In the rapidly expanding world of prop firms, Gold Fund Trader stands out—not as a success story but as a complete disaster. From the very beginning, this prop firm was plagued by mismanagement, lack of integrity, and financial incompetence. They promised traders the world, but ultimately, they delivered nothing but empty accounts and broken promises.
Let’s dive into the details of how Gold Fund Trader scammed traders with a false promise of legitimacy and funding, only to close down before ever properly launching.
A Shaky Start Built on Lies
Gold Fund Trader tried to position itself as a legitimate prop firm, even going as far as to register in the UAE under the name GFund Technologies. They claimed to have been working on the project for five months, yet their operations were clearly underfunded, unprofessional, and disorganized from the start.
In their pitiful final statement, they revealed that the firm was relying on a single investor for a $250,000 funding commitment. This should have been the first red flag—a prop firm with no secure funding base is a disaster waiting to happen.
They then blamed their failed launch on everything from their web designer’s location in Bangladesh to political violence in that region. If a web designer’s situation can sink your entire launch, how could they ever have managed a full-scale prop firm?
A Prop Firm With Zero Professionalism
Despite their catastrophic financial situation, Gold Fund Trader went ahead and gave away 150 free accounts before their planned launch date. But here’s where it gets worse: they only managed to attract two paying customers after launching, resulting in a humiliating $600 in sales.
What kind of professional firm gives away more accounts than it can afford to manage? The firm openly admitted that they had only 90 active accounts, none of which were funded.
“We have only 2 paid customers for a total of $600 in sales from evaluations.”
This is the definition of financial incompetence. If this doesn’t scream scam, what does?
The Pathetic Attempt to Blame Others
Gold Fund Trader’s final statement to traders is almost laughable. Instead of taking responsibility for their lack of planning, knowledge, and professionalism, they pointed fingers at everything from poor tech providers to an investor backing out. These excuses are nothing but a smokescreen for their own failures.
They even admitted that they considered running discount promotions to cover up their financial troubles, just like many other dubious firms. But they decided to throw in the towel, pretending to take the moral high ground by closing down.
“We could have continued the operation with fishy behavior and run 50-60% off when there’s not enough funds, just like many firms were and are doing. But we don’t want to sell our soul and as traders, we do not want to scam anyone!”
They claim they didn’t scam anyone, but how else can you describe giving away 150 accounts knowing full well they didn’t have the finances to back them up?
The Final Nail in the Coffin
Gold Fund Trader’s closure was inevitable. They had no future, no professionalism, and certainly no financial backing. They tried to sell their sinking ship to other prop firms, hoping someone else would take the burden off their hands. Unsurprisingly, no one wanted to touch it.
In their closing words, they acknowledged their failure but tried to paint themselves as honest traders:
“I know people will hate us or think negatively. However, we truly have good intentions.”
Good intentions don’t cut it when you’re playing with traders’ money and time. This was a scam through and through, and traders should be glad this firm is now out of the picture.
Final Thoughts: Avoid Firms Like Gold Fund Trader
The fall of Gold Fund Trader is a stark reminder that not all prop firms are created equal. They lacked integrity, professionalism, and any sense of financial management. While they may not have scammed traders out of large sums, they certainly wasted time and created false hope for those who trusted them.
At FXPFREVIEW, we advise all traders to steer clear of firms like Gold Fund Trader—those that have no solid financial foundation, no professionalism, and rely on shady practices to stay afloat.
If you come across a firm that gives away accounts before launching, blames their failures on everyone but themselves, and lacks transparency around their funding, run the other way. Gold Fund Trader is a textbook example of how NOT to run a prop firm.