OD Markets Trading Rules and Regulations

ODM Trading Rules and Regulations

ODM’s Trading Rules and Regulations combined with the ODM Risk Disclosure Statement, Additional Risk Disclosure Statement and all other account documents, annexes and amendments thereto will outline procedures and policies regarding trading and setting up an account with ODM and form an integral part of the Customer Agreement. All Customers are required to read, understand and adhere to these rules and regulations. ODM reserves the right to change any rules or regulations at its sole discretion and at any time and any such changes automatically become part of the terms and conditions of the Trading Rules and Regulations with which all Customers must comply. Customers may or may not receive notice of such changes but such changes will be posted on ODM’s website. By opening an account with ODM, the Customer agrees to adhere to ODM’s Trading Rules and Regulations as amended from time to time.

Trading Hours
·       The ODM normal trading week begins at 17:00 (5:00 PM EST) on Sunday and ends at 16:00 (4:00 PM EST) on Friday (times are subject to change).
·       ODM will announce and display on a best efforts basis a holiday schedule on the www.odmarkets.com website when dealing will not take place.
·        In the event of a holiday, ODM will pre-announce the start-up time when trading will resume in advance and display the information on the www.odmarkets.com website.
·       ODM reserves the right at its sole discretion to conduct special technical maintenance, during which time, trading electronically may not be available.

Deposit and Account Information
·       Deposits can be made via wire transfer. Funds are not available for trading until they are cleared funds and posted to the Customer’s trading account (login to member page for wire transfer information)
·       All bank fees such as wire transfer fees into and out of the Account will be debited to the Customer’s trading account as they occur. In instances where the Customer is closing an account with instructions to wire the remaining balances, the wire transfer fee will be deducted from the Final Account Balance forwarded to the Customer.
·       All deposits are accepted in U.S. Dollars only. Customers from outside the U.S have the option to:
1.     Convert the Foreign Currency into US Dollars before wiring funds to the ODM clearing bank, or
2.     Wire foreign currencies to our clearing bank at which point our clearing bank will convert the balances into US Dollars at their current conversion rate for that currency.
·       A minimum deposit of $100, or such other amount as ODM shall agree to, is required to open a standard account with ODM. For mini accounts, the minimum deposit is $500, or such other amount as ODM shall agree to. ODM requires additional deposits into mini accounts to be greater than $150, or such other amount as ODM shall agree to.
·       Before any payment from an account is made, the Customer is required to fax, or e-mail an ODM Funds Redemption Form to info@odmarkets.com or mail the completed form to:

New Zealand

Hong Kong

Funds Redemption Department
OD Markets Ltd.
41, Shortland Street, Plaza Level, Auckland, 1010 New Zealand
Phone: +64 9 282 3134
Fax: +64 9 363 9700

Funds Redemption Department
OD Markets Ltd.
Millennium City 1,
388 Kwun Tong Road, Kwun Tong,
Kowloon, Hong Kong.
Phone: +852 2824 8530;
Fax: +852 3972 2211

Faxes should be sent and accompanied with a Cover Page that includes the following:
Attention: ODM Funds Redemption Department

·       Under NO CIRCUMSTANCES will ODM accept a payment or deposit into an account by a person or entity other than the person or entity whose name appears on the account unless ODM’s compliance department has specifically approved the deposit.
·        Under NO CIRCUMSTANCES will ODM make payment to a person or entity other than the person or entity whose name appears on the Account unless ODM’s compliance department has specifically approved the payment.
·       Under NO CIRCUMSTANCES will ODM transfer funds from one account with ODM to another account at ODM with different. Account Authorization information unless ODM’s compliance department has specifically approved the transfer.

Telephone Orders
ODM will have qualified staff that can execute Customers orders over the telephone. Telephone execution is intended only for those circumstances when trading via the ODM Internet Trading Platform is not available due to technical problems or in situations when the Customer has no other connectivity option.
The ODM Trade Execution desk can be reached by calling +64 9 282 3134 or (+852) 2824 8530.

The following steps should be used to transact via the telephone:
1.     The ODM representative will ask for the Customer’s User Name and Account Number from the Customer and confirm that the each match and confirm the identity of the Customer.
2.     Once confirmed, the ODM will ask for the Customer’s Order. (i.e. “What is your Order?”)
3.     The Customer should provide the desired Order Type, Deal Action, Number of Lots, Currency Pair and Price (if not a Market Order). For example:
a)      “Market Order to Buy 5 lots of EUR/USD” (NOTE: “at the market” is implied with Market Orders)
b)      “Stop Loss Order to Sell 1 lot of USD/JPY at 118.00”
If the Customer asks for a market price and the ODM representative quotes a price, the customer acknowledges that the price as quoted is purely indicative. The actual price the customer deals at may or may not equal that price.
4.     For the best and quickest results, ODM requires that the Customer speak in English and to wait for ODM Customer authorization before giving the order details.
5.      The ODM will repeat the order details or ask for the Customer to repeat the order if there was a problem with the original communication. For example, the ODM representative may say, “We will buy 5 lots of EUR/USD at the Market”. If the details are correct, respond “Agreed.”
6.     After the order is executed, the ODM representative will indicate that the deal was “Done” and relay the deal details back to the Customer including the deal price, the amount the currency pair and the Deal ID.
7.     The ODM representative will ask for Acceptance by the Customer. Again the Customer should respond “Agreed” to acknowledge the details.
8.      The ODM representative will enter the details into the Account for the Customer. It is the Customer’s obligation to confirm that the deal was entered and properly reported in the Account upon the next subsequent log-in.
9.     ODM dealers have discretion to refuse to take orders other than Market orders if conditions require.

Trade Disputes
In the event of a trade dispute, it is the responsibility of the customer to contact an ODM representative in a timely manner via e-mail (support@odmarkets.com). The Customer should specify the deal ID or deal number, the specific dispute with the trade and any other information relating to the deal in question.

Upon knowledge of the details of the dispute, an ODM representative will analyze the deal and price logs and respond directly to the client. Because of the nature of the FX market, ODM cannot settle disputes that are not brought to the attention of ODM representatives in a timely manner.

For example, should a Customer knowingly delay reporting a trade dispute in an attempt to benefit from a “free option” as a result of the problem, the client would be considered responsible for the transaction. In addition, disputes submitted after additional deals have been done in the Account, may subject the Customer to waiving his right to partial or full restitution.

System Manipulation
It is expressly prohibited to directly or indirectly use any device, software or other artifice to manipulate or attempt to manipulate the functioning of any electronic system, data feed, software, connection speed or other interface, device or software of any type or kind made available to you by ODM in connection with trading on any trading platform made available by ODM.

Such prohibition extends to, but is not limited to, efforts to buy at the bid, sell at the offer, or otherwise trade on off market prices by taking any action, directly or indirectly, that interferes with, jeopardizes, compromises, slows down, accelerates, impedes or interrupts the normal operation of any ODM operational and/or dealing activity, system, platform or pricing function. Should ODM determine, in its sole judgment, that a prohibited activity has taken place, ODM reserves the right to close the account, report the activity and withhold gains created as a result of the prohibited activities.