Since it launched its FXTrade platform in 2001, Oanda has carved out a reputation as an iconoclast and innovator in the foreign exchange industry. By making use of smart risk management tools, it has helped pioneer the delivery of tight spreads initially to retail customers but increasingly to institutions.
While execution in FX is undoubtedly excellent, when it comes to physical transactions the cost of dealing can be exorbitant. You only have to look at the rates offered by most bureaux de change – they might advertise that they are providing a free service, but with spreads often wide enough to drive a metaphorical bus through, there is undoubtedly a large intrinsic cost – it is clear that best execution is not necessarily guaranteed in FX.
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