SMB Capital Review
SMB Capital is a New York proprietary trading firm that funds and trains traders. It is not a retail broker, and its paid training program draws real cost complaints.
Account Sizes
Various
Profit Split
Up to 90%
Max Drawdown
10%
Payout
Bi-weekly
Pros
- Established New York prop trading firm operating since 2005
- Funds selected traders with real firm capital, not just a demo account
- Joint venture with Kershner Trading Group backs its equities desk
- Founders are published authors with a visible financial media presence
Cons
- Not a retail broker, so there is no public deposit account to open
- Training courses cost from about 2,000 to more than 5,000 dollars
- Paying for training does not guarantee a funded trading position
- Some former students call the paid course content generic or overpriced
SMB Capital is a proprietary trading firm in Midtown Manhattan, founded in 2005 by Mike Bellafiore and Steven Spencer. It trades equities, options, and futures with its own capital, and its equities desk runs in a joint venture with Kershner Trading Group. This is not a retail broker, it has no public deposit account.
SMB recruits new and experienced traders, funds selected traders with firm capital, and runs a separate paid education arm, SMB Training. Its roughly six month curriculum can cost from about 2,000 to more than 5,000 dollars, and only some trainees move on to a funded role, so payment does not guarantee a seat at the firm.
Reviews of training are split. Some former students say the material helped them build professional habits, others call it generic and overpriced next to free resources, with a few calling it a scam. Founder Mike Bellafiore has written trading books and appears often in financial media, which adds visibility but does not settle the value debate.
Max Leverage
Not applicable, set internally for funded proprietary traders rather than published
Spreads From
Not applicable, funded traders use firm capital rather than a spread based retail account
Platforms
Challenge Types
Trading Rules
- Series 57 license required
- Risk oversight by firm
- Intraday and swing styles supported
