OANDA, one of the largest forex brokers, has bought the first forex social network and copy trading firm Currensee. Both firms put an emphasis on technology.
More details are available in the press release below:
LONDON – September 24, 2013 – OANDA, a pioneering global provider of innovative foreign exchange trading services and parent company of OANDA Europe Limited, today announced that it has acquired Boston-based Currensee Global Inc., a leader in forex market copy trading within a proprietary social trading network. Together, the integration of the two leading technology platforms from OANDA and Currensee will provide traders with a unique offering.
Copy trading, a method by which traders can mirror the trading behaviour of experienced forex investors from around the world, has realized tremendous growth in recent years. In addition, copy trading makes it possible for individual traders to share research data and collaborate with other traders.
“With the acquisition of Currensee’s award-winning copy trading platform, OANDA’s clients will benefit from the collective experience of Currensee’s extensive community of traders,” said K Duker, CEO, OANDA Corporation. “Like OANDA, Currensee has a strong business vision coupled with an expert engineering pedigree. We are committed to continue serving the needs of all Currensee customers, Trade Leaders, and partners and look forward to making OANDA’s competitive spreads and superior execution available to this new group of traders.”
Technical teams are scheduled to begin the work to make the Currensee platform available to OANDA clients and a notice will be issued once this work is completed.
“The Currensee team is excited to join forces with OANDA, a company that shares our commitment to transparency and customer success,” said Dave Lemont, CEO, Currensee. “Our clients and partners will continue to receive best-in-class service from Currensee, and can expect even more as we work closely with OANDA to deliver an even better Trade Leaders Investment Program around the world.”
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