Smart Prop Trader 2025 Review

1. What is Smart Prop Trader?
2. Smart Prop Trader Pros Cons
3. Is Smart Prop Trader Legit?
4. Smart Prop Trader Challenge
5. Funded Account
6. Account Conditions
7. Payout
8. Smart Prop Trader Alternative

Our Review Method

• 55Brokers Financial Experts with over 15 years of experience in Trading check and verify carefully Proprietary Trading Firm offerings and what the challenge you have to pass to become a Funded Trader to give an expert opinion on Smart Prop Trader and its reliability

What is Smart Prop Trader?

Smart Prop Trader is a proprietary trading firm offering a unique opportunity for traders to manage fully funded accounts. They’re based in Austin, Texas, and provide an innovative two-phase evaluation process for traders to earn these funded accounts. The profit splits offered by Smart Prop Trader start at 85% and can go up to 90%, which is considered generous in the industry.

Being a Prop Trading Firm Smart Prop Trader offers a unique opportunity to engage in Real Trading almost with no Funds needed but to become a Funded Trader meaning trade with Company Funds. All that trader have to do is pass a Test or Challenge to obtain Funded Account and then trade with a Company Account as a Professional Trader, read more about Prop Trading here. Yet, read more about our finds below as there are some efficient risks you need to consider before engaging.

Is Smart Prop Trader Legit?

Smart Prop Trader is generally considered a legitimate proprietary trading firm, with positive reviews and a structured two-phase evaluation process for traders. Its transparency in trading conditions and fees, along with a partnership with Eightcap, an ASIC-regulated broker, further supports its credibility. The firm’s commitment to customer support and a strong trading community also contributes to its legitimacy in the prop trading industry

• However, compared to Forex Brokers, Prop Trading firms are not operating under the Forex Broker license, therefore, are much less regulated and are not overseen by the industry regulators, as such are not highest level safe, since company is the one who maintains the whole operation and giving Funds to run Trading activity, so is important to understand all risks involved.

Is Smart Prop Trader Scam?

We analyzed the company legit information through the official website and did not find evidence for the Smart Prop Trader company to be a scam. Yet, since Prop Trading Firms are almost no regulated by the financial authorities it is hard to define Scam or True nature of the firm.

As our professional advise, it is best to learn well about Prop Trading, understand risks and choose Company with a good reputation also one operate for many years so the proposal is more stable. Yet, since you do not invest much money to trading but just pay subscription fees the potential losses still considered lower if compared to engaging into Real Trading with your own funds. 

Smart Prop Trader Evaluation Rules

Getting to the most important point in our Smart Prop Trader Review is to check how the evaluation challenge is established and what are the conditions to sign-in for trading challange. It means what kind of test you have to pass in order to obtain Funded Trading Account and become a Proprietary Trader, also what are your costs as a trader to become one typically based on Registration Fee.

• The main goal of Challange or Test to prove your trading ability, while the Evaluation divided in 2 phases at Smart Prop Trader with profit targets based on the Account Size you choose. Typically 1 Phase rules are more tight, while Phase 2 gives slightly wider conditions alike to Drawdown mainly caters to prove the sustainability of your trading activity along the time.

Account Balance and Registration Fee

Before you get started for Smart Prop Trader login you will need to select the Account Balance for which you would like to qualify for, based on the size you choose the conditions of the challenge are slightly different. Besides it reflects on registration fee, which you have to pay to the company to participate into the challenge, yet Smart Prop Trading offers a refund of the fee once you become Funded Trader. See our Registration Fee comparison table below:

• Regarding account sizes and prices, Smart Prop Trader offers a range of options, starting from $10,000 to $200,000, with corresponding prices for each account size.
• Overall, Smart Prop Trading Fee conditions and Account Balances are quite attractive, we found account size and fees starts from lower than competitors’ level, which is a plus.

Profit Target

Smart Prop Trader’s evaluation process involves different profit targets for each phase: 7% in the Challenge Phase and 5% in the Verification Phase. Meeting these targets, while adhering to daily and overall loss limits, is essential to qualify for a funded account​

Maximum Loss

In Smart Prop Trader’s evaluation process, traders must stay within a 4% maximum daily loss limit and an 8% overall loss limit in both phases, while aiming to reach specific profit targets.

• To clarify well All set rules have to be in line at the stage of challenge, otherwise your test will be canceled and you will either have to reset it, meaning pay another reset fee to participate to challenge from the beginning.

