OANDA Reveals Change in Its Retail Trading Operations in Europe, Plans to Exit Malta in March

OANDA, a global leader in online multi-asset trading services, currency data and analytics, is planning to shut down its operations in Malta on March 17, 2023, and consolidate its European business under a regulated entity registered in Warsaw, Poland.

Earlier in September 2020, OANDA announced the acquisition of Dom Maklerski TMS Brokers S.A., an established Polish multi-asset broker regulated by the Polish Financial Supervisory Authority (Komisja Nadzoru Finansowego, KNF), which has now been renamed OANDA TMS Brokers S.A. ("OANDA TMS"), and entered the European Union market. In that December, OANDA set up a subsidiary in Malta in preparation for Brexit. The new subsidiary operates under the brand of "OANDA Europe Market Limited" ("OEML") and has secured regulatory license from the Malta Financial Services Authority (MFSA).

With this strategic adjustment, OEML "will cease to provide services currently provided on the basis of OANDA Europe Markets Limited Retail and Professional Clients Terms of Business ('ToB')". Meanwhile, OANDA will consolidate and transfer its European business to OANDA TMS.

"Under this reorganization, which reflects OANDA's emphasis on enabling smarter trading for clients, active traders in Europe will be able to gain access to the broader TMS product offering, which includes a wider range of asset classes and a cutting-edge platform integrated with MT5," the broker stated. 

"At OANDA, we are committed to providing the highest quality pricing, execution, and service to our clients, and we will make every effort to ensure that any changes in our operations are implemented in the least disruptive way possible for our clients. 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"

Last week, OANDA tapped Standard Chartered​ Bank​ as its cash management bank for payments and collections in the United States and United Kingdom and FX prime broker for its retail FX business internationally. Through the collaboration, the broker will improve its ability to provide international clients with localized and regional solutions.