While celebrating its 20th anniversary, OANDA has rolled out a big update to its offering. The company is enabling hedging capabilities across its native fxTrade, MT4 and OANDA API offerings. The company has also deployed a new trading engine called V20, which is aiming to enhance the client trading experience.
The new execution is available for existing clients via opening a sub-account on their fxTrade platform with the benefits. The benefits include up to 3.7 times faster execution encompassing CFDs, currencies and metals. The number is based on tests conducted by OANDA in its July execution speed test.
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All holders of fxTrade accounts can also open an MT4 sub-account easily and conveniently through the account management system. The company is also introducing a depth of market concept with clients gaining the flexibility to execute their trades based on the underlying liquidity in the market.
Last but not least the new trading engine is removing a limitation on the maximum order size on some major foreign exchange pairs, including the EUR/USD, GBP/USD, USD/JPY and the AUD/USD. Clients will now be able to execute single orders worth up to $20 million, which is double the previous limitation of $10 million. For the time being other currency pairs will continue with the same maximum size.
The changes are significant and are aiming to make the company more competitive in a very rapidly changing environment. Back in May, OANDA deployed a solution from TradingView to enable advanced charting for its clients, and the latest changes are a further testimony to the firm’s ambition to continue developing its client offering.