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ODL Broker?

  • #1
  • First Post: Jul 28, 2008 4:46am Jul 28, 2008 4:46am
Doeas anybody know anything about ODL http://www.odlmarkets.com/?

Regards
Ocean
  • #2
  • Jul 28, 2008 5:02am Jul 28, 2008 5:02am
I trade with them, traded for over year, no major problem so far in the UK office.

Once, this year, the server has been down in London for a few hours. Scary and annoying. It was then fixed and they apologized for that via email.
Spread are decent, you have slippage but you can control it via MT4 and you usual get a pop-up if you want to accept or refuse the new quote.
Customer service is ok, still in the city of London (for the UK office), so don't expect a over kind " Goodmorning sir, how are you today etc etc" but more of a " Odl, what do you need mate?"

Still a market makers, but I can't complain.
  • #3
  • Jul 28, 2008 5:44am Jul 28, 2008 5:44am
Thanks for answer,

Do they have fixed spreads? Slippage is only during news or always and do you mean market orders or stop orders?

Ocean
  • #4
  • Jul 28, 2008 5:50am Jul 28, 2008 5:50am
Quoting Ocean
Thanks for answer,

Do they have fixed spreads? Slippage is only during news or always and do you mean market orders or stop orders?

Ocean
My pleasure, then for a turtle...

They have fix spread, e/u 2, g/u 3, g/y 6...

I meant market order slippage, limit and stop order are respected as stoplosses, as far as I can tell in the last year.

News trading... I wouldn't bother with a market maker, they don't like it and I don't like their fills on spikes.
  • #5
  • Edited 6:02am Jul 28, 2008 5:50am | Edited 6:02am
Oops, posted in a wrong thread.
  • #6
  • Jul 28, 2008 6:09am Jul 28, 2008 6:09am
I've been with ODL for about a year, and I've had no issues at all with there service. No slippage and spread widening, and lot's of pairs and other markets to choose from. I don't trade the news, so don't know how their server behaves when placing orders, but I've had trades open during news, and nothing "silly" has happened to them.

Their response to e-mails is pretty good, and I've had withdrawls made on the same day as well, never spoken to them via the phone.

Overall, I'm happy and will be staying.
  • #7
  • Jul 28, 2008 7:56am Jul 28, 2008 7:56am
I appreciate all answers.

Thank you.

Ocean
  • #8
  • Jul 30, 2008 5:13am Jul 30, 2008 5:13am
Well this doesn't really look good on their resume!

" C.R.2-36(b)(1) - CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS"

http://www.nfa.futures.org/BasicNet/...06&contrib=NFA
  • #9
  • Jul 30, 2008 6:11am Jul 30, 2008 6:11am
Quoting lostinspace
Well this doesn't really look good on their resume!

" C.R.2-36(b)(1) - CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS"

http://www.nfa.futures.org/BasicNet/...06&contrib=NFA

True, does not look good. I have read about it on the net as well.
They were fined for that and it was last year, hopefully they learned the lesson. They also have to keep tapes of conversations and have it available to NFA upon request.
I don't think they are angels, but at least they are watched closely.
  • #10
  • Oct 6, 2008 11:11am Oct 6, 2008 11:11am
ODL USA

Demo's are now 90 days.

Spreads are decent.
Swaps are paid or deducted
No Commisions
sl/tp is 10 pips

Platform freezes alot but does not loose its connection just no updates and for long periods of time during news, 15 minutes or so. so you are unaware of your position duing this time.

Trading hours start 8pm est Sunday and end Friday like 3pm est. which is rediculous.

It could or would be a good broker if they can fix there servers and offer standard trading hours.
  • #11
  • Oct 6, 2008 7:56pm Oct 6, 2008 7:56pm
Quoting 8fingers
This is just another example of dishonest humans practicing evil and all of us sheep doing nothing about it. I now live less than 10 miles from my main Broker(MBT) in CA and if I thought anyone was trying to rob my family of its future, I would be down at their office to exact the pound of flesh and blood that fate demands. No longer should we "turn the other cheek"! White collar crime deserves a blue collar beating!
  • #12
  • Oct 31, 2008 1:56am Oct 31, 2008 1:56am
does anyone know how to make redemption with odl uk? i know that for usa they have some form to download. but for they uk/intl site there is no a single word about redemption or withdraw.

made a quite funny feeling, like they just hope us to fund and never do a redemption.

thanks for sharing the experiences
  • #13
  • Oct 31, 2008 4:46am Oct 31, 2008 4:46am
just mail them, it should be the same form
they communicate to each other irregard of countries.
I once had my query forwarded from US to UK back US back to me
  • #14
  • Nov 10, 2008 6:15pm Nov 10, 2008 6:15pm
Hi Guys,

I am looking into opening an account with ODL for their MT4 platform, spreads and oil! I do not trade news.

Those of you who recommended it early in the thread, Do you still recommend it?

If not, any better alternative?

Thanks!
  • #15
  • Nov 11, 2008 4:08am Nov 11, 2008 4:08am
I'm just about to open with them... only broker offering CFD trading on MT4 out there.. excellent customer service from what I can tell. Always received instant response after sending mails or calling them.. no problems there. Trading hours are going to be extended by the end of the year.. forex quotes are already supplied as with any other broker.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #16
  • Nov 11, 2008 10:23am Nov 11, 2008 10:23am
I'm still using them, no major issue, withdrawal is done by email.
  • #17
  • Dec 20, 2008 10:42pm Dec 20, 2008 10:42pm
Hi,

I'm looking for oil broker which has lower rollover fee.
I see, ODL provides automatic rollover and this is what i'm looking for.

As i'm looking for buy and hold for oil futures, this rollover fee is quite
important.

Can anyone suggest good oil broker?
What happens to our investment when the company goes bust?
  • #18
  • Dec 21, 2008 2:05pm Dec 21, 2008 2:05pm
Quoting incrediblefx
Hi,

I'm looking for oil broker which has lower rollover fee.
I see, ODL provides automatic rollover and this is what i'm looking for.

As i'm looking for buy and hold for oil futures, this rollover fee is quite
important.

Can anyone suggest good oil broker?
What happens to our investment when the company goes bust?

Rollover on Oil transaction? I never noticed any, but I can not be sure.

What happen if a broker goes bust? money become smoke I guess.
  • #19
  • Dec 22, 2008 2:55am Dec 22, 2008 2:55am
all futures contract need to be rolled over for next contract month and the price is different between current and future contract month.

I thought there is custodian which will keep the shares or money in case broker goes bust.
  • #20
  • Dec 22, 2008 5:06am Dec 22, 2008 5:06am
Hi,

Also thinking about opening an account with them in 2009. I only have one question for the ones who already use ODL as their broker. How does ODL act when there is a spike on a pair? In the months i have using their demo account i noticed some spikes (see attachments). Do they automaticly adjust this or is this bad luck for the customer?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ODLS_Demo_USDCAD_GMT.JPG Size: 77 KB
Click to Enlarge Name: USDCAD_GMT1.JPG Size: 47 KB
persistence and determination alone are omnipotent
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