Three Challenge Programmes
Smart Trader Funds offers three evaluation programmes, each with different rules, targets, and trading conditions. Understanding the differences is essential before you pay the challenge fee.
| Rule | Fast Track | Regular | Pro |
|---|---|---|---|
| Phases | 1 | 2 | 2 |
| Phase 1 Target | 9% | 9% | 9% |
| Phase 2 Target | N/A | 4% | 4% |
| Daily Drawdown | 4% | 5% | 4% |
| Max Drawdown | 6% | 10% | 8% |
| Profit Split | 70% | 80-90% | 80-90% |
| Leverage | 1:30 | 1:50 | 1:30 |
| Weekend Holding | No | No | Yes |
| News Trading | Restricted | Restricted | Allowed |
Drawdown Rules
Daily Drawdown
The daily drawdown limit restricts how much you can lose in a single trading day. On Fast Track and Pro accounts, this is 4% of your starting balance. On Regular accounts, it is 5%.
This is calculated from the start of the trading day (server time), not from your current equity. If your account starts the day at $50,000, a 4% daily drawdown means you cannot let equity fall below $48,000 at any point during that day — including unrealised losses on open positions.
Maximum Drawdown
The maximum drawdown is the total loss allowed from your initial starting balance across the entire challenge.
- Fast Track: 6% — the tightest of any programme. On a $50,000 account, you can lose a maximum of $3,000 total.
- Pro: 8% — moderately restrictive. $4,000 maximum loss on a $50,000 account.
- Regular: 10% — the most generous. $5,000 maximum loss on a $50,000 account.
The Fast Track's 6% max drawdown is notably tight. Combined with a 4% daily drawdown, two bad days could end the challenge. This is something to consider carefully before choosing the 1-phase route.
Consistency Rule
Smart Trader Funds enforces a 45% consistency rule. No single trading day can account for more than 45% of your total profits. This rule exists to prevent traders from passing the challenge on one lucky trade.
In practice, if your total profit at the end of the challenge is $4,500, no single day's profit can exceed $2,025 (45% of $4,500). If it does, you will need to continue trading until that ratio drops below 45%.
This rule catches swing traders and news traders most often. A single large winning trade can trigger it, forcing you to keep trading and risk giving back profits just to meet the consistency requirement.
Prohibited Strategies
Smart Trader Funds bans several trading strategies. Violating any of these results in immediate account termination:
- All forms of arbitrage — including latency arbitrage, statistical arbitrage, and triangular arbitrage
- High-frequency trading (HFT) — automated strategies executing at extremely high speeds
- Grid trading — placing multiple orders at regular intervals above and below the current price
- Tick scalping — entering and exiting trades on individual price ticks
- Unauthorised copy trading — copying trades from another account or signal provider without approval
- Hedging across accounts — opening opposing positions on separate STF accounts to guarantee profit on one
- Martingale — doubling position size after losses
News Trading Restrictions
On Fast Track and Regular accounts, you cannot open or close trades within 10 minutes before or after a 3-star (high-impact) news event. This includes NFP, FOMC rate decisions, CPI releases, and other events marked as high-impact on the economic calendar.
Existing positions that are already open before the 10-minute window can remain open, but you cannot modify them during the restricted period.
The Pro (Swing) account does not have this restriction. If news trading is a core part of your strategy, the Pro account is your only option at Smart Trader Funds.
Mandatory Stop-Loss
All positions must have a stop-loss attached. Trading without a stop-loss is a rule violation. The platform may not enforce this automatically — it is your responsibility to set a stop-loss on every trade.
Weekend Holding
Only the Pro (Swing) account allows holding positions over the weekend. Fast Track and Regular accounts require all positions to be closed before the Friday market close. Failing to close positions before the weekend on these accounts is a rule violation.
Inactivity Rule
If your account has no trading activity for 20 consecutive days, it will be suspended. This applies to both the challenge phase and the funded phase. If you need to take a break, contact support to request an extension.
Account Sizes and Fees
Smart Trader Funds offers challenges from $10,000 to $300,000. The challenge fee for a $10,000 account starts at $99. Larger accounts carry proportionally higher fees. No fee is refunded under any circumstances — whether you pass, fail, or abandon the challenge.
Final Thoughts
Smart Trader Funds' rules are competitive on targets (9%/4% is slightly easier than industry standard) but restrictive on drawdown (especially Fast Track at 6%) and leverage (1:30-1:50 is lower than most competitors). The prohibited strategies list is extensive, and the 45% consistency rule can catch traders who profit heavily on single days.
Before committing, map your strategy against these rules. If you are a news trader, you need the Pro account. If you rely on grid strategies or scalping, STF is not for you. And if your style involves large single-day gains, the consistency rule could prevent you from cashing out.
Frequently Asked Questions
Can I use expert advisors on Smart Trader Funds?
Yes, automated trading with EAs is allowed on MT4 and MT5, provided the EA does not use prohibited strategies like arbitrage, HFT, grid trading, or tick scalping.
What happens if I break a rule?
Rule violations result in immediate account termination. The challenge fee is not refunded, and any profits are forfeited. There is no warning system — a single violation ends the account.
Can I hold trades overnight?
Yes, overnight holding is allowed on all accounts. Weekend holding is only allowed on the Pro (Swing) account. Fast Track and Regular accounts must close all positions before Friday market close.
Is there a time limit to pass the challenge?
Smart Trader Funds advertises no time limit on its evaluations. You can take as long as needed to reach the profit target, provided you trade at least once every 20 days to avoid the inactivity suspension.