OANDA Global Corporation has announced the launch of OANDA Labs Trader, a trading program centred around profit sharing.
OANDA Labs Trader is available to residents of countries serviced by OANDA’s Global Markets division, a firm authorised and regulated by the Financial Services Commission of the British Virgin Islands. The program is designed to give talented private investors and self-directed traders the unique opportunity to become signal providers, on a profit-sharing basis, to OANDA’s proprietary trading business.
In order to unlock the profit share as an OANDA Labs Trader, traders must first pass an assessment through a trading Challenge, a demo environment that gives them the chance to test out their strategies and skills with virtual funds.
Commenting on this launch, Kurt vom Scheidt, Chief Operating Officer of OANDA, said:
“Our vision is centred on enabling smarter trading for clients. Through this program, the most capable traders are empowered with streamlined access to global financial markets across a range of asset classes. In addition to the share they can earn on their profitable trading of virtual funds, traders will receive the necessary tools, such as educational materials and exclusive data-driven features and widgets, to set them up for successful trading. We look forward to growing our proprietary trading activity by incorporating valuable signals from Labs Traders as inputs into our trading models.”
The OANDA Labs Trader program allows traders who pass an assessment to gain access to an OANDA Labs Trader account and share in the P&L they produce. OANDA’s proprietary trading models use the trading signals produced by OANDA Labs Traders in combination with other input variables to guide OANDA’s market positioning decisions.
OANDA’s proprietary capital is at risk, so OANDA asks potential OANDA Labs Traders to complete an assessment to qualify for the program and demonstrate an ability to generate profits and manage risk.
Although the capital provided in the OANDA Labs Trader account is virtual, traders are entitled to a share of profits generated in their account. OANDA Labs Traders are given access to OANDA’s technology and market relationships to help them use their trading skills to create profitable signals.
