NEW YORK CITY, Oct. 20, 2014 /CNW/ - OANDA, a global provider of innovative forex 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 US clients were the EUR/USD (33%), the USD/JPY (15%) and the AUD/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 getting out there! And with some of the highest client profitability in the industry we're extremely bullish on our future."
OANDA Corporation 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. In 2014, OANDA was honored to receive the coveted "Highest Overall Client Satisfaction" and "Value for Money" awards in Investment Trends' 2014 USA FX Report. OANDA was also recognized as the "Best Value Forex Broker," and MarketPulse, OANDA's macroeconomic news site, was named the "Best Forex Media Resource" at the 2014 U.K. Forex Awards.
OANDA was the first online provider of comprehensive currency exchange information, and today the company's OANDA Exchange Rates® 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).
For further information: For media inquiries, please contact: Bernice Couto, Global PR Manager, OANDA Corporation, 416 593 6767, ext. 111386, [email protected]