High returns and low-risk trading approaches are welcomed by all types of Forex traders. Some stay away from strategies like the Martingale, grid, etc., while some prefer the hedging approach. What if you get to use all the different approaches? Happy Forex makes this possible with its package of 10 EAs.
The Happy Power Forex robot is a product of Happy Forex that is sold separately. However, you get the 10 EAs as a bonus. Besides the chance of testing the different approaches, you can make use of the fully automated MT4 tool to make precise entries and exits. Happy Power works mainly on the EURCHF pair.
All FX EAs of Happy Forex have a similar website layout. You can find a few words explaining the working of the expert advisor, its features, recommendations, and price. The Happy Power site is not an exception. As per the vendor, this ATS uses artificial intelligence for calculating accurate trade entries and exits.
There is no detail related to the vendor or the developer of this FX robot. Besides the online contact form, there is no other form of support provided. We would like more transparency on the part of the vendor. Without relevant information, the product looks unreliable.
|Compatible Platforms||MT4, MT5|
|Recommended Min. Deposit||$500|
This ATS is available for €325. The cost includes a single trading license for unlimited accounts of real and demo types. Free upgrades and updates are part of the package. A refund offer is provided wherein, you are given 30 days to get your money back if you are not satisfied with the FX robot. A bonus of 10 EAs of Happy Forex is part of the price package.
This MT4 tool uses the M30 timeframe and works only on the EURCHF pair. The vendor recommends a minimal deposit of $1000 to start trading with this FX EA. While there is no mention of the specific type of advisor this product belongs to, the vendor states that a self-adaptive market algorithm is used with reinforcement learning components. The FX robot is designed in such a way that there is no need for making corrections to sub-optimal actions. This fully automated EA supports ECN brokers and is capable of 5-digit quotes autodetection. Easy installation and broker compatibility are other significant features of this MT4 tool.
A few backtesting results are posted on the site. Here is one of the strategy tester reports:
From the report, we could see the initial deposit of $1000 has resulted in a net profit of 516.32 with a maximal drawdown of 19.57%. The period of testing was from February 16, 2020, up to February 12, 2021. Modeling quality of 99.9% was used, which is adequate to know about aspects like the slippage, spread, commission, and more.
The vendor provides live trading results verified by the myfxbook site. Find below images from the trading account stats of this EA.
From the trading stats of this real USD account using the leverage of 1:500, we could see the daily gain is 0.76% and the monthly profit is 26.27%. We find the difference in the values of the total and absolute gain a bit puzzling. Another aspect that raises suspicion about the strategy used is the drawdown. A value of 54.43% indicates that the account was in danger of losing more than half of its capital at a time.
Other details of this live account that started trading on February 25, 2021, include a total of 1178 trades with a profit factor of 2.90. The trading history of this account reveals lot size is 0.01. Comparing the backtest report with the live trading results, we could see that there is a difference in the drawdown value while the other values are similar.
We could not find reviews from users of this FX EA. We prefer reviews from sites like Forexpeacearmy, Trustpilot, etc. as they offer unbiased views on the FX robot. The lack of reviews indicates this MT4 tool is not reliable.