Goat Funded Trader Adds TradeLocker Platform
The prop firm Goat Funded Trader (GFT) notified its customers this week that it would be adding the TradeLocker platform to its services. This move comes alongside a less pleasant announcement: another withdrawal from the MetaTrader platform service. Traders who were using MetaQuotes tools are now being migrated to the MatchTrader platform.
GFT was among the first companies to exit MetaTrader in February 2024 due to licensing issues. A month ago, the company announced that MetaQuotes trading tools would return to its lineup.
However, this didn't last long. On July 18, the company's CEO Edoardo Dalla Torre announced on Discord that it was necessary to once again withdraw from providing "Platform4," which is MetaTrader 4.
Dalla Torre stated, "Due to multiple failures with Platform4 and our ongoing commitment to ensuring traders have a good trading experience, all Platform4 accounts will now be migrated to MatchTrader."
He added that all open positions would be closed, and account balances would be transferred to new accounts on MatchTrader. The company is reportedly "working on integrating better and more stable Platform4 and Platform5 options, ensuring they will be available on mobile versions when they become available again."
Is it another licensing issue? It's hard to say, but it appears the platform had been preparing for this move for a few days, announcing the launch of a new platform earlier this week.
GFT officially announced the addition of TradeLocker to its trading platform suite on July 17 (the day before the decision to exit MT4). This information appeared simultaneously on X (formerly Twitter) and the company's Discord.
TradeLocker, along with MatchTrader, has become one of the most common platforms prop firms choose to migrate to after encountering issues with MetaTrader. For instance, Top Tier Trader did the same in February.
The Prop Firms' Dilemma with MetaTrader
The prop trading industry's issues with MetaQuotes platforms began in February when Purple Trading, which provided MetaTrader white-label licenses to prop trading entities, withdrew from its previous agreements.
Due to regulatory changes in the US, the owner of MetaTrader began cracking down on the prop industry and forced Purple to terminate services to prop firms. These companies started turning to alternative platforms, although many later reintroduced MetaTrader to their clients.
However, GFT's case suggests that the problems may not be fully resolved, and MT4 and MT5 may still pose issues for companies in the industry. Meanwhile, they face increasing competition from regulated forex/CFD brokers, who are also starting to offer prop challenges to clients. These brokers have an advantage in their long-standing direct agreements with MetaQuotes, allowing them to offer retail traders' most popular platforms without interruption or controversy.
Reference：Prop Firm Goat Funded Trader Ditches MetaTrader (Again) and Adds New Platform
