Smart Prop Trader Review - warning ⚠️ Is Smart Prop Trader Competition Legit?
Smart Prop Trader Review
If you're a trader looking to join a prop firm that offers a fair trading challenge and a fully-funded account, Smart Prop Trader may be worth considering. With its affordable evaluation fees and flexible trading objectives, this prop firm offers a competitive alternative to other prop firms in the industry.
Introduction
Smart Prop Trader is a prop trading firm that aims to provide traders with a fair and transparent trading challenge. The firm offers a comprehensive trading challenge that allows traders to showcase their trading skills and receive funding once they complete the challenge. This Smart Prop Trader Competition review will cover the firm's trading challenge, funded account options, fees, and more.
Smart Prop Trader Competition: How It Works
The Smart Prop Trader Competition consists of three simple steps:
Step 1: Challenge
The challenge is designed to be as straightforward as possible, allowing traders to focus on their trades. Traders have a maximum of 50 days to complete the trading objectives and can advance as soon as they complete the objectives. The firm requires no minimum trading days, giving traders the flexibility to trade at their own pace.
Step 2: Verification
Traders can take up to 100 days to complete the trading objectives and require no minimum trading days to progress to the verification stage. Once traders complete the objectives, they will automatically be upgraded to a fully-funded account.
Step 3: Smart Prop Trader
As a fully-funded Smart Prop Trader, traders can continue to trade consistently and responsibly to qualify for up to a 90% profit split, with accounts scaling up to $2.5 million. The firm offers 1:100 leverage and a 4% maximum daily loss calculated using both equity and balance...
Smart Prop Trader Fees
Smart Prop Trader offers affordable evaluation fees, with accounts ranging from $10,000 to $200,000 available. The firm's evaluation fees are priced competitively, with the $200,000 account being over $100 cheaper than My Forex Funds, one of the cheapest prop firms in the industry.
The Smart Prop Trader Evaluation is split into two phases, with a 7.5% profit target in Phase 1 and a 5% profit target for Phase 2. While the Phase 1 profit target is the lowest in the industry, it is the same difficulty to achieve as the 10% FTMO profit target, as Smart Prop Trader only has a 7.5% maximum drawdown, while FTMO has 10%. This means that both firms have a drawdown to profit target ratio of 1:1.
The evaluation fee is refunded with the first profit split pay-out, like most other prop firms.
FAQs about Smart Prop Trader Competition
Q: What are the trading objectives in the Smart Prop Trader Competition?
A: The trading objectives are designed to test traders' trading skills and strategies. The objectives include achieving a profit target, maintaining a maximum drawdown, and trading within the account's parameters.
Q: Can I use my own trading strategies in the Smart Prop Trader Competition?
A: Yes, Smart Prop Trader allows traders to use their own trading strategies, as long as they meet the trading objectives.
Q: How long does it take to get funded with Smart Prop Trader?
A: Traders can get funded in as little as two days, with no minimum trading days required...