Oanda Japan Increases Available Sub-Accounts
Oanda Japan, a Retail Forex Broker, announced today that it would be enhancing their services to clients. Users who are operating trade accounts on the NY Server will now have the ability to open a more significant number of sub-accounts. This information comes from the brokerage itself.
Before today, clients of Oanda Japan could only open up five sub-accounts. As of May 14th, 2019 traders will now be able to open up a maximum of ten accounts. However, customers who are on the MT4 Tokyo Sever won’t be receiving this update. There could be the chance that in the coming months this change could release on to all servers owned by Oanda Japan. The NY Sever seems to be working as a test site for the ten sub-account service.
The Benefits
There are multiple reasons behind the move to 10 sub-accounts. Players will now be able to diversify their risk factors and create strategies for trading. It will also allow traders to diversify and hedge their rate of currency risk. The final benefit and reason for the inclusion of ten sub-accounts are that clients will now be able to trade in ten different currencies.
Additionally, traders will be able to open ten sub-accounts, allowing them to save money on their fees for depositing/withdrawing. Clients will also be able to save money on third-party currency exchanges.
Oanda Japan will be testing this service on the NY Server. Depending on how many clients use this service, the new feature will be brought to all other servers operated by Oanda. As of right now, the Forex broker hasn’t commented on this feature being released across all their exchanges.