FXParabol is a fully-automated Forex trading system. It is