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A blog by TradingMetro founder, Samuel Araki

ODL Securities Pulls Out of the USA

January 15, 2009 at 2:50 am • Posted in pipstop

forex trading, fx trading, cfd trading, equties trading with ODL SecuritiesIn a disappointing turn of events, ODL Securities has decided to pull out of the United States market.

What’s even more disappointing is that ODL Securities was one of the newer brokerage relationships of Trading Post Brokerage Services. I guess punctuating things is that there was no communication from ODL Securities to us on this news.

The only confirmation to me came via Ross Newell of ODL’s London Office, who stated:

we have closed the USA operation due to rules and regulations about to release
by the NFA.  However we can still take business in Canada no problem.

you will find a lot of brokers will stop operating in the US if they are not based there due to extraordinary Capital adequecy rules.  We have taken the decision to increase capital in the UK and do more business here.  The company structure is still regarded as healthy.

Another casualty of the ever shrinking brokerage landscape in the United States as brokers become required to increase their adjusted net capital.

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