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Anyone trading live with ODL Securities and EFX Group?

  • #21
  • Apr 20, 2007 7:13am Apr 20, 2007 7:13am
i was looking at them they have damn good spreads gbp/jpy and gbp/chf only 6 pip spreads most broker or at 8-10
If I Go Broke Trying Then I Will die happy.
  • #22
  • Apr 20, 2007 7:23am Apr 20, 2007 7:23am
Quoting superbem
I know them don't like much people only trade the news, if you only trade news better other broker.
They seem the better choice, at least don't have as much complaints as other brokers.
That thing of nfa complaints, don't seem so bad as it appears, and its the only thing I see bad from them.
They don't like people only trade the news? I think it's ridicolous, if a trader pay the spread what they want more? They can tell us what trade to do to lose all and make them happy???

Anyway, what is a good broker for news? I think is a neverending searching like I've seen on this forum too

thank you all guys for these very useful infos
  • #23
  • Apr 20, 2007 9:25am Apr 20, 2007 9:25am
After long research and fougth, I think they have some reason when they complaint because traders only trade news, afterall in the news there are some very aggressive movements, and market makers trade at gross, wich isn't compatible with agressive movements.
To trade news you better go with a ECN, but take carefully with market orders.
  • #24
  • Apr 20, 2007 10:03am Apr 20, 2007 10:03am
Well, I'm trying opening account with them, I have never seen so much bureaucracy requirements.
  • #25
  • Apr 20, 2007 10:30am Apr 20, 2007 10:30am
Quoting superbem
After long research and fougth, I think they have some reason when they complaint because traders only trade news, afterall in the news there are some very aggressive movements, and market makers trade at gross, wich isn't compatible with agressive movements.
To trade news you better go with a ECN, but take carefully with market orders.
unfortunately, from what I know, there isn't an ECN who use metatrader
  • #26
  • Apr 20, 2007 11:19am Apr 20, 2007 11:19am
The advantage of metatrader is the EA. But to trade news you don't need EA.
Or you have some access to a database with the time of the news and it's speculation?
  • #27
  • Apr 23, 2007 9:37am Apr 23, 2007 9:37am
When opening an account with ODL there's this clause

7.NOVATION OF OPPOSING CONTRACTS. Whenever there may exist in any Customer Account two or more open and opposite Contracts providing in whole or in part for the purchase and sale of the same Foreign Currency or Cross Currency Pairs on the same Value Date, such Contracts shall automatically be canceled and replaced by an obligation to settle only the net difference between amounts payable in respect of the relevant currencies under the relevant Contracts, and/or the net difference between the quantities of the relevant currency deliverable thereunder.


Does that mean there's no hedging in this?


I used to think any Metatrader could do hedging.
  • #28
  • Apr 23, 2007 11:18pm Apr 23, 2007 11:18pm
Hmmm....ODL had a 3000 PIPs spike of USD/CHF the other day and that took my trades out completely. Although they put everything back to the original state and returned all my money 2 hours after the spike(without talking to them because I was asleep at that time), it is something that you may need to aware with their MT4 platform.

To answer previous question, they pay LIBOR-175 basis point for unused margin.
  • #29
  • Apr 24, 2007 7:14am Apr 24, 2007 7:14am
Quoting Puppy
Hmmm....ODL had a 3000 PIPs spike of USD/CHF the other day and that took my trades out completely. Although they put everything back to the original state and returned all my money 2 hours after the spike(without talking to them because I was asleep at that time), it is something that you may need to aware with their MT4 platform.

To answer previous question, they pay LIBOR-175 basis point for unused margin.
3000 pips spike?
do you use ODl currened or ODl retail?
  • #30
  • Apr 24, 2007 3:25pm Apr 24, 2007 3:25pm
Quoting Puppy
Hmmm....ODL had a 3000 PIPs spike of USD/CHF the other day and that took my trades out completely. Although they put everything back to the original state and returned all my money 2 hours after the spike(without talking to them because I was asleep at that time), it is something that you may need to aware with their MT4 platform.

To answer previous question, they pay LIBOR-175 basis point for unused margin.
Wow, do you have a chart screenshot of this? Was this on their MT4 platform or their Currenex platform? There's another thread going around about a 250 pip slip on their Currenex feed, this could be just as scary.
Pippin' ain't easy.
  • #31
  • Apr 25, 2007 4:55am Apr 25, 2007 4:55am
For your interest of the spike~~
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf spike.jpg.gif Size: 29 KB
  • #32
  • Apr 25, 2007 5:05am Apr 25, 2007 5:05am
Quoting Puppy
For your interest of the spike~~
I think I'll stay with IBFX ...
  • #33
  • Apr 26, 2007 11:35am Apr 26, 2007 11:35am
Quoting FedePresident
I think I'll stay with IBFX ...
ODL has lower spreads, but that spike is scary. I know they just started offering MT4, so they might have some growing pains to work out.

