Happy Market Hours uses scalping and trend methods for achieving big returns and minimal losses. It works on multiple currency pairs and is the most effective when used on an ECN account or a standard account. As per the vendor, this FX EA is developed as a fully automated system suitable for use by traders of all levels of experience including newbies.
Happy Forex company develops and promotes this FX robot. The firm has been operating since 2016 and is well-known among FX traders for its wide variety of expert advisors, indicators, and other services. Vendor transparency is a key influencing factor in determining the reliability of a system. The features, support, performance, etc. also play an important role.
The market is brimming with numerous FX robots so finding a reliable and profitable system is like picking a needle from a haystack. Luckily, we have done all the hard work for you. You can have a look at our list of the best FX robots and pick a suitable system easily.
Happy Market Hours features
The main features of this FX EA that the vendor claims give it an edge over its competitors are:
- It is a fully automated system with an easy installation process.
- The FX robot does not use the Martingale, grid, and hedging methods.
- It supports ECN brokers.
- The FX EA can automatically detect quotes of 4 or 5 digits.
- It can work on standard, mini, and micro accounts.
- The major currency pairs it works on are EURUSD, EURGBP, EURCHF, USDCHF, USDCAD, and GBPUSD pairs.
- It uses the M15 timeframe.
- The vendor recommends a minimum deposit of $100.
You can buy this FX robot for €299 which includes 2 licenses of the software or for €499 which comes with 5 licenses. The package includes 9 other EAs of the Happy Forex company besides this robot. A 30% discount is present on the pricing along with a free indicator. When compared to the market average, we find the pricing is very affordable given the fact that you get 10 EAs and an indicator along with a discount. Further, the vendor offers a 30-day money-back guarantee which shows that the company is confident of the efficacy of the system.
How it works
This FX EA is designed to work best on a standard account or an ECN account. It can work on any big client account using the MT4 terminal. A spread filter present in the settings stops the robot from executing orders when the broker spread exceeds the setting spread. The system uses SL and TP settings that are decided by the market sentiment.
Scalping and Trend methods are the main strategies that this MT4 tool uses. The vendor states that this EA does not use dangerous methods like hedging, grid, and Martingale. Technical indicators are used with the strategies to achieve accurate results. Money management features of the system include the use of spread filters, dynamic SL and TP, and News filters. As per the new updates, a trailing stop helps to automatically protect profits.
A few backtesting results are present for this ATS. Here is a screenshot of the strategy tester report for the EURUSD pair using the M15 timeframe.
From the above stats, we can see the backtest was done from 2005 to 2017. For an initial deposit of $1000, a total net profit of 28511188 was generated. A total of 1775 trades were executed with profitability of 77.75% and a profit factor of 1.61. The maximum drawdown was 11.32%. From the stats, it is clear that the drawdown is low indicating a low-risk approach. The high profits show good performance and an effective strategy.
A live real USD account verified by the myfxbook site is present for this FX robot. The account using the BlazeMarkets broker and the leverage of 1:200 on the MT4 platform is shown here:
From the above stats, we can see a total profit of 11.44% was generated with a daily profit of 0.04% and a monthly profit of 1.12%. The drawdown is 14.55%. For the account that started in May 2021, we can see the growth curve has steadily increased. While the initial months show losses, the account has rallied well which shows good risk management. The low drawdown indicates the risk is not high. For traders wary of high-risk approaches, the small but steady growth and the low drawdown will look favorable.
We found 13 reviews for the Happy Forex company on the Trustpilot site. A rating of 4.5/5 is present for the products of the company. Here are a few of the testimonials from customers:
From the above feedback, we find that the users are happy with the products. They find them affordable and stable.