Goat Funded Trader is a well-known prop trading firm from Hong Kong.
But is Goat Funded Trader a scam?
No, it isn’t!
Our review and experience show that Goat Funded Trader is a safe proprietary trading firm.
Sign up with Goat Funded Trader now!
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Table of Contents
Key Takeaways
- Goat Funded Trader has earned user trust due to its consistent payouts, strict risk management protocols, and partnerships with reputed platforms
- The firm offers prop trading challenges in forex, CFDs, indices, metals, commodities, equities, and cryptocurrencies. The profit split can go up to 95%, and the trading rules are trader-friendly
- Our review of the Goat Funded Trader discusses the pros and cons of the firm and covers aspects such as its evaluation process, trading rules, registration process, payout systems, and customer support
About Goat Funded Trader
Goat funded trader was founded in 2023 by Edward, who is also the CEO of the company. He founded the prop firm with two of his friends, who are also traders. The company is headquartered in Hong Kong, and it has an additional office in Las Palmas, Spain. Despite being a relatively new entrant to the prop trading industry, the company has rapidly gained recognition for its trader-friendly approach.
| Name | Goat Funded Trader |
|---|---|
| Website | goatfundedtrader.com |
| Company | Wishes Tower International Limited |
| Address | Rm 1205, 12/f. Beverly House, 93 Lockhart Rd, Wan Chai, Hong Kong |
| CEO | Edoardo Dalla Torre |
| Founder | Edoardo Dalla Torre |
| Founded | 2023 |
| Contact | Live Chat, Mail, Contact Form |
| [email protected] | |
| Phone Number | not available |
| Starting Capital | $5,000 to $200,000 |
| Profit Share | 40% to 80% |
| Evaluation | 0 days |
| Fee | $30 to $1,065 |
| Payment Methods | Credit Card, Crypto |
| Instruments | CFDs, Forex |
| Platform | Match Trader, TradeLocker |
| Withdrawals | on request |
| Languages | English, Spanish, Italian, German, Greek, Turkish, Czech, Japanese |
A key selling point is the company’s flexible trading conditions. With no time limits, no minimum trading days, and high leverage, new traders kick off their careers on their own terms. The company’s got a wide range of different challenge. So, whatever your trading style, there’s something that fits.
Safety and Regulation
GFT has established strict risk management protocols to ensure responsible trading practices. These include:
- A strict prohibition on hedging within or across accounts held by the same or different traders.
- The authority to reduce leverage for risky traders
- Ability to remove profits made during high-impact news events.
The company closely monitors accounts for any prohibited activities. If violations occur, GFT can suspend accounts.
Recently, GFT developed a new technology that allowed them to bring back the MetaTrader 4 platform. This platform had been suspended for four months due to licensing issues. GFT places a strong emphasis on transparency, especially in its contracting and property management practices.
Accepted Countries
They can’t provide services to people living in Cuba, Iran, North Korea, Syria, Lebanon, Libya, Sudan, Somalia, Russia, and certain regions of Ukraine (Crimea, Donetsk, and Luhansk) as these are under sanctions. Here’s the availability status of some key countries:
- Australia: Yes, registration is possible
- Canada: Yes, registration is possible
- Ghana: Yes, registration is possible
- Hong Kong: Yes, registration is possible
- India: No, registration isn’t possible
- Ireland: Yes, registration is possible
- Kenya: Yes, registration is possible
- New Zealand: Yes, registration is possible
- Nigeria: Yes, registration is possible
- Pakistan: Yes, registration is possible
- Philippines: Yes, registration is possible
- Singapore: Yes, registration is possible
- South Africa: Yes, registration is possible
- United Kingdom: Yes, registration is possible
- United States: Yes, registration is possible
Evaluation Process
There are several funding programs you can choose from. We’ll explain them here:
1 Step Program
The one-step evaluation program offers various account sizes from $5K to $200K. The trader needs to reach a 10% profit target for the prop firm to provide traders with the funds.
