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Odin Forex Robot is yet another software offering automated Forex trading services. The company offering this robot are presenting it as the Forex robot that is dominating charts everywhere. They are saying the robot is unrivaled in the market. Further, they are boasting that the robot has brutal accuracy.
The company claims that this robot is suitable for all ranges of traders. They are saying you do not require any trading experience to use the software. However, they fail to provide any user guide or tutorials to help novice users.
These are the pros of dealing with a regulated forex trading robot enjoying the backing of experts and the trading community
These robots offer high performance and meet the set trader’s targets more often than one would think.
The robots usually hit over 86% ROI with consistent trading over a yearlong trading period. That goes to show they perform exceptionally well.
Traders are looking for forex robots that are efficient and durable in every sense of the word. And that’s where forex trading robots come into play. Get your hands on these robots today
You need to get support from traders which means your chance of trading with the help of experts is there.
24/7 support is one of the reasons that made investors sign up and traders prefer the listed forex robots over others.
Robots give traders a chance to place trade on more complex and sophisticated trades that otherwise would be a problem for manual traders. Complex trading also ensures traders get a lion’s share of the profit margins.
No matter the class of trader, anyone can use these trades and hence offer the best in terms of authenticity. These are bots with an easy to use interface and standard educational materials and tutorials.
Traders have the chance to build custom robots that fit their preferred trading styles and suits their markets. And this gives traders more power in what aspects of the robots can act and information retrieved.
With a well-defined trading plan, robots can stick to these plans and ensure no one gets in the way. And this offers traders a chance to be more disciplined in their trading activities. Sticking to a plan is the route to success.
The creators want you to believe that Odin is the number 1 choice of professional traders. Allegedly, the robot will automatically earn you guaranteed daily profits. They are further saying the robot has earned over $170,000 in the last 30 days. Moreover, they claim the robot has made $1,182,494 in profits so far this year.
These are very bold claims. It is doubtful that the software is maintaining such high profits. We would have to see verifiable trading results to believe this.
Either way, this company has many loopholes it needs to address. As they stand, they are not trustworthy or recommendable. We recommend that you stick to the top Forex trading robots that have proven to work for a long time.
Odin Forex Robot Review
Odin Forex Robot is an automated Forex trading system. The software works with all major currency pairs, including USDSGD, EURCAD, NZDJPY, EURCHF, NZDCHF, EURUSD, GBPCAD, EURAUD, EURNZD, USDCHF, and AUDCHF. However, the developers do not recommend the best trading timeframe.
The developers claim that the software allows you to trade in just 5 minutes. Additionally, they say the software is always monitoring the market 24/5 so that traders never miss a trade opportunity.
Moreover, the robot makes sure you don’t have to learn complex trading strategies. All the grid trading rules are coded directly into Odin. There is no need to study charts or crunch numbers.
Therefore, even novice traders can use the software.
Currently, the robot is reporting over 15,000 pips earned per month. However, this is highly unlikely. We suspect this is just a marketing strategy. Many companies promise high returns to attract eager investors onto their platform.
Do not fall for such promises. When the trade appears too good to be true, it probably is. Always ensure you invest with companies that have verifiable trading results.
The creator of the bot, Don Steinitz, has recently passed away, and it is unclear who is currently running the company.
Pricing and Features
The cost of the Odin bot is $199. However, the company is offering the robot at 35% off for a limited time, and this looks like a frantic attempt to get more customers on to buy the robot. They create a sense of urgency so that you rush into purchasing the robot.
Always ensure you do thorough research before purchasing a Forex robot. Take your time to assess whether the robot can deliver what is promised. Moreover, ensure that the robot is the best fit for your portfolio.
The company claims that the software is ideal because of the various features it provides. For starters, the software enables automated trading from start to finish. The robot will open, manage, and close the best trades for traders.
Additionally, the company claims that the software comes loaded with optimized settings for over 20 common Forex pairs. Further, they say the software is simple to set up and use.
