ODL Markets

Odl

My input on this....

Platform Performance - We have spent alot of time and resource fixing issues that have been reported to us. We believe we have made considerable inroads in this departments as the number of reported issues to us have dropped considerably, but I understand that there are a few clients who are still experiencing problems. To any client that is having these problems I would urge you to call our desk and ask for me (James) directly, state that you are having these issues. I am prepared to financially compensate any individual that significantly assists us in determining and ultimately resolving these issues. It is going to be very difficult for us to resolve these problems without our clients assistance.

I still don't understand how considerable in roads could have been made if the same issues are reoccuring either they're fixed or they're not. I will say in ODL'S defense that ALL STAFF are extremely friendly and polite.

Order Filling - Our statistics show that we fill over 90% of all orders in under 2 seconds. We have had to introduce this as we discovered that a small number of clients were deliberately slowing prices to gain advantage. This acts as protection for us but wil have the effect of slowing clients who snipe, or trade in particularly fast markets.

For the most part your fills are FAST. However the P&L that follows your position and the trade appearing in the open position window can take 30 secs to 1 minute to appear.

MT4 - We are aware of some of the issues that surround MT4 and we are in constant contact with the makers of the MT4 platform. Unfortunately the fact that this platform is not controlled by ODL can make improvements difficult or slow.

Spreads - Ceydababy amongst others have commented on our spreads. I believe that our spreads are very competitive, we are tighter than competitors in some makets and not others, it is important to look at the range of products that you are trading and not just the headline ones. I have also heard alot of comments from clients lured in by ridiculously tight spreads only to be constantly requoted.

You were the tightest around when offering 0 points on FTSE. I don't see a market where you are TIGHTER than anyone else. Plenty where you are the same and plenty where I can get cheaper elsewhere. In terms of tight spreads GFT offer an exceptional service. I have been with World Spreads for more than 1 month and have not had any requote problems at all on their 2 point spread.
 
Just wait to see what happens if you start making consistent gains!

Hi Phil,

You're right. Only trading £1-£5 a point but yes no point continuing anymore. It appears world spreads have screwed me.

I made some money and was happy with the platform so upped my size to £3 to £5 a point. I made £2.3k on monday and tuesday night trading Dow and withdrew the bulk of it at 5pm today and thats when the fun and games started.

1. Short at 412 (bet is being processed window for about 30 seconds) the price moves to 419 and they fill me. I try to jump at 422 and get a bet is being processed window again as I watch the price climb up and up to 440. I get offered 435 to get out so take it. Instead of a 10 point hit I took a 23 point hit.

2. Short at 410. This time the market makes movement down as expected (all the while bet is being processed window is hanging there) I get offered a price at 394.

3. Long at 393. Again bet is being processed window for the longest time, market then spikes up to about 420 pulls back and then they fill me at 393.

Before anyone talks about volatile conditions I have been using this account for a few weeks and had no problems until a withdrawl and trading at the larger size.

I spoke with a chap called Omar at World Spreads to see what the hell was going on and his words EXACTLY were " We only really want mutually benefical business" In other words if you are making cash bugger off.

He also told me that if you are taking a position trade you don't care about 16 point slips in price.
 
Hi Phil,

You're right. Only trading £1-£5 a point but yes no point continuing anymore. It appears world spreads have screwed me.

He also told me that if you are taking a position trade you don't care about 16 point slips in price.

Thanks for the heads up, that explains how my EOD system month end totals are not adding up when I take profit.

Somebody got to be "the real deal" here.

I still think you may have to give FB a try if your daytrading.
 
Some interesting points here

I joined ODL last month after some excellent customer service (it's not dead after all!) but haven't used them yet and doubt I will. This 0.6% minimum stop they have is no good for my stategy and so I'm going to stick to IG for now.
 
I've been trading with ODL since May on their 'Discovery' platform. Have had a number of issues, mainly to do with browser compatibility (the platform doesn't always work completely smoothly on Safari on a Mac, particularly when allocating automatic stops - it prefers Firefox) but I have to say that the staff have been absolutely delightful to deal with, and have always made a real effort to resolve problems - really excellent customer service and not the rude brush-offs that you can get when you call other companies with problems (I've traded with Capital Spreads for longer and had a number of 'issues' with execution which were never resolved properly).

In general I find their spreads very reasonable especially on some of the rolling FTSE share bets and they are very nice people to work with - in general speed of execution is fine; the only issue is that in very fast moving markets sometimes orders can take more than 10 secs to fill which is often the difference between profit and loss. But for the entry-level trader like me I've found them really helpful and always extremely courteous.

One issue is that they don't offer futures on equities at all which can be a disadvantage if you want to put on a long position and try to hold it over a number of months - overnight financing can mount up. So what I tend to do is use IG for longer term trading (particularly long equities - not that this is much use in these markets...) and ODL for intraday or short FX/index positions. Nice people and they are working hard to be competitive I think.
 
Yo Yo Yo! Big P is in da house.

Joking.

