OANDA introduces more gold and silver cross pairs
Leading foreign exchange dealer responds to client demand in Asia-Pacific and Europe with 17 new precious metals pairs that cross gold and silver with major and minor currencies.
NEW YORK, October 11, 2011 —OANDA Corporation, provider of innovative online foreign exchange trading, has added 17 more precious metal cross pairs to its forex trading platform, OANDA fxTrade.
Among the new pairs is a gold/silver cross, XAU/XAG, to allow traders to benefit from the differential movement of the two precious metals. The new silver pairs are XAG/AUD, XAG/CAD, XAG/CHF, XAG/EUR, XAG/GBP, XAG/HKD, XAG/NZD, and XAG/SGD; and the new gold pairs are XAU/AUD, XAU/CAD, XAU/CHF, XAU/EUR, XAU/GBP, XAU/HKD, XAU/NZD and XAU/SGD.
“With the debt crisis in Europe and recession fears in the U.S., both gold and silver have been seen as potential safe havens for investors—most of whom are also looking at alternative ways to diversify their portfolios and hedge exposures to preserve wealth,” said Michael Stumm, CEO of OANDA Corporation. “OANDA clients outside the U.S. have been asking for more gold and silver pairs because trading metals on OANDA’s spot forex platform is less costly and more flexible than the alternatives. We expect the uptake on these new pairs to be substantial—especially with our clients across Asia Pacific and Europe.”
OANDA traders span the globe and now have access to 21 gold and silver pairs, as well as 72 currency pairs—including all of the major pairs and exotic crosses like the Indian rupee (USD/INR) and the Chinese yuan (USD/CNY).
OANDA Corporation has transformed the business of foreign exchange through an innovative approach to forex trading. The company’s online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; trades and accounts of any size; 24/7 trading; and interest calculated by the second, eliminating the need for rollover swaps. OANDA was the first online provider of comprehensive currency exchange information, and today the company’s OANDA Rate® data is the benchmark for corporations, tax authorities, auditing firms, and central banks. OANDA also offers global currency transfers through a fast, efficient, automated platform at ultra-competitive prices.
OANDA Corporation has seven offices worldwide, in Dubai, London, New York, Singapore, Tokyo, Toronto, and Zurich. Each office is fully regulated in its respective jurisdiction.
SOURCE OANDA Corporation