Smart Prop Trader Review 📈 Is it GOOD or BAD? (2024)

Smart Prop Trader is a platform committed to revolutionizing how people engage with their finances, emphasizing simplicity, intelligence, and inclusivity. The following review delves into the three-step process of starting with Smart Prop Trader, their unique challenges, scaling plans, payout systems, affiliate programs, values, leadership, and the overall user experience.

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Challenge Accepted: Step 1

Smart Prop Trader initiates the trading journey with a straightforward challenge. The platform allows unlimited virtual maximum trading days and 0 virtual minimum trading days, ensuring traders can focus on their trades without unnecessary constraints. Completion of the trading objectives leads to advancement to the next level.

Verification Bliss: Step 2

Step 2 involves the verification process, which also comes with unlimited virtual trading days. After successfully completing the trading objectives, traders are automatically upgraded to a fully virtual funded account. This seamless transition sets the stage for a hassle-free trading experience.

Becoming a Smart Prop Trader: Step 3

Upon successful completion of the challenge and verification, traders become fully funded Smart Prop Traders. Congratulations are in order! The next step involves consistent and responsible trading to qualify for an impressive up to 90% profit split, with virtual account scaling reaching up to $2.5 million. Smart Prop Trader consolidates all these steps, ensuring a smooth onboarding process for traders.

Everything In One Place: Trading Variety and Convenience 🌐

Fair Evaluation and Your Virtual Account

Smart Prop Trader provides flexibility by letting traders choose the virtual account size that suits their trading style. Virtual accounts have no restrictions on holding positions over the weekend or trading during macroeconomic news releases, ensuring a seamless trading experience.

Scaling Plan for Long-Term Success

The platform’s scaling plan focuses on building long-term relationships. Consistent and profitable traders witness a 25% increase in their Smart Prop Trader Virtual Account balance every 3 months. Moreover, the max draw increases by 2% every 3 months, providing an incentive for sustained success.

Try Before You Commit: Free Account Option

For those still unsure, Smart Prop Trader offers a free virtual account. This allows users to experience the Smart Prop Trader Challenge with the same trading conditions, providing a risk-free trial before committing to the platform.

Payouts: Maximizing Returns and Flexibility 💸

Default Payout Ratio and Scaling Plan Benefits

The default payout ratio is set at 85:15, but Smart Prop Trader doesn’t stop there. Meeting the conditions of the Scaling Plan not only increases the account balance but also adjusts the payout ratio to an impressive 90:10. This flexibility ensures that traders can maximize their returns according to their performance.

On-Demand Payouts with Customization

Smart Prop Trader Traders can request payouts on-demand, with processing just after 12 days. The unique feature allows traders to choose their Virtual Profit Split Day, providing flexibility and convenience in receiving withdrawals on their preferred day.

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Affiliate Program: Collaborate and Earn 🤝

Assisting in Discovering Skilled Traders

Smart Prop Trader encourages collaboration through its Affiliate Program. Traders can sign up on the dashboard, apply for affiliate status, and share their SPT link to earn commissions. This program creates a symbiotic relationship where both the platform and affiliates benefit from the growth of the trading community.

Rewarding Collaboration with Generous Commissions

The Affiliate Program rewards affiliates for every new trader they bring to Smart Prop Trader. Commissions range from 7.5% to 12.5% of the new trader’s first paid Smart Prop Trader Challenge price, providing a substantial incentive for affiliates to contribute to the platform’s growth.

Values and Mission: Trader-Centric Approach 🌟

Trader-Focused Prop Firm

Smart Prop Trader’s platform is designed by traders, specifically for traders. The emphasis on understanding and meeting the needs of traders within the Prop Firm sector reflects a commitment to fostering success in the trading community.

Core Values: Transparency, Speed, and Education

The platform adheres to core values centered around transparency, speed, and education. Clear rules, swift onboarding, and a commitment to providing educational resources demonstrate Smart Prop Trader’s dedication to facilitating traders’ success.

Community Impact and Contributions

Beyond trading, Smart Prop Trader contributes to various charitable causes. Donations to organizations like Feeding America, Angel Studios, Water.org, and support for projects combating child sex trafficking showcase the platform’s commitment to making a positive impact in the world.

Leadership: The Driving Force Behind Success 👥

Blake Olson: CEO and Forex Educator

Blake Olson, the CEO of Smart Prop Trader, is a finance veteran and forex educator. His dedication to understanding the complexities of users’ trading journeys reflects a commitment to providing a platform that meets the diverse needs of traders.

