OHLSEN TRADING is a copy trading service providing Forex trading signals. As per vendor claims it can generate a 4-13% gain on a monthly basis depending on the subscription plan chosen. They have also claimed that the win rate of this system is 99%. Now, this seems like an unrealistic promise, so we need to conduct our own investigation on this system and its performance.
We have little or no information about the developers behind this copy trading platform. The vendor has not shared any information on the company’s service history or location. Also, we don’t know if the team has built similar systems in the past.
OHLSEN TRADING strategies and tests
The vendor has mentioned on the official website that when the copy trader loses, it loses big. This tells us that it takes a high-risk trading approach. OHLSEN TRADING attempts to compensate for the losses within 14-30 days, but we don’t know what technique is applied for this.
To trade with this platform, you need to sign up with a broker that supports Forex transactions. The vendor sends trading signals through a Telegram channel. Every month, it generates signals for 8-16 trades. It scans the market throughout the day to find trading opportunities.
To use this system, you need to register on the website, providing the name of your broker, your MT4 account number, and your password. After this, the service team will download your MT4 onto their VPS server. Without a VPS server, it is not possible to copy trades on the client’s account, so all accounts are hosted right here. The team also applies the appropriate EA settings and copy the trades on your account provided you pay the subscription fees.
Nowhere on the official website can find an explanation for the trading strategy used by OHLSEN TRADING. The vendor has not explained what strategy the traders use for generating the signals, which is quite disappointing. The lack of strategy insight is a huge red flag that will deter many individuals from investing in this system.
EA vendors often share the historical testing results for their systems. Since this is a copy trader and not an automated trading system, there are no backtesting results available for it.
OHLSEN TRADING REVIEW live trading account review
This live trading account on the Myfxbook website was launched on May 05, 2021. So it hasn’t been in the live market for too long and there have been only 59 trades placed through this account to date. Here, we should mention that the account owner has chosen to hide some of the key parameters like balance, equity, profit, interest, withdrawals, and deposits.
The win rate for this account is 97%, which is a little less than what the vendor promises on the website. Currently, the daily and monthly gains are 0.08% and 2.40% respectively, while the drawdown is quite high at 30.44%. This tells us that OHLSEN TRADING follows a high-risk strategy that can ruin your account in no time.
The vendor has hidden the trading history for this account, so we cannot analyze them to figure out the trading style. This account has a profit factor of 1.23 and a Sharpe Ratio of 0.09, neither of which is impressive enough.
There are three distinct pricing plans for OHLSEN TRADING. The first plan is free and it gives you Telegram group membership, but you need to perform manual trading. For auto-trading, you can choose between the other two plans carrying monthly charges of 60 Euros and 65 Euros. The average monthly gain percentage is higher for the costlier plan. There is no mention of a money-back guarantee for any of the plans.
Is OHLSEN TRADING robot a scam?
OHLSEN TRADING is most likely a scam because the vendor promises an unrealistic win rate of 99% and shares a live trading account having a short trading history. The monthly fees are quite high and there is no money-back guarantee.
There are only two reviews on Trustpilot and none on Forex Peace Army. This indicates a lack of reputation.
There is an option to subscribe to the newsletter of OHLSEN TRADING. The vendor promises awesome deals with this subscription but fails to describe what they are.