ODL Securities

in Brokers / Forex, Equities, Futures & Options, Spread Betting & CFDs

Established in the UK in 1994, as Options Direct Limited, ODL Securities is a leading, independent FOREX, derivatives, equity and commodity trading house.

Headquartered in London and with affiliates in Australia, Japan and Turkey, ODL has over 200 staff globally and clients from over 100 countries. ODL Securities offers Retail, IB and White Label clients an integrated approach to trading diverse financial products. This is done via state of the art, automated trading platforms and risk management systems. The Group companies now trade under the names ODL Markets in the UK (for retail business) and ODL Japan KK. It also has a corporate finance division specialising in the mining and oil sectors.

Originally founded in 1994 as an Options House with just 28 staff, ODL Securities Limited received a capital injection from new shareholders in 2004 and a new senior management team was appointed. Since then, a wide range of enhancements have been implemented across all areas of the business, and new products introduced. 

ODL Securities Limited is authorised and regulated by the Financial Services Authority and is a member firm of the London Stock Exchange and NYSE Euronext, LIFFE. It is also a designated broker and a member of APCIMS.


Country: United Kingdom

Website: http://www.odlsecurities.com

Ranked #29 of 112 Brokers

Odl_markets

Rated

9 reviews

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Aug 11, 2009

Slippage and more slippage

every trade opening and closing suffers slippage. 2 pips spread on cable is effectively 4 pips. Almost every trade I take I get slipped 1 pip away... second later I look at the price and its back up 1 pip. It's almost like they have add 1 pip to every trade order. Just because I'm paranoid doesn't mean they're not out to get me lol

Junior Member (1 review, 30 posts)

0 of 0 members found this review helpful.

Jun 30, 2009

A bucket of ODL

Im only trying the demo and its awful. I trade crude oil a lot and recognize when to trade and patterns on the charts. Sudden 30 pip spikes do not happen when it is only the asian market trading. On this platform it does if you place stops.

I placed a sell only for the platform to freeze immediatley after. We all know what happens next dont we? I only got back after 85 pips of upward movement.

I emailed my queries to them and after a few days still no reply.

I hope this thread saves a few people some time and a lot of money.

Rookie (1 review, 13 posts)

5 of 5 members found this review helpful.

Jun 03, 2009

Another bucket shop!

I have been trading with ODL Markets for some time. I really just want to give traders a warning about a naive practice that is conducted by this firm.

If you trade using guaranteed stops then expect to see the G-Stop disappear before significant price movements. The trading platform also has a habit of throwing you out before a price move. Obviously you can use this to your advantage or as a confirmation signal that the price is about to go in the opposite direction - which I have done now on numerous occassions - but for those who expect to be trading the market.... BEWARE...

What the above basically means is that you can not leave the computer while you have a live trade or certainly while the price is 50-100 pips away from your stop-loss. Otherwise you may get back to the computer only to find out that you have lost the entire account, the house, the car and the dog...BEWARE!

While their entire offer isn't all bad such tactics mean that I have to rate this company as low as possible.

Okay, time for me to move on to test the next SB company.

Junior Member (8 reviews, 33 posts)

2 of 2 members found this review helpful.

Feb 24, 2009

Keep Away from ODL

Their platform logs you off especially at start of good trading oppertunitites. Then you have to reboot the PC just to get connected with the Internet again?

Stay away

Newbie (1 review, 1 post)

4 of 5 members found this review helpful.

Dec 22, 2008

No scalping allowed

Just to let everyone know that ODL UK do not allow scalping. My account was closed last week as 6 trade I had place in the past 2 weeks (out of a total of 86) were opened and closed within a minute, due to quick price movement.

My account was closed without notification - this came three days later, after I had telephoned to ask what the problem was. The email sent described my trading style as "unethical". Perhaps it was more the fact that my account had increased by 50% in 2 weeks that they didn't like.

Just to warn others out there who use ODL - beware!

Veteran Member (2 reviews, 799 posts)

15 of 15 members found this review helpful.

Dec 18, 2008

Poor software

Extremely poor trading software. Only done a few trades, nothing seems out of order on that side. But the trading software. Lordy. I makes me sick thinking of how crap it is.

Rookie (1 review, 11 posts)

1 of 1 members found this review helpful.

Nov 07, 2008

Fair

Had 2 disputes with ODL and both times they were fair crediting my account in minutes. I don't think I would of got the same service with other sb's.

Senior Member (1 review, 114 posts)

1 of 2 members found this review helpful.

Sep 30, 2008

Frank Freeman

I lost my life savings (net worth) with ODL securities on an advisory basis in 5 months. I invested £71,500 and was left with just £900. I was commissioned over £32,400.

The case has now gone to the Ombudsman for arbitration.

If you want to know more email on: louisjordan10@yahoo.co.uk

Junior Member (1 review, 42 posts)

3 of 8 members found this review helpful.

Dec 18, 2003

Satisfied customer

I have been an ODL customer for 3 years and have never once ever considered moving anywhere else. Its difficult to know where to start as the service has always been of a high level. I trade USA/UK stock/Options and more recently CFD's. I believe the charges are reasonable, I have never thought to seriously check. There is a direct trading platform provided by MyTrack which gives access to more markets than I need and for instruments which I will probably never consider. Ther are delayed and RT facilities and of course you get what you pay for although customers do get reduced costs if they trade once a month, not usually a problem. More recently ODL have added a "lite" web based trading platform which I have only had a cursory glance, wasn't to impressed compared to the direct facility but a good backup. I have on occasion needed their help with money/stock transfers and every instruction I have given them has courteously and efficiently been carried out. I even get interest on my cash if out of the market which beayts most spreadbetters and the fills are usually better than quoted. I trust this is an unbiased opinion as I am, as it says above, a very satisfied customer.

Member (1 review, 51 posts)

7 of 7 members found this review helpful.

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