OANDA Launches Live FX Trading System Transaction Platform Offers Real-Time Trading, Decision Support Tools and Market Analysis to Retail Market
NEW YORK - March 29, 2001 - OANDA Corporation, the Internet's leading provider of currency-related products and technologies, today announced the availability of its online foreign exchange trading platform for retail customers. Developed to meet the trading needs of a mass market, fxTrade makes currency trading simple and convenient for everyone from the novice FX investor to corporate treasurers and hedge fund managers.
"Until now, foreign exchange markets have been closed to all but a small group of participants," said Jeffrey Hunter, President of OANDA. "With fxTrade, we're opening the door to the foreign exchange markets and revolutionizing the way they are traded."
"We've taken 15 years of foreign exchange market research and analysis and incorporated patented market-making and risk management technologies to develop an FX trading platform like none other," continued Hunter. "FXTrade offers a fully automated trading environment, including market making, execution of trades and online account management that provides a truly transparent and liquid FX market regardless of transaction size."
OANDA's fxTrade is a Java application. Key features include:
Low spreads-Regardless of transaction size, fxTrade allows users to trade with the tightest spreads available on the Internet - as low as 2-3 pips.
No trade minimum - fxTrade offers the smallest transaction size available on the Internet - users can trade as low as $1.
Continuous interest rate payments - fxTrade is the first online financial application that offers continuous interest rate payments.
No costs - There is no start-up cost, monthly fee, commission or transaction fee associated with fxTrade. Also, there is no charge for stop or limit orders.
Entirely Internet based - fxTrade is 100 percent Internet based and accessible through standard Internet browsers.
Analysis tools - fxTrade incorporates proprietary quantitative research tools, including price and yield forecasts and timing indicators, to facilitate the decision-making process. These tools, as well as fxNews - currency and market news - are free to fxTrade users.
Real-time settlement, confirmation and account management - When a currency pair is bought or sold, confirmation and settlement are instant and profit and loss, margin and account activity are updated in real-time.
To learn more about fxTrade, visitors to OANDA.com can play fxGame. Using the same online interface and transaction platform as fxTrade, the game allows players to simulate real market conditions and trading, but without the risk. Players can register and start using fxGame immediately. After registering, OANDA will credit a user's account with $100,000 fictitious U.S. dollars to be used while playing the game.
About OANDA OANDA is a leading provider of currency conversion and localization tools, decision support applications, database technologies and transaction services. Established in late 1996 by the Olsen Group, an econometrics research firm at the forefront of developing technologies for high frequency financial markets, OANDA was an early pioneer in the development of currency-related technologies for use in the digital economy. The company's Web site, www.oanda.com, receives over 10 million page views per month and has become the premier online destination for investors, businesses and travelers seeking currency tools, applications, content and community. OANDA has developed a proprietary and fully automated Internet-based trading platform that serves as the basis for its private and white-label FX trading solutions. FXTrade, OANDA's trading endeavor, offers investors and speculators margin-based FX trading with real-time execution and spreads as low as 2-3 pips, regardless of trade size.
