Smart Prop Trader
Closed
Reviewed by PropFirm201 Research Team·At a Glance
Smart Prop Trader Homepage
Pricing & Challenge Types
Standard Challenge
2 phases · 75% profit split · Scaling available
| Account Size | Price | Target P1 | Target P2 | Daily Loss | Max DD |
|---|---|---|---|---|---|
| $5,000 | $57 | 7% | 5% | 4% | 8% |
| $10,000 | $97 | 7% | 5% | 4% | 8% |
| $25,000 | $197 | 7% | 5% | 4% | 8% |
| $50,000 | $297 | 7% | 5% | 4% | 8% |
| $100,000 | $497 | 7% | 5% | 4% | 8% |
Pro Challenge
2 phases · 75% profit split · Scaling available
| Account Size | Price | Target P1 | Target P2 | Daily Loss | Max DD |
|---|---|---|---|---|---|
| $5,000 | $67 | 8% | 5% | 5% | 12% |
| $10,000 | $117 | 8% | 5% | 5% | 12% |
| $25,000 | $237 | 8% | 5% | 5% | 12% |
| $50,000 | $357 | 8% | 5% | 5% | 12% |
Smart Prop Trader Plans Page
Pros & Cons
Pros
- Very competitive pricing with no trade commissions
- Profit split scaled up to 95% for consistent traders
- No minimum trading days required for either phase
- Pro Challenge offered generous 12% maximum drawdown
- 25% account balance increase every 3 months for consistent profitability
- Zero payment processing fees on payouts
Cons
- Firm ceased all operations in December 2024
- No longer accepting new traders
- Limited account sizes capping at $100,000 for Standard
- Pro Challenge only available up to $50,000
- Email-only customer support with no live chat
Trading Rules
About Smart Prop Trader
Smart Prop Trader was a proprietary trading firm founded in 2022 by Blake Olson, headquartered at 5830 E. 2nd Street, Casper, WY 82609, United States. The firm ceased all operations on December 29, 2024, making it one of over 50 prop trading firms that shut down during that turbulent year for the industry.
During its approximately two years of operation, Smart Prop Trader built a strong reputation for offering affordable, trader-friendly funded accounts with competitive profit splits and zero trade commissions. The firm earned a 4.4 out of 5 Trustpilot rating from over 2,531 reviews, with 87% of reviewers giving 5 stars, indicating high trader satisfaction during its operational period.
Smart Prop Trader offered funded accounts from $5,000 to $100,000 through two challenge types: the Standard Challenge and the Pro Challenge. Both were two-phase evaluations with no minimum trading day requirements, allowing skilled traders to pass quickly. The firm stood out for its clean pricing model with no hidden fees, no trade commissions, and no payment processing charges on payouts.
The closure was announced on November 27, 2024, with the firm ceasing to onboard new traders immediately. Existing traders were given until December 29, 2024, to complete their activities. Account holders at break-even or above qualified for full refunds, and accounts in good standing received individual resolution plans. No controversy was linked to the closure; there were no allegations of scams, liquidity issues, or regulatory sanctions. The founder hinted at a potential return with new products, though no specific details have been disclosed as of 2026.
Smart Prop Trader's website now redirects to FXNity, though the relationship between the two entities is not fully clear.
How Smart Prop Trader Works
Smart Prop Trader offered two challenge types, both following a two-phase evaluation structure:
-
Standard Challenge: Phase 1 required a 7% profit target within 50 calendar days. Phase 2 required 5% within 100 calendar days. The maximum daily loss was 4% and the total drawdown limit was 8%. There were no minimum trading day requirements.
-
Pro Challenge: Phase 1 required an 8% profit target within 50 calendar days. Phase 2 required 5% within 100 calendar days. The Pro version offered a more generous 5% daily loss limit and 12% total drawdown, giving traders more room to manage risk.
Upon passing either challenge, traders received a funded account with a starting profit split of 75:25. This ratio scaled up to 95:5 based on consistent profitable trading. Additionally, traders who demonstrated consistent profitability over 3-month periods received a 25% increase in their original account balance as part of the scaling plan.
Pricing & Plans
Smart Prop Trader was known for its straightforward, affordable pricing:
Standard Challenge:
- $5,000 account: $57
- $10,000 account: $97
- $25,000 account: $197
- $50,000 account: $297
- $100,000 account: $497
Pro Challenge:
- $5,000 account: $67
- $10,000 account: $117
- $25,000 account: $237
- $50,000 account: $357
All fees were refundable upon successfully passing the challenge and receiving a funded account. The firm charged zero trade commissions and zero payment processing fees, making the total cost of participation fully transparent.
Rules & Restrictions
- Daily Drawdown: 4% (Standard) or 5% (Pro)
- Maximum Total Drawdown: 8% (Standard) or 12% (Pro)
- Minimum Trading Days: None for both phases
- Maximum Trading Days: 50 calendar days (Phase 1), 100 calendar days (Phase 2)
- News Trading: Allowed
- Weekend Holding: Allowed
- Expert Advisors: Allowed
- Scalping: Allowed
- Hedging: Allowed
- No trade commissions
- No payment processing fees
Payouts
Payouts were processed bi-weekly after the initial 4-week period. Following the first payout, the frequency shifted to every 2 weeks. The profit split started at 75% and scaled up to 95% based on consistent performance. Payout methods included cryptocurrency and bank transfers with zero processing fees charged by the firm.
Is Smart Prop Trader Legit?
Smart Prop Trader was a legitimate prop trading firm during its operational period from 2022 to December 2024. The firm maintained a strong 4.4 out of 5 Trustpilot rating from 2,531 reviews. Its founder, Blake Olson, was a recognized member of the Forbes Council. The closure in December 2024 was handled transparently, with proper notice given to traders, refund policies honored, and individual resolution plans provided for accounts in good standing. No fraud, scams, or regulatory issues were associated with the closure. The firm was among over 50 prop trading companies that shut down in 2024, largely due to broader industry challenges. As of April 2026, the firm remains closed, and no confirmed relaunch date has been announced.
FAQ
What is Smart Prop Trader?
Smart Prop Trader was a US-based proprietary trading firm founded in 2022 that offered funded trading accounts from $5,000 to $100,000 through two-phase evaluations. The firm ceased operations in December 2024.
How much does Smart Prop Trader cost?
Smart Prop Trader is no longer operational. When active, pricing started at $57 for a $5,000 Standard Challenge account and went up to $497 for a $100,000 account. The Pro Challenge ranged from $67 to $357. All fees were refundable upon passing.
What is Smart Prop Trader's profit split?
When operational, Smart Prop Trader offered a starting profit split of 75% that scaled up to 95% based on consistent profitable trading.
Does Smart Prop Trader allow EAs/bots?
When operational, Smart Prop Trader allowed the use of Expert Advisors and automated trading strategies.
Is Smart Prop Trader available in the US?
Smart Prop Trader was headquartered in Wyoming, USA and was available to US traders. However, the firm ceased all operations in December 2024 and is no longer accepting new traders.