OANDA announces winners of its fxTrade™ Race to the Billionth Transaction
New York, August 22, 2012
The company hosted its fxTrade Race to the Billionth Transaction contest to celebrate the milestone with cash prizes awarded for the first three trades made immediately after the transaction counter on OANDA’s trading platform hit 1,000,000,000.
Alejandro Garcia of California, USA was awarded the Gold prize of $10,000 USD; Xinxi Wang of Singapore, Singapore was awarded the Silver prize of $1,000 USD; and Liguang Wang of Beijing, China was awarded the Bronze prize of $500 USD.
The Gold winner, Alejandro Garcia, began trading currencies in the late 1990s and has traded with OANDA since 2002. “I trade with OANDA because it’s the best forex broker in the world, with game-changing ideas they have put into practice,” he said. “I love the tight spreads, the variable units and the second-by-second interest payments. These three things put the forex market within reach of everyday people and level the playing field.”
Garcia added, “OANDA is so far ahead of the curve that I believe they have the opportunity to revolutionize not only forex, but all financial markets.”
According to Tony Savor, Chief Technology Officer at OANDA, the billionth transaction milestone highlights the flexibility of the company’s fxTrade trading platform and reflects the loyalty of OANDA’s customers.
“Investors can trade any amount from a single unit to ten million units on OANDA’s platform, without having to round up or down to fit the pre-established lot sizes typically demanded by other dealers,” Savor explained. “We let traders choose their own lot sizes to best reflect their own capital and trading strategies and appreciate how they continue to select OANDA as a result.”
Savor added, “The advanced algorithms in our trading system are designed to net a huge volume of small tickets simultaneously at super-high speeds. As the counterparty to all transactions in our market, our system allows us to provide best-in-class execution for our clients.”
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; 24/7 trading; and interest calculated by the second. 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, tax authorities, auditing firms, and central banks.
OANDA Corporation has seven offices worldwide, in Chicago, London, New York, 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).