OANDA, a longtime player in the
multi-asset retail trading industry, has announced its plans to finally shut
down its operations in Malta on March 17, 2023, and run its European business
“under one regulated entity” from Poland. The broker announced on Monday that
it will transfer its business to its Polish subsidiary, OANDA TMS Brokers,
following its Malta exit.
Under its Maltese license, OANDA operates under OANDA Europe Markets
Limited (OEML). However, this Maltese subsidiary will stop offering
services “currently provided on the basis of OANDA Europe Markets Limited
Retail and Professional Clients Terms of Business (‘ToB’),” the broker announced.
OANDA noted the move will help it to
“consolidate its operations” in Europe under OANDA TMS which is registered in
Poland and regulated by the Polish Financial Supervision Authority.
“Under this reorganization, which reflects
OANDA’s emphasis on enabling smarter trading for clients, active traders in
Europe will be able to gain access to the broader TMS product offering, which
includes a wider range of asset classes and a cutting-edge platform integrated
with MT5,” OANDA explained in the statement.
Watch the recent FMLS22 session on the importance of prop trading accounts to the brokerage business.
The broker, which recently unveiled a new visual identity,
pledged that it will carry out the change in operations “in the least
disruptive way possible”. It noted that its clients have been informed of the
change and have been given options on how to go about their existing trading accounts with OEML.
Going forward, OANDA added, the
brokerage brand will be built “on the foundations of TMS’ multi-asset offering
and cutting-edge tech stack to accelerate business growth and better support
clients across Europe.”
OANDA
Expands Offering, Strengthens Workforce
Meanwhile, OANDA recently expanded its
customer offering by introducing crypto trading to its
platform for users in the United States. The project was launched in partnership with Paxos, a
blockchain infrastructure company.
On the other hand, OANDA in recent months
rejigged its leadership team across other regions. While Galin Georgiev joined
as Head of Product Operations in October, Jessica Beckstead
became the Managing Director of North America and the Chief Executive
Officer in the United States in September. In addition, OANDA in July promoted Philip Waters to
Head of Asia Pacific and Emerging Markets.
OANDA, a longtime player in the
multi-asset retail trading industry, has announced its plans to finally shut
down its operations in Malta on March 17, 2023, and run its European business
“under one regulated entity” from Poland. The broker announced on Monday that
it will transfer its business to its Polish subsidiary, OANDA TMS Brokers,
following its Malta exit.
Under its Maltese license, OANDA operates under OANDA Europe Markets
Limited (OEML). However, this Maltese subsidiary will stop offering
services “currently provided on the basis of OANDA Europe Markets Limited
Retail and Professional Clients Terms of Business (‘ToB’),” the broker announced.
OANDA noted the move will help it to
“consolidate its operations” in Europe under OANDA TMS which is registered in
Poland and regulated by the Polish Financial Supervision Authority.
“Under this reorganization, which reflects
OANDA’s emphasis on enabling smarter trading for clients, active traders in
Europe will be able to gain access to the broader TMS product offering, which
includes a wider range of asset classes and a cutting-edge platform integrated
with MT5,” OANDA explained in the statement.
Watch the recent FMLS22 session on the importance of prop trading accounts to the brokerage business.
The broker, which recently unveiled a new visual identity,
pledged that it will carry out the change in operations “in the least
disruptive way possible”. It noted that its clients have been informed of the
change and have been given options on how to go about their existing trading accounts with OEML.
Going forward, OANDA added, the
brokerage brand will be built “on the foundations of TMS’ multi-asset offering
and cutting-edge tech stack to accelerate business growth and better support
clients across Europe.”
OANDA
Expands Offering, Strengthens Workforce
Meanwhile, OANDA recently expanded its
customer offering by introducing crypto trading to its
platform for users in the United States. The project was launched in partnership with Paxos, a
blockchain infrastructure company.
On the other hand, OANDA in recent months
rejigged its leadership team across other regions. While Galin Georgiev joined
as Head of Product Operations in October, Jessica Beckstead
became the Managing Director of North America and the Chief Executive
Officer in the United States in September. In addition, OANDA in July promoted Philip Waters to
Head of Asia Pacific and Emerging Markets.