Forex Trading Gets Easier with New App from Oanda

Forex Trading Gets Easier with New App from Oanda-Image by Getty Images via @daylife

OANDA Corporation, provider of innovative online forex trading and the world’s most accurate currency data, has developed a free currency conversion application for Microsoft’s revamped mobile operating system, Windows Phone 7 (WP7), which was officially introduced October 11, 2010.

The OANDA Windows Phone 7 Currency Converter app is the first native app built by OANDA for the WP7 mobile platform. It provides access to currency data powered by OANDA Rates® — the daily filtered rates relied on by multinational corporations, tax authorities, auditing firms, financial institutions, and central banks.

The app allows WP7 users to calculate foreign exchange rate conversions for more than 190 currencies and four metals. An innovative design displays both the “bid” and “ask” rates for each currency, and allows users to add percentages to their conversions for more realistic rates. For example, users can opt to convert currencies at the higher rates typically charged by banks and credit card companies, in addition to making conversions at the published interbank market rate.

“We are pleased to be among the first wave of companies to develop an app for Microsoft’s new mobile operating system,” said Michael Stumm, CEO, OANDA Corporation. “As mobile experiences become more of a fixture in our daily lives, OANDA’s mobile development strategy will evolve to support our customers’ expectations for access to innovative currency tools anywhere, anytime.”

About OANDA

OANDA started in 1995 as the first online provider of comprehensive currency exchange information. Since then the OANDA Rate® has become the benchmark for corporations, tax authorities, auditing firms, and central banks. In 2001 OANDA launched fxTrade, the first fully automated online forex trading platform. fxTrade was the first platform to offer immediate execution, support trades and accounts of any size, enable true 24/7 trading, and eliminate the rollover swap by calculating interest by the second. OANDA’s innovative technology has enabled it to sustain a large trading volume. Peak performance has been measured at 1.5 million trades a day, far exceeding the volume typically handled through any of the leading global banks or electronic communication networks (ECNs) that trade forex.

OANDA Corporation is a registered Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC) and is a forex dealer member of the U.S. National Futures Association (NFA). OANDA Corporation owns the following subsidiaries: OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore with a Capital Markets Services license; OANDA Middle East Corporation Ltd., with a license from the Dubai Financial Services Authority (DFSA); and OANDA Canada, regulated by the Investment Industry Regulatory Organization of Canada (IIROC).

SOURCE OANDA Corporation

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