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FRT: Odin Forex Robot Review

Odin Forex Robot is another expert advisor sold by the ForexRobotTrader.com team. They promote this robot, as “an unrivaled expert advisor with brutal trading accuracy.” The sales page includes profit numbers which claim the system gained $165,176 in the past month, and over $1,606,651 so far this year. These numbers are extremely high, which certainly triggers a healthy level of skepticism, as it’s hard to believe any Forex robot is consistently achieving these winnings.

Even though the creator, Don Steinitz passed, the ForexRobotTrader.com team has not updated their about us page, as it’s still his biography. The website likely changed ownership with his passing, but there is no information provided about this new group, their trading experience, or where they are located. It’s rumored that the team that took over this property are marketers, and not traders. This is not ideal, but it doesn’t necessarily mean that the quality of their products are diminished in any way. In order to get in touch with support, traders can create a ticket in their contact platform.

Odin Forex Robot Review

Currently rated their most popular Forex robot, the Odin Forex Robot took this title from the Vader Forex Robot, an EA we reviewed a few months ago. There have been quite a few comments from the community in both the Vader review, and the ForexRobotTrader.com review as well. So, make sure that you check those out for a full balanced report from the Forex Robot Nation community.

The FRT team advertise the 6 aspects that every trader should know about their software. It is fully automated, their most popular, comes with optimize settings, a broker shield, easy setup instructions and a “legendary grid trading strategy.” According to the developers, the strategy uses real-time analysis to distinguish the most effective entry and exit points with no lag. There is no real insight into this strategy outside of a few over arcing statements, as they try to keep their sales pages simple and straightforward as possible in order to attract new traders. There is a mention of tight stop losses, and take profits, but nothing in depth.

Trading strategy is important, and it’s especially important when dealing with a grid trading approach. Historically, grid trading expert advisors destroy accounts by opening too many trades a one time, and having an entire basket of trades go in the wrong direction. In order to feel safe with this robot, or any other grid trader, there needs to be a detailed explanation as to how the vendor is avoiding these common pitfalls.

Breakdown

  • Type: Forex Robot
  • Price: $129
  • Strategy: Grid
  • Timeframe: Undisclosed
  • Pairs: USDSGD, EURCAD, NZDJPY, EURCHF, EURGBP, NZDCHF, USDJPY, EURUSD, GBPCAD, EURAUD, EURNZD, USDCHF, AUDCHF

According to the sales page, The Odin Forex Robot usually goes for $199, but is currently on sale with a 35% discount for $129. With the purchase, traders also get access to a free Forex robot, which they can choose from the Forex Robot Trader product line. Traders can pick one of the following systems, HAS Forex Robot, Hedge Forex Robot, Fractal Breakout Indicator, Pterodactyl Forex Robot, Directional Forex Robot, WaveRunner Forex Robot, Volatility Forex Robot, or Equity Trail Forex Robot. In the near future, we will provide reviews for each of these products as well, so look forward to these in the coming months.

Theree doesn’t seem to be any information about live or demo account license limitations, which is an odd omission. It’s safe to assume, that the vendor provides a single license for a single trading account with each purchase.

Trading Results

The ForexRobotTrader.com group are frequently maligned by the public for their trading results. With promises in the millions of dollars, and the tens of thousands and pips, the community expectations are always skyhigh when first signing up with the Odin Forex Robot. Yet, the results are scrutinized aggressively because the vendor refuses to provide verified performance reports.

They do provide trading statements, which is better than screenshots, but these statements are not verified by a third-party website like Myfxbook or FX Blue. So, while the results look extremely impressive and show major gains on a monthly basis, the overwhelming opinion from the community, is that they are simply not real.

This is obviously an issue, and a major one which could easily be resolved by the vendors with a simple 5 minute upload of their trading statement.

2021 Update

When it comes to the Odin Forex Robot, it always comes down to the trading results. It doesn’t matter how many times I pour over their aesthetically pleasing website, I always come back to the results.

At this point, all I can do is keep asking for the vendors to provide a verified Myfxbook account, and drop their results rating down in the review.

The only reason for not providing verified results in 2021, is if the robot just can’t cut it.

Client Feedback

With over 240 reviews on Forex Peace Army, the Odin Forex Robot and the ForexRobotTrader.com team have a 2.4 out of 5 star rating.

Considering the promises of large profits, the overall client base is quite disappointed by the performance of these robots. It’s possible that the vendor isn’t uploading their treatment statement to verified statement sharing services, because they are hiding something. The community seems to be in line with that opinion.

Conclusion

At this point in time, the Odin Forex Robot, by ForexRobotTrader.com is not a recommended product. The vendor could do a lot for their reputation by simply proving to the community that their results are real, by uploading their trading statements to Myfxbook or FX Blue. Until they do this, the community is going to remain skeptical, and we are going to follow suit.

