Happy Forex Review: Things to Consider Before Investing

Happy Forex assures consistently high returns and minimal risk with its effective approach. It comprises 3 trade settings and uses technical analysis and the grid method to increase the accuracy of the entries. As per the vendor, this expert advisor has settings and options that work on multiple currency pairs. Happy Forex company is the developer of this FX EA. For the past 6 years, it has garnered a stellar reputation for its various expert advisors and other tools it develops. A team of experts in programming and FX trading helps to create effective systems that have a high winning rate. Other products of the company include Happy Neuron, Happy Way, Happy Frequency, and more.

The highlights of Happy Forex

Here are some features that according to the developer set Happy Forexapart in the market:

Consistent profits

The expert advisor is primarily designed for use by all types of traders. It can generate stable profits by using a combination of technical analysis, news filter setting, and the grid approach.

Money management

The MT4 tool is designed to work on big client accounts using the MT4 terminal. It uses SL, TP, and settings like profit check, equity gain percent, and safe equity risk for ensuring proper money management.

Drawdown control

For minimizing the drawdown, the FX robot avoids using the classic grid order. Instead, it uses a variable follow order feature that specifies the indicator.

Trading strategy of Happy Forex

This MT4 tool works 24/7 and is easy to install and use. It supports ECN brokers and can automatically detect quotes of 4 or 5 digits. As per the vendor, reinsurance positions are used by the FX EA without increasing the lots as in the Martingale method. This helps in minimizing the drawdown. You can use the EA on any broker with a maximum of 4 spreads. Micro, mini, or standard accounts can be used for this ATS. The minimum deposit required depends on the settings and type of account you want to use. A range starting from $200 up to $100,000 is present for the recommended deposit.

Backtesting reports

A backtesting report is present for this FX robot. Here is a screenshot of the strategy tester report for the AUDUSD pair using the H1 timeframe. 

From the above screenshot, we can see an initial deposit of 1000 had generated a net profit of 2250 for the backtest done from 2012 to 2016. A total of 891 trades were completed with profitability of 71.72% and a profit factor of 2.10.  The maximum drawdown is 20.17%. From the results, it is clear that the drawdown is low and the lot sizes used are small indicating a low-risk strategy.

Trading results in real time

The vendor provides a live real USD account using the Forex Mart broker and the leverage of 1:500. Here are screenshots of the account using the MT4 terminal.

From the above stats, we can see a total gain of 48.48% is present with a daily profit of 0.14% and a monthly profit of 4.36%. The drawdown is 18.71%. For deposits of $2,500, the account has generated a profit of $386.83. The account that started in June 2021 has completed 171 trades with a 68% profitability and a profit factor of 2.42. The lot size used is 0.01. From the results, we can see the drawdown and lot size are low denoting a low-risk strategy. Further, the growth curve indicates a steady rise in profits revealing effective money and risk management.

Happy Forex price

You can buy this FX robot for €299 (2 licenses) or 499 (5 licenses). In addition to the Happy Forex, you will get 9 other expert advisors of the company with the package. The vendor provides a 30% discount on purchase and a proprietary indicator free. When compared to the market average, we find the price is affordable. A 30-day money-back guarantee is present for the product.

Customer support

For support, the vendor provides an online live chat, an email address, TeamViewer, and AnyDesk methods.

Are traders happy with Happy Forex?

While we could not find user reviews for this specific expert advisor, we found 13 reviews for the Happy Forex company on the Trustpilot site. As per the user feedback shown above, the EAs of the company have outperformed other products by over 35%.