OANDA, a global provider of innovative foreign exchange trading services and one of Canada's largest Forex brokers, announced today that it is enhancing its presence in the UK. OANDA set up its European headquarters in June 2011 and its UK office today comprises 30% of the company's total volume. OANDA has plans to expand even further into Europe and the Middle East in the near future.
OANDA, based in Toronto, has been around for over eighteen years and has always been in a class of its own within the FX industry, concentrating mainly on alternative marketing strategies and shying away from elaborate publicity and impressive promotions. With future expansion in the forefront of its growth strategy, and with the appointment of new CEO, Ed Eger, former PayPal and Citibank executive, the firm began introducing a new perspective to its marketing activities, including focusing in on its recent sponsorship of the London Forex Investor Show.
OANDA's leading online trading platform, fxTrade, was introduced in June 2013 and was last updated in August. fxTrade launched a number of original innovations to the Forex broker marketplace such as accepting all trades of any size between 1-1million units, immediate trade execution, instant settlement on trades, and interest rates calculated to the second.
In addition, OANDA was the first online supplier of comprehensive currency exchange data and today the company's OANDA Rate?® data delivers benchmark rates for corporations, global banks and auditing firms.
Chinese Support
OANDA recently introduced two new features to its already unique blend of services.
Just yesterday, OANDA announced the addition of customer support in the Chinese language to its fxTrade Mobile applications for iPhone, iPad, and Android smartphones and tablets. This award-winning platform allows Forex traders to use advanced technical analysis features, view market activity, control risk, manage their positions and monitor their account status and profitability directly from their mobile device.
"?Currency trading in the retail space is increasingly moving from the desktop to the handset. In fact, in December 2013 as many as 51% of our customer logins came from our mobile trading platforms and that percentage was higher in some predominantly Chinese-speaking markets," said Trevor Young, Vice-President of Product Management, OANDA Corporation. "?As an industry leader in the mobile Forex space, and realizing the demand from our clients in addition to the growing demand from Asian economies, adding Chinese language support was a clear priority for us and we are happy to deliver that today."
BeeksFX Partnership
In another cutting-edge move, in early February, OANDA partnered with BeeksFX, one of the financial industry's leading data centers. By doing this, OANDA's retail traders are now able to access BeeksFX's fully managed Virtual Private Server (VPS) and Cross Connected offerings using OANDA's APIs or MetaTrader4 (MT4) trading platforms through its fxTrade mobile application. This arrangement promises traders some of the lowest latency in the retail Forex industry.
According to Courtney Gibson, Vice-President of Trading, OANDA Corporation, "?Creating opportunities like this"¦"¦..is central to OANDA's mission of combining our position as both a technology powerhouse and a veteran market maker."
OANDA's UK expansion takes advantage of the recent financial reversal in the European markets, with the UK's main benchmark stock index, the FTSE100, reaching new highs. The firm perceives UK's current trading environment as the perfect opportunity for OANDA's growth and intensification in Europe, the Middle East and Asia.