Real prop firm · no paid challengeUS stocks · New York / Miami · smbtraining.com

SMB Capital

68 / 100 · 43% verified

Visit SMB Capital →Opens the firm’s own website.

Why this zone

Green because desk traders use the firm's capital and the firm takes the risk. Broker, limits and split are not published. Criteria we could not check from public sources (43% verified) count as average, 50 of 100, so the score will change when the firm publishes more.

In short

A well-known New York prop desk run by Mike Bellafiore and Steven Spencer, active in 2026, in a joint venture with Kershner since 2013. On the desk the firm provides all capital and trains new traders for two years. Most of what the public sees is paid education (courses around $2,000–5,000) — buying a course does not get you capital.

Firm details

Website: smbtraining.com (old smbcap.com not updated since 2017)
Founded: mid-2000s
Headquarters: Midtown Manhattan; desk in Miami
What you trade: US stocks (real); options programme
Platforms: Not published
Capital: All firm capital (joint venture with Kershner)
Pay: Profit share; split not published
Training: 2-year programme on the desk; paid courses for the public
Broker / clearing: Not named by SMB
Remote: A remote role existed (closed Aug 2025)

Bad days to blow-up

n/a

not published

Capital

100%

firm's money

Courses

$2–5K

education, not capital

Programme

2 years

for desk traders

Score by category

Whose money (35%)73

Firm capital; broker and entity not named by SMB.

Real risk (25%)no data · counted as 50

Not published.

Trading as a job (15%)92

Coaches, mentors, 2-year programme.

Do they pay (15%)75

Active since the 2000s; no complaints found.

Price and fair rules (10%)no data · counted as 50

Desk contract not public.

Strengths

Firm capital and a real trading floor
Strong coaching and community
Active and growing in 2026

Watch out for

Desk seats are in New York / Miami
Paid courses can be mistaken for a funded seat
Split and limits not published

Who it fits

Fits: traders who can join the New York or Miami desk; anyone who wants education and knows it is education.

Doesn't fit: traders looking for remote capital from abroad.

Access: office in the US; remote only occasionally.

Remember the one rule

Simulated account after you pass = you trade against the firm.

Real account with real money = your profit is its profit.

Last changes

No rule changes logged yet. We check this firm twice a week.

Ready to look at SMB Capital?

Read the firm’s own terms before you join: the account after you pass, the loss limits and the payout rules.