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ODL Markets
 

Updated: February 2009

Min. Deposit: 300

Founded: founded in 1994 as an Options House, ODL Securities

Platforms: Metatrader 4

Regulation: ODL Securities Inc. is registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).

Customer Support: Standard support

The Good: They offer MT4 trading platform, low spreads

The Bad: Winners are not welcome here, they banned 140 fapturbo traders recently.

 
 

I cant call this broker a scam because they are a legal company and CFTC and NFA regulated however everything I heard about them recently is only bad.

Recently the most shocking news was they banned over 140 fapturbo traders that made consistent profits for several weeks. Here is what victim-members report:
"This morning I received the following email:
Good Morning.
Unfortunately ODL Securities has decided not to allow the FapTurbo Expert Advisor Program. ODL has notified us here at Back Bay FX that those of you on this e-mail have had your accounts suspended at ODL Securities.


Here is what members received:

It is with great regret that I am writing this email to you today. After several discussions with our risk department and line managers, it is felt that your account should be closed and the balances repaid in full. This recourse has been brought about as a result of unethical trading within your account of late; maliciously or not, with the use of a Robot/EA or not, these actions are unethical and go against the policies of ODL.
I hope this will satisfy any queries you may have about this recent suspension of your account and I wish you the best of luck with your future trading. "

So winning money is called "unethical trading" here. lol. while all other brokers find fapturbo trading fine and welcome fapturbo clients.

The bottom line: Be aware that some brokers do NOT want you making regular profits.

My Investigation Chat with ODL
I tried to contact ODL directly to find out the reasons and get explanation from first hands however could not receive any reasonable reply here.

DavidT: Welcome to Live Help, how are you today?
DavidT: hi how can i help?
Mark: Hello. I am interested in ODL service however I heard you do not allow winning scalping strategies, for example you banned all fapturbo clients. Could you explain? Mark: are you here?
DavidT: yes
DavidT: yes fap turbo breaches our terms and conditions relevant to market abuse and the use of ficticiuous devices
Mark: however I trade fapturbo and other systems without any problem at 8 other brokers and they have no problem. Could you explain the difference.
Adil Siddiqui has joined the conversation.
AdilS: hi
Mark: hi
Mark: however I trade fapturbo and other systems without any problem at 8 other brokers and they have no problem. Could you explain the difference.
AdilS: hi
Mark: yes, hello Adil. do you see my question? looks like i had disconnection issue
AdilS: hi
Mark: Quesiton to DavidT - why do you call Expert Advisor trading a "fictitious device"? That does not make any sense to me. Do you mean ODL does not allow automated trading?
Mark: are u here?
Mark: ?
Mark: is that live chat or dead chat? guys?
Mark: looks like no one is going to anwser here..