Goat Funded Trader Review: Not The Greatest But Still OK

The lack of regulation makes discerning a prop trading company’s legality that much more difficult. Still, some firms have better reputations and partners than the rest.

While this company makes an interesting offer of services, there are certainly areas where they fall short. Read more in our Goat Funded Trader review.

Carefully Hidden Offshore

At first glance, it may seem that the Goat Funded Trader prop firm is based in Spain, where legal supervision is among the strictest in the world. 

However, if you study the company address more carefully, you will see that the business is actually registered in the Canary Islands. The Spanish register of companies clearly shows this. In addition, legal documents on the site itself state that the Supreme Court of the Canary Islands has exclusive jurisdiction in settling disputes. 

As soon as you see that the agency operates from offshore, you can be sure that something is fishy. Loose laws are the main reason why many firms base their operations in gray zones. This is in stark contrast to Tier-1 firms like Louis Capital. The company’s CEO is Edoardo Dalla Torre, who claims to be a multimillionaire at 23, like all other self-made, alleged Forex gurus.

Suspicious Liquidity Provider

Since this information was omitted from the site, we went to the support agent with our question about the firm’s broker partner. It turns out that the trading server is owned by Succedo Markets from St. Lucia – another offshore area.

This small nation doesn’t regulate FX providers, so brokers registered there follow not a single legal directive.

Website Traffic and Reputation

Goatfundedtrader.com is a very recent platform, being created in 2023. The website doesn’t see a lot of visitors, the majority of which are from these nations:

• Canada
• Italy
• United Kingdom
• Belgium
• Germany

With the website so young and with so little traffic, it begs the question – who’s writing all the reviews? Goat Funded Trader TrustPilot page has over 2,500 ratings, 79% of which are positive.

Negative comments talk about the company refusing to release payments, or failing to grant a funded account after passing evaluation. We remind our readers that numerous unscrupulous groups like UFMinvest pay review seller networks to boost their rep.

Several Trading Solutions

Clients may opt to choose between a number of trading apps:

• Match Trader – Heavily relies on charts imported from TradingView. It is currently supported only by a handful of brokerage houses, but the app is seeing rising popularity with prop firms.
• TradeLocker – Advertised as a next-gen trading app. It features advanced functionality like AI-assisted script generation for automatic trading execution. The app is heavily oriented towards prop firms.
• MetaTrader 5 – Industry-leading trading application. Features multiple timeframes, trailing orders, and copy trading solutions amongst many other advanced functions.

None of the programs are readily available for download from the client dashboard, which in itself fails to impress. The entire client area is flooded with buying incentives, but otherwise feels unfinished.

Overview of Trading Challenges

Goat Funded Trader funded account pricing is influenced by the number of steps, and by the choice of trading apps and funding amount. For each of the challenge types, there are Standard and GOAT subtypes as well. The minimum funding is $5,000, with a maximum of $200,000.

The cheapest challenge is the GOAT Mach Trader 2-Step 5K Challenge, which costs $22. The most expensive is the Standard TradeLocker Instant 50K challenge, which costs $1,534. For more information, visit the company website.

The following instrument groups are available for trading:

• Forex
• Metals
• Indices
• Stocks

Goat Funded Trader discount 25% discount for a limited time – doesn’t say when it ends

Trading Terms – Leverage and Fees

Overall conditions are in line with those of more mainstream prop firms. Profit targets range from 6% to 10%, depending on the account type. Daily drawdown limit is set between 4% and 5%, with a maximum drawdown of up to 10%

Leverage varies depending on the type of trading app used. For traders using Match Trader and MT5, the maximum is 1:30. Users of TradeLocker can expect higher leverage, up to 1:100.

Payouts and Profit Split

Profit split is well within industry averages, starting at 65% for GOAT and 80% for Standard accounts. This further scales up with progression, and reaches 95% for GOAT and up to 100% for Standard challenges.

Rewards are paid bi-weekly, with the minimum amount set at $100. Supported payment channels include bank cards (Visa, MasterCard, AmEx), cryptocurrencies (BTC, ETH), and bank wires.

The company really likes to talk on Goat Funded Trader Discord about the massive profits paid out to some of their traders. The reviews, however, tell a different story. Many high-earning users complain about their payouts being stuck in processing for the better part of the year, with some still pending after months.

Trade Here or Not?

It is certainly true that funded trading could potentially elevate your trading experience and help you thrive. This is especially important if you don’t have enough funds to put into your trading prospects. However, you should choose your prop firm carefully.

Despite seemingly good Goat Funded Trader reviews, this firm still shows signs of being an untrustworthy scheme. Lack of transparency and false advertising all point to potential risks. If you’re already struggling to make a withdrawal, contact our recovery agents immediately.

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