OANDA Builds Bridge to MetaTrader 4
New York, NY (PRWEB) February 16, 2011
OANDA Corporation, provider of innovative online forex trading and currency data services, now offers its competitive advantages to traders who use MetaTrader 4 (MT4). When they set up an OANDA trading account or demo account, MT4 traders can continue to use their favorite MT4 tools and benefit from OANDA’s tight spreads, quality fxTrade execution, and transparent business model.
MetaTrader is an electronic trading platform with automated trading capabilities; OANDA has licensed this software to be used with market-leading OANDA Spreads®. The OANDA fxTrade platform bridges directly to MetaTrader using custom technology, which helps keep costs low for traders because there are no third-party fees to link the fxTrade trading engine with the MT4 user interface. OANDA will not use the controversial MT4 Virtual Dealer plug-in, which goes against OANDA’s policies of transparency and fairness.
“OANDA has licensed MetaTrader software to offer traders more choice,” said Michael Stumm, CEO of OANDA Corporation. “Many of our clients who use automated trading strategies have asked us to support this popular trading platform, and I’m pleased to say we’re now able to offer them the best of both worlds.”
OANDA started in 1995 as the first online provider of comprehensive currency exchange information. Since then the OANDA Rate® has become the benchmark for corporations, tax authorities, auditing firms, and central banks. In 2001 OANDA launched fxTrade, the first fully automated online forex trading platform. fxTrade was the first platform to offer immediate execution, support trades and accounts of any size, enable true 24/7 trading, and eliminate the rollover swap by calculating interest by the second. OANDA's innovative technology has enabled it to sustain a large trading volume. Peak performance has been measured at 1.5 million trades a day, far exceeding the volume typically handled through any of the leading global banks or electronic communication networks (ECNs) that trade forex.
OANDA Corporation is a registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC) and is a Forex Dealer Member (FDM) of the U.S. National Futures Association (NFA). OANDA Corporation owns the following subsidiaries: OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore with a Capital Markets Services license; OANDA Middle East Corporation Ltd., with a license from the Dubai Financial Services Authority (DFSA); and OANDA Canada, regulated by the Investment Industry Regulatory Organization of Canada (IIROC).