No demo account I have been told.
ODL Markets
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Phil Mibbutz
Experienced member
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How about 2pt spreads on the Dow, as offered by A N Other SB outfit:?:
I recently opened a Metatrader demo (I like their forex charts and layout) and noticed that as part of their 'welcome' they had opened an account for me with ODL. Presumably they are using ODL feed. However as I'm thinking of opening an account with ODL does that mean I wil have MT charting with them? From the sound of some of the previous comments about ODL charts it doesn't seem like MT as I've always found them excellent.
By the way I see some people asking about the best 'demo' or 'charting providers', I would suggest they try MT if they are into FX, Oanda are pretty good too.
By the way I see some people asking about the best 'demo' or 'charting providers', I would suggest they try MT if they are into FX, Oanda are pretty good too.
CS CGSL is not a guaranteed stop loss, while the ODL "Discover" account is a guaranteed stop loss.
Well, the deal isn't as good as it sounds. The MDL is set quite far away from your entry level.
Hello James,
It's Thursday now so I thought I'd follow up on this point. The platform is still logging me out on a frequent basis, and it doesn't matter whether I use IE7 or Firefox 2. I've also tested it with the latest beta of Firefox 3, with the same result. I'd say the longest I managed to stay logged in was about 5 minutes. The logouts can occur randomly, but they seem particularly prone to occur when there's any kind of navigation within the trading window which requires web access.
I've just opened up an account but have yet to fund it, and regrettably I'm not likely to as things stand - it's just not fit for purpose. I'm a bit shocked ODL have launched with such major IT problems - it creates an absolutely awful initial impression of the company.
MDL at 0.4% on currencies & 0.6% on FTSE and some other indices isn't bad at all if considered as a last resort or protective stop in any emergency ie sudden news break that spikes the market. Normal stops would have to be applied as usual.
What is more worrying however is the problem raised by Kyoto. If their system is collapsing as regular as he intimates that is an impossible trading environment. Will now wait to see if this gets fixed.
ODL Markets
Junior member
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All,
Thank you all for your comments so far, our responses are below.
Demo - we do not currently have a demo but are looking to introduce one, in the mean time are minimum trade sizes are very low (50p per point for most indices/currencies on the Discover account) hopefully that will not make it too prohibitive to test on a live account. We are also conscious that most other demos we see are nothing like the trading experience they receive once signed up for a 'real' account, and we would like to avoid making a similar mistake.
2pt Dow spreads - although we believe in offering tight spreads and subsequently good value for our clients, we don’t believe in offering headline catching offers to our clients that cant be supported by our service levels. I have been informed from many clients how they were drawn to tight spread offers from competitor firms, only to find, particularly in a fast moving market like the Dow, that paying 4 points and having your deal executed quickly and efficiently is preferable to waiting for your attempted deal, which may or may not be executed, then losing many times more than the additional spread when the deal is rejected and you have to attempt to trade at a less preferable rate.
Charting - We will shortly be improving our charting experience, please can I ask for your patience until this is tested and implemented. We will inform clients when this is available
Minimum distance levels - the minimum distance levels of guaranteed stops are there to protect us from those wishing to gain an unfair advantage from a situation that the type of client this product is aimed at benefits from enormously. All other companies that offer guaranteed stops do so by enforcing a minimum distance from the market. It should be remembered that these guaranteed stops are free, and on products with an already tight spread. We believe the minimum distance levels for our markets are currently set a fair level away from the market.
Logouts/Disconnections –The issue was more complicated than initial assessments determined, and we are happy to go into the detailed technicalities with those affected who call our helpdesk. We now believe we will resolve the issue, if not by tomorrow (Friday) then certainly by Monday. It is only being experienced by a small number of users in certain circumstances, which made it very difficult to discover both in testing and subsequently. I can only apologise to those that have been affected so far and hope that those few experiencing these difficulties bear with us until the issue is remedied.
James
ODL Markets
Thank you all for your comments so far, our responses are below.
Demo - we do not currently have a demo but are looking to introduce one, in the mean time are minimum trade sizes are very low (50p per point for most indices/currencies on the Discover account) hopefully that will not make it too prohibitive to test on a live account. We are also conscious that most other demos we see are nothing like the trading experience they receive once signed up for a 'real' account, and we would like to avoid making a similar mistake.
2pt Dow spreads - although we believe in offering tight spreads and subsequently good value for our clients, we don’t believe in offering headline catching offers to our clients that cant be supported by our service levels. I have been informed from many clients how they were drawn to tight spread offers from competitor firms, only to find, particularly in a fast moving market like the Dow, that paying 4 points and having your deal executed quickly and efficiently is preferable to waiting for your attempted deal, which may or may not be executed, then losing many times more than the additional spread when the deal is rejected and you have to attempt to trade at a less preferable rate.
Charting - We will shortly be improving our charting experience, please can I ask for your patience until this is tested and implemented. We will inform clients when this is available
Minimum distance levels - the minimum distance levels of guaranteed stops are there to protect us from those wishing to gain an unfair advantage from a situation that the type of client this product is aimed at benefits from enormously. All other companies that offer guaranteed stops do so by enforcing a minimum distance from the market. It should be remembered that these guaranteed stops are free, and on products with an already tight spread. We believe the minimum distance levels for our markets are currently set a fair level away from the market.
