Prop firm FTMO has completed its takeover of retail brokerage group OANDA.
The prop firm said on Tuesday morning that it had received approval from five different regulators since announcing the deal in February of this year.
OANDA has eight licenses globally in Australia, Japan, Singapore, the US, the UK, Poland, Canada and the British Virgin Islands.
“Today, we mark a pivotal moment as OANDA officially joins the FTMO ecosystem,” said OANDA CEO Gavin Bambury.
“OANDA’s strength has always been rooted in our commitment to operating as a client-focused, trusted, regulated global group. This acquisition enables us to significantly accelerate our growth, and to deliver even more innovative, integrated and smarter trading experiences for our clients.”
FTMO said in a statement that OANDA will continue to operate as a standalone business. However, the long term vision of the company is to create a global ‘powerhouse’ that offers both regular CFD trading and prop trading services.
“We will continue to focus on our core business – a modern prop trading platform where we rank among the leaders,” said FTMO Co-Founder Otakar Suffner.
“The long-term plan is to build a trading powerhouse, which will service traders on all levels – modern prop trading, brokerage with the relevant tools. OANDA, a broker with licenses in eight key markets across the world, is the perfect fit to this vision.”
