Smart Prop Trader Review

The following Smart Prop Trader review will go over their evaluation, fees, broker and a lot more.

This way, you can decide for yourself if they are worth it or not:

Smart Prop Trader Pros and Cons

Pros

• Live Funded Accounts
• Highly rated on Trustpilot 
• High funding limits and scaling
• Fast Account Processing 
• Premium Broker 
• Partnership Varied 
• Tradable Instruments
• Trading Style Flexibility
• No daily limits
• EA, Tool, and More Support
• News Trading OK
• Reputable Ownership
• Affordable Prices
• Great Customer Service
• Fast payouts
• Optional Free Trial 

Cons

• Chat hours limited
• 4% daily max drawdown
• Pricey commissions
• New Prop Firm
• 7.5% Max Non-Trailing Drawdown
• No Weekend Jobs
• Low Leverage (10:1 and 2:1)
• Demanding Trading Goals

What is Smart Prop Trader?

Established in 2022, Smart Prop Trader is a proprietary trading company with its headquarters located in Austin, Texas. Their main goal is to provide reasonable prices, little restrictions, and advantageous trading conditions to a worldwide clientele. Their attention-grabbing 7.5% Phase 1 profit target is one of their most notable qualities.

With Smart Prop Trader, traders have access to a wide variety of trading instruments that suit different trading approaches, such as using trading assistant tools and EAs. They have teamed up with Eightcap, a Melbourne, Australia-based broker licensed by ASIC, to enable trading with account values as high as $1,800,000 per account.

The company sets itself apart by offering funded trading accounts and thorough assessment programs that help traders progress in their professions. This is a tempting option for traders because the profit splits begin at 85% and go up to 90%. The service includes a range of tradable assets, including equities, cryptocurrencies, and forex. The program costs are refunded if full financing is attained, and their funding program has clearly defined guidelines with daily loss caps and profit targets.

Going above and beyond, Smart Prop Trader provides a scaling plan in addition to an evaluation program that incentivizes regular and disciplined traders. They continue to have permissive trading policies, allowing trades on weekends and during news coverage. They have selected Eightcap as their broker, which is ASIC-regulated and provides well-known platforms like MetaTrader 4 and MetaTrader 5, to guarantee a stable trading experience. 

Leadership Team of Smart Prop Trader:

Blake Olson (Chief Executive Officer):

As Chief Executive Officer of Smart Prop Trader, Blake Olson is in charge. He joins the company with a lot of knowledge and expertise from his illustrious career in finance. Blake’s experience in the financial industry has given him a thorough grasp of the complexities and difficulties that traders face when they start their trading careers.

Blake Olson is an experienced finance professional who has developed his trading skills and taken on the job of a forex trainer. Because of his dual viewpoint, he can recognize the individual requirements and goals of traders, especially those who are just starting. His goal is to use his wealth of experience and wisdom to develop a trading platform that takes these intricacies into account.

Blake’s devotion to the goals of Smart Prop Trader is demonstrated by his thorough awareness of the many parts of trading and the challenges that traders encounter. Under his direction, the business works to give traders the instruments, materials, and assistance they require to successfully traverse the trading industry. In his capacity as CEO, Blake Olson demonstrates his commitment to building Smart Prop Trader into a platform that gives traders authority and a route to financial success. 

Ryan Lepper (Chief Operating Officer):

Ryan Lepper takes on the crucial position of Chief Operating Officer (COO) at Smart Prop Trader, where his broad background in finance and business greatly aids in the strategic direction and operational excellence of the company.

Throughout his more than two-decade career, Ryan Lepper has had a spectacular ascension in his career. It began with his early position as manager of a family business, where he developed core abilities in management and entrepreneurship. His subsequent successes were firmly based on this experience.

Ryan’s career path saw him take on progressively more duties over time, culminating in his capacity to manage assets worth an astounding $5 billion. This noteworthy accomplishment highlights his extraordinary aptitude for money and commercial management.

Ryan Lepper uses his extensive background and knowledge as COO of Smart Prop Trader to direct the operational initiatives of the business. His knowledge and experience support the organization’s smooth operation and help it maintain its leadership position in the trading sector.

