Traders can purchase the challenges with top cryptocurrencies and stablecoins, including meme tokens.
The addition of crypto came “in response to rising global demand.”
OANDA’s prop trading arm, OANDA Prop Trader, has enhanced its service by enabling traders to pay for its challenges with cryptocurrencies, Finance Magnates learned exclusively. It will now support payment with about two dozen cryptocurrencies, including stablecoins.
Stablecoins to Meme Tokens
The newly supported payment mode includes top cryptocurrencies and stablecoins like Bitcoin, Ethereum, Litecoin, Binance Coin, TUSD, USDC, and USDT. Further, traders can also pay for their challenges using meme coins like DOGE and SHIB.
“We're pleased to announce that we're adding crypto as a payment method in response to rising global demand,” said Lucian Laureman, Head of Digital Assets and Deputy COO at OANDA.
“A large number of 'tech-driven consumers' in the countries serviced by OANDA Prop Trader are embracing cryptocurrencies, so this is opening new doors for those traders who want to maximise the digital economy as a gateway into prop trading.”
A Brokerage Brand in Prop Trading
OANDA jumped into the prop trading business earlier this year. Although initially, it launched the services under the brand OANDA Labs Trader, it quietly changed the branding to OANDA Prop Trader to better resonate with the proffered services.
Clarifying its business model, OANDA detailed that the qualified traders on the prop trading platform will be technically treated as signal providers. The proprietary trading models of OANDA will use the signals produced by the traders “in combination with other input variables to guide OANDA's market positioning decisions.”
It further detailed that the capital provided to the funded accounts is virtual; however, it will put the company’s proprietary capital at risk because real market positions will be taken based on the signals from the traders.
Apart from OANDA, several other retail brokerages have also entered prop trading. While Trade.com and Traders Trust were the latest entrants, Axi and Hantech were among the first to make their debut in the growing market. Finance Magnates recently reported that FX industry veteran Joshua Dentrinos partly acquired prop trading brand Funded Peaks.
Earlier, OANDA's Head of Emerging Markets also told Finance Magnates in an interview that "the prop firm industry has the potential to outgrow the traditional FX/CFD industry because it is more accessible, has lower barriers to entry, such as upfront fixed fees, and involves limited downside risk."
OANDA’s prop trading arm, OANDA Prop Trader, has enhanced its service by enabling traders to pay for its challenges with cryptocurrencies, Finance Magnates learned exclusively. It will now support payment with about two dozen cryptocurrencies, including stablecoins.
Stablecoins to Meme Tokens
The newly supported payment mode includes top cryptocurrencies and stablecoins like Bitcoin, Ethereum, Litecoin, Binance Coin, TUSD, USDC, and USDT. Further, traders can also pay for their challenges using meme coins like DOGE and SHIB.
“We're pleased to announce that we're adding crypto as a payment method in response to rising global demand,” said Lucian Laureman, Head of Digital Assets and Deputy COO at OANDA.
“A large number of 'tech-driven consumers' in the countries serviced by OANDA Prop Trader are embracing cryptocurrencies, so this is opening new doors for those traders who want to maximise the digital economy as a gateway into prop trading.”
A Brokerage Brand in Prop Trading
OANDA jumped into the prop trading business earlier this year. Although initially, it launched the services under the brand OANDA Labs Trader, it quietly changed the branding to OANDA Prop Trader to better resonate with the proffered services.
Clarifying its business model, OANDA detailed that the qualified traders on the prop trading platform will be technically treated as signal providers. The proprietary trading models of OANDA will use the signals produced by the traders “in combination with other input variables to guide OANDA's market positioning decisions.”
It further detailed that the capital provided to the funded accounts is virtual; however, it will put the company’s proprietary capital at risk because real market positions will be taken based on the signals from the traders.
Apart from OANDA, several other retail brokerages have also entered prop trading. While Trade.com and Traders Trust were the latest entrants, Axi and Hantech were among the first to make their debut in the growing market. Finance Magnates recently reported that FX industry veteran Joshua Dentrinos partly acquired prop trading brand Funded Peaks.
Earlier, OANDA's Head of Emerging Markets also told Finance Magnates in an interview that "the prop firm industry has the potential to outgrow the traditional FX/CFD industry because it is more accessible, has lower barriers to entry, such as upfront fixed fees, and involves limited downside risk."
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Traders Await Payouts from This Prop Firm for Six Months
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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