The vendor tries to convince the trading community that Omega Trend EA is ready for 2021 market conditions. According to the company, the system will assist you to trade in the live market, and consequently, grow your account balance.
Omega Trend EA is the product of the FXautomater team. The company has been in this market for over 15 years and is quite popular for creating numerous Forex robots. However, the problem is that in all its presentations, the company doesn’t reveal the names and profiles of the programmers, traders, and investors it works with. This is enough reason to make traders doubt the team’s proficiency.
The EA is currently being sold going for $97. At this new cost, you will get 1 real account, 3 demo accounts, 24/7 customer support, and a 60-day money-back guarantee.
Key features
The Omega Trend EA features the following:
- Supports 3 main currency pairs; GBPUSD, EURUSD, and EURJPY
- A detailed user guide
- Lifetime free updates
- A money management system and Omega trend indicator
- An advanced time management system
- A recommended time frame of 1 hour.
Omega Trend EA trading approach
Omega Trend EA applies 3 main trading principles. One of them is referred to as trend spotting. The system is designed to spot a trend close to the start of the movement to provide you with the best opportunity to profit. The second approach is known as strategy diversity. The bot has 2 trend indicators tied to specific strategies to capitalize on the various kinds of market movements. Lastly, we have the dynamic entries and exits principle. This entails dynamically connecting trailing stop, stop loss, and take profit points to the market’s volatility.
Backtesting results
This is a backtest report for the GBPUSD pair. The EA traded with it using the 1 hour time frame from August 2001 to September 2020. In the end, it executed 4853 trades and achieved win rates of 57.97% for short positions and 60.11% for the long ones. These outcomes were mediocre, to say the least. From a deposit of $2000, a total profit of $21996.38 was realized. The maximum drawdown was 11.62%, while the profit factor was 1.26.
Omega Trend EA live trading results
We have a demo USD account that is being hosted by the Alpari RU brokerage. Since November 4, 2020, to date, only a profit of $174.43 has been attained from a $1,000 deposit. This translates to an absolute gain of 17.44%. The daily (0.05%) and the monthly profits (1.41%) are very small. The good news, however, is that the drawdown rate is low — 4.54%.
We can see that the EA doesn’t trade frequently. In about 11 months, it has only traded 172 times. Worse still, these trades have not been that successful, as illustrated by win rates of 61% and 59% for long and short positions, respectively. The profit factor of 1.40 is also average and an indication that the returns on investment are insignificant.
The low profitability of the system is very clear. Since January, it has not managed to make any substantial gains. So far, it has only made losses in October, and this trend is likely to continue.
The trading history shows us that the robot has made many losses in October. The strategies used are clearly working against it. Stop losses are also part of its risk management tactics.
The success rates for the long and short positions were 60%. The long trades brought in the most profits — $144.90.
What are the risks with Omega Trend EA?
Omega Trend EA is not a reliable trading system. We arrived at this conclusion after discovering that the robot:
- Makes more losses than wins
- Generates small profits.
Worth noting!
We were shocked to find out that the EA only has a single review on FPA, considering that it has been in the market for some time now. Anyway, this customer has given it 3 stars. He promises to provide another review after he tracks the system’s performance over a longer period.
Alt: Customer feedback.
What are the pros & cons of investing in Omega Trend EA?
| Pros | Cons |
| Offers a 60-day money-back guarantee | Insufficient customer feedback |
| Lack of vendor transparency | |
| Makes small profits | |
| Poor win rate results |
The system will not give you value for money.
Omega Trend EA Conclusion
We can confidently say that Omega Trend EA is not a dependable trading tool. In addition to having a low profitability rate, the system’s strategies also carry some risks that make it prone to losses. So, it can easily erode the profits made. The lack of adequate customer feedback is also a sign that the robot is not popular among traders due to its inefficiency.
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