ODL Securities

Acquired by FXCM

ODL Securities - Forex Broker

Broker nameODL Securities
Company nameAcquired by FXCM
Online since2004-01-01
Site urlhttp://www.odlsecurities.com
CountryUnited Kingdom
Minimum account size2000.00
Minimum account size currencyUSD
Minimum position size0.100000
Maximum leverage100
Maximum leverage description1:100
Spread levelmedium
Spread description2 pips on EUR/USD
Is regulatedYES
Regulation descriptionRegulated by Financial Services Authority. It is a member of the London Stock Exchange and London International Financial Futures and Options Exchange (Euronext.LIFFE).
Easy registrationYES
Votes count108
Rating3.40
Email[email protected]

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Advantages

  • MetaTrader 4 Forex broker.

Disadvantages

  • No longer accepts U.S. citizens.

Payments

  • Credit cards
  • Wire transfer
  • checks

Categories

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13 Reviews

  1. Fred:

    Believe me of not, but those guys Yasir from Pakistan and Luke from London posted the same reviews on this broker. It looks like ODL praise itself.

  2. Alex K:

    ODL Securities is scammer and nothing more. I can give you a hint that Chris Hossain is one those who is stealing your money. If you do not want to lose your money, do not trust them your money. They have bad services. This is a totally unhelpful broker. They must have a company full of liars. I really ask you, do not trust them your money!

  3. Frozen Dreams:

    What happened with me was the following. I sent then a kind letter with some question and some inquiries at [email protected]. I got the reply from then in thirty days! And their claim to be a front-desk! They did not even answered questions! They told me that they did not have a collection of my letters. So, how can they know about my interest in investing with them ? This situation made me to reconsider dealing with them and trusting them my money. After I went through all those I am only stronger in my opinion.
    Thank you all for you honest comment! I am using FxPro. I have chosen them because I have found many good reviews on them and also I have heard on them many good things.

  4. ALAA ELDIN:

    I am a novice to Forex trading. But I can tell that this broker is not honest and fair.
    I wanted to contact Mr. Chris Laird Mr. Anastasiadis,
    I got an answer from Mr. James Lawrence to my question… but every time I got the only one answer and contacted Chris was in vain. They do not respect their customers, they dishonestly cheat their clients. I also noticed that they have opened USD/CHF two times instead of one time as I asked. I am sure that they use some tricks to steal the money from their customers. Their customer service is very bad and very slow. I still have to get from them $24.87. This is what was left when on my balance when I closed my account. This really makes me angry. I said different bad words to them like fucking. I am really sorry for this but they did make me to get mad so badly. They did not help me because their customer service is very bad. Even when I asked them for just a simple thing then would tell me to go to ask someone else or they told me that they would call me back. I contacted them on 12 February 2010 and I got their answer in six days. So, how do you like it? Mr. Anastassia and Mr. Lawrence never replied to me ever since 10th of February till now, which is 2th of February 2010. They do not care of their customer at all. The only good person whom I talked to was Mr. Aly bin Qabil which spoke to me very nicely and was trying to solve all the issue. However, I understand that he needs to obey their policy.
    If you do not want to lose your money, do not trade with this broker. They do not care about their customers. All they want is to get your money at all costs.

  5. Franck:

    Very bad customer service. There is no way you can trust those people with your money. They would leave without even notifying you. They would ask you a lot of question without processing your request.
    Generally, what their care about is just getting their high commission. They have tried to even overcharge me!

  6. Artem:

    Very bad service. Either they are liar or unprofessional. Every time I ask them something insignificant, they tell me to contact somebody else or to call their team. They told me that they do not have commissions for CFD transactions. I was wondering about that, so I opened a trade and made some profit, but I ended up with the negative result. So what they did was taking $30 for opening and closing my position. And this is on their opinion “NO COMMISSION. “ It took me $60 just for a single transaction! Can you believe it? I lost $60 and they stopped replying to my emails in which demanded explanations on such a case.

  7. Tim:

    You need to go through Luke and Yasir comments posted below. Can you find the difference?
    This is pretty clear that they are connected with the company.

  8. Matt:

    There is not more chance to trade with ODL for the USA traders. This is what I got on 01-14-2009:

    “Thank you for choosing ODL Securities, Inc. to be your online Forex provider.
    During to the recent careful review on company strategic conducted by our parent company, there was made a decision that we will not accept the USA customers any longer.
    Due to this decision, we have prepared some arrangements in order to return the client their funds it transfer them to LLC (“FXCM”)”

  9. Aaron Cohn:

    ODL recently initiated the war against everyone who traded with EA. All those traders are being chased from using EA. One of the managers working ODL has even accused traders in stealing from ODL with the help of the robot. This broker is not accepting EA. If you make a good trading with the help of EA, they can simply cancel it. They manipulated with the results if they do not like them. I have warned you. If you do not want to lose your money, you should avoid this broker!

  10. yasir:

    I opened my account with them recently. ODL was pretty helpful at the beginning. They explained many things to me very well. They gave me an advice about the pitfalls which I should be careful about, like not to get too high leveraged. There were brokers offering me up to 1:400 leverage, which seemed to be great until I discovered that this could make me out of business in a short period of the time.
    ODL could give me the maximum of 1:100 but they recommend me to start with the low leverage. They also helped me in thinking about my real reasons to trade and what I aimed to achieve. As a result, I have a trading plan prepared now, including all the risks and rewards. Thanks to ODL I am still on the market.

  11. Sean Porter:

    There was the time when I liked ODL. Before you could buy 100 units of pairs which was great to my opinion. But after they somewhat turned to gamblers and forced me to buy $10,000 blocks of currencies pairs. They do not care about small traders. They drove me out and I sent them to this day asking about this. As far as I know not they have “undercapitalization issues.” By the way, every time I tried to call them, I could not make it through the bunch of secretaries that they hold there. This is why sorry, ODL, but I am switching to OANDA. They have respect to small brokers and they are transparent.

  12. luke:

    I opened my account with them recently. ODL was pretty helpful at the beginning. They explained many things to me very well. They gave me an advice about the pitfalls which I should be careful about, like not to get too high leveraged. There were brokers offering me up to 1:400 leverage, which seemed to be great until I discovered that this could make me out of business in a short period of the time.
    ODL could give me the maximum of 1:100 but they recommend me to start with the low leverage. They also helped me in thinking about my real reasons to trade and what I aimed to achieve. As a result, I have a trading plan prepared now, including all the risks and rewards. Thanks to ODL I am still on the market.

  13. Omar Shaikh:

    Chris Hossain is current on trial for insider trading. He used to work for Blue Index where he and the owners are currently facing lengthly prism sentences. Need I say more.

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