Advantages and disadvantages
Advantages
- Excellent Trustpilot rating of 4.7/5
- Dashboard for professional traders
- A large variety of trading instruments (Forex pairs, commodities, indices, cryptocurrencies)
- Leverage up to 1:100
- There are no minimum and maximum trading day requirements
- Scale expansion plan
- The maximum withdrawal level can be expanded
- First payment after 12 days
- Payouts every two weeks
- Profit sharing from 85% to 90%
- Overnight & weekend holding allowed
- News trading is allowed
Disadvantages
- Withdrawal based on daily maximum equity 4%
- Martingale is prohibited
I.Prop firm information
What is Smart Prop Trader?
Smart Prop Trader (SPT) is a capital fund in the United States, established on September 19, 2022. The CEO of SPT fund is Blake, he is the owner of the youtube channel Trade Connect VVS
The main goal of SPT is to give traders the opportunity to overcome funding challenges. Simply put, if the trader is profitable then so is the SPT.
SPT allows each trader to manage a maximum capital of $400,000.
The advantage of SPT is unlimited evaluation time and quick customer support service
Who is the CEO of Smart Prop Trader?
Contact Info
Website: https://www.smartproptrader.com/
Email: support@smartproptrader.com
Address: 30 N Gould ST Ste N, Sheridan, WY 82801
II.Prop firm products
1. Standard account
Requires 2 rounds of challenges
Note: Fees will be refunded at the first profit payment. SPT always has a promotion program to reduce participation fees.
Round 1
– Profit target is 7%.
– No minimum trading days required.
– Unlimited time.
– Daily decline limit is 4%.
– Account decline limit is 8%
Round 2
– Profit target is 5%.
– No minimum trading days required.
– Unlimited time.
– Daily decline limit is 4%.
– Account decline limit is 8%
How is Smart Prop Trader different from other prop companies?
Comparison example between Smart Prop Trader & FundedNext
Comparison example between Smart Prop Trader & E8 Funding
2. Pro Account
Requires 2 rounds of challenges
Note: Fees will be refunded at the first profit payment. SPT always has a promotion program to reduce participation fees.
Round 1
– Profit target is 8%.
– No minimum trading days required.
– Unlimited time.
– Daily decline limit is 5%.
– Account decline limit is 12%
Round 2
– Profit target is 5%.
– No minimum trading days required.
– Unlimited time.
– Daily decline limit is 5%.
– Account decline limit is 12%
How is Smart Prop Trader different from other prop companies?
Pro's account Smart Prop Trader
Comparison example between Smart Prop Trader & Funded Trading Plus
In short, Smart Prop Trader differs from other prop firm companies by offering a single account type, two-step review. In addition, they also offer many favorable features, such as unlimited trading time, no minimum trading day requirement, maximum withdrawal rate, and high starting profit split of 85%.
Funding phase
Once you complete the review period, you will receive a “passed” dashboard notification. You need to complete the trading agreement and KYC verification before receiving your funding account.
The 2 main trading rules you need to remember are:
– Daily drop limit of 4% for Standard rating and 5% for Pro rating
– Account drop limit of 8% for Standard rating and 12% for Pro rating
There will be no profit target or time limit, however you need to place at least 1 trade within 30 days, if the account is left inactive for 30 days the account will be terminated.
You will receive 85% of the profits you generate on your funding account.
Withdrawal policy
You are allowed to withdraw funds 12 days after making your first transaction. The profit distribution date can be changed up to 3 times per withdrawal, anytime between 12 and 60 days from the start of trading, this policy is similar to FTMO
To withdraw SPT requires your account to have a minimum profit of $100.
You can make a withdrawal request on the dashboard, SPT will process your withdrawal request within 1-2 business days.
In case your funding account is breached and there are still profits, those profits will not be paid out.
Note: Fees will be refunded on the first withdrawal.
Withdrawal method
SPT pays profits to Traders via:
– Rise, Wise or Crypto.
Note: SPT requires a minimum profit for withdrawal of $100
Policy to expand capital and increase downside limits
If for 3 consecutive months you have a profit equal to or greater than 2%, you will increase your account loss limit by 2% (maximum 28%) and increase your capital by 25%.
Example $100,000 funding account – 8% drawdown limit
1st capital expansion: $100,000 + $25,000 = $125,000
– Account decline limit is 10%
Second capital expansion: $125,000 + $25,000 = $150,000
– Account decline limit is 12%
Third capital expansion: $150,000 + $25,000 = $175,000
– Account decline limit is 14%
…
Nth expansion: Maximum $2,500,0000.
