Axis ODL - 1 point spread for SPI

mikeg · 14 December 2009

Has anybody used this company for trading yet?

They are a CFD company and one there site it states that the spread for the SPI is only 1 point. The data is live from the SFE and it has market depth.

Here is a link to there site.

http://www.axisodl.com.au/

skc · 14 December 2009

Re: Axis ODL-1 point spread for SPI

mikeg said:
Has anybody used this company for trading yet?

They are a CFD company and one there site it states that the spread for the SPI is only 1 point. The data is live from the SFE and it has market depth.

Here is a link to there site.

http://www.axisodl.com.au/

It's the standard MT4 platform. The 1 point spread is good for short term traders who want smaller position size than a full spi. I found execution a bit slow at times with the occasional requote, so probably not good for fast and furious scalpers. There is no market depth that I can see.

Obviously a smallish outfit so just make sure you are comfortable where your money is before committing serious cash with them.

skyQuake · 14 December 2009

Re: Axis ODL-1 point spread for SPI

skc said:
It's the standard MT4 platform. The 1 point spread is good for short term traders who want smaller position size than a full spi. I found execution a bit slow at times with the occasional requote, so probably not good for fast and furious scalpers. There is no market depth that I can see.

Obviously a smallish outfit so just make sure you are comfortable where your money is before committing serious cash with them.

Tried it. Requotes were plentiful (maybe because it was so thin that day)
IMO not worth the 1pt spread.

WilliamP · 21 December 2009

Is the contract based on the proper SPI futures at $25 per point or can you trade in smaller quantities?

camodeo · 11 March 2010

Re: Axis ODL-1 point spread for SPI

skyQuake said:
Tried it. Requotes were plentiful (maybe because it was so thin that day)
IMO not worth the 1pt spread.

Hi,
We recently upgraded our servers and they are now located in Sydney and Singapore rather than in London - which is why you might have been getting requotes. Our prices mirror the underlying SFE futures market mid-point.
You should download another demo and see the improved order execution for yourself. In regards to the contract sizes, you can trade from $1/point (with 1% margin) and no commissions, or you can choose whatever you like - $5, $11, $50/point, whatever you choose. Our spread stays at 1 tick during market hours and fixed at 6 after market (even if the underlying market may widen beyond 10!)
Hope you guys can reconsider checking us out and see for yourselves the improved server and the scarcity of re-quotes..

Thanks,
AxisODL Trader
Phil Horner

lana11 · 19 May 2010

Re: Axis ODL-1 point spread for SPI

camodeo said:
Hi,
We recently upgraded our servers and they are now located in Sydney and Singapore rather than in London - which is why you might have been getting requotes. Our prices mirror the underlying SFE futures market mid-point.
You should download another demo and see the improved order execution for yourself. In regards to the contract sizes, you can trade from $1/point (with 1% margin) and no commissions, or you can choose whatever you like - $5, $11, $50/point, whatever you choose. Our spread stays at 1 tick during market hours and fixed at 6 after market (even if the underlying market may widen beyond 10!)
Hope you guys can reconsider checking us out and see for yourselves the improved server and the scarcity of re-quotes..

Thanks,
AxisODL Trader
Phil Horner

Hi Phil,
I trade with Axis Odl for a while. Can you kindly explain why the order had been triged by stop loss. I had open SELL position and when the price dropped I decided to put stop loss just in case if the price would rise and I wouldn't keep sell order. I put stop loss 4629, the highest price was 4625. At that time spread was 6 pips and I thought stop loss had to work out when the price would reach 4631 (ask line). I will be very happy if you explain me why I am mistaken, so I wouldn't have any doubts.

Kryzz · 19 May 2010

Never heard of this broker until today, 1 point spread seems to be pretty consistent for the SPI cfd, possible alternative to IG markets for the 1 point spread perhaps (and MT4)

skyQuake · 19 May 2010

Kryzz said:
Never heard of this broker until today, 1 point spread seems to be pretty consistent for the SPI cfd, possible alternative to IG markets for the 1 point spread perhaps (and MT4)

Requotes mate.

IMO IG is actually better.

Alpha_Bet · 19 May 2010

My understanding is ODL is being taken over by FXCM.
As for trading an Index with a MM, do your due diligence.

Kryzz · 19 May 2010

skyQuake said:
Requotes mate.

IMO IG is actually better.

Alpha_Bet said:
My understanding is ODL is being taken over by FXCM.
As for trading an Index with a MM, do your due diligence.

Fair enough, did not think about requotes

No intention of trading with them (or indicies with a MM) , just surprised another broker with a 1 point spread on CFD's

Points taken though

Cheers

garthstar · 10 August 2010

i have seen that '1pt spread' widen over 5pts in overnight trade.

you better not have your stops too tight, just like IG, complete bucketshop.

mine froze for 2 mins at least last fridays NFP.

MM's are all the same, just rubbish, and false promises.

should be all put up against a brick wall and shot.

redart66 · 24 September 2010

I've been 'trying' to trade with AxiTrader for some time now. I like the simplicity of the MT4 platform and the fact you can customize your own orders via Scripts. However,.....the reliability of their data feed is a BIG issue. I have contacted them several times about this and have been assured it's "getting fixed soon", or words to that effect. This morning the feed went out again, this time from 10:00 until 10:10. On average it seems to go out at least once a week, and usually right at or soon after the open. Very poor.

I trade the SPI CFD contract almost exclusively. Are there any (better) alternatives for trading this and using MT4 ?.

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