Online FX broker Oanda says it has acquired Boston-based mirror trading provider Currensee Global. Together, the integration of the two technology platforms from Oanda and Currensee will provide traders with a “unique offering”, the firm claims.
Copy trading, a method by which traders can mirror the trading behaviour of other FX traders from around the world, has seen significant growth in recent years. In addition, copy trading makes it possible for individual traders to share research data and collaborate with other traders.
Technical teams are scheduled to begin the work to make the Currensee platform available to Oanda clients and a notice will be issued once this work is completed.
Terms of the deal were not disclosed.