FXPro Dragon is an FX robot that is capable of operating independently and with other expert advisors. As per the vendor, this FX EA uses a unique algorithm that enables it to work on multiple currency pairs with success. The vendor promises stable profits and minimal losses with this ATS. There is no mention of the developer or the team responsible for the creation of this MT4 tool. We could not find vendor-related details like the founding year, location, phone number, etc. For customer support, an email address is the only option provided. The lack of vendor info makes us suspect this is not a trustworthy expert advisor.
FxPro Dragon at a glance
|Price||$129 – $169|
FxPro Dragon functionality
As per the vendor, this MT4 tool opens orders only when it finds the market conditions favorable. This allows using multiple EA on a single account simultaneously without any major drawdowns. The vendor maintains that this ATS uses proper money management to ensure stable profits. Some of the significant features that the vendor states this EA has include:
- An easy installation process that is completed in less than 5 minutes.
- Compatibility with 4-digit brokers.
- Works mainly on the USDCAD pair using the H4 timeframe.
- Does not need customization as it is fully automated and ready to use after installation.
- Good support team.
This ATS uses a programmed analytical process and an automated trading approach which takes away the emotional factor and ensures only the statistics influence the trading decisions.
FxPro Dragon trading strategy tests
We are disappointed to note that there is no mention of the trading approach. Instead, there is a vague mention of capital management and calculated trade orders. A backtesting report is present on the official site. Here is a screenshot of the strategy tester report.
From the report, we can see that the backtesting done on the USDCAD pair using the H4 timeframe had generated a total net profit of 546595.35. The initial deposit amount was $950 and the maximum drawdown was 6.69%. Profitability of 91.66% and a profit factor of 22.29 were present for a total of 731 trades. While the profits are high, due to the use of historical data, we cannot predict a similar result in the real performance.
What about FxPro Dragon live trading results
The vendor provides a real live trading account for this FX EA. Here is a screenshot of the RUR account verified by the FXBlue site.
From the trading statement, we can see the account that started with a deposit of RUR 2000 now has a balance of 5,256.27. The total profit generated is 77.6% and the weekly and monthly returns are 9.7% and 47.6% respectively. Profitability of 91.3% and a profit factor of 11.56 are present for the account. The trading history reveals 43 days of trading with a risk/reward ratio of 5.18. While the profitability and profit factor match with the backtesting reports, the high risk/reward ratio, and small sample size make us suspect the reliability of the system.
We could not find user reviews for this FX EA on reputed third-party sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback indicates this is not a well-known product in the market. Since customer reviews help in making an informed decision, the lack of reviews also raises a red flag for this EA.
A standard package costing $129 and a Premium package costing $269 are available for this FX Robot. Free updates, 24/5 support, lifetime access, and an MT4 license are common for the two packages. They differ in the number of real and demo accounts present. While the Standard package comes with one real and one demo account, you get 3 of each for the Premium package. The vendor does not offer a money-back guarantee which makes us suspect the reliability of the product.
FxPro Dragon Review SummaryFxPro Dragon
Functionality2/5 BadMinimal info present for explaining the functionality of this FX robot.
Trading strategy1/5 AwfullyNo mention of the strategy is present although the vendor provides a backtesting report.
Live results2/5 BadLive results show a small sample size that makes the results irrelevant.
Customer support2/5 BadOnly an email address is present for contacting support.
User reviews1/5 AwfullyNo user feedback present for this EA indicating it is not a popular product.
- Fully automated system
- Verified trading results
- The trading approach is not explained
- Small sample size
- No money-back guarantee