Forex Robot Trader Review

Dear traders,
I am an owner of the Odin EA and since last many months, the website of FRT or forex robot traders has been shut down and there has been no response from their support whatsoever. And I can't register my account on their website. Personally, I can't say anything about the performance of their EAs. Their EAs also probably won't run as their servers won't approve your EA. I came to know that they have sold or wound up the company. Such a shame.

Whatever the claims we need tangible profits for the long term and short term at the end of the day, robots from this web-site are 1 of the worst I have encountered as a file installer for forex robots. I lost money with these robots from this web-site. Theoretical customer service is good, but the product have to provide results, the customer service never was able to resolve the bad issues, and i suffered losses. I of course stopped using the robot from this web-site. Seems they are into sales for new customers to take some amount of temporary profits till there is enough bad name about them for potential customers to reject them. These people need to meet real manual traders for automating their robots as per real successful manual trader's theories and practices.

I have been purchasing the Odin EA on their website. Experience three horrible experience:
1. After purchasing the Odin EA. Not able to download the Odin EA link whatsoever
2. I contacted and submitted ticket 3 times to the FRT support since October 4th & 5th 2021 to explain the situation with screenshots as proof of purchase, no reply until this post is made today.
3. I checked my Paypal, it was charged 2 times the amount of purchase, lucky my bank is willing to void the second transaction after I submitted the screenshot of only 1 purchase.

Still, they steal my money on a purchase with no product I can download and use. It is a scam. Im sharing this so nobody else fall victim to this FRT.

Hi all,
I typically don't leave neg reviews but felt that I need to inform the public.
I've used it (Odin Forex robot) for various months until it blew the account- it made itself redundant an unusable.
Their support says that I have the 'wrong' broker.
I've selected multiple (at least 15) different brokers to test (the most known out there) and all shown terrible results - in fact none were able to replicate those results they are putting on their website. Support would not tell me what Broker they are using.
It may be a good robot 'for them' but in my case I was not able to replicate those results as stated on their webiste whatsoever.
I've asked for a full refund but they refused and referred to their Terms, and instead asked me to pay 50% off for an additional live account to continue testing - this behaviour is appalling.
Stay away I'd say.

I had high hopes for Odin, its advertised on a professional looking website and the advertised results are very impressive. Unfortunately I had to abandon it after 2 months due to a number a of problems.

The first issue is that the EA has a huge number of variable settings, the developers will advise you to go with default but over my time using the EA, they recommended different settings to try and improve my results (more of which later). Probably like most traders I prefer my EAs to have a specific strategy which needs tight parameters. If you have an EA with multiple, multiple, variable settings, then the permutations are infinite, and effectively I can set the EA to do something very different from the dev’s original strategy, and if I’m doing that then its not really an automated strategy anymore, it becomes more “manual” the more control you can have over what it does.

The second issue is that it seems to be tradeable on any pair, and their published results reflect that, you will see trades for a wide range of pairs, which again for me casts doubt on the efficacy of the underlying strategy. If it can work on any pair, how does that take into account varying volatility between different pairs, and the specific relationships between the bigger volume pairs? Initially I set Odin to work on a range of pairs, essentially trying to copy their published results, and it performed well, over 39 trading days in July and August 2020, Odin was up 11% with a win rate of 72%, but then after a series of losses the account dropped by 21%. I struggled to understand the underlying R:R ratios, the wins were modest, and the losses were larger in terms of value. Surprise surprise there were also differences between my results and the official results, which are published live on their website. Some of the trades matches up, but a lot didn’t, and after emailing support they replied:

9/7/20
When comparing trades, please keep the following things in mind:

1) Most brokers use odd time offsets (GMT offsets) as a way to confuse your indicators. These offsets lead to differing chart times for prices between brokers.
2) Brokers are free to quote prices and spreads as they wish. So if your broker is spread widening or altering price your signals may differ.
3) Things like if you were in a trade on a pair already, if you had a low account balance, or if the spread widened too far can all lead to different trades as well.

Hmmmm.
Another week later and again I compared my trade results to their published results, and again I emailed to say:

My Odin yesterday recorded 2 wins and 6 losses for a 25% win rate, and my overall account balance fell by -3.65%.
Your Odin recorded 70 wins and 5 losses, for a 93% win rate, and a nice increase in account balance.https://www.forexrobottrader.com/results/Odin%20Robot/latest_results.htm

How can the same robot perform so differently?

