Goat Funded Trader stands out in the Prop Firm field with its diverse challenges, clear rules, and focus on trader benefits. But is it really the best choice for you? Let’s Goat Funded Trader Review in the article below.
What is Goat Funded Trader?
Edward XL is the CEO of Goat Funded Trader, a proprietary trading business founded in May 2023 and headquartered in Spain. Through a variety of models, including 1, 2, 3-step evaluations and instant funding, the company offers trading capital up to $400,000, suitable for all experience levels.
Goat Funded Trader provides professional customer service, risk management and technical support through a team of over 40 experienced professionals. Despite some initial difficulties, the company is close to completing the relocation of its headquarters to Hong Kong by 2025 to expand its global market.
Leverage and Trading products
Goat Funded Trader supports exclusive trading in cryptocurrencies, commodities, forex, and indices. Details of post-funding leverage have not been fully disclosed, but maximum leverage will vary depending on account type and funding source.
Type of challenge determines leverage:
- Two and three step challenge: Forex leverage up to 1:100.
- One Step Challenge: Maximum leverage for Forex is 1:30.
- Commodities & Indices: 1:20 per rating account.
- Cryptocurrency: All accounts are 1:2.
Instant funding and sponsored accounts:
A trader’s leverage will decrease when they switch to a funded account:
- Instant Deposit Account: Forex Leverage will be reduced to 1:50.
- 2 and 3 step funding accounts: Forex leverage reduced to 1:50.
- 1-Step Funding Account: Leverage is yet to be determined, GFT declined to say whether leverage will remain at 1:30 or increase to 1:50.
Goat Funded Trader (GFT) does not guarantee specific leverage levels for One-Step accounts after funding, although a 1:50 leverage limit for funded accounts is common. Support declined to provide any details, saying that scheduling would be difficult as leverage would be decided later.
While GFT does not specify the exact standards, it does allude to the possibility of leverage being increased to 1:100 depending on performance. Determining whether and when they qualify is a challenge for traders due to the lack of transparency surrounding leverage increases.
Goat Funded Trader Program
With varying risk levels, Goat Funded Trader offers One Step, Two Step, Three Step and Instant Funding accounts. Profit targets, withdrawal restrictions and the ability to skip the evaluation period vary from program to program.
One Step Challenge
With a withdrawal limit of 4% daily and 6% overall, traders must achieve a 10% profit in a single period when participating in the Goat Funded Trader One-Step Challenge. Unlike the Two-Step model, you can receive funds without completing the second verification step. This model offers faster access to capital, but traders need to have a strict risk management plan due to strict withdrawal restrictions. To avoid exceeding the limit before reaching the profit target, trading must be steady and cautious.
Two Step Challenge
The evaluation process is divided into two stages as follows: Step 2 reduces the profit to 5–6% compared to the 8–10% requirement of Step 1. There are flexible options, but must comply with the daily withdrawal limit of 4–5% and the maximum total withdrawal of 10%.
- Goat Two-Step: Less strict withdrawal rules and slightly lower profit targets.
- Standard Two-Step: Adheres to the public company model but requires higher profit targets.
The funding path in this model is clearer, but you have to start the process over if you don’t complete Step 2.
Three Step Challenge
A consistent ranking system, the Three-Step Challenge has a maximum drawdown limit of 8% and a profit requirement of 6% per period. By focusing on stable performance and good trader control, this structure aims to eliminate high-risk strategies. The three-stage requirement is a bit complicated to raise capital. But if you value long-term risk management over short-term profits, this model provides a systematic way to prove your trading performance is sustainable.
Instant Funding
You can start trading with real money without going through the assessment process if you have an Instant Deposit account at Goat Funded Trader. Goat Funded Trader has strict risk regulations, including a 3-4% daily withdrawal limit and a 6-8% maximum, although there are no profit targets.
Although low risk and high fees, instant funding allows for immediate profit sharing and requires a very successful trading strategy. Since there is no review period, the initial fees are more expensive than a regular review account.
Scaling strategy
Over time, you can grow your funded account to $800,000 if you continue to generate consistent profits. However, the expansion process is opaque and you must meet Goat Funded Trader’s internal performance standards.
For high-performing traders, Goat Funded Trader advertises profit sharing of up to 100%, but it is unclear what the specific requirements are to achieve this. GFT lacks transparency on the criteria and only discusses performance-based account growth in general, unlike some other firms that offer comprehensive expansion plans.
GFT Trading Platform
Goat Funded Trader supports three platforms: Match-Trader, TradeLocker, and MT5. However, traders who are familiar with these platforms may find it inconvenient that MT4 is not available.
MT5
The popular multi-asset trading platform MT5 offers fast order execution, sophisticated charting, and automation support with scripts, indicators, and EAs. If you are familiar with the MetaTrader ecosystem, this is the best choice. MT5 is accessible via mobile, web, and desktop platforms. However, Goat Funded Trader restricts the use of EAs and may require proof of ownership of the source code.
