Smart Prop Trader
8 mins read

By: sarvesh

Smart Prop Trader Review: Fastest Payout Prop Firm

Smart Prop Trader Overview

If you're perusing this article, chances are you're contemplating taking on the Smart Prop Trader challenge and seeking an impartial, candid review. Well, you've come to the right place.

It's my primary duty to put these new Prop Firms to the test and unveil the nitty-gritty. So, let's delve into the world of Smart Prop Trader, covering the good, the bad, and the not-so-pretty aspects. To make it easier for you, I'll rate it in four key categories on a scale from 1 to 10.

  1. Challenge: In this section, we'll dissect the rules and regulations.
  2. Company: We'll delve into their support reviews, tenure in the industry, and other pertinent details.
  3. Unique Perks: What sets Smart Prop Trader apart from the crowd?
  4. Trading Conditions: We'll pull up their spreads and compare them with other Prop Firms.

Let's not waste any more time and jump right in.

Based on my observations and feedback from some of our team members who've put Smart Prop Trader to the test, gained funding, and received payouts, I'm inclined to believe that this Prop Firm is on the right track.

I believe it's somewhat flying under the radar currently, but I see the potential for Smart Prop Trader to become a major player in the industry for several compelling reasons. Let's kick things off by examining the first category: their challenge or evaluation process.

Challenge Evaluation

When examining Smart Prop Trader's challenge, we find they offer the Two Step Evaluation accounts ranging from $10,000 to $200,000. Several aspects stand out as particularly appealing:

Two-Step Evaluation

TargetsPhase I- Propfit Target = 7%, Phase II- Profit Target = 5%Phase I- Propfit Target = 7%, Phase II- Profit Target = 5%Phase I- Propfit Target = 7%, Phase II- Profit Target = 5%Phase I- Propfit Target = 7%, Phase II- Profit Target = 5%Phase I- Propfit Target = 7%, Phase II- Profit Target = 5%
Profit Split85/1585/1585/1585/1585/15
Weekend HoldingAllowedAllowedAllowedAllowedAllowed
Minimum Trading Days0 days0 days0 days0 days0 days
Time LimitUnlimitedUnlimitedUnlimitedUnlimitedUnlimited
Daily Starting Drawdown4%4%4%4%4%
Max Drawdown8%8%8%8%8%
Refundable Fee67$167$267$467$867$
  • Unlimited Trading Days: Unlike many Prop Firms, Smart Prop Trader imposes no minimum trading days, allowing for swift progression from phase one to phase two.
  • Trading Leverage (1:100): This offers traders significant leverage for their strategies.
  • Max Daily Loss: Limited to 4%, and the total max loss is capped at 8%.
  • Profit Target for Phase One: A 7% gain to achieve success.

One noteworthy differentiator for Smart Prop Trader is their pricing. As a relatively new entrant in the market, they're aiming to secure their position through competitive pricing. The $100,000 account is offered at $467, which is among the most affordable rates available. Occasionally, they offer discount codes that can bring the cost below $450, making it an attractive deal for a $100,000 account.

Phase two largely retains the same terms, except the profit target drops to 5%. Successful completion of phase two leads to becoming a funded trader. You'll maintain an 8% total max loss and recover your first payout if you pass.

For those looking to start with a smaller account, the pricing is equally enticing. The $200,000 account is available for just $867, while the $10,000 account can be obtained for a mere $67, providing an affordable entry point.

So, evaluating Smart Prop Trader in terms of rules and regulations and pricing, I would give them a solid 8 out of 10. Their pricing is indeed competitive, and their 85/15 profit split is attractive. In the realm of challenge and evaluation, Smart Prop Trader earns a commendable 8 out of 10.

Company Assessment

Moving on to the second category, let's evaluate the company behind Smart Prop Trader. This category encompasses customer support reviews, brand trustworthiness, and payout proof. Starting with their customer support, it's an area that could benefit from some improvement.

Smart Prop Trader claims to offer live chat support on their website, but in practice, it appears inconsistent. Despite their stated availability from 8 a.m. to 5 p.m. Eastern time, you might not always find live chat support when you need it. I recently visited their website, and it was still absent. However, they do provide an alternative in the form of a Discord channel for communication. While not as convenient as having live chat directly on their website, Discord can be a helpful way to reach out to their team.

Overall, the customer support provided by Smart Prop Trader falls within the average range. Some other Prop Firms offer more accessible live chat support, providing a better customer experience.

TrustPilot Reviews

Let's shift our focus to evaluating Smart Prop Trader based on their reviews on TrustPilot. They have accumulated approximately 2,100 reviews with an impressive average rating of 4.8 stars, which is a noteworthy achievement. It's important to note that a small 4% of these reviews are rated at just one star.

Shauna M

SPT….. Great Prop Firm

I did my research on many prop firms and decided to go with SPT!This really helps me be disciplined with my trading…The discord is great!The Customer Service is very helpful!My question was answered immediately and clearly. They addressed all my concerns and followed up with me as well. Thank you Damilola & Christian….Hope to be fully funded soon.. phase 1 down. On to phase 2!


Great Customer Service

The process of getting my Funded account from submitting the Documents was less than half an hour and the responses to my emails was really fast.Thanks to DAMILOLA and STEVE for their fast and seamless support.

