Independent Guide — No Marketing Fluff
Smart Prop Trader FAQ & Complete Guide
Smart Prop Trader evaluations, drawdown rules, profit splits, payout cycles, restricted strategies, and PickMyTrade automation.
Smart Prop Trader: key facts
Smart Prop Trader appears to have stopped operating, so no current rules are listed. smartproptrader.com 301-redirects to smartprofitfx.com, an unrelated Eightcap account-opening site; third-party press reports closure Dec 29, 2024.
Sources: smartproptrader.com · smartprofitfx.com
Jump to a Section
Smart Prop Trader Basics
What is Smart Prop Trader?
Smart Prop Trader is a proprietary trading firm that provides funded accounts to traders who pass an evaluation. You pay an evaluation fee, reach a profit target without breaking the drawdown rules, and move to a funded account where you keep a share of the profits. The Key facts table above lists Smart Prop Trader's current plans and payout terms.
Is Smart Prop Trader legit?
Always verify independently before purchasing. Check the firm's official documentation. Read the funded trader agreement carefully before paying any evaluation fee. Prop firm rules, fees, and payout policies change frequently.
Are Smart Prop Trader accounts real money or simulated?
Retail prop firm accounts, including those at Smart Prop Trader, typically run on simulated infrastructure that mirrors real market data. Payouts are funded from the firm's evaluation revenue rather than from live market profits. The Key facts table above shows how Smart Prop Trader's funded accounts are structured.
Is Smart Prop Trader regulated?
Prop firms generally operate as technology or contractor companies rather than regulated broker-dealers or FCMs, so they are typically not registered with the SEC, CFTC, FINRA, or FCA. The relationship is governed by the trader agreement, not by securities regulation. Read {name}'s agreement for its exact legal terms before paying.
Account Types
What evaluation models does Smart Prop Trader offer?
Smart Prop Trader offers evaluation programs in which you reach a profit target while staying inside drawdown limits. Each model differs in account size, target, and drawdown type. The Key facts table above shows which models Smart Prop Trader offers right now.
What is the difference between the evaluation and funded account at Smart Prop Trader?
The evaluation is the test phase where you must hit a profit target without breaching drawdown rules. The funded account is the phase you graduate into after passing, where you can request payouts based on your trading performance. Rules, drawdown types, and payout mechanics often differ between the two phases.
Does Smart Prop Trader offer instant funding?
Some prop firms sell instant funding alongside standard evaluations: you skip the profit-target phase, usually pay more, and often get stricter drawdown or payout terms. Whether Smart Prop Trader offers it is covered in the Key facts table above.
Can I run multiple funded accounts at Smart Prop Trader?
Running several funded accounts at once is common, often with a per-person cap. Firms usually restrict hedging between accounts and copying trades across them in ways that look like one position split up. The Key facts table above shows the account limit for Smart Prop Trader.
Plans & Pricing
What account sizes does Smart Prop Trader offer?
Prop firms sell evaluations in several account sizes, from small starter accounts to large ones, and the fee rises with size. Promotional discounts can change the price a lot. See the Key facts table above for Smart Prop Trader's sizes and fees and the date they were checked.
Does Smart Prop Trader charge monthly fees or one-time fees?
Evaluation pricing follows one of two models: a recurring monthly subscription until you pass, or a one-time fee per attempt. The model affects total cost if you need several attempts. The Key facts table above states which one Smart Prop Trader uses.
Does Smart Prop Trader offer discount codes?
Prop firms often run recurring promotions around holidays and product launches, usually through promo codes or newsletters. Codes change quickly, so a code from an aggregator may already be expired. Compare Smart Prop Trader's discounted price with the standard fee in the Key facts table above.
Profit Targets
What are the profit targets on Smart Prop Trader evaluations?
The profit target is the amount you must earn in an evaluation to pass, set as a percentage of the starting balance (commonly 6-10%). A bigger account means a bigger dollar target. Smart Prop Trader's targets per plan are in the Key facts table above.
Do profit targets exist on funded accounts at Smart Prop Trader?
Many prop firms drop the profit target once you are funded and focus on drawdown limits and payout eligibility, such as minimum profit and number of winning days. So the goal shifts from hitting a target to staying consistent. Smart Prop Trader's funded-phase terms are summarised above.
Does Smart Prop Trader evaluate on closing balance or floating equity?
