(Last Updated On: October 29, 2023)
Smart Prop Trader is a prominent prop firm that offers aspiring traders the opportunity to trade with significant capital and enjoy various benefits. Founded in March 2023 by CEO Blake, the firm has quickly gained recognition in the trading industry. In this article, we will provide a comprehensive overview of Smart Prop Trader, including its funding details, scaling plan, trading conditions, and other essential information.
overview of Smart prop trader
1. Introduction
Smart Prop Trader is a prop trading firm that allows traders to access substantial capital and trade in the financial markets. By joining the firm, traders can benefit from the firm’s resources, support, and attractive profit-sharing arrangements. Smart Prop Trader empowers traders to pursue their trading ambitions with enhanced financial backing and a supportive community.
2. Instant Funding Details
To kickstart your trading journey with Smart Prop Trader, the firm offers instant funding to eligible traders. The maximum allocation for initial funding is $400,000, providing traders with a significant amount of capital to engage in the markets. With this level of funding, traders can explore various strategies and seize profitable opportunities.
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3. Scaling Plan
Smart Prop Trader introduces a unique scaling plan for its traders. If traders meet specific conditions outlined in the plan, their account balance is increased by 25% every three months. Additionally, the profit split ratio also changes to an impressive 90/10, favoring the trader even more. Traders have the option to retain their profit split to grow their balance and drawdown buffer. Under the scaling plan, the Smart Prop Trader account can scale up to $2,500,000, with a gradual increase in the maximum drawdown up to 28% every three months.
4. Trading Conditions
Smart Prop Trader offers favorable trading conditions to its traders. While high-frequency trading (HFT) is not allowed, traders have the flexibility to engage in hedging and utilize expert advisors (EAs) for their trading strategies. These features enable traders to implement various trading techniques and take advantage of market opportunities.
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5. Payout System
Smart Prop Trader ensures a transparent and flexible payout system for its traders. By default, the profit split ratio is set at 80/20. However, if traders meet the conditions of the scaling plan, their account balance increases by 25%, and the profit split ratio automatically changes to an impressive 90/10. Traders can request payouts on demand, with processing available after 14 days. Moreover, traders can select their preferred profit split day, providing them the flexibility to align their payout schedule with their personal preferences.
6. Payment Methods
Smart Prop Trader offers convenient payment methods for traders. The firm accepts debit/credit card payments through the Stripe and Payscout platforms. Additionally, traders can also use cryptocurrencies for payments, facilitated by the Coinbase platform. This diverse range of payment options ensures a seamless and secure transaction process for traders.
7. Overnight Trading
Smart Prop Trader does not impose restrictions on overnight trading or holding positions over weekends. Traders are free to hold their positions as they see fit, allowing them to take advantage of longer-term trading strategies and market movements.
8. Scaling Plan
The SPT Scaling Plan is a unique feature offered by Smart Prop Trader. Under this plan, traders can experience significant growth in their trading account and profit split ratio. To qualify for the scaling plan, traders need to earn a minimum of 2% profit each month for three consecutive months. If these conditions are met, their account balance increases by 25% every three months, and the profit split ratio changes to an impressive 90/10. This scaling plan provides traders with the opportunity to exponentially grow their trading capital and enhance their profitability over time.
9. Capital Allocation
Smart Prop Trader offers different account sizes to cater to traders with varying trading ambitions. The available account sizes include 10K, 25K, 50K, 100K, and 200K. Traders can choose the appropriate account size based on their preferences and trading goals. The maximum funded capital per trader is set at $400,000, providing ample resources to pursue profitable trading opportunities. Additionally, successful and stable traders have the potential to increase their account balance according to the scaling plan, with a maximum scaling limit of $2,500,000.
10. Office Location and Contact Information
Smart Prop Trader’s office is located at 30 N Gould ST Ste N, Sheridan, WY 82801. Traders can contact the firm by filling out the contact form on their website, sending an email at support@smarptoptrader.com , or utilizing their Discord channel. These communication channels ensure easy access to customer support and assistance whenever needed.
11. Conclusion
Smart Prop Trader is a leading prop trading firm that offers traders the opportunity to trade with substantial capital and benefit from attractive profit-sharing arrangements. With instant funding, a scaling plan, favorable trading conditions, and a flexible payout system, Smart Prop Trader empowers traders to pursue their trading aspirations and achieve financial success in the markets. By providing access to significant capital and supportive resources, Smart Prop Trader sets traders on the path to profitability and growth.
FAQs
1. What are the payment methods available for Smart Prop Trader Challenge?
Traders can pay for the Smart Prop Trader Challenge using debit/credit cards through the Stripe and Payscout platforms. Cryptocurrency payments are also accepted through the Coinbase platform.
2. Is there a minimum profit requirement to request a profit split?
Yes, there is a minimum profit requirement of $100 to request a profit split.
3. Are there any restrictions on holding positions overnight or over the weekend?
No, Smart Prop Trader does not impose any restrictions on holding positions overnight or over the weekend. Traders are free to hold their positions as they see fit.
4. How does the Smart Prop Trader Scaling Plan work?
Under the Smart Prop Trader Scaling Plan, traders who meet specific conditions can experience a 25% increase in their account balance every three months. The profit split ratio also changes to 90/10. The scaling plan allows traders to grow their account balance and profitability over time.
5. What is the maximum funded capital per trader?
The maximum funded capital per trader is $400,000. However, successful traders who meet the conditions of the scaling plan can scale their account balance up to $2,500,000.
