-19%

est. 2Y upside i

FinTechSeries B

Rank

#3346

Sector

Fintech

Est. Liquidity

~3Y

Data Quality

Data: Medium

OANDA, recently acquired by FTMO Group for an estimated $180-220M, presents a moderate upside opportunity for a job seeker.

Last updated: March 10, 2026

Bull (20%)+100%

OANDA successfully integrates with FTMO, leveraging its global licenses and brand to expand its brokerage and data services, potentially reaching $250M+ revenue by 2028 with strong margins. This growth, coupled with a multiple expansion to 1.6x revenue, justifies a value of $400M within the FTMO Group, representing a 2x return on the acquisition price.

Base (40%)+25%

OANDA maintains its established position in the competitive online trading market, growing revenue modestly to around $200M by 2028. Its value within the FTMO Group remains around the acquisition multiple (1.25x revenue), increasing its value to $250M, providing a moderate return on the acquisition price.

Bear (40%)-30%

Intense competition and ongoing regulatory challenges, coupled with limited synergy from the FTMO acquisition, lead to stagnant revenue around $150M and reduced profitability. OANDA's value within the FTMO Group declines to $140M (0.93x revenue), resulting in a significant loss for common stock given the severe preference stack.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

With $117M in total funding and an estimated current valuation of $200M (based on acquisition price), preferred shareholders likely hold significant liquidation preferences, potentially leaving only $83M for common shareholders in an exit at current valuation.

Dilution Risk

moderate

While OANDA itself is unlikely to raise further rounds as a subsidiary, future funding rounds by the parent company, FTMO Group, could dilute the value of any FTMO-level equity granted.

Secondary Liquidity

none

As a private subsidiary of FTMO Group, there is no active secondary market for OANDA equity.

Questions to Ask at the Interview

Strategic questions based on OANDA's data — designed to show you've done your homework.

  • 1

    “Given OANDA's recent acquisition by FTMO Group and the transition of OANDA Prop Trader, how will OANDA maintain its distinct brand identity and competitive edge in core brokerage services against incumbents like IG Group and Interactive Brokers?”

  • 2

    “With OANDA's estimated 2024 revenue of $175M, what are the key strategic initiatives to accelerate growth beyond market averages, particularly in the financial analytics segment, and how does the FTMO acquisition support these goals?”

  • 3

    “Considering OANDA is now a subsidiary of FTMO Group, how is employee equity structured, and what is the anticipated timeline or mechanism for employees to realize value from their equity grants?”

Community

Valuation Sentiment

Our model estimates -19% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.