Oanda Asia Pacific and parent Oanda, a provider of online foreign exchange trading services, have added nine new currency cross pairs to the existing 48 pairs offered on the web-based Oanda FXTrade forex trading platform.
The newly added pairs are AUD/SGD, CHF/CAD, GBP/AUD, GBP/NZD, GBP/ZAR, TRY/JPY, XAG/JPY, CHF/ZAR and ZAR/JPY.
OANDA has been able to access the deep pool of liquidity offered by the global retail foreign exchange market, and respond with lower spreads, particularly for Japanese Yen (JPY) crosses.
The new pairs include additional Yen crosses: to silver (XAG), and to the South African Rand (ZAR) and the Turkish Lira (TRY), two currencies known for their high interest rates and of particular interest to carry traders. Moreover, Oanda offers second-by-second interest which helps traders to take advantage of interest rate differentials even during same-day trades.
K Duker, managing director at Oanda Asia Pacific, said: “Oanda is quickly becoming a strong alternative for all forex traders in Singapore, and for institutional traders elsewhere in the Asia Pacific region. These new pairs reinforce Oanda’s commitment to the region.”
Oanda traders around the world have access to all of the major crosses and to major Asian currencies such as the Hong Kong Dollar, Thai Baht, and Indian Rupee.