Payouts | Smart Prop Trader (2024)

FAQs

How many people actually pass prop firm challenges? ›

The article from Lux Trading Firm provides slightly different results. 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.

One of the most crucial aspects of passing a prop firm challenge is having a well-defined trading strategy. A trading strategy is a set of rules that guide your decision-making process in the market. It includes entry and exit criteria, risk management rules, and trade management techniques.

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.

To pass the Trading Combine, your best day (most significant winning day) must be no greater than 50% of your profit target. If your best day equals or exceeds 50% of your profit target, you'll need to continue trading until your best day % of total profit is below 50%.

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

Yes, reputable proprietary trading firms do indeed pay traders for their profits. While there are scams out there, it's essential to differentiate them from legitimate firms.

In conclusion, it can take around 4-5 months to pass a prop firm trading challenge and become a funded trader. However, it can take much longer than that to become a profitable trader beforehand – which is a necessity.

Passing FTMO challenges is not an easy task and it takes time. Take your time and do not rush through it. You have a whole month to complete it, which is usually more than 20 trading days.

Upon successfully passing a Prop Firm Challenge, traders may be required to fund their trading accounts with an initial amount. The firm may also have scaling plans that determine how much capital traders can access based on their performance.

Each Smart Prop Trader Challenge needs to be traded from the beginning, irrespective of the progress on your other accounts. As we need to diversify our risk and exposure, we allow a maximum capital allocation of $400,000 per trader or per strategy, at any given time.

How often does smart prop trader payout? ›

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 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.

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%.

The 90 rule in Forex is a commonly cited statistic that states that 90% of Forex traders lose 90% of their money in the first 90 days. This is a sobering statistic, but it is important to understand why it is true and how to avoid falling into the same trap.

Rule 1: Always Use a Trading Plan

You need a trading plan because it can assist you with making coherent trading decisions and define the boundaries of your optimal trade. A decent trading plan will assist you with avoiding making passionate decisions without giving it much thought.

The Rule. If, after trading outside the Value Area, we then trade back into the Value Area (VA) and the market closes inside the VA in one of the 30 minute brackets then there is an 80% chance that the market will trade back to the other side of the VA.

With the Prop Firm challenges, it's not just about failing or winning. You must be profitable and fulfill certain trading objectives which makes it even harder. Less than 1% of traders who attempt the challenge pass and get funded. It's best to invest in a few challenges.

The most common reasons traders fail prop firm challenges are simply overleveraging their trades, not understanding the rules, and not having a profitable trading strategy.

Upon successfully passing a Prop Firm Challenge, traders may be required to fund their trading accounts with an initial amount. The firm may also have scaling plans that determine how much capital traders can access based on their performance.

In Summary – How Long Does It Take To Become A Funded Trader? In conclusion, it can take around 4-5 months to pass a prop firm trading challenge and become a funded trader. However, it can take much longer than that to become a profitable trader beforehand – which is a necessity.