Ratings for ODL Securities



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ODL Securities

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"Could be good, but just too expensive" - informtrader

June 11, 2009 5:52 AM


Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability

I have been with ODL for a while. I joined them because they had a base in the UK and I was looking for a non-US broker at the time. I was also a little new and naive to trading. I must say they have provided decent service. I stopped using them a while ago when I realised how ridiculous the pricing was. For instance, even though I did quite high volume I was paying $12 round turn on Emini S&P and DOW! I know, just ridiculous! I was paying £8 round turn on FTSE future contract! They said I may be able to reduce this to £7!? The margin for the FTSE is £3000 per contract! I believe the emini's margins are around $5,000! I am now paying commissions that soooo much less than this and I've found an excellent US broker. Changing broker was the best thing I ever did. I don't mean to be horrible to them, but I just wonder how they ever managed to do any business whatsover, ODL is not even close to being competitive. I guess they were relying on newbies like I was. They don't bring anything different to the table, so unless they can be competitive why use them?

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