After one expansion, you will receive a profit sharing rate of 90%.
III.Frequently asked questions
Does SPT organize any competitions?
Yes.
Does SPT offer a free trial account?
Yes, you can use SPT's free trial account to experience the trading conditions before deciding to purchase a funded challenge account.
What documents do I need for verification/KYC?
You only need to provide identity verification documents by using one of the following: National ID card, driver's license, or passport.
What happens if my account is inactive?
If your account remains inactive for 30 consecutive days, it will be terminated, and you will not receive a refund or profit.
What is the maximum capital allowed by SPT?
Each trader is allowed to manage a maximum capital of $400,000.
Can I trade the news?
Yes, you are allowed to trade the news at all stages.
Trading the news always carries significant risks, and you will be responsible for any violations.
Can I hold trades overnight and over the weekend?
SPT has no restrictions on holding trades overnight or over the weekend.
Can I trade with EAs?
Yes, you can trade with EAs.
However, you are not allowed to use EAs to exploit the demo environment. SPT prohibits the following trading methods:
- HFT (High-Frequency Trading)
- Martingale
- Grid Trading
- Latency Arbitrage
Can I trade with Hedging?
SPT recently allowed hedging. You are only allowed to hedge within the same account.
Can I copy trades?
Yes, you can copy trades as long as they are from your own account.
Which broker does SPT use?
Eightcap is used by SPT to provide liquidity for traders.
Which trading platforms can I use?
You can use the MT4 or MT5 platforms.
Can I switch trading platforms from MT4 to MT5 or vice versa?
Yes, if you are not satisfied with the current trading platform, you can request a change after completing the current challenge round if you are in the evaluation stage, or after each payment cycle if you are in the funded stage.
What is the leverage of SPT accounts?
The leverage is as follows:
- Forex: 1:100
- Metals & Indices: 1:20
- Crypto: 1:2
What are the commission fees and spreads?
The commission fee is $6 per lot for Forex, and $0 for Commodities and Indices.
What payment methods can I use to pay the fees for SPT?
You can pay the fees for participating in the funded challenge for SPT using the following methods:
- Credit/Debit card through Stripe and Payscout
- Crypto through Coinbase
Which broker does Smart Prop Trader use?
Smart Prop Trader does not trade with any popular broker brands. They collaborate with a tier 1 liquidity provider to offer the best simulated real market trading conditions.
As for the trading platform, when you work with Smart Prop Trader , they allow you to trade on DXtrade , cTrader or Match-Trader
What products am I allowed to trade?
Transaction fees
Reviews On Trustpilot
On Trustpilot , Smart Prop Trader There are a lot of comments and provide positive feedback about the company's services. The company achieved an impressive rating of 4.7/5 from a large group of 2,546 reviews. Notably, 90% of these reviews awarded Smart Prop Trader the highest rating of 5 stars.
Social media statistics
Smart Prop Trader can also be found on many social media platforms
IV.Account opening process
Conclude
In summary, Smart Prop Trader is a reputable and trustworthy exclusive trading company that offers traders the opportunity to choose between two funding programs, Standard and Pro, both of which are 2 step reviews.
1.Standard assessment program:
- Process: Complete two stages before qualifying to manage a funded account.
- Profit target: 7% phase one, 5% phase two.
- Risk rules: Maximum loss 4% daily and 8% total.
- Time limits: No minimum or maximum trading days required.
- Profit sharing: 75% to 95% with payout period of 12 days.
- Benefits: Scale expansion plan, increase initial account balance
2.Pro Review Program:
- Process: Complete two stages before qualifying to manage a funded account.
- Profit target: 8% phase one, 5% phase two.
- Risk rules: Maximum loss 5% daily and 12% total (Scalable up to 28%)
- Time limits: No minimum or maximum trading days required.
- Profit sharing: 75% to 95% with payout period of 12 days
- Benefits: Scale expansion plan, increase initial account balance
Outstanding features of Smart Prop Trader:
- Unlimited trading time.
- No minimum trading days required.
- Payout period is 12 days, Maximum loss 12% total (Can be expanded up to 28%)
- Profit sharing up to 95%.
What is your personal opinion about Smart Prop Trader and the services they provide? Do they suit the trading conditions and services you are looking for?
Prop Firm Channel
Let us know if you liked our detailed Smart Prop Trader review by commenting below!
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CONTACT US
If you have any questions or concerns, please contact us via the following information:
- Email address: tradequyofficial@gmail.com
- Điện thoại: +84925.012.777 - +8429.9999.3333
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