ODL Markets
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ODL Markets
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Peakoil,
please be assured that you can close a position via the phone if circumstances do not allow you to trade over the internet.
Your point is valid about not having heard of ODL. Spread betting is one of a number of products including fx, on-echange, cfds, options and institutional equity marketmaking (ODL Capital) that we have. We are striving to build the spread betting operation by reputation and embrace good criticism so that we can make changes to the platform, procedures etc.
Regards,
Duncan
please be assured that you can close a position via the phone if circumstances do not allow you to trade over the internet.
Your point is valid about not having heard of ODL. Spread betting is one of a number of products including fx, on-echange, cfds, options and institutional equity marketmaking (ODL Capital) that we have. We are striving to build the spread betting operation by reputation and embrace good criticism so that we can make changes to the platform, procedures etc.
Regards,
Duncan
BrainStorm
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Are you still looking at offering the MT4 platform to spread betters?
marlintrdg
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BrainStorm, having used Metatrader 3 & 4 for forex for over 4 years now and also the web-based platforms for spreadbetting, I think their maybe serious limitations to the SB trader using MT4.
I too was on this bandwagon for MT4 but having traded CFD's with it,(very short experience as one gets hit with spreads, libor +commissions) it was not pretty..
I too would be very interested in others experience with this (maybe I'm just thick) and also ODL Markets take on this..
Mar..
ODL Markets
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BrainStorm,
we now offer cfds on MT4 and analysing the potential for spread betting. There are, however a number of hurdles that need to be managed.
Regards,
Duncan
we now offer cfds on MT4 and analysing the potential for spread betting. There are, however a number of hurdles that need to be managed.
Regards,
Duncan
ODL Markets
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goodtyneguy
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There's an interesting discussion on MT4 here MT4 Brokers' Virtual Dealer Plug-In
marlintrdg
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Only works on Forex & Indexs, so far I haven't seen it run on ODLs. They would be idiots to try..
marlintrdg
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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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End of 0 Spread.......
Bit dissapointed ODL have finished their 0 spread on the FTSE.
The plus points for ODL were:
0 point FTSE Spread
Excellent Customer Service
The negative point for ODL is:
Inconsistent Platform performance
Slow moving prices
Now they have removed the main plus point the 0 point spread, don't see much point in continuing using them. I can get better FX spreads at Capital Spreads, exactly the same Indicie spreads at Capitals. I get a faster moving price and the platform seems to be comparitivley stable.
The customer service at ODL is far superior to Capital Spreads, but I find I only need customer services when something goes wrong !!
Anyways.....will now be closing my odl account. Sorry guys.
Bit dissapointed ODL have finished their 0 spread on the FTSE.
The plus points for ODL were:
0 point FTSE Spread
Excellent Customer Service
The negative point for ODL is:
Inconsistent Platform performance
Slow moving prices
Now they have removed the main plus point the 0 point spread, don't see much point in continuing using them. I can get better FX spreads at Capital Spreads, exactly the same Indicie spreads at Capitals. I get a faster moving price and the platform seems to be comparitivley stable.
The customer service at ODL is far superior to Capital Spreads, but I find I only need customer services when something goes wrong !!
Anyways.....will now be closing my odl account. Sorry guys.
marlintrdg
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ceydababy
Interesting review and the comparison to ODL Markets & Capital Spreads.
You may have saved me allot of hassle here, thanks much..
mar..
Not trying to knock ODL at all. Just that if the platform is unreliable (log outs, price freezes) and you can't set stops (unless 35/36 points away from CURRENT PRICE) then why would you use them. When for the same "cost" so to speak you could use a firm like GFT who offer same spreads on most markets or capital spreads who are the same if not cheaper on all markets. CS have taken a pounding on here before, but do appear to have got their act together. With both of these firms you can set stops, price seems to move faster and I have yet to suffer at the hands of Capital Spreads due to a crashing platform, log out issues. All the fixes from ODL's end seem fruitless.
