Smart Prop Trader vs Super Funded

Comparative Review of Smart Prop Trader and Super Funded

In the competitive world of proprietary trading, retail traders are on a constant lookout for firms that can provide them with the best opportunities and support to grow their careers. In this review, we compare two prop firms: Smart Prop Trader and Super Funded, based on a range of aspects including benefits, drawbacks, rules, and financial logistics.

Smart Prop Trader Overview

Smart Prop Trader stands out for its exceptional Trustpilot rating of 4.7/5, indicating high levels of trader satisfaction and confidence. Customer service is another positive, albeit with the caveat of restricted live chat support hours. The firm offers several enticing features such as a free trial, infinite free evaluation retries, and competitive pricing - making it accessible for traders of various levels. Traders are also drawn to the firm's generous profit sharing arrangement, offering an 85%-90% split and the appealing initial 12-day payout followed by bi-weekly schedules. The leverage of 1:100 and the permission to hold positions over the weekend and during news events grant significant flexibility. Importantly, Smart Prop Trader provides scalability opportunities, allowing traders to progressively manage up to $2,500,000 under relaxed trading conditions. On the flip side, a 4% maximum daily drawdown based on equity might be a bit rigid for more aggressive traders. Moreover, the relatively high commission charges could cut into the profits, affecting the bottom line of high-volume traders.

Super Funded Overview

Super Funded is a newer entity in the space, having been incorporated in February 2023. It offers real accounts with a capital allocation of up to $600,000 and a handsome profit split of 90%. The absence of a minimum trading day requirement and the simplified one-step evaluation process make it an attractive proposition for both seasoned and new traders looking for a quick start. Like Smart Prop Trader, Super Funded also allows flexibility in trading styles, covering news trading, weekend, and overnight positions. However, the leverage is significantly lower, restricted to 1:30, 1:20, and 1:2, which might not appeal to all trading strategies. A potential red flag for Super Funded is the lack of community feedback and payment proofs, which could be due to its recent entry into the market. Additionally, the consistency rule could be perceived as a hindrance for traders who employ diverse strategies or experience fluctuating performance.

Financial Transactions and Terms

Both firms offer similar deposit and withdrawal options, including credit/debit cards and cryptocurrency, with Smart Prop Trader using Deel for withdrawals, and Super Funded providing both crypto and Deel options. This provides sufficient flexibility in managing financial transactions.

Account Options and Trading Instruments

When it comes to account sizes, Smart Prop Trader offers a range from $10,000 to $200,000, providing traders with the opportunity to find a suitable entry point. Super Funded, while not specifying exact account sizes, allows for scalability up to $600,000. Both firms operate with USD as the account currency. Smart Prop Trader offers a slightly wider range of tradeable instruments, including commodities, crypto, forex, indices, and metals. In contrast, Super Funded does not list metals among its tradeable assets.

Rules and Regulations

Each firm has set forth specific rules to manage risk and trader behavior. Smart Prop Trader imposes maximum daily loss limits, prohibits Martingale strategies, and has criteria for profit targets and the use of third-party trading tools. Super Funded's rules align closely, with the addition of a consistency rule and a prohibition on copy trading, which may affect traders who rely on such techniques.

Critical Opinions for Traders

Retail traders must weigh their priorities when choosing between these two firms. Smart Prop Trader offers a blend of flexible trading conditions and high-profit potential but at the cost of higher commissions and stricter drawdown rules. On the other hand, Super Funded provides a straightforward path to trading with large capital and simpler evaluation, yet it lacks reputation and has restrictive leverage options. Understanding one's trading style, risk tolerance, and the importance of community reputation can guide traders to make an informed decision. It's crucial to stay within the rules set out by each firm to avoid unnecessary losses or disqualification from their programs. Both firms have their merits and demerits. Therefore, careful consideration is required to determine which aligns best with a trader's individual needs and objectives.