OD Markets পর্যালোচনা

On-line since: 2016
Country of origin: New Zealand
Regulation: Financial Markets Authority (FMA)
Payment options: wire transfer, electronic payment systems: Skrill, Neteller, Paypal
Minimum account size: $100
Minimum lot size: 0.01
Leverage: 1:500
Spreads: fixed, variable from 0 pip

About the company:

OD Markets was founded in 2016. It is a legalized brand of OD Markets Ltd in the register of financial service providers in New Zealand. The company is regulated by the financial markets Authority (FMA). OD Markets offers its clients more than 100 trading instruments (Forex, gold, binary options, CFD, raw materials). Customers are provided with only one type of account with a leverage of 1:500. MAM and PAMM accounts are also available.

OD Markets does not work with clients from New Zealand.

The company is an official sponsor of the OD Racing Team.

Security of funds

In New Zealand, financial regulation is not as strict as in the European Union. However, forex brokers must comply with certain rules relating to financial reports. It does not guarantee the security of accounts, though. According to the Forex Peace Army forum, OD Markets was convicted by the FPA Traders Court for a deliberate blocking of the most successful traders' accounts.

Trading conditions

Minimum deposit

The minimum deposit for an OD Markets account is $100, which is an average sum for the forex market. Nonetheless, some large brokerage firms, also licensed in New Zealand, do not set minimum deposit requirements.

Spreads and commissions

On its website, OD Markets claims to offer variable spreads averaging 0.4 pips on the EUR/USD pair which seems to be quite a good offer. However, when working on the MT4 demo platform, the spread for this pair fluctuate between 1.7–1.8 pips.

The company charges a commission of $30 per standard lot for the EUR/USD pair.

Leverage

The maximum level of leverage provided by OD Markets is 1:500. Nevertheless, this information is inaccurate, since different pages of the website contain various information on the company's leverage (1:500, 1:200).

Trading platform

OD Markets offers its customers the standard MetaTrader4 platform. Mobile version of the platform is also available. MT4 provides plenty of tools and functions which are necessary for a trader: a number of technical indicators, an extended charting package, and a wide range of expert advisors (EAs).

Bonuses

Customers are offered a welcome 20% bonus of the deposit. In addition, the site provides information about the drawing of the car, which ended in 2015. Curiously enough, an invitation to participate in the draw is still available.

Payment options

OD Markets clients are proposed with the following methods of payment: wire transfer, credit card or local wire transfers in China. Withdrawal requests are subject to a fee depending on the amount requested.

Feedbacks from traders

There are a lot of different feedbacks about this broker on the Internet. Among the negative ones, traders highlight high commissions and the blocking of successful investors' trading accounts. Despite the FMA regulation, the reputation of OD Markets is not spotless.

Moreover, the site does not contain information on the real size of spreads and commissions.

Advantages:

• regulated in New Zealand
• MT4
• provision of training

Disadvantages:

• rather high commissions
• conviction from the FPA Traders Court
• lack of trading conditions transparency