TradeLocker
The TradeLocker web platform integrates with TradingView and is suitable for users who prefer TradingView’s charting features. The interface is modern, friendly, and easy to use on both desktop and mobile. The platform can sync across multiple devices and does not require any software installation since it is browser-based. However, since TradeLocker does not have any automation features, MT5 is better suited if you are using scripts or bots.
Match-Trader
Match-Trader is a lesser-known trading platform that focuses on real-time market data and execution speed. For traders who prefer a simple, mobile, all-in-one trading experience, Match-Trader combines analytical tools, economic news, and mobile compatibility. However, if you rely on trading bots or scripts, Match-Trader is not the best choice because, similar to TradeLocker, it lacks strong support for automation tools like EAs.
Goat Funded Trader Trading Fees
Despite having one of the lowest forex commissions, Goat Funded Trader lacks liquidity and spread transparency. Due to the lack of data, it is difficult for traders to determine whether the advertised raw prices are truly competitive and reliable.
Commission Fee
Thanks to its low fees, Goat Funded Trader is perfect for scalpers and day traders. The platform charges a commission of $2.50 per forex lot. The company does not charge commissions for other assets such as indices, commodities, and cryptocurrencies, but the spreads are not clearly disclosed.
Fee Spread
Goat Funded Trader does not publish specific data, but they advertise spreads as low as 0 pips. Since GFT does not have an average spread table, unlike regulated brokers, it is difficult for traders to gauge the true competitiveness and compare costs between currency pairs.
Support did not provide a spread range, so requests for clarification did not yield any specific information. Due to the lack of transparency, traders cannot determine whether spreads are widened to compensate for lower commissions or whether GFT’s prices are actually competitive with those of ECN brokers.
Payment and withdrawal of profits
Goat Funded Trader offers a transparent profit withdrawal process for funded accounts and accepts multiple payment methods for funded trades. However, there are some restrictions on minimum withdrawal requirements and profit limits for the first two withdrawals.
Payment options
You can pay for challenges using bank transfer, Visa/Mastercard, or cryptocurrency (USDT, Bitcoin, Ethereum), depending on where you live. However, Goat Funded Trader does not support PayPal or e-wallets, which limits your payment options if you don’t use cryptocurrency.
Profit payout policy
You have 30 days after depositing to request a withdrawal. However, Goat Funded Trader offers faster withdrawal options through unique payment methods and add-ons.
- Standard Schedule: After your first transaction in a funded account, payments will be received every 30 days.
- Bi-Weekly Payments (Additional Requirement): As part of the challenge, you must purchase an upgrade package to be able to withdraw funds every 14 days.
- On-Demand Bonus (Early Payout): You can withdraw 40% of your profit after just three trading days, the remaining 60% will stay in your account until the next payout cycle.
With Goat Funded Trader, traders have to wait 30 days for their first withdrawal unless they purchase the express withdrawal add-on, as opposed to many other companies that allow weekly withdrawals.
Processing times may vary depending on the payment method, but typically take 2-3 business days. The minimum withdrawal amount is $100. Only 6% of your account balance can be withdrawn in the first two withdrawals, any remaining profits will be held for payment in subsequent periods.
Customer Support
You can contact Goat Funded Trader via email or live chat. The website has a live chat feature, which usually answers simple questions quickly. However, detailed issues like accounts or payments can take longer. You can email support, but it can take up to 24 hours or more to get a response. According to some users, support can sometimes be unclear when answering specific questions, especially regarding leverage and spreads. You may need to contact multiple times to get a full response if you need a quick and complete response.
Goat Funded Trader Review Is It Worth Investing?
With thousands of members, Goat Funded Trader is a popular online trading community. However, TrustPilot is facing mixed reviews. Some traders have mentioned platform issues, slow payouts, and poor customer service. Many are concerned about the company’s transparency and true credibility, despite the company regularly sharing success stories.
With over 3,000 reviews, Goat Funded Trader has a TrustScore of 4/5 on TrustPilot. 67% of these reviews are 5 stars, praising the fast payouts and easy review process. However, 17% of the 1-star reviews highlight issues with platform errors, slow support, and transparency. Specifically:
- Some traders have to wait weeks or months to receive their money due to delayed or rejected payments.
- Account breach without reason, trader alleges their account was closed despite being within withdrawal limits.
- Platform freezes, slippage and improper trade closing.
- Customers have complained about slow and generic responses from an unenthusiastic customer service department.
GFT has been accused by some traders of improper promotions, manipulating spreads, and withholding payouts using hidden rules. While some participants have been paid, there is still controversy over the stability and reliability of the platform.
Through Goat Funded Trader Review. While Goat Funded Trader has built a thriving online community, reviews on TrustPilot highlight a number of issues, such as inconsistent customer service, delayed payouts, and unclear policies. Despite positive experiences, many traders report rejected withdrawals, so it’s worth considering carefully before joining.