Happy Forex assures of low risk and stable profits. It is a fully automated MT4 tool that uses the grid approach for identifying profitable trades. The ATS uses technical analysis and news filters for ensuring accuracy. This FX EA has 3 trade sets in a single system. You can use it on any currency pair with customizable settings and options.
Is it a viable FX robot?
As part of the expert advisors from the Happy Forex group, this FX EA is designed to work 24/7. The main features that give it a competitive edge are:
- It is easy to set up.
- The FX EA is 100% automated.
- Automatically detects 4 or 5-digit quotes.
- The FX robot supports ECN brokers.
- It works on the GBPUSD, AUDUSD, EURUSD, and EURCHF pairs.
As per the vendor, this FX robot uses the grid method that includes the use of reinsurance positions without increasing the lot size as in the Martingale method. The absence of the Martingale method reduces the risk factor. Further, the robot also uses technical evaluation for making safe entries along with news filters.
The Happy Forex group is reputed for its effective range of expert advisors and other FX tools. Since 2016, the company has been producing EAs that have become popular for their effective approach and ease of use. Other products of the company include Happy Martigrid, Happy Way, Happy Neuron, etc.
How to start trading with Happy Forex
To purchase this FX EA, you need to pay € 299 (2 licenses) or € 499 (5 licenses). The package includes 10 EAs from the Happy Forex group including Happy Forex EA. A 30% discount offer on the price and a bonus indicator is part of the package. Other features you get include a user guide, free updates, free upgrades, and a 30-day money-back guarantee. When compared to the market average, we find the price is very affordable. Further, the presence of a refund offer indicates the reliability of the system.
Some of the recommendations for using this FX EA are:
- It works on a micro, mini, or standard account.
- A timeframe of H1 is used by the EA.
- It works mainly on the MT4 terminal.
The minimal deposit depends on the type of setting you select. The recommendations are as follows:
Setting 1 (for GBPUSD, AUDUSD)
- For a micro account of 0.05 lot size, $1000 is recommended
- For a mini account of 0.5 lot size, $10,000 is recommended
- For a standard account of 5 lots, $100,000 is recommended
Setting 2 (for GBPUSD, AUDUSD, EURUSD)
- For a micro account of 0.01 lot size, $200 is recommended
- For a mini account of 0.1 lot size, $2,000 is recommended
- For a standard account of 1 lot size, $200,000 is recommended
Setting 3 (for EURCHF, AUDUSD)
- For a micro account of 0.01 lot size, $1000 is recommended
- For a mini account of0.1 lot size, $10,000 is recommended
- For a standard account of 1 lot size, $100,000 is recommended
Happy Forex backtests
The vendor provides a backtesting report for the FX EA. Here is a screenshot of the strategy tester report:
From the above stats, we can see the backtesting done from 1999 to 2010 on the H1 timeframe reveals a total gain of 4167.74% was generated. The daily profit was 0.09% and the monthly profit was 2.72%. A drawdown of 13.53% was present. For an initial deposit of $1000, a total of 6,631 trades were executed with a profitability of 75% and a profit factor of 2.59 were present. From the results, we can see that the profits were high and drawdown low as claimed by the vendor. The results indicated an effective and low-risk approach.
A real USD account verified by the myfxbook site is present for this FX EA. Here is the account using the MT4 terminal and the leverage of 1:500:
From the above stats, the account reveals a total profit of 48.48% for an initial deposit of $2,500. The daily and monthly profits are 0.14% and 4.36% respectively. A drawdown of 18.71% is present. From the growth curve, we can see the account has grown at a steady pace indicating an effective approach.
Although the profits are not high, the low risk is something that many traders would prefer rather than put their capital at risk. The lot size of 0.01 and the profit factor of 2.42 also indicate low risk and high profitability. Comparing the backtests with real trading we find the low drawdown is similar in both indicating a low-risk system.
Unfortunately, we could not find user reviews for this FX EA on trusted sites like Forexpeacearmy, Trustpilot, etc. However, we found 21 reviews for the company on the Trustpilot site with a rating of 4.6/5. Users are satisfied with the robots and find them profitable and effective.
- A fully automated system
- Verified results
- Refund offer
- Low profits in real trading
Our evaluation of the Happy Forex system reveals backtests and real trading performance that proves the claims of low risk and stable profits by the vendor. While the profits are not high, they are consistent and other benefits we found in the robot include the affordable pricing, the refund offer, and positive reviews for the company.