If you have anything you would like to add to the review, please leave your questions and remarks below the article now.

Odin Forex Robot $129.00
  • Pricing
  • Strategy
  • Trading Results
  • Client Feedback
  • Customer Support

Summary

Odin Forex Robot is a ForexRobotTrader.com expert advisor. It’s their most popular system, but I’ve yet to come across a trader with a winning account history to show off.

Overall
2.7
Comments Rating 1.5 (2 reviews)

Pros

Popular product
Free bonus
Low price
Responsive support

Cons

Grid strategy
No strategy insight
No verified results
Poor reputation

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

72 comments

  1. I want a trading robot

  2. PLS, SEND YOUR SETTING.

  3. i had bought odin software last 5 months ago,i had fix that odin with my last account which i do not use now,i want to change from that account to my present new account,if your team access me to do so then i will be very thankful

  4. Robots are actually tools to assist you to trade. The developer of ODIN has done a good job allowing us to tweak the settings to meet different market conditions and trading style.

    For those that don’t know how to setup the robot, and think that it is crap, I can tell you that the robot can work wonders and give you 100% winning trades. I do not know other people’s trading style, as such here is the simplest setup that i tested that might suit everybody using ODIN.

    1) open the Expert Advisor properties and scroll down to ### ODIN SETTINGS ### and follow this settings

    odin_method: Low_Risk
    odin_signal_reverse: true

    2) Sroll up to ### LOT SIZE SETTINGS ### do this changes
    lot_size_method: Manual Input
    lot_manual_size: 0.01 (you can change this later)

    3) ### PAIR SETTINGS ### section
    base_tf: M15

    4) ### STOP LOSS SETTINGS ### section
    sl_method: Manual_Stop_Loss
    manual_sl_pips: 30
    hide_sl: true

    5) ### TAKE PROFIT SETTINGS ### section
    tp_method: Manual _Take_Profit
    manual_tp_pips: 10
    hide_tp: true

    Tomorrow is Monday he start of a new week for trading. Hope someone can post their results after following the suggested settings, as I think myfxbook has problems with mail delivery. Still have not got my activation link even when i registered using gmail. I have send mail to their support and do not get ay reply. So i can’t post my trading results to myxbook.

    Back to ODIN. If you are not getting any profit from my settings recommendation, try lowering manual_tp_pips.

    If you starts making profit, gradually increase manual_tp_pips, lot_manual_size, minimum_margin_percent.

    As I said market condition changes and sometimes some news will turn the market direction. If later on, the settings are not profitable anymore, you just needs to change odin_signal_reverse: false.

    That’s all to making ODIN work. I hope this will help everyone using ODIN.

  5. i bought odin robot from another website and it works very well for me, so am very surprise why most traders comment negatively here.

  6. Hi all,

    I have tried and uses a lot of EAs, be it automated or indicators.

    I bought ODIN way back in July 2020 and started using it on my trades. Yes , I agree with everyone that it doesn’t work. I gave up on the robot.

    3 days ago I attached ODIN again to one of my trading account and started tweaking the settings. Voila! Never lost any trades since doing the right setup. 100% winning trades. Now i just installed a copy trade software to copy all trades fro ODIN o my other accounts.

    I think ODIN was designed for large capital and long term trades, Most probably on H1 and above. I have tried running on M1 to M30 with my setup and it never fails to bring in profit without any losses up to now.

    To me ODIN is truly the world’s no 1 Forex robot. Now I am only monitoring the trades on my phone, without ever executing my own trades.

    Hope this comment will enlighten some of you to try to do the right setup.

    • Hi Azhar, I don’t want to cast doubt on your experience, but I do want to make note of the fact that it’s been three days. Historically, the readers here have not had success with the Odin Forex Robot. I hope that you will post your Myfxbook account here for us so that we can follow along with your journey.

    • hope you do not bought yours from this site here, because i noticed that most traders comment negatively are this site patronage.

    • To make it work, it is very important for you to set the SL and TP variables and method. Don’t forget to make sure the right setup in ### LOT SIZE SETTING ### setion.

  7. I nearly bought Odin but after several emails asking for information and no reply but from a autoresponder I got blocked by them for telling them that their support sucks.. thus my opinion, its a scam stay away

    • Really sorry to hear that, but I’m glad that you decided to email first. It’s a great strategy to see how fast and helpful support is before signing up with any program.

