OANDA Offers Live Account with $50 Startup for Canadian FX Clients

OANDA, a broker specializing in FX trading services, has announced the launch of ’Seconds-to-Trade,’ a trading service for Canadian clients that circumvents traditional FX account registration timeframes, allowing for the use of live trading accounts in under two minutes, according to an OANDA statement.

Streamlined Approach to Live Trading

Toronto-based OANDA provides a variety of services for Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term clients, with this latest offering targeting new users who traditionally have to wait for account verification. It is most often the case that in light of legal and regulatory obligations, a period of approximately fifteen days or less will elapse for the approval of new accounts, and in which case an FX trader is then equipped with the capacity to trade.

According to Natasha Lala, Vice-President of Engineering at OANDA Corporation in a statement on the launch, “OANDA is an innovator - from day one, we have been focused on upending the forex market using technology. We were one of the first to offer Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term and we introduced several other firsts to the marketplace, including immediate execution, instant settlement on trades, and trades of any size between one unit and 10 million units. In addition to innovation, one of our core strengths is customer service. Our clients asked for a simplified account registration in order to act quickly on market movements, and we are proud to deliver that today.”

New Users Receive $50 with Each Account

OANDA’s launch of its newest offering equips traders with live accounts, also including a rebate of $50 upon opening an fxTrade account, as explained to Forex Magnates. Additionally, users are obligated to fund their account and verify their identity within thirty days of opening the account – following the successful verification of their identification they will be granted the privilege to withdraw money.

“We live in a digital world and customers online, rightfully, demand speed and quality from brands regardless of industry. OANDA has, and will continue to, use technology as an forex disruptor to help ensure we are delivering on customer expectations before they even exist. Today, we’ve enabled our Canadian clients to start trading as fast as the market moves and then execute their trades in near single-digit millisecond speeds. And we won’t rest there. This is only the beginning,” added Ed Eger, President and CEO of OANDA Corporation in a statement on the ’Seconds-to-Trade’ offering and recent interviewee of Forex Magnates.