Smart Prop Trader affords traders with 2 avenues for completing our challenges: Standard and Pro. This article will review the distinctions between the 2 challenge option for the purpose of allowing Traders to make an educated decision on which challenge would be the most beneficial to them on their trading journey.
Standard Challenge Information:
| $5,000 | $10,000 | $25,000 | $50,000 | $100,000 |
Phase 1 Profit Target | (7%) $350 | (7%) $700 | (7%) $1,750
| (7%) $3,500 | (7%) $7,000 |
Phase 2 Profit Target | (5%) $250 | (5%) $500 | (5%) $1,250 | (5%) $2,500 | (5%) $5,000 |
Virtual Daily Loss Limit | (4%) $200 | (4%) $400 | (4%) $1,000 | (4%) $2,000 | (4%) $4,000 |
Virtual Maximum Loss Limit | (8%) $400 | (8%) $800 | (8%) $2,000 | (8%) $4,000 | (8%) $8,000 |
Drawdown Type | Static |
Minimum Trading Days | 0 days |
Profit Split | Starting at 75%, Scaling up to 95% |
Leverage | up to 1:30 |
Max Capital Allocation | $400K (available capital for all standard challenges) |
Payout Request Time (for each account) |
First Payout: Four weeks from close of first trade Subsequent Payouts: Two weeks from close of first trade |
Pro Challenge Information:
| $5,000 | $10,000 | $25,000 | $50,000 |
Phase 1 Profit Target | (8%) $400 | (8%) $800 | (8%) $2,000
| (8%) $4,000 |
Phase 2 Profit Target | (5%) $250 | (5%) $500 | (5%) $1,250 | (5%) $2,500 |
Virtual Daily Loss Limit | (5%) $250 | (5%) $500 | (5%) $1,250 | (5%) $2,500 |
Virtual Maximum Loss Limit | (12%) $600 | (12%) $1,200 | (12%) $3,000 | (12%) $6,000 |
Drawdown Type | Static |
Minimum Trading Days | 0 days for challenges; 7 minimum days for Funded accounts |
Profit Split | Starting at 75%, Scaling up to 95% |
Leverage | up to 1:30 |
Max Capital Allocation | $400K (available capital for all pro challenges) |
Payout Request Time (for each account) |
First Payout: Four weeks from close of first trade Subsequent Payouts: Two weeks from close of first trade |
Key Differences Between Standard & Pro Challenges:
Profit Target Differences:
Whereas our Standard challenges have profit targets of 7% for Phase 1 and 5% for Phase 2, our Pro challenges have profit targets of 8% for Phase 1 and 5% for Phase 2.
Drawdown Differences:
Whereas our Standard challenges have a daily drawdown of 4% and a maximum drawdown of 8%, our Pro challenges have a daily drawdown of 5% and a maximum drawdown of 12%.
Minimum Trading Day Differences:
Whereas our Standard challenges have minimum trading days set at 0 days for both Challenge and Funded account types, our Pro challenges have a minimum of 0 trading days for Challenge account types and a minimum of 7 tradings for Funded account types.
Smart Prop Trader believes traders should have a trading journey that is customized to their skill set, which is why we offer traders the optionality of choosing between Standard challenges and Pro challenges. Both challenges offer their unique advantages for traders throughout their trading journey. It's important for traders to choose a challenge that works best with their skill set. If you have any additional questions about the available plans, please reach out to our Customer Success team via Live Chat using this link. We are available 24/7 to support you on your trading journey.