As a forex trader planning to take on a prop firm challenge and wants to check out the Smart Prop Trader review, to see if the prop firm is right for you, this post provides all the necessary information you need such as Smart Prop Trader review, Smart Prop Trader discount code, as well as Smart Prop Trader competition. We have meticulously touched every aspect of the SmartProp Trader review to ensure every detail is covered.
Smart Prop Trader evaluation offers funding of up to $200,000 for traders who are looking for a challenge and funding program. The firm has gained popularity among prop traders who are seeking opportunities to trade prop firm funded accounts.
SmartProp Trader prop firm has earned high customer ratings and positive reviews due to its straightforward trading rules and excellent customer support without leaving behind the Smart Prop Trader discount code. According to Trustpilot, the firm has an impressive rating of 4.7 out of 5 from over 1,300 reviews., quite impressive.
Also, the prop firm supports overnight and weekend holding of trades as well as news trading, making it a favorable choice for swing traders who want to capitalize on market movements for more gains.
Owner of Smart Prop Trader
Smart Prop Trader review can not be complete without taking a look at the company profile. The prop firm was founded in September 2022 by Blake Olson. Smart Prop Trader Blake Olson is a professional trader with over a decade of experience in the financial markets. He founded the prop firm to meet the needs of forex traders who are looking for ways to get funding and start trading without using their own funds.
Smart Prop Trader Blake Olson is a prop firm, broker owner professional trader living in Austin, Texas Metropolitan Area. Olson is a graduate of Arizona State University – W. P. Carey School of Business. for more information about Blake Olson smart prop trader, see his LinkedIn page.
Smart Prop Trader Challenge Program
The Smart Prop Trader challenge program offers traders a two-phase challenge to test their trading skills and risk management abilities. The first phase is a demo account with specific rules, including a max daily drawdown of 4%, an overall drawdown of 8%, and a profit target of 7%.
Once traders meet the rules of Smart Prop Trader challenge and pass the evaluation, they move on to the second phase. In the verification phase, traders receive an account with the same balance and rules, but with a less profit target of 5%, which they must achieve to become fully funded.
Fully funded Smart Prop Traders can retain up to 90% of their profits, while the remaining 10% goes to the firm. Traders who achieve a 10% profit qualify for a refund of their subscription fee and can continue trading with the funded account.
Time limits have been removed from both phases of the smart prop trader evaluation program, providing traders with no minimum trading days and unlimited time to pass the challenge.
Traders can join the supportive community through the active Discord channel, where they can discuss trading strategies and ask questions. The firm also offers access to educational resources, including webinars, trading courses, coaching sessions, and smart prop trader discount code.
In addition, the Smart Prop Trader free trial account allows traders to experience the process of trading with the firm at no cost. The Smart Prop Trader free trial account offers the same trading conditions as the evaluation program.
Smart Prop Trader Reviews: Services
In this section of the Smart Prop Trader reviews, we will explore a comprehensive range of services the prop firm provides for traders of all levels. The following sections outline the services offered by SmartProp Trader prop firm.
Trading Platform
Smartproptrader trading firm offers access to the world’s most popular trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) powered by EightCap. These platforms are renowned for their user-friendly interfaces, advanced charting capabilities, and quick execution of trades. Traders can utilize these platforms to trade a diverse array of financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies.
Education and Training
Recognizing the significance of trading education and training, Smart Trader prop firm provides access to a comprehensive education center. Traders can benefit from video tutorials, webinars, and articles covering various trading topics. The education center caters to both beginners and experienced traders.
Additionally, Thesmart Prop Trader offers a mentorship program, connecting traders with experienced mentors who can provide guidance and support.
Risk Management
The prop firm places a strong emphasis on helping traders manage their risk. The firm offers several risk management tools, including stop-loss orders, take-profit orders, and trailing stop orders. Traders can also utilize a risk management calculator to determine appropriate position sizes based on their risk tolerance and account balance. The company requires traders to adopt proper risk management techniques to ensure responsible and consistent trading.
Trading Account Requirements
To become a funded trader, traders must purchase a challenge account from the Smart Trader prop firm. The minimum account size is $10,000, with a refundable subscription fee of $67.
Trading Rules and Guidelines
SmartPropTrader has established a set of trading rules and guidelines that traders must adhere to. These rules are designed to ensure responsible and consistent trading. Traders are required to follow firm’s drawdown rules to continue trading with a funded account.
Trading Performance Requirements
Smart Prop Trading firm has specific requirements regarding traders’ trading performance. Traders must meet the profit targets set by the firm to qualify for a profit split. The profit targets typically range from 8% to 7%, depending on the account size.
