Happy Way Review

Nov 26, 2021 02:30 PM ET
Happy Way Review

Happy Way is an FX Robot that uses the market momentum for identifying and executing profitable trades. It works on five major currency pairs namely, USDCAD, CADCHF, AUDCHF, AUDUSD, and AUDCAD. As per the vendor, this EA does not use an indicator for its approach but uses the grid approach without the Martingale system. The Happy Forex group is promoting this EA. We could not find much info on the company as the vendor does not reveal details like the founding year, location address, phone number, etc. The absence of vendor info makes us suspect the reliability of this FX robot.

Happy Way

Type

Fully-automated EA

Price

€299

Strategy

Grid

Compatible Platforms

MT4

Currency Pairs

USDCAD, CADCHF, AUDCHF, AUDUSD, and AUDCAD

Timeframe

H1

Recommended Min. Deposit

$100

Recommended Deposit

$1000

Leverage

from 1:100

Trading strategy explanation

Strategy used by Happy Way.

According to the vendor info, this FX EA uses the grid method for identifying profitable trades. The vendor claims that it does not increase the lot size as with the Martingale method. The different options and settings present in the system enable it to work on multiple pairs. There is no further explanation of the strategy, which raises doubts regarding the efficacy and whether this is a reliable system or not.

Features and recommendations of Happy Way.

Important features of this FX robot that the vendor focuses on are:

  • It works 24/7 and is a fully automated system.

  • A money-back assurance of 30 days is present for EA.

  • It is easy to install and supports ECN brokers.

  • The EA can detect quotes of 4 to 5-digits automatically.

  • For a micro account, the minimum recommended deposit is $1000, and the amount is $100 for a standard account and $10 for a mini account.

Backtest data analysis

The vendor does not provide backtesting reports for this FX EA. It is a known fact that the performance in the backtests cannot predict a similar result in real-time trading. But traders use the backtests for understanding the approach and its efficacy. The absence of the strategy tests raises a red flag for this EA.

Live trading data analysis

Trading Results

Myfxbook Account

Real (USD), ForexMart

Started

June21, 2021

Deposit

$2500

Balance

$2686.46

Gain

7.46%

Daily

0.05%

Monthly

1.50%

Drawdown

9.42%

Profitability

70%

A real USD account using the leverage of 1:500 on the MT4 platform is shown below. The account uses the ForexMart broker and automated trading.

Growth curve of Happy Way.

Advanced trading stats of Happy Way.

From the trading stats shown in the screenshots, we can see that the account has generated a total and absolute profit of 7.46% each. The daily and monthly profits for the account are 0.05% and 1.50%. A drawdown of 9.42% is present for the account. 

For a deposit of $2,500, the account has gained a profit of $186. The total number of trades is 71 and the profit factor is 2.00. While the drawdown is low, the number of trades and profits made are low indicating an ineffective approach and below-average performance.

Pricing

Pricing of Happy Way.

This FX EA is sold as part of a pack consisting of 10 EAs of the Happy Forex group. The entire package costs €299 for two licenses. For 5 licenses, you can buy the package of 10 EAs for €499. A proprietary indicator is provided for free with the package and a 30-day money-back guarantee is present. When compared to similar products in the market, we find the price is not expensive.

Support

As an MT4 tool, this system is promoted by the Happy Forex group. For support, the vendor provides an online contact form. We cannot find any other support methods like live chat, phone number, company address, etc. The inadequate support makes us suspect the trustworthiness of the expert advisor.

Customer reviews

We could not find user feedback for this MT4 tool on reputed third-party sites like Forexpeacearmy, Trustpilot, etc. The lack of user reviews indicates this is not a popular product in the FX market.

Review summary

Pros

  • Fully automated system

  • Verified trading results

  • Price is affordable

Cons

  • Lack of strategy explanation

  • Real trading results show below-average performance

Happy Way claims to provide high returns with its grid-based approach. Our analysis reveals several downsides in the system. To begin with, the vendor does not reveal info on the strategy and there are no backtesting reports. While verified real trading results are present, they show an ineffective strategy and poor performance. Despite the low price and money-back offer, we find the system is not reliable as the performance and approach are ineffective and below par. In short, this is not a trustworthy expert advisor to consider.

Rating: 4/10


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