Topstep vs Goat Funded Trader – Prop Firms Comparison
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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 |
|---|---|---|
| CFD $10K Account | Not offered | USD 79 / Listed challenge / One-time |
| CFD $25K Account | Not offered | USD 149 / Listed challenge / One-time |
| CFD $50K Account | Not offered | USD 249 / Listed challenge / One-time |
| CFD $100K Account | Not offered | USD 449 / Listed challenge / One-time |
| CFD $200K Account | Not offered | USD 799 / Listed challenge / One-time |
| Futures $50K Account | USD 49 / Trading Combine / Monthly | Not offered |
| Futures $100K Account | USD 99 / Trading Combine / Monthly | Not offered |
| Futures $150K Account | USD 149 / Trading Combine / Monthly | Not offered |
| 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 |
Conclusion and Final Recommendation
Choose Topstep if you want a cheaper entry, from USD 49 and coverage of bonds that the other does not offer. Choose Goat Funded Trader if a larger funded ceiling at $400K, a lower 3-day minimum and coverage of cryptocurrencies that the other does not offer matter more to you. Neither firm is better in the abstract. The right choice depends on your strategy, your budget and the instruments you trade, so read both full reviews before you commit. Verify current rules and pricing on each firm’s own site before purchasing.
Frequently asked questions
What should I know about Topstep’s programs?
Topstep distinguishes Express Funded Account Standard and Consistency paths, followed by a separate Live Funded Account stage. Topstep official rules.
What should I know about Goat Funded Trader’s programs?
Goat Funded Trader offers multiple models. Its Pay Later model is a one-phase evaluation leading to a simulated funded account. Accounts bought from September 5, 2026 use a 3% evaluation target. Goat Funded Trader official rules.
How do payouts differ between Topstep and Goat Funded Trader?
The current payout policy lists a 90/10 split and a $125 minimum. Standard requires five winning days of $150 or more; Consistency requires three days and a 40% consistency target. Requests are subject to account-size caps. Topstep official rules.
The Pay Later model lists an 80% share and a 14-day payout cycle. These are model-specific terms, not a promise that every Goat account has the same payout arrangement. Goat Funded Trader official rules.
Which account rules matter when comparing Topstep and Goat Funded Trader?
Express payouts are generally limited to 50% of account balance up to the applicable cap. Legacy eligibility and optional daily-loss-limit arrangements can change the caps or split treatment. Topstep official rules.
For Pay Later accounts bought from September 5, 2026, the funded payout requirements include five qualifying days and a 30% consistency limit. The funded trailing maximum loss is tighter than during evaluation. Goat Funded Trader official rules.
Is Topstep or Goat Funded Trader automatically the better choice?
No. The two firms lead on different things: Topstep has the cheaper entry at USD 49 and market access the other lacks, namely bonds, while Goat Funded Trader has the larger funded ceiling at $400K and the lower 3-day minimum. Which of those matters more depends on how you actually trade, so compare how each firm measures drawdown, the total fee once add-ons and resets are included and the evaluation objectives for the exact program you buy, rather than the headline numbers. If you fail an evaluation, do not assume either firm offers a fixed reset discount: check the reset terms for the specific account you bought.
How We Compared Topstep and Goat Funded Trader
Both firms on this page carry a JoinProp Rating out of 10. We produce that rating with the same 9-factor methodology we apply to every firm we review: payout reliability (20%), fee structure (15%), drawdown rules (15%), profit split (15%), evaluation terms (10%), trading rules (10%), support access and responsiveness (5%), scaling plan (5%), and track record and transparency (5%).
The inputs come from our firm reviews, not from this page. For each firm we work from the current terms and conditions rather than marketing pages, track rule and pricing changes over time, and read payout and support reports across Trustpilot, Reddit and Discord, looking for recurring patterns rather than isolated complaints. Every firm is re-checked at least every 90 days, or sooner after a material change. Affiliate relationships have no effect on any rating, and ratings are never sold.
The tables above show the evidence behind those factors. A few rows, including trading platforms, available instruments, maximum account size and demo availability, are there to help you judge fit and do not affect either rating.
Read our full ranking methodology