OANDA Consolidates European Operations, Acquires TMS Brokers
OANDA Global Corporation has recently announced the launch of its European operations from Poland. This move is being supervised by the Polish Financial Supervision Authority (PFSA), also known as the KNF. The broker will now offer services in the European Union through OANDA TMS Brokers SA, which has a registered office in Warsaw. The establishment of the new European base comes as OANDA makes a strategic decision to close its operations in Malta.
According to OANDA’s Head of Europe, Marcin Niewiadomski, the move to Poland is an exciting new chapter and a significant growth opportunity for OANDA in the EU. The decision was made in order to serve clients in the best way possible. Niewiadomski adds that basing their operations in Poland was a natural choice, as it will enable them to build the OANDA brand on the strengths of OANDA TMS.
To secure its plans to operate from Poland, OANDA completed the acquisition of a 100 percent share of Polish broker Dom Maklerski TMS Brokers S.A. (TMS Brokers). Established in 1997, TMS was the oldest and second-largest local Polish brokerage that ForeVest Capital had earlier owned. Following the acquisition, the broker has now been rebranded as OANDA TMS.
Overall, this move to Poland will provide OANDA with a solid footing in the European market. The supervision of the Polish Financial Supervision Authority (PFSA) will also ensure that the broker complies with EU regulations, allowing them to provide their services in a trustworthy and secure manner. The acquisition of TMS Brokers further cements OANDA’s position as a major player in the brokerage industry.
Subsidiary Short-changed
OANDA has announced its plan to stop providing services through its Maltese subsidiary and to consolidate its European operations in Poland under OANDA TMS.
“Now, thanks to our refocused operations, investors and traders in the EU can easily access an extensive multi-asset proposition with the knowledge that they are partnering with a trusted, award-winning, and regulated broker,” Niewiadomski noted.
OANDA has been in the forex trading industry since 1996 and operates globally in major markets. The broker is licensed in several countries, including the US, Canada, Japan, Australia, Singapore, and the UK, and is one of the few brokers offering currency trading legally in the US.
In addition to forex trading, OANDA has shifted its focus to the rapidly growing cryptocurrency market. In 2022, it collaborated with blockchain firm Paxos to launch a crypto trading service in the US. OANDA has also made significant leadership appointments, including Galin Georgiev as the Head of Product Operations and Jessica Beckstead as the Managing Director for North America and CEO for the US.
OANDA’s move to Poland aims to provide the broker with a solid footing in the European market while ensuring compliance with EU regulations through supervision by the Polish Financial Supervision Authority. This move also follows the strategic decision to cease operations in Malta. Overall, this consolidation of operations under OANDA TMS strengthens the broker’s position as a major player in the industry.