Profit targets are usually measured on closed (realized) P&L, not floating equity, so you must close positions for gains to count toward the target. An open winning trade alone will not pass the evaluation. Confirm Smart Prop Trader's measurement basis in the Key facts table above.
Drawdowns: Trailing & Daily
What type of drawdown does Smart Prop Trader use?
A drawdown limit caps how much you can lose. The main types are trailing drawdown (the floor rises with your profits), static maximum drawdown (a fixed floor from the starting balance), and a daily loss limit. See the Key facts table above for Smart Prop Trader's type and amounts.
Does the drawdown at Smart Prop Trader apply to unrealized (floating) P&L?
Drawdown is measured either on equity (including open positions) or on balance (closed trades only). Intraday trailing drawdowns follow unrealized P&L tick by tick, while end-of-day drawdowns update only at session close. Which basis Smart Prop Trader uses is shown in the Key facts table above.
What happens when I breach the drawdown at Smart Prop Trader?
Breaching the drawdown limit normally liquidates open positions and closes the account. In an evaluation you must buy a new one or pay for a reset, if the firm offers resets. The Key facts table above notes Smart Prop Trader's breach consequences.
What is a daily loss limit (DLL) at Smart Prop Trader?
A daily loss limit (DLL) caps your loss within one trading day. Breaching it usually suspends trading until the next session instead of closing the account, though some firms treat it as a full breach. Smart Prop Trader's DLL amounts are in the Key facts table above.
Consistency Rule
Does Smart Prop Trader have a consistency rule?
Many prop firms enforce a consistency rule that limits how much of your total profit can come from a single trading day — typically expressed as a maximum percentage (e.g., 30–50%). This prevents traders from qualifying via one large lucky trade. Check whether Smart Prop Trader enforces this rule and the exact threshold.
Does violating the consistency rule fail my account at Smart Prop Trader?
Typically, violating the consistency rule blocks a payout request rather than failing the account. You would need to trade additional smaller-profit days to bring your best-day percentage back under the threshold before requesting a payout. Confirm Smart Prop Trader's exact policy.
Does the consistency rule reset after a payout at Smart Prop Trader?
The consistency clock usually resets after each approved payout, so the next payout cycle starts from zero and earlier big days no longer count against you. Whether this applies to Smart Prop Trader is stated in the Key facts table above.
Trading Days, Hours & Holidays
Does Smart Prop Trader require a minimum number of trading days?
Many prop firms require a minimum number of qualifying trading days before a payout. A qualifying day usually means you traded and made at least a set minimum profit that day. The exact count and threshold for Smart Prop Trader are in the Key facts table above.
Can I trade news events at Smart Prop Trader?
Some prop firms restrict trading around high-impact news such as NFP or FOMC, for example by blocking entries for a few minutes either side. Others allow it freely. The news-trading rule for Smart Prop Trader is listed in the Key facts table above.
Can I hold positions overnight at Smart Prop Trader?
Overnight rules differ by firm and account type. Futures-focused firms often require all positions flat before the daily close, while others allow swing trades held overnight or over weekends. Check the Key facts table above for Smart Prop Trader's policy.
Instruments & Markets
What instruments can I trade at Smart Prop Trader?
Prop firms offer different markets depending on focus: forex pairs, futures, indices, commodities, or a mix. Futures firms trade CME products like ES and NQ, while forex firms use MT4/MT5 symbols. Smart Prop Trader's tradable instruments are in the Key facts table above.
What are the contract/lot size limits at Smart Prop Trader?
Prop firms cap position size to manage risk, usually as a maximum number of contracts (futures) or lots (forex), scaled to account size. Exceeding it can trigger a rule breach. See the Key facts table above for Smart Prop Trader's limits per account size.
Automation & EAs
Does Smart Prop Trader allow automated trading / EAs?
Algorithmic trading and Expert Advisors (EAs) are allowed at many prop firms, but strategies like HFT, latency arbitrage, and tick scalping are commonly restricted. The permitted scope is set in the trader agreement. Smart Prop Trader's automation stance is summarised in the Key facts table above.
Can I automate Smart Prop Trader with TradingView via PickMyTrade?
PickMyTrade bridges TradingView alerts to your broker account connected to Smart Prop Trader. When your TradingView strategy triggers, PickMyTrade receives the webhook and executes the trade on your broker within ~200ms — no coding required. Set up takes about 5 minutes. Try it free at app.pickmytrade.io.
Does Smart Prop Trader allow copy trading?
