Ireland-headquartered AvaTrade has exclusively informed Finance Magnates about the launch of AvaOptions WebTrader, which will allow its clients to trade forex options contracts.
AvaOptions was initially launched in March 2020 as a mobile-only platform, but the broker has now extended its support to its proprietary desktop-based trading platform.
Commenting on the development, AvaTrade Chief, Dáire Ferguson said: “We are excited to start 2021 with the launch of AvaOptions WebTrader, offering our veteran users highly attractive pricing, efficient margining, and commission-free trading wherever they go.”
The broker explained that the web-based options trading platform will be similar to the mobile version and will support all the tools and features. Indeed, the options-specific platform will additionally allow trading with forex and commodities.
“The WebTrader platform has been designed to have the same look and feel as our intuitive mobile app, which makes visualizing and executing strategies as simple and convenient as possible for our customers,” Ferguson added.
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Rising Demand for Forex Options
Regulated in multiple jurisdictions, AvaTrade offers trading services with several instruments, including forex, stocks, commodities, and cryptocurrencies. The brokerage aggressively expanded its regional reach and also product line last year. It has further expansion plans for 2021.
In a recent interview with Finance Magnates, Ferguson revealed that AvaOptions, which offers vanilla options trading, was very popular among both new and experienced traders.
Despite the demand, options trading remains very risky. AvaOptions patented GUI that shows the risk and reward of any trade in the context of the past and the future potential outcomes and additionally integrated a strategy guide, which offers traders a dozen options, strategies that can be executed in a few clicks.
The broker further invests in other popular trading services and launched a copy trading application last November following its partnership with Pelican.