Forex Sugar Review: Things to Consider Before Investing

Forex Sugar

Forex Sugar trades using price action and other technical indicators. It does not close trades at the designated stop loss and take profit but will use its calculations to determine the exact exit points. Brian Jones develops the algorithm. He does not share any information on his coding and trading experience, which is a poor practice. Our article will discuss all the features of the EA and answer the question if it is good enough for your investment.

The highlights of Forex Sugar

The robot has the following features, which, according to the developer, makes it a unique trading tool:

Virtual take profit and stop loss

The robot does not close trades at a fixed stop loss, as mentioned before. After entering a position, it will use the built-in indicators to exit the market at the right conditions. 

News filter

The robot adjusts itself when any important economic event is about to happen. Traders can also post news events within the expert and set the number of minutes the robot should avoid trading. The algorithm likes to trade on stable markets; therefore, it turns itself off during volatile conditions.

Developing an algorithm that uses a complex virtual stop-loss function and selling it for a low price raises many red alerts. No one in the financial industry or in the general community will be willing to sell a neural network for a few bucks. The developer is boosting the product to boost sales.

Trading strategy of Forex Sugar

The robot is installed in the MT4. To make it work, traders have to place the ex4 file in the experts’ directory of the platform. Afterward, they have to enable live trading and place the EA on respective charts to begin trading.

The robot trades on price action and technical indicators. After receiving signals from these indicators, it will open a position accordingly. It requires leverage of 1:500, which is pretty high. The recommended pairs are EURGBP, XAUUSD, XAGUSD, and AUDUSD on the 15-minute chart. To understand the working better, we head over to the live results on Forex Blue. The robot uses grid and martingale strategies which is evident when looking at the increasing lot size and closing time.

Few trades on FXBlue
Few trades on FXBlue

Backtesting reports

There are no backtesting results available. This might be because the EA would have failed them due to the implementation of the martingale strategy.

Trading results in real time

Live trading results are available on FXBlue, which shows performance from January 28, 2021, till July 22, 2021. Since then, the robot has had an average monthly gain of 17.8%, with a drawdown of 1.0%. There were 548 trades in total, with an average holding time of 5.2 hours. The expert advisor trades with a winning rate of 78.5% with a profit factor of 12.05. The average winning trade was $15.91, while the loss was -$43.11. 

Trading results at FXBlue
Trading results at FXBlue

Forex Sugar price

The robot is available for an asking price of $99 and $274, which comes for 1 and 5 licenses for real accounts, respectively. There is no money-back guarantee by the developer. The EA is not worth the price as the performance records are only on a demo account. 

The pricing model of Forex Sugar
The pricing model of Forex Sugar

Reviews from customers

Customer reviews are available on the Forex Peace Army for Point Zero trading, which gives the company a total of 4.495 for 107 reviews. Customers complain that the developer is not providing full refunds. They also state that he is rebranding others indicators.

A customer review on FPA
A customer review on FPA

Customer support

The developer only provides his email address for contact purposes. There is no live chat support that traders can use.

Are traders happy with Forex Sugar?

There are no customer reviews present at Forex Peace Army that can guide us on the efficiency of the algorithm. Users are afraid of the martingale strategy. Also, there are no live records that are a huge turn-off.

Forex Sugar

Forex Sugar
3 5 0 1
Forex Sugar is not a trustworthy algorithm as it does not provide real proof of its profitability. The EA uses a risky martingale strategy which can cause drawdown and is therefore not fit for your investment.
Forex Sugar is not a trustworthy algorithm as it does not provide real proof of its profitability. The EA uses a risky martingale strategy which can cause drawdown and is therefore not fit for your investment.
3/5
Total Score
  • Functionality
    3/5 Neutral
  • Trading Strategy
    3/5 Neutral
  • Live Results
    3/5 Neutral
  • Customer Support
    2/5 Bad
  • User Reviews
    2/5 Bad

Advantages

  • It uses a stop loss

Disadvantages

  • No live records
  • No transparency of developer
  • Uses risky martingale strategy
Total
0
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