ODL SecuritesODL Securities Inc.

aquaart, forexfactory.com, 11/01/2009 ,

They dont allow news trading, scalping, carry trade etc.

When you break their rules, they stop you trading, and send you re-quotes even during quiet periods with little movement. However, other brokers have the same rules its just that they do not tell you about them, and switch to variable spreads upon news releases.

suspect, forexfactory.com, 11/01/2009 ,

Am trading with ODL since a year.. trading max. 10lots/scalping & longterm (check thread EUR/JPY), no slippage, fast withdrawl and nothing like you guys claiming here. I just know one sort trader talking like this.

It´s always easy to blame the broker for own incompentence.

Im fine with them.

James, FPA, 08/25/2009 ,

After all the bad talk about ODL in London from all the people on here, I was naturally sceptical about an account, however, having used both ODL in London and now the new AxisODL based In Australia I can say i've never had any problems, they are friendly, have much better support than any broker and i am not just 'another client' in their eyes. Winners win, losers win, the people on here are found just about on any company's reviews, so if you are new to the game, always be careful about what you read, i have my own personal account manager who is always on call. get a life to anyone else!

Artem, earnforex.com, 08/25/2009 ,

Very poor service. They lied or their supporters do not know much about their services as when I asked them about simple things they always told me to ask someone else from their team or call them. And I became furious when they told me that they have no commissions for CFD transactions and when I opened a position and made some profit I was suprised that I am still negative. They take $30 to open a position and additional $30 to close it. THAT'S how they call it "NO COMMISSION"???? 60 bucks for 1 transaction! Can you imagine it??? I lost around $60 and they stopped to reply to my emails in which I asked them to explain their lies....

Paul, FPA, 08/25/2009 ,

Yesterday, I got a call from a very incompetent support guy who told me that I'm not allowed to run my EAs because they trade "outside the ODL datafeed". How can I trade outside the datafeed?? They offer BID/ASK with a wide spread and I have to take, what they offer.
I guess, the problem was that I started to make money..... It's like in a casino: as long as you are losing, you're a welcome guest

Aaron Cohn, earnforex.com, 08/25/2009 ,

ODL recently decided to wage war against the users of a robot/EA by closing all the accounts & busting all the trades made using the robot/EA. One manager at ODL accused users of the robot of "stealing" from ODL.
ODL is not friendly to users of EAs and may simply undo trades made that it does not like. They have a twisted view of reality in which they can not deal with clients who win in the markets. Remember... If you use them, you have been warned!

Nicky, FPA, 08/25/2009 ,

Two words - KEEP AWAY! They will keep your account and you will get quite a few unsolicited calls from their representatives when you are losing money (read "they are getting your money"). However, as soon as you start making money, they will close your account - sure sign of a sweatbucket shop that lives off your hard earned money.

While they may have the prerogative of not allowing scalping trades or EAs, why weren't these same trades or EAs banned when they were making losses? I have never seen them complaining that non-profitable scalping EAs were "against the policies of the company."

Herbert, FPA, 08/25/2009 ,

I work with them since 2006. At that time I could never complaint. The executions were quick. But they did not allow scalping the news. So I decided to use a non scalping EA. I made a lot of money. But in November/December 2008 the did not allow to use this EA anymore. I got as new account with varible spreads, which has no dealing desk. Since then everything works well again. But they have wide spreads compared to other brokers. And I think, that their business model with their standard platform only works well, when the traders lose. If you expect to win, you better chose the platform with varible spreads or some other broker.

Macdonald, forexf1.com, 08/25/2009 ,

Sure fire way of losing money. Price manipilation is what ODL does best. They are always in court for fraud. Check online or in the papaers if you doubt this. They always \'misplace\' customers money and will block accounts before a significant market move.