FxPro Dragon is a Forex robot that can trade in multiple currency pairs. As per vendor claims, this EA has a unique algorithm that allows it to generate a stable profit. We are naturally skeptical about claims made by EA vendors and think a detailed analysis is required to gauge the system’s profitability.
On the official website, the vendor has shared the backtesting and live trading results. But we can see that the EA has a very short trading history and the backtesting data has a high drawdown. It has suffered some heavy losses and this makes us think that it follows a risky trading scheme. Therefore, we don’t think this is a robot you can rely on.
What is FxPro Dragon?
This is a Forex robot that can work either as an independent system or in tandem with other robots. It can adapt to 4-digit brokers and has a support team that remains active round-the-clock. FxPro Dragon trades 24 hours a day, 5 days a week. After installing the system, you can run it immediately without any additional customizations.
Official FxPro Dragon website
The product presentation on the official website is a bit too brief. The vendor provides a short introduction to the EA and lists some of the main features while not describing them in detail. There are live trading statistics and backtesting data, but no explanation of the trading strategy. The vendor has also shared the official email address on the website.
We don’t know anything about the vendor selling this product. There is no information on the website about the parent company, so we don’t know about the year of foundation or the service history. Thus, we can say that vendor transparency has not been maintained for this EA. The overall lack of information certainly lowers our expectations from FxPro Dragon.
How can we use FXPro Dragon?
You can use this EA to trade in pairs like USD/CAD, GBP/USD, EUR/USD, USD/CHF, and USD/JPY. The vendor recommends using it on H4 charts. If you wish to know more about the installation process and how the EA functions, you can drop an email to the vendor.
Pricing & refund
There are two pricing plans for this EA, namely Standard and Premium. The Standard plan gives you access to 1 real and 1 demo account for $129. With the Premium plan, you can use 3 real and 3 demo accounts for $169. You can get a refund within 30 days if your account has a drawdown of more than 50%, even after using the recommended settings.
We don’t have an explanation for the trading strategy on the official website. This comes as a disappointment, and many traders would not trust a vendor that does not provide some kind of strategy insight for their robot.
This backtest was conducted from 2017 to 2020 with 90% modeling quality. The EA used an initial deposit of $2450 to generate a net profit of $1178579.40 while winning 93.16% of all trades placed. Here, we must mention that the relative drawdown is a bit high at 22%, and this indicates a risky trading strategy.
Here we have a live trading account for FxPro Dragon on FXBlue. This account has been active for only 86 days, which means it hasn’t been exposed to different market conditions. We can see that the EA has a win rate of 92.5% and has closed a profit of $3271.22, however, this does not tell the whole story.
As you can see, the EA has suffered a total loss of $2953 from open positions, and this makes the net profit $317.70 only. Thus, it is clear that the EA follows a dangerous trading strategy that can lead to huge losses.
What customers say
We were unable to find any user reviews for this Forex robot on trusted third-party websites. Thus, we can say that FxPro Dragon doesn’t have much of a reputation as of now.
Summary: Is FxPro Dragon a trustworthy EA?FxPro Dragon
Trading Results1/5 Awfully
- Affordable pricing
- High trading risks
- Lack of vendor transparency
- Lack of strategy insight