There’s no minimum trading day requirement as well. The daily drawdown limit is 4%, and the maximum drawdown allowed is 6%. The trading period has no time limit, giving flexibility to the trader. Leverage is set at 1:30. After passing this step, traders move to a Goat account. In the Goat account, there’s a 30-day wait for the first payout, the same drawdown limits apply, and traders can keep up to 95% of their profits.
| Starting Capital | $5,000 | $8,000 | $15,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|---|---|
| Profit Target | $500 | $800 | $1,500 | $2,500 | $5,000 | $10,000 | $20,000 |
| Maximum Daily Loss | $200 | $320 | $600 | $1,000 | $2,000 | $4,000 | $8,000 |
| Maximum Loss | $300 | $480 | $900 | $1,500 | $3,000 | $6,000 | $12,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee | sold out | sold out | $170 to $185 | $230 to $245 | $339 to $354 | $590 to $605 | $1,050 to $1,065 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now | Check now |
2 Step Program
These Goat challenges require you to participate in two stages:
Swing Trading
This Goat challenge offers account ranging from 10K to 100K. It has two steps with different profit targets. The first stage has a profit target of 10%, while the second stage requires 6%. If you manage to hit the targets, then you can trade on the funded account.
Both stages have a 4% daily drawdown limit and a 12% maximum drawdown. Leverage is up to 1:50. The funded Goat account offers up to 95% profit split with the same drawdown limits.
| Starting Capital | $10,000 | $25,000 | $50,000 | $100,000 |
|---|---|---|---|---|
| Profit Target | $1,000 | $2,500 | $5,000 | $10,000 |
| Maximum Daily Loss | $400 | $1,000 | $2,000 | $4,000 |
| Maximum Loss | $1,200 | $3,000 | $6,000 | $12,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 |
| Fee | $120 to $135 | $230 to $245 | $370 to $385 | $580 to $595 |
| Discount | Check now | Check now | Check now | Check now |
No Time Limit
This two-phase evaluation program emphasizes no time limit for reaching trading objectives and ranges from 5 to 200k. Step 1 aims for 10% profit, while Step 2 targets 5%. Both steps have a 5% daily drawdown and a 10% maximum drawdown limit. Leverage is higher at up to 1:100. The Goat account maintains the same drawdown limits and up to 95% profit split.
| Starting Capital | $5,000 | $8,000 | $15,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|---|---|
| Profit Target | $500 | $800 | $1,500 | $2,500 | $5,000 | $10,000 | $20,000 |
| Maximum Daily Loss | $250 | $400 | $750 | $1,250 | $2,500 | $5,000 | $10,000 |
| Maximum Loss | $500 | $800 | $1,500 | $2,500 | $5,000 | $10,000 | $20,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee | $44 to $63 | $84 to $106 | $154 to $181 | $194 to $224 | $294 to $331 | $524 to $577 | $974 to $1,058 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now | Check now |
Goat Trading
This Goat funded trader’s program offers accounts ranging from 5K to 150K. Step 1 has an 8% profit target, and Step 2 aims for 6%. Both steps have a 4% daily drawdown and 10% maximum drawdown limit. Leverage is set at 1:50. The Goat account keeps the same drawdown limits and offers up to 95% profit split.
| Starting Capital | $5,000 | $8,000 | $15,000 | $25,000 | $50,000 | $100,000 | $150,000 |
|---|---|---|---|---|---|---|---|
| Profit Target | $400 | $640 | $1,200 | $2,000 | $4,000 | $8,000 | $12,000 |
| Maximum Daily Loss | $200 | $320 | $600 | $1,000 | $2,000 | $4,000 | $6,000 |
| Maximum Loss | $500 | $800 | $1,500 | $2,500 | $5,000 | $10,000 | $15,000 |
| Minimum Trading Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fee | $30 to $48 | $48 to $67 | $88 to $110 | $138 to $164 | $238 to $271 | $398 to $442 | $598 to $656 |
| Discount | Check now | Check now | Check now | Check now | Check now | Check now | Check now |
Challenge Trading Rules
During the evaluation period, traders must follow certain rules to pass the Goat Challenge. Learn about them here:
- Profit Target
- Profit Split
- Trading Period
- Minimum Trading Days
- Maximum Daily Loss
- Maximum Loss
- Maximum Position Size
- Maximum Capital Allocation and Multiple Accounts
- Trading Types
- Leverage
- Trading Style
- Trading Hours
- News Trading
- Weekend and Overnight Trading
- Expert Advisor
- Copy Trading
Profit Target
When we used the product, we found that the profit targets in these trading programs vary based on the specific style and phase. In the Swing Trading program, traders aim for 10% profit in Step 1 and 6% in Step 2.
The No Time Limit program requires 10% profit for Step 1 and 5% for Step 2. The Goat Trading program sets an 8% profit target for Step 1 and 6% for Step 2. The One Phase program has a single 10% profit target.
After meeting these targets, traders can move to a funded Goat account where they can trade with the prop firm’s capital.