In their response they simply referred me back to their 9/7/20 email, which wasn’t particularly helpful. But they did also send me some new custom settings, which I was happy to try. I blindly implemented the new settings and then realised a few days later that they had NO stop loss? Odin had entered firstly into one trade and price had gone against me, the loss position kept growing and then it happened on a second trade, I would be recording small wins in the background on other pairs, but eventually all trades on all charts were running as losers, with no SL in their recommended settings to help me get out. Before long all my margin was consumed in the multiple losing trades, and with no SL, my only hope was that some of them would return to profitable positions, hit TP as wins, and release some margin to allow Odin to breathe again. Until then no new trades could be opened as I had no available margin! In the end I had to close all the trades, take the losses and hope to start again.

I tried again, but exactly the same scenario started to happen a few days later, at which point I gave up.

I emailed support yet again to query why the customised settings they sent me had no stop loss, and they replied to offer me a new robot called Equity Trail! As far as I could see Equity Trail does little more than SL and TP management, and there are multiple SL and TP settings in Odin itself, so I couldn’t understand why they couldn’t just tell me what settings to apply on the actual EA, rather than recommending a totally new bot!

I don’t like leaving negative reviews, but my overall experience of Odin was just infuriating. Support were responsive and kind of helpful, but after numerous back and forths we just couldn’t get it to work. And I resent the fact that I bought the EA hoping to replicate their published results and the got nowhere close.

i purchased the frt vader and set it up on a non us broker and a us broker and both perform poorly. i sent a eamil to Frt support and asked them if they had any set file for thier bots and they replied with no. Kinda hard to believe when their bot is constantly winning and mine is constantly loosing! I also received the HAS for free when i purchased the vader. If you go yo the frt website and look at the HAS last 30 days trades you will see that its won EVERY SINGLE TRADE. yet they dont have any set files?? well im just very disappointed with frt , i had high hopes when purchasing the vader . I dont recommend anyone buying from frt!!!!!

After much effort on my part to make Odin work over a 2 month time period, FRT decided to offer me any Robot of my choice to try next. I refused and asked for a refund since they could not make Odin work. They refused and I issued a charge back through my bank. Their response to my bank was " we do not offer refunds on digital software. We do not guarantee performance but we do offer full support for it. She bought digital software to use as she sees fit."

My purchase of Odin was "Not as described and defective". The product is misrepresented on their website and does not live up to the claims. This is FRAUD!
Do not buy anything from ForexRobotTrader.com !!

Jul 16, 2020 - 1 Star Bought Odin despite all of the negative reviews. I saw some positive reviews and thought somebody must know how to make Odin work. I have been in contact wit support more than 15 times so far. I was getting only a 50% win rate - not the 95% win rate they advertise on their website. I have spent many hours trying to make this EA work and FRT is not helpful. What timeframes work? What settings are profitable? Default settings have NO stop Loss. The positive reviews on this site are difficult for me to believe given my own experience.

IF YOU LOOK AT DATA OF THE ACCOUNT all post 1 lot trades yiu will see that THERE IS NO SWAP CHARGE EVER!

This is highly suspicious. I bought it and tested live for 2 weeks and it was only going more in draw down,
I am contacting them to request the EXACT same file as they use and the time frame.
I have already a dispute with paypal….I really think this is a bad ea...but will give it a chance. Also even with a 99% backtested I was not able to backtest it ...it wont let you !

Only loss, loss, and loss, with default settings, they say that work on 20 pairs, but dont work on anything, only loss, loss, and loss, with spread at 8 dont make a cent!!, -99 on my pocket and 2% on my account, very bad, dont use dont buy, they dont response emails only resend links and say about risk disclosure, they are scam.

After my first review. The support team adjusted my robot and surprisingly it's starting to make profitable orders. 4 days without dropping any order. Gains only. Hope this is the start of good things. I can not adjust the lot size. Might come back with another update. So let's keep putting pressure on the technical support team. They might make a difference to many customers.
Cheers for now.

Jun 2, 2020 - 1 Star FRT ODIN robot is fake. I have tried it on different platform providers but to be frank with you. It's a worst of money. All the accounts kept losing money. The technical guys are good at blaming the platform providers. At first I was told that it's will transform your forex trading and it generates pips like no other. That's the opposite. That's why they do not give refund or give you days of testing it. If you have money plse give it to charity. I could not afford to lose more money by putting it on a live account. I read May be 40 reviews on other sites but decided to ignore them. I was very very silly.