OANDA Unveils Free Android Forex Trading Application
NEW YORK, July 8, 2010—OANDA Corporation, provider of innovative online forex trading and the world’s most accurate currency data, has launched an Android forex trading app, now available as a free download in Google’s Android Market.
With fxTrade for Android™, traders get OANDA’s leading forex trading platform plus the flexibility and freedom of the Android open-source mobile operating system. Android is supported by a variety of manufacturers and wireless networks, giving customers a wider choice of mobile devices, carriers, and price points.
OANDA’s Android forex app includes the following features:
- 24/7 trading at interbank rates
- Trading on 54 currency pairs and 4 precious metal pairs
- One-tap trade execution from any screen
- Limit orders: take profit, stop loss, trailing stops, lower and upper bounds
- Live streaming rate feed
- Landscape color charting in multiple timeframes for optimal visualization
- Account values updated in real time: unrealized/realized P&L; margin used/available; net asset value
- OANDA customer service support accessible by email from inside the app
Market research firm Gartner Inc. reports that Android’s momentum is strong—particularly in North America, where sales of Android-based phones increased more than 700 per cent year-on-year. OANDA’s release of fxTrade for Android marks the third mobile trading app launched by the company in the last 90 days—part of OANDA’s ongoing commitment to create technology that provides customers with the types of trading experiences they expect from a leading forex innovator.
“Android is based on open-source technology, which is all about transparency, flexibility, and freedom of choice,” says Michael Stumm, CEO of OANDA Corporation. “At OANDA we share these values. Developing an Android trading app is a key part of our mobile strategy because it supports our vision of a more open, accessible forex market. Our customers now have wider access to trading opportunities on the device and network of their choice.”
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 Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC) and is a forex dealer member 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).