Happy Gold is an FX robot that uses a combination of strategies and an indicator for analyzing and executing the trades. This is a fully automated system that can detect 4- or 5-digit quotes automatically. The Happy Forex group promotes this expert advisor as part of its pack of 10 EAs that include Happy Frequency, Happy Martigold, and more.
We could not find details of the company like its founding year, the location, phone number, and more. We can see the domain copyright is from 2016 to 2021. The lack of vendor transparency makes us suspect the reliability of this vendor.
Our review analyses the features, trading approach, and performance among other factors to verify the claims of the vendor. As with all other FX robots from Happy Forex, this EA also provides very minimal info on the developer or the team behind the product. The lack of info raises a red flag.
What is behind the Happy Gold EA?
As per the vendor info, this FX robot uses 99.9% optimization in the MetaTrader platform to improve stability and increase profits. Only one trade is open at a time and the EA uses hard SL of -24 pips while the TP levels are dynamic and change depending on the market condition. The vendor recommends using a spread of 20 pips as the maximum limit along with a low slippage broker like the Market maker or ECN.
Important features found in this FX EA include an easy setup process, ECN broker support, and 100% automation. It works on the MT4 and MT5 platforms and does not use the Martingale, Grid, and Hedging approaches which are dangerous strategies that can blow up accounts easily.
A minimum deposit of $100 is recommended by the vendor. This ATS is designed to work best on the XAUUSD pair using the timeframes of M15, M30, H1, and H4. An ECN account type works well for this system, as per the vendor.
The swing, grid news, and scalp approaches are used for this EA in combination with the ZigZag indicator. With the indicator, the FX EA tracks and links all the extreme points found in the chart. From the measured distance between the points, an equal or higher percentage fixed for the price scale is found. The explanation for the strategy is vague and does not provide a better insight into the approach.
A strategy tester report for the XAUUSD pair using the M15 timeframe and modeling quality of 99.9% is given here.
From the report, we can see a total net profit of 2352.62 was generated for an initial deposit of $1000 for the backtest done from January 2019 up to December 2019. The profitability was 94.065 and the profit factor value was 1.93. A maximum drawdown of 12.11% is present for the account which used a lot size of 0.21. From the report, we can see the profit was not high despite the low drawdown and high profitability.
To purchase this FX EA, you need to pay €299. This price is for 2 licenses of a full pack of Happy Forex EAs that include 10 EAs. The cost is €499 for 5 licenses. Along with the FX EA MT4 and MT5 versions, the vendor provides a user guide, 2 or 5 real accounts based on the package you choose, an unlimited number of demo accounts, free upgrades, and free updates.
A 30-day money-back guarantee is present for the product. When compared to other competitor gold-based EAs, the price is affordable considering that you get 9 additional products for the price along with a bonus MT5 version.
Trading performance of Happy Gold
A real USD account using VT Markets broker and the leverage of 1:500 on the MT4 platform verified by the myfxbook site is shown here.
From the above images, we can see the account has seen a total profit of 58.83% and an absolute profit of similar value for the trading started in June 2021. A daily profit of 0.59% and a monthly profit of 19.27% are present for the account with a drawdown of 8.24%. The total number of trades completed is 48 which indicates low-frequency trading. Profitability of 83% and a profit factor of 2.91 are present. The lot size used varies ranging from 2.11 to 2.47. From the big lot size and low profits, it is clear that the system uses an ineffective and risky approach.
For customer support, an online contact form is present. As per the FAQ section, the vendor provides live chat via the website, AnyDesk, and Teamviewer.
We could not find user reviews for this product on reputed sites like Forexpeacearmy, Trustpilot, etc. The lack of feedback indicates this is not a popular product in the trading community.