Dora Antone

Customer service fast and helpful- I…

Customer service fast and helpful- I dealt with Steve who sent me the credentials for the funded in less than 15 min. Very prompt and always happy to help , waiting on my first withdrawal 😊 so far v impressed

Tony Torres

I just started my prop firm journey with Smart Prop

I just started my prop firm journey in May. Smart Prop is the only firm I've used thus far. The process and speed of their customer service has been excellent! Today I became funded and Racquel was on top of all the details to get my process completed. I even missed a few on the paperwork and she emailed me within minutes to notify me of what I needed to fix. So far, choosing Smart Prop was a great decision!

thando tsiane

Smart Prop Trader is the Best and…

Smart Prop Trader is the Best and cheapest prop firm that has amazing support agents , a Big Thank you to Steve who helped me with getting Verified, Thank you for your patience and understanding. I am now a fully funded Trader💃😊

When assessing various Prop Firms and companies, it's not uncommon to encounter a few dissatisfied individuals who can be somewhat challenging. However, in the grand scheme of things, the sentiment toward this Prop Firm appears predominantly positive. Earning a 4.8-star rating on TrustPilot indicates that Smart Prop Trader has made significant efforts in providing excellent service to their customers.

Brand Trustworthiness

Now, let's assess Smart Prop Trader's brand trustworthiness. One notable aspect is their relatively short time in the business, as they've only been operational for about a year. This isn't necessarily a negative reflection on their performance, but it does contrast with established giants like FTMO. Personally, I tend to favor Prop Firms with a longer track record as they have a proven history to uphold.

On the brighter side, their brand trustworthiness is bolstered by a forward-facing leadership team. Notably, Blake Olson, the CEO of the company, is a visible figure, recognized for his informative YouTube videos and Prop Firm review content. This transparency and accessibility of the owners and leadership team are reassuring. Additionally, it's worth mentioning that they are based in the United States, adding another layer of credibility to their operations.

Payout Proof

Now, let's delve into the crucial aspect of payout proof. Does Smart Prop Trader come through on this front? Fortunately, we have several community members who have successfully received payouts, with some even attaining multiple payouts from the Smart Prop Trader.

From the feedback we've gathered, it's apparent that they are remarkably prompt when it comes to processing payments, typically fulfilling requests within 12 hours. This swift payout process is undoubtedly a significant plus.

So, overall, on a scale of 1 to 10, how does the company fare? Considering all the aspects we've discussed, they seem to be doing quite well. There's room for improvement in their customer support, and their relatively short time in business does influence the overall rating. Nevertheless, I'd give the company a commendable 7 out of 10.

Unique Perks of Smart Prop Trader

Now, let's explore the category of unique perks that set Smart Prop Trader apart. These distinct advantages can significantly influence your trading experience. Here's what stands out:

  1. Competitive Pricing: As mentioned earlier, their pricing is among the most affordable in the industry, making it an attractive choice.
  2. Scaling Plan: Smart Prop Trader offers one of the most impressive scaling plans we've encountered. While it's true that not many traders qualify for such a plan, it's worth noting. To qualify, you need to achieve a consistent 2% profit every month for three months. In return, they'll boost your account balance by 25% every three months and add 2% to your drawdown. The maximum drawdown can be increased gradually, up to 28%, and you can scale your account up to $2.5 million.
  3. Free Demo Account: Surprisingly, Smart Prop Trader offers a free demo account, a feature not commonly found among Prop Firms. This is an excellent opportunity to test their broker, evaluate trading conditions, and get a feel for their platform.
  4. Quick Payouts: Smart Prop Trader differentiates itself by allowing traders to request a payout after just 12 days of trading a funded account, which is faster than many other companies that typically require 14 to 15 days. Furthermore, withdrawal requests are processed promptly, often within 12 hours.

All these unique perks make Smart Prop Trader a strong contender in the world of Prop Firms. I would rate them with a solid 8 out of 10 in terms of the unique benefits they offer.

Trading Conditions

Now, let's dive into the last category – the trading conditions offered by Smart Prop Trader.

First, I've compiled a comparison of spreads for three of the most popular Prop Firms: FTMO, True Forex Funds, and Smart Prop Trader. As you can see, the differences are quite minor. In terms of spreads, all three are relatively close in performance.

For instance, True Forex Funds slightly outperforms the others in some currency pairs. In general, the spreads are quite similar. It's worth noting that these spreads can fluctuate by the second in the ever-changing market environment.

For gold, a pivotal asset for many traders, the spreads are consistent across the board. However, for indices like US30 and US500, Smart Prop Trader exhibits slightly higher spreads compared to True Forex Funds. If you primarily trade indices or Bitcoin, this difference could be a consideration.

Nonetheless, a quick overview of the spreads suggests that they are in line with industry standards. Moving on to commissions, Smart Prop Trader charges $6 per standard lot for Forex trading and imposes no commissions on metals, indices, and cryptocurrencies, which is a favorable feature for traders interested in these assets.

Regarding available asset classes, Smart Prop Trader offers trading options across various Forex pairs, some cryptocurrency options, indices, commodities, and other assets that are typical with most Prop Firms. The maximum leverage is set at 1:100.

Assessing the trading conditions, they appear to be competitive and in line with industry norms, making them comparable to some of the better Prop Firms. In this regard, I would rate them a respectable 8 out of 10.

Overall Score and Conclusion

Now, let's stack up the ratings in each category and arrive at an overall score for Smart Prop Trader. Here's the breakdown:

  • Challenge: Rated 8
  • Company: Rated 7
  • Unique Perks: Rated 8
  • Trading Conditions: Rated 8

With these ratings, we arrive at an overall score of 7.5 for Smart Prop Trader. Here are my concluding thoughts on this Prop Firm:

Smart Prop Trader presents a clean user interface, favorable trading conditions, and a well-structured challenge. They've demonstrated honesty and ethical practices by processing payouts promptly. Overall, this Prop Firm has a lot of potential. It's well worth considering, and I see it as a rising star in the world of Prop Firms in the coming year.

Recent posts

Don't miss the latest trends

    Popular Posts