OANDA Hits Trading Volume and New Client Milestones
Announcement posted by de2 Communications 21 Oct 2014
OANDA, a global provider of innovative forex and Contracts For Difference (CFD) trading services, reports that it has closed the books on September with a record-breaking month in both trading volume and new client accounts since it launched the award-winning fxTrade platform in 2001. Further, October is poised to give September a run for its money: the first day of the month saw a record-breaking single day of trading volume, only to be broken on October 2nd and again on October 3rd.
“Traders have been waiting for volatility to return to the forex market, and September didn’t disappoint, as we saw record trading volume across the industry last month. Several factors contributed to that volatility including geopolitical events like the Scottish referendum and soft Chinese economic growth data that’s a concern to investors,” said Dean Popplewell, Vice President of Currency Analysis and Research, OANDA Corporation.
“As major central bank monetary policies diverge more opportunities to trade will become prevalent. Investors will continue to keep a watchful eye on the Federal Reserve for any sign of an impending interest rate hike.”
Based on OANDA’s fxTrends data, the top traded currency pairs in September amongst OANDA’s Australian clients were the USD/JPY (20%), the DE30/EUR (18%) and the EUR/USD (12%).
“We’re excited that volatility is returning to the forex market, and about our company’s record-breaking new client registrations in the third quarter,” said Louis Cooper, Managing Director, OANDA Australia.
“In Australia specifically, we also achieved record trading volume, including 24% of trading volume via CFDs. We’ve also nearly doubled our customer base since launching in May, which shows that our reputation as a broker with superior execution, competitive spreads, award-winning technology and customer service is spreading.”
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About OANDA
OANDA transformed the business of foreign exchange through an innovative approach to FX 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 2014, OANDA was honored to receive the coveted “Highest Overall Client Satisfaction” and “Value for Money” awards in Investment Trends’ 2014 USA FX Report. OANDA was also recognized as the “Best Value Forex Broker,” and MarketPulse, OANDA’s macroeconomic news site, was named the “Best Forex Media Resource” at the 2014 U.K. Forex Awards.
OANDA was also the first online provider of comprehensive currency exchange information, and today the company’s OANDA Rate® 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).