      • Mtf Hedge

        When Don Steinitz was alive he was a very funny guy and would answer your email even if it was late at night I stil got the original emails from him over 10 years ago . One of his best Ea I would say is the MTF Hedge EA aka forex no loss Ea ( a lot of people got confuse when he said this bc what he meant was you be up every month . It literally losses . I had a bad broker and they would stop hunt my account everyday . And also increasing the spreads later which messed up his parameters back then . Then the govt introduce fifo which mess with us more . But I ran the Ea and I had 2 different brokers and I manage to grow the account an an average 5% to 10% a day . The algorithm was pretty neat only one caveat and if he was alive would help him tweak it to its full potential . I believe his son took over the business and I’m not sure if he understands his dads passion to helping ppl and creating the best Ea . Sometimes I feel it’s just the same with a different babe and body . But hands down I think ppl should redo the MTF hedge Ea. It basicslly waits for a crossover scanning all timeframes from monthly down to 5 minute when it comes across the first countertrend it’ll wait for the price to continue with the main trend to get in and take a certain tp. (Mitchell if you reading this change the code to tell the Ea to exit the trade if the crossover is not in sync with the trade . )

  8. i have Paid for the Odin Robot 2 days ago, but waiting untill today, no response at all from seller ?
    already email and got case/ ticket number.

    Please reply or would think that it is scam

  9. FAITH IKECHINEKE

    I I’ll appreciate anyone who would guide me to buy correct forex robot.
    Thank you.

  10. ya, hate to say it but Odin is garbage ! After a week I could tell I don’t like the strategy, it will open a trade on the trend but problem is the trend is over, too late, then trade reverses to SL. I think out of 12 trades 10 of them lost, good thing I was using 0.01 lots. I am asking for a refund but crossing fingers on that ? I don’t see how anyone can say they are in profit with this crap ? My fault I didn’t research it enough before buying.

  11. I use standart setting for odin, and its work. its a great ea

  12. I didnt pay attention to the bad reviews about Odin because I was happy with a free robot they give out on their website. It turned out to be a free robot being worked on elsewhere. Odin is a terrible choice. It loses money all the time. If there is a setting to make it work, Custome service wont tell you other than just use the default option, which doesnt work either.

    When i complained, they recommended me to buy another Ea from them to make Odin work. When I complained, they blocked me from sending the further emails.

    I also tried their Volatility Channel, which doesnt work either.

  13. Hi to everybody. I bought the ODIN EA in September. I am going to share my account so everyone can see how good or bad this EA really is. I have seen some negative comments about the EA and the company that sells it. As far as customer service is concerned I dont have problems with FRT. They answered my emails within 24hrs. They offered to send me customised version of the ODIN EA within 4 business days, and they did even though that included xmas.

    I only started trading in September and the account is not profitable at this time. I have used other EAs and traded manually so up to this date its not all down to the ODIN EA

    Firstly, I am using a VPS. Its located in UK and running MT4 with Oanda. Its a live account.

    “Out of the box” settings have not produced very good results. I contacted FRT and they have sent me custom EAs for the currency pairs I chose. I am now running ODIN on the same account with no other manual trades or EAs.

    As far as i am aware no one else is running a live account with the ODIN EA so for those who are interested here is the link

    http://www.myfxbook.com/members/Jarida/odin/4026853

    The above results are from Sept.2019 to December 30th 2019. Whatever happens now is down to ODIN with the custom settings.

    • Thanks for showing your results on myfxbook – shows how bad the EA is. FRT should be ashamed of posting false results on their website. I was nearly going to buy the EA but thought I will research before hitting the buy button. I will stick to the GridTrentMultipler from Expert4x…

  14. Don’t buy it. Look at the statement.

    in pdf

  15. MORADIYA BHAVESH S

    Odin very bad EA I lost 1000 ours in two months with this EA, all the products well advertised but none of them working well please don’t buy it

  16. I purchased this EA and it is a scam plain and simple. They use automated software to publish results right up to the previous day. The results they report always show over a 90% win rate and over 20.0 profit factor. They are totally bogus. I tested this EA on a super-fast VPN server and a broker with tight spreads but I could never get more than a 50% win rate and only occasionally would it brake even.

  17. So right out the bat with stock settings this EA is not good. at all. I found the trick to working on this EA to get profits out of it is to turn TP off all together. Set a medium (20pips) trailing stop, use m30 time frame, and set it to exit un reverse signal. That last setting is the major key. it will catch the big price movements while keeping profits going unit it changes direction. I use it on my real account and winning more than losing.

  18. I was so excited to read some skewed comments, I have bought robat from FRT Hadge whose quality is below Odin,
    I have tried on a demo account for 3 years and the results are very good, I understand Hadge’s performance, not all use high lots of 1.00 or 0.01, some must use lots of 0.01 – 0.03 depending on market conditions. And the results I get from one of the FRT EAs deposit & 500 to $ 3,371 in 4 months with Hadge. I will try to buy Odin and study it first before plunging into the trading market.

  19. very bad robot i have waste my 129 dolllor.my account is going red direction with using odin robot.

