OANDA relaunch makes currency exchange easier to understand
New York — November 30, 2009 — OANDA Corporation, provider of innovative online foreign exchange services and the world’s most accurate currency data, has redesigned its currency website at OANDA.com to help everyone understand the real costs of foreign exchange and potentially save money when exchanging currencies.
"In today’s global economy, we are all affected by currency movements," says Michael Stumm, President and CEO of OANDA Corporation. "Yet consumers are not always aware of the difference between a competitive exchange rate and an artificially inflated one. At OANDA, we want to educate people by providing access to the best possible currency exchange information through easy-to-use Web and mobile tools."
Users already familiar with OANDA.com will find the updated website easier to navigate. Its redesigned currency converter provides a new trends chart for any selected pair, and is now available in 13 languages. It remains the only converter to offer the full complement of free historical rates, bid ("buy") and ask ("sell") rates, and percentage adjustments for better understanding of what banks and brokers charge their retail customers.
The foreign exchange (forex) market is the world’s largest and most liquid financial market. Daily global turnover is estimated to be around USD $4 trillion, and the market continues to increase rapidly due to global economic demand.
OANDA started in 1995 as the first online provider of comprehensive currency exchange information. Since then the OANDA Rate® has become the touchstone for corporations, tax authorities, auditing firms and even central banks. In 2001 OANDA launched FXTrade, the first fully automated online forex trading platform, and the first 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 Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). OANDA Asia Pacific Pte Ltd is regulated by the Monetary Authority of Singapore with a Capital Markets Services license. OANDA Middle East Corporation Ltd. has a license from the Dubai Financial Services Authority (DFSA).