Happy Power is an MT4/MT5 compatible trading tool with fully automated software. As a product of the Happy Forex group, this FX robot is designed to work solely on the EURCHF pair. Backed by artificial intelligence technology, this expert advisor uses market analysis as the main approach for identifying the best trade entries. Just like the other EAs from Happy Forex, this ATS also does not have info related to the founding year, the location of the vendor, product history, developer information, and more.
To identify a reliable system there are certain important markers like the trading approach, proven track record, good user reviews, and more. Finding all these aspects for every EA in the market is not possible. Fortunately, we have done all the hard work for you. All you need to do is look at our best Forex robots list to make an informed decision.
Happy Power Overview
Our initial analysis of the site reveals meager information on the expert advisor. The main focus of this ATS is on the live trading result and backtests. A few words on the features and recommendations are found on the site. Here is a list of features the FX EA promotes:
- ECN broker support
- Fully automated EA
- Installation is quick and easy
- Broker compatibility
As you can see, the features offered are very minimal compared to other similar EAs in the market. Most of the EAs from the Happy Forex group have a similar layout with the bare minimum information provided on the features and strategy used. Furthermore, there is no information on the developer or team behind the EA. Other vendor transparency factors like location address, contact number, etc. are also not provided. This lack of vendor transparency makes us suspicious of the reliability of this EA.
Unlike other EAs of Happy Forex, which are sold as a single package of 10 EAs, this FX robot is sold as a separate package at the cost of € 325. A bonus pack of 10 EAs are offered by the vendor. The price includes unlimited real and demo accounts with a single license and free updates and upgrades. A 30-day refund is offered if users are not satisfied with the software and want their money back.
While the cost for a single EA looks very expensive, the bonus offer makes it more affordable. However, as far as the effectiveness of the EAs are concerned, we are a bit skeptical as most of the Happy Forex EAs do not have good performance.
How it works
As per the vendor, this EA uses a self-adaptive algorithm and artificial intelligence to identify the trade entry and exit points. The EA can autodetect quotes up to 4 or 5 digits. It uses the M30 time frame and trading can be done with a minimal deposit of $1000.
There is no mention of the trading approach used by this EA on the site, which is disappointing. Backtesting results are provided on the site. Here is a screenshot of the strategy tester report:
From the backtest results, we could see the modeling quality is 99% with real tick data. A total net profit of 6,685 is shown with a profit factor of 2.39 for a total of 9653 trades. A maximal drawdown value of 11.995 is present for this account trading on the EURCHF pair. The test uses an initial deposit of $1000 and the leverage of 1:500.
A real live USD account checked by the Myfxbook site is provided by the vendor.
From the trading stats, the total profit is 79.93% and the absolute profit is 89.93%. A high drawdown of 54.43% is shown with the daily and monthly profits being 0.73% and 25.15% respectively. The trading period is from February 2021 up to May 2021 and reveals a total of 1188 trades with the average win coming at 13.87 pips and the average loss at 16.04 pips. A profit factor value of 2.90 is shown for this account. While the profit percentage looks decent, the sample size is too small to assess the performance of this account.
No user reviews are found for this EA on reputed review sites like the Forexpeacearmy, Trustpilot, etc. Without feedback from users, it is not possible to evaluate the performance and support provided by an ATS. And the lack of reviews also reveals that the product is not a popular FX robot.