Omega Trend EA is an ATS that uses multiple trading methods to increase returns and improve its performance. This FX EA uses its proprietary indicator, which is capable of identifying market trends and following them effectively. The vendor offers substantiated proof and backtesting reports for proving the efficacy of the robot. However, the results indicate a risky approach and there is a lack of vendor transparency. Our initial conclusion is that there are some reliability issues in this trading tool.
What is Omega Trend EA?
As per the vendor, the main features that make this FX Robot highly competitive are:
- A completely automated software that is easy to set up and use
- Three strategies are used to boost the profits and performance
- A money management system is present for lot calculation based on risk and account-free margin
- The recovery mode helps to compensate the losses by a gradual increase in the lot size
- You can set the system to trade during specific times with the time management feature
- A timeframe of H1 is recommended
- It mainly works on GBPUSD, EURJPY, and EURUSD pairs but can also support other pairs
Official Omega Trend EA website
The official site is formatted similar to that of other products of FXautomater, the company behind this FX EA. We can find features, performance stats, settings, and more on the main page. Other than the mention of the team having trading experience of 15 years and 10 years of experience in developing FX Robots, there is no info on the vendor. We cannot find the founding year, location address, phone number, etc. The lack of info raises a red flag for this FX robot.
How can we Use Omega Trend EA?
To use this FX EA, you have to download and install the package after purchasing it. The process takes a few minutes only. After the process, you can start trading with it immediately.
Pricing & refund
To buy this FX EA, you have to pay $117. The price includes one real account and three demo accounts. Other features provided are 24/7 support, a user manual, free updates, and a 60-day money-back guarantee. When compared to the price of other similar products, the price of this MT4 tool is affordable.
According to vendor info, this FX EA uses three methods, namely trend spotting, strategy diversity, and dynamic entries and exits. The vendor explains how each method helps in making the system powerful even in a volatile market situation.
A few backtests are provided on the official site. Here is one of the backtests for the GBPUSD pair using the H1 timeframe.
The stats in the report show that the duration of the testing was from 1999 up to 2020. From the starting deposit of $2000, the EA had generated a net return of 6031404.39. Profitability was 61.79% and the profit factor was 1.29. The maximum drawdown was 18.92%. From the results, we can see the risk is not high and returns are consistent.
The vendor provides a real live USD account using the IC Markets broker and leverage of 1:500 on the MT4 platform. Here are a couple of screenshots of the trading results verified by the Myfxbook site:
From the screenshots, a total return of 58.81% and an absolute return of a comparable value are found. The daily and monthly returns are 0.13% and 3.97%, respectively. A drawdown of 32.86% is found, which signifies a risky approach. For the account that started in December 2020, 631 trades have been completed with 60% profitability and a profit factor of 1.16. The lot size used is 0.01.
What customers say about Omega Trend EA?
Unfortunately, there is no user feedback for this FX EA on reputed sites like FPA and Trustpilot. The absence of testimonials raises doubts regarding the popularity of this product.
Summary: is Omega Trend EA a trustworthy EA?Omega Trend EA
Trading Results3/5 Neutral
- Live verified trading results
- Price is affordable
- Refund offer
- Trading results show a risky strategy
- Absence of vendor transparency
- No customer reviews