OANDA supports CFTC’s move to protect the interests of traders
Ney York – Febuary 7, 2017
A statement by Vatsa Narasimha, Chief Executive Officer at OANDA:
“At our very core, OANDA has always been an extremely client-focused organisation, dedicated to creating a fair and transparent arena in which retail clients can trade, safe in the knowledge that we have their best interests at heart. That’s why we believe the affirmative stance taken by the US Commodity Futures Trading Commission (CFTC) against the misrepresentation of interests to retail clients trading the global currency markets is an extremely positive move. Given our long-standing commitment to integrity, we believe the retail trading industry as a whole will benefit from a more transparent approach where brokers are held accountable for making questionable statements or falsely disclosing their interests.
Customers should trade with a broker they trust. Throughout our 21-year history, OANDA has earned a reputation for always putting our clients’ interests first. Closely regulated by six authorities around the world, we work hard to ensure our clients succeed by offering transparent spread-only pricing with no hidden commission, no requotes and no rejections. We’ve also remained true to our legacy of integrity even during unprecedented market events such as the SNB crisis. As an organisation, we are committed to helping our clients succeed, protecting their interests wherever possible.”
Widely respected in the trading industry, OANDA combines cutting-edge trading technology and institutional-grade execution across a wide range of asset classes, enabling clients to trade global stock indices, currencies, commodities, precious metals and treasuries on the world’s best retail FX platform . The firm boasts a state-of-the-art V20 trading engine that execute trades in less than two milliseconds , significantly reducing the chance of slippage in one of the world’s fastest-paced markets.
OANDA is also firmly committed to partnering with clients on their journey towards becoming a successful self-directed trader, constantly striving to help them harness the power of the markets as they trade. From their award-winning education program to providing up-to-the-minute market commentary and a host of charting applications that help reveal potential trends, the firm arms their clients with the necessary tools required to make educated decisions and trade the markets with knowledge and confidence.
OANDA applauds the CFTC’s recent action and looks forward to working together towards the overarching goal of achieving a secure experience for traders.
A global leader in online multi-asset trading services, OANDA combines award-winning technology and institutional-grade execution across a wide range of asset classes, enabling clients to trade global market indices, commodities, treasuries, precious metals and currencies on one of the world’s fastest platforms. The company also offers OANDA Rates™, a corporate solution that helps the world’s leading audit firms, taxation authorities and MNCs mitigate currency risk, improve efficiencies and optimize working capital. Established in 1996, OANDA has offices in the world’s most active financial markets including New York, London, Singapore, Tokyo, Toronto and Sydney and is fully regulated by six major authorities.
Leveraged trading is high risk and may not be suitable for everyone as your losses may exceed your investment.
OANDA Corporation is headquartered at 185 Berry Street, Suite 4700, San Francisco, CA, USA, 94107.
Notes for Editors:
Chief Executive Officer with OANDA is available for comment
Formerly CFO, Vatsa Narasimha is OANDA’s Chief Executive Officer, responsible for driving corporate strategy and steering company growth all over the world. Previously a Principal with The Boston Consulting Group, Vatsa has worked with financial institutions on a variety of growth strategy, corporate development, and operational issues. He holds a Masters degree in Electrical Engineering from Cornell University, as well as an MBA in Mergers & Acquisitions from The Wharton School of the University of Pennsylvania.
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