Logouts/Disconnections –The issue was more complicated than initial assessments determined, and we are happy to go into the detailed technicalities with those affected who call our helpdesk. We now believe we will resolve the issue, if not by tomorrow (Friday) then certainly by Monday. It is only being experienced by a small number of users in certain circumstances, which made it very difficult to discover both in testing and subsequently. I can only apologise to those that have been affected so far and hope that those few experiencing these difficulties bear with us until the issue is remedied.
James
ODL Markets
discipline_d
Newbie
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has anybody found any new problems or "problems
" with odl so far. I have two questions. 1) why do your charts show the price 1.00 less than the price quoted why not just have it at the same thing, and 2)why are your times 2 hours ahead of normal gmt time??
" with odl so far. I have two questions. 1) why do your charts show the price 1.00 less than the price quoted why not just have it at the same thing, and 2)why are your times 2 hours ahead of normal gmt time??ODL Markets
Junior member
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d_d
charting should be much better now - should be based off our midprice. Times should be normalised now. Shout if you see any errors.
Many thanks
charting should be much better now - should be based off our midprice. Times should be normalised now. Shout if you see any errors.
Many thanks
Hi,
I've just spent the day testing out the platform, with moderate success. It would've been even better had I not made a couple of stupid trades and not taken profits at the first sign of a retracement on the winning trades. Still, you live and learn...
I've got a couple of issues.
Firstly, I was logged out several times during the day, sometimes when I had open positions. Thankfully, the price hadn't moved far by the time I logged back in, so I wasn't hurt, but I thought you should know that this problem still persists.
Secondly, it would be very helpful if the Open Positions tab displayed real time P&L instead of updating every 30 seconds. Are there any plans to upgrade the platform to do this?
Thanks
I've just spent the day testing out the platform, with moderate success. It would've been even better had I not made a couple of stupid trades and not taken profits at the first sign of a retracement on the winning trades. Still, you live and learn...
I've got a couple of issues.
Firstly, I was logged out several times during the day, sometimes when I had open positions. Thankfully, the price hadn't moved far by the time I logged back in, so I wasn't hurt, but I thought you should know that this problem still persists.
Secondly, it would be very helpful if the Open Positions tab displayed real time P&L instead of updating every 30 seconds. Are there any plans to upgrade the platform to do this?
Thanks
charliechan
Experienced member
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30 seconds is real time with spread betting. the pnl is based off current market price right? well if they are the only party you trade against (as is with all sb), then they can quote whenever they like i imagine. perhaps they only requote every 30 secs?
fibbinstarchi
Active member
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Just use MT4 it makes sense, then do 24hr FX trading then see how you grow.
Why don't you run your SBet platform through the Metatrader Charting platform?
Also, why don't you offer 24 hr trading for the FX, after all, the FX is 24 hrs? Can never understand why some of the smaller SBet companies open their FX trading desks at 7am.
Why don't you run your SBet platform through the Metatrader Charting platform?
Also, why don't you offer 24 hr trading for the FX, after all, the FX is 24 hrs? Can never understand why some of the smaller SBet companies open their FX trading desks at 7am.
No. Prices quoted, and which you can buy/sell at, update tick by tick. P&L updates every 30 seconds. There can be many ticks in a 30 second period if the market is liquid. You can easily close a position at a different P&L to that displayed.
ODL Markets
Junior member
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All,
Once again thank you for all your comments.
1) Real Time P&L - we are currently working on this, it is purely a performance issue with browser based platforms. We are currently the only company that shows you the margin utilised per position on a browser based platform, and displaying this alongside realtime P&L is computer resource intensive. We are working on a mechanism to make it real time, but are soon likely to refresh P&L every 10secs rather than 30, this will be noticably better.
2) Charting - you have noticed that our charting is now vastly improved. The chart prices shown are mid price therefore will not be directly reflective of the price we are offering. You will notice these update realtime and therefore make excellent tick charts, and also have extensive historical data for the longer-term trend chartist.
We receive a number of requests to use Metatrader charts, but Metatrader is a downloadable application and our clients predominantly prefer non-downloadable browser based access to their platform, therefore our charting needs to be browser based also, and i believe our current offering is the best browser based charting available on the market at the moment. Metatrader charts are not extractable from the remainder of the Metatrader trading platform.
thanks
ODL Markets
Once again thank you for all your comments.
1) Real Time P&L - we are currently working on this, it is purely a performance issue with browser based platforms. We are currently the only company that shows you the margin utilised per position on a browser based platform, and displaying this alongside realtime P&L is computer resource intensive. We are working on a mechanism to make it real time, but are soon likely to refresh P&L every 10secs rather than 30, this will be noticably better.
2) Charting - you have noticed that our charting is now vastly improved. The chart prices shown are mid price therefore will not be directly reflective of the price we are offering. You will notice these update realtime and therefore make excellent tick charts, and also have extensive historical data for the longer-term trend chartist.
We receive a number of requests to use Metatrader charts, but Metatrader is a downloadable application and our clients predominantly prefer non-downloadable browser based access to their platform, therefore our charting needs to be browser based also, and i believe our current offering is the best browser based charting available on the market at the moment. Metatrader charts are not extractable from the remainder of the Metatrader trading platform.
thanks
ODL Markets
Opening an Account
I have an ODL account but it comes up now as closed.
I can still log in but cant get the spread betting platform opened.
What do i need to do to get this reopened and use the spreadbetting platform.?
Do i need to reapply?
Many thanks
CJIA
I have an ODL account but it comes up now as closed.
I can still log in but cant get the spread betting platform opened.
What do i need to do to get this reopened and use the spreadbetting platform.?
Do i need to reapply?
Many thanks
CJIA
