GFT Pauses Live Trading Amid U.S. Election Volatility Concerns

Goat Funded Trader (GFT) reportedly told its clients that it would pause trading on live accounts because of the upcoming U.S. presidential election. The firm described this as a “conservative measure” due to the “high volatility” expected.

In the prop trading world, it is usual to stop trading when prices change quickly, and many firms do not allow trading during major news events, a practice known as “news trading.” According to GFT, the U.S. election could bring strong market reactions, which led them to decide to pause all live trading during this time.

GFT Suspends Live Account Trading Amid U.S. Election Volatility

GFT’s official announcement, posted on social media, said, “Trading on all live accounts will be disabled from November 5th, 5 pm UTC, until November 6th, 1 pm UTC.” They reminded clients that all live simulated accounts must be closed before this time, or the system would close them automatically.

GFT said this only affects live accounts. Traders in the challenge phase can still use their accounts, but the firm advised caution. The statement continued, “The U.S. elections are expected to bring extreme volatility, which could lead to large price changes, wider spreads, slippage, and delays beyond our control.”

At the time of the report, Finance Magnates could not confirm if other prop trading firms had followed GFT’s example. Only Optimal Traders reported that they expect high market activity but are not blocking trading or news trading. They encouraged clients to be aware of risks and suggested staying out of trading during this time.

In past elections, U.S. markets have shown different reactions. The dollar, stocks, commodities, and Bitcoin all can be affected by investors’ views on possible new policies.

For example, the dollar grew stronger after the 2016 election as markets looked forward to economic boosts, while in 2020, the dollar faced challenges from the pandemic and election results.

Bitcoin’s response to elections is a newer trend. In 2020, Bitcoin rose, possibly because people wanted a safer option in uncertain times. Right now, before this election, the dollar is reaching multi-month highs, Bitcoin is close to record peaks, and gold has also reached new highs.

GFT Expands Platform Options With Launch Of cTrader

GFT also announced the addition of the cTrader platform, a popular trading tool from Spotware. This update follows earlier changes this year, including the launch of TradeLocker and the end of MetaTrader support.

GFT had hinted about cTrader on social media, leading some traders to guess it was coming. GFT confirmed the launch and is offering discounts on trading challenges with the code CTRADER to celebrate.

The company has been exploring new options for trading platforms since moving away from MetaQuotes’ platform in February 2024.

In September, Chief Executive Officer Edoardo Dalla Torre reportedly noted that clients had shown interest in cTrader. A report revealed that Dalla Torre had asked if clients wanted cTrader as well, noting that TradeLocker had recently been introduced and questioning if cTrader should be added.

Reports revealed that two months afterward, GFT launched cTrader in response to this client interest. It was stated that GFT had been one of the first to stop using MetaQuotes’ platform in early 2024 due to licensing issues, briefly returned to it, and then shifted to other trading tools.