Profit Split
For Two Step evaluations, traders can get 40% of their profits after just 3 trading days through Payout On Demand.
If they wait 30 days, they can receive 80% of profits at the first payout. The profit split increases over time: 85% at the second payout, 90% at the third, and potentially 95% for highly profitable traders, as reviewed by the GoatFundedTrader Team.
Traders can opt for a 90% profit split from the start by choosing an add-on, but this isn’t available for quick Payout On Demand.
For One-step evaluations, the first payout is 80% after 30 days, then increases to 85% and 90% for subsequent payouts, with a possible 95% for top performers. The 90% initial profit split add-on is also available for this program.
All traders can request up to a 95% profit split if they consistently reach a profit target of 4% monthly for four consecutive months.
Trading Period
There’s no time limit for traders to complete the challenges. So, you can take as much time as you need and progress at a speed that you are comfortable with.
Minimum Trading Days
There’s no minimum number of trading days. The moment you reach the profit target, you can move on to the next level, even if it’s the first trading day.
Maximum Daily Loss
In the Swing Trading and Goat Trading programs, the daily drawdown limit is set at 4%. This means traders can’t lose more than 4% of their account value in a single trading day.
The No Time Limit program has a slightly higher daily drawdown limit of 5%, giving traders a bit more flexibility but also increasing risk. The One Phase program also maintains a 4% daily drawdown limit.
Maximum Loss
In the Swing Trading program, this limit is set at 12% of the account value. The No Time Limit and Goat Trading programs have a slightly lower Maximum Drawdown of 10%.
The One Phase program has the most conservative limit at 6%. The rule is designed to protect traders from excessive losses. It applies to all traders, regardless of their experience or duration in the program. If a trader’s losses reach this 6% threshold at any point during their evaluation, the program closes their account.
Maximum Position Size
The Forex prop firm provides you with a lots size calculator to help you find your maximum position.
Maximum Capital Allocation and Multiple Accounts
You can have multiple accounts. But you can’t combine Evaluation accounts or simulated Funded Accounts that have already started trading or exceed $400,000.
However, you’re allowed to merge simulated Funded Accounts that haven’t begun trading and are under $400,000. You can’t collect more than $800,000 on simulated funded accounts. However, traders from Pakistan can only get access to $50,000.
Trading Types
From our own experience, you can trade with FX pairs and CFD indices, metals, commodities, equities, and cryptocurrencies.
Leverage
The 2-phase, No Time Limit, Goat, and Swing Plus Evaluations offer traders more flexibility in leverage options. For forex trading, these programs allow up to 1:100 leverage. This is significantly higher than other asset classes. Metals and commodities have a more moderate leverage cap of 1:20. For indices, the leverage limit is set at 1:15. Digital currencies have the lowest leverage at 1:2, as they are highly volatile.
The One Step Evaluation is more conservative. Here, forex leverage is limited to 1:30. The leverage for metals, commodities, indices, and digital currencies remains the same as in the other evaluations: 1:20, 1:15, and 1:2, respectively.
Trading Style
Here are the trading styles you can’t use:
- No exploiting errors or latency in pricing or platforms
- No using insider information or front-running trades
- Avoid trading that risks Goat Funded Trader’s broker relationships
- All-or-Nothing trading and excessively risky styles are forbidden
- Hedging within accounts or between traders is strictly prohibited
- Third-party strategies and off-the-shelf EAs for passing assessments are not allowed
- Switching between EA and manual trading from assessment to the funded stage is prohibited
- No duplicating trades from master accounts to evaluation accounts
- Gambling-like behavior, such as rapid trades or large volume without a strategy, is not permitted
- Abuse of the simulated environment through illogical high-volume trading is forbidden
Trading Hours
The forex market operates continuously for 24 hours across different global sessions. The Asian session opens first, followed by the European session, and then the North American session. This creates a 24-hour trading cycle as different financial centers become active.
News Trading
News trading is allowed but with specific restrictions. The system flags and removes any profits made two minutes before and two minutes after high-impact news events on live accounts.
You can keep trades open during news, but opening or closing trades within this four-minute window is prohibited. If you repeatedly trade within this window, your account will be breached. During evaluation phases, opening or closing trades in this four-minute window around high-impact news will result in an immediate account breach.
Weekend and Overnight Trading
Yes, trades can be held overnight over the weekend.
Expert Advisor
Using Expert Advisors (EAs) is allowed, but with important restrictions. These automated trading systems must comply with all rules against prohibited trading practices. High-frequency trading (HFT) strategies are not permitted, as they can potentially exploit market inefficiencies unfairly. Additionally, Gold Arbitrage EAs are specifically banned.
