Forex Sugar is an FX robot that claims to be a revolutionary system that claims it can provide traders with high profits. Developed by Brian Jones, this is an automated software that claims to continuously monitor as well as trade different trading instruments 24 hours per day. The developer claims that this system is fast and easy to install and does not need market monitoring.
Two price packages are present for this FX robot. For a real account and an unlimited number of demo accounts, the cost is $99. For 5 real accounts and an unlimited number of demo accounts, the price is $264. There is no money-back guarantee present for this EA. An online contact form and the email address of the developer are the two options given for support.
As per the info on the official site, the EA works by calculating a few indicators and identifying the SL, TP, and other parameters which are dynamic and not fixed. The EA works best in a stable market as it pauses during influential news events. This FX Robot is compatible with the MT4 platform and supports all FX brokers providing the platform. You can use cent, micro, and standard accounts for this system and the vendor recommends leverage of 1:500 and a minimum deposit of $500. The main pairs this FX EA works on include AUDUSD, EURGBP, XAUUSD, and XAGUSD using the M15 timeframe.
Forex Sugar Trading Approach
As per the developer, this EA uses technical indicators and a price action approach for trading. It reacts to live news events. The SL and TP have been set by default and all positions are closed based on the new impact and indicators. This approach allows you to hide the SL and TP from the broker and increase the pips you gain by keeping a profitable position open. In case of a position that indicates loss, the EA will close the position so the losses are minimal.
A backtesting result verified by the myfxbook site is shown on the site. Here are the results of the strategy test.
From the trading stats of the test that started in January 2020 and ended in April 2020, we can see a total profit of 689.01% and a drawdown value of 27.76%. The daily profit is 1.88% and the monthly profit is 74.77%. A total of 354 trades have been executed with a profit factor of 3.47 and profitability of 70%. From the trading history, we can see lot sizes of 7.14. The low profit factor and high lot size indicate that the strategy used was very risky.
Forex Sugar Live Trading Results
A live demo account verified by the FXBlue site is shown here. This demo account started in January 2021 has completed 176 days of trading.
From the trading stats, we can see a total return of 163.3%, a monthly return of 17.5%, and a weekly profit of 3.9%. The peak drawdown is 1% and profitability is 77.9%. For a starting deposit of $1000, the account has a balance of 12,760.81. A risk to reward ratio of 11.77 is present, which is very high and indicates a risky strategy. Comparing the backtest results with the demo account we can see that the values in the backtest do not correlate with that of the demo results. The stats of both tests reveal a risky trading approach.
What are The Risks WithForex Sugar?
From our evaluation of the backtests, demo test, and strategy used by this MT4 tool we find that it is not a reliable system. Here are the important risks we identified in this FX robot:
- Insufficient explanation of the trading approach
- High lot sizes used in backtests and low profitability
- High risk to reward ratio in the demo results
We could not find customer reviews for this ATS on reputed sites such as Forexpeacearmy, Trustpilot, etc. Lack of popularity is one of the reasons we attribute to the lack of reviews.
What are the Pros & Cons of Investing in Forex Sugar?
|Fully automated system||High-risk approach used in backtests and demo account results|
|No real account results present|
|No money-back-guarantee offered|
From our assessment of the strategy, backtests, and demo account results, we find the EA is using a risky approach that can easily blow up your account if you are not careful.
Forex Sugar Conclusion
Forex Sugar by Brian Jones is an MT4 tool that claims to provide profitable trading. But our analysis of the ATS reveals that it does not perform well and uses a risky trading approach. Further the lack of user reviews and insufficient support confirm our suspicions about the reliability of the system. In short, this is not a trustworthy EA.