Proprietary trading company Goat Funded Trader announced that it has officially opened its own broker, complete with a newly acquired MT5 license.

With the announcement of its officially licensed MetaTrader 5 (MT5) platform, GFT aims to give traders direct access to more tools and services.

Goat Funded Trader Brings Back MT5

“GFT has officially opened its own Broker and obtained its official MT5 license. At GFT, we make sure our traders get it all…and more!” the company wrote on X. “IT’S OFFICIAL: MT5 is BACK.”

To celebrate the launch, Goat Funded Trader rolled out several promotions targeting both new and existing users. Current offers include up to 65% off on $5,000 trading challenges and up to 35% off sitewide.

Additionally, traders can reportedly access the $5,000 Goat Challenge for just $17 and the $100,000 Goat Challenge for $268, with the promotional code “MT5” applied automatically.

Challenges with MetaQuotes

Last year, Goat Funded Trader announced major changes to its offerings. The company informed its users that it was introducing a new platform, TradeLocker.

This move followed another announcement that the company was withdrawing services from MetaTrader platforms for the second time. The firm migrated traders who had been using MetaQuotes to MatchTrader.

“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.

More prop trading companies are now bringing back MT5 after the regulatory issues that impacted the industry in early 2024. Recently, the challenge-based prop firm Wall Street Funded joined the ranks of licensed retail contract-for-difference (CFD) brokers after obtaining authorization in the offshore jurisdiction of St. Lucia.

While more prop companies have taken similar steps to directly purchase MetaTrader licenses from MetaQuotes, most others have opted for the increasingly popular and even more exotic location, the Island of Comoros.

Instant Funding, another prop trading firm focused on the forex markets, brought direct trading capabilities through MT5 after acquiring its own “main label” license.

This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More

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