Copy Trading
Goat Funded Trader doesn’t allow copy trading. If you engage in copy trading, there will be serious consequences. You won’t get a funded account, and they will ban you from using their services forever.
Trading Platforms
Right now, they offer Match Trader and TradeLocker as platforms. These are user-friendly, and have lots of tools for analysing markets. Both platforms are great for traders who want quick executions and a straightforward trading experience. Also, both platforms let you trade various financial instruments, like currencies, stocks, or commodities.
Trading Instruments
You have a wide range of trading instruments available to you, including FX pairs and CFD indices, metals, commodities, equities, and cryptocurrencies.
When you trade using Match-Trader or Metatrader platforms, the commission structure is straightforward. For cryptocurrencies, indices, and commodities, there’s no commission fee – it’s $0 per lot. For forex and metals trading, you’ll pay a flat fee of $5 per lot. All assets come with raw spreads, which means you get direct market pricing without any markup.
Brokers
They use ThinkMarkets as their broker, which provides the Match Trader platform that Goat Funded Trader uses for their programs.
Other Products
They are mainly focused on providing the best trading programs and don’t offer any other products.
Prices and Challenge Fees
There are different prices for different programs. Find out their prices below:
2 Steps No Time Limit Program:
| Account Size | Price (USD) |
|---|---|
| $5,000 | $44 to $63 |
| $8,000 | $84 to $106 |
| $15,000 | $154 to $181 |
| $25,000 | $194 to $224 |
| $50,000 | $294 to $331 |
| $100,000 | $524 to $577 |
| $200,000 | $974 to $1,058 |
2 Steps Goat Program:
| Account Size | Price (USD) |
|---|---|
| $5,000 | $30 to $48 |
| $8,000 | $48 to $67 |
| $15,000 | $88 to $110 |
| $25,000 | $138 to $164 |
| $50,000 | $238 to $271 |
| $100,000 | $398 to $442 |
| $150,000 | $598 to $656 |
2 Steps Swing Program:
| Account Size | Price (USD) |
|---|---|
| $10,000 | $120 to $135 |
| $25,000 | $230 to $245 |
| $50,000 | $370 to $385 |
| $100,000 | $580 to $595 |
1 Step No Time Limit Program:
| Account Size | Price (USD) |
|---|---|
| $15,000 | $170 to $185 |
| $25,000 | $230 to $245 |
| $50,000 | $339 to $354 |
| $100,000 | $590 to $605 |
| $200,000 | $1,050 to $1,065 |
Payment Methods and Payout System
They accept credit/debit cards and crypto for payments.
For Classic, No Time Limit, and Goat Evaluations, you can request your first payout just 24 hours after your first trade on the simulated funded account, provided you’ve made at least 3% profit. This 3% minimum only applies to the first payout. After that, you can withdraw profits monthly (every 30 days). However, you have the option to get paid more frequently. By choosing an add-on when you buy your challenge, you can access payouts weekly (every 7 days) or bi-weekly (every 14 days).
For One Step Evaluations, you can request your first payout after 30 calendar days from your first trade. After that, you will be paid bi-weekly (14 days).
Withdrawal requests can be made through your dashboard and are processed within 48 to 72 business hours. The minimum withdrawal amount is $100. Payouts are processed via Rise, and you can choose either crypto or wire transfer for receiving funds. Make sure your GFT account name matches your Rise account name.
There’s a limit on the first two payouts – you can withdraw up to $10,000 each time. This policy allows time to evaluate your trading performance thoroughly. Any profits over $10,000 during these first two payouts will be deducted from your account balance and won’t be available for future withdrawals. This limit doesn’t apply to subsequent payouts or to the payout-on-demand option.
Registration and KYC
The registration process is quite simple. Follow the step-by-step process:
- Open the Goat Funded trader website
- Sign up for a Goat Funded Trader challenge (various types available)
- Complete evaluation phases
- Pass account review after Phase 2
- Receive email from Rise for KYC verification
- Submit documents for KYC
- Wait for KYC approval (usually 2 business days)
- Get an invitation to join Rise platform
- Accept the invitation to activate the live account
- Resume trading with new credentials
Discount and Promo Code
Right now, there’s a discount offer going on. Use WELCOMETOGFT for 20% off on all programs.
Free Trial and Demo Account
Goat Funded Trader does not offer a free trial or a demo account. The only option to use their programs is to pay for an evaluation challenge.
