Happy Forex Review

Happy Forex robot assures consistent returns and low risk. It uses the grid approach which relies on reinsurance positions without adding on the lots as in the Martingale method. This automated system supports brokers with a maximum of 4 spreads. The Happy Forex company promotes this FX robot. The firm is noted for its wide range of EAs and other FX tools it offers. Since 2016 the company has gained a reputation for providing expert advisors that traders find very effective.

Happy Forex

Trading Strategy explanation

As per the vendor, this FX EA uses reinsurance positions that do not involve an increase in the lots. It uses technical evaluation and a news filter for making safe entries. Various options and settings are used which are not restricted to a single currency pair. Important features of the system that make it competitive in the market are:

• It works on the MT4 platform.

• The robot works 24/7.

• It is fully automated and easy to install.

• The ATS supports ECN brokers.

• It can automatically detect quotes of 4 or 5 digits.

• A timeframe of H1 is recommended for this FX EA.

• A micro, mini, or standard account can be used.

• Three trade sets are present in a single EA.

Minimal deposit recommended depends on the settings used.

Setting 1

(For GBPUSD, AUDUSD) 

A micro account with a 0.05 lot needs $1000

A mini account of 0.5 lot needs $10,000

A standard account of 5 lotsneeds $100,000

Setting 2

(For GBPUSD, EURUSD, AUDUSD)

A micro account with a 0.01 lot size needs $200

A mini account with a 0.1 lot size needs $2000

The standard account with 1 lot size needs$20,000

Setting 3

(EURCHF, AUDUSD)

A micro account of a 0.01 lot size needs $1000

Mini account of 0.1 lot size needs $10,000

The standard account of 1 lot needs $100,000

Backtest data analysis

A few backtests are present for the FX robot. Here is a backtest done for the GBPUSD pair from January 1999 to July 2010 using the H1 timeframe.

From the above stats, we can see a total net profit of 4167.74% was generated from an initial deposit of $1000. The daily and monthly profits were 0.09% and 2.72% respectively. A drawdown of 13.53% was present. For a total of 6,631 trades, the profitability was 75% and the profit factor was 2.59. From the results, it is clear that while the profits generated were not high, the risk is low as seen in the low drawdown value. 

Live Trading data analysis

Trading results

The vendor provides a real USD account using the ForexMart broker and the leverage of 1:500 on the MT4 platform. Here is a screenshot of the trading results:

From the above stats, we can see the account has generated a profit of 48.48% with a daily profit of 0.14% and a monthly profit of 4.47%. The growth curve shows a steady rise in profits since the account started in June 2021. Further, the drawdown is low indicating the risk is not high although the profits are below-average only. A lot size of 0.01 is used which also denotes a low-risk approach. For traders who do not prefer high-risk approaches, this FX EA would be a favorable choice because of the low risk.

Pricing and refund

To buy this FX robot, you need to pay €299 (2 licenses)or €499 (5 licenses). The packages include 10 EAs. A discount of 30% is present and the vendor also provides a bonus indicator for free. A user guide, free updates, free upgrades, and a 30-day money-back guarantee are other features that are part of the package. When compared to the market average, we find the price is affordable. Further, the presence of a refund offer indicates the reliability of the system.

Review summary

Pros

• 100% automated software

• Verified results and backtests

• Money-back-guarantee

Cons

• Limited to a few currency pairs

Happy Forex provides backtests and verified proof for its efficacy. Besides explaining the strategy, the vendor also furnishes backtesting results that corroborate the low-risk claim. While the profits are not high in real trading results, the consistent growth and low drawdown indicate a system that can withstand the market conditions favorably. Further, the affordable pricing and refund offer are other benefits that make this a desirable FX robot.

Rating: 8/10