Omega Trend Indicator Review: is it a Scam?

After constantly changing their website, we have the full details in this Omega Trend Indicator (Omegatrendindicator.com) review. They are currently going under the name FX Automater, whose address is fxautomater.com. Once you click on Omega’s homepage, you will be directed to FXAutomater’s website. From here, you will get to choose several indicators and signals to choose from. And this is why we had to conduct a thorough review of this platform. There is no way of telling which product is transparent.

About Omega Trend Indicator

Built by the FX Automater team, the indicator feels that they can help traders become more successful. There are four strategies available with this indicator, which shows the professionalism of the developer. It seems that the developer knows what they are doing when it comes to the indicators. Before we delve deeper into the platform, there are a few things to mention. When it comes to online trading, the safety of investments should be a significant concern.

Why using Trading robots is the best move

• Accuracy of trades

Unlike humans who don’t always have the best accuracy, these robots try to furnish traders with the best accuracy.

High profit returns is what these robots are after and tests indicate most of these recommended forex robots hit over 80 percent successful ROI.

• Great customer support

You obviously want a platform that’s available to help you when needed. Most of our recommended trading robots offer reliable 24/7 support.

Conventional crypto methods of trading such as brokers may not be there to help you with any issues faced.

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• Portfolio diversification

Traders can run multiple accounts using robots and thus, increase the trader’s portfolio diversification. You get to run multiple accounts and strategies and benefiting from robots that do all the heavy lifting.

• Increased accuracy

Manual trading creates a lot of errors especially those related to currency pairs, execution price, and position size. Algorithmic trading helps keep such issues out of bay as the bot have a more accurate sense of taste for the market.

• Minimize trading costs

Bots help identify optimal market entry and exit points. It takes into consideration account liquidity levels not forgetting market volatility. These bots ensure brokerage fees are minimal and bring in maximum profitability.

• Identify trading opportunities

Conducting market analysis is time consuming for most part especially when humans take all the role in it. You need a more defined aspect of trading before you get the idea of how it works. Robots work like a well-oiled machine that helps create better opportunities.

• Copy trading

Here’s another revolutionary way to invest in the markets. You automatically copy trades made by successful traders on the platform. You don’t have to be a qualified programmer or have a strategy to come up with some of the trades. A simple click does the work for you.

Omega Trend Indicator is a platform that shows promise, especially in their delivery of services. On their homepage, the platform starts by giving users the setup information. It is rare to see this as most developers leave this crucial part out. They claim that when putting the system together, they wanted to provide clear signals. When developing the indicators, they wanted to make sure the products were compatible with all market assets. And this shows the level of expertise the developer has when it comes to creating reliable indicators.

Assets covered by the indicator

From an image provided by their website, the platform seems to be using major currencies. They include AUD/JPY, AUD/USD, CHF/JPY, EUR/AUD, EUR/USD, and many more. The platform claims to offer one real account and three demo accounts. They offer a 60-day money-back guarantee, which is a welcome feature for newbies. For those that feel the indicator is not working for them, they can demand their funds. We are not sure whether the money-back process takes longer or is immediate.

Business developer

Lachezar Krastev is the person who runs and operates the FX Automater team. He is currently based in Bulgaria, and they have produced over 20 trading tools. With several tools under their belt, it is clear to see that this platform is promising. The only problem is that the platform gives no information on other members. They should be transparent on who the staff members are when it comes to trading. And this is why we need to dive deeper into the setup of Lachezar and his products.

Comments and feedback from members

As far as we are concerned, there have been no positive or negative comments on the indicators. And this could mean that the indicator was not well received by the trading community. It sometimes happens that a known developer has a questionable product. Most of the trading community has not used this robot, although they praise his other products. The reason why the indicator is not gaining any traction is not known to us. We believe that marketing is the issue as the developer is not utilizing the marketing aspect.

Consent, license, and registration of Omega Trend Indicator

Omega Trend Indicator is far from being a licensed entity as far as we are concerned. And this is a problem that is likely the cause of the indicator backfiring. Investors want to use products that have a permit from regulators. They want to go for products that cover insurance for funds deposited. Without a valid license, the indicator becomes a risk to investors. There is no guarantee that the indicator will work as promised. With regulation, users would feel in safer hands with the indicator.

And this has been a problem with most of his products. They don’t get the recognition they deserve due to regulation. With over eight years in the industry, the developer should have by now applied for a license. There are stringent measures that regulators take to ensure investors are safe. And this is the reason why most developers opt to offer their products without having a valid permit. Investors should buy the indicator, knowing that there is no regulatory compliance.

Domain information

A closer look at their domain history reveals all that we expected. The platform has a decent online presence going back to 2013. Their site went live on 15^th February 2013. And this goes to show that the platform has been around for some time.  The reason why they switched to FX Automater remains a mystery. It seems that the developer wants to sell all his products under one roof. There is a risk to this line of thought. If one product is seen as a risk, investors will associate the risk to other products.

Features of Omega Trend Indicator

For users who signed up a while back, the indicator was going for free. And this was another questionable move as there are no free things in the online trading world. There have to be some strings attached to this platform. From the look of things, the platform was going for free to attract investors. When doing this review, the platform is now selling at $77 down from the original price of $97. It seems that the developer has attracted some investors and now wants to make a profit.

Positives and negatives of Omega Trend Indicator

Available price

The package is going for 20 percent off the price tag of $97. They fail to mention whether this is a onetime deal or monthly or yearly subscription. Users should not buy an indicator, not knowing the actual package. A recurring price will ensure users understand whether the indicator is worth it. Without the exact features being names on the products, we are facing another problem. The platform is out to make sales and not deliver. They should be upfront on the features available with the package.

Contact and support

They have not been updating any of their social media posts for a while. And this is worrisome for a platform that is claiming to be reliable. The contact page is a message box where users leave their messages. They should expect a response via email, which is not convincing. The problem with emails is that they take the time to get a response. They should have indicated a phone number or offered live chat support. With all the products under one roof, the answer is not as quick as expected.

Results and trading strategy of Omega Trend Indicator

Although the platform has listed their trading strategies, they don’t give the full details. The strategies used include early movers, market break detection, and upper and lower volatility estimates. The last strategy used is scalping, which is a common strategy. They fail to give users proper information on the available results. They should have posted their results on myfxbook for all to see. And this is the reason why we insist that traders should be extra careful with this indicator.

Scam or Legit Omega Trend Indicator

Omega Trend Indicator is unclear on their results, which means it is hard to trust them. The developer should be upfront with the results. They should be more open instead of selling an unproven indicator. Even with their years of experience, they should by now have a better way of proving their results. It is for this reason that we won’t be recommending any of Lechazar’s products.

Closing remarks

There is no other way of selling this platform if they don’t have actual trading results. With no third-party verifying the results, this remains to be a huge disappointment.

 Ensure you choose expert backed trading tools with a proven track record.