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Oanda Presents fxTrade Bridge for Metatrader 4

Jan 28 2013
By
Forexbrokerz.com

For a while now, the global forex broker Oanda has been offering its clients a choice between its own trading platform fxTrade, and the industry's most popular trading application Metatrader 4 (MT4). 

 
One reason for so many traders around the world to prefer MT4 is the fact that the platform allows for automated trading through Expert Advisors (EAs), and has excellent strategy backtesting capabilities. What's more, one can either develop and program their own EAs or download some from the platform's library – there are thousands of them there. 
 
In the case of Oanda, MT4 offers the software client, and the broker is in charge of the server. Furthermore, Oanda's engineers have designed a bridge to connect the MT4 with the broker's execution engine, which means that traders can take advantage of lower spreads – unlike brokers that use third-party bridges and are forced to compensate the higher costs by widening their spreads. 
 
The fxTrade MT4 bridge allows traders access to some of the unique features that are already available on the fxTrade platform. 
 
The fact that Oanda is controlling the servers also means that, to a great extent, it is also in charge of the platform's performance and is able to maintain the quality of execution. 
 
Oanda assures us that its team won't stop there and that the broker's MT4 will continue to improve and upgrade. As we already know, there really is a lot that can be done with MT4 in terms of customization – take a look at Admiral Market's "supreme" version of the platform, for example, or consider Go Markets' multi-screen options for MT4. 
 
Before introducing the fxTrade MT4 bridge, Oanda rolled out iOS and Android MT4 apps for mobile trading, and while the broker doesn't say what's next, it leads us to believe that a new upgrade will be announced soon. Addressing one suggestion that the next new feature could be an in-house service for trading signals, an Oanda representative said the following: “There are a number of copy-trade services for MT4 on the market, and we've been talking to a few partners that provide this service. There are also social networks such as MT4i that provide similar services”. 
 
 

About OANDA

 
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).
 
TAGS: Oanda  fxTrade  forex trading  forex broker  trading platform  MT4  EA  expert advisor  automated trading  MT4 bridge 

More news about OANDA

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