LONDON, October 16, 2012 /PRNewswire/ --
Innovative solution from leading forex broker allows traders to react quickly to news that influences currency market movements
A "lite" version of OANDA's award-winning forex trading platform, fxTradeNOW puts trading capability on the same page as the news. Once installed, the browser extension gives users direct access to their OANDA trading accounts so they can enter trades without the need to navigate away from the page to launch the full fxTrade platform.
OANDA fxTradeNOW functionality includes real-time quotes, charting in four different timeframes, and the ability to enter take profit, stop loss, or trailing stop orders. The extension's smart scanning technology automatically searches website text for mentions of currencies and pre-loads current price information. If more than one currency is referenced in a news story or blog post, a dropdown menu allows users to select which pair to trade.
According to Courtney Gibson, Vice President of Trading at OANDA, fxTradeNOW is an ideal tool for forex traders considering the ever-changing nature of the marketplace.
"In today's fast-moving market, trading opportunities can come and go in a matter of seconds," Gibson said. "Our Chrome browser extension puts the trade on the same page as the news, allowing traders to act on their ideas faster and stay ahead of the competition. This is another example of OANDA's dedication to innovation and providing the best trading experience in foreign exchange."
The fxTradeNOW application is now available as a free download in the Chrome Web Store. OANDA plans future releases that will include the ability to modify and close trades, set trade defaults, and support for other browsers.
OANDA Corporation has transformed the business of foreign exchange through an innovative approach to forex trading. The company's leading online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; instant settlement on trades; trades of any size between one unit and 10 million units; and interest calculated by the second. OANDA was the first online provider of comprehensive currency exchange information, and today the company's OANDA Rate® data are the benchmark rates for corporations, auditing firms, and central banks.
OANDA Corporation has seven offices worldwide, in Chicago, London, New York, Singapore, Tokyo, Toronto, and Zurich. OANDA is fully regulated by the U.S. Commodity Futures Trading Commission (CFTC), the U.S. National Futures Association (NFA), the Monetary Authority of Singapore (MAS), the Investment Industry Regulatory Organization of Canada (IIROC), the UK Financial Services Authority (FSA), and the Japanese Financial Services Agency (FSA).