Excellent returns on investment at a small fee is the promise by Ohlsen Trading. This signal provider uses different methods to generate its signals for traders so they get a successful trading experience without prior knowledge of the field. Copy trading is the popular method this company uses for its signals. If you have your MT4 account set up and good to go, this service can help you make appreciable returns as per the vendor’s claim.
Detailed Forex Signal Review
The website is well-made with separate sections for the trading results, FAQ, user account, and Login. On the home page, the vendor provides the main info such as the features, working method, and contact details. Unfortunately, we could not find info related to the developer or team responsible for the signal generation. Contact for support is via email and through the Instagram account. There is no location address or phone contact provided.
Features provided include the promise of extraordinary results, a thirty-day trial for a small fee, and cheap pricing. According to the vendor, you need not do any work with the copy trading solution offered here. For becoming a subscriber, you need to register with a broker with MT4 access and you are all set to receive the copy trades.
OHLSEN TRADING Strategy Tests
While the strategy used is not disclosed, the vendor describes the approach used now as the best as it provides a profit for 99% of the trades. This is possible due to the smaller profits but from several trades for more than 50% of the total trades which is why the service has seen steady growth.
With nearly 5 years of experience in different markets particularly the Forex market, this company profits about 4% to 13% per month and claims that the maximum drawdowns are based on the specific subscription plan you choose. Since there are no backtests provided on the site, we are unable to verify the claims on the successful strategy.
Live Account Trading Results
A real live USD account result verified by the myfxbook site is shown by the vendor. Here are a few screenshots of the result:
From the trading stats, we can see the account that started trading in March 2021 has made a total profit of 27.27% and an absolute gain of 12.2%. The difference in the two values and the fact that the deposits are hidden indicate that the approach used has not produced the results claimed by the vendor.
The drawdown is 26% and the daily and monthly profits are 0.25% and 8.47% respectively. We are disappointed to note that most of the trading history is hidden. This raises a red flag.
From the values revealed we find the total number of trades is 28 and 286.5 pips have been made with the profit factor being 54.07. Such a high profit factor along with a drawdown of 26% makes us suspect that the performance is volatile and not to be relied upon.
Two subscription plans are present for this service. For €60 per month, you get 24/5 copy trading and fully automated service without any hidden fee. A 4% monthly gain is assured with this plan. A second plan that costs €65 per month is provided assuring 13% monthly gain besides the other features of the former plan. No moneyback assurance is provided. Compared to the competitor services that offer similar subscription plans, the cost is not too expensive. But the features provided are very minimal.
We found two reviews for the service on the Trustpilot site with a total rating of 3.8/5. Categorized under the investment services, clients using this company’s services find that the results are as promised. Here are the screenshots of the user responses.
Ohlsen Trading boasts of extraordinary results with its copy trading and signal solutions. But from our analysis, we find that this is far from true. To begin with, the trading approach is not divulged by the vendor. As the success of the signals is based on the approach used, not revealing it makes us suspect that this is not a reliable service.
Further, the minimal customer support options and lack of vendor transparency also raise doubts about the company. While real and live account trading results verified by the myfxbook site are shown by the vendor, the stats disappoint us.
With most of the details hidden we feel that this vendor is not transparent about the results achieved and the approach used in addition to not revealing company info. In short, we find there is not much to recommend this service.