OANDA releases special mobile app update for European customers
All European customers of the broker are invited to update the app before December 1, 2017 to avoid having the rates list reset to the default list.
Online trading services provider OANDA Corp has just released an update to the OANDA fxTrade mobile application targeting European clients of the broker in particular. European customers of the broker will see their legacy accounts migrated to a new V20 account on either December 1, 2017, or December 8, 2017.
This is set to enable OANDA to ensure that traders’ account(s) meet the anticipated regulatory requirements at the beginning of 2018 so that its European clients can continue to trade. European customers of the broker are invited to update the app before December 1, 2017 to avoid having their rates list reset to the default list.
Traders in any other location can safely ignore the update.
Here is OANDA’s message accompanying the update to its iOS app:
What’s New in Version 5.4.14
If you are in Europe, please read on. If you’re in any other location, you can safely ignore this update.
If you are a European customer, we will be migrating your legacy trade account(s) to a new V20 account(s) on either 1 December 2017 or 8 December 2017. This will enable OANDA to ensure that your account(s) meet the anticipated regulatory requirements at the beginning of 2018 so you can continue to trade.
Please update the app before 1 December 2017 to avoid having your rates list reset to the default list.
The changes to the mobile application are unveiled after an earlier announcement by OANDA Europe about the migration of the client accounts, as the broker is bracing itself for the new MiFID II regulations, with the changes to affect the services it offers to its clients.
In a note to its clients, OANDA said that all legacy trade accounts registered with OANDA Europe Limited will be migrated to V20 trade accounts by early December this year. The change will affect open positions too. In addition to the account migration, the v1 REST API and the Java SDK will no longer be available as of that time.
OANDA launched the v20 trading engine about a year ago, as it marked its 20th anniversary. The engine is built on a multi-cluster machine architecture which redefines the way data flows through the system and allows OANDA to increase speeds significantly. In addition to institutional-grade speeds, v20 offers professional features such as: access to more order types and options than ever before; support for simultaneous long and short positions; and the ability to execute larger trade sizes through simulated depth of market features.
The company has introduced V20-related enhancements to its mobile apps too. For instance, OANDA’s fxTrade mobile application for Android-based devices has made the use of all Trade Default types available for owners on v20 accounts too. In June this year, FinanceFeeds reported of OANDA launching a new feature called Price Signal on its mobile apps for the v20 clients. The feature was first launched on iOS devices and was shortly thereafter introduced on Android devices too.
