Foreign Exchange iPad App Allows Does Real-time Currency Trades

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OANDA Corporation has released the first foreign exchange (forex) trading app for the iPad, available for free in the iTunes store.  It's called fxTrade.

Taking advantage of iPad’s large display, fxTrade shows several dynamic views of market data on a single screen so traders can make fast trading decisions anywhere, anytime.

In response to the explosion in mobile devices, which Morgan Stanley estimates will out-ship the global PC market (notebook, netbook, and desktop combined) by 2012, OANDA launched its mobile application for the iPhone last month and quickly followed up with its native iPad version.

"The iPad represents a leap forward in usability and human-computer interactions, and we believe it will turn out to be a game changer," said Michael Stumm, CEO of OANDA Corporation. "We want forex trading to be open and accessible, and our mobile platforms are an important part of our vision of a market that is available to anyone, anywhere, anytime."

Fluctuating exchange rates can mean the difference between profit and loss for global businesses. The Bank for International Settlements (BIS), the organization for the world’s central banks, estimates that each day more than $3 trillion dollars is exchanged in the foreign exchange market.

fxTrade was launched in 2001 and was the first fully automated trading platform for currency exchange. According to OANDA, its peak platform performance has been measured at 1.5 million trades a day, far exceeding the volume typically handled through any of the leading global banks or electronic communication networks (ECNs) that trade forex.

fxTrade features:

• 24/7 currency trading at interbank rates
• A live-streaming rate feed, with rich central displays of trade, market, and rate data
• Immediate trade execution on all major currency pairs, popular cross pairs, and 4 precious metal pairs
• Scrollable, expandable charts in multiple timeframes, with up to 4 charted pairs shown simultaneously
• Ability to set market orders: take profit, stop loss, trailing stops
• Live updates of customer account details: unrealized/realized P&L; margin used/available; net asset value

fxTrade offers a free live demo called FXGame to all potential traders. The game lets users trade under real market conditions using actual market prices and spreads without the risk of losing real money. OANDA does not have a minimum deposit requirement, and allows trades in any size without lot size requirements.

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