Forex Olympus claims to generate insane profits from the powerful price momentum as an impact of the Covid-19 pandemic. This MT4 tool by Rita Lasker uses profitable signals based on Trend power identification for sending accurate trade signals. As an indicator using a predictive algorithm, Forex Olympus promises to consistently multiply your returns. As per the vendor, this high-performance indicator is fully programmed to make trading effortless.
Is this indicator a good trading system to use?
Created by Rita Lasker of the Green Forex Group, this indicator guarantees plenty of wins with little or no effort. The vendor does not reveal further details of the developer other than the mention of Rita Lasker being a pen name used for protecting the privacy of the author. We could not find the location info or other vendor details as the site does not provide any. As for customer support options, there is just an online contact form.
The indicator is designed to work on all popular currency pairs and uses time frames including M15, M30, H1, and H4. Important features include identifying the current trend, accurate signal creation with the help of an exclusive algorithm, three notification methods, three trading modes, and 24/7 support. The vendor claims that this indicator does not repaint. We are disappointed that there is no mention of the strategy used.
How to start trading with Forex Olympus
The indicator is priced at $129 which is a discounted offer from the original price of $429. Features provided are trading application, profitable signals, trend power detector, user guide, and email support. As per the site info, the discounted offer is available only for 300 members. A 30-day refund guarantee is provided wherein you can try the MT4 tool for 30 days and if you are not convinced with the outcomes, you can ask for a refund.
As per the vendor recommendation, a small deposit of $100 is the minimum balance needed. Once you purchase the product, the signals are sent to you using which you can trade efficiently. The vendor also offers a kit that includes the indicator and an EA for $228. This price is also a discounted rate from the earlier price of $757. The features provided include signals, notification, trading levels, robotic trading, exit options, and full autonomy.
Forex Olympus Backtests
Strategy tester reports are vital features that traders look for when considering a trading system whether it is a signal/indicator/robot. The backtests reveal plenty of info about the MT4 tool like its profit, drawdown, lots, etc. Details like the spread, slippage, and commission are also looked for in a strategy tester report. But since the vendor does not provide backtests, we are unable to know about the approach used and its efficacy.
Instead of providing tested results for the trading done using the signals sent by this indicator, the site provides screenshots of the trades done. Find below a few of the images from the site.
From the above images, it is clear that the vendor does not intend to disclose pertinent details of the trading like the drawdown, lot sizes, profit, balance, etc. Rather there is just info about the pips gained and the timeframe used for the trades. Without a proven track record, it is difficult to assess the reliability of this FX trading tool. Furthermore, the lack of backtests reveals that the vendor is not transparent about the results attained.
Trading modes and alerts
Some chief features in this indicator include the alerts and categories for trading. The notifications features include pop-up alerts, email alerts, and push notifications via your phone or PC. With the trading modes, the vendor provides traders an opportunity to customize their trading based on the risk level they are comfortable about. The methods include moderate, neutral, and intense mode.
While the vendor provides testimonials from users, these have a high chance of being manipulated. We could not find feedback for this indicator on reputed sites like Forexpeacearmy, Trustpilot, etc. The lack of user reviews denotes the system is not a popular one among traders.
- Trading software with lifetime license
- Money-back offer
- No verified trading results
- The trading approach is not disclosed
As an FX indicator assuring unbelievable profits, Forex Olympus fails to give adequate proof of real results. Rita Lasker does not disclose the trading approach used. Furthermore, no backtests are provided. While trading screenshots are revealed, they do not reveal crucial information that a trader needs to know like the drawdown, risk to reward ratio, lot size, and more. A discounted price is offered which looks affordable compared to the prevailing rates. However, the lack of user feedback and absence of vendor transparency concerning the strategy, results, and backtests confirm that this is not a trustworthy system.