The Forex signal provider known as Ohlsen Trading claims to provide a significant return on investment in exchange for a small fee. According to the vendor, a trader can make monthly profits of 4-13, depending on the subscription plan chosen. They also claim that the system has a win rate of 99%. These are bold claims that we need to verify at our end by conducting a thorough investigation.
We can see that the vendor offers a trial period and some flexible subscription plans. Nevertheless, we can’t find any backtesting results on the website, and there is no explanation provided for the strategy. Although live trading results are available, they are not too impressive. Hence, our first conclusion is that this is not a reliable signal provider.
What is Ohlsen Trading?
Ohlsen Trading provides signals for the EUR/USD pair. The vendor offers a 30-day trial period for just 2.5 Euros. You can choose to avail of this offer for any subscription plan. While subscribing to any plan, you can choose the subscription length. For a longer period, you have to pay less on a monthly basis.
For using this service, you must sign up with a broker that deals in Forex trades. Also, the brokerage must be able to access the Metatrader 4 platform.
Official Ohlsen Trading Website
On the official website, the vendor highlights the various advantages that Ohlsen Trading supposedly offers. We have an FAQ section where some information about the signal provider can be found. There is also a Results tab where we can find a link to a live trading account on Myfxbook.
We don’t know much about the company except for the fact that it is located in Sweden. There is no information on the website about the company’s history and background. We don’t have a physical address, and the vendor has not revealed the identities of the team members. From a vendor transparency perspective, we are quite disappointed, and our expectations from this system are low.
How Can We Use Ohlsen Trading?
To use this software, first, you need to register and share details like the broker’s name and MT4 login credentials. Ohlsen Trading hosts all customer accounts on a VPS server, so your MT4 will be downloaded onto it as well. Following this, the service team will configure your account for copy trading and start placing the deals.
Pricing & Refund
For the free plan, you get Telegram group membership and trading signals delivered 5 days a week. The next plan costs 60 Euros per month and promises a 4% monthly gain. With the last plan, you have a projected monthly gain of 13% for 65 Euros per month. Only the paid plans provide copy trading services. The monthly fees are close to the market average.
On the official website, the vendor has not explained the trading strategy. We have no idea how the traders generate the signals, which makes it difficult for us to trust them. Even the backtesting results are missing, so we have no idea about the historical performance either.
This is a live trading account on Myfxbook that was launched on March 05, 2021. Thus, it has an extremely short trading history consisting of just 37 trades. Ohlsen Trading has managed to win 35 out of these 37 trades, but still, its time-weighted return stands at -4.61%.
The vendor has set the trading history to private and has also hidden other figures like balance profit, equity, interest, deposits, and withdrawals. Currently, the daily and monthly gains are -0.04% and -1.19%, respectively, while the drawdown is quite high at 30.44%. It is evident that this system is using a risky strategy that can lead to huge losses.
What Customers Say
There are a couple of customer reviews for Ohlsen Trading on the Trustpilot website. Both of them are positive and praise the services of the signal provider.
Summary: Is Ohlsen Trading a Trustworthy Signal Provider?Ohlsen Trading
Trading Results2/5 Bad
- Affordable pricing plans
- Verified live trading results
- Short trading history and high drawdown
- Backtesting results not available
- Lack of strategy insight