TechWeb

OANDA Launches Free iPad Forex Trading Application

Jul 02, 2010 (11:07 AM EDT)
URL: http://www.techweb.com/show-press-release/X810089/oanda-launches-free-ipad-forex-trading-application.html

Leading foreign exchange dealer continues its history of innovation with the first native iPad app for currency trading

NEW YORK, July 2 /PRNewswire/ -- OANDA Corporation, provider of innovative online forex trading and the world's most accurate currency data, has built a richly featured native application that offers the tight spreads and trading advantages of fxTrade™—the company's award-winning forex trading platform—on Apple's popular new iPad mobile device.

Available as a free download from Apple iTunes, OANDA fxTrade for iPad is designed to make the most of the iPad's large display, rich visual experience, and responsive touch screen. It shows several dynamic views of market data on a single screen so traders can make fast trading decisions anywhere, anytime.

Features include:

  • 24/7 currency trading at interbank rates
  • A live-streaming rate feed, with rich central displays of trade, market, and rate data
  • Immediate trade execution on all major currency pairs, popular cross pairs, and 4 precious metal pairs
  • Scrollable, expandable charts in multiple timeframes, with up to 4 charted pairs shown simultaneously
  • Ability to set market orders: take profit, stop loss, trailing stops
  • Live updates of customer account details: unrealized/realized P&L; margin used/available; net asset value

OANDA's launch of an iPad forex trading app follows close on the heels of a native iPhone trading app released by the company last month. With the worldwide demand for mobile devices growing rapidly—Morgan Stanley predicts (PDF) that mobile devices will out-ship the global PC market (notebook, netbook, and desktop combined) by 2012—OANDA's commitment to innovation in the forex marketplace is reflected in the company's drive to provide customers with relevant trading experiences.

"The iPad represents a leap forward in usability and human-computer interactions, and we believe it will turn out to be a game changer. Being first out the gate with a mobile offering built specifically for the iPad is the type of innovation our customers have come to expect from OANDA," says Michael Stumm, CEO of OANDA Corporation. "At OANDA we want forex trading to be open and accessible, and our mobile platforms are an important part of our vision of a market that is available to anyone, anywhere, anytime."

About OANDA

OANDA started in 1995 as the first online provider of comprehensive currency exchange information. Since then the OANDA Rate® has become the benchmark for corporations, tax authorities, auditing firms, and central banks. In 2001 OANDA launched fxTrade, the first fully automated online forex trading platform. fxTrade was the first platform 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 U.S. Commodity Futures Trading Commission (CFTC) and is a forex dealer member of the U.S. National Futures Association (NFA). OANDA Corporation owns the following subsidiaries: OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore with a Capital Markets Services license; and OANDA Middle East Corporation Ltd., with a license from the Dubai Financial Services Authority (DFSA). OANDA Canada is regulated by the Investment Industry Regulatory Organization of Canada (IIROC).

SOURCE OANDA Corporation