Topstep vs Goat Funded Trader – Prop Firms Comparison
Introduction
Topstep and Goat Funded Trader sit at opposite ends of the prop trading spectrum. Topstep, founded in Chicago in 2012, is the firm credited with inventing the modern evaluation-based funding model. It works exclusively with CME Group futures, runs on its own TopstepX platform, and has paid out more than a billion dollars to funded traders. Goat Funded Trader, launched in 2022 and registered in Saint Lucia and Hong Kong, is a newer multi-asset firm covering Forex, indices, metals, commodities, and crypto across MT5, TradeLocker, and Match Trader. Despite being only a few years old, it has built a community of more than 250,000 traders and processed $13 million-plus in payouts. If you trade futures, Topstep is the obvious answer. If you trade Forex or want multi-asset access with very low entry pricing, Goat Funded Trader is the more flexible option.
Quick Facts
| Feature | Topstep | Goat Funded Trader |
|---|---|---|
 |  | |
| Founded | 2012 | 2022 |
| Profit Split | 100% first $10,000, then 90/10 | 80-90%, scaling to 100% |
| Maximum Account Size | $150,000 | $400,000 |
| Evaluation Phases | 1 | 1-Step, 2-Step, 3-Step, Instant Funding, Goat $1 |
| Trustpilot Rating | 3.4 | — |
| Expert Grade | 9 | 8.2 |
Program Types
| Program | Topstep | Goat Funded Trader |
|---|---|---|
| Entry Level Program | Yes | Goat $1 |
| Advanced Program | — | 1-Step |
| Scaling Options | No | Yes |
| Demo Account | No | No |
Rules & Assessment
| Criteria | Topstep | Goat Funded Trader |
|---|---|---|
| Profit Target | 6% | 10% (1-Step), 8%/5% (2-Step), 15% (Goat $1) |
| Maximum Drawdown | Trailing MLL: $2,000-$4,500 | 6% trailing (1-Step), 10% static (2-Step) |
| Minimum Trading Days | 5 | 3 |
| News Trading | Yes | Yes |
Fees & Pricing
| Option | Topstep | Goat Funded Trader |
|---|---|---|
| $10K Account | — | $79 |
| $25K Account | — | $149 |
| $50K Account | $49 | $249 |
| $100K Account | $99 | $449 |
| $200K Account | — | $799 |
| Refund Policy | — | 100% member refund on challenge failures |
| Coupons / Discount | Topstep discount | Goat Funded Trader discount |
Platforms & Markets
| Feature | Topstep | Goat Funded Trader |
|---|---|---|
| Trading Platforms | TopstepX | MetaTrader 5, TradeLocker, Match Trader |
| Forex | Yes | Yes |
| Stocks | No | No |
| Indices | Yes | Yes |
| Commodities | Yes | Yes |
| Cryptocurrencies | No | Yes |
| Bonds | Yes | No |
| EA/Algo Trading | Yes | Yes |
Payout
| Feature | Topstep | Goat Funded Trader |
|---|---|---|
| Payout Terms | Bi-weekly via ACH, wire, or Rise; $50 minimum | Bi-weekly, 80-90% baseline scaling to 100% |
| See all prop firm payouts → | ||
Verdict
| Key Element | Topstep | Goat Funded Trader |
|---|---|---|
| Strengths | Industry pioneer, generous first $10K profit split, no time limits, EAs permitted, no daily loss limit, $1B+ paid to traders | Fast 24-hour payouts, No time limits, Swap-free Islamic accounts, Scaling to $2M, Low $1 entry point |
| Weaknesses | Monthly subscription fees compound, $149 activation fee, TopstepX platform exclusive, futures-only, trailing MLL can catch intraday profit-takers | Limited backtesting, Higher initial payment, Dashboard glitches, Unregulated (Saint Lucia/Hong Kong) |
| Best For | Serious futures traders seeking established firm with forgiving evaluation | Disciplined traders managing trailing drawdown risk; Islamic-compliant trading |
FAQ
Can I trade Forex on Topstep?
No. Topstep deals exclusively in CME Group futures contracts (ES, NQ, CL, GC, ZB and the rest of the CME suite). If you want to trade Forex pairs, indices CFDs, or crypto, Goat Funded Trader is the correct choice between the two.
Which firm has the better profit split for new funded traders?
Topstep is more generous on the first $10,000 – the trader keeps 100% of those profits, then 90% afterwards. Goat Funded Trader starts at 80–90% and scales upward to 100% for consistently profitable traders. For early payouts on smaller accounts, Topstep typically pays out more.
Are EAs and automated strategies allowed at both firms?
Yes, both permit Expert Advisors. Goat Funded Trader requires you to be able to demonstrate ownership of the EA’s code if asked, and bans third-party EAs marketed specifically as challenge-passing tools. Topstep allows EAs with no comparable restriction.
How quickly can I get a payout?
Topstep funded accounts can request bi-weekly payouts after a minimum holding period, and daily payouts unlock after 30 consecutive winning days. Goat Funded Trader runs a bi-weekly cycle with the first two payouts capped at 6% of the account size, after which the full profit share applies.
Does Topstep still offer a two-step evaluation?
No. New Topstep traders use the single-phase Trading Combine®. There is one evaluation followed by a Live Funded Account; the older two-step structure is no longer the active product.
How was this 2 companies Comparison Created?
1. We Collect
We pull each firm’s public-facing rules, fees, drawdown parameters, profit splits, platforms, and supported markets from their official documentation and our own JoinProp reviews.
2. We Examine
Each criterion is normalised so the two firms are compared on the same axis – for example, “drawdown” is broken down into trailing vs static, intraday vs end-of-day, and any reset conditions.
3. We Score
Where one firm offers a meaningfully better term – lower fees, broader markets, more permissive rules – we identify it and explain the trade-off.
4. You Choose
The conclusion is written so you can match a firm to your trading style: instrument coverage, evaluation tolerance, and payout cadence are the three filters most traders should care about.