Ryan’s progression from overseeing a family business to managing billions of dollars worth of assets is evidence of his commitment, flexibility, and leadership. His position as COO demonstrates his dedication to Smart Prop Trader’s development and success, which makes him a priceless addition to the company. 

Smart Prop Trader Funding Programs and Challenges: Rules and Requirements

Smart Prop Trader uses a well-acclaimed two-phase evaluation procedure called the Smart Prop Trader Challenge to give traders the chance to manage fully funded accounts.

The purpose of this extensive assessment procedure is to evaluate traders’ abilities and dedication to successful trading. 

Phase 1: Challenge Phase

The first part, which is appropriately called the challenge phase, is designed to assess a trader’s perseverance, discipline, and trading knowledge. Traders must meet stringent risk management requirements, such as a 4% daily maximum loss restriction and an 8% total loss limit, to meet the 7% profit target.

This phase is unique in that it is flexible. There are no strict guidelines regarding the number of minimum trading days or duration limits. With this flexibility, traders may work at their own speed and use a trading strategy that fits their personal trading approach, which lets them show off their abilities. 

Phase 2: Verification Phase

Trades move on to the verification phase when they complete the challenge phase. The phase’s criteria are mostly unchanged, except that the profit target has been lowered to 5%. To guarantee ongoing disciplined trading practices, the same strict risk management guidelines such as the 4% daily loss limit and the 8% total loss limit remain in place.

The verification phase gives traders the same flexibility to trade as the challenge phase does that is, they are not restricted by time or minimum trading day criteria. Because of this versatility, traders can tailor their trading experience to meet their own trading goals.

After traders successfully finish both stages, they are eligible for a live-funded account. These accounts offer a substantial profit possibility in the prop company sector, with an 85% profit split and the ability to grow money up to $2.5 million.

The assessment initiative strives to develop a consistent trading performance and professional trading style in addition to profit targets. Because it strikes a balance between opportunity and challenge, this program is appealing to both seasoned traders and new ones.

Prospective traders can start this adventure by using the offered link to take advantage of a unique discount. Using Smart Prop Trader to launch a trading career is a great chance. 

Smart Prop Trader Broker: Do They Use a Reliable Platform? 

The technology of Smart Prop Trader has been smoothly linked with that of Eightcap, an Australian broker regulated by ASIC that is located in Melbourne. Since its founding in 2009, Eightcap has steadfastly upheld a simple goal: to offer its international clientele outstanding financial services. Equipped with five global offices and regulatory compliance across numerous jurisdictions, Eightcap enables its global clientele to transact in a multitude of marketplaces, encompassing FX, indices, shares, and commodities.

Eightcap has an overall trust score of 73 out of 99, which places it as an ordinary risk broker. Here are a few of its salient attributes: 

• Forex Trading
• CFD Trading
• Cryptocurrency Trading
• Social Trading/Copy-Trading
• A diverse range of 326 Tradeable Symbols
• Access to 45 Forex Pairs

Eightcap provides two different account types: standard and raw. Which of these two account types you select will determine the commissions and fees you pay. While commissions are associated with raw accounts, standard account fees are included in the spread. The overnight cost, which is the interest paid for keeping an open position overnight, should be taken into consideration.

Serving as a MetaTrader-only broker, Eightcap offers access to both the more modern MetaTrader 5 platform from MetaQuotes Software Corporation as well as the more established MetaTrader 4 platform. In the trading industry, these platforms are well known for their adaptability and efficiency.

Eightcap’s dedication to providing a customized trading experience is enhanced by its incredibly effective technological infrastructure, which makes trading easy for its customers. Due to their commitment to quality, they were recognized as the 2020 Global Forex Awards’ Best Global Forex MT4 Broker.

Clients can choose between MetaTrader 4 and MetaTrader 5 for their trading platform, giving them access to the strength of these well-known trading instruments. 

Smart Prop Trader Fees: How Much Do They Charge? 

