Goat Funded Trader Review and Analysis
Overview
Established in May 2023, Goat Funded Trader has quickly made a name for itself as an emerging proprietary trading firm, gaining traction across Spain and beyond. The company offers traders a variety of funding options, including three two-step evaluations and a streamlined one-step process, catering to different trading styles and skill levels. Goat Funded Trader provides an opportunity for ambitious traders to prove their expertise and earn substantial profits by managing simulated funds. With a focus on discipline, risk management, and tailored global regulatory insights, the firm is dedicated to cultivating a thriving community of skilled traders capable of navigating the complexities of the financial markets.
Funded Accounts
Goat Funded Trader offers a diverse range of capital access through multiple funded account types, including 1-step, 2-step, and No Time Limit challenges. The firm provides various funding options, with the 1-step evaluation offering account sizes of $15k, $25k, $50k, $100k, and $200k. In the 2-step evaluation, funding starts at $5k, going up to $200k, with account variations like Goat, No Time Limit, and Classic. The Goat account offers $8k to $100k funding, while both the No Time Limit and Classic accounts provide $5k to $200k funding ranges.
These flexible funding options allow traders to choose the account size that best suits their strategy. Additionally, Goat Funded Trader's scaling plan enables traders to merge accounts and scale up to $800k in funding. While the firm offers a wide selection of funding options, it lacks $1,000 and $1 million account sizes, which slightly limits its appeal for traders seeking higher capital.
Challenge Overview
Goat Funded Trader offers a generous set of rules designed to provide flexibility for traders. There are no time limits or minimum trading days, allowing traders to hold positions overnight and over weekends. News trading is permitted, though profits made within 2 minutes before and after major news events, as marked on the Forex Factory calendar, are flagged and removed to avoid speculative trading. Crypto trading is available over weekends, and stop-loss and take-profit orders are not mandatory, offering flexibility in trading styles.
Traders must keep accounts active, as accounts inactive for 45 days are closed. While Expert Advisors (EAs) are allowed, High-Frequency Trading (HFT) robots are banned, and the firm may request EA codes for verification. Hedging is strictly prohibited, leading to instant disqualification if used. The profit targets differ based on account type: No Time Limit challenges require 8% and 5% for phases one and two, Classic challenges need 7% and 5%, and Goat challenges have 8% and 6%. The maximum drawdown and daily loss limits also vary, with the Goat evaluation set at 10% and 5%, and No Time Limit and Classic evaluations having slightly lower thresholds.
Pros and Cons
Let’s talk about the good stuff …
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Ability to withdraw with $0 fees
- Allows positions to be held overnight, over weekends, and permits trading robots
- Offers up to 95% profit sharing, one of the highest in the industry
- Offers a wide range of funded accounts and access to diverse assets
- Provides various discounts on audition fees, making it more accessible
Goat Funded Trader stands out with several key advantages that make it an attractive option for traders. One of its notable features is the ability to withdraw profits with zero fees, ensuring traders keep more of their earnings. Additionally, Goat Funded Trader allows positions to be held overnight and over weekends, providing more flexibility, and permits the use of trading robots (EAs), giving traders the freedom to automate their strategies.
The firm also offers up to 95% profit sharing, one of the highest in the industry, ensuring traders maximize their returns. With a wide range of funded accounts and access to diverse assets, Goat Funded Trader accommodates traders of all levels and strategies. To further enhance accessibility, the firm provides various discounts on audition fees, making it more affordable for traders to get started.
...and the bad
Goat Funded Trader has some limitations that traders should consider. While news trading is permitted, profits generated around major news events may be voided, reducing the potential gains from volatile market conditions. Additionally, the platform offers limited educational content, which could be a drawback for traders seeking to learn or improve their skills.
Moreover, Goat Funded Trader charges fees per lot on commodities and forex pairs, which could reduce overall profits, especially for high-volume traders. These factors may affect the overall trading experience, particularly for those looking for more educational resources or cost-efficient trading conditions.
Evaluation Metrics
Overall metrics
- Challenge difficulty: Goat Funded Trader challenges allow traders to choose from a wide variety of account sizes and styles to give them flexibility. Goat Funded Trader scaling plan allows traders to merge accounts and get up to 800k funding.
- Customer support: Goat Funded Trader provides customer support through live chat and email, featuring an advanced plugin with a built-in help center. While there is no hotline support and lack of multilingual options , assistance is available on Discord, and the firm maintains an active presence on social media.
- Fee:
Goat Funded Trader offers competitive pricing and discount opportunities for traders. Upon initial sign-up, traders can benefit from a 20% discount, with additional discounts available based on funding amounts: 22% for accounts between $8,000 and $25,000, 13% for accounts between $50,000 and $100,000, and a general 10% discount. The firm charges $0 per lot for trading cryptocurrencies and indices, making it advantageous for these assets. However, fees are $5 per lot for commodities and $7 per lot for forex pairs.
- Payout scheme: Goat Funded Trader offers a flexible and attractive profit withdrawal system. Traders can start withdrawing profits 24 hours after their first trade, provided they have achieved at least 3% profit on their account. After the initial payout, traders have options for monthly, weekly, or biweekly withdrawals. The firm boasts a high profit split of up to 95%, allowing traders to withdraw their profits on demand. However, the withdrawal process can take up to 72 hours, which is longer than the industry average of 24 hours.
Meet the CEO
Edoardo Dalla Torre, a 25-year-old day trader and entrepreneur from a small Italian town, embarked on an unexpected journey at 14 when he was recruited to play basketball in the USA. Financial challenges forced him to return to Italy at 18, where he was struck by the disparity in living standards. This realization drove his ambition to excel in trading and pursue a better lifestyle. Despite setbacks in his basketball career, Edoardo focused intensely on trading, eventually discovering proprietary trading firms. His dedication led him to secure over $1,000,000 in capital, a feat that fueled his entrepreneurial spirit and inspired him to found GOAT Funded Trader, marking a significant achievement in his career.
Frequently Asked Questions (FAQs):
How trusted is Goat Funded Trader?
The trusted source of information on fintech matters SBO, gave Goat Funded Trader a 2.63/ 5.00 rating based on analysing 20+ criteria and testing. Goat Funded Trader is currently in 20th place in this ranking. FunderPro is currently rank as the number one.
