OANDA goes up against UK giants, adding financial spread betting

Some interesting news from OANDA Europe, the UK subsidiary of global FX expert OANDA Corporation, as it starts offering spread betting to its existing clients in the UK and Republic of Ireland from today. The offer is poised to be available to a wider UK audience from September 1, 2015.

OANDA is offering spread betting on its proprietary fxTrade platform, as well as on MetaTrader 4 (MT4). The product is covering over 70+ currency pairs, CFDs and indices.

“The growth of our EMEA business has been based on providing one of the most competitive products and platforms for our clients within their geographical locations,” said Daniel Skowronski, Managing Director and CEO of EMEA and Americas for OANDA.

“For us, product development and risk management go hand in hand. Today, we are enabling our clients to benefit from the advantages spread betting offers in conjunction with an increase in leverage of 100:1 across all major currency pairs. This combined with our ongoing education and risk management courses to our clients, encourages appropriate use of our services.”

Spread betting enables traders to speculate whether the price of an asset will rise or fall, with additional advantages in the UK including exemption of income tax, capital gains tax and stamp duty.

Data from Investment Trends UK Leveraged Trading Report (July 2014) shows that there are around 72,000 active spreadbetters across the UK. This adds weight to OANDA’s decision to tap this market and meet client demand for spread betting.

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