European customers benefit from unique features that help diversify risk and encourage peer learning
OANDA fxUnity is designed for aspiring currency traders who want a social, interactive trading experience in either real or practice environments – online or via mobile device. With fxUnity, clients invest in a diversified basket of currency pairs rather than a single currency pair.
Users can follow each other on the fxUnity platform and copy each other’s trades directly from the community or friend feeds. If they enter a trade by mistake, the “undo” feature gives them 10 seconds to correct the error on a maximum of three trades per calendar week.
Antony Broadbent, who is managing director of OANDA Europe, said the new platform is a unique offering that makes a welcome addition to the division’s product lineup.
“We are delighted to be launching fxUnity in Europe. As the market continues to grow and evolve, it is important to offer a variety of trading experiences that match the diverse needs of different types of customers,” said Broadbent. “With its social trading components and innovative features like the ability to take positions on individual currencies rather than currency pairs, fxUnity complements fxTrade perfectly.”
Margin trading comes with its share of financial risks, so OANDA has designed fxUnity with limited leverage available to traders. The platform provides a user-friendly, interactive dashboard so traders can monitor their funds closely and follow the activities of fellow fxUnity traders to shed light on market sentiment. Following the initial rollout, additional features and functionality will be introduced on an ongoing basis.
OANDA Corporation has transformed the business of foreign exchange through an innovative approach to forex trading. The company’s leading online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; instant settlement on trades; trades of any size between one unit and 10 million units; 24/7 trading; and interest calculated by the second. OANDA was the first online provider of comprehensive currency exchange information, and today the company’s OANDA Rate® data are the benchmark rates for corporations, tax authorities, auditing firms, and central banks. OANDA also offers global currency transfers at ultra-competitive prices through a fast, efficient, automated platform.
Hayden Richards is the Associate Publisher, Chief Operations Officer and Co-founder of IntelligentHQ. He specialises in finance, trading, investment, and technology, with expertise in both buy-side, sell-side. Contributing and advising various global corporations, Hayden is a thought leader, researching on global regulatory subjects, digital, social media strategies and new trends for Businesses, Capital Markets and Financial Services.