Forex Sugar is the system that was introduced like “Yes, Trading In The Forex Market Is Profitable.” The developer is Brian Jones. We have googled for more details about him, but with no luck. It’s suspicious when the developer hides instead of publishing info about himself as many developers do on the MQL5 community.
As soon as we stay on the site for several seconds, we are suggested to exchange our email for their spam about the robot. Of course, sending it to them is a mistake.
Detailed Forex Sugar Review
In the following list we have united all the useful information about the system and how it works:
- Forex Sugar is a fully automated expert advisor.
- The system puts human emotions away from trading.
- The robot executes a Price Action strategy.
- Grid and Martingale are two risky strategies that are applied to the system.
- The advisor can close deals automatically if the market goes against open trades.
- The system works with many indicators to spot the best Entry Point.
- It executes orders five days a week.
- The installation process will take a little time.
- The robot uses dynamic Stop Loss and Take Profit levels.
- The robot avoids trading on the volatile market.
- The News Filter helps to avoid High Impact News.
- The developers don’t recommend small and fixed SL and TP for this EA.
- There’s broker protection that covers SL and TP levels from being hunted.
- The system can close deals with little losses if the market goes in the wrong direction.
Forex Sugar Strategy Tests
The presentation doesn’t include a backtest report. It’s a solid disadvantage because a report with high quality allows us to know how the robot handled the past data.
Forex Sugar Trading Results
There’s a demo account with a robot running on it. The balance amounts $11,765. It sounds weird because the chart shows that there is less than $1700 on balance. The account was deployed on January 26, 2021, and the deposit was set at $1000. Since then, the closed profit has become +$637.33. There are several orders that experience drawdown. The Floating loss is -$137.41.
The robot trades Silver (XAG/USD). The total return has become +50.0%. An average monthly return is +15.9%. The maximal drawdown wasn’t provided. The win rate is 78%. The Profit Factor is mediocre 1.35. There were -710.3 pips traded. It means the system uses Martingale quite often. The system isn’t profitable without Martingale, and this is dangerous. An average trade frequency is three deals weekly. The account has been running for 98 days.
The Risk to Reward Ratio is 9.65. An average trade length is six hours and thirty-six minutes. An average result is +$2.17. An average win is +$11.06 when an average loss is -$29.57.
The BUY direction has made three times more profits ($470.50) than the SELL direction ($166.83).
The robot works under one system.
Tuesday and Thursday are still deeply unprofitable days. It’s unprofessional to have these results.
The system trades the Asian market opening, all European trading hours, and a bit in the middle of the American session.
Profit Factor went down after January 2021.
The last week has one of the lowest Profit Factors this year – 1.17
The system uses Martingale with Hedging trading against itself. It’s so risky.
There are two packages of Forex Sugar. The one license pack costs $99 instead of $375. There’s a single real and an unlimited number of demo account licenses. The five licenses pack costs $264 instead of $999. It includes five real and unlimited demo account licenses. The pricing is high compared with other similar advisors. We don’t know about the packages’ features like updates, upgrades, support, and a refund policy.
As we can see, the price can be changed to $999. It’s a scam. No one will buy it for this price. We can note that the developer doesn’t use a professional email.
The company doesn’t provide any testimonials from clients. There’s no feedback on sites like Trustpilot or Forex Peace Army. It’s suspicious.
Forex Sugar EA is a robot that trades Price Action with Grid, Hedge, and Martingale. It’s a dangerous combo to rely on for real account trading. Its trading results do not match the chart.
Lack of vendor transparency, customer reviews and money back guarantee are the other drawbacks of this Forex system. We would not recommend you to invest in this EA.