Breaking: OANDA Europe Books $2.2 Million Loss Due to SNB Crisis

[kreslik.news]

The UK subsidiary of one of the first retail foreign exchange brokers online, OANDA, has reported its bottom line for 2015 in a filing with the Companies House. The company has booked a loss on its operation in Europe totaling about $2.23 million (£1.54 million) due to the turmoil which the Swiss National Bank (SNB) caused on the foreign exchange market.

OANDA Europe’s bottom line for last year compares with a net loss of £779,000 ($1.12 million at current exchange rates) for the full year 2014. Total revenues for 2015 increased by 84 per cent when compared to 2014, ... (read more)