AvaTrade seals sponsorship deal with F1’s Aston Martin team

abdelaziz Fathi

Dublin-based forex broker AvaTrade today announced that it has concluded a sponsorship deal with Formula One’s Aston Martin Cognizant team that entails sponsorship rights and other marketing benefits.

F1 is one of the leading motorsport events globally with millions of global fans who tune-in to the year-long event. Neither the full financial terms nor the duration of the deal have been disclosed, but we can guess it’s not a small figure since Aston Martin’s sponsorship portfolio includes high-profile partners.

In 20222, Saudi Arabian oil giant Aramco inked a long-term partnership with the British squad that includes a licensing agreement, and joint research and development of sustainable fuels. Additionally, the team has been officially renamed to ‘Aston Martin Aramco Cognizant Formula One™ Team.’

By signing the partnership with the Silverstone-based racing team, AvaTrade targets new clientele that are mainly fans of athletics and car sports.

AvaTrade also sponsors the Jamaican sprinting icon Usain Bolt, the fastest human ever timed. Given the popularity of the track star, the broker achieves better exposure within Europe, where Bolt has a much higher profile than any other region.

Dáire Ferguson, CEO at AvaTrade, said: “We are delighted to announce this partnership with AMF1. Traders and sports teams competing at the highest levels require a number of similar characteristics. They need to be driven, opportunistic and dynamic, whilst availing of professional support to get to the top of their game. This is why we’re so excited to be working alongside AMF1, a team which shares our views and outlook on what is required to achieve success.”

Jefferson Slack, Managing Director – Commercial & Marketing, AMF1 added: “It is hugely exciting to welcome AvaTrade as the Official Trading Partner of AMF1. As a racing team, we strive to improve ourselves continuously and stay ahead of the competition. But we cannot do this alone, we are supported by leading engineers, an expert pit crew, cutting-edge technology, and state-of-the-art tools which allow us to compete at the very pinnacle of motorsport. This draws parallels with the team at AvaTrade, which provides its traders with skilled expert advisors and personal account managers to guide them to maximise their full potential in their trading journey.”

AvaTrade, which was founded in 2006 by Emanuel Kronitz and Negev Nosatzki, was reportedly aiming to join the rush of high-profile listings in London. In 2021 reports suggested the listing at London stock market might see the Irish online trading platform valued between £500 million and £700 million. However, the IPO plan was apparently shelved as the broker cautioned that the exact timing and valuation will be subject to market conditions and investor appetite.

Headquartered in Ireland, AvaTrade Group is a provider of a full spectrum of trading instruments, including forex, stocks, commodities, cryptocurrencies and indices. The company is licensed by six independent regulators, including BVI Financial Services Commission, Central Bank of Ireland, Japanese Financial Services Authority, Australian Securities and Investments Commission and South Africa Financial Services Board.

Read this next

Fintech

ViewTrade launches NextGen: its new B2B2C retail trading platform

NextGen is designed to streamline the process of offering a comprehensive portfolio of financial services to retail customers, significantly reducing both time to market and associated costs. The platform boasts a modern technology stack that ensures seamless integration with brokers, custodians, and third-party technologies. It is especially suited for entities seeking a white-labeled investment platform, such as banks, brokerage firms, and financial advisors, among others.

Digital Assets

Unlocking Bitcoin’s Liquidity: Velar Launches Dharma AMM

Velar has introduced Dharma, an Automated Market Maker (AMM) on Bitcoin L2 Stacks, enhancing Bitcoin’s DeFi liquidity. Launching today, it allows onchain token trading, starting with STX-ABTC and STX-AEUSDC pairs. Dharma aims to revolutionize Bitcoin DeFi with secure, decentralized finance tools, signaling Velar’s commitment to unlocking Bitcoin’s DeFi potential.

Retail FX

Tiger Brokers announces six-month free subscription to Grafa’s AI-driven newsfeed

“Grafa has built an extraordinary data set with automated triggers across more than 50 thousand assets. More importantly, it has developed proprietary personalization which notifies users of major events that impact their money in real-time. Grafa is growing extremely fast and perhaps what’s most appealing about the platform is that it makes finance entertaining. People don’t just want the data and information, they want it delivered in a way that’s compelling and engaging.”

Fintech

Centroid and TechySquad join forces for a complete solution for multi-asset brokers

“Together, our customizable back office features and their superior connectivity between multi-asset liquidity providers will give our clients an integrated trading environment that includes our powerful CRM platform.”

Market News

US Dollar Climbs as Japan Ends 8 Years of Negative Rates

With the passage of eight years, Japan’s Bank of Japan (BOJ) has bid adieu to its experimental negative interest rate policy, marking the end of a daring yet contentious economic manoeuvre aimed at revitalising Japan’s stagnant economy.

Payments

Cryptocurrency in Forex: Revolutionizing Payments and Trading

In recent years, the integration of cryptocurrency payments within the realm of Forex trading has surged dramatically. This transition signifies a profound shift in the financial landscape, offering a wide range of benefits for both brokers and traders alike.

Digital Assets

Bybit Unleashes Zero-Fee Revolution in P2P Crypto Trading

Bybit, the world’s third biggest crypto exchange by volume, has launched a zero-fee policy for its P2P trading, removing all transaction costs for buyers and sellers. This pioneering approach allows global traders to enhance their savings and profits without extra charges.

Fintech

ANZ deploys CobaltFX’s Dynamic Credit platform

“This new approach to credit management has helped eliminate carve-outs as well as reduce credit usage while improving our market access. This capability benefits our customers, counterparties, and the bank.”

Industry News

FINRA fines M1 Finance $850,000 for misleading ‘finfluencer’ activities

“As investors increasingly use social media to inform their financial decisions, FINRA’s rules on communicating with the public are especially critical. FINRA will continue to consider whether firms are using practices and maintaining supervisory systems that are reasonably designed to address the risks related to social media influencer programs.”

<