Financial Technology

Financial Technology

September 27, 2013

OANDA Announces Acquisition of Currensee, a Forex Copy Trading Network

In order to establish company’s commitment’s towards growth and success, OANDA, a provider of innovative foreign exchange trading services and parent company of OANDA (Canada) Corporation ULC has announced the acquisition of Boston-based Currensee Global.

Currensee Global, a company in forex market copy trading within a proprietary social trading network offers investors and financial institutions with the ability to share trade information in a first-of-its-kind, transparent, convenient and trusted way.

Both the companies will  integrate their two leading technology platforms from OANDA and Currensee and will provide traders with a unique  benefits of a diversified and uncorrelated investment in trading.

Copy trading,  a method by which traders can mirror the trading behavior of experienced forex investors from around the world is the upcoming trend in which financial companies are undertaking as it offers everyone the opportunity to trade profitably. Ithas reported tremendous growth in recent years.

K Duker, CEO, OANDA Corporation, said in a statement, "With the acquisition of Currensee's award-winning copy trading platform, OANDA’s clients will benefit from the collective experience of Currensee’s extensive community of traders. Like OANDA, Currensee has a strong business vision coupled with an expert engineering pedigree. We are committed to continue serving the needs of all Currensee customers, Trade Leaders, and partners and look forward to making OANDA’s competitive spreads and superior execution available to this new group of traders."

The company is working on to make the Currensee platform available to OANDA clients and a notice will be issued once this work is completed.

Dave Lemont, CEO, Currensee, said, "The Currensee team is excited to join forces with OANDA, a company that shares our commitment to transparency and customer success. Our clients and partners will continue to receive best-in-class service from Currensee, and can expect even more as we work closely with OANDA to deliver an even better Trade Leaders Investment Program around the world."

Edited by Ryan Sartor

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