Phil Mibbutz
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It was established here long ago that all SB companies have 'designer slippage' built into their platforms as a way of tilting the playing field in their direction.
ODL Markets
- Thread starter ODL Markets
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Today it is really easy to compare the SB feed with the future feed, to see if they give you unfair slippage. Yes SB companies do play "tricks", this has to do with SB feed in some instances being narrower than the real market feed. Also this can occur when they do not have enough time to hedge the position. I don't believe for a minute that they will cheat, for the sole purpose of preventing you from winning in the long run. You pay a spread, which in turn will give them an advantage, just like at the casino, where they have the odds on their own side to start with.
Phil Mibbutz
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Most of the time on indices, etc, they don't even need to hedge your trade (just their overall long/short bias) unless you're placing huge bets, in which case they just delay the fill until it goes against you, or reject it if it goes in your favour. Whether this is 'cheating' or not depends on how you look at things!
They have to balance their book according to their risk management and exposure. The problem I am currently having with some SB is, getting the position itself, too many rejects and re-quotes, closing the position is not a big issue as I see it.
Not a big issue ?? If you are taking daily positions then yes not a big issue. If you are using 50/10 tick charts and scalping in and out then it's a problem.
I'll leave you to set out your stand to defend the SB firms as always. THe SB firms who promise big yet fail to deliver, yet you seem to jump on my back for giving an opinion. I notice you ask a lot of people for their opinions yet fail to give one youself.
You think it's ok for a SB firm to log you out twice in an evening session ??? You then give me crap and defend them.
When will you realise that SB firms are out to make money.
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Actually I gave you credit for putting the log outs in the proper perspective. How you can interpret it as jumping on your back, I frankly don't understand.
Of course, they are all in it for the money, whether they make money from the spread or commission doesn't matter.
blancspa
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Odl Mt4
I have not yet seen a proper SB trading platform...
You seem all very patient to me here.
MT4 supplied by ODL looks good until you actually start trading. Re quotes , re quotes , re quotes and several other issues I have mentioned before.
Still looks good compare to others. I have not yet managed to make any money out of SB...
I have not yet seen a proper SB trading platform...
You seem all very patient to me here.
MT4 supplied by ODL looks good until you actually start trading. Re quotes , re quotes , re quotes and several other issues I have mentioned before.
Still looks good compare to others. I have not yet managed to make any money out of SB...
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: [email protected]
The case has now gone to the Ombudsman for arbitration.
If you want to know more email on: [email protected]
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: [email protected]
This is the official thread that can be used to pass comments on our service and our platform. We welcome any constructive comments that are made, and will endevour to respond to as many questions as we can.
We look forward to hearing from you and hope that you can help us improve our service and platform.
Thank you.
Duncan
ODL Markets[/QUOTE]
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: [email protected]
This is the official thread that can be used to pass comments on our service and our platform. We welcome any constructive comments that are made, and will endevour to respond to as many questions as we can.
We look forward to hearing from you and hope that you can help us improve our service and platform.
Thank you.
Duncan
ODL Markets[/QUOTE]
Bit confused with the last two posts.
First thought was that the last one was the reply from odl!
2nd thought was: WTF! that is really taking the p1ss.
Downloaded the odl mt4 to try out because of the spreads on oil and gold. Tight as against IG. Fixed 5 compared to a variable 8 with IG.
But with re quote after re quote while gold was moving this morning turning a grand profit into a just under a break even loss in seconds... The spread doesn't come into it!!!
Just tried the same thing with minimum amount. Trying to close a sell into a falling market gave re quote after re quote while the window 'spun' round 'dealing' with my request.
Open a proper, live account?
Get real!
IG might have wider spreads but give a far better service. It shouldn't be that hard to do! the other sb's are getting there. Slowly.
First thought was that the last one was the reply from odl!
2nd thought was: WTF! that is really taking the p1ss.
Downloaded the odl mt4 to try out because of the spreads on oil and gold. Tight as against IG. Fixed 5 compared to a variable 8 with IG.
But with re quote after re quote while gold was moving this morning turning a grand profit into a just under a break even loss in seconds... The spread doesn't come into it!!!
Just tried the same thing with minimum amount. Trying to close a sell into a falling market gave re quote after re quote while the window 'spun' round 'dealing' with my request.