I
Phil Mibbutz
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Let's face it, the zero spread offer just couldn't last!
marlintrdg
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All the problems you describe are the same issues at I'm having at Fins and why I've had to dropped them.
Looks like I'm stuck with CS at least until WS gets themselves a real trading platform.
If IG dealt in price instead of points, or both, all this would be mute even with their high spreads and margins, however their insistence that one solution fits all take it or leave it has really soured me with them, really quite sad as they have the very best SB platform out their..
edit: the simple solution IG might look at is adding in a "price to points" on-the-fly converter on the deal ticket for stops and limits, seams simple to me and shouldn't effect the underlying platform..
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chilltrader
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Dont like IG at all - spread is way too high.
If making ~100 trades a month, thats a lot of money in "commissions" as compared to WS or CS.
I operate with a small account, so IG is definitely out of question.
If making ~100 trades a month, thats a lot of money in "commissions" as compared to WS or CS.
I operate with a small account, so IG is definitely out of question.
BrainStorm
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Theres a few things I don't like about WorldSpreads. Skewed prices, poor platform, stops and limits need to be placed 5 points outside the market, poor reporting of bets. There are a couple of other minor things too.
Apart from the tax and flexibility in bet size I think just about every time you are better taking a position in the underlying market. The exception might be a SB company that offers DMA with a spread bet 'wrapper'. Every time I try SB I end up going back to trading rather than betting.
Apart from the tax and flexibility in bet size I think just about every time you are better taking a position in the underlying market. The exception might be a SB company that offers DMA with a spread bet 'wrapper'. Every time I try SB I end up going back to trading rather than betting.
marlintrdg
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Interesting observation and resolution. As an EOD trader I find WS quite useless in its present form. They've been promising to fix it for 2 years now, still not working. One simple addition to the present platform and it would so much better IMO. Of course their dealing with traders in the UK so It must work for them.
I've been looking at SB and CFD (& actively trading both with real money),as a alternate to options trading with OX on smaller stocks/shares (<=25.00). IE Trading a very highly leveraged security with no time decay that kills most straight option plays also you rarely end up with zero value like when an option when it expires. Its also allot easier to trade SB/CFD than options.
I'm also demoing the ODL Markets MT4 platfrom for CFD's, so far I'm not very impressed, all MT4 related issues. I really don't think it can work..
In the US markets I only trade front month options, or a covered calls, the high leverage of SB/CFD's type trading in the US markets is a little much for me to sleep well at night, however it must be amazing for daytraders...
My major issue with all the SB Co's to-date (not IG as yet) is they don't stick with their own published rules and the customer is always wrong, that's gotten quite old now.
When is comes to trading its still a "calculated bet" your putting on, it's just less likely the trading house your dealing with will change the rules in the middle of the bet as the trader has recourse.
Forex trading; I just stick with Oanda, 4 years of fighting with spot forex "brokers" has left me resigned to the fact IMO that Oanda is pretty much it. Hate their platform though, what a pain...
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BrainStorm
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Marlin you make a couple of interesting points. Firstly if your time horizon is longer (actually I figure hours upwards) then some of the issues that face spread betters are 'diluted'. Have you looked at MBT for spot forex? they offer access to a couple of interbank rates and you pay commision. My broker (Interactive Brokers) seems to have 'proper' FX prices too.
Spread betting always sounds appealing but the practicalities mean it comes up short.
Spread betting always sounds appealing but the practicalities mean it comes up short.
marlintrdg
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I find theirs always some sort of "slippage" or other strange things happening when dealing with forex on regular DMA type broker, the "spread" always shows up in some way.
I haven't tried MBT but have heard good things about them, however Oanda is "good enough" for my end of day system, don't use lots of leverage in spot fx..
The jury is still out on SB in my case, I see it has possibilities once you have no plans on daytrading or anything that requites market orders, or the platform not disconnecting on you.
I'm also I'm still looking at its close cousin CFD's but really haven't seen any great advantage in one over the other yet, not EOD on the FTSE100 shares anyway, obviously SB is still easier to deal with..
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e-TraderUK
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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.
