ODL Markets

ODL Markets

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ODL MARKETS SPREAD BETTING

This is the official thread that can be used to pass comments on our service and our platform. We welcome any constructive comments that are made, and will endevour to respond to as many questions as we can.

We look forward to hearing from you and hope that you can help us improve our service and platform.

Thank you.

Duncan
ODL Markets
 
ODL MARKETS SPREAD BETTING

This is the official thread that can be used to pass comments on our service and our platform. We welcome any constructive comments that are made, and will endevour to respond to as many questions as we can.

We look forward to hearing from you and hope that you can help us improve our service and platform.

Thank you.

Duncan
ODL Markets
Great to see that ODL realizes the importance of such a thread. I hope you will be around in bad weather as well. I also hope we can hold a pleasant note on this thread. This is usually a more constructive way of communicating, and creates a more conducive working environment for you as a representative of ODL.
 
Thank you all for your constructive questions. Please keep them coming! It is probably worthwhile pointing out at this early stage that we will endeavour to answer questions as fast as possible. The most efficient method would appear to be for ODL Markets to collate all questions submitted by members and guests and answer them on a periodic basis (at least twice a week and hopefully more). As you can imagine there has been a flood of enquiries from many sources and we are conscious of the high expectations you have in terms of prompt responses. In the meantime you can always call 020 7903 6362 or visit the website Spread Betting ? Online Financial Spread Betting with ODL Markets for further information.

Thanks,

Duncan
 
In the meantime:

gle101 and mustafa we are offering a GBP account with EURO and USD to follow in the future.

FTSE example for Discover (Limited Risk) Account
I go long at 5900, an automated stop loss will default to 35.4 points (0.6% of opening price) away (the Minimum Order Distance) = 5864.6, unless I manually specify a price that is further away. I am unable to place a ‘secure’ (guaranteed) stop loss that is closer than the MOD. However my margin requirement is only 35.4 points times my stake. If I did £1 a point my margin requirement would only be £35.4.
 
FTSE example for Discover (Limited Risk) Account
I go long at 5900, an automated stop loss will default to 35.4 points (0.6% of opening price) away (the Minimum Order Distance) = 5864.6, unless I manually specify a price that is further away. I am unable to place a ‘secure’ (guaranteed) stop loss that is closer than the MOD. However my margin requirement is only 35.4 points times my stake. If I did £1 a point my margin requirement would only be £35.4.
Thanks a lot, it confirms I have understood it correctly.
 
gle101,
I have a frontier(premium)account.
Speed of trade execution is excellent.
 
gle101,
I have a frontier(premium)account.
Speed of trade execution is excellent.
Sounds great. I guess it will take some time to get to know how they handle different market scenarios. But according to their site they have "instant execution" (large orders an exception). Hopefully this apply even in a very volatile market.
 
What is the minimum amount required to open a spreadbet account with ODL?

PipStar,

there is no minimum amount to open an account but there are minimum margin requirements to open bets (usually a percentage of the value of the bet or a fixed amount). These can be found on the website in the market information sheets and on the platform when you click the 'info' button next to each product.

Duncan
 
Hi,
Just recently joined up. It's pretty good, but there are a couple of problems which I hope is teething problems. The platform locks me out after awhile. Got to close the browser and start all over again. I can imagine problems closing out position in a fast moving market. The other is I can't set up a trailing stop. That's a real nuisnace since as I can't let the profits run as I would like.

emess
 
Hi,
Just recently joined up. It's pretty good, but there are a couple of problems which I hope is teething problems. The platform locks me out after awhile. Got to close the browser and start all over again. I can imagine problems closing out position in a fast moving market. The other is I can't set up a trailing stop. That's a real nuisnace since as I can't let the profits run as I would like.

emess
How about setting a stop loss and amending it, can it be done effortlessly? Do you have a default stop loss level on your account?
 
How about setting a stop loss and amending it, can it be done effortlessly? Do you have a default stop loss level on your account?

I have the 'explore account' which has a default stop. But I can amend this, it seems I can do this only once (unless I've got something wrong, which is more than possible).

emess
 
I have the 'explore account' which has a default stop. But I can amend this, it seems I can do this only once (unless I've got something wrong, which is more than possible).

emess
That sounds risky, yes you probably got something wrong there.

What about the stakes for the rolling indices, what is the minimum stake for UK 100, Wall street, US tech 100 and US S&P 500? I have looked at the market sheet, but I would like to have confirmation on this.
 
I have the 'explore account' which has a default stop. But I can amend this, it seems I can do this only once (unless I've got something wrong, which is more than possible).

emess

emess - i have an explore account as well and it seems to be ok - i can place a stop where i want and can move it closer or away. Most of the time i just let it auto default when i open a position and move it after that
 
All,

A few more responses for you.

Min Stake size - the minimum stake sizes are correct as displayed on the market info sheets on our website. It should be noted that the min stake sizes are different for each account type (lower for the Discover than Explore than for Frontier etc) The minimum stake is also displayed on the market info tab alongside each product on the platform. As an example the Wall Street per point min stake is 50p for the Discover, £1 for the Explore, £2 for the Frontier.

Auto Stop Placement - these are placed at the min margin requirement so that you have the best opportunity to get your trade on, you would be unable to open a trade with less margin than that amount, so it defaults to that level and then you are free to move your stop further away (only if you have sufficient margin on the DIscover account)

Logouts - this is still a problem with IE6, it is of the utmost priority for our technical team and we are expecting to have this issue resolved on wednesday.

Amending Stops - there is no limit to the number of times stop levels can be amended, emess, or indeed anyone, please feel free to call our helpdesk line and explain the experience you are having to one of our team if you are still having problems

Trailing Stops - we understand there are alot of people who want trailing stops, but the problem is that it requires some expensive and complicated technology to provide this service properly and accurately. We are looking into it though for the future, and as far as I am aware only one of our competitors has the capablity to offer it, but they aren't able to take on new clients at the moment.

I see alot of you are already taking advantage of the 1 point spreads on the UK 100, Germany 30 and France 40 Rolling Index bets!!

James
 
l am really having a bad ODL day. I seem to get disconnected from the trading platform quite regularly now. I have done all the normal things such as clearing all cookies etc. And when I re-log on it takes ages to load. I expect it take time immediately after clearing the cookies, but on the second and third attempt it's just not working on my 8meg broadband.

emess
 
Im looking at which provider to use for my spread betting, Do ODL offer a 7 day demo account?

Thanks
Darren
 
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