Forex and CFD broker, AvaTrade announced that it has launched a new innovative copy-trading solution to help users connect with other traders and industry experts.
Dubbed AvaSocial, the newly built mobile application is regulated by the Financial Conduct Authority (FCA). The broker launched the app in partnership with Pelican Trading. AvaTrade aims to provide a platform to help traders showcase their performance.
The broker highlighted that AvaSocial will allow traders to establish their own following to share their trading signals and strategies. The new app has the feature of instant messaging through which traders can communicate with each other easily.
AvaTrade also mentioned the importance of social trading as most of the traders refer to the analysis of experts or other members of the trading community before making an investment decision. Through AvaSocial, clients will be able to take advantage of all the innovative features with just one button on their mobile.
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Commenting on the launch, Dáire Ferguson, CEO of AvaTrade, said: “We are delighted to launch AvaSocial today, alongside Pelican Trading, as part of our
ongoing commitment to support and help educate our customers. The new platform provides market accessibility and showcases how the experts are investing their own money. By sharing and interacting on live trades via the chat functionality, other users can heed the experts’ recommendations and copy their strategies for a chance of greater success.”
Growing Interest in Social Trading
AvaTrade plans to capture the market share of growing interest in social trading platforms. In collaboration with Pelican Trading, the broker developed a comprehensive social trading platform to help users to view different trading strategies of experts. “We are extremely pleased to integrate our proprietary social trading technology solution into AvaTrade’s mobile platform that connects traders and enables them to share information and learn from the best,” Mike Read, Co-founder and CEO at Pelican Trading, said in a statement.
According to the broker, AvaSocial is currently available in English, German, French, Italian, Vietnamese, Spanish, Japanese, Chinese (Traditional), and Chinese (HK).