ODL Securities Forex Broker

Company ODL Securities (Acquired by FXCM)
Founded in
Online since
Offices in Australia, Chile, France, Germany, Greece, Hong Kong, Israel, Italy, Japan, Lebanon, United Arab Emirates, United Kingdom, United States
Payment options Check, credit cards, debit cards and wire transfer
Demo Platforms     MetaTrader 4 (Limited with 30 days),     Trading Station II (Limited with 30 days),

MirrorTrader (Limited with 30 days),

Active Trader (Limited with 30 days)

Account currencies Australian dollar, Canadian dollar, Euro,

Great Britain pound, Japanese yen, New Zealand dollar, United States dollar

Currency pairs AUD/CAD  AUD/CHF  AUD/JPY











Regulated by ASIC, CFTC/NFA, CONSOB, FSA in UK, SFC and FSA in Japan
US Traders welcome? Yes
Support methods Live chat, phone, email
Account Types (micro standard executive islamic) Standard
Minimum account size $2,000
Minimum position size 0.01 lot
Spread type Fixed
Minimum spread on EUR/USD, pips 2.5
Scalping Allowed
Expert advisors Allowed
Trading platforms Meta Trader 4, Trading Station, Mirror Trader, Active Trader
Digits after the dot in quotes 5
Number of currency pairs 56
Free education Yes
Segregated accounts Yes
Islamic accounts available Yes
Overnight interest rates (swaps) Yes
Trailing stop Yes
Pending orders Yes
One-click trading Yes
Mobile trading Yes
Browser-based platform Yes
Automated trading Yes

fxcmODL Securities has now been acquired by FXCM. The company had its office in 125 South Wacker Drive, Suite 300, Chicago IL, 60606, United States. The company was well regulated in UK by FSA, CFTC and NFA in USA and by FSA is Japan. Since it is now acquired by FXCM it would be regulated by ASIC, CONSOB (Italy) and SFC (Hong Kong) as well. They allow traders from United States to trade from their account. They have a multilingual website which was easy to navigate and very informative. Since it has been acquired by FXCM, now they have their offices in 13 countries and the payment can be made using check, credit cards, debit cards and wire transfer. They offer 7 currencies to their traders to have in their accounts. Their website is also multilingual and the customer support service is available in 11 languages. The service is of world class and they are very supportive, courteous and well trained to resolve any trade related issues. The support staffs can be reached via phone, email and live chat.

Demo account is also made available to the clients and it involves Meta Trader 4, Trading station II, mirror trader and active traders as the trading platform and all are limited to use for 30 days. The same platform is given when you start trading live. Scalping and hedging is allowed to the traders to maximize their profits. Trading is also allowed in gold and silver, CFD, oil and stocks along with forex and all has a leverage of 1:50. They offer 56 currency pairs to trade in which includes all the major pairs. They only offer one type of account that is Standard account. The minimum amount required to open an account with them is $2000 and the minimum position size is 0.01 lots.

Before the internet it was difficult to find out the information about the companies and going and finding about it was a tedious task. However, the reviews posted online by various users gives an insight into the quality of service provided by the company to its clients. The reviews posted for ODL securities are pretty good and they have been lauded in most of them for their excellent trading platform which is easy to understand and helps in fast execution of the trade. They allow US trader to trade with them is also a feature liked by many. They are well regulated in many companies which is liked by many as it gives them the much needed confidence in the company. A few of the cons is that they have very limited payment methods and that lack of PayPal as one of the methods is mentioned in some of the reviews. The minimum deposit required to open an account with them is staggeringly high and is a matter of concern for small traders. However, the overall review is good and the average rating given to the company by its users is 5.4 out of 10.

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