OANDA offers CFD trading to clients in Canada
Leading forex broker makes multiple instruments available on its innovative trading platform, including U.S. government debt securities, commodities, and international stock indices
TORONTO – February 13, 2013
OANDA Canada clients now have the opportunity to invest in a variety of commodity, stock index, and fixed income contracts for difference (CFDs) using the company’s award-winning trading platform. With the addition of these products, OANDA Canada’s retail clients can invest in U.S. debt; commodities such as corn, wheat, and oil; and leading global stock indices.
According to Courtney Gibson, Vice-President of Trading at OANDA, clients benefit from access to multiple instruments from one innovative platform.
“Our OANDA Canada customers now have access to a great selection of other asset classes, from the same platform they already know and trust for forex,” Gibson said. “Aside from the advantages that CFDs offer as an investment product – the ability to hedge existing positions, or short the market without paying a penalty – clients get the benefit of OANDA’s flexible lot sizes, commission-free pricing, and quality of execution.”
A CFD is a derivative instrument whose price is based on an underlying asset. Neither the trader nor the authorized, regulated dealer owns the underlying financial asset; they only own the speculation contract. CFDs may include equities, commodities, indices, or currencies, and investors can trade them without the need to tie up a large amount of capital to do so.
Investing in CFDs carries similar risks to investing in forex. CFDs are often traded on a leveraged basis (like forex) and a small market movement will have a proportionally larger impact on your position (which could result in losses or gains). CFD transactions carry a high degree of risk and are not suitable for all.
OANDA Corporation has transformed the business of foreign exchange through an innovative approach to forex trading. The company’s 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 2012, OANDA was named “Best Forex Provider” by the Financial Times and by Investors Chronicle; “Best FX Broker” by Forex Magnates; and was recognized by Investment Trends Singapore as providing “Best Value for Money” and “Highest Overall Client Satisfaction”.
OANDA was the first online provider of comprehensive currency exchange information, and today the company’s OANDA Rate® data are the benchmark rates for corporations, auditing firms, and global banks.
OANDA has six offices worldwide, in Chicago, London, Singapore, Tokyo, Toronto, and Zurich. 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 Services Authority (FSA), and the Japanese Financial Services Agency (FSA). OANDA Canada is a member of the Canadian Investor Protection Fund.