The "Close only" mode means that new trades cannot be opened on a particular instrument at this time, but the ability to close current open positions remains.
This mode is typically activated during periods of market volatility (i.e., when trading conditions become risky or unpredictable for both traders and the Company). Such situations may include:
Unexpected events related to specific companies or countries
Global changes
Financial reports or announcements that pose a high risk to the market
As a precautionary measure, the platform may temporarily restrict trading on certain assets to "Close only" mode to help protect clients from excessively high volatility.