Happy Way is an FX robot that works on multiple currency pairs. The vendor claims that this system does not use indicators for its approach or use toxic methods like the Martingale. Instead, it uses reinsurance positions for increasing profitability and reducing the risks. As per the vendor, this FX robot is designed for traders of all levels of experience including beginners.
Is investing in Happy Way a good decision?
As a completely automated system, this FX EA assures the use of low-risk methods for higher returns. To check the veracity of the claims we have analyzed the features, trading results, and other aspects of the EA including its support. From our evaluation, we find that the system lacks vendor transparency and the results indicate low profitability. Our initial conclusion is that this FX robot is not worth trying.
Happy Forex is the company that promotes this expert advisor along with several other similar products. We could not find info on the company like the founding year, the developer team, the experience of the team members, a location address, phone number, etc. The lack of info raises a red flag for this FX EA.
The features that the vendor highlights for this FX robot that make it have an edge over the competition are:
It is a fully automated system that trades 24/7.
The FX EA is easy to install and provides ECN broker support.
It can detect 4 or 5 -digit quotes automatically.
This ATS works on five stable currency pairs namely, AUDUSD, AUDCHF, USDCAD, AUDCAD, and CADCHF. It uses the H1 timeframe.
For the trading approach, the vendor mentions the use of the grid strategy with diverse options and settings that enables it to work on multiple pairs. There is no further explanation provided which makes us suspect the reliability of the system.
Recommendations for using this MT4 tool include the use of micro, mini, and standard account types, a minimum deposit of $100 for the standard account, $10 for the mini account, and $1000 for the micro account.
To buy this FX Robot, you have to pay € 299 for two licenses. The package includes 10 EAs of the Happy Forex company. A 30% discount is present for the package along with free Happy Indicators Pro. When compared to the price of other similar products, the price of this EA is not expensive because you get 9 other products with it. However, the lack of vendor transparency and ineffective performance make the product not worth the money.
No backtests are present for this MT4 tool. But the vendor provides a real USD account verified by the myfxbook site. Here are a few screenshots of the trading results:
From the above trading stats, we can see the EA had generated a total profit of 7.46% and an absolute profit of similar value. For the account that started in June 2021 with a deposit of $2500, the profit gained is $186. A total of 71 trades have been executed with a profitability of 70%. The profit factor value is 2.00 and the drawdown for the account is 10.79%. From the trading history, we can see a lot size of 0.01 is used. The low trading frequency and profits indicate an ineffective approach despite the drawdown being low.
We found 5 reviews for the Happy Forex company on the Forexpeacearmy site with a rating of 3.542/5. Here is a review present for this particular EA.
From the user feedback, it is clear that this is not an effective system as it does not have an SL resulting in very high risk. The user complains that it is a big scam. Another recent review for the pack of 10 EAs indicates the drawdown is high and has resulted in the blowing up of the user account. From the feedback, we can see that this is not a reliable system and that traders should avoid using it.
Happy Way review summary
Our evaluation of the Happy Way system shows that there are several shortcomings in the MT4 tool that make it an unreliable product. To begin with, there is a lack of vendor transparency. There is no explanation provided for the approach used and no backtests are present. While the vendor provides verified trading results, the performance is poor indicating an ineffective approach. The lack of sufficient support and negative user reviews further confirm the unreliability of the expert advisor.
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