|By Business Wire||
|May 14, 2014 08:03 AM EDT||
OANDA, a global provider of innovative foreign exchange trading services, officially opens its offices in Australia today. Since launching its operations in Asia Pacific (APAC), OANDA has been awarded by retail FX and CFD traders as providing the Best Customer Service and the Highest Overall Client Satisfaction in the region. With its new office in Sydney, OANDA is poised to deliver its local customers the same exemplary service.
“OANDA has a strong legacy of innovation and we’re always looking for ways to disrupt the market,” said Louis Cooper, Managing Director, OANDA Australia. “We are a technology company at our core; we are always working to discover new and better ways to leverage that technology for the benefit of our clients. We’ve arrived in Australia to empower traders and help them to better manage their trading strategies over the long term.”
OANDA already has several thousand active traders in Australia and Cooper intends to double the company’s market share in the CFD and FX sector in 2014.
“The fact we already have a significant client base in Australia and New Zealand is a testament to the attractiveness of our offering. As well as being heavily awarded for our service, OANDA has a strong reputation, including some of the lowest latency in the industry, no hidden fees, no trade rejections, and a clean record with all of our regulators around the globe,” said Cooper. “The quality of our pricing and execution, coupled with innovative offerings, such as our OANDA Trade Leaders Program copy-trading service and our multi asset class execution on MT4, sets us apart from our competitors and helps gives our traders an edge.”
The launch in Australia is part of OANDA’s overall growth strategy in APAC – a market that represented 24% of the company’s global growth in 2013.
“OANDA is bucking the overall industry trend. While there is a small decline in FX trading in markets such as Australia and Singapore, we have been growing steadily year on year across Asia,” said Rajesh Yohannan, Managing Director of OANDA Asia Pacific. “We see Australia and New Zealand as significant growth opportunities given the relative size of the FX and CFD market in the region and the high demand we’ve seen from traders here.”
OANDA Corporation transformed the business of foreign exchange through an innovative approach to forex trading. The company’s industry leading online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; instant settlement on trades; trades of any size between one unit and 10 million units; and interest calculated by the second. The company’s many awards attest to the power and flexibility of its trading platform. In 2013, OANDA was honored with nearly a dozen awards, including Best Trade Execution Provider, Best Retail Trading Platform and Best Mobile Trading Platform by International Finance Magazine; as well as Best Value for Money by Investment Trends in each the U.S., UK, and Asia Pacific markets.
OANDA was the first online provider of comprehensive currency exchange information, and today the company’s OANDA Exchange Rates® data provides benchmark rates for corporations, auditing firms, and global banks.
OANDA has eight offices worldwide, in Toronto, Chicago, New York, Boston, London, Singapore, Tokyo, and Sydney. OANDA is fully regulated by the U.S. Commodity Futures Trading Commission (CFTC), the U.S. National Futures Association (NFA), the Monetary Authority of Singapore (MAS), the Investment Industry Regulatory Organization of Canada (IIROC), the UK Financial Conduct Authority (FCA), the Japanese Financial Services Agency (FSA), and the Australian Securities and Investments Commission (ASIC).
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