OANDA reaches settlement with NFA over compliance issues
OANDA Corporation, the U.S. division of global forex broker OANDA Group, has settled a dispute with the U.S. National Futures Association (NFA) following a series of alleged regulatory violations. The NFA issued an official decision accepting an Offer of Settlement submitted by OANDA to resolve a complaint originally filed by the regulator.
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According to the company’s statement, the NFA’s complaint spans multiple years and includes several violations. One of the key issues was that from January to August 2023, OANDA failed to collect the required security deposits from its parent company—OANDA Global Corporation (OGC)—during forex transactions. Moreover, these transactions were allegedly misrepresented in net capital calculations due to incorrect treatment of foreign currency exposure.
Additional violations and supervisory concerns
It was also reported that from August 2021 to February 2023, the company did not properly collect security deposits from U.S. retail clients for certain forex trades. In 2022, a pricing display issue occurred on a third-party platform, which affected the customer experience.
Additionally, from early 2023 through mid-2024, OANDA failed to fully disclose its relationship with a cryptocurrency broker in marketing materials related to spot crypto trading services for U.S. customers. This lack of transparency was cited as a compliance failure. The final allegation involved insufficient oversight of the company’s operations and its employees.
Company response and remedial actions
Although OANDA neither admitted nor denied the allegations, the company agreed with the NFA’s findings and accepted responsibility as part of the settlement.
In an official statement, OANDA emphasized its commitment to regulatory compliance, noting that it has implemented extensive remedial measures to address the issues raised, including internal operational reforms and close cooperation with NFA staff.
“OANDA takes its regulatory obligations seriously,” the statement read. The company confirmed its continued commitment to providing a transparent and compliant trading environment, while maintaining high standards of customer service and regulatory integrity across all its offerings.
As a reminder, OANDA previously announced that its Czech brand, TMS Brokers, would be officially retired and replaced with the OANDA name. This move aims to align local operations with the global structure of OANDA Group, which has owned TMS Brokers SA since 2021.
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