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Odin Review: Is It a Reliable System?

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Odin

Odin robot uses a grid trading strategy along with a stop loss and a take profit. The system is fully automated and set up in a short time on your trading terminal. Instead of tracking results on a noted website, the developer provides statistics on their website. We will go through each available information and review the system so that traders can have an idea about its performance.

The robot has the following features:

  • It has a broker protection system.
  • There is a legendary grid strategy in use.
  • The algorithm uses a fixed stop loss and take profit.
  • The robot can work with any account size.
  • There is a clean interface that traders can use to gauge the performance.

How it works

The service will work if you follow the steps below:

  • Purchase the system from the developers’ website and provide your email.
  • They will send the robots file to your email.
  • Place the robot on the MT4 platform to start trading.

Trading strategies and currency pairs

The developer states that the robot uses a fixed stop loss and take profit for each trade. The system takes a perfect exit and entry for each trade. There is no further information on the game plan and from the images on the website, we can deduce that it finds the reversals in the market. There is also grid trading in implementation. From the history on Myfxbook, we can see that it trades on multiple currency pairs with an average holding time of 8 hours and 34 minutes.

Trading history

Trading history

There are no backtesting records available with the robot. This is quite a poor practice and leaves us with many questions about the performance of the system. The robot might have failed during historical testing.

Odin trading statistics

Verified trading records on Myfxbook have been showing performance from November 16, 2020, till the current date. The system has made an average monthly gain of -46.62% for the period, with a drawdown of 48.19%. The stated drawdown is high, showing that the system loses nearly half of the capital while trading.

The winning rate stood at 63%, with a profit factor of 0.78. The best trade was $30.59, while the worst was -$61.44 in a total of 755 trades. The developer made $1000 in deposits and $0 in withdrawals.

Trading records on the website

Trading records on the website

Pricing and refund

Traders can purchase the service for an asking price of $129. Normally the robot is sold for $199, and there is a 35% discount for attracting customers. There is no mention of a money-back guarantee.

The price of the EA

The price of the EA

What else should you know about Odin?

Customer reviews on Forex Peace Army give the company a total rating of 2.262 for 270 pieces of feedback. A trader says that he has purchased the Odin robot, but he cannot download it from the website. He says that he was charged two times for the product while he only bought it once.

Customer review on FPA

Customer review on FPA

Another trader says that he has been using Odin for several months, which has blown his account. He has tested multiple brokers to see if the problem is in the exchange, but the results were the same.

Customer review on FPA

Customer review on FPA

Odin Conclusion

3.5

The Odin trading robot is not a trustworthy algorithm as there are no backtesting records. The developer also does not share information on their whereabouts, which adds fuel to the fire. The records on Myfxbook show a high drawdown which depicts that the robot is not profitable.

  • Price - 3/10
  • Strategy - 3/10
  • Trading results - 3/10
  • Vendor transparency - 3/10
  • Customer reviews - 4/10
  • Support - 5/10

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