OANDA has combined its European operations into a single entity registered in Warsaw, Poland, after shutting down its Malta subsidiary.
OANDA Europe Markets Ltd ("OEML") will cease its operation on 17 March 2023, implying the closure of its business activities. Their clients, then, may continue earning profits through OANDA TMS, under the Polish Financial Supervision Authority.
OANDA has been providing access to trading in the European Union region under the regulation of KNF since 1997. Taking the opportunity to grow in the region, particularly, among the Baltic Countries, in 2020, the company established a cooperation with the Polish broker, Dom Maklerski TMS Brokers SA or TMS Brokers, as its strategic step to face Brexit.
This step aimed to secure the legal permission for the existing subsidiary in Malta while providing opportunities for clients in the UK, namely OANDA Europe Limited (OEL) to maintain the business with the FCA-regulated firm.
OANDA is committed to providing the highest quality pricing, execution, and service to the client where every effort is made to ensure that different methods of business will be implemented in the safest way for the sake of the clients.
Further, the broker adds, "All clients have been informed of their options regarding their existing trading accounts with OEML. This change in our operations will shape the firm's strategy by building the OANDA brand on the foundations of TMS' multi-asset offering and cutting-edge tech stack to accelerate business growth and better support clients across Europe."
OANDA provides its services from different regions, namely Toronto, Europe, and the Asia Pacific Region. In addition to providing information regarding currencies, the firm also serves retail and institutional investors.