OANDA Offers Live Account with $50 Startup for Canadian FX Clients

OANDA, a broker specializing in FX trading services, has announced the launch of ’Seconds-to-Trade,’ a trading service for Canadian clients that circumvents traditional FX account registration timeframes, allowing for the use of live trading accounts in under two minutes, according to an OANDA statement.

Streamlined Approach to Live Trading

Toronto-based OANDA provides a variety of services for Forex clients, with this latest offering targeting new users who traditionally have to wait for account verification. It is most often the case that in light of legal and regulatory obligations, a period of approximately fifteen days or less will elapse for the approval of new accounts, and in which case an FX trader is then equipped with the capacity to trade.

According to Natasha Lala, Vice-President of Engineering at OANDA Corporation in a statement on the launch, “OANDA is an innovator - from day one, we have been focused on upending the forex market using technology. We were one of the first to offer Online Trading and we introduced several other firsts to the marketplace, including immediate execution, instant settlement on trades, and trades of any size between one unit and 10 million units. In addition to innovation, one of our core strengths is customer service. Our clients asked for a simplified account registration in order to act quickly on market movements, and we are proud to deliver that today.”

New Users Receive $50 with Each Account

OANDA’s launch of its newest offering equips traders with live accounts, also including a rebate of $50 upon opening an fxTrade account, as explained to Forex Magnates. Additionally, users are obligated to fund their account and verify their identity within thirty days of opening the account – following the successful verification of their identification they will be granted the privilege to withdraw money.

“We live in a digital world and customers online, rightfully, demand speed and quality from brands regardless of industry. OANDA has, and will continue to, use technology as an forex disruptor to help ensure we are delivering on customer expectations before they even exist. Today, we’ve enabled our Canadian clients to start trading as fast as the market moves and then execute their trades in near single-digit millisecond speeds. And we won’t rest there. This is only the beginning,” added Ed Eger, President and CEO of OANDA Corporation in a statement on the ’Seconds-to-Trade’ offering and recent interviewee of Forex Magnates.