Smart Prop Trader review

Smart Prop Trader closed in an orderly way in late 2024, with no scam allegations. Its founder then introduced a new Costa Rica broker, FXnity, incorporated 11 days after the closure notice, without disclosing his role in it. The old domain pointed there for over a year; it now redirects somewhere else entirely, with no connection to either firm.

Last verified 20 October 2026 · how we check

Smart Prop Trader is the rare entry on this page that closed without a scandal, and it’s still the strangest trail of the batch. The firm wound down cleanly in late 2024. Its founder then launched a new broker on a freshly registered company, pointed his own traders at it without saying what his role there actually was, and at some point since, the redirect moved again to a business with no connection to either name.

The closure itself was orderly

Blake Olson launched Smart Prop Trader, an Austin-based firm, at the end of 2022, offering funded accounts from $5,000 to $100,000 through a two-phase evaluation and marketing fast payouts as its main differentiator. Over roughly two years of operation it built a Trustpilot record that stands out in this batch for the opposite reason Nova Funding’s does: 4.4 out of 5 across more than 2,500 reviews, with 87% at five stars.

Against that record, the closure itself reads as advertised. Smart Prop Trader stopped onboarding new traders on 27 November 2024 and gave existing traders until 29 December 2024 to finish their activity. No allegations of withheld payouts, liquidity problems or regulatory action accompanied the announcement; it reads as a planned wind-down rather than a collapse. It closed as part of a wave that took down more than 50 funded-trading firms that year, following the regulatory and platform disruptions that also hit SurgeTrader, True Forex Funds and others on this site.

What happened eleven days later

A Costa Rica company called FXnity was incorporated on 9 December 2024, registration number 3-102-920598, eleven days after Smart Prop Trader’s closure notice. On 31 January 2025, the firm’s founder, Blake Olson, published a farewell video to his own audience in which he introduced FXnity himself and pointed business enquiries at “FXnity’s support,” by email or live chat.

What was never disclosed is Olson’s actual relationship to FXnity. No filing, announcement or public statement available anywhere states whether he owns it, works for it, or simply recommended it. The sequence of dates, closure notice, incorporation, founder introduction, is a matter of public record; his formal role is not.

The domain followed, then stopped following

Smart Prop Trader’s old domain began redirecting to fxnity.com during the first two weeks of February 2025, and stayed pointed there for over a year. FXnity itself is still an operating business: a review dated 9 October 2026 describes it as a Costa Rica-registered CFD broker in normal operation, carrying no licence from a recognised financial regulator.

That redirect is no longer in place. Checked today, smartproptrader.com resolves to smartprofitfx.com instead, an introducing-broker portal for Eightcap with no mention anywhere on the page of Smart Prop Trader, Blake Olson or FXnity. Its own pitch is narrow and specific: “Open the same Eightcap accounts through SmartProfitFX and pay a round-trip commission $1 lower than going direct.” We found no announcement explaining when or why the redirect target changed a second time; it’s a fact we can verify today, not one we can explain.

The sequence, dated

Which register would even apply

Smart Prop Trader sold simulated evaluation accounts, the arrangement covered in futures prop trading firms, and never carried an ASIC or CySEC licence to check for that reason. FXnity, as an unregulated Costa Rica CFD broker by its own current reviews, wouldn’t appear in either register either; a reader checking FXnity today should look for a licence from wherever it claims to operate, not assume a Costa Rica incorporation number is a trading licence.

If you traded through either name

A clean closure doesn’t require any recovery action on your part. Unlike the other firms covered this week, Smart Prop Trader’s own account of its wind-down describes completed accounts, not frozen ones; there’s no indication of unresolved claims tied to the closure itself.

Treat FXnity as a separate decision, not a continuation. Nothing here establishes what, if anything, Olson’s recommendation means for FXnity’s reliability. Run the same checks you would on any unregulated broker before funding an account there.

The current redirect target is informational only. SmartProfitFX appears to be an ordinary Eightcap introducing-broker arrangement with no link to the earlier names; treat it as its own entity, not as evidence about either prior business.

Why an undisclosed handoff matters even without a scandal

Nothing here alleges that Olson did anything to his Smart Prop Trader customers beyond closing the firm as announced. The reason the FXnity handoff still matters is narrower than a scandal: a trader who trusted Olson’s judgement over months or years had no way to evaluate that recommendation on its own terms, because the one fact that would let them do that, what he actually is to FXnity, was never stated. A straight “I’m a co-founder” or “I’m paid to promote this” changes how much weight the recommendation deserves; silence doesn’t default to either answer, it just removes the information needed to decide.

A snapshot, not a history

Three different domains answered for this one address within about two years, and only the first transition came with any explanation at all. A founder can close one business cleanly and point customers toward a new one without ever stating what his interest in it is, and a domain can keep moving long after anyone wrote down why.

That last point is the one worth remembering past this specific case. A domain’s current destination is a snapshot, not a history, and nothing about a redirect announces how many times it’s already changed before you checked it. Anyone relying on “where does this link go today” as proof of an ongoing relationship between two brands is reading a single frame of something that’s already moved at least twice.

Sources

• ForexFactory — Another prop firm announces closure, 2024 shutdown wave context
• The Industry Spread — Smart Prop Trader review: closed in 2024, domain now a CFD broker
• WikiFX — FXnity review, updated 9 October 2026
• smartproptrader.com — redirects to smartprofitfx.com, checked 20 October 2026
• Benzinga — Smart Prop Trader launched by Blake Olson, January 2023