OANDA Asia Pacific expands operations in Asia
Singapore, August 27, 2012
OANDA Asia Pacific, provider of innovative online foreign exchange trading services, announced today the expansion of operations in Singapore, to accommodate the growth in Asian retail FX sector and to provide customer support to its increasing customer base. OANDA Asia Pacific has tripled its operations in Singapore in the last two years. The new office is located at the heart of Singapore’s new financial center at OUE Bayfront. The move also marks four successful years of operation in Singapore. OANDA is proud of their long-standing client relationships and exemplary growth in the region.
“Growth has picked up recently in retail forex market in Asia. We are witnessing a flow of investments from equities to FX as more traders begin to see the potential in forex trading. OANDA is investing in our Singapore and Asia operations to respond to the market needs,” said Marion Lang, Head of Sales and Marketing for OANDA Asia Pacific.
OANDA Asia Pacific opened its Singapore office four years ago and has tripled its operations since 2010. Such exemplary growth can be attributed to strong client relationships that stem from the company’s commitment to providing outstanding customer service and best-in-class FX trading experiences.
“OANDA’s low spread reduces the transaction cost significantly compared to the other retail brokers. This is one of the reasons why I trade with OANDA. I can trust OANDA to continuously innovate in technology and provide advanced tools and best-in-class execution for FX traders through API,” says Xinxi Wang, 2nd place winner of OANDA’s fxTrade Race to the Billionth Transaction Contest, from Singapore.
“Asian FX traders are exploring the tremendous market potential with increasing volumes. The constant movement in the major currencies like Euro, Sterling and Yen offer challenging but exciting opportunities that are attracting more and more investors,” said Stuart McPhee, an experienced trade strategist and OANDA’s Head of Education in Asia Pacific.
McPhee added, “OANDA provides one of the world’s leading platforms for trading FX. We are known for our technology and our commitment to transparency in the marketplace, which we feel is essential for helping traders understand the markets better and trade with more confidence. With freely shared market sentiment tools, market-leading prices, quality execution, and a reputation for being a fair dealer, we are confident our growth spurt will continue.”
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).