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Industry Financial Services
Currency Trading
Founded 1996 (1996)[1][2]
Headquarters Toronto, Canada
Key people
Richard Olsen, Co-Founder
Dr Michael Stumm, Co-Founder
Edmond Eger III, CEO
Website www.oanda.com

OANDA is a Canadian-based foreign exchange company providing currency conversion, online retail foreign exchange trading (forex), online foreign currency transfers, and forex information. In the US it is a non-bank Futures Commission Merchant (FCM) specialized in spot forex trading and a registered FCM with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).[3]


OANDA was co-founded by Michael Stumm, a professor of Computer Engineering at the University of Toronto, and Richard Olsen of The Olsen Ltd., a leading econometric research, and development firm.[4] [5]

OANDA is an outgrowth of the Swiss Olsen Group and was created to serve as an internet trading platform to automate techniques based on the group's research in foreign exchange trading.[6] Much of OANDA's technology is based on algorithms published in the book High Frequency Finance,[7] which was co-authored by Dr. Richard Olsen, a principal of OANDA and co-inventor of these algorithms.

In 1996, OANDA Corporation, the US subsidiary, was incorporated in the state of Delaware, and initially provided online access to live currency information that was previously inaccessible to the public at large. At its inception, oanda.com offered free currency conversion tools, tables of historical data, news, and analysis through a multilingual interface.[8]

On December 2, 2013, OANDA appointed Edmond Eger III as a new CEO in place of K Duker.[9]


The company’s main product is their electronic trading platform fxTrade, currency conversion tools, a foreign exchange wire service (fxGlobalTransfer), a corporate hedging consulting service (FXConsulting), discussion forums, tables of historical currency data, as well as foreign exchange news and analysis.[10] They also provide conversion tools and currency charts and indexes and information for travelers.[11] Mathematician Benoît Mandelbrot mentioned OANDA's fxTrade platform as one example of how the foreign exchange market works when small investors and big investors are set on an equal footing, having removed the unfair commission structure.[1]

See also[edit]


  1. ^ a b Benoît Mandelbrot; Richard L. Hudson. The (Mis)Behavior of Markets: A Fractal View of Risk, Ruin, and Reward. Basic Books. p. 257. ISBN 0-465-04355-0. 
  2. ^ https://www.oanda.com/resources/about/
  3. ^ "BASIC Details". NFA - National Futures Association. Retrieved 2016-10-04. 
  4. ^ http://www.oanda.com/corp/story/
  5. ^ http://www.eecg.toronto.edu/~stumm/
  6. ^ "Research-coming from a trading floor near you", Michael Halls, Global Finance, published June 2003, accessed December 30, 2006.
  7. ^ Dacorogna, Michel M.; Gençay, Ramazan; Muller, Ulrich A.; Pictet, Olivier; Olsen, Richard (2001). An Introduction to High-Frequency Finance. Academic Press. ISBN 0-12-279671-3. 
  8. ^ Alaton, Salem (March 8, 2001). "Need some yen in a hurry? Try the Web; New services to let travellers order foreign; currencies on-line for overnight delivery". The Globe and Mail. 
  9. ^ "OANDA Corporation Appoints New President and Chief Executive Officer". ForexBrokerNews.com. 2013-12-02. Retrieved 2013-12-04. 
  10. ^ OANDA web site, plus Quick access: find statistical data on the Internet, Di Su, "Information Outlook", published May 1999, accessed December 30, 2006.
  11. ^ Oanda Review in Daily Forex - Forex Trading by DailyForex

External links[edit]