Open a proper, live account?
Get real!
IG might have wider spreads but give a far better service. It shouldn't be that hard to do! the other sb's are getting there. Slowly.
ODL Markets
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I would like to appologise for not resoponding to comments posted here earlier.
Platform Performance - i would like to appologise to anyone who has experienced issues with our platform. 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.
Order Filling - Our statistics show that we fill over 90% of all orders in under 2 seconds. Orders of particularly large clients or orders that are submitted at a price significantly different from our server price are routed to delers for manual acceptance, these orders may take slightly longer to fill. 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.
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.
Regards
James
Platform Performance - i would like to appologise to anyone who has experienced issues with our platform. 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.
Order Filling - Our statistics show that we fill over 90% of all orders in under 2 seconds. Orders of particularly large clients or orders that are submitted at a price significantly different from our server price are routed to delers for manual acceptance, these orders may take slightly longer to fill. 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.
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.
Regards
James
marlintrdg
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James,
Glad to have you back, your the only other REP that comments on these boards.
I was getting a little leery sticking up for ODL knowing MT4 is the problem especially when I don't have a live funded account on that platform with your company.
IMO your IT people are going to have to lobby metaquotes to make the changes needed to support CFD's in their MT5 release. I really don't see MT4 cutting it.
Maybe a few of the CFD's Co's can get together and form some sort of standards body to put more pressure on the metaquotes developers and to be on the same page..
It would be a great platform if only the thing would work. Also, make sure it supports EOD traders entering shares & stock orders after market close..
mar
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Phil Mibbutz
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'... clients were deliberately slowing prices to gain advantage.'
What does this mean?
What does this mean?
marlintrdg
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Wow I missed that, Dr Who is in the house??
Why didn't I think of that, looking up "sonic-screwdriver" on eBay right now...
Seriously, anyone know how to do this sort of thing??
James,
As you are at ODL, i was wondering if you would like to comment into how i was treated by Frank Freeman and Co.? Your compliance departmnet did not find any wrong doing. Is it normal investors should put all their eggs in one basket and churn accounts to create handsome commissions?
As you are at ODL, i was wondering if you would like to comment into how i was treated by Frank Freeman and Co.? Your compliance departmnet did not find any wrong doing. Is it normal investors should put all their eggs in one basket and churn accounts to create handsome commissions?
Options,
To true about the other SB firms. Capital Spreads have improved no ends and I am currently using World Spreads for a 2 point dow spread. I only go small size £3 a point on the dow and the fills are as a good as IG Index. I cannot comment on world spreads playing with larger amounts per point. However, for what I am doing they are spot on and I only pay 2 points on the dow !! For those going small like me I would highly recommend them.
The main problem with ODL is that for all the hot air about improvements and money being spent this doesn't seem to be delivering many improvements to the platform. The one guy I know who still uses them says he probably gets logged out twice a day. I don't understand how with all the $$$$ allegedly spent they still cannot sort this out. You would hope it's something minor otherwise ODL have a fundamental flaw in their platform and who know's how long that would take to fix. You would think if this was the case however that this bug/issue would have been discovered in testing.
To true about the other SB firms. Capital Spreads have improved no ends and I am currently using World Spreads for a 2 point dow spread. I only go small size £3 a point on the dow and the fills are as a good as IG Index. I cannot comment on world spreads playing with larger amounts per point. However, for what I am doing they are spot on and I only pay 2 points on the dow !! For those going small like me I would highly recommend them.
The main problem with ODL is that for all the hot air about improvements and money being spent this doesn't seem to be delivering many improvements to the platform. The one guy I know who still uses them says he probably gets logged out twice a day. I don't understand how with all the $$$$ allegedly spent they still cannot sort this out. You would hope it's something minor otherwise ODL have a fundamental flaw in their platform and who know's how long that would take to fix. You would think if this was the case however that this bug/issue would have been discovered in testing.
Phil Mibbutz
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All you have to do is travel at the speed of light, which is quite simple when compared with making money on short-term trades through a spread betting platform.
marlintrdg
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All you have to do is travel at the speed of light, which is quite simple when compared with making money on short-term trades through a spread betting platform.
Good one Phil,
I really would like James of ODL to explain this one, that's out their with UFO's, lots of reports, but no little green/gray men..
mar