Puppy,
You said they put everything back to the original state, does that mean they re-opened your closed/stopped out orders or did they just open new ones and credit you back the loss?

Thanks

Juan
Pippin' ain't easy.
  • #34
  • Apr 28, 2007 5:15am Apr 28, 2007 5:15am
Juan,

To be honost I don't know what they have done to my trades....they send me tons of trade confirmation/cancellation notice and credit in/out of my account of some sort and the end results are all trades are display as their original state apart from the credit in/out they have done.

Hope it helps
  • #35
  • May 18, 2007 10:17am May 18, 2007 10:17am
ooooohhhh finally! after months of research and various trials, I've find a good solution for my news trading I hope it would be ever good as now!
  • #36
  • Aug 21, 2007 4:56am Aug 21, 2007 4:56am
Quoting FedePresident
They don't like people only trade the news? I think it's ridicolous, if a trader pay the spread what they want more? They can tell us what trade to do to lose all and make them happy???

Anyway, what is a good broker for news? I think is a neverending searching like I've seen on this forum too

thank you all guys for these very useful infos
Just for your information, about a mail request:

---------------------------------------------------------------
I have been using your demo account (mt4), and it goes overall good
(exception due to large slippages currenex, one huge and famous in all forex forums and as clients we hope you fixed clients accounts that were compromised to those unbeliable spreads, not registered by other brokers)

Im ready to open an account with you, but would like you CLEARLY answer
these questions:

1) Do you allow ANY TRADING STYLE (Scalping, News trading,....)
2) or........ what retrictions do you have for trading?
3) Are you going to display a live help (chat) for clients doubts?
4) some hidden retrictions pertinent to trading?

----------------------------------------------------------------

Dear sir I think your mistaken we do not have slippage unless using
demo for currenx
We do not news traders who steal from the mkt or scalpers on misquotes
On mt4 we will not have live help no sir we have two other professional
system with live chat but retail mt4 no
Nothing hidden sir all out in the open

Yyours chris laird
Head of sales.

-----------------------------------------------------------------

That is ridiculous, steal ???กกก when they dont like the traders preferences. Im totally agree with your opinion
"if a trader pay the spread what they want more? They can tell us what trade to do to lose all and make them happy???"

So traders are aware with ODL


Best regards
"Even A Thousand Mile Journey Begins with the First Step"
  • #37
  • Aug 31, 2007 9:49am Aug 31, 2007 9:49am
Guys i am with ODL since Feb of this year. i am using ODL currenex or called ODL TRADER CLIENT. i am very happy compairing to other brokers. i have tried atleast 7-8 brokers in my 3 years trading.
Only complaint i have with them is, they have 10 pips spread on GBPJPY and GBPCHF. i guess if we all email them to bring it down to 6 pips, as they have in Matatrader plateform, they will definately bring it down. So please, whether you are ODL customer or not, just email them to reduce the spread to 6 pips on TRADER CLIENT PLATEFORM. you can email to Brian King, who is incharge for USA. His email is [email protected]
Good luck
  • #38
  • Aug 31, 2007 10:30am Aug 31, 2007 10:30am
we were speaking about odl metatrader not currenex
  • #39
  • Aug 31, 2007 10:31am Aug 31, 2007 10:31am
Quoting analizer
Just for your information, about a mail request:

---------------------------------------------------------------
I have been using your demo account (mt4), and it goes overall good
(exception due to large slippages currenex, one huge and famous in all forex forums and as clients we hope you fixed clients accounts that were compromised to those unbeliable spreads, not registered by other brokers)

Im ready to open an account with you, but would like you CLEARLY answer
these questions:

1) Do you allow ANY TRADING STYLE (Scalping, News trading,....)
2) or........ what retrictions do you have for trading?
3) Are you going to display a live help (chat) for clients doubts?
4) some hidden retrictions pertinent to trading?

----------------------------------------------------------------

Dear sir I think your mistaken we do not have slippage unless using
demo for currenx
We do not news traders who steal from the mkt or scalpers on misquotes
On mt4 we will not have live help no sir we have two other professional
system with live chat but retail mt4 no
Nothing hidden sir all out in the open

Yyours chris laird
Head of sales.

-----------------------------------------------------------------

That is ridiculous, steal ???กกก when they dont like the traders preferences. Im totally agree with your opinion
"if a trader pay the spread what they want more? They can tell us what trade to do to lose all and make them happy???"

So traders are aware with ODL


Best regards
yeah, no scalping no news trader... no no no
odl, what kind of trades do you like?
  • #40
  • Last Post: Sep 1, 2007 12:16pm Sep 1, 2007 12:16pm
For anyone on ODL Prime, is the quoted $500MM monthly trade volume requirement flexible or enforced?

I think this may have more to do with HotSpot FXi (that they may be more flexible if you're trading on Currenex). Although I'd much prefer to be on the FXi platform - spreads are often in the sub-pip range (even on exotics), centralized liquidity (no hub-system), no spread shaving, no last-look.
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