Smart Prop Firm Evaluation Period
The Smart Prop Trader evaluation period is meant to test traders’ trading skills and strategies. During this period, traders are given a demo account to trade with. To qualify for a funded account, traders must meet the profit target and avoid hitting the maximum smartprop trader drawdown. Fortunately, there are no time limits imposed on passing the challenge.
Pricing Structure
Smart Prop Trader offers various funding options for traders, enabling them to start or expand their trading careers.
Account balance and fees are $67 for a $10,000 account, $167 for a $25,000 account, $267 for a $50,000 account, $267 for a $100,000 account, and $867 for a $200,000 account. Traders can get additional discounts by using smart prop trader coupon code.
Smart Prop Trader Discount Code
Occasionally, Smart Prop Trader discount codes can be used at to reduce the cost of the trading challenge fees. These codes can be found on their website or social media pages. It is important to note that these codes are only valid for a limited time and may have certain restrictions or limitations. You can Sign up using the smartprop trader discount code: SPT099
Smart Prop Trader Competition
The periodically organized Smart Prop Trader competitions encourage traders to perform well, and in the end, get rewards. Currently, there is an ongoing competition for the month of July where seven traders have the chance to win the following prizes:
- 1st Prize: $100,000 evaluation account
- 2nd Prize: $100,000 evaluation account
- 3rd Prize: $50,000 evaluation account
- 4th Prize: $50,000 evaluation account
- 5th Prize: $25,000 evaluation account
- 6th Prize: $25,000 evaluation account
- 7th Prize: $10,000 evaluation account
Performance Analysis
Smart Prop Trader has gained a reputation for being a reliable and trustworthy prop trading firm. One crucial aspect that traders consider when selecting a prop trading firm is the payout process. Smart Trader prop firm is known for its quick and efficient payouts, which is a significant advantage for traders.
Smart Prop Trader Withdrawal
The Smart Prop Trader withdrawal process is simple. Payouts are processed through Deel or cryptocurrency for countries where Deel is not supported, although traders need to verify their accounts by providing the necessary documentation ahead of time.
What is Smart Prop Trader Payout Duration
Want to know how long it takes Smart Prop Trader to payout? The payout process of the prop firm is aimed to complete within 24 hours of receiving a request, traders can expect to receive their payouts within a day or two. It is important to note that the first payout can be requested within 14 days of trading the funded account and other conditions.
So far, Smart Prop Trader’s single biggest payout of $172,095 to Arts, is one of the biggest prop firms payouts to a single individual in the industry.
What is Smart Prop Trader Pros and Cons
Like any trading platform, Smart Prop Trader has its pros and cons. Let’s explore the pros and cons of the prop firm in this section.
Advantages
- Up to $2,500,000 account with scaling
- The platform offers advanced trading tools and software with real-time market data
- Trade forex, stocks, metals, indices, and cryptocurrencies
- No limit to your trading style, trade as you want
- No minimum and maximum trading day limits
- Use of prop firm EA’s, tools, scripts, indicators, and hedging allowed
- News trading is allowed
- Smart prop trader discount codes for reduction of subscription fees
- Transparent trading conditions and rules
- Refundable fee for traders who meet requirements
- One-time fee: The firm charges a one-time fee.
Disadvantages
- The rigorous 2-step evaluation process
- Relatively new prop firm, less than a year in the market
- No instant funding account
- Max daily drawdown of 4% loss
- Slow Payout: The 24 hours to 48 hours payout is much, 2 to 5 hours is better.
User Experience
Users of Smart Prop Trader have reported a positive experience. The platform’s user-friendly interface, transparent evaluation process, and responsive support channel have received praise. Traders appreciate the opportunity to practice and improve their skills with the demo account and the supportive community available through the Discord channel.
Additionally, traders have said good things about the smart prop trader discount code like SPT099 which allows them to buy challenge accounts at a discounted rate. smartprop trader discount codes can be found on the firm’s social network channels.
Customer Support
Smart Prop Trader review is known for its excellent customer support. The company offers various channels for communication, including email, phone, and live chat. The support team is knowledgeable, responsive, and available 24/7 to assist traders.
SmartProp Trader also provides an extensive FAQ section on their website and offers educational resources to enhance traders’ skills. Customers can also join their Discord server to get support from the community and the company’s staff.
Conclusion
In conclusion, Smartproptrader is a reputable prop trading firm that offers traders the opportunity to trade forex, indices, and commodities. Smart Prop Trader Blake Olsen platform provides transparent trading conditions, a supportive community, and quick payouts as well as reduced fees with the Smart prop trader coupon code, however, traders must follow the rules of Smart Prop Trader challenge.
Smartprop Trader is suitable for both novice and experienced traders, offering a range of educational resources and risk management tools. With its commitment to customer support and dedication to traders’ success, Smartproptrader has established itself as a reliable option in the prop trading industry.
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