Forex Sugar comes with multiple settings that allow it to trade during certain events such as news. The robot comes with live account results that are tracked using FXBlue. It can use a virtual stop loss and take profit to protect itself from broker manipulation. The robot uses a martingale and grid combo which can be extremely risky when the market moves in one direction against the original trade. This makes the system a poor choice for investment.
What is Forex Sugar?
Forex Sugar has the following features:
- It works on the MT 4 platform
- It has a virtual stop loss and take profit functions
- It can be turned on and off to trade on the news
- It uses price action patterns and built-in indicators
The developer states that the robot requires leverage of 1:500 to trade. Although traders can trade with multiple currency pairs, the most recommended ones are EURGBP, XAGUSD(silver), XAUUSD, and AUDUSD.
Official Forex Sugar website
The product is available on the website, where the developers’ name is mentioned as Brian Jones. He does not present any further information on his whereabouts and trading experiences which is a poor approach.
How can we use Forex Sugar?
You can download the product after receiving it on your email id. This is how it will work:
- Place the robot in the experts’ directory of MT4
- Refresh the experts’ tab and attach the robot to the charts
- Enable the auto trading tab to begin trading
Pricing & refund
The robot is only available for $99, which comes with one license for a live account. Traders can also pay $264 for 5 licenses. There is no money-back guarantee.
The developer states that the robot uses price action methods and custom indicators for trading. It likes non-volatile conditions and can be turned on and off during news releases. The robot will not close positions at a fixed stop loss and recalculates the exit points after the trades are open. Through the history on fxblue.com, we can see that the EA uses a martingale trading strategy and employs a grid method.
There are no backtesting records available. There is no reason that the developer presents for not including the respective records. The system might likely have failed during historical testing.
Live trading results are available on FXBlue, which show performance from January 26, 2021, till July 21, 2021. The robot had an average monthly gain of 17.8%, with a drawdown of 1.0%. There were 528 trades in total, with unknown lots traded. The expert advisor traded with a winning rate of 78.5% with a profit factor of 1.35. The average winning trade was $15.91, while the worst one was -$43.11. The results are on a demo account which raises red flags. Virtual portfolios do not respect real slippage and liquidity. The developer might have known that the robot would result in a margin call and didn’t want to invest real funds.
What are the real customers saying about Forex Sugar?
There are no customer reviews present on any website. Traders are afraid to try out a system that uses a risky martingale strategy.
Summary: is Forex Sugar a trustworthy robot?Forex Sugar
Trading results2/5 Bad
- The asking price is average
- Trading results have not been updated since July 2021
- It does not explain its trading strategy
- There are no proper backtesting results provided