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Oanda to Clients: Stay Out of Currency Markets

From blogs.wsj.com

Oanda, one of the largest online currency trading platforms for retail investors, has some unusual advice for its customers: Stay out of the market. “We are encouraging our clients not to trade right now, but to watch the market carefully,” said Michael Stumm, president and chief executive at Oanda, in an interview. Oanda this week sent an email to its clients, advocating that they move to the sidelines and watch the markets tussle over each new headline out of Europe. Oanda had over 29,000 U.S. clients at the end of the first quarter, the most of any retail broker, according to the most recent data available from ... (full story)

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