This year,
GFT has twice moved away from MetaQuotes’ trading platforms, prompting the
search for suitable replacements. In response, the company first introduced
TradeLocker access and is now contemplating the inclusion of cTrader. GFT’s
CEO, Edoardo Dalla Torre, recently sought community feedback on this potential
addition.
GFT Explores cTrader and
New Features
This week,
Dalla Torre posted on GFT’s official Discord channel, hinting at the possible
addition of another platform to their lineup. “We heard you want cTrader
as well. Recently we introduced TradeLocker. Should we add cTrader?” the
CEO inquired.
The
consideration of cTrader comes on the heels of TradeLocker’s integration last
month. These new platforms are being introduced to fill the gap left by
MetaTrader, which GFT has abandoned twice this year. GFT was among the first
firms to withdraw MetaQuotes’ platform in February 2024 due to licensing
issues. Although the company briefly reintroduced popular trading tools, the
return was short-lived.
GFT x TradeLockerFaster FundingOn Chart TradingNo Payout Denials PolicyGET FUNDED NOW 🐐https://t.co/t15rnKVjMq pic.twitter.com/sqdiYab6m6
— Goat Funded Trader (@GoatFunded) August 13, 2024
A month
ago, Della Torre announced the need to discontinue once again
“Platform4,” the prop firm industry’s euphemism for MetaTrader 4.
This term is used by companies that lack direct licenses for the platform but
utilize their liquidity providers’ or brokers’ licenses to offer a grey-label
version to their users.
“Due
to multiple outages of Platform4 and our continuous commitment to ensure our
traders have a good trading experience, all Platform4 accounts will now be
migrated to MatchTrader,” Dalla Torre stated in July.
cTrader,
alongside TradeLocker and MatchTrader, has emerged as a popular choice for prop
firms transitioning away from MetaTrader. Its potential addition to GFT’s
offerings is likely to be well-received by the firm’s clients.
In addition
to gauging interest in cTrader, Della Torre also asked the Discord community
about desired new features for the platform. Options included 3-step challenges
with low entry prices, instant funding for direct funded accounts, or an
entirely new type of challenge.
The MetaTrader Dilemma
The prop trading sector experienced a significant upheaval when a major provider of grey-labeled MetaTrader licenses ceased its agreements with prop trading entities. This decision was prompted by MetaQuotes’ increased scrutiny of the prop industry, largely due to regulatory shifts in the US market.
As a result, many prop firms were forced to seek alternative platforms. While some have managed to reintegrate MetaTrader into their offerings, the situation remains precarious. The case of Goat Funded Trader (GFT) illustrates that the issues with MT4 and MT5 are far from resolved for many firms in the sector.
Adding to the complexity, prop firms now face heightened competition from regulated FX/CFD brokers. These established entities have begun offering prop challenges to their clients, leveraging their long-standing, direct agreements with MetaQuotes. This advantage allows them to provide the widely popular MetaTrader platforms without the interruptions or controversies that have plagued many prop firms.
This article was written by Damian Chmiel at www.financemagnates.com.
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