Odin Forex Robot Review Is forexrobottrader.com Legit

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Odin Forex Robot Review: Is The Automated Trader Legit Or Scam?

The Odin Forex Robot introduces their forex robot system as the “unrivaled expert trading advisor with brutal trading accuracy.” It goes on to list the astronomical profit figures they claim to have achieved with the robot trader in the last 30 days and ‘so far this year.’ This spikes off the first red flag not just because of their incredibly high numbers but because they have little evidence to back the results.

A quick search online reveals that Odin Forex Robot trading system is distributed and maintained by ForexRobotTrader.com that is in turn owned and operated by Don Steinitz. Apart from Odin forex robot, Don is also the developer of the equally controversial products. Yet they all have the same characteristics and key among them is the promise of huge profits from small initial investments.

  • Vader Forex Robot
  • Falcor Forex Robot
  • Ganon Forex Robot
  • Hedge Forex Robot
  • Directional Forex Robot
  • WaveRunner Forex Robot
  • Reaper Forex Robot
  • HAS Forex Robot
  • Pterodactyl Forex Robot
  • Volatility Forex Robot
  • Free Forex Robot
  • Fractal Breakout Indicator

What is the trading strategy used by Odin forex robot

According to the Odin Forex Robot website, their system embraces the Grid trading system that they claim plots charts in real time to identify trends that it then uses to “enter and close trades with no lag time.” The process is fully automated which then makes the Don Steinitz algorithmic trader deployable for all traders regardless of their skill as they don’t have to “lift a finger.”

From an experienced trader’s point of view, the explanation of this strategy is just meant to lure in traders. It glosses over all the important details that help an experienced trader determine whether robot trader is worth investing in or not. For instance, it doesn’t mention whether the strategy allows for the implementation of stop-loss or any other risk management protocol aimed at protecting the trader’s investments. It also doesn’t mention the number of trades the system can open during a trading session.

Reasons you should be cautious when dealing with Odin forex robot

No backtests

Backtests remain one of the most effective methods of helping prospective traders understand the inner working of the trading robot they hope to acquire. In an ideal situation, you would expect these backtesting results to include such factors as settings; tick data variation, stop loss levels, time frames, and amounts invested as well as the duration of the backtest. But Odin Forex Robot provides none of that.

Independent reviewers that have purchased and tested the system have nonetheless flocked such reputable trading robot review sites as forexpeacearmy.com, expressing their disappointment with the system. The chief concern in the unreliability of Odin’s default settings that don’t live up to the expectation peddled on their website.

Suspicious and unverifiable live trading results

Independent trading review sites like Myfxbook and FxBlue give trading system developers a chance to host the verified trading history of their automated systems on their platforms. Odin Forex robot developers, however, decide to forego either of the platforms and link the results of their live trading accounts toa suspicious and unverifiable trading history profile.

This isn’t the first time ForexBrokerrobot.com is foregoing the independent and reputable trading history providers and hosting their forex robot’s trading history on unverified third-party websites. It is a trend as none of their forex trading robot has its history on an independently verifiable history tracking platform. This shoots up as yet another red flag that makes trader think hard about the trading robot provider’s transparency.

History of running scams

Forexrobottrader.com, the brand behind the popularization and distribution of Odin Forex Broker among other automated trading software, is marred with controversy. They also have a history of running scams with most of the trading robots they allegedly provide being flagged off by a majority of the trading community as highly unreliable and scam.

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While the history alone is not enough to qualify Odin as yet another scam project, the fact that it follows in the footsteps of all its predecessors from risky trading strategies and unverifiable trading information does.

Negative user reviews

We agree that there may be a host of reasons why a disappointed trader may leave a negative review on a forex broker’s website. But a load of them, all from verified traders that have interacted with the system, addressing such common issues as poor performance, poor support, and poorly researched deposit settings, cannot be wrong.

Checking up on Forexpeacearmy.com, there are hundreds of negative reviews from verified traders directed at Odin and its Forexrobottrader.com developer as well as the other trading robots that the developer gives out for Free as an added bonus for every purchase.

PAMM forex accounts management has also evolved into one of the ways traders use to test the effectiveness of trading robots, as well as trading signal service providers. Before PAMM investors deposit into accounts they demand access to a trading system’s actual trading history and vet every possible threat to their often huge investments.

But the net reward from maintaining these accounts is worth the close scrutiny. It is, therefore, suspicious that Odin Forex Robot would forego the lure of guaranteed profits made from maintaining PAMM accounts only to sell their system that “beats the market” for $199.