Ryan Lepper: COO with Extensive Business and Finance Experience

Ryan Lepper, the COO of Smart Prop Trader, brings over two decades of experience in business and finance. From managing a family business to overseeing assets worth $5 billion, Lepper’s expertise contributes to the platform’s overall strength and reliability.

Conclusion: Smart Prop Trader - A Comprehensive Trading Ecosystem 🌐

Smart Prop Trader stands out as a comprehensive trading platform that prioritizes simplicity, transparency, and trader success. From a user-friendly onboarding process to flexible trading conditions, generous payouts, and an impactful affiliate program, Smart Prop Trader offers a holistic trading ecosystem. The platform’s commitment to charitable contributions further emphasizes its dedication to making a positive impact beyond the trading world. With experienced leadership, a values-driven approach, and a focus on continuous improvement, Smart Prop Trader emerges as a promising choice for traders looking for a reliable and supportive trading environment.

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Disclaimer: The information provided in this review is based on publicly available data and user feedback. It is essential that you conduct thorough research and exercise caution before making any financial decisions. Please note that these services or products are not affiliated with tradingservices.io.

Smart Prop Trader Review 📈 Is it GOOD or BAD? (2024)

FAQs

Is Smart Prop Firm legit? ›

With so many scams and fraudulent trading platforms out there, it's understandable to be cautious. However, after thorough research and analysis, we can confidently say that Smart Prop Trader is a legitimate platform.

How long does it take to withdraw from Smartprop trader? ›

The Virtual Profit Split Day can be changed up to 3 times for each withdrawal, anytime between 12 days and 60 days from the start of trading. The payouts are processed within 1-2 business days upon confirming the invoice.

Is prop trading a good idea? ›

Prop trading is worth it, although it's not recommended to invest more than you can afford to lose. Prop trading is suitable for beginner traders who don't have enough capital to start their journey.

What is the payout for Smartproptrader? ›

Payout System

The default payout ratio for all Smart Prop Trader Traders is set to 75:25, however, an 75% share is not where we draw the line.

Do prop firms really pay out? ›

Statistics on Average Trader Payouts

Profit Split: The average prop firm will offer a 80-20 profit split once you become a funded trader. TFT, on the other hand, gives up to a 90% split, — even as high as 95% in some promotions — the highest in the industry.

What is the maximum loss on smart prop trader? ›

8% Virtual Maximum loss is static and calculated on initial Balance. On a $50,000 account, the account can only be breached due to Virtual Maximum Loss if the account's balance or equity goes below $46,000 (8%). Static Drawdown: When you open the account, your max drawdown is set at 8% of your starting balance.

Is prop trading risky? ›

While prop trading in retirement comes with its set of challenges, it can also be a rewarding venture if approached with caution and strategy. It requires a blend of market knowledge, risk management and continuous learning.

What are the downsides of prop trading? ›

- Traders in prop firms often have limited control over the firm's capital. They may need to deposit their own money as collateral or risk management. - Additionally, payouts are subject to the firm's rules, which may restrict a trader's access to profits.

How old is SmartPropTrader? ›

Austin, Texas--(Newsfile Corp. - January 6, 2023) - Smart Prop Trader was launched by Blake Olson at the end of 2022, with their main focus is on speed and efficiency in the funding process.

What is the payout for fortunes funding? ›

Funded traders would get 80% of their earnings every 14 days. If traders would meet Fortunes Funding's conditions they could joining the scaling plan and earn 90% of profits in the profit split. Fortunes Funding had no limit on the number of times traders could do challenges if they have failed them.

Are prop firm accounts real? ›

Prop firm trading is a legitimate way to make money, but it is not without its risks. Prop firms provide traders with access to a significant amount of capital, typically in exchange for a percentage of the profits generated.

Are online prop firms legit? ›

Prop businesses nowadays are utterly unregulated and far apart from the banking industry. As a result, these internet prop companies are legitimate and not a fraud. Scammers do exist in the sector, though, and they attempt to exploit the current market because there isn't much oversight.

Which prop firm is better than FTMO? ›

In our opinion, Funded Next is the best forex prop trading firm now that FTMO has left the US. It boasts up to $4 million in its funding program, has multiple challenge options to select from that make the passing rules not as stringent as some other competitors.

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