To accommodate your unique requirements and risk tolerance, Smart Prop Trader provides a variety of account sizes and associated costs. This privately funded proprietary trading company offers tier-based pricing for clients ranging from $10,000 to $200,000:

• $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

Bigger accounts come with greater fees even though they offer more freedom and purchasing power. It’s critical to choose an account size based on your risk tolerance and investing goals. You can choose to pay for your funding plan with bitcoin, debit cards, or credit cards. Coinbase is the cryptocurrency payment processor used by Smart Prop Trader.

Smart Prop Trader makes it easy for you to take your winnings out using Deel accounts, which provide a variety of withdrawal options like Payoneer, wire transfers, bank transfers, and more.

I can use Expert Advisors (EAs) for trading with Smart Prop Trader, except for those that benefit from a demo environment. Trading copies are also permitted as long as the copies originate from my account. However, several trading tactics are prohibited, such as grid trading, latency arbitrage strategies in any form, high-frequency trading, and Martingale.

I am allowed to keep my positions overnight and over the weekend, and it is also acceptable to trade during significant news releases. This mix of features and guidelines offers a welcoming and adaptable environment for traders like me.

Smart Prop Trader Proof of Payment:

In July 2022, Smart Prop Trader, a proprietary trading company, underwent official incorporation. Amazingly, traders who have successfully obtained funding have already provided a significant amount of payment proof. This evidence of their reliability can be seen in both their Discord channel and the reviews that their community has left on Trustpilot. There are a ton of payout certificates from traders who have profited from the company’s offers in this channel.

There is a particular procedure for Smart Prop Trader payouts. They begin 12 days following the execution of your first trade on your Funded Trader account. An alluring 85% profit split is yours as a trader with Smart Prop Trader. The same day that these payouts become available, they are processed.

Additionally, I can trade on my account until my next profit split if I choose not to withdraw my gains within the allotted 14 days. This choice guarantees that my trading endeavors can be in perfect harmony with my financial objectives.

Crucially, my trading period will be automatically extended so I can continue my trading experience even if I find myself without any earnings at the time of withdrawal. It’s important to remember that I have the option to choose my profit split day up to three times. I can conveniently choose the day that works best for me to receive my withdrawals thanks to this function. The goal of Smart Prop Trader is to give me an intuitive and flexible experience.

Smart Prop Trader Customer Support: 

Smart Prop Trader understands how important it is to offer outstanding assistance during your trading career. Their FAQ page is a great resource for answering frequently asked questions, but they also emphasize individualized support to make sure that assistance is always available.

Their committed support staff is available by email, live chat, or social media for those in need of quick assistance.

• Email service: Your issues will be attended to at all times, day or night, thanks to their round-the-clock email service.
• Live Chat help: During business hours on weekdays, live chat help is accessible from 8 AM to 5 PM EST, offering prompt assistance. 

Furthermore, Smart Prop Trader provides traders with a platform to share experiences and insights with other traders on Discord by fostering a lively and active community. 

You can also connect with Smart Prop Trader on various social media platforms:

• Facebook: They maintain a Facebook page with 229 followers.
• TikTok: Their TikTok profile boasts 641 followers.
• LinkedIn: The LinkedIn page has garnered 310 followers.
• YouTube: Their YouTube channel features 2.65k subscribers and hosts 147 uploaded videos.
• Instagram: The Instagram profile enjoys 8,762 followers.

With 19,150 members, the Discord channel offers a forum for a variety of conversations on Smart Prop Trader.

Even though Smart Prop Trader’s FAQ page is a great place to find out information, their support staff is always reachable by email, live chat, or social media. 

For specific inquiries, they offer two active email addresses:

• [email protected]: For general questions about their proprietary trading firm.
• [email protected]: For additional support in the event of issues or concerns.

What makes Smart Prop Trader unique? 

A state-of-the-art proprietary trading firm, Smart Prop Trader is distinguished by its outstanding speed in several critical trading industry operations. This includes processing funded accounts quickly, upgrading accounts effectively, creating accounts quickly, and processing payouts quickly. It has merited a spot among the fastest operators in the field because of the combination of these benefits.

