Omega Trend EA is an FX robot that uses three trading methods for enhanced performance and high profits. As per the vendor, this FX EA is capable of successfully trading volatile markets. FXAutomater promotes this FX robot. We could not find info on the company like its founding year, team members, developers, etc.
Other than mentioning the trading experience of its team of FX traders the company provides very little info. It boasts of creating more than 30 FX robots and over 10000 clients. BF Grid Master, Smart Scalper, and Forex Diamond are the few products developed by this company. Two indicators are also part of the products promoted by the firm. We could not find the location address or phone number. The lack of vendor info raises suspicion on the reliability of the company.
Important features that the vendor focuses on in this FX robot are its money management system, indicator, and time management methods. The recovery mode works by increasing the lot size of each trade with minor amounts until the previous losses are recovered.
With the time management, the FX EA trades only during specific hours which you can set up as per your situation. The feature can help you steer clear of the risky periods and trade only in the best period. The proprietary indicator system of the same name is used for detecting market trends and following them with effective results.
Trading strategies and currency pairs
This FX EA works on the EURUSD, GBPUSD, and EURUSD pairs on the H1 timeframe. The vendor does not provide recommended deposit and recommends the use of default settings for the particular pair you are using. Trendspotting, diversified strategies, and dynamic entries and exits are the main trading approaches in use now. The system combines these three approaches and ensures the trading is successful.
A few backtests are present on the official site. Here is a strategy tester report for the FX robot done on the GBPUSD pair using the H1 timeframe and a modeling quality of 90.00%.
From the above report, we can see that the EA had generated a net profit of 21996.38 for the trading done from August 2001 up to September 2020. For an initial deposit of $2000, the account had a profit factor of 1.26 and profitability of 59.08%. The maximum drawdown was 11.62% for a total of 4852 trades. Modeling quality of 90% was used. From the results, we can see that although the drawdown is low, the strategy is not an effective one.
Omega Trend EA trading statistics
The vendor provides a few trading results verified by the myfxbook site. Here is a real USD account using the IC Markets broker, and automated trading.
From the results, we can see that the total profit and absolute profit are similar at 75% with the daily and monthly profit of 0.17% and 5.33% respectively. A drawdown of 38.86% is present for the account indicating a risky approach. For the account started in December 2020, a total of 594 trades have been executed with a profitability of 61% and a profit factor of 1.22. Comparing the backtesting results with the real trading details, we find the performance is below par in both the results and we can see a risky approach is present.
Pricing and refund
To purchase this FX EA, you need to pay $97. The features in the package include one real and 3 demo accounts, and support. Lifetime updates, a detailed user manual, and an easy installation process are assured. A 60-day money back guarantee is provided by the vendor. When compared to the price of similar products in the market, the price looks affordable.
What else you should know about Omega Trend EA
We could not find user reviews on authentic sites like Trustpilot, Forexpeacearmy, etc. We prefer such sites as they are reputed for their unbiased reviews. Further, they help in providing a better insight into the various aspects of the EA like the efficacy of the strategy, performance, support, etc. The lack of reviews indicates this is not a well-known FX EA.