Hi, I'm thinking of signing up for ODL mostly to take smallish (i.e., <5pp) crude positions. Spreads of 8 ticks on monthly crude (as I understand it) aren't exactly market leading but as long as there's no messing around/delays, they're not at all unreasonable.
However, I noticed that the minimum order for internet execution is 1pp and phone: 5pp. But... what happens if I needed to close an internet position quickly and I couldn't for whatever reason log on to the web platform? Is it guaranteed that I could close a position of less than 5pp by telephone in such circumstance that logging into the web platform becomes infeasible? It would be very unfair if the 5pp minimum rule for phone orders applied to closing positions as well as opening them, at a time, e.g., when closing is prevented by my being unable to log into the web platform.
That being said, as a prospective new client, it also disturbs me that the platform might be unreliable by any means. Getting a rock solid platform should be a matter of extreme urgency: Frankly, if I knew it were reliable I'd have signed up already. But going through all the signup and credit check rigmarole only to find that I'd have to undergo the same all over again a few days later with another SB co., i.e., should ODL prove unreliable is slightly off putting.
It's important that good word of mouth gets out about ODL markets from current clients: Admittedly, I'd never previously heard of ODL except by checking this forum just to find comments on another SB company which were sufficiently off-putting that I've now almost accidentally noticed ODL! Suffice to say, the lack of immediately obvious negative comments is maintaining my interest. As a potential new client I'd hope that ODL strives to make its money honestly - that is, from the fact that most lose of their own accord without being helped a long the way by any trickery; as regrettably too many other sb co.'s seem to be relying upon, in these times.
