Well not really. Trados could be related with WordFast in the way they work. Omegat extraxt the text from the source file and it works in a text editor (as many files a s you want per project. You can import multiple glossaries and TMs as well. You can translate a project with several active Tms. Omegat is an open source apps. therefore... free. You can visit
www.omegat.org to get more accurate info.