SINGAPORE, Oct. 23, 2014 /PRNewswire/ — OANDA, a global provider of innovative foreign exchange and CFD trading services, reports that it has closed the books on September with a record-breaking month in both trading volume and new client accounts since it launched the award-winning fxTrade platform in 2001. Further, October is poised to give September a run for its money: the first day of the month saw a record-breaking single day of trading volume, only to be broken on October 2nd and again on October 3rd.
"Traders have been waiting for volatility to return to the forex market, and September didn’t disappoint, as we saw record trading volume across the industry last month. Several factors contributed to that volatility including geopolitical events like the Scottish referendum and soft Chinese economic growth data that’s a concern to investors," said Dean Popplewell, Vice President of Currency Analysis and Research, OANDA Corporation. "As major central bank monetary policies diverge, more opportunities to trade will become prevalent. Investors will continue to keep a watchful eye on the Federal Reserve for any sign of an impending interest rate hike."
Based on OANDA’s fxTrends data, the top traded currency pairs in September amongst OANDA’s Singaporean clients were the EUR/USD (24%), the USD/JPY (22%) and the GBP/USD (11%).
"We’re excited that volatility is returning to the forex market. The third quarter ended with the highest trading volume OANDA has ever seen, and the fourth quarter is off to a promising start following the strong nonfarm payrolls numbers that were released this month," said Ed Eger, President and CEO, OANDA Corporation. "I’m most thrilled about the record-breaking new client registrations our company has seen in the third quarter: we hit a new milestone in our company’s history. It shows that our reputation as a broker with superior execution, competitive spreads, award-winning technology and customer service is spreading."
OANDA transformed the business of foreign exchange through an innovative approach to forex trading. The company’s industry 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; and interest calculated by the second. The company’s many awards attest to the power and flexibility of its trading platform. In 2013, OANDA was honoured with nearly a dozen awards, including Best Trade Execution Provider, Best Retail Trading Platform and Best Mobile Trading Platform by International Finance Magazine; as well as Best Value for Money by Investment Trends in each of the U.S., UK, and Asia Pacific markets.
OANDA was also amongst the first online providers of comprehensive currency exchange information, and today the company’s OANDA Rate® data provides benchmark rates for corporations, auditing firms, and global banks.
OANDA has eight offices worldwide, in Toronto, Chicago, New York, Boston, London, Singapore, Tokyo, and Sydney. 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 Conduct Authority (FCA), the Japanese Financial Services Agency (FSA), and the Australian Securities and Investments Commission (ASIC).
About OANDA Asia Pacific
This information is made available to you by OANDA Asia Pacific Pte Ltd. OANDA Asia Pacific Pte Ltd holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore and is also licensed by the International Enterprise Singapore. Co Reg No. 200704926K. Trading in leveraged over-the-counter contracts for foreign currency, precious metals, and CFDs carries a high level of risk and may not be suitable for all investors. You should never put at risk any amount that you cannot afford to lose. More details under: http://www.oanda.sg/legal/risk-warning.
© 1996 – 2014 OANDA Corporation. All rights reserved. All Registered Trade Marks used in this set of material, whether marked as Trade Marks or not marked, are declared to belong to their respective owner(s). OANDA Corporation owns Trade Marks of all its "FX" products.
The information on this material is not directed at residents of the United States, nor is it intended for distribution to, or use by, any person in any jurisdiction, where such distribution or use is contrary to local laws or regulations.