Copy trading rules differ. Many firms allow copying your own trades across your own accounts but ban copying from external sources or signal providers, and some ban it altogether. Confirm Smart Prop Trader's policy in the Key facts table above before setting up any copier.
How do I use PickMyTrade's trading time controls with Smart Prop Trader?
PickMyTrade's Trading Time Settings let you define sessions that automatically close all open positions and cancel orders when the session ends — keeping you flat before broker cutoffs. You can define multiple trading sessions, apply settings per account, and combine with news-aware controls. Full guide: docs.pickmytrade.trade.
Platforms
What trading platforms does Smart Prop Trader support?
Smart Prop Trader supports one or more trading platforms depending on the asset class. Common platforms include Tradovate, Rithmic/NinjaTrader (futures), MetaTrader 4/5, cTrader, DXTrade, and TradeLocker (forex/CFD). Check their official site for the current list of supported platforms.
Can I use Smart Prop Trader on Mac?
Mac compatibility depends on which platforms Smart Prop Trader supports. Web-based platforms work on any OS. Native applications like NinjaTrader are Windows-only (Mac users typically use Parallels). Check whether Smart Prop Trader's supported platforms offer Mac-native clients or web alternatives.
Can I trade Smart Prop Trader on mobile?
Mobile availability depends on Smart Prop Trader's supported platforms. Many platforms (Tradovate, MetaTrader) have iOS and Android apps. Mobile is generally suitable for monitoring and emergency exits but most traders use desktop for active trading.
PickMyTrade Webhook Setup
How do I connect TradingView to Smart Prop Trader via PickMyTrade?
Setup takes about 5 minutes: (1) Create a PickMyTrade account at app.pickmytrade.io. (2) Connect your broker account (the one linked to your Smart Prop Trader evaluation or funded account). (3) Configure your strategy settings — instrument, order size, direction. (4) Click "Generate Alert" to get the JSON payload and webhook URL. (5) Paste both into your TradingView alert. Done — your TradingView signals will now fire trades on your Smart Prop Trader account within ~200ms.
How much does PMT cost on top of Smart Prop Trader fees?
$50/month per broker connection. PickMyTrade supports unlimited accounts under the same broker login with a single subscription. If you have accounts under different broker logins, each login requires its own subscription. There is a 7-day free trial, no card required — start at pickmytrade.io.
What TradingView plan do I need for PickMyTrade?
TradingView's webhook feature requires a paid plan — Essential ($12.95/month) or higher. The free TradingView plan does not support webhooks. Once you have a paid TradingView plan, webhooks are unlimited.
Does PickMyTrade require coding?
No coding required. PickMyTrade auto-generates the alert JSON for you. You paste the generated JSON and webhook URL into TradingView — no programming knowledge needed. PickMyTrade also supports custom JSON for advanced users who want fine-grained control.
How fast does PickMyTrade execute trades on Smart Prop Trader?
PickMyTrade processes webhooks and submits orders to your broker in approximately 200 milliseconds from when TradingView fires the alert. This is suitable for most strategy types. High-frequency or pure tick-scalping strategies should evaluate whether webhook latency is acceptable for their edge.
Payouts
What is the profit split at Smart Prop Trader?
The profit split is the percentage of funded-account profit you keep. Splits typically range from 70% to 100% and can rise with scaling tiers or payout count. Smart Prop Trader's split is shown in the Key facts table above.
How often can I request payouts at Smart Prop Trader?
Payout frequency depends on the firm: some allow on-demand withdrawals once you are eligible, others pay weekly, biweekly, or monthly, usually after a minimum profit threshold. See the Key facts table above for Smart Prop Trader's payout cadence and minimums.
How does Smart Prop Trader pay out — bank transfer or other methods?
Prop firms pay out through bank wire, ACH, PayPal, or platforms such as Deel, Rise, or Tipalti, and availability depends on your country. Processing times range from hours to several business days. Smart Prop Trader's supported methods are listed in the Key facts table above.
Is Smart Prop Trader income taxable?
Yes — prop firm payouts are generally taxable income in most jurisdictions. In the US, payouts are typically self-employment income reported on Schedule C, subject to income tax and self-employment tax. Consult a licensed tax professional familiar with trading income for guidance specific to your situation.
Does Smart Prop Trader scale funded accounts?
Scaling programs raise your funded balance after you show consistent profit, typically by hitting profit milestones within set drawdown rules. They can also change your profit split. The Key facts table above notes whether Smart Prop Trader offers scaling.