Mobile App
They don’t have a mobile app yet. But you can use the mobile apps of their platforms.
Customer Service and Support
The FAQs section is so detailed that you rarely need to contact the customer service.
However, they are pretty good as well as you can reach them through e-mail, phone, discord community or live chat. They connect you to a live agent within a few minutes.
Taxes
Goat Funded Trader doesn’t help with taxes. They clearly say in their rules that they won’t give you financial, tax, or legal advice.
You make real money, but you trade with virtual money. You’re using GFT’s platform to practice trading with virtual money, but when you make a profit, it’s real money that you need to pay tax on.
It’s important to talk to a professional who knows about taxes. They can explain exactly how to handle your trading profits for tax purposes. Learn more in our dedicated guide about “Prop Trading Taxes“.
Alternatives and Competitors of Goat Funded Trader
If you’re still unsure, you can check out some alternatives we picked from the best prop trading firms:
Apex Trader Funding
The prop firm Apex Trader Funding allows trading in various futures markets, including stocks, interest rates, currencies, agriculture, energy, metals, micro futures, and cryptocurrencies. The best thing is traders can get 100% of their first $25,000 in profits, followed by a 90:10 split.
FTUK
FTUK offers trading accounts in US dollars, euros, and pounds. There’s no rush to complete the challenge as there’s no maximum trading period. The best thing is you can grow your account to $5.76 million!
Lux Trading Firm
Lux Trading Firm offers programs from $50,000, and you car scale the account up to $10 million to trade forex, stocks, bonds, and crypto. They have their own platform called The Lux Trader, but you can also use MetaTrader 5.
Conclusion
Goat Funded Trader is a legit prop firm and offers amazing chances for traders to make money. They’ve got a solid reputation for paying out consistently and managing risk well. With their programs, you can trade forex, stocks, commodities, and even crypto. The profit splits can go up to 95%, which is far higher than the industry standard.
Also, there’s no time limits on challenges, no minimum trading days, and they’re okay with various trading styles. They’ve got options for both newbies and seasoned traders, with account sizes ranging from $5K to $200K.
Sign up with Goat Funded Trader now!
Currently, they’re offering a 20% discount right now with the code WELCOMETOGFT. So, why not give Goat Funded Trader a shot? Sign up for Goat Funded Trader Today.
Frequently Asked Questions
Here, we’ve answered the most frequently asked questions about the Goat Funded Trader.
Is Goat Funded Trader legit or a scam?
GFT is a legitimate firm, and we have only good experience with them. From our own experience, they have been transparent about the policies with us and were consistent with payouts. Explore more about the prop firm in the “Safety and Regulation” section.
Is Goat Funded Trader regulated?
Goat Funded Trader isn’t regulated as they aren’t traditional brokers. Find out more about this in the “Safety and Regulation” section.
What is Goat Funded Trader?
Goat Funded Trader is a proprietary trading firm. It offers up to $800,000 in simulated capital and allows traders to keep up to 95% of their profits. Explore more in the “About Goat Funded Trader” section.
What broker does Goat Funded Trader use?
The prop firm uses ThinkMarkets as their broker. Find out more about this in the “Brokers” section.
How many Goat Funded Trader accounts can I have?
You can have multiple accounts, but you can’t merge Evaluation accounts or simulated Funded Accounts that have started trading or are greater than $400,000. Learn more about this in the “Challenge Trading Rules” section.
Where is Goat Funded Trader located?
Goat Funded Trader is located in Hong Kong. Find more about the company in the “About Goat Funded Trader” section.
Does Goat Funded Trader allow an expert advisor or copy trading?
Goat Funded Trader allows expert advisors but strictly prohibits copy trading. Learn more about this in the “Expert Advisor” and “Copy Trading” section.
Is Goat Funded Trader legal in the US?
Goat Funded Trader is legal in the US, and there’s no restriction on its services. Find more about this in the “Accepted Countries” section.
How long has Goat Funded Trader been around?
The prop company was founded in 2023. Learn in-depth about the company in the “About Goat Funded Trader” section.
How much does Goat Funded Trader cost?
The entry fee for the evaluation challenge ranges from $30 to $1,065. Find out more in the “Prices and Challenge Fees” section.
How often does Goat Funded Trader payout?
How long it takes to get paid from Goat Funded Trader depends on which challenge you pass. You could get paid as quickly as 24 hours (2-Phase), or it might take up to a month (1-phase). Explore more about this in the “Payment Methods and Payout System“.
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