Technology focused Canadian online trading company OANDA has reported continued revenue growth in the first quarter of the year on the heels of an extremely successful fourth quarter. The award-winning retail broker attributes its growth of record-breaking active account growth of 7.1% in a single quarter to retail trading volume that continues to surpass expectations.
It is of interest to note that the firm has not provided any specific volume figures for the quarter.
Looking back at the events which punctuate the first quarter of the year, on January 15, 2015, OANDA made the unprecedented decision to forgive their clients’ negative Swiss franc (CHF) balances after the unexpected outcome of the Swiss National Bank’s decision to remove the franc’s peg against the euro.
“In the first quarter of 2015, we focused on key technology advancements and continued to solidify our position as a leading global retail broker,” said Ed Eger, president and chief executive officer, OANDA Corporation. “OANDA continues to focus on reliable, diversified business offerings and unparalleled customer service which enhances our ability to maximize revenue efforts while placing us in a strong position for the coming year.”
In addition to record first quarter results, the evolution of OANDA’s multitude of products and services continues as enhancements were announced to its application programming interface (API) suite during the first quarter, including an improved developer portal, new partner integration and new APIs for the OANDA fxLabs tools and customized indicators for MetaTrader 4.
Additionally, clients can now register for, and fund, an fxTrade account via the OANDA award-winning fxTrade Mobile application. In a matter of minutes, new traders can register for a live account, upload verification documents, fund the account and immediately start trading – directly from their smartphone or tablet.
For the official announcement from OANDA, click here.