Forex Olympus is an indicator that claims to perform well during the coronavirus pandemic. It is available on the website with the promise to revolutionize your trading journey and make consistent profits. There is also an expert advisor that copies trades of the indicator directly to the trading platform.
Forex Olympus EA: Characteristics
As with any other trades in the market, Forex Olympus works through the MetaTrader platform. Currently, it has support for MT4 only. The developer will send you the file after your purchase which you will have to place in the indicators directory and place it on the respective chart to work. You can install the EA separately, and it will copy trades automatically when the signals appear on the chart.
The indicator has the following features:
- Trend power detections allow you to determine the current strength of the trend
- A unique algorithm that provides accurate buy and sells signals
- Three types of alerts are available
- Three different trading modes that you can choose according to your style
- The system is a non-repaint and comes with 24/7support
Currency Pairs, Strategy, and Timeframe
The indicator works on M15, M30, H1, and H4 time frames on all major currency pairs. The developer fails to provide information on how the indicators show up on the chart. He seems more convinced about selling his product rather than sharing the actual working prospect.
Forex Olympus Trading Performance
There are no backtesting or live trading results that can confirm the performance of the robot and indicator. The developer shares a video on the website showing how the system can work with high accuracy. For any algorithm, it is possible to show a brief period of increased profitability, make a video and upload it on the internet to attract traders. Providers of Forex Olympus also use this Ponzi scheme.
There are also several photos where the system claims to make from 300 to 1000 pips within two or three trades. As mentioned before, they claim that the system is working well even during the coronavirus pandemic. They are not transparent on how the pandemic affects the market conditions and why this is harmful.
How much does it cost?
The website constantly debates about the offer going on for purchasing Forex Olympus. Lifetime license for the indicator comes at $129, while the complete kit with the robot is $228. They claim to increase the price to $429 after they have sold the first 300 copies. There is a 30-day money-back guarantee if you are not satisfied with the product, which we highly doubt as there is no transparency of the developer or the system.
For such a system, the asking price is too high. It should not cost more than $20 for the given statistics.
Reviews from customers
Unfortunately, there are no customer reviews available on noted websites such as Forex Peace Army and TrustPilot. It’s a huge con.
Should you use Forex Olympus?
Anyone who would purchase systems that come with no verified records or customer reviews is sure to lose their hard-earned money. Therefore, Forex Olympus is not a worthy investment in this case as it fails terribly on transparency.
- Comes with a 30-day money-back guarantee
- No verified trading results
- There is no information available on the developer
- The product has a high price
Forex Olympus has a convincing website that can easily lure beginner and amateur traders into the get-rich-quick scheme. Unfortunately, the truth is no wholly grail indicator works with such profitability, and the developer is lying.