ODL Securities - Forex Broker Review

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ODL Securities has regulated offices all over the world from the UK, USA, Canada, Japan and many other countries. The ODL Securities in the UK has been registered with the Financial Services Authority since 1994 and is a member of the London Stock Exchange.

This broker has had a tremendous popularity through out the years it has been in operation. It started online in 2004 and is nowadays ranked as one of the largest non-bank participants in the foreign exchange market. Remember, even if it is a well-known broker, it does not necessarily mean that this broker will suit your needs as a trader.

Now, having said that, lets have a look at what they may have to offer you. These are some of the main features you will benefit when doing business with this broker:

• 24-hour online, telephone and Reuters trading
• Price transparency and consistent liquidity
• Very competitive spreads on over 80 currency pairs, typically 3 – 5 pip spreads on the major currency pairs
• Instantaneous auto trade executions
• Low FX margin requirements
• Access FX, spot gold & silver with margin requirements that start at just 1% or leverage of 100-to-1
• High-tech FX trading platforms
• Flexible lot sizes ($1 per point - $10,000 per point)
• Platform monitors and controls risk exposure in real time
• Hedging capability
• ODL Securities pays interest on those funds not being used for margin purposes
• 24 hour personalized customer service
• Ability to trade on news events (this is great if you are a news trader)
• You may trade other markets such as futures, equities, CFD’s, oil...

I have to admit, there are some seriously great features provided, that you will not find in many brokers.

Now that we’ve had a peek at the good side, lets dive into and have a look at its dark side (Sounds like another Star Wars Epic).

The Cons:

• Tends to manipulate price sometimes without giving you any notice. (That is a major drawback)
• They sometimes forbid news trading (though it says on the information page that ODL securities does not restrict News trading)
• They do have a lot of cases against them with the NFA (a definite minus).

I know that sometimes it may be a big challenge to make an inform decision concerning a broker. You will come across a lot of good and bad reviews making it even harder for you to decide. Always focus on what you need the most as a trader, which style you want to specialize in and then decide which broker best suits those needs.

Remember that trading is not a game, you are dealing with real money and thus you should treat it like a business. Sometimes, things will go wrong, you just need to protect yourself to the best of your capabilities and the more experience you get, the better you will be at minimizing your risk exposure.

Happy Trading.

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