ODL Markets

[Phil Mibbutz]

You haven't lost anything by not getting the 0 point spread with ODL. They have extremely slow execution and what you see is not what you get when you trade with them. When you are losing the platform seems to be faster so that you can quickly close the trade and loose money. Capital spreads is a thousand times better than them.

ODL's platform better than CS's, in my experience.

 

[amtrader1]

Hi everyone,

Just signed up with ODL. They're still advertising 0 point spread on their google adverts but they've cancelled it on their platform. I've checked out the platform, it's better than I thought but they don't have access to S&P 500 and eurodollar. Considering how big these 2 markets are I don't understand how come they're not on the platform.

I'm fedup of looking for a good spread betting company. I trade FTSE (1 pt spread), S&P 500 (4 pts spread) with Etrade and eurodollar with Oanda. Can anyone tell me of a place where I can get a cheaper deal, especially for S&Ps; 4 pts spread is a disgrace.(Also want good execution+reliable platform)

 

[ODL Markets]

'0' spread offer - we have indeed ended our promotion on the '0' spread FTSE. We have now replaced it with an offer for those who open an account between now and the end of August can reclaim £200 worth of losses back within their first 6 weeks of trading. Please see the website for details

Our platform does have the S&P 500 index rolling and futures, as well as having the eurodollar and many other products. Our Eurodollar and Dollar Yen are 2 pips and Sterling Dollar is 3 pips. Our S&P 500 is also 0.4 wide, I have not seen anything narrower in the market and considering the underlying trades about 0.5 wide a great deal of the time I am not sure how it could be deemed 'disgraceful'.

I would like to point out a couple of areas worth investigating when comparing our product to some of our competitors. Our FX financing uses market sourced Tom-next financing rates with a narrow haircut, these provide considerably better value than calculating the cost of borrowing/lending the 2 component crosses with a haircut, as used by at least one of our competitors. Hold a position with us overnight compared to Capital spreads for instance and compare.

We also offer a true 24 hour trading with normal stake sizes allowed, more flexible overnight order handling, more products available to trade overnight, dealers at the end of a phone to place deals and handle queries, longer coverage hours (10pm sunday to 10pm friday nights).

Dont forget we also have 3 different types of account to suit your needs and free guaranteed stops on our Discover account.

We are always interested to hear other companies spread rates, offers and functionality, so please feel free to inform us whats available so we can improve our value and service.

James

 

[gle101]

Hi everyone,

Just signed up with ODL. They're still advertising 0 point spread on their google adverts but they've cancelled it on their platform. I've checked out the platform, it's better than I thought but they don't have access to S&P 500 and eurodollar. Considering how big these 2 markets are I don't understand how come they're not on the platform.

I'm fedup of looking for a good spread betting company. I trade FTSE (1 pt spread), S&P 500 (4 pts spread) with Etrade and eurodollar with Oanda. Can anyone tell me of a place where I can get a cheaper deal, especially for S&Ps; 4 pts spread is a disgrace.(Also want good execution+reliable platform)

One is always looking for good spreads, fast execution and a reliable platform. You have to compare the SB spread with the futures and included the commission, to see if you get a good deal. The real market spread on the S&P 500 (ES future) is 0.25. Compare this with ODL spread and you will find out that 0.4 spreads is quite good taken the commission in consideration.

0 point spread on the FTSE as pointed out by me earlier on this thread, was just a temporary marketing strategy from ODL to gain a lot of new clients. 1 point spread on the FTSE is very good if the platform perform well otherwise.

I have not started trading with ODL yet, I have been waiting for the platform to get more stable. By the way James, ODL's spokesman is responding on this thread it looks very promising indeed.

 

[chilltrader]

I find the fills on ODL quite slow as compared to competitors like Capitalspreads or Worldspreads. The platform itself leaves much to be desired. The user friendliness, functionality, screen/layout & presentation aspects are sadly lacking.

 

[gle101]

I find the fills on ODL quite slow as compared to competitors like Capitalspreads or Worldspreads. The platform itself leaves much to be desired. The user friendliness, functionality, screen/layout & presentation aspects are sadly lacking.

Yes I am sure ODL needs to improve the platform in some areas. The platform is quite new and its bound to be some initial problems. ODL have been around for quite some time in some other areas of financial investment. I am quite sure they are aware what it takes to compete in this highly competitive market and are ongoing working to make the platform run more smoothly. Capitalspreads for instance have had platforms problems for years, it is only this last year their service have improved considerably.