The dedication of Smart Prop Trader to trader-friendly practices is one of its most notable attributes. It takes pride in having some of the lowest Phase 1 requirements in the market and no minimum trading day restrictions. For traders looking for a dependable two-phase prop firm to quickly get capital, this makes it an appealing option. In addition, the company provides extremely low pricing, which puts it among the most affordable choices in the sector. It permits the use of expert advisers (EAs) and does away with restrictions on lot size.

Smart Prop Trader sets itself apart from many of the top prop firms in the industry by taking a lax approach to controlling trading methods. The company has flexible trading policies, enabling traders to trade on the weekends, hold trades overnight, and operate during news releases. It’s crucial to remember that martingale trading techniques are not allowed.

To be eligible for payments, I must complete the two steps of the firm’s evaluation procedure. In phase one, I need to reach a 7% profit target, which is lowered to 5% in phase two. Daily loss limitations are set at 4%, with an overall loss limit of 8%, encouraging me to trade conservatively. Notably, there are no set minimum or maximum trading day restrictions during each appraisal process when pursuing funding. The evaluation program also includes a scaling plan, giving me more opportunities to succeed.

In conclusion, Smart Prop Trader sets itself apart from the competition by adopting permissive trading guidelines and a flexible approach to enforcing trading methods. The ability to trade on news events, maintain holdings overnight, and trade on the weekends is advantageous to me as a trader. Smart Prop Trader offers a distinct and trader-focused experience with minimal profit targets and no minimum or maximum trading day criteria in all assessment phases.

Smart Prop Trader Reviews: What Do Their Customers Say?

On Trustpilot, Smart Prop Trader has 4.7 stars out of 5 stars, and a total of 2,560 customers reviewed them there. They are a verified company on Trustpilot. The company is in an excellent state on this platform.

#1. With a staff of professionals, Smart Prop Trader is the greatest prop firm in the industry. They are constantly accessible to their clients.

These individuals prioritize their clients and quickly resolve technical issues.

I recently completed the second phase of my 10k account, and I hope that our relationship of trust will continue forever.

#2. SPT is still a fantastic prop firm despite all of the problems for US traders with prop firm accounts. Like any prop firm, they are going through some teething pains, but they are trying to make their way through the turbulent trading conditions. In customer service, Carlpe and Newman are always a pleasure to deal with and have consistently gone above and beyond to fix my problems.

#3. In general, this firm seems promising, however, the fact that 8cap is their sole broker puts a stop to it for me. They routinely have horrible spreads, dishonest slippage, and extremely poor execution speeds. They are by far the worst broker I have ever used. I won’t take on a challenge with this company unless they provide a different broker choice.

#4. Equity-based drawdown is the worst rule for a prop firm; to prevent confusion among traders, should explicitly indicate that this is your rule. To make it obvious that the drawdown is dependent on equity, a FAQ on the drawdown and main page is required. A few accounts were lost as a result. Goodbye SPT. Despite the low price offered, I am unable to go on my adventure here due to this rule.

#5. What a garbage organization, Ryan Body Builders refused a large number of payouts and denied funding to people who made stacks of money or passed two phases. SPT even amended the regulations to exclude traders. Never do business with this repulsive company if you locate a real prop company.

Wrapping it up:

If you want to begin your trading journey, I recommend going with CTI’s Scaling Plan. Not only will you get instant funding with them but also get access to their vast selection of tools & resources.

In summary, Smart Prop Trader is a respectable and cutting-edge proprietary trading company that is well-known for its quick and easy account processing, adaptable trading alternatives, and advantageous profit-sharing arrangements. Their affiliation with Eightcap, an ASIC-regulated broker, adds even more legitimacy to them and gives them access to a large selection of trading instruments and reputable trading platforms.

The company’s dedication to helping traders is evident in the lively Discord community where traders can engage and exchange stories, as well as its easily available customer care channels. To accommodate varying risk appetites and trading objectives, they provide a range of account sizes and competitive pricing. Even though Smart Prop Trader has a few challenges and limitations, like short live chat hours and expensive commissions, these are greatly outweighed by all the advantages it offers.

In the end, Smart Prop Trader is a strong choice for traders who want to embrace a flexible trading environment and quickly get funding. Positive client feedback on Trustpilot and other sites demonstrates the company’s commitment to trader success as well as to offering high-caliber assistance and services.