OANDA opens shop in Sydney, Australia

OANDA, one of the largest forex brokers,  announced the opening of an office in Sydney, Australia. The office is managed by Louis Cooper and focuses on clients Australia and New Zealand. The company says it is “bucking the overall industry trend” by growing steadily across Asia.

For more details, here is the official press release:

LONDON – May 14, 2014 – OANDA, a global provider of innovative foreign exchange trading services, officially opens its offices in Australia today. Since launching its operations in Asia Pacific (APAC), OANDA has been awarded by retail FX and CFD traders as providing the Best Customer Service and the Highest Overall Client Satisfaction in the region. With its new office in Sydney, OANDA is poised to deliver its local customers the same exemplary service.

“OANDA has a strong legacy of innovation and we’re always looking for ways to disrupt the market,” said Louis Cooper, Managing Director, OANDA Australia. “We are a technology company at our core; we are always working to discover new and better ways to leverage that technology for the benefit of our clients. We’ve arrived in Australia to empower traders and help them to better manage their trading strategies over the long term.”

OANDA already has several thousand active traders in Australia and Cooper intends to double the company’s market share in the CFD and FX sector in 2014.

“The fact we already have a significant client base in Australia and New Zealand is a testament to the attractiveness of our offering. As well as being heavily awarded for our service, OANDA has a strong reputation, including some of the lowest latency in the industry, no hidden fees, no trade rejections, and a clean record with all of our regulators around the globe,” said Cooper. “The quality of our pricing and execution, coupled with innovative offerings, such as our OANDA Trade Leaders Program copy-trading service and our multi asset class execution on MT4, sets us apart from our competitors and helps gives our traders an edge.”

The launch in Australia is part of OANDA’s overall growth strategy in APAC – a market that represented 24% of the company’s global growth in 2013.

“OANDA is bucking the overall industry trend. While there is a small decline in FX trading in markets such as Australia and Singapore, we have been growing steadily year on year across Asia,” said Rajesh Yohannan, Managing Director of OANDA Asia Pacific. “We see Australia and New Zealand as significant growth opportunities given the relative size of the FX and CFD market in the region and the high demand we’ve seen from traders here.”

Further reading:  OANDA adopts open approach to technology