The other important feature of this Forex robot is the broker shield. The company claims this helps in keeping shady brokers from trading against you.
The robot also contains a clean and informative user interface. This makes it manageable to keep track of what the software is doing at any point.
Trading Strategy
The creators of Odin claim that the robot uses a reliable grid system. Additionally, they are saying the robot scans the market for the perfect entry and exit points. It does this by plotting small price movements against a grid.
This then reveals predictable patterns. Odin then takes these habits and analyzes them for future probability. The finals result is highly accurate trades with no indicator lag.
We appreciate the attempt to explain their trading strategy. However, this description is very vague and does not offer much insight into the trading strategy.
Moreover, grid trading is not the most reliable strategy. Many robots using this strategy ted to open too many trades at once. This causes a huge problem in case things go wrong. It could destroy the entire trader’s account.
The company does not explain how they plan to avoid the common mistakes of grid trading. Under these conditions, it is hard to have peace of mind while using this robot.
The only thing they say is that the robot features accurate stop loss and take profit. However, even with the tightest stop losses and take profits, it is hard to see how this solves the problem.
Trading Results
He creators of Odin Forex Robot have provided several statements showing their trading results. The results are awe-inspiring and show gains from month to month. However, the trading community has accused the company of providing fake products.
That is the problem of most modes of presentation of trading results. You cannot trust that the results are real. A company can easily adjust its trading results to favor its image.
Therefore, the company needs to choose a better mode of presenting its performance record. The only reliable way to do this is through a third-party platform like Myfxbook or FX Blue. Until they do so, we cannot trust their product.
Customer Reviews
This Forex robot has received an abysmal rating on Forex Peace Army. Most of the customers are complaining that the robot did not deliver the results that the company is advertising. In fact, most of the customers are saying the robot has lost them much money. The result is a low 2.2-star rating out of 5 on Forex Peace Army.
There is no more excellent way to tell whether a product s legit than listening to people who have used it. The client base is disappointed with the performance of the robot. The only wise thing to do is to stay away from this product. Enough people have already lost money to this poorly crafted software. Do not be one of them.
Final Verdict
We cannot, in our right minds, recommend this Forex robot to you. It is jam-packed with red flags. The firm showcases a lack of transparency only seen with fake companies. They fail to say who is currently running the company.
Additionally, they are promising unrealistically high profits but fail to provide a verifiable track record. That means we cannot trust them. Moreover, clients have complained that the robot does not produce the results advertised.
The market is filled with such companies. They are not concerned with customer satisfaction but are only after your money. Still, there are legitimate Forex solutions that will offer you better services.
Invest only in the best Forex trading robots that have proven to work for a long time. Only such companies can deliver on what they promise.
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I didnt pay attention to the bad reviews about Odin because I was happy with a free robot they give out on their website. It turned out to be a free robot being worked on elsewhere. Odin is a terrible choice. It loses money all the time. If there is a setting to make it work, Custome service wont tell you other than just use the default option, which doesnt work either.
When i complained, they recommended me to buy another Ea from them to make Odin work. When I complained, they blocked me from sending the further emails.
I also tried their Volatility Channel, which doesnt work either.
Same thing.100% loss and when we informed that.they finally blocked our mails as well
Forex Robot Trader (FRT) company is shut down and therefore, please don’t waste your money and purchase any of their useless and fake EAs which will only blow your accounts no matter what settings you use. They were a scam from the start. I had purchased their Odin EA in 2020 and initially I had requested them for set files for gold. And I was so surprised by their response when they told me that all pre sets have been already pre installed into the EA for different pairs and therefore, there is no need for set files. Now, how in the world can you set parameters within Meta Editor for different pairs? I personally haven’t seen any option like that, as we need to manually change parameters for different pairs manually within the EA. These guys were total scam artists from the beginning. Just shocking!