Exclusive: Prop Trading Firm Smart Prop Trader Shifts to New Brokers, Including cTrader (2024)

FAQs

What is the payout for smart prop firm? ›

Payout System

The default payout ratio for all Smart Prop Trader Traders is set to 85:15, however, an 85% share is not where we draw the line.

The Virtual Profit Split Day can be changed up to 3 times for each withdrawal, anytime between 12 days and 60 days from the start of trading. The payouts are processed within 1-2 business days upon confirming the invoice.

The Forex Funder is among the most popular prop trading firms globally. The UK-based prop firm offers a 1-step and 2-step evaluation process, which allows traders to choose the most suitable one based on their experience and strategy.

Sure, the firm may replicate successful trades of the funded traders on the firm's real account. But, again, those are trades made by the firm itself with its own capital. And in general, prop firms insist that they are not financial institutions and do not provide financial services.

The salary of a prop trader can vary greatly depending on several factors such as experience, performance, and the size of the firm. On average, a junior prop trader can expect to earn anywhere between $50,000 to $100,000 per year, while a senior trader can make upwards of $500,000 annually.

Prop firms are an excellent source of accessing further capital to increase profit potential. Passing a prop firm's evaluation means reaching a profit target while staying within its risk management rules. Prop firms require traders to use their brokers, which can be positive or negative depending on the broker.

At Smart Prop Trader, there is no minimum simulated trading days for both challenge phases! You are able to pass and move to further phases as quickly as you're able to reach the profit goal.

We do not place any limit on the number of virtual trading accounts you can have in the Smart Prop Trader Challenge and Verification.

We also offer our traders an account scaling plan. You may purchase our max allocation of $400,000 each for both 1-phase and 2-phase accounts and scale this up to $2.5 Million with a maximum scalable drawdown up to 28%.

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

What are the negatives of prop firms? ›

FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.

The Volcker Rule is intended to restrict high-risk, speculative trading activity by banks, such as proprietary trading or investing in or sponsoring hedge funds or private equity funds.

How much money do you need to open a prop firm? Starting an online prop firm can cost as little as $10,000, while starting a traditional prop firm can cost up to $1 million.

The maximum payouts of 80% to 90% places Fidelcrest at the top of the list, where only a few prop firms compete. Traders benefit from the most generous trading conditions industry-wide, as Fidelcrest grants 60 days to achieve the 10% profit target, while the maximum drawdown is 20%.

A prop trading firm looks to recruit talented traders and fund them with the company's capital. The funds that a trader makes, is then split between the trader and the company. The profit share is between 50 – 95%, with the trader taking the lion's share.

Our maximum daily loss and maximum overall loss rules are 4% and 8%, respectively. With Smart Prop Trader you can reach a maximum drawdown limit of a whopping 28%.

Agreements typically range from 50/50 to a more favorable 80/20 split after certain thresholds, with some firms offering as much as 90% to the trader.

Smart Drawdown operates in a unique way: once a trader reaches a balance gain of 5% or more, our system will automatically update their drawdown to the -5% of the starting balance, and it will remain at this level.