It is important to take note of goat funded trader supported and restricted countries. CEO Edoardo Dalla Torre established Goat Funded Trader in 2022 as a proprietary trading firm (prop business) that gives traders access to funds so they can trade a variety of financial instruments. The firm has an operational presence in Hong Kong and is headquartered in Spain. Goat Funded Trader has distributed more than $4.4 million to traders and gives them access to a maximum capital of $800,000, with the possibility of scaling up to $2 million. It does, however, have certain guidelines and limitations, such as a list of goat funded trader supported and restricted countries which will be studied in this article.
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Goat Funded Trader Supported Countries
Although it doesnāt specifically mention every country it supports, Goat Funded Trader specifies the nations from which it does not accept traders. For the most recent information, it is important to check with Goat Funded Trader directly via their official resources, however it is reasonable to assume that any country that is not on the restricted list is supported.
Goat Funded Trader Restricted Countries
A list of goat funded trader restricted countries includes:
- Russia
- Cuba
- Sudan
- Somalia
- Iran
- Lebanon
- Syria
- North Korea
- Libya
- Vietnam
Payment exchange account constraints are the cause of these restrictions. Itās crucial to remember that regulatory updates and the rules of their clearing and brokerage partners may cause these limitations to alter.
Justifications for Restrictions
International laws, penalties, and restrictions on payment processing are frequently cited as the causes of these restrictions. Financial institutions and prop firms are subject to a number of legal and regulatory obligations, including those pertaining to counter-terrorism funding (CTF) and anti-money laundering (AML). To reduce risk, nations with weak financial control or those under international sanctions are frequently added to restricted lists.
Payment Methods and Country Limitations
To make payouts easier, Goat Funded Trader makes use of payment processors such as Rise. The availability of services may be impacted by these payment providersā lists of supported and restricted countries. Itās crucial to consult Rise official list of nations that accept and reject payments.
Effect on Traders
Goat Funded Trader does not allow citizens or residents of restricted countries to receive money or rewards. Because it restricts their access to international trading prospects, this can be a major obstacle for traders in these areas. Since it is their duty to abide by their nationās laws, traders need to be aware of these limitations and any modifications.
Alternative Options
It can be necessary for traders in nations with restrictions to look into alternative prop providers with different policies. Some firms might support a wider variety of nations or provide alternate payment options that cater to traders in particular areas. Finding a prop firm that fits your unique situation and region requires careful investigation and comparison.
Compliance and Due Diligence
Like other financial service providers, Goat Funded Trader is required to carry out extensive due diligence to guarantee adherence to relevant laws and regulations. This entails checking the location and identity of their traders as well as keeping an eye on transactions for any unusual activity. Additionally, they may check people against lists of sanctioned individuals, such as the Specially Designated Nationals and Blocked Persons list (āSDN Listā). Those on the SDN List will be instantly violated, their profits will be withheld, and they will not be able to make any payments.
Modifications to Restrictions
Regulatory updates and limitations imposed by brokerage and clearing partners may cause changes to the list of goat funded trader restricted countries.
To make sure they are still able to participate, traders should frequently check for updates. Changes could be brought about by shifting international sanctions, shifting geopolitical conditions, or adjustments to payment processing regulations.
Guidelines for Goat-Funded Traders and Prohibited Techniques
To guarantee ethical and legal trading methods, Goat Funded Trader has some guidelines and banned tactics.
Rules for Gambling
Goat Funded Trader forbids the following actions that are regarded as gambling:
- Retaining at least 50% of your trades for less than a minute.
- Reduce the loss by making five trades in the same losing direction.
- Making the first trade ārisk-freeā by shifting the stop loss to breakeven after executing a second trade on the same position.
- Retaining a position or positions in anticipation of a single tradeās success or failure (permitted in swing accounts).
Strategies Prohibited
The following are some methods that Goat Funded Trader restricts:
- Arbitrage of latency
- Making use of confidential or insider information, such as signals
- Using several accounts or the same account for hedging
- Off-the-Shelf EAs (Expert Advisors)Ā
- Front Running Trades
Other Important Rules
- Daily Drawdown Calculation: The daily drawdown is equity based, recalculated based on equity or balance, whichever is higher, at 5 PM EST. This means the drawdown limit can change based on the accountās performance.
- Trading Commissions: Commissions vary depending on the instrument. For cryptocurrencies, indices, and commodities, the commission is $0 per lot, while for forex and metals, it is $5 per lot.
In conclusion
A well-known prop firm that gives traders access to funds and the ability to trade a variety of financial assets is Goat Funded Trader. The firm does, however, have certain limitations, such as goat funded trader supported and restricted countries. International laws, penalties, and restrictions on payment processing serve as the foundation for these restrictions. To guarantee a profitable and legal trading experience, traders must be aware of these limitations and abide by all company rules and regulations.
Frequently Asked Questions
Why Does Goat Funded Trader Restrict Certain Countries?
- Restrictions are primarily due to regulatory compliance issues and legal standards that prevent foreign financial services firms from operating within certain jurisdictions.
How Can I Verify If My Country Is Supported By Goat Funded Trader?
- You can check your eligibility by visiting Goat Funded Trader official website or reviewing their terms of service for the most current list of supported and restricted countries.
What Should I Do If My Country Is Restricted?
- If your country is on the restricted list, consider exploring other proprietary trading firms that may offer similar opportunities without geographical limitations.
