ODL launch spread betting!

Hello Everyone!
Broker ODL have launched a spread betting service.
I have tried and the speed of trade execution is exceptional.
At the moment they do not offer 24 hr trading but am assured it will be available very soon.
Another promising addition to the spread bet world..i hope..
The website is: Spread Betting ? Online Financial Spread Betting with ODL Markets
Pleasant weekend to all!

That was new to me, thx for the info.

Since they are White Labels in FX and CFD I'd be interested in the partner who execute the FSB.
The Platform looks like the City Index Trading Tool..

whipsaw said:

That was new to me, thx for the info.

Since they are White Labels in FX and CFD I'd be interested in the partner who execute the FSB.
The Platform looks like the City Index Trading Tool..

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Yes it looks quite interesting. I don't know if they have a white label setup, the spreads don't seem to be the same as City Index, even though they might be licensing the system platform. Yes it is really good with growing competition, only the best will survive in the near future. I will for sure have a closer look at them.

You are right - Definitly!
I support more competition, because this will be the only way to kick out all dubious brokerage companies from the business.

ODL is already a brand and I guess they're doing a good job.
But finally it will be hard for any Broker from the "2nd row". To survive they have to offer superior service and knowledge...

There still exist a few niches in the business which should be used...

Have a nice sunday u'all

I'm also hoping the competition will reduce the spreads. Saw ODL's ad last year but they only launched it after one year delay.
Their spreads are not better than competitors, unfortunately. But from the screen shots, their platform seems to have the most comprehensive types of orders. This is great. However, not 24-hour operating is not acceptable for me.
So I'm not motivated to try it yet.:cheesy:
Any more comments about their platform?

jimmea said:

I'm also hoping the competition will reduce the spreads. Saw ODL's ad last year but they only launched it after one year delay.
Their spreads are not better than competitors, unfortunately. But from the screen shots, their platform seems to have the most comprehensive types of orders. This is great. However, not 24-hour operating is not acceptable for me.
So I'm not motivated to try it yet.:cheesy:
Any more comments about their platform?

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Charts?

neil said:

Charts?

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Haven't found any examples of their charting yet, only mentions of it.

"We have a comprehensive charting package and news service built into the trading platform."

"Versatile and professional Charting Package"

This bits new and different though and applies to their Discover (Limited Risk) Account "All trades opened will carry a FREE guaranteed Stop Order", this they say is auto generated and set at the minimum distance away ...

charts are not good - look like they come from dig look. what they do have is 3 different account structures with one that offers 'free' guaranteed stops which is quite useful, so no more bad fills!! Looks like they are a completely independent service as all their prices are different.

Marketing has been rolled out

Investors 'should consider spread betting'

London Stock Exchange - Article

What spreads are they offering on their FTSE cash rolling? Is it as competitive as Capital Spreads?

emess said:

What spreads are they offering on their FTSE cash rolling? Is it as competitive as Capital Spreads?

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Yes I had look at their market sheet. 1 point spread on the FTSE Rolling Cash, it looks like Capitalspreads got some competition on their hands.

Spoke to ODL today..
24 hours forex spread betting will be available from next month..

Shame the platform logs you out after 10 minutes if its inactive.
Spoke with ODL today they say they are trying to correct it.

Just received an e-mail from ODL Markets stating they are offering 1tick spreads on Euro cash index's 8.00 - 16.30!! Sounds interesting!!

I would like to give some responses on behalf of ODL Markets to comments that have been posted previously.

Independent - We are a totally independent spread bet offering that is not a White Label of any other company, this allows us to offer the higher level of service we consider appropriate and to offer the spreads we wish to and enable us to create unique features and functionality on our platform for our clients

24 Hour Trading - We will be offering 24 hour trading in March. This will not just be FX markets but Asian and US Indices, Commodities and Bonds also.

Charting - We are working hard to improve our charting which has been substandard so far, please expect some improvements over the next few weeks

Disconnections - some clients have experienced this in certain browsers (IE6) our technical team are investigating this as a matter of priority and assure me it will be resolved very shortly. These problems are far less prominent when using the latest version of Internet Explorer (version 7) or Firefox (Firefox web browser | Faster, more secure, & customizable)

Free Guaranteed Stops - it IS true we have an account that offers FREE guaranteed Stop losses on all trades. This account type is aimed at the novice investor who needs the protection and reassurance this offers. This product is not aimed at the more experienced trader, who is likely to find it too inflexible for their needs, but there are still 2 other account types that are available with varying flexibility levels

Order functionality - we pride ourselves on giving the clients the ability to place more advanced orders, that’s why our clients can place IF DONE orders, OCO Orders, and even IF DONE ORDERS on both parts of their OCO orders, all in an easy to use order ticket.

Spreads - We feel we are very competitive in our spreads, we are 1 point spread on our Rolling FTSE bet during cash market hours, and have just reduced our DAX, CAC and EUROSTOXX Rolling products down to 1 point spread during cash market hours also. (as of today)

We are happy to take constructive comments and questions on any aspects of our offering, and we now have a ODL Markets thread under Platforms/Spread Betting available also.

Thanks

James

Sounds good so far. Does the platform have automatic trailing stops?

Phil,

we do not have trailing stops at the moment although we have had a look at them (also trading off charts). There are a number of issues, not least from a pricing / trigger / fill perspective that we are looking at but can not give an ETA at this point in time.

Duncan

ODL Markets said:

Phil,

we do not have trailing stops at the moment although we have had a look at them (also trading off charts). There are a number of issues, not least from a pricing / trigger / fill perspective that we are looking at but can not give an ETA at this point in time.

Duncan

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Thanks for the prompt reply, Duncan. I think only one SB co has auto trailed stops at the moment, so ODL would have a edge over most if this could be implemented.

Demo accounts ?

It will be interesting to see how this company shapes up. I would liked to have opened a demo account to get the feel of the platform etc but as far as i can see, this facility isn't on offer.

ODL Markets said:

Phil,

we do not have trailing stops at the moment although we have had a look at them (also trading off charts). There are a number of issues, not least from a pricing / trigger / fill perspective that we are looking at but can not give an ETA at this point in time.

Duncan

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Great to have you on board Duncan.

What about user predefined stop loss? By this I mean a user default stop loss, instead of the default CGSL (computer generated stop loss).