Odin Forex Robot Review: Things to Consider Before Investing

Odin Forex Robot

It is alleged that Odin Forex Robot is the number one choice of professional traders utilizing EAs in 2021. The system is automated from start to finish and comes loaded with optimized settings for more than 20 common Forex pairs. 

Forex Robot Trader is the company behind this Forex system. Apart from Odin, this vendor has also developed other robots like Ganon, Reaper, Falcor, HAS, Directional, and many more. FRT has been in this market since 2006. 

The highlights of Odin Forex Robot

We have described below some features, which according to the vendor, makes Odin unique:

Broker shield

This keeps sensitive information away from your broker to prevent them from using such data against you. 

Works with any account size, big or small

This means that the robot supports micro, mini, and full lots. A built-in money management feature is also integrated to compute the safest lot size for you automatically. 

Clean and informative visual interface

The EA has a modern user-friendly interface that lets you see exactly what it is doing at any point in time. 

Trading strategy of Odin Forex Robot

Odin uses the grid trading strategy. The vendor explains that plotting every movement against a grid discloses predictable patterns. The robot takes these patterns and assesses them to ascertain how the market will likely behave in the future. Apparently, the outcome is highly precise trades with no indicator lag. Odin also includes SL and TP features that protect the balance and secure the profits while minimizing risk per trade.  

Backtesting reports

The devs do not feature backtest reports in the presentation. Backtesting is vital because it tests out the efficiency of a strategy by applying it to historical market data. Fundamentally, if the test works and simulation leads to a payout, then traders may confidently use the algorithm in the real market. If the simulation causes substantial losses, it may be a sign that the strategy might be unsuccessful in actual trading as well. 

Trading results in real time

Even though live trading results are available for our scrutiny, we are afraid that they are unverified. It is common practice for vendors who are selling Forex robots to test their algorithms on independent verification sites like FXBlue, FXStat, or Myfxbook. This usually serves to ensure that the data presented is real and has not been manipulated by the vendor. 

Live trading results
Live trading results

These are supposedly the trading results showcasing the performance of Odin in the live market in December 2021. The devs want us to believe that the EA has made $39,986.60 in less than two weeks. This is not feasible. The huge profit factor of 20.97 also portrays Odin as a very profitable tool. Also, the more than 90% win rates for short and long positions send a similar message. To date, the total number of trades implemented is 284, a sign that the robot opens many orders in a day. 

Odin Forex Robot price

The current retail price of Odin is $99. It was previously sold at $199. A refund policy is not included in this package. 

Odin’s price
Odin’s price

Customer support

If you have a sales question or need any other kind of support, you are asked to send the team a message through email. Alternatively, you can view the website’s online support center, which provides helpful guides and other useful resources. 

Are traders happy with Odin Forex Robot?

No, they aren’t. They claim that they have had a horrible experience with this EA. Apparently, Odin loses all the time, and one trader admits that the system actually blew up his account. There are also concerns that the EA does not work with most brokers, and its SL feature doesn’t function as claimed. 

Customer reviews
Customer reviews

Odin Forex Robot

Odin Forex Robot
3 5 0 1
Odin is affordable and hence can be easily acquired by traders who desire to venture into automated trading. The system also features a broker shield, which means that you will be protected from exploitation. Even then, the tool applies the grid strategy, which is infamous for trading dangerously and causing margin calls on accounts. Customer reviews confirm that the robot can indeed wipe out accounts. Furthermore, the SL protection system seems not to work.
Odin is affordable and hence can be easily acquired by traders who desire to venture into automated trading. The system also features a broker shield, which means that you will be protected from exploitation. Even then, the tool applies the grid strategy, which is infamous for trading dangerously and causing margin calls on accounts. Customer reviews confirm that the robot can indeed wipe out accounts. Furthermore, the SL protection system seems not to work.
3/5
Total Score
  • Profitability
    2/5 Bad
  • Strategy
    2/5 Bad
  • Reliability
    3/5 Neutral
  • Price
    5/5 Amazing
  • Customer testimonials
    2/5 Bad

Advantages

  • Affordable pricing
  • Offers a broker shield

Disadvantages

  • Negative feedback from traders
  • Live trading results are not verified
  • Backtest results are missing
  • Uses a risky trading approach
Total
0
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