Oanda buys social trading service Currensee


Currensee had been built with about $20 million of venture capital funds.

We’ll have more on this later, but for now here’s the press release:

OANDA Announces Acquisition of Forex Copy Trading Network

Currensee Acquisition Reaffirms OANDA’s Commitment to Growth and Market Leadership

TORONTO–(BUSINESS WIRE)–OANDA, a pioneering global provider of innovative foreign exchange trading services and parent company of OANDA (Canada) Corporation ULC, today announced that it has acquired Boston-based Currensee Global Inc., a leader in forex market copy trading within a proprietary social trading network. Together, the integration of the two leading technology platforms from OANDA and Currensee will provide traders with a unique offering.

“The Currensee team is excited to join forces with OANDA, a company that shares our commitment to transparency and customer success”

Copy trading, a method by which traders can mirror the trading behaviour of experienced forex investors from around the world, has realized tremendous growth in recent years. In addition, copy trading makes it possible for individual traders to share research data and collaborate with other traders.

“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,” said K Duker, CEO, OANDA Corporation. “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.”

Technical teams are scheduled to begin the work to make the Currensee platform available to OANDA clients and a notice will be issued once this work is completed.

“The Currensee team is excited to join forces with OANDA, a company that shares our commitment to transparency and customer success,” said Dave Lemont, CEO, Currensee. “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.”

For more information, please visit: www.oanda.ca, and follow us on Twitter, Facebook or YouTube.

About OANDA

OANDA (Canada) Corporation ULC is a member of the Canadian Investor Protection Fund and is fully regulated by the Investment Industry Regulatory Organization of Canada (IIROC).

OANDA 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; and interest calculated by the second. The company’s many awards attest to the power and flexibility of its trading platform. In 2012, OANDA was named “Best Forex Provider” by the Financial Times and by Investors Chronicle; “Best FX Broker” by Forex Magnates; and was recognized by Investment Trends Singapore as providing “Best Value for Money” and “Highest Overall Client Satisfaction”.

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, auditing firms, and global banks. The company has five offices worldwide, in Chicago, London, Singapore, Tokyo, and Toronto.

About Currensee

The Currensee Trade Leaders™ Investment Program is the industry’s first Forex alternative investment product. Currensee provides investors and financial institutions with the ability to share trade information in a first-of-its-kind, transparent, convenient and trusted way.

Currensee is registered with the Commodity Futures Trading Commission (CFTC) as an Introducing Broker (IB) and is a member of the National Futures Association (NFA) member number 0403251. Currensee is also authorized by the Financial Conduct Authority (FCA), firm reference number 518648, and registered in England and Wales, companies’ house number 07025997.

Contacts

Cognito for OANDA Corporation
Jon Schubin/Melissa Barrero
+ 1-646-395-6324
[email protected]
www.cognitomedia.com
or
OANDA Corporation
Bernice Couto, + 1-416-593-9436, ext. 386
Global PR Manager
[email protected]
or
Currensee
David Karp, +1-617-642-1394
VP of Marketing
[email protected]

 

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Oanda buys social trading service Currensee

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