GoFunding Forex prop firm review

GoFunding Forex prop firm review

GoFunding prop firm offers funded challenges. The funding options range from 10k to 400k USD, which is decent. The profit split is up to 80% which is decent but still slightly below what most firms offer. The pricing starts at 50 USD for the smallest 2-step challenge and 100 USD for the 10k 1-step evaluations. The firm allows traders to access multiple platforms including cTrader, DXtrade, and Match-Trader. 

In this unbiased GoFunding review, we will assess the firm’s safety, rules, funded options and types, assets, platforms, support, and more. After reading this review, you will be able to define whether to trust this firm. 

Pros & cons of GoFunding prop firm

ProsCons
Competitive pricing starts at 50 dollarsNo trader reviews on major platforms like the FPA and Trustpilot
Allows access to Multiple trading platforms including cTrader, DXTrade, and Match-TraderNo phone or live chat support
No commission on withdrawalsNo educational resources or trading tools offered
Offers up to 80% profit splitNo scaling plan for funded accounts
Offers both 1-step and 2-step challenge account typesNo multilingual support or website

Quick rating of GoFunding and its features

FPA ScoreNo ratings 
Year founded2024
HeadquartersUnited States
Minimum audition fee50 USD
Fees on withdrawals0 USD
Minimum funded amount10,000 USD
Maximum funded amount400,000 USD
Allowed daily loss5%
Profit target10%
Maximum trailing drawdown8%
Profit sharing (Payouts)80%
Trading PlatformsDXtrade, Match-Trader, cTrader
Available trading marketsForex, indices, commodities, and cryptos

Safety of GoFunding

There are no GoFunding reviews on the Forex Peace Army (FPA), which is a serious red flag for the firm’s safety. On Trustpilot, the firm has no reviews yet, which is another major red flag. The firm is young and lacks experience in the prop trading industry, as it was launched recently. All funded accounts are virtual accounts only, meaning traders can only access demo accounts, not live funded accounts. The firm is not backed by regulated brokers, which is yet another downside for the firm’s safety. 

The firm gets a 0 score in this section for lacking all crucial features of safety.

GoFunding Funding and maximum capital allocation

GoFunding funded programs are two, 1-step and 2-step types. The firm does not offer instant accounts, which is a minor drawback. The list of GoFunding funding options includes 10k, 25k, 50k, 100k, and 200k USD. All the GoFunding challenges offer the same range of funding options, which is a downside as well. The firm does not provide funded options below 10k USD which is disadvantageous for beginners and there are no funded challenges beyond 200k USD which is a drawback for experienced investors. 

GoFunding scaling plan is not available which is a serious drawback as traders can not grow their funded account balance. 

Overall, the firm gets a 3 score in this section. 

GoFunding Assets

GoFunding prop trading assets allowed include Forex pairs, cryptos, commodities, and indexes. The firm does not allow stock trading which is a downside. The leverage is different for each asset type including 50:1 leverage on Forex and Metals, up to 10:1 leverage on Indices, up to 5:1 leverage on Oil, and up to 2:1 leverage on Cryptocurrencies. 

The firm manages to get a 3 score in this section. 

GoFunding Trading rules and limitations

GoFunding rules are slightly different for each account type. Let’s compare them to see which challenge type is more attractive.

The 1-step GoFunding challenge has the following rules: 

  • Profit target - 10%
  • Daily loss limit - 5%
  • Maximum drawdown - 6% 
  • Minimum trading days - None
  • Maximum trading days - None

The 2-step GoFunding challenge has the following rules: 

  • Profit target - 8%, 5%
  • Daily loss limit - 5%
  • Maximum drawdown - 8%
  • Minimum trading days - None
  • Maximum trading days - No limits

News trading is not allowed, but traders can hold open positions over the weekends. Expert Advisors are allowed. 

As a result, the firm gets a 0.6 score in this section.

GoFunding Fees

The pricing starts at 50 dollars for the 2-step 10k challenge and at 100 USD for the 1-step challenge of the same funded option. Let’s compare pricing for each funded account type to see how competitive the firm’s offering is.

The 1-step GoFunding fees are:

  • Funded amount: 10k USD - One-time fee: 100 USD
  • 25k USD - 200 USD
  • 50k USD - 375 USD
  • 100k USD - 750 USD
  • 250k USD - 2000 USD
  • 400k USD - 3,600 USD

The 2-step GoFunding fees include:

  • Funded amount: 10k USD - One-time fee: 50 USD
  • 25k USD - 125 USD
  • 50k USD - 225 USD
  • 100k USD - 450 USD
  • 250k USD - 1,250 USD
  • 400k USD - 2,600 USD

As we can see, the pricing is very competitive but safety is still an issue and this firm is not recommended. 

GoFunding free trial is not available and the GoFunding free repeat is not offered, which is a serious downside, preventing traders from checking trading conditions or starting over for free.

As a result, the firm gets a 3 score in this section. 

GoFunding Platforms

The firm allows access to several advanced trading platforms such as DXtrade, Match-Trader, and cTrader. While DXTrade and Match-Trader are popular prop trading platforms, only cTrader allows custom indicators and automated trading systems. Mobile trading is available via the cTrader mobile app.

Overall, the firm gets a 3.9 score in this section. 

GoFunding Profit-Sharing

GoFunding profit split is 80% for both challenge types. There is no option for a 90% profit split, which is a downside. The firm does not charge commissions on withdrawals which are competitive. Withdrawal processing takes up to 72 hours, which is slightly long.

The firm gets a 2 score in this section. 

Education and trading tools at GoFunding

The firm lacks educational resources such as webinars, trading courses, or video guides. There is no trading blog available and the firm does not offer trading tools. 

The firm gets a 0 score in this section.

Customer Support at GoFunding

When it comes to customer support services, the firm offers email channels only. There is no phone support available, which is a red flag. There is no live chat either. Both the website and support are only available in the English language, which is a serious drawback.

Overall, the firm gets a 1.2 score in this section. 

Frequently Asked Questions on GoFunding

Is GoFunding legit?

A GoFunding scam is still possible as the firm lacks safety: is young, has few trader reviews, and is not backed by regulated brokers. 

Is GoFunding a good prop firm?

No, the firm offers competitive pricing and advanced platforms but lacks safety features and does not offer live chat or phone support options. 

What is the minimum GoFunding fee?

The smallest one-time fee starts at 50 dollars for the 10k USD 2-step challenge, which is very competitive.