:
Smart Prop Trader has consistently shown its commitment to improving its offerings. Since its inception, the firm has:
- Removed Time Constraints: In an industry-first move, Smart Prop Trader has done away with time limits, ensuring traders can operate at their pace.
- Price Reduction: Keeping traders at the heart of their decisions, the firm has made its evaluation more accessible by reducing prices.
- Enhanced Scaling Plan: The scaling plan has been revised and improved, ensuring better growth opportunities for successful traders.
In Conclusion:
Smart Prop Trader is not just another prop firm in the industry. It’s a platform that promises flexibility, excellent trading conditions, and opportunities for growth. Whether you’re a seasoned trader or someone new looking to explore, Smart Prop Trader might just be the right fit for you.
Frequently Asked Questions
1. Understanding Evaluation Days
When a trader opens a virtual account, they’re granted unlimited calendar days to participate in the Smart Prop Trader Challenge. Achieving the stipulated virtual profit milestones in both phases paves the way for our Know Your Customer (KYC) process, eventually leading to a live-funded account.
2. Refund Policy of Smart Prop Trader
Once registered, traders instantly receive an email with their account details and login credentials. As such, our no-refund policy activates immediately upon sending these credentials.
3. Grasping the Daily Drawdown Mechanism
- Limits: A 4% virtual maximum daily drawdown and an 8% overall virtual drawdown are in place.
- Implications: The drawdown limit reflects the maximum permissible amount for withdrawal at any moment. To keep their accounts active, traders must ensure their equity remains within this drawdown boundary.
4. Withdrawing Profits from Smart Prop Trader
- Profit Split Timing: The Virtual Profit Split typically occurs monthly. However, traders can request a payout on-demand 12 calendar days post their inaugural trade on the account.
- Flexibility: The Virtual Profit Split Day is adjustable up to three times per withdrawal, anytime between 12 and 60 days from the trading initiation.
- Payout Processing: Once the invoice is verified, the payouts take 1-2 business days. Profits are accessible via a Wise account.
- Split Ratio: The profits are shared at an 85/15 ratio. It’s essential to note that profits from breached accounts, even if remaining, become non-payable. A minimum profit of $100 is a prerequisite for initiating a payout request.
