Oanda Corp., a global multi-asset brokerage giant, announced that they would reduce the spreads on a number of the prime indices in their portfolio to lower the trading price incurred by their clients. Specifically, US NAS 100, Australia 200, US Wall St 30, Germany 30, and UK 100 are some of the indices to have spreads lowered to as much as 0.5pips. Oanda clients and traders on V20, a brokers’ proprietary trading platform, are the ones to access the much tighter spreads. Legacy platform traders would have to open a V20 sub-account to allow them have access to the new spreads.
Oanda’s very own able and talented President and C.E.O Vatsa Narasimha said that they pride in assisting clients succeed in self-directed trading through enhanced institutional-grade trading platform, state-of-the-art trading tools, award-winning educational literature, and modern charting solutions. He also added that the company has worked hard over the last 23 years to meet and exceed customer expectations, as the customers have grown more interested in indices with tighter spreads. The company’s response to offer tighter spreads during their cash hours would allow a drop on the cost of trading on Oanda’s V20 platform, and clients would continue enjoying the benefits of a fully-automated execution as well as attractive, transparent pricing.
The underlying market opening hours determine CFD’s trading hours. The instruments cannot be traded on holidays for their markets. In addition, the US and Japan residents would neither trade indices nor CFD commodities. Oanda made another announcement through their Facebook account that they had unveiled a Trading Performance platform for their V20 live accounts.
With a new tool that uses customer’s trading data, clients would be able to sharpen their trading skills. As a pioneer forex brokerage firm with its headquarters located in Canada, Oanda’s product offering include currency pairs trading, precious metals and CFDs, and operates through Toronto, New York, San Francisco, London, Sydney, Tokyo, and Singapore offices, where the relevant authorities keep them in check through regulation.