Proprietary trading firm Goat Funded Trader (GFT) has announced a temporary suspension of live trading accounts during the U.S. presidential election period, from November 5 to 6, as a precautionary measure against anticipated market volatility.
Election-Driven Trading Halt and Cautionary Measures
GFT informed its clients via social media that trading on all live accounts would be disabled from November 5, 5 pm UTC, until November 6, 1 pm UTC. This step aligns with common industry practices where firms limit trading during high-risk events to manage extreme price fluctuations. GFT has advised clients to close all open positions in live simulated accounts before the deadline, as any remaining positions will be automatically closed by the system.
This restriction applies only to live accounts; traders in challenge phases can continue trading, though GFT strongly advises caution during this period. “The U.S. elections are expected to bring extreme volatility, causing potential slippage, spread widening, and execution delays,” GFT stated.
At the time of publication, no other proprietary firms had confirmed similar measures, though Optimal Traders advised clients to be aware of elevated market volatility without blocking trading.
Market Reactions to U.S. Elections
Historically, U.S. elections have impacted various markets, from the dollar and commodities to stocks and cryptocurrencies. The 2016 election saw a stronger dollar as investors anticipated policy changes, while the 2020 election brought uncertainty that weighed on the dollar and drove demand for assets like Bitcoin. Current election anticipation has already pushed the dollar to multi-month highs and driven gains in Bitcoin and gold.
GFT’s New Platform Addition: cTrader
In a recent update, GFT introduced cTrader, Spotware’s popular trading platform, adding it to its suite of trading tools following community feedback. This launch follows GFT’s earlier introduction of TradeLocker in July and discontinuation of MetaTrader due to licensing issues. The cTrader launch includes a promotional discount on trading challenges with the code “CTRADER.”
CEO Edoardo Dalla Torre acknowledged client interest in the platform, stating, “We heard you want cTrader as well. Recently we introduced TradeLocker. Should we add cTrader?” With cTrader now available, GFT continues to enhance its offerings, focusing on alternative trading solutions in response to trader demand.
GFT’s proactive approach during high-stakes events and its platform diversification underline the firm’s commitment to managing risk and meeting client needs in the evolving trading landscape.
