ODL Markets

Was with ODL for a while. Found the logging out to be an issue along with positions not showing as open in the open position window.

In terms of customer service, I would have to say it is off the scale. However, I need to have confidence in a platform so have decided to leave for a little bit to see if they can get their issues sorted out. As of now I am unable to log in to the platform because it appears to be down and has been all PM.
 
Was with ODL for a while. Found the logging out to be an issue along with positions not showing as open in the open position window.

In terms of customer service, I would have to say it is off the scale. However, I need to have confidence in a platform so have decided to leave for a little bit to see if they can get their issues sorted out. As of now I am unable to log in to the platform because it appears to be down and has been all PM.

ceydababy et al

thank you for your recent comments. We have been trying to resolve a number of client facing issues. Some have been successful and some we are continuing to try to fix. It is most frustrating, not least from a trading perspective. We will continue to give periodic updates and appreciate all the feedback that everyone has given us.

Thanks,

ODL Markets
 
Contrary to the advertise statement, they will not open accounts to foreigners.

Resubmitted my documents twice, mysteriously lost twice, now (after 3 weeks) they want them resubmitted again but this time certified. At $50.00 a page I don't think so, not to have a new story next week.

So I give up, I'll stick to what I have..

Good Luck.
 
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Hah! you sceptic. Seemed like there where some very specific disconnect problems up to about a month ago there was a fix but apparently users where still experiencing problems. Kind of strange there was a hive of activity until then from users and the guy from ODL who eas posting but it all just stopped. That was what lead me to think that they where still ironing out problems before coming back to the forum. The fact no users have posted for a while makes me wonder if they have put ODL on hold until things are sorted out.
 
Hi

I applied for an account (Spreadbetting ) but did not pass the online process as have just recently moved house. ODL have called me 2 times to ask if I was still interested in an account, I said of course but said the problem is that nothing is in my name here so do not have a utility bill as a form of ID, passport and the like are ok. I asked both times how to sort it out so they said they will send me an email regarding the problem. Got standard email back saying you need blah blah blah and a utility bill. Twice this has happened now. It is a simple request and both times they could not be bothered to answer my question, so will put it here....what other form of I.D is accepitable along with my driving licence and passport. In other words what can replace a Utility bill as I.D

Thanks
 
A credit card or bank statement should suffice providing it shows you at your new address. Best give them a ring and insist on speaking to someone who is prepared to tell you on the spot. This "send it in an email" answer is a bit odd.
 
oliejames

A credit card or bank statement should suffice providing it shows you at your new address. Best give them a ring and insist on speaking to someone who is prepared to tell you on the spot. This "send it in an email" answer is a bit odd.


credit cards do not suffice guys sorry
unfortunately the rules in the uk are set to make it the safest enviroment worldwide.
but we do have strict rules , im sure if you speak with the broker they will advise you of this , suggestion ask to speak to a senior member always get an immediate answer .
ollie
 
ollie

Hi

I applied for an account (Spreadbetting ) but did not pass the online process as have just recently moved house. ODL have called me 2 times to ask if I was still interested in an account, I said of course but said the problem is that nothing is in my name here so do not have a utility bill as a form of ID, passport and the like are ok. I asked both times how to sort it out so they said they will send me an email regarding the problem. Got standard email back saying you need blah blah blah and a utility bill. Twice this has happened now. It is a simple request and both times they could not be bothered to answer my question, so will put it here....what other form of I.D is accepitable along with my driving licence and passport. In other words what can replace a Utility bill as I.D

Thanks

did you ask to speak to a senior member of the company to gain advice , always works
 
did you ask to speak to a senior member of the company to gain advice , always works

I went through a smiler situation with FIN's after sending in my notarized doc's via courier I was then asked to provide a certified map of where my house was, I kid you not!!.

Basically I just kept calling back every 2 - 3 months until one of the more savvy seniors members had a good laugh and opened my account a year later.

So far only CS went smoothly, second by WS then IG..

In a few months I'll give ODL another go..
 
I went through a smiler situation with FIN's after sending in my notarized doc's via courier I was then asked to provide a certified map of where my house was, I kid you not!!.

Basically I just kept calling back every 2 - 3 months until one of the more savvy seniors members had a good laugh and opened my account a year later.

So far only CS went smoothly, second by WS then IG..

In a few months I'll give ODL another go..
know fins well myself nice system but grey out to much over busy times .....
i think everyone now under new mifid are in this situation , persoanlly have no problem with teh finer details , seems to prove that they are more compliant ratehr than slap dash openning ..... are you only spread dealer or do you trade normal systems
 
Platform reliability - this is an area we understand is extreemly important and we therefore take very seriously. We have had issues is the past and have made a number of alterations to improve. We now believe the issues only relates to a very small percentage of people, and is mostly related to how the internet provider handles the type of data we send to your browser. We are working on a solution to this as a matter of priority

Account Opening - I appologise if you feel that we have not provided a high enough level of service to assist in your account opening. We are reviewing procedures and personnel, but if you are not happy with your particular experience please ask to speak to the manager so that we can investigate your specific case and improve our service accordingly.

Account opening requirements - it is company as well as FSA and anti-money laundering requirements that we adequately identify a client, verifying an address is a critical component of this. Actions such as recently moving house make this difficult but not impossible. We can accept legal and mortgage documents as long as the name matches your new address. Again please ask to speak to a manager if you are unhappy so that we can improve our service.

thank you

James
 
know fins well myself nice system but grey out to much over busy times .....
i think everyone now under new mifid are in this situation , persoanlly have no problem with teh finer details , seems to prove that they are more compliant ratehr than slap dash openning ..... are you only spread dealer or do you trade normal systems

I have the same problem with fins, I was hoping their most recent "upgrade" would have addressed this but now along with that issue I keep getting disconnected..

Still trade US markets at OptionsXpress, IMO leverage is far to high using SB for the US markets. I find SB great for FTSE100 shares which I trade like pennystocks. I was trading the full FTSE350 & Tech100 but I just concentrate n the FTSE100 shares now, much better more consistent results.

I also have forex accounts at IBFX & Oanda @ 50:1, but that's really just spreadbetting and also not a real market..
 
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Thanks for the update James. I guess I should try it and see. I have to say I am not sure that spread betting is for me. I have tried a few times with different companies and experienced the usual issues. (skewed quotes, poor 'fills', limitations on orders not 'at the market', refer to dealer if trying to bet any sort of size etc.) Guess I need to just focus on longer swings where a tick or two matters less.
 
Thanks for the update James. I guess I should try it and see. I have to say I am not sure that spread betting is for me. I have tried a few times with different companies and experienced the usual issues. (skewed quotes, poor 'fills', limitations on orders not 'at the market', refer to dealer if trying to bet any sort of size etc.) Guess I need to just focus on longer swings where a tick or two matters less.

BrainStorm

Any update with your experience with ODL?

mar..:cheers:
 
Still haven't got round to signing up to be honest. As I said I am not sure SB is for me I have a couple of dormant SB accounts but do my business direct on the market it always seems so much easier.
 
Still haven't got round to signing up to be honest. As I said I am not sure SB is for me I have a couple of dormant SB accounts but do my business direct on the market it always seems so much easier.

Thanks, BrainStorm...

You must be a daytrader index guy? if so, I'd stick with whats working and pay the tax..

mar
 
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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.
 
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