AvaTrade, a foreign exchange (forex) and , and CPattern, announced this Wednesday in a joint statement that they will be expanding their collaboration.
At present, AvaTrade has been utilising CPattern’s ‘Guardian Angel’ tool which is installed as an EA on the broker’s MetaTrader 4 and MetaTrader 5 consoles. The tool gives personalised feedback to traders in real-time.
This feedback has been designed to increase traders’ awareness of their decision-making platforms. However, the ‘Guardian Angel’ tool does not give trading advice.
After testing the tool with a control group, AvaTrade is now considering expanding the accessibility of the feature, to be available across its entire operation. This would include web and mobile applications and the adaptation of the tool to all necessary languages.
AvaTrade: Guardian Angel Tool Increased Trading Activity
According to the statement given to Finance Magnates, the Dublin-based broker found there was a “direct positive connection” between the personalised tool and trading activity and trading volume.
Source: LinkedIn
Through its testing, AvaTrade also found that the Guardian Angel tool had a high adoption rate with traders. And that they “seem to gain a sense of control over their trading and it increased their trust with AvaTrade’s brand”, the statement said.
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