Lowest Spread Prop Firm - Smart Prop Trader (2024)

FAQs

Lowest Spread Prop Firm - Smart Prop Trader? ›

Smart Prop Trader

Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.

However, we have a maximum virtual capital allocation of $400,000 (on Normal risk setup, prior to scaling) per trader or strategy, at any given time (or $200,000 for the Aggressive risk setup) for any Smart Prop Trader Virtual Account which is connected to our Proprietary Trading Firm.

FXIFY leads the charge by offering zero commission fees, E8 Funding and My Funded FX follow closely, offering low commission rates. The Funded Trader and Forex Capital Funds, with their slightly higher commission rates, still present compelling options for traders.

FTMO 's top competitors in June 2024 are: FunderPro, the5ers and more. FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

Topstep is that firm. During their 10 years in the prop trading business, Topstep has become a trader favorite for a number of good reasons. They fund thousands of traders and pay out millions of dollars in trading profits every month.

It is estimated that only 4% of Forex traders succeed with prop firm challenges, and only 1% of traders can generate profits consistently without violating any rules.

Prop Firm Trader Salary

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.

How many people fail prop firms? ›

According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time. While this result is not nearly as bad as the one discussed earlier, it still looks bleak for prospective prop traders. But why is the percentage of failure so high?

Smart Prop Trader allows EA's. However, we do not allow any EA that takes advantage of a demo environment. We do not allow HFT, Martingale, Grid Trading, or Latency Arbitrage strategies in any form.

The maximum total drawdown is 8%. Therefore, the equity of the account must not fall below 92% of the initial account balance both for open and closed positions, including commissions and swaps. Please note that customers are unable to utilize their total available drawdown during a single day of trading.

Also known as “prop trading,” it offers higher earnings potential much earlier in your career than jobs like investment banking or private equity. It's arguably the most merit-based industry within finance: if you make millions of dollars for your firm, you'll earn some percentage of it.

In most cases though one can expect to pay a flat monthly fee, set up fee and in some cases a fee per account. Once again, each software provider varies with their pricing with some only charging per demo. As a general rule one should expect to pay at least $50,000 to operate a prop firm for one year.

You can win free accounts by completing simple tasks, such as following, liking, subscribing, or referring others. In conclusion, you can get a free funded account by simply entering trading competitions, or participating in giveaways.

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.

The percentage of profits that a prop firm takes can vary, but it is usually somewhere between 10-50%. So, for example, if a trader makes $10,000 in profits, the prop firm might take a 30% cut, leaving the trader with $7,000.