ODL Markets

ODL Markets said:
Fibbinstachi - As mentioned we are looking into offering spreads on MT4, will keep you updated. We already have lower than £1pp min bet sizes on many products, I believe we are some of the lowest around.

Marlintrdg - I am sorry to hear about previous issues you may have had with ODL, please feel free to call into our helpdesk on 08000 154800 and discuss the situation with one of our team who can hopefully help you

alanp314 - our charting is from the same provider as IG, a company called IT FInance. You are correct that with our Discover account the min Bet size on the FTSE100 is 50p per point and you will even find that the spread to have a free guaranteed stop is just 1 point in hours!!

***24 HOUR TRADING***
From the 21st of April, ODL Markets will be trading 24 hours from 10pm Sunday nights to 10pm on Firday nights. We will be offering overnight spreads on FX, Indices and some bonds and commodities.
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Will be looking forward to the MT4 based spreadbet trading/charting platform, as long as there's no funny business with the trade fills and can go up to £1000pp, I can't see that you will have any problems greatly increasing your customer base.
Are the clients funds in a segregated account?
 
What are your ftse spread in hours and out of hours and do you do a daily rolling ftse bet. Whats the extra spread for guaranteed stops.
 
gle101 said:
Here you can find the market information sheets.
Product Information
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Thanks gle101.

From peoples personal opinion how do ODL compare to other SB companies. Have people found them better or worse, do they give you a fair chance. I have read stories on here about SB companies playing tricks, slow filling, ect. Is ODL better.


Mike
 
potshot said:
Thanks gle101.

From peoples personal opinion how do ODL compare to other SB companies. Have people found them better or worse, do they give you a fair chance. I have read stories on here about SB companies playing tricks, slow filling, ect. Is ODL better.


Mike
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I'm waiting for the MT4 Spreadbet platform before trying. Currently using GFT, after dumping CMC due to being sick and tired of their trickery. GFT are ok so far, good fills (but I'm still new) but poor charting platform compared to MT4.
I wish OGL would hurry up and get the MT4 Platform sorted out.
 
fibbinstarchi said:
I'm waiting for the MT4 Spreadbet platform before trying. Currently using GFT, after dumping CMC due to being sick and tired of their trickery. GFT are ok so far, good fills (but I'm still new) but poor charting platform compared to MT4.
I wish OGL would hurry up and get the MT4 Platform sorted out.
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I used to trade with CMC and know all about their tricks. One monday morning tried to buy the ftse for £40 and then iwas quoted 4 points higher, tried with £20 and took it down to £1 and the price still came back 4 points higher.
 
Spread Betting on MT4 - We will shortly begin the process of attempting to get spread betting on MT4, I will stress that some of the 'features' that spread betting customers are used to, such as orders aware margining and guaranteed stops will not be available. MT4 spread betting would be vanilla spread betting but with all the functionality of MT4.

Fibbinstarchi - at this early stage i cannot promise that we will provide liquidity in £1000pp on the MT4 platform, we do offer this size on our current platform depending on market conditions.

All our spread betting clients funds are segregated.

Potshot - We quote the Rolling FTSE Market 1 point wide between 08:00 and 17:30, and 6 points wide outside of these hours. We now quote the FTSE 24 hours a day.

In terms of our operating ethos, we try our hardest to offer a service that is as fair as possible to our clients, we recognise that they are the life blood of our business. Unfortunately there are a very small minority who attempt to abuse our service and we need to protect ourselves. We do try and ensure that the activities of the minority do not spoil the experience for the genuine majority.

If anyone ever feels they have been treated unfairly then i urge you to contact us, we will treat every circumstance on it merits. Without your feedback it makes it harder for us to improve.

thanks

James
 
fibbinstarchi said:
If you want to greatly increase your customer base and keep us all plus becoming the best and only HONEST s/bet company out there you simply need to do the following:

1: Include MT4 for spreadbet as well as your browser based trading/charting platform.
2: 24 hrs on FX
3: No silly requotes, platform freeze ups at busy times (the usual s/bet crooked games, I'm sure you're aware of these as we all are).
4: Continue where you started off, to listen and answer questions honestly (we are not daft, we know when we are being deceived).
5: Let us bet up to a £1000+ per point.
6: Introduce micro bets for better granularity of bets (i.e 10 pence per bet min) this is useful for % per account based bets.
7: Offer us a choice of being able to bet in what % of risk per our account on each position instead of us having to work it out like Oanda has.

That's off the top of my head, do this and you will be No1 in now time, and stay there!
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ODL Markets said:
fibbinstarchi

1. an interesting idea - I will have our project manager look into this. we currently have multiple platforms (including MT4) for our fx offering, so it is not inconceivable.
2. will be happening shortly
3. we have spent considerable time ensuring that the platform will not freeze up during busy periods. This is more an IT issue rather than a crooked game....
4. Agree
5. In theory there is nothing stopping you from trading over £1000 per point. What markets were you looking at?
6. we have fairly low minimum bet sizes
7. we are working on a more user friendly risk management tool, but this is quite a bit of work especially with 3 different account types with different rules (and is going to take some time).