No money back guarantee

Legit Forex trading system developers, confident about their systems, give their clients enough time to test their trading robots. They provide a free trading period, allow for the use of demo accounts or opt for the more popular money back guarantee strategy. Odin Forex robot offers none of these, neither does it promise to give back your invested amounts should their system lose you money or perform dismally.

Odin Forex Robot Review: Is forexrobottrader.com Legit?

Odin Forex Robot Review: this is a Forex robot or Expert Advisor developed by the Forex Robot Trader team. Is Odin Forex Robot legit or a scam?

Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.

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Traders are provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs are sold by indicator vendors.

The Odin Forex Robot is a product of one of the top forex robot vendors in the market, the Forex Robot Trader. This robot runs on the popular MetaTrader 4 platform and they claim it is fully automated.

This robot is said to be suitable for traders of all levels of experience and comes with easy to follow setup instructions. It is called “an unrivaled expert advisor with brutal trading accuracy” on the website.

How Odin Forex Robot Works

It is said that the robot uses an advanced grid trading strategy to look for good forex trades automatically. Since it is fully automated, it opens, manages, and closes the best traders for clients. They say traders do not need to do anything.

Odin Forex Robot plots chart price in real time, according to the vendors, and this enables it to find the best entry and exit points without lag.

Because of the numerous shady brokers, this robot is said to have a “Real Time Broker Shield” that guards trade information and prevent these brokers from trading against clients.

There are optimized settings that has over 20 common forex pairs, packaged in it. The graphs plotted by this robot are from small movements inside of charts caused by “every price movement”. This plot helps the robot predict patterns which is then analyzed for future probability.

An accurate “Stop Loss and Take Profit” mechanism helps protect clients’ balance and secure profit while minimizing the risk of each trade.

The price for the Odin Forex Robot is $129.00 which was cut down from $199.00. This seems to be a promotional price because it is stated that the “lowest price ever ends soon”.

Clients Feedback on Odin Forex Robot

Odin Forex Robot is still a relatively new product, launched this year, and we could not find much on it. The page publishes 2 reviews that are positive but it is difficult to ascertain if this is genuine or not at this time.

A search on Myfxbook turns up nothing as well and the vendors would do well to fix this.

Support

There is no information on how to reach the vendors but Odin Forex Robot is said to come with a customer support system in the package.

Conclusion

This seems to be a very good robot and though new, is already gaining popularity. The pricing seems high but if it actually does all that is claimed, then it would be worth it. Transparency of the vendors on the working mechanism is also an advantage.

The forex robot that is dominating charts everywhere.

Introducing Odin: an unrivaled expert advisor with brutal trading accuracy.

A legendary forex strategy meets our most intelligent code ever.

Odin uses an advanced grid trading strategy to find beautiful forex trades automatically.

Automated From Start To Finish

Opens, manages, and closes the best trades for you. No need to lift a finger.

Legendary Grid Trading Strategy

Plots chart price in real time to find the best entry and exit points with no lag.

Real Time Broker Shield™

Keeps shady brokers from trading against you by guarding your trade information.

The #1 choice of professional forex traders using expert advisors in 2020.

Fully Optimized Settings

Comes loaded with optimized settings for over 20 common forex pairs.

Simple To Setup And Use

Designed for any skill level. Get up and running in less than 5 minutes.

Truly elite performance.

Odin is currently the #1 choice of professionals using expert advisors in 2020.

Brand new Broker Shield™ technology keeps your trade and terminal information hidden from curious brokers.

Odin finds great forex trades using a reliable grid trading strategy.

Every price movement on your charts has smaller movements inside of it. Plotting each movement against a grid reveals predictable patterns. Odin takes these patterns and analyzes them for future probability. The end result is highly accurate trades with no indicator lag.

  • Perfect entry and exit points

Price plotting creates an accurate road map of where the price has been and where it is going.

Accurate Stop Loss and Take Profit

Tight SLs and TPs protect your balance and secure profit while minimizing risk per trade.

Lock in profit as the price keeps moving

Automated protective stops move behind each candle to lock in profit while the trade remains open.

Implement a proven grid trading strategy on your charts in 5 minutes.

Manual trading isn’t simple or quick. It takes years of trial and error to trade forex accurately. Odin is years of our experience, hard work, and real world testing rolled into a single piece of automated forex software. Place it in your forex terminal and your done.

  • No complex strategies to learn

All of the grid trading rules are coded directly into Odin. No need to study charts or crunch numbers.

Trading never stops

Odin monitors the market 24 hours a day, 5 days a week. Never miss a trade because you’re sleeping.

