Oanda Currency Converter

OANDA opens European headquarters in London

London, UK (PRWEB) June 22, 2011

OANDA Corporation, provider of innovative online forex trading , highly competitive global currency transfers , and the world's most accurate currency data , has opened an office in London to manage the company's newest subsidiary, OANDA Europe Limited. The launch is part of OANDA's goal to expand business development efforts in the UK and Europe and support existing clients with a stronger regional presence.

OANDA now has five offices worldwide, in New York, Singapore, Toronto, Dubai, and London. Each is fully regulated in its respective jurisdiction.

"OANDA has been on a sustained growth trajectory since we introduced our revolutionary forex trading platform, fxTrade, back in 2001; OANDA Europe marks another important phase of our global expansion strategy," said Michael Stumm, CEO of OANDA Corporation. "Our UK and European clients will now have the advantages of trading under rules tailored to their jurisdiction. We look forward to delivering these clients more personal service along with the ultra-tight spreads, quality execution, and consistent liquidity they expect from OANDA."

Antony Broadbent is managing director of OANDA Europe Limited. He brings more than 15 years of financial services experience to his role at OANDA. Broadbent has held a number of senior management positions at institutions regulated by the UK FSA, including Alliance Bernstein and Capital One. He also spent 10 years with leading international management consultants McKinsey & Company.

"The launch of OANDA Europe is the culmination of a great deal of hard effort, and along the way we've gained a deep understanding of how to be more responsive to the needs of this market," said Broadbent. "Currency traders in the UK and Europe are looking for pricing and liquidity; OANDA's innovative approach delivers what they need, and more. Our open, flexible trading environment gives clients clear information about trading costs and the ability to trade the way they want to - without paying a penalty."

Broadbent pointed out that nearly 40 percent of the world's foreign exchange activity passes through the UK capital. "London is the centre of the global forex market. It makes perfect sense for OANDA to have a base here - it's the ideal location from which to serve our clients all across continental Europe."

OANDA Europe Limited is regulated by the UK Financial Services Authority (FSA), an independent body granted a wide range of rule-making, investigatory and enforcement powers by the Financial Services and Markets Act 2000. For more information please visit fxtrade.oanda.co.uk .

Review: Oanda Currency Converter App

If you’re a small business person, chances are at some point you’ve dealt with money. Whether you spend it, make it, or change it, you’ve dealt with currency. And if you’re dealing with different currencies from different countries, you need a fast and easy way to convert it. You can keep a copy of the day’s Wall Street Journal around with you, or you can turn to the power of the app for small business. And today we’re talking about the Oanda Currency Converter, tailor made for those who handle cash in other countries’ denominations.

The Oanda Currency Converter works very simply. Just start it up, select the currency you’re about to take, and then select the currency you’re currently working in. Then apply the relevant modification rate, including the 2% credit card rate, the 4% cash rate, or an interbank rate between zero and ten percent. Then just fill in the numbers to have the conversion made automatically according to the current exchange rates as you receive them via wi-fi or 3G. For instance, if you’re out in Israel, and a vendor wants 15 New Shekels for that nice scarf, you’d need $4.35 US. You’ll even be able to perform conversions across ounces of four different metals: gold, silver, platinum and palladium.

I like how easy this app is to use. It’s as simple as punching a few buttons on your touch screen and turning your tab at an English pub into the appropriate amount in US dollars. Whether you’re the one doing the spending, or you’re on the receiving end, you always know how much money you need in one currency in order to pay your bill (or have your bill paid) in another. Sure, it’s nothing that Google can’t do, but you’ll be able to get this app into a lot of places where your laptop would be a lot less convenient. And, just for added value, it’s completely free. Plus it’s available for several different platforms , including iOS , Android, and Blackberry , so chances are your sidearm of choice will do just fine here.

Though one thing I dislike about it, for the best possible exchange rates, you’ll need to be near a wi-fi source, or in an area where 3G is available to you. Admittedly, there’s precious few places out there where one of the two isn’t available, and you’ll be reasonably accurate as long as you get at least one update in a day, but the requirement is a bit unsettling.

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