ReviewsTrading Robots

Forex Sugar Review

0
Forex Sugar

Forex sugar is an expert advisor that offers completely automated software for trading. As per the developer Brian Jones, the FX robot uses smart calculations along with technical indicators for profitable trading. The ATS works 24/5 and can trade during day time and in the night trading session. Other than revealing the name of the developer, the vendor does not provide any information on the company, its founding year, location, phone number, etc. The lack of info raises doubts regarding the dependability of this EA.

Features of Forex Sugar EA

Features of Forex Sugar EA

As per the vendor, this ATS can make your trading highly profitable. With the market being flooded with several such expert advisors, it can be difficult to choose the right automated system. Our Forex Sugar EA review, aims to provide you with an in-depth evaluation of this FX EA so you can make an informed decision. According to the info present on the website, this MT4 tool has the following benefits:

  • The system is fully optimized to ensure profitable trades
  • Smart calculations and technical indicators are the basis of the successful trading decisions
  • The EA can trade several trading instruments consistently round the clock
  • You can use the automated or the manual option as per the market condition

What is behind the Forex Sugar Robot?

This MT4 tool uses live news events and technical indicators for signal generation. It does not use a fixed TP and SL position. Instead, it uses technical analysis for closing a position. In volatile market conditions, the FX EA does not operate. It waits for a stable market condition to resume its work. However, you can change the settings to allow the trading or to stop the orders. The developer claims that you can capitalize on the market movement influencing factors like tick value, trading volume, and data release.

Key features

Some of the important features and recommendations for this FX EA include:

  • It works only on the MT4 platform AND USES Magic number which allows you to use it with other EAs without interfering with the other trades you make.
  • The ATS supports most brokers using the MT4 platform.
  • You can use micro, cent, or the standard account type.
  • The recommended leverage starts from 1:500 and the minimum capital required is $500. For a capital lower than $1000, the vendor recommends a cent account.
  • While the FX robot supports all currency pairs, it works best on the AUDUSD, EURGBP, XAGUSD (Silver), and XAUUSD (gold) pairs using the M15 timeframe.

Trading strategy

The strategy used by Forex Sugar EA

The strategy used by Forex Sugar EA

The main strategy of this FX EA includes price action movement and the use of technical indicators. Live news events also influence the trading decisions of this ATS. The dynamic SL and TP levels ensure profitable trades as per the developer. Some of the strategy settings include the capability to hide the SL/TP position from the broker, get more pips when the price movement is favorable, and reduce your losses if there is unfavorable price movement.

Here is a backtesting result verified by the myfxbook site. The test duration is from January 2020 up to April 2020.

Backtesting result of Forex Sugar showing growth curve

Backtesting result of Forex Sugar showing growth curve

Advanced stats and trading activity of Forex Sugar EA

Advanced stats and trading activity of Forex Sugar EA

For a deposit of $10,000, the backtest reports a net profit of 689% and a drawdown of 27.76%.  A total of 354 trade executions reveals profitability of 70% and a profit factor of 3.47. The lot size used is 7.14. While the profit is high, the drawdown and lot sizes used make us suspect that a risky approach was used.

Pricing

The pricing packages for Forex Sugar

The pricing packages for Forex Sugar

To buy this FX EA, you can choose from the two packages present. For one real account and an unlimited number of demo accounts, the vendor charges $99 and the rate is $264 for 5 real accounts and an unlimited number of demo accounts. No refund policy is present which makes us suspect the reliability of the product.

Trading performance of Forex Sugar

Demo account trading results for Forex Sugar on fxblue.com

Demo account trading results for Forex Sugar on fxblue.com

The developer provides a demo account verified by the FXBlue site. The recent update was a month ago, on July 24, 2021. Why did the dev not update it? It looks odd. From the trading statement, we can see a total return of 172.9% for a deposit of $1000 over a trading history of 179 days. The profit factor was 1.35 and profitability was 78.5%. A -1.0% drawdown is present. The risk to reward ratio was 12.05 which is high and confirms our suspicion that the approach is risky. Comparing the backtesting results with the demo account results we can see that the total returns were not as high as in the backtests confirming a poor performance.

Customer support

Customer support provided by Forex Sugar

Customer support provided by Forex Sugar

Email addresses of the developer and an online contact form are the support methods this EA offers. We find the support is inadequate and can inconvenience users.

People feedback

No user reviews are present for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. The absence of customer feedback reveals this is not a popular product among traders.

Forex Sugar Summary: Worth it or not?

6

Forex Sugar assures profitable trades with its revolutionary system. Our assessment of the various aspects of this FX EA reveals it is not a reliable product. Lack of vendor transparency, a high-risk trading approach, poor performance, and lack of sufficient support are some of the important downsides that refrain us from recommending this EA.

  • Fully automated software
  • Verified trading results
  • The trading results reveal a risky strategy and poor performance
  • No money-back guarantee
  • Inadequate support

Cairo 2021 Review

Previous article

YNAB App Review: Why You Need a Budget

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Reviews