Happy News is an MT4 tool that uses an automated method for successful trading. The vendor claims that the FX EA can capitalize on the market momentum regardless of the direction of the price. Promoted by the Happy Forex company, this system has verified live trading results and an affordable price. But the results indicate a high-risk approach. Further, there is a lack of vendor transparency. Our initial conclusion is that this is not a reliable trading tool.
What is Happy News?
According to the info present on the official site, the features and requirements for this FX EA are:
- It works on the MT4 platform and supports ECN account type.
- A minimal deposit of $100 is required for using this FX robot.
- It does not use toxic methods like the Martingale, hedging, and grid methods.
- The software is easy to set up and is fully automated.
- It can detect 4 or 5 digits quotes automatically.
Details concerning the updates done to the software are present on the official site. The current version of the system is v1.4.1
Official Happy News website
The official website has minimal info on the FX Robot, its features, functionality, and other related details. The lack of info makes us suspect the reliability of the system. This FX Robot is developed and promoted by the Happy Forex group. We could not find info on the company including its founding year, location, phone number, developer team, etc. The absence of company info raises doubts regarding the system’s reliability.
How does Happy News work in MT4 terminal?
As per the vendor info, this FX EA automatically trades the news events that create an impact on Forex. Regardless of the change in the prices due to market events, this FX Robot can help in providing profits. The ATS includes news filters that you can tweak to view all news events or filter only those relevant to the pair you are trading. Other filters include news impact filters, filters to know the difference between the forecast outcome of future reports and the previous ones, and more.
Pricing & refund
This FX EA is not available separately for purchase. Instead, you get it as a package of 10 EA that includes 9 other products of the Happy Forex group. The package costs €299 for two licenses and €499 for 5 licenses. The vendor offers a 30% discount on the price along with the Happy Indicators Pro as a bonus.
A user guide, free updates, free upgrades, and unlimited use of demo accounts are the features included in the package. There is a 30-day money-back assurance for the product. When compared to the price of other EAs in the market, the price of this MT4 tool is not expensive.
As per the vendor, this FX Robot uses a trend-based approach. The explanation provided is vague and raises doubts concerning the reliability of the MT4 tool. No backtests are present for this EA which further confirms our suspicion on the system’s dependability.
A live trading account verified by the FXStat site is present on the official site. Here is a screenshot of the trading results:
From the stats, we can see a profit of $1338.19 is generated for a deposit of $1000. A daily profit of 0.11% and a monthly profit of 2.53% are present for the account. The drawdown is 18.19% which is a bit high indicating a risky strategy. For the account that started in 2019, a total of 316 trades have been executed with profitability of 86.39% and a profit factor of 1.64. From the results, we can see the frequency of the trades is low and the low value of profit factor shows a below-average performance.
What customers say about Happy News?
We cannot find user reviews for this FX EA on reputed sites like FPA, Trustpilot, etc. The lack of feedback shows this is not a popular trading tool in the market.
Summary: is Happy News a trustworthy EA?Happy News
Trading Results2/5 Bad
- It is a fully automated software
- Verified trading result
- A vague explanation is provided for the strategy
- Real trading results show a risky approach and poor performance
- Lack of vendor transparency