Diversify your forex equity instantly

Never put all of your eggs in one basket. Odin is a quick way to diversify your account equity and lower risk.

Odin manages every aspect of forex trading for you 24 hours a day.

We’ve designed Odin for every trader regardless of skill level. It’s a complete solution that will handle everything for you automatically. From basic things like opening and closing trades, to advanced calculations like money management and profit control.

  • Keep your broker honest

Forex brokers are not your friend. Odin’s new Broker Shield™ keeps sensitive information away from your broker.

Works with any account size, big or small

Built in money management calculates the safest lot size for you automatically. Micro, mini, and full lots are supported.

Clean and informative visual interface

Odin’s modern UI and user friendly interface let you see exactly what it is doing at any point in time.

What do I need to start using Odin inside my forex terminal?

Odin was designed to run inside of the MetaTrader 4 forex terminal. Several major brokers offer instant MT4 demo accounts for free. Simply drag and drop Odin into your MT4 terminal and attach it to any forex chart. Installation is very simple and takes less than 5 minutes.

  • Is previous forex experience required?

Not at all. Odin handles everything for you. Anyone can use it on their charts to find great forex trades.

What kind of support is included?

Our dedicated support team is here to help you every step of the way with anything you might need.

Can I start with a demo account?

Absolutely. Start with a demo account and switch to a live account at any time in the future. Or go live right away.

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Month Profit * Pips
April 2020 $36,227 4,327
March 2020 $155,344 19,073
February 2020 $146,171 17,628
January 2020 $148,728 17,698
December 2020 $148,797 17,753
November 2020 $144,324 17,753
October 2020 $150,722 18,018
September 2020 $147,529 17,584
August 2020 $150,479 18,031
July 2020 $147,163 17,453
June 2020 $148,408 17,374
May 2020 $149,854 17,734
April 2020 $145,282 17,578
March 2020 $150,621 17,866
February 2020 $148,613 17,828
January 2020 $152,372 18,050
December 2020 $148,683 17,967
November 2020 $150,139 18,024
October 2020 $147,583 17,846
September 2020 $145,348 17,308
August 2020 $150,121 17,475
July 2020 $156,171 17,846
June 2020 $151,697 16,914
May 2020 $159,740 17,605
April 2020 $154,049 16,789
March 2020 $153,842 16,726
February 2020 $153,530 16,410
January 2020 $151,251 16,443
December 2020 $138,944 15,186
November 2020 $206,478 22,747
October 2020 $148,812 16,369
September 2020 $175,997 19,054
August 2020 $189,899 20,654
July 2020 $180,634 20,056
June 2020 $169,721 18,786
May 2020 $216,250 24,666
April 2020 $179,448 20,296
March 2020 $186,701 20,927
February 2020 $147,342 16,302
January 2020 $219,120 24,390
December 2020 $179,935 20,387
November 2020 $202,242 22,242
October 2020 $171,369 18,506
September 2020 $189,532 20,156
August 2020 $212,188 22,492
July 2020 $216,902 23,141
June 2020 $243,819 25,970
May 2020 $203,361 22,459
April 2020 $238,095 26,190
March 2020 $207,047 23,126
February 2020 $204,450 23,144
January 2020 $209,104 24,580
December 2020 $196,774 22,760
November 2020 $155,658 18,147
October 2020 $214,936 24,735
September 2020 $221,868 25,172
August 2020 $197,671 22,521
July 2020 $202,698 23,267
June 2020 $209,074 23,266
May 2020 $207,674 22,871
April 2020 $245,514 27,058
March 2020 $201,663 22,341
February 2020 $200,640 22,453
January 2020 $216,098 23,470
December 2020 $206,326 23,139
November 2020 $187,089 20,314
October 2020 $200,691 21,187
September 2020 $193,036 19,785
August 2020 $133,893 13,421
July 2020 $142,431 14,386
June 2020 $149,881 15,025
May 2020 $164,089 16,713
April 2020 $149,876 15,160
March 2020 $179,395 18,157
February 2020 $181,500 18,329
January 2020 $181,721 18,378
December 2020 $160,267 16,039
November 2020 $173,715 17,184
October 2020 $185,886 18,288
September 2020 $187,426 18,738
August 2020 $194,000 19,368
July 2020 $200,625 20,163
June 2020 $210,768 21,010
May 2020 $206,580 20,638
April 2020 $213,489 20,819
March 2020 $188,339 18,340
February 2020 $192,257 18,195
January 2020 $210,523 19,731