ODL are offering £200 cashback currently. Basically it means - if you lose up to £200 more than your original funding (for up to 6 weeks) you can get up to £200 back. But it'll only be here for a few more days (guy on the phone said it was only for sep!).
 
I am with ODL and the issue I have the amount of times markets are suspended. Friday dead on 9pm ftse suspended, seen ftse on other fridays suspended at 9pm and stay suspended until 9.15 and then the market closes. Anybody with a position could be trapped over a weekend where profit could turn into a loss by 11pm sunday when they re-open.

The charts stop working on the ftse 9.10pm which started this week.

Staff friendly, not like the rude worldspreads.

Dow spread wide and ftse future's spread wide, use world spreads 2 point spread on the dow. Too many companies say our spreads are some of the tightestin the business, normally just 1 market and the other markets are the same as anybody else.

Still no guaranteed stops on the middle and top account.

No trailing stops, can't put in stops using a simple 6 points away instead of having to manually have to put a full price in the stops box.

If IGindex did 1 point spread on the ftse I would fund my account again.
 
I am with ODL and the issue I have the amount of times markets are suspended. Friday dead on 9pm ftse suspended, seen ftse on other fridays suspended at 9pm and stay suspended until 9.15 and then the market closes. Anybody with a position could be trapped over a weekend where profit could turn into a loss by 11pm sunday when they re-open.

The charts stop working on the ftse 9.10pm which started this week.

Staff friendly, not like the rude worldspreads.

Dow spread wide and ftse future's spread wide, use world spreads 2 point spread on the dow. Too many companies say our spreads are some of the tightestin the business, normally just 1 market and the other markets are the same as anybody else.

Still no guaranteed stops on the middle and top account.

No trailing stops, can't put in stops using a simple 6 points away instead of having to manually have to put a full price in the stops box.

If IGindex did 1 point spread on the ftse I would fund my account again.

Giving them another whirl whilst trying out something new. I can trade 50p a point DOW which is ideal for trying out new ideas. Fills are quick as I would expect at 50p a point. However, I am noticing exactly the same thing as you on Thursday at about 830pmish they suspended the dow.

I also agree it's laughable when these firms advertise the tightest spreads in the business and don't deliver them.
 
ODL YOUR ****. 1944:44 stopped out at 8505 - where on the charts or tick charts does it hit this position. Anyone verify that the DOW actually reached this level?

-17 instead of plus 100. ****ing A.
 
ODL YOUR ****. 1944:44 stopped out at 8505 - where on the charts or tick charts does it hit this position. Anyone verify that the DOW actually reached this level?

-17 instead of plus 100. ****ing A.

High at 19:44 GMT is 8502(S)-8506(B) in my chart (Tradefair)

Why are you putting your stops so close to obvious locations?
 
I was more pissed off that it didn't show it on my chart than anything else. I was trying to trade the dow, not yet used to using stoplosses on it, I like them tight.
 
I opened an ODL account a couple of weeks ago and have been using the platform to trade professionally. The platform is great - clean and simple and works a treat. Have had NO technical issues. There are no self imposed stops in place but bear in mind it is there policy to close out positions if you get to zero cash (which is fair enough and similar to CMC and Capital who put in automatic stops) and GFT who liquidate when you hit 25% cash. Have traded about 100 times and ODL have filled me at the price I clicked. Yes it takes up to 5 seconds to go through but they have filled me everytime.

Plenty of guys on here seem to hve an issue with instant execution when attempting to scalp. What I would say is you CANNOT scalp a spreadbetting firm. For true scalping you HAVE to have DMA. You are scalping the MARKET and cannot afford to be dealing through a third party.

I have used most spreadbetting firms in the past. IG have a great platform that works. Futuresbetting platform is good if you are more experienced and want 'DMA' but customer service is limited. ODL have surpassed my expecytations and more - cannot recommened them highly enough.

JSB
 
I opened an ODL account a couple of weeks ago and have been using the platform to trade professionally. The platform is great - clean and simple and works a treat. Have had NO technical issues. There are no self imposed stops in place but bear in mind it is there policy to close out positions if you get to zero cash (which is fair enough and similar to CMC and Capital who put in automatic stops) and GFT who liquidate when you hit 25% cash. Have traded about 100 times and ODL have filled me at the price I clicked. Yes it takes up to 5 seconds to go through but they have filled me everytime.

Plenty of guys on here seem to hve an issue with instant execution when attempting to scalp. What I would say is you CANNOT scalp a spreadbetting firm. For true scalping you HAVE to have DMA. You are scalping the MARKET and cannot afford to be dealing through a third party.

I have used most spreadbetting firms in the past. IG have a great platform that works. Futuresbetting platform is good if you are more experienced and want 'DMA' but customer service is limited. ODL have surpassed my expecytations and more - cannot recommened them highly enough.

JSB

Wrong, ODL are probably the best for scalping.

And i get instant fills.
 
Just read JillyB's review. So short-term trades are 'unethical', according to ODL. Perhaps they should make that clear before people open accounts expecting to trade using the 'high speed web platform' they boast about?
 
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