Now, OANDA’s operations are managed from Warsaw, Poland, and are overseen by the Polish Financial Supervisory Authority, or KNF.
In 2021, TMS Brokers in Poland was purchased by OANDA.
Operationally, it has since ceased in Malta.
According to an announcement, OANDA Global Corporation will begin operating in Europe from Poland under the supervision of the KNF, the Polish Financial Supervisory Authority (PFSA).
Poland-based OANDA Starts Services
With OANDA TMS Brokers SA, which has a registered office in Warsaw, the broker is now providing services in the European Union. OANDA made the strategic decision to shut its activities in Malta, which led to the development of the new European base.
“For OANDA in the EU, this is an exciting new chapter and a big growth opportunity. We chose to locate our operations in Poland because we want to provide the greatest service to the client “Marcin Niewiadomski, head of Europe at OANDA, stated. This was an obvious choice because it will allow us to capitalise on OANDA TMS’s capabilities as we develop the OANDA brand.
By successfully acquiring a 100% stake in Polish broker Dom Maklerski TMS Brokers S.A. (TMS Brokers), which has since changed its name to OANDA TMS, OANDA has secured its ambitions to operate out of Poland. TMS, which ForeVest Capital formerly controlled, was the first and second-largest local Polish brokerage when it was founded in 1997.
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Shifting European Base
OANDA previously disclosed its plans to stop providing services through the Maltese subsidiary and relocate to Poland in order to “consolidate its operations” in Europe under OANDA TMS.
Niewiadomski continued, “Today, as a result of our activities being refocused, investors and traders in the EU can easily access a comprehensive multi-asset proposition with the confidence that they are working with a reputable, award-winning, and licenced broker.
OANDA began trading forex in 1996 and today operates internationally in all significant markets. In addition to its base in Poland, the broker also holds licences in the United States, Canada, Japan, Australia, Singapore, and the United Kingdom. It is one of only a few brokers who can lawfully trade currencies in the US.
OANDA, meanwhile, is concentrating on the quickly expanding bitcoin business. It collaborated with blockchain business Paxos to introduce a cryptocurrency trading platform in the US last year.
The broker also improved its leadership last year by making a few significant appointments. As the Head of Product Operations, it hired former Prime XM executive Galin Georgiev. Also, it appointed Jessica Beckstead, who worked at FXCM for 18 years, as its Chief Executive Officer for the US and Managing Director for North America.