OANDA Asia Pacific, provider of innovative online foreign exchange trading services, have announced the expansion of operations in Singapore, to accommodate the growth in Asian retail FX sector and to provide customer support to its increasing customer base. OANDA Asia Pacific has tripled its operations in Singapore in the last two years. The company is now moving to bigger offices in the heart of Singapore’s plush new financial center at OUE Bayfront. Its new office has training and meeting facilities which can accommodate more clients.
According to Marion Lang, Head of Sales and Marketing for OANDA Asia Pacific, retail forex market in Asia was seen to be growing recently with the flow of investments from equities to FX. These changes proved that more traders are seeing the potential in forex trading. The market needs of these increasing number of traders were seen by OANDA, thus prompted the company to invest into their Singapore and Asian operations.
According to Stuart McPhee, an experienced trade strategist and OANDA’s Head of Education in Asia Pacific. “Asian FX traders are exploring the tremendous market potential with increasing volumes. The constant movement in the major currencies like Euro, Sterling and Yen offer challenging but exciting opportunities that are attracting more and more investors,”. McPhee also added, “OANDA provides one of the world’s leading platforms for trading FX. We are known for our technology and our commitment to transparency in the marketplace, which we feel is essential for helping traders understand the markets better and trade with more confidence. With freely shared market sentiment tools, market-leading prices, quality execution, and a reputation for being a fair dealer, we are confident our growth spurt will continue.”
OANDA’s Singapore subsidiary, the OANDA Asia Pacific was formally launched in Singapore four years ago and had been a great performer since 2010. The growth of the company may be credited to their strong client relationships in lieu with their commitment to provide excellent customer service and world-class FX trading experiences.
Recently, Oanda executed its one-billionth transaction as an online broker and hosted the fx Trade Race to the Billionth Transaction, as covered by IntelligentHQ here. The first three trades made after the milestone was hit shared a generous prize pool: Alejandro Garcia from California, USA, received the Gold prize of $10,000; Xinxi Wang of Singapore was awarded the Silver prize of $1,000; and Liguang Wang of Beijing, China was grabbed the Bronze prize of $500 USD.
According to Xinx Wang, 2nd place winner, “OANDA’s offering of low spreads decreases costs in their transactions as compared to other retail brokers”. This client offering is just one of the reasons why he continuously trades with OANDA. He places his trust in the company that it will constantly provide its FX traders with advanced technology and innovative trading tools and best-in-class execution through API.
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