AvaTrade has today announced a suite of upgrades to its trading offering, reducing spreads on several cryptocurrencies – including Ethereum, Ripple and Bitcoin Gold – and adding several new instruments to its platform. Users will now be able to trade cryptocurrencies Chainlink and Uniswap as well as several new equity indices baskets on topical securities. The updates come as the broker continues to expand and diversify the trading options at its users’ disposal while remaining highly competitive in its offering.
Chainlink and Uniswap are both types of third-wave decentralised finance (DeFi) crypto, an establishment of autonomous enterprises that are not controlled by a central source. DeFi coins, such as Chainlink and Uniswap, extend the use of blockchain from simple value transfer to more complex financial use cases, with the autonomous infrastructure operating via smart contracts and blockchains and thus non-reliant on financial intermediaries.
Commenting on the updates, Dáire Ferguson, CEO at AvaTrade, said: “We are delighted to expand our client offering with the addition of some important new products. DeFi is really starting to take off in the crypto space and we are delighted to be able to offer our clients the chance to trade these new instruments. In addition, a scale-back in crypto spreads now means AvaTrade’s offering is among the most competitive on the market, bringing our clients better value when trading.”
Meanwhile, the equity indices baskets added to AvaTrade’s platform present users with several exciting new options for trading on trending assets while minimising exposure to the risks associated with investing in a single stock. The indices offer access to specific baskets of stocks, tracking segments such as airlines and airports giants, COVID-19 vaccine giants and green energy giants (see full list below), enabling users to trade based on wider industry trends without having to take on the research or risk associated with picking out a single business or selection of businesses.
Ferguson adds: “As ever, AvaTrade remains committed to providing our clients with a wide range of tools suited to every trading appetite.”