Funding your trading account
In a currency that's right for you
We aim to make funding your account as convenient as possible for you, in the currency that's right for you.
- Fund in your choice of currency
- Fund by credit/debit card, check, or bank transfer
You need to fund your account to a minimum of $2000 (or currency equivalent) to open it. You do not need to maintain this as a minimum balance, but enough to satisfy margin requirements.
For convenience, you can fund your account in a wide range of currencies including: USD, Yen, GBP, Euro, Canadian dollar, Australian dollar, Danish Krona, Swedish Krona, Swiss Franc, Japanese Yen.
The currency you choose to fund your account can be converted to alternative currencies if you wish. Please speak to the relevant dealing desk.
You are able to transfer money between multiple accounts to satisfy margin requirements in certain circumstances.
How to fund your account - You have 3 different options
1. Funding using Debit and Credit Cards
We accept Visa Delta, Solo and Switch cards.
Debit/credit card – you can fund your account by debit or credit card. In order to do this, please login to the secure client site on the ODL website using your user name and password and click on the “Fund your account” option, this will then allow you to submit your card details and an amount to be deposited, if the transaction is successful you will have an immediate credit on your account. Please refer to the information on the “Fund your account” terms and conditions for accepted currencies and charges.
If you would prefer to phone to deposit funds, please call the Treasury desk on - 0044 (0) 207 903 6252 - they will be able to assist with your request.
Alternatively, please download, print and complete the Setup Direct Debit Form
Please be aware of the following:
Direct debits can only be collected in sterling from UK clearing banks.
When returning the mandate, please stipulate the following details under separate cover:
• Amount to be collected (max £50,000)
• Date of collection, this will be the 5th, 15th or the 25th of each month (or nearest business day)
• Frequency of collection, for example every month, every 2 months up to a maximum of every 12 months
Please allow 10 days for the processing of your application before the first nominated collection.
To terminate your direct debit you will need to send written confirmation to your bank or email treasury@odls.com
2. Funding by Cheque
Cheque should be made payable to ODL Securities Ltd and delivered to our office. Please send cheques to the address:
Treasury Department
ODL Securities Ltd
The Northern & Shell Building
10 Lower Thames Street
London
EC3R 6AD
United Kingdom
Please note that checks will go through the normal bank clearing system, so may take 6 days to clear.
3. Electronic Bank Transfers
You can request your bank to transfer funds directly to the ODL bank account. You will find full banking details for ODL Securities Ltd via this link.
If you decide to make a deposit using this method please ensure that your bank quotes both your full name and ODL account code - this will help us to identify your payment once it reaches our account
Please note that your bank may charge you to make a payment by electronic means and the date of delivery of the funds to the ODL account is at the discretion of your bank.
You will need to inform your bank or building society of our bank details
Important note with regard to funding
Under no circumstances can ODL Securities does not accept cash deposits. Such deposits are strictly prohibited under Money Laundering regulations by our regulators.
ODL can only accept funds from a source that is in the same name as the account that is held at ODL Securities Inc. Third party receipts are prohibited.
