After years in the retail trading industry, OANDA intends to close all Malta operations on March 17th, 2023. Oanda plans to operate its European business solely under one regulated entity in Poland. On Monday, they declared that they would shift everything over to their Polish subsidiary OANDA TMS Brokers when the departure from Malta is complete.
OANDA Europe Markets Limited (OEML), a Maltese subsidiary, will no longer offer services under the OANDA European Market’s Retail and Professional Client Terms of Business (“ToB”). The news comes after an announcement made by the broker.
To optimize its operations in Europe, OANDA recently announced its move to consolidate under the Polish Financial Supervision Authority-registered firm, OANDA TMS. The reorganization will benefit active traders seeking access to a wider range of asset classes. The advanced MT5 platform is integrated with the TMS product offering. In striving towards facilitating smarter trading opportunities for all clients, this step is set to revolutionize European markets.
OEML recently revealed a rebrand and has ensured to minimize disruption by keeping their clients informed of the transition. They have also offered solutions for customers with existing trading accounts, ensuring that they can continue to do business as usual during this exciting time.
Looking ahead, OANDA will establish its brokerage brand based on TMS’ comprehensive multi-asset services. OANDA will also utilize innovative technology infrastructure to expedite business expansion while providing improved customer service in Europe.
OANDA Expands Offering, Strengthens Workforce
Capitalizing on the success of its customer offering, OANDA has recently taken steps to revolutionize its platform by introducing cryptocurrency trading options for customers in America. The initiative was a joint venture with Paxos – an emerging blockchain infrastructure company.
OANDA recently made changes to its leadership team in various regions. They appointed Galin Georgiev as Head of Product Operations in October. Jessica Beckstead assumed the role of Managing Director of North America and Chief Executive Officer US in September. Moreover, OANDA promoted Philip Waters as their Head of Asia Pacific and Emerging Markets in July.
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