Oanda recently announced a massive strategic change in its multi-asset retail trading activities in Europe. The renowned forex broker is set to shut down its operations in Malta on March 17.
The decision has been taken under its planned closure of operations. On March 17, the broker will restrict its services under the Retail and Professional Terms of Business. Shutting down Malta-based operations will allow Oanda to run its operations under one entity from Poland.
According to the announcement, the broker is transferring the business to OANDA TMB Brokers, its Polish subsidiary. Given Oanda’s market presence, the news intrigued the majority of the traders in Europe. Many of them looked for a full review of Oanda to learn how the broker operated.
While these reviews helped traders learn about its services, they also noted that Oanda is planning to consolidate its operations. The broker already has a regulated entity under the supervision of the Polish Financial Supervision Authority.
So, this reorganization highlights Oanda’s focus on facilitating smarter trading. The broker will now help European traders to access a new set of TMS product offerings. This suite includes multiple asset classes alongside a platform incorporated with MT5.
Oanda’s presence is not restricted to Europe, as it is considered one of the best forex brokers in Canada. The users in the region were delighted with Oanda’s decision to wrap up its operations seamlessly. They were also satisfied with the way the broker instructed users to handle their OEML accounts.
With features such as crypto trading being introduced to the platform, users have high hopes for Oanda. The broker has also refined its leadership positions with a new Head of Product Operations and CEO. Merged with its decision to operate from a single entity, users can expect a massive transformation from the renowned broker. However, this will help the OANDA brand to utilize the brilliant tech stack and the multi-asset offering for supporting the client base all across Europe.