On March 24, we officially launched the OANDA Trade Leaders Program. Now, our clients can choose to take advantage of our world-class copy-trading service to help them grow their investment portfolios by replicating the trades of experienced professionals.
Copy trading, or mirror trading, is a method by which traders can follow the trading behaviour of experienced, professional forex investors.
This program is the result of OANDA’s acquisition of Currensee late last year, which brought together two different but complementary forex services from companies that share a similar business vision and values. Upon our initial beta launch of the program last November, we opted to deploy the integrated platform using MetaTrader 4 (MT4) as both companies offer full support for MT4. To finish the platform integration, we used the stellar OANDA Java API.
A Customizable Investment
The OANDA Trade Leaders Program is designed to serve two distinct sets of investors. For retail forex traders, they may simply not have the time to commit to intraday trading or they may be less experienced at trading. And for experienced active investors – people who are comfortable self-directing their own financial portfolios – they may not have considered forex as an alternative asset class in which to invest. After all, the forex market is a range-bound market and not a trending one.
For less experienced traders, and in order to trade forex smartly, you need to know how to identify with its inherent, rapid fluctuations in order to take advantage of its volatility. The program provides these investors with a good way to potentially build their forex portfolios and knowledge of the market by following our vetted, professional Trade Leaders and their varying strategies.
For experienced investors who manage their own money on a frequent basis, the OANDA Trade Leaders Program is essentially turning a tradable market into an investible one. There’s also a segment of experienced investors who find copy trading exciting in that it gives them the opportunity to build and customize an investment out of a portfolio of our Trade Leaders versus a more conventional type of investment.
Bigger, Stronger, Faster!
We can now provide our clients with a vastly improved copy-trading experience that is as direct as it is reliable. The direct integration between the two platforms reduces latency, resulting in even faster trade order execution speeds than the milliseconds it took previously.
In due time the OANDA Trade Leaders Program will go beyond trading forex solely to include precious metals and CFDs* (contracts for difference). If you have yet to try copy trading, sign up and leverage the experience of our professional Trade Leaders.
* -- CFD copy trading is only available to OANDA Europe’s clientele presently. The OANDA Trade Leaders Program is currently available in the U.S., Europe, Middle East, and Africa. OANDA continues to work with regulatory authorities in all of its jurisdictions to introduce this compelling program to its clients worldwide.