Not so ideal in my opinion. We put the deep fryer on the balcony. But we have already done that with the previous fryers. I think you can always smell it, no matter what kind of filter is in it. But the appliance makes the best fries we've ever had. That's why I would buy it again and again.
This is not an odour filter, it is only to prevent splashes. From my own experience with this model, I can say: never use it in the kitchen. Not even under the extractor fan. Terrace or balcony are ideal.