Minimum Trading Period

Smart Prop Trader’s evaluation process does not impose a minimum trading period or specific time requirements on traders during either the Challenge Phase or the Verification Phase. Traders have the flexibility to trade at their own pace, aligning with their trading strategies and preferences​

See detailed table with Smart Prop Trader Challenge conditions based on Account Size:

Free Trial

Smart Prop Trader offers a free trial. Traders can explore the platform and its services without an initial financial commitment. This trial period allows traders to experience the platform, evaluate its features, and determine if it aligns with their trading goals and preferences. It’s a valuable opportunity for those considering becoming proprietary traders with Smart Prop Trader to assess the platform’s suitability for their needs

Smart Prop Trader Funded Account

Upon successfully passing the test or challenge, the trader’s Funded Account will be established, typically taking a few business days to activate. It’s essential to note that the account conditions and balance will precisely mirror those for which you qualified in your test. If you wish to upgrade to a higher-grade account, you will need to retake the test from the beginning for the account balance you prefer to trade with.

Profit Split

In Smart Prop Trader, traders are entitled to profit splits starting at 85% and going up to 90% once they successfully complete the evaluation process and qualify for a live-funded account. This means that traders can retain a significant portion of the profits they generate while trading with a funded account, making it a lucrative opportunity for those who meet the firm’s requirements and performance targets​

Payout and Withdrawals

Smart Prop Trader processes payouts and withdrawals efficiently. Once a trader places their first trade, a 12-day countdown begins, and they become entitled to receive 85% of the profits. The platform offers flexibility in managing withdrawals: if a trader chooses to withdraw after 14 days, their request is handled instantly, ensuring quick access to funds.

Additionally, traders have the option to leave profits in their accounts for continued trading, and their withdrawal period can extend automatically. This flexibility accommodates both personal and financial requirements, providing traders with convenient access to their earnings

Withdrawal Method

There are various convenient methods offered by Smart Prop Tader once you wish to withdraw funds from you Funded Account. Those Methods include Perfect Money, Crypto Transfers via USDT, USDC, also clasic Bank Transfer, and Wise.

Account Conditions

When evaluating account conditions, we meticulously review the broker’s offerings, including various account preferences, supported platforms, available instruments, and applicable trading costs. Additionally, we prioritize examining leverage levels and trading conditions, as some brokers may impose restrictions on certain strategies and disallow specific practices in funded accounts. Violating these conditions could lead to the loss of the account, necessitating the need to retake the test. Please find below a detailed breakdown:

Trading Instruments

Smart Prop Trader offers a wide range of trading instruments, including forex pairs, commodities, indices, and cryptocurrencies, allowing traders to diversify their trading strategies across various asset classes​

Smart Prop Trader Commission

Another point we check is the Commission or Spread on the trades themselves, this conditions are quite favorable at Smart Prop Trader as the Broker offers Commission basis of only 3$/Per Lot per round for Commodities and Currencies, and 0$ for Indices, which is lower than industry average too.

Leverage

Smart Prop Trader Leverage which you can use to the trading account in both stages under the Challenge and once you become Funded trader is offered up to 1:100 for all instruments. 

Smart Prop Trader App Platform

We found Smart Prop Trader offerings popular MetaTrader platforms, including both verstions MT5 and MT4 . However, there is no any other Platform offered, so if you prefer different software good to consider Alternative proprietary Trading Companies.

Trading Conditions

Smart Prop Trader has crafted its trading conditions to foster a balanced environment conducive to trader profitability and growth. These conditions are designed to enhance trading opportunities and assist traders in advancing through their trading journey effectively.

• Popular conditions like News Trading, Swing Trading, EA Trading and Weekend Holding are all Permitted in Smart Prop Trader. Besides, trader can use Copy Trading from another FundedNext account, which is an extra benefit for various strategy traders. Yet, important to note there are some restrictions too like HighFrequency Trading, Latency Trading and Arbitrage are not permitted.
• As for Smart Prop Trader Slippage typically it does not occur, however during News Trading company restricts open and close of any trade 5 minutes before and after the news, since that is a typical time slippage may happen.

Smart Prop Trader Promotions

As we noticed, the company runs some promotions with available Smart Prop Trader Coupon for discounts available from time to time, as well may include some Smart Prop Trader discount code alike Reset Discount. Yet, conditions usually provided on a temporary basis so good to verify this upon your signing in.

Smart Prop Trader Alternative Brokers

Based on our findings, Smart Prop Trader emerges as an attractive opportunity for funded traders. The company offers competitive costs and provides free trial with subsequent lower costs, expanding opportunities for traders with tighter budgets.

However, it’s advisable to evaluate and compare proposals with other proprietary trading firms. Some popular firms may offer similar conditions or may be better suited for specific traders, providing a broader choice of instruments and platforms beyond MetaTrader. Nonetheless, Smart Prop Trader boasts several advantages worth considering. Please refer to our selection of alternatives below, along with a table comparing Smart Prop Trader to other companies, for a comprehensive comparison.

• FTMO — Great Swing Trading Prop Firm
• TopTier — Good for USA Trading on Funded Accounts
• The Funded Trader — Best for Higher Account Size