NEW YORK--(BUSINESS WIRE)--Zamansky LLC announces that on October 31, 2017, a class action lawsuit was filed on behalf of all OANDA Corp. (“OANDA”) foreign exchange (“Forex”) trading customers. The lawsuit alleges excessive and undisclosed spread, fee and interest overcharges and related trading losses on online foreign currency exchange transactions. The lawsuit is pending in New York Supreme Court, New York County, Index No. 656647/2017.
OANDA is one of the largest online Forex trading platforms in the United States. It offers anyone the ability to trade Forex contracts which usually trade among banks and large institutions in the major interbank systems.
For years OANDA has advertised that it allegedly offers “low spreads,” “competitive spreads” and “transparent” pricing with no hidden fees. As a result of its advertising, OANDA has become one the largest online Forex trading platforms and processes an average of $10 billion of Forex trades daily. The lawsuit alleges that OANDA violated its agreements with its customers by charging excessive spreads and hidden interest.
What OANDA Customers Can Do
If you are or were an OANDA Forex trading customer and believe that you may have been charged a spread that was too high or charged any “interest” fees, please contact our firm for an update and to determine eligibility for the lawsuit. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at jake@zamansky.com.
About Zamansky LLC
Zamansky LLC is a leading securities law firm nationally recognized for its ability to aggressively prosecute cases and recover investment losses. To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.