OANDA Europe Ltd, the FCA-regulated UK subsidiary of online trading and technology provider OANDA Corporation, has posted its audited financial report for 2014, which indicates the strategic goals of the company for this year, and shows that the company managed to cut losses and register a rise in turnover in 2014.
Let’s start with the key performance metrics for the year to December 2014.
- Annual turnover surged 66.3% year on year to £4.99 million ($7.73 million) from £3 million in 2013.
- Total volume amounted to £143 billion, up 9% from a year earlier – meaning that OANDA Europe averaged about $18.5 billion in monthly volume during 2014. That’s up from about $17 billion per month in 2013.
- The number of total active accounts rose 18% year on year to 15,807.
- OANDA Europe held £33.6 million ($52 million) in client funds at year-end 2014.
- The company reported a loss of £779,007 for 2014. The number reflects substantial marketing investment expenses. However, the loss is smaller than the £2.08 million loss registered in 2013.
Strategy for 2015
OANDA Europe’s CEO Daniel Skowronski had the following to say:
During 2015 we will continue to invest in the Company’s systems and infrastructure, in particular enhancements to OANDA’s next generation platform due to be launched in Q3 of 2015, providing our customers with a market leading intuitive platform with advanced charting capabilities to meet the demands of today’s trader.
In addition, the company aims to expand its retail business presence in key markets in Europe and the Middle East.
A particular goal is to increase UK market share in FX and CFD’s business by 2-5%.
To view the full OANDA 2014 financial report click here.