  20. Odin very bad AE I lost 1000 ours in two months with this EAs all they products well advertised but non of them working well please don’t buy it .

  21. I have spent hours and hours with the Odin robot, but I continue to struggle.

    I am a talented Forex trader, but my results do not match up with the vendors at all. Every time I email them, I get a nonsensical response.

    I don’t think it works, and I don’t think it ever will.

  22. Jeroen Van Cauwenberghe

    Odin and all the other EA’s from FRT need to be thoroughly tested using backtesting using tick date at 99.9% accuracy. You will then see that Odin is the worst of all the EA’s offered by FRT. It’s only profitable in 2 currency pair, whatever the setting are. The other EA’s do better, but all need to be tested. You can then run a demo account with all the EA’s you purchased and the profitable pairs. If you go live after a positive demo for a month, you will have a profitable setup using FRT EA’s.

  23. This is an honest review from a person who has tried Odin for 3 straight weeks. If you’re thinking of buying Odin or probably any of the other Robots the company is offering just know you’re wasting your time, nerves, and money onto something not legit at all !!!!.
    what happend to me will probably happen to you also, you will buy Odin and try it for the first day, 4 days if you’re patient, then you’ll realise it’s not generating any profit for you, so you email them. they’ll tell you that u need to wait for 3 weeks to see results, so you wait, but then u look on FRT website and find out that Odin had impressive results even in the first 3 days, so you start doubting again and u email them, they’ll tell you we’ll create a new settings for you but you’ll have to wait 4 business days. and then that’s it !!!! they’ll disapear they’ll scam you off your money, they won’t make you any adjusted settings custom or anything…i’ve learnt a big lesson, never trust any company that sells robots. the best way of trading is to trade manually… please save your money and time and dont fall for thier tricks.

    • Sylas96 I did the same with Vader 2-3 yrs ago for 5-6 weeks …lost $$.. and I believe you I know the filing thank you…. in a last 2 yrs I-m building my own robot hopefully I will succeed… required a lot of work

    • Please Sylas96. Pleace, test a strategy I will tell you. 🙂 Use Odin on a demo account and then use a copy service that will open the opposite positions that odin did in an other account. I don’t have Odin, but I am a tech savy guy, so I think this may work. Please test and give us back results.

  24. Scam!!!
    Scam!!!
    Scam!!!

    Repeating every moment cuz it is a really, such, so, very important truth.
    I’m the user of Odin.
    Do Odin have not been given me a cent till now!!!
    I hate CHEATER!!!

  25. I have bought about 4 different EA from them with all not show the type of numbers they have in their demo. What a scam do not buy these EA never again !!!

  26. Never made any money with this robot. fortunately only ever used it on a demo account. Published trading figures and claims are ficticious.

  27. Karabo Tshidiso Modisane

    JUST LOST ALL MY MONEY USING THIS ROBOT CAN U PLS REFUND ME BACK MY MONEY U GUYS ARE SELLING NONSES………ODIN IS A SCAM GUYS EVEN THEIR SUPPORT ARE DODGY PURE SCAM RUN

  28. i bought odin last week, and so far my account is “red” hahahaha

  29. Crappiest robot around fam, dont let them fool ya

  30. Is this support to fbs broker ???
    How much minimum want to deposit to work in this EA ??

  31. Hey Team,

    Can you please guide me with any EA or robot which can give nearly about 5% profit a month. ? is that possible

  32. This product is listed as a GRID system.
    In practice most GRID systems achieve there results by increasing the trading level – i.e. 1 x lots LOST, 2 x lots LOST then 4 x lots WON – enough to take total into profit. The PIPs generated is frequently ZERO or less and certainly NO reflection of the strategy – hence the HUGE pip achievements would seem unlikely if this is a GRID trading system

  33. I use this and do not have the problems you mention. Are you testing this? Where is the data? Your review is based on opinions?

  34. I used this when I first started in Forex.

    Odin disappointed.

    The results they show on the Forex Robot Trader website never matched up with mine. In fact, they were stark opposites in many cases.

    • Dear Celina,

      As you have tested Odin as well as some other robots.. can you please guide me with anyone you prefer that would be less risky…?

      • FRT ODIN is just scam. They reassured me that the negative feedback they got was down to competitors but I have tested it myself and they keep asking you about margin and account balance but it’s all part of the scheme to just run you down. All they claim about Odin making money that’s rubbish. My demo account of 10000 went down to 5000 in two weeks. If was not using a separate robot to close total loses I bet the account would have run out of money in a week. They are very good at reassuring and surprisingly they will ask whether you are now using their robot on a live account and yet I tried it on seven platform providers and all accounts were running a loss. They keep blaming the platform providers and that’s not true. Better you earn forex trading the manual way. Worst of money.

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