OHLSEN TRADING Review

Jun 7, 2021 10:32 AM ET
OHLSEN TRADING Review

Assuring traders of a monthly gain of 4% to 13% and a 99%-win rate, Ohlsen Trading provides a thirty-day trial period. Forex traders can use this signal provider for the trial period and test its reliability before subscribing to the service. The vendor promises a hassle-free and completely effortless trading experience with its efficient service.

OHLSEN TRADING features

Table 1 OHLSEN TRADING

Type

Copy Trading Service

Price

€60 to €65 per month

Strategy

Technical Analysis

Compatible Platforms

MT4

Currency Pairs

Any

Timeframe

Any

Recommended Min. Deposit

$1000

Recommended Deposit

$5000

Leverage

Any

Trading Strategy Explanation

OHLSEN TRADING trading results

As a Forex signal provider, this vendor uses different methods to generate the signals that its subscribers use. According to the company traders without prior knowledge of trading can use a profitable approach with these signals. The Telegram app is used for sending signals. 

Using the copy trading features starts with the registration process for which you need to provide the info like broker name and MT4 account credentials. The next step is using the VPS server of the company from which you can copy the trades. 

Regarding the settings, the vendor applies its client-EA to your MT4 account which it downloads to its server. After making the necessary optimizations as per your trading order or by using the default settings, the copy trading process begins. 

Concerning the strategy used, the vendor does not divulge info on the approach used. But states that the approach helps in profits for 99% of the executed trades. The vendor also mentions the small-sized profits, but of a larger number instead of making big profits for a lesser number of trades. This helps the system make steady growth in profits.

Backtest Data Analysis

No backtest data is provided by the vendor, which is disappointing, as there is mention of an experience in Forex trading over 4 to 5 years and the use of different strategies. While it is not good to depend on the backtest performance alone for assessing a system, the strategy tester reports reveal important information about the approach used and the performance. With the absence of backtests, we are suspicious of the dependability of the service.

Live Trading Data Analysis

Trading Results

Myfxbook Account

Real (USD), Pepperstone

Started

March 05, 2021

Deposit

Hidden

Balance

Hidden

Gain

27.27%

Daily

0.27%

Monthly

8.47%

Drawdown

26.00%

Profitability

54.07

Here are a few screenshots of the trading results of this service with the track record and trading privileges authenticated by the myfxbook site. 

OHLSEN TRADING trading results

OHLSEN TRADING trading results

From the trading account info, we can see that the real USD account uses automated trading on the MT4 platform with a total gain of 27.27% and an absolute gain value of 12.2%. The difference between the two values indicates that the approach used is a risky method. A daily and monthly profit percentage of 0.27% and 8.47% is shown. The drawdown for this account is 26% which is higher than what a trader would feel comfortable with. Any value above 20% indicates the risk level is high and caution is needed in executing such trades.  

Besides the above stats, the account does not reveal info such as the balance, equity, profit, average win, lots, commissions, etc. Even the trading history data is hidden. There are not many reasons for a vendor to hide the trading data. Obviously, the performance and approach used are not of the low-risk type, which the vendor does not wish to reveal. This raises a red flag and makes us doubt the dependability of the service.

Customer Reviews

While the vendor mentions the Forexpeacearmy and the Trustpilot sites on the official site we found reviews from users only on the Trustpilot site. There are just two reviews posted by users for January. Here is a screenshot of the reviews:

OHLSEN TRADING Customer Reviews

While the feedback is positive, the absence of recent reviews and the low number of reviews indicate the service is not a popular one.

Review Summary

Pros

  • Fully automated copy trading

  • Verified results

Cons

  • Hidden data in trading results 

  • High drawdown

  • No explanation provided for the strategy

Conclusion 

Among the various copy trading services available now, Ohlsen Trading attempts to stand out with its promise of a 99%-win rate and verified results. But a closer look at the results reveals that the vendor has not revealed the crucial stats like the lots, lot sizes, pips, and more. Without data to verify the authenticity of the trading approach, we feel that this is not a reliable company. Further our conclusion is not based on the poor trading results alone. The lack of backtests and the absence of explanation of the trading approach confirm our suspicion that this is not a trustworthy copy trading service. While the reviews are positive, they are not recent. In short, we do find this service is not a legitimate trading service.

Rating: 4.8/10


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