As the name suggests, Forex Sugar seeks to sweeten and monetize your trading experience. The EA is fully automated and works 24/5 continuously to generate quick profits for users. This, according to the vendor, allows the robot to grow your account steadily. Join us as we evaluate the system to find out if you stand to gain by using this tool or not.
Forex Sugar company profile
The vendor of this product is unknown. Although an ‘about us’ page is featured in the presentation, it doesn’t reveal any information about the company. Therefore, we cannot tell the name of the company, location, year of foundation, history in this market, other EAs it has created, etc.
The highlights of Forex Sugar
These are the key highlights of the system:
- It works with any broker and is compatible with the MT4 terminal.
- The system works well with all account types, such as Micro, Cent, or Standard accounts.
- You can use any leverage, but the vendor recommends a higher leverage like 1:500.
- The dev recommends you work with low or zero spread.
- It trades on nearly all major currency pairs. However, the EURUSD pair is said to produce the best results.
- M1 is the recommended timeframe.
- The robot uses SL and TP levels.
- The minimum recommended deposit for a standard account is $1000 and <$1000 for a cent account.
- It’s easy to use and set up.
Forex Sugar trades with two strategies—scalping and grid. The former approach involves buying a currency pair and holding it for a short time so as to make profits. Therefore, the bot is able to implement numerous trades, earning a small profit amount every time. The latter strategy is used to place alternate buy and sell orders at certain levels while employing hedging.
Facts & figures
There are no backtest results for this robot. We are not sure why the devs have failed to share this data. It’s likely that they didn’t test the system on historical data. So, we cannot determine if it has can produce good trading outcomes in the long run or not.
At the moment, Forex Sugar is running a live account, which was opened about 2 months ago. To date, the EA has managed to make a profit of $183.60 using a deposit of $669.44. The loss made is -$26.72. So, the current balance stands at $847.38.
Forex Sugar makes a weekly profit of 2.6% and a monthly return of 11.4%. As a result, it has succeeded in growing this account by 23.9%. The win rate (83.8%) for trades is quite remarkable. Generally, the EA carries out 3.5 trades per day. The peak drawdown is small at -3.8%, indicating that low-risk trading is employed.
The account has a favorable risk/reward ratio of 5.48. The average win is $2.96, while the average loss is -$10.32, a sign that the system losses more than it wins. On the worst day, the EA made a loss of -$30.67 and -$18.99 on its worst week. The account has a zero risk of ruin.
The account’s monthly profits have been declining.
The robot works with small lot sizes. Scalping and grid strategies are evident.
Forex Sugar packages
The robot has two pricing plans. The basic plan is available at $149, down from $375. It comes with 1 real account and unlimited demo accounts. The professional plan is priced at $559, and it previously cost $999 before the vendor decided to reduce its cost. It features 5 real accounts and unlimited demo accounts. A 30-day money-back guarantee is included in the two plans.
Customer support is offered through email and the FAQ page. The official website also includes a knowledge bank and a blog that provide more detailed info about the service.
Forex Sugar has not been reviewed by customers as of now. We couldn’t find any testimonials regarding the system on any of the independent sites like Trustpilot, Myfxbook, or Forex Peace Army.
Is Forex Sugar a reliable system?
The EA’s live results on FXBlue prove that it is able to generate quick profits for users. However, you need to keep in mind that its profitability rate has been reducing over time.