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AvaFX to Rebrand Into AvaTrade

Earlier today the global forex broker AvaFX announced announced that it will be rebranding into AvaTrade. We had noticed the existence of the new site avatrade.com a while ago but it is now official. 

 
AvaTrade will gradually replace the company's original brand AvaFX (which still appears to be accepting applications for new accounts). We have the company's promise that the new brand will deliver a number of new features and improvements such as new platforms and trading instruments, and better client security. Some of the new things we will see with AvaTrade are the addition of exchange traded funds (ETFs), a browser-based and smart phone versions of the broker's Metatrader 4 (MT4) platform, as well as MT4 download for Mac. 
 
"The launch of the new brand is an important milestone in the history of Ava. It builds upon our long-term goal of providing our clients with a diverse and expansive range of products to trade, which has been a major driver behind Ava's incredible growth," shared Emanuel Kronitz, CEO of  Ava Group. 
 
"Building the new brand was one of the biggest projects we have undertaken at Ava. We wanted to create an environment for our clients that would not only deliver everything required by the professional trader but that would also help new traders build their confidence. That means providing all the educational materials, resources and tools they need to make informed trading decisions,” Kronitz added.
 
According to company representatives the group's annual trading volume mas increased from $31 billion in 2007, a year after its launch, to $400 billion in 2012, which – if true – speaks of a significant and sustainable growth. 
 
All this sounds great, however it doesn't the question that has been bugging me since I heard about the rebranding: why? Frankly, I fail to see an objective reason for the change of the brand name. The new Ava comes with a new and better-looking website but that could have been done without changing the name. 
 
During the past year we saw two major brokers do the same: Trading Point rebranded into XEMarkets and this made sense given that the company got all its brands (a total of three) to unite under the new name. The other rebranding that took place was Tadawul FX becoming Liquid Markets, and again the change had a purpose: to reflect the brokerage's shift of focus from the Arab to the European forex market. 
 
The only reason I can think of for Ava's new name is the fact that the broker has expanded its range of markets a lot and along with currencies it now offers precious metals, CFDs, ETFs, treasuries and bonds, etc. Nonetheless, forex remains Ava's main scope of business so here I am, asking myself whether a rebranding was necessary. 
 
 

About AvaFX

 
Ava Capital Markets Ltd is an Ireland-based broker, founded in 2006. Through its subsidiaries, it is regulated in the European Union, Australia, Japan, and the British Virgin Islands. Ava's proprietary trading platform, the Ava Trader leverages the power of the world’s leading banks and financial institutions, while providing consumers with an easy-to-use yet functionally rich trading environment. AvaTrade has received numerous awards for maintaining the highest standards in customer service, trade executions, pricing transparency, and advanced trading tools. AvaTrade has offices in many of the major financial centers in the world including New York, Tokyo, Dublin, Paris, Frankfurt, Milan and Sydney.
TAGS: forex broker  forex trading  AvaFX  AvaTrade  rebranding  CFD  ETF 

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