Regards,

Duncan
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With regards to question 6/7 your minimum bet sizes are fine but it would make life much easier for us if you allowed us to trade in £0.1 or even £0.5 increments like on your metatrader platform(mini lots aswell as standard lots), so if we wanted to trade eur/usd at 3.4 pounds a point we're not forced to only trade either 3 or 4 pounds which is not ideal for people who risk a fixed percentage of their capital per trade.
 
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ODL Markets said:
Spread Betting on MT4 - We will shortly begin the process of attempting to get spread betting on MT4, I will stress that some of the 'features' that spread betting customers are used to, such as orders aware margining and guaranteed stops will not be available. MT4 spread betting would be vanilla spread betting but with all the functionality of MT4.
James
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James

Is ODLS really going to put your spreadbetting offering on MT4? If so this will surly jump ODLS to the top of the spreadbetting co's especially if you can keep up your end..

Any idea of the date on this?, does anybody know of any other spreadbetting firms going down the MT4 road?

What time zone will the platform be on? 00:00GMT or will it be on a time zone more conducive with securities trading?, IE: end of day on UK stocks time or US stock times and not in the middle of the night like most of the other MT4 brokers..

It all sounds to good to be true, but I think we're overdue!:clap:
 
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My first impressions of ODL spreadbetting

TRADEFAIR offers tighter spread on all the UK shares that I follow and offers a wider choice. Please offer tighter or at least match tradefairs spreads and include smaller cap shares.
For example I often trade Aquarius Platinum and with ODL the spread is 6 points while with Tradefair it is currently 4 or 4.5.

However the spread size issue is academic when the trading platform is unusable due to the prices in the trading window freezing. I first noticed this when I wanted to go long, the price on the chart was constantly rising but the price to trade was stationary. After I missed 10 points I then decided just to monitor the situation. During the day the prices stuck several times more. Most worryingly this occurred just before the time of a US data release. By the time I had realised this and relogged in again it could have been very costly if I had been unable to close a position before the data release time if desired. The problem occurs with just two market data lines. Worryingly this happened again at the time of the next data release.
Unfortunately I only found this forum after I had experienced the above problems with ODL. From the previous forum posts I can see that there is a genuine desire by ODL to provide a top quality trading platform with the suggestions of the other forum members but I am very concerned that months after a problem of data disconnections is known about ODL still allows new traders to use this software without any warning.
I have not experienced one single problem with Tradefair data stoppages.
 
Just Signed Up.......

I have just signed up to ODL. Currently use IG Index, but saw your crazy 0 point spread offer on the FTSE and figured I would have a crack.

Platform looks good and I like the Calender function very handy. Also the fact that you can deal from the actual screen with no pop up deal ticket and set your stops/limits at the time of taking a trade.

All looks very easy to use. Will report back in a week or two...good or bad (hopefully good)

Without wanting to be negative I would say that the following statement might be a touch OTT:

"i believe our current offering is the best browser based charting available on the market at the moment"

IG Index charting is off the scale in comparison. However you are paying for it in the spread I guess. The ODL charting is functional certainly not the best browser based charting package I have seen.

Is the 0point FTSE spread here to stay ??
 
Yes this is a really smart way of getting traders to sign up for an account. Even if they lose out on this offer, it is probably cheaper compared to the cost of advertising. As they are saying, they can terminate this offer at any moment. It is only for the Discovery account though, but still, a good offer and a good way of showing the industry that ODL is here to stay. I will probably sign up myself in the weeks to come.
 
Sign on Issues.......

I enter my username and password. I get to a screen that says Logon Successful "Click here to launch platform"

Click to launch platform.....GET NADA, NOTHING at all....Tried it about 3 times now....

Anyone else having this issue ??

It was working earlier and late last night after my account was confirmed.
 
Potshot,

I suppose the lack of response to your question is confirmation.

Look at all the enthusiasm. Unbelievable.

Grant.
 
Problem Rectified. If this happens just clear out your internet Cache. Prompt and fast resolution from ODL.

A lot of people have been asking on here for a demo account. To be honest at 50p a flippin point on the FTSE you aren't going to hose money whilst trying it out. I find that the difference between a demo platform with play money and then loading your own money on to an account for the first time and trading for real are so different the Demo account is largley pointless.

I would rather ODL focus on improvements to the actual platform where I am using my own money, than to waste resource building a demo platform so people can play. If you can't afford 50p a point to test something out then maybe spreadbetting isn't for you
 
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grantx said:
Potshot,

I suppose the lack of response to your question is confirmation.

Look at all the enthusiasm. Unbelievable.

Grant.
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Grant, this is nothing new, once again, competition and regulation will take care of it. Anyway, you have a responsibility as a trader to weight all this into your risk management.

MT4 is very interesting and would definitely be a step forward for the SB industry.
 
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