 

[Phil Mibbutz]

We are always interested to hear other companies spread rates, offers and functionality, so please feel free to inform us whats available so we can improve our value and service.

James

Both Worldspreads and GFT offer 2pt spread on the Dow, so how about matching that?

 

[Phil Mibbutz]

ODL's platform not working well today. Very s-l-o-w and some of the charts aren't working.

 

[DMFXTrader]

A lot of people have stated that the fills are slow on the ODL platform. What happens if you enter a trade and the fill is so slow that the price has moved - do they fill you at the price you clicked or the price it has moved to?

 

[chilltrader]

A lot of people have stated that the fills are slow on the ODL platform. What happens if you enter a trade and the fill is so slow that the price has moved - do they fill you at the price you clicked or the price it has moved to?

It just gives you a message saying

"If you do not get a confirmation within 10 seconds contact customer service"

If you are lucky you might have been filled at the price you clicked at, otherwise no fill. Also, you cannot enter any new trade (even on any other instrument) while that message is there. I find that I have to restart the platform to "make it work" again! - this happens 90% of the time.

 

[blancspa]

Odl Mt4

Hi

What are your opinions about trading CFD`s with ODL on MT4? I trade only FTSE100, SP500 and thiking to trade Dow Jones.
I am trying MT4 Demo account for some time and like the charting and indicators (like the platform in general).
I fed up looking for good SB company. Either 4 point on FTSE spread with IG Index or very slow execution with GFT (not mentioning disastrous experience with CMC).

Is it worthy consider opening account on MT4 with ODL for a intra-day trader?

Any opinions appreciated as my boss is thinking to open account today

Thanks

 

[£10kLoser]

Where do you get 4 points spread on the FTSE with IG? I get 2 points...

 

[blancspa]

it is

when you have an access to only limited risk account they offer you something called Guaranteed stop loss, whixh they charge 2 pips for. It is obligatory.

They are not able to offer me Standard account, the one you enjoy so gracefully.

Regards

 

[marlintrdg]

Hi

What are your opinions about trading CFD`s with ODL on MT4? I trade only FTSE100, SP500 and thiking to trade Dow Jones.
I am trying MT4 Demo account for some time and like the charting and indicators (like the platform in general).
I fed up looking for good SB company. Either 4 point on FTSE spread with IG Index or very slow execution with GFT (not mentioning disastrous experience with CMC).

Is it worthy consider opening account on MT4 with ODL for a intra-day trader?

Any opinions appreciated as my boss is thinking to open account today

Thanks

For a intra-day tradeing if your just trading the indexes it should be OK, If your looking to trade the actual ftse100 shares, their are about a dozen on a daily basics that are missing data.

Being a old daytrader and intra-day trader for many years, I'm not to sure how to do this without a level II screen, but that's how I was taught so I'm sure their must be other ways..

I was demoing CFD's on ODL MT4 platform to be used instead of a web-based SB platform but I found it be be quite problematic. As an End of Day trader trading ftse100 shares as mentioned missing data for many shares and worst of all, their is no trading outside of market hours to place orders so its quite useless for me..

For trading forex which it was designed, it works fine.

From my time demoing the MT4 platform I think ODL's is making a great effort to make it work and I didn't see anything at their end to suggest ODL was messing with anything, I just don't think the MT4 platform in its present form will not work well for trading share CFD's. Maybe the new MT5 will address some of these issues.

Have you considered a DMA broker?

Edit: One last thing, don't forget a demo account and real account on the real data feed is going to be a lot different, it is on all myforex MT4 accounts. The live data may also address the missing data feed for the ftse100 shares, just don't know as I've not funded a live account their..

 

[blancspa]

Odl Mt4

Thanks

Unfortunately for some reasons DMA for my employer is out of the question (I have suggested IB).

Going Bak to ODL MT4. I have struggled immensly with the trailing stop for several days and after I have figured out how it suppose to work (but it didnt) they told me over the phone that trailing stop is down from the morning and they fixing it.

Why did they folled me around for 2 days? Poor me

Regards

 

[marlintrdg]

Thanks

Unfortunately for some reasons DMA for my employer is out of the question (I have suggested IB).

Going Bak to ODL MT4. I have struggled immensly with the trailing stop for several days and after I have figured out how it suppose to work (but it didnt) they told me over the phone that trailing stop is down from the morning and they fixing it.

Why did they folled me around for 2 days? Poor me

Regards

I my 3+ years years of using MT4 to trade forex, I have never seen the trailing stop feature work properly.

One last suggestion, have a look around for CFD brokers that offer Nija Trader or Strategy Runner, their going to charge you but it may be worth it..

Opps I forgot, have a look at these guys, FuturesBetting.com I have not traded their, but they talk up a good sales pitch..

Oh, and the very last thing, I think we should get back to Odl Markets spreadbetting discussion and move this one over to the CFD forum.. j.a.s.

 

[Phil Mibbutz]

It just gives you a message saying

"If you do not get a confirmation within 10 seconds contact customer service"

If you are lucky you might have been filled at the price you clicked at, otherwise no fill. Also, you cannot enter any new trade (even on any other instrument) while that message is there. I find that I have to restart the platform to "make it work" again! - this happens 90% of the time.

The 10s box always appeared, but that didn't matter when the fills were prompt. Yesterday everything took longer than 10s. Don't know for sure if the fill was given at the click price, and I'm not keen on spending money finding out! Haven't had to restart recently, though.

 

[blancspa]

I've been testing your MT4 CFD platform, keep getting trade disabled on the CFD's, I suppose its not live as yet.
UpDate: 7/10/08 CFD demo trading on FTSE100 Shares is working, no idea.

I see the FTSE 100 shares listed and many others including the US stocks.. Do you have a listing of the available securities your MT4 platform has listed?. Also, what the different colours represent? A URL would work.. (Found it) ODL Markets Broker in CFDs | CFD Market Information

Also as discussed, no OCO, OSO, Bracket orders, scale-outs. No spread sizes, margin requirements, hours of operation and roll over data.

Market orders are a pain, (F9 yes/no? are you sure!!!!??, Re-Quote!!!))

The pricing on the CFD's needs work, maybe a script to adjust how MT4 prices VS Shares & Stocks.

The chart representation is skewed, (take a screen shoot of MT4 & compare it to a ScareScope chart or other charting package), but that's a pet peeve of mine and supposedly going to be fixed in MT5, also indicators do not draw correctly on shares, stocks, futures or indexes, works fine on forex..

Like I said early, MT4 will need allot of work to work in the SpreadBetting arena but the ODL I.T. crew is making an herculean effort to make it work..

(Oh, and don't even start me on the EA's BS!!)

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Agree.

The MT4 platform is freezing
Indicators are wrong
And the customer service will try to fool you

I have recently opened CFD account with ODL and have to say that the dream converted into a nightmare so far

I have not started trading live, but I doubt I will.
what else ?

Trailing stops don`t work (if you use them or not).

Have not tried the other but ODL is not that great in overall.

And today they have treatned me thay will close my accounts if I won`t stop calling them.

Cheers

Have fun

 

[marlintrdg]

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Agree.

The MT4 platform is freezing
Indicators are wrong
And the customer service will try to fool you

I have recently opened CFD account with ODL and have to say that the dream converted into a nightmare so far

I have not started trading live, but I doubt I will.
what else ?

Trailing stops don`t work (if you use them or not).

Have not tried the other but ODL is not that great in overall.

And today they have treatned me thay will close my accounts if I won`t stop calling them.

Cheers

Have fun

I really don't think ODL has anything to do with it, MT4 is the problem here I and fear you may be getting blow-back in customer service with the frustration their experiencing with it..

EDIT: ODL have another CFD platform you may what to try, its java based so not really much better than flash/shock or Web but its design works for share/stock & index trading..

 

[blancspa]

I really don't think ODL has anything to do with it, MT4 is the problem here I and fear you may be getting blow-back in customer service with the frustration their experiencing with it..

EDIT: ODL have another CFD platform you may what to try, its java based so not really much better than flash/shock or Web but its design works for share/stock & index trading..

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Well, I would slightly disagree.

Take a look at MT4 platform on the 5 min UK 100 chart (candles). At about 12.05 GMT the price just dissapear for about an hour (back at 13.29).
I dont know if it has to do anything with Interest rates news. However for 1 hour the customer service tried to convince me that my internet connection is down.
How it can be down on 20 computers connected to 2 providers via several servers.
If that is not enough, I have been using at the same time GFT platform on the same desktop and the price was moving while on ODL didnt.

My point is not to discredit the broker as I recommended it to my employer and I have to trade on it. My point is how am I going to trade on it??????

What other ODL platform did you say ?

Kind Regards