As a Forex signal provider, Ohlsen Trading uses different methods to generate the signals for its subscribers. The company boasts of high profits with its successful trading approach and that no prior knowledge about trading is necessary for using the signals. This subscription-based service promises a profit of 4% to 13% every month depending on the subscription you select. A 99%-win rate is assured by this company.
OHLSEN TRADING: Characteristics
The website is well made with appropriate sections for the features, pricing, and other details. However, the info provided is not elaborate and does not reveal a proper insight into the service or the approach it uses for signal generation.
As per the vendor info, the results produced are extraordinary and even if there is a loss the trading approach ensures the subsequent gains make up for the loss considerably. The 30-day trial given to all subscriptions ensures clients can try the service before paying.
Using the copy trading solution offered by the vendor is simple and done in a few steps. You need to first register with a reputed broker with MT4 platform access and subscribe to the services of the vendor. Your MT4 account is downloaded on the VPS server of the company. Now the client EA is applied on this account and the settings are optimized. Once your account is set up for copy trading, the vendor copies all trades to the account during the duration of the subscription.
Currency Pairs, Strategy & Timeframe
The vendor does not provide any details concerning the strategy used. Other than the mention of the approach being the best strategy among those tested and eliciting profits for 99% of the trades, the vendor does not divulge the approach used. No backtesting results are provided which is disappointing as the strategy tester reports give a better insight into the trading method and the performance.
OHLSEN TRADING Performance
A real live trading account verified by the myfxbook site is provided by the vendor. A screenshot of the real USD account using Pepperstone broker and Metatrader 4 platform is shown below.
From the stats provided, we could see the total profit is 27.27% while the absolute gain is 12.2% only. The difference between the two values suggests that the approach is not effective. A drawdown value of 26% is present while the daily and monthly profits are 0.23% and 8.47% respectively.
The balance, equity, and other values under the advanced stats like the average win and loss, lots, and more are hidden. We are disappointed to note that most of the crucial details remain hidden. This raises a red flag. It is clear from the hidden data that the performance and strategy are not profitable.
How much does it cost?
A free subscription plan is present which includes Telegram group membership, manual trading, and 24/5 signal services. Two paid subscription plans are present that cost €60 and €65 per month. The difference between the two plans is the percentage of gain guaranteed. Both plans include fully automated trading and 24/5 copy trading services. Compared to other similar providers, the cost appears to be affordable. While there is no refund policy mentioned, the trial for 30 days can help traders do a trial run before deciding on purchasing the plan.
Reviews from customers
User reviews for this company are found on the Trustpilot site. A total of 2 reviews with a rating of 3.8/5 are shown.
While the reviews are positive, they are too few and also from the same date which makes them look suspicious.
Should You Use OHLSEN TRADING?
On evaluating the features, trading results, and promises of the vendor, we find that this is an unreliable service. Here are the important pros and cons we have found from our analysis.
|Fully automated service||Hidden data in trading results|
|30-day trial offer||The strategy used is not disclosed|
|Vendor transparency is not present|
Ohlsen Trading boasts of a 99%-win rate with its copy trading solution. But our analysis of the features, the trading stats, and other aspects of the company reveals that this is an unreliable service. While the vendor mentions that the strategy used is the best among the various approaches the team has tried, the approach used is not explained.
Further, the verified trading results have all the crucial details hidden. The lack of backtests along with the suspicious-looking trading results confirm our doubts that this is not a trustworthy system. Other than an online contact form and a link to the vendor’s Instagram page, the customer support options do not look impressive. With the company failing to prove its efficacy in all the key criteria we use for our assessment we do not recommend this service.