FTMO Expands Prop Trading Operations Following OANDA Acquisition
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Barely a month after acquiring OANDA, Czech-based prop trading giant FTMO is expanding its prop trading business. The company has introduced a new prop trading community brand and a loyalty program, signaling the independence of the prop trading unit within OANDA’s offerings.
Desmond Leong, Former Forex and CFD Specialist at Forex Australia, said in a LinkedIn post that he congratulated OANDA on the official launch of the OANDA Prop Trader Community and Loyalty Program.
FTMO Expands Prop Trading Business With OANDA Acquisition
Leong stated that the company had improved the standards of running a loyalty program. According to him, OANDA had integrated CRM automation to reward users for purchasing, referring, and advocating.
He added, “Tie that in with a full-fledged store so their users can redeem discount coupons using their hard-earned coins, and man, it’s an absolute beauty.”
The acquisition marks a new phase in the prop trading sector, as firms strive to comply with fast-evolving regulations. Many companies are now turning to established multi-asset trading brands to ensure compliance.
Leong stated that it was surprising to see prop firms still trying to create communities and loyalty programs on Discord. He questioned how companies could reward their members without knowing their identities on the platform.
He said OANDA Prop Trader had moved quickly to launch one of the most impressive prop firm communities, ensuring that everyone’s interests were aligned. He noted that this was particularly impressive given the company’s size.
CVC Asia Fund IV agreed to sell OANDA Global Corporation to FTMO Group, though the deal is still subject to regulatory approvals. The financial terms were not disclosed.
OANDA Acquisition Boosts FTMO’s Expansion In The Trading Industry
OANDA began in 1996 and gives a digital trading place for people and businesses. It lets users trade different assets, check currency data, and see market details. The company works in big money cities like New York, Tokyo, and London.
Although the financial terms of the OANDA acquisition were not disclosed, Finance Magnates earlier reported that CVC acquired OANDA in 2018 at a valuation of approximately $162.5 million.
Meanwhile, @FundedNext made headlines at the iFX EXPO in Dubai earlier this January, announcing its plans to enter the broker industry.
FTMO bought OANDA to grow in prop trading. The company set up a new trading group and a loyalty program to bring traders together. This also shows that OANDA’s prop trading unit is working on its own as firms adjust to new rules. The deal still needs approval, but FTMO is moving forward as more companies join with well-known trading brands.
