Bolstering features in its newly acquired Currensee copy trading network, OANDA has rolled out a new function called “Circuit Breakers”. The first major upgrade to take place on the Currensee platform since it was bought by OANDA in September 2013, Circuit Breakers is a set of trading parameters enforced on copied traders. The new feature is slightly similar to risk management features where followers can elect to customize the amount of risk and size of copied trades. However, Circuit Breakers operates a bit differently.

Under the Circuit Breaker feature, trade leaders enter pre-selected limits on which currencies and how many open positions can be traded, leverage usage, and maximum per position and daily loss levels. In the event that a trade leader breaks any of the conditions, Circuit Breakers prevents additional positions from being traded or closes all trades when loss limits are breached.

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Speaking to Currensee Founder, Asaf Yigal, about the product, he explained to Forex Magnates that the benefit of the new feature is that it “provides pre and post-trade protection” to followers, and mimics “Fat Finger Rules” that are commonly used among professional trading desks.

Before the acquisition, OANDA had been offering Currensee to its customers, with the product integrated on to the fxTrade platform in March. According to Yigal, Currensee currently has 25 trade leaders available on the platform. In terms of OANDA customers using Currensee, while the broker doesn’t publicly provide specific client details, they did state to Forex Magnates that from December till the end of April, client copy trading volumes had quadrupled.