Gold Fund Trader, operating under the registered name GFund Technologies in UAE, announced its permanent closure after five months of operations, facing several challenges that led to this decision.
Two main reasons for the prop firm Gold Fund Trader's cessation:
- Launch delays leading to investor withdrawal
- Cash flow issues
Launch Delays Lead to Investor Withdrawal
The company initially planned to launch on August 15th. However, delays due to web designer issues and technical provider problems led to a major investor's withdrawal.
Despite these setbacks, Gold Fund Trader proceeded with the launch, distributing approximately 150 accounts through giveaways, but only generated $600 in sales from evaluation accounts thereafter.
Cash Flow Issues Force Gold Fund Trader's Closure
Of the 160 accounts created, 158 were obtained through giveaways, with the company reporting 90 active accounts, no funded accounts or pending payments, and total active evaluation size under $1 million.
Due to cash flow issues and lack of liquidity, the company decided to cease operations. The founders stated they chose not to engage in unethical practices to maintain the business. Gold Fund Trader explored potential acquisition offers from other prop firms but reached no agreements.
Meanwhile, according to Foreign Media Finance Magnates, another prop firm, Fundedlions, has suspended operations and is transitioning to MetaTrader 5. The CEO has advised users to temporarily avoid accessing their accounts during this period.
In communications with clients, these issues were attributed to Dominion Markets, claiming the company had previously faced challenges with this technical provider. According to statements on the company's official Discord, Dominion Markets recently quadrupled account creation costs and introduced additional fees.
Reference：Prop Firm Gold Fund Trader Pulls the Plug after $600 in Sales and Funding Setbacks
