Join Our Cheap Prop Fund Challenge | Smart Prop Trader (2024)

FAQs

How long does it take for smartprop trader to payout? ›

The payout can be processed just after 12 days, but you also have the ability to choose your own Virtual Profit Split Day, which can be even changed up to three times.

Members of The Funded Trader are able to have a maximum of simulated Funds $1.2M in active challenge accounts and a maximum of $600k in active simulated funding accounts. For clarification, these maximum limits mean that you are only able to trade up to $600k in active simulated funded accounts at any given time.

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.

Duration To Become A Smart Prop Trader | Smart Prop Trader Help Center. You have unlimited days during Phase 1 and during Phase 2. Additionally, there is a 30 day inactivity rule whereby traders must complete at least 1 trade within a 30 day period to avoid their account being breached due to inactivity.

Make the Smart Choice with us today! As a prop firm with no time limits, you have absolutely unlimited time to pass the verification phases as well as your fully funded trading account.

According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.

In conclusion, the time taken to get funded by FTMO depends on various factors such as your trading strategy, risk management skills, and market conditions. On average, it can take anywhere from 2-4 weeks from the start of the FTMO Challenge to receiving funding.

With prop firms, you buy a challenge for $500, and you're able to pass it. You will then be funded with $100,000 with a maximum loss of 12% or $12,000. With proper risk, you can make even the $500 back in a flash.

Which prop firm offers instant funding? ›

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.

Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this "challenge." If you lose money during this evaluation, you won't owe anything beyond the initial fee.

Prop traders can operate under their own rules-based system using the fund's capital, not money from outside investors. Prop traders also get to keep a large portion of their profits, which brings up the next primary perk: compensation. Prop traders often get a base salary, a cut of the profits and performance bonuses.

You're really probably going to need closer to 4,000 or $5,000 in order to make that $100 a day consistently. And ultimately it's going to be a couple of trades a week where you total $500 a week, so it's going to take a little bit more work. Want to learn more about trading?

Smart Prop Trader has announced its intention to migrate to several new brokers and will also integrate cTrader trading platform.

Many people put in multiple years before breaking into consistent (or even any) profitability. It takes at least a year to consistently make money from day trading or swing trading, if working at it full-time or with a mentor, and only working one (maybe two) strategies.

Withdrawals. Receive an 80% payout at the end of every 14-day period (counted from the first trade after the last approved withdrawal). Receive an 80% payout at the end of every week if purchased with the Weekly Payouts add-on (counted from the first trade after the last approved withdrawal).

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%.

True Forex Funds operates on a bi-weekly payout cycle, ensuring traders receive their earnings every 14 calendar days. We even process withdrawals over the weekend to ensure timely payouts. This cycle commences after your first position is opened on a funded account, and payout notifications will be sent via email.