Forex Sugar is an expert advisor that claims to monetize and enhance your trading experience. Being a fully automated trading system, it is immune to emotional decision-making. It is capable of monitoring and trading multiple currency pairs on a 24/7 basis.
There are two pricing packages for this EA, namely Basic and Professional. The Basic plan lets you access a single real account for $149, while the Professional plan comes with five real accounts and is available for $559. The vendor offers a 30-day money-back guarantee. Compared to the market average, the plans are not too expensive. We don’t exactly know when the robot was launched, but the live trading account has been active since March 2022.
Is Forex Sugar good?
This robot is affordable and supported by verified trading statistics. Nevertheless, the trading history is too short, which means the EA has not been exposed to various market conditions. There is not enough information about the developer and they haven’t shared the historical test results.
Features of Forex Sugar
This is a system that is compatible with the MT4 trading platform. Although it is built for Windows, you can run it on macOS by using a VPS service. You can easily use Forex Sugar with other robots in the same account. It is compatible with all brokers that support MT4. The stop level of the broker should not exceed 10 pips on a 5-digit broker. Also, the broker must support hedging.
It is possible to use different types of accounts with this EA, such as Standard, Micro, or Cent. The vendor recommends tight spreads or low/zero spreads with commissions.
Although it supports all major currency pairs, Forex Sugar is best suited to the EUR/USD pair. You should use the EA on M1 charts and customize the trading parameters as per your preferences. For standard accounts with 1:400+ leverage, you should use at least $1000, but below that, you need a cent account.
|Money Refund||30 days|
What strategy does Forex Sugar use?
This EA follows a combination of Grid and Scalping strategies. In Scalping, traders purchase a pair and hold it for a short time period to generate gains. This strategy typically involves conducting multiple trades daily.
The Grid strategy is suitable for trending as well as sideways market conditions. This involves hedging and placing alternate buy and sell orders. On average, the EA conducts 5-10 trades daily depending on the price movement and spread value.
Backtesting vs live trading results
Here, we have a live trading account on FXBlue that has a history of 73 days only. Since it hasn’t been active for too long, it is difficult for us to assess the profitability of the system from the results. To date, the EA has conducted 231 trades through this account, winning 194 out of them. It currently has a very high win rate of 84% and a decent profit factor of 1.54.
The risk/reward ratio of this account is quite high at 5.50. This tells us that the robot follows a risky strategy that can lead to heavy losses. The weekly and monthly returns are 2.6% and 11.4% respectively.
From the live trading history, we can see that the robot occasionally suffers heavy losses. The robot conducts an average of 3.2 trades per day. The average win and loss for this account are +3.03 and -10.32, respectively. Unfortunately, backtesting results are not available for this EA.
The core team
The developer behind this system goes by the name of Brian Jones. We don’t have any background on this person or the people he works with and this indicates a lack of transparency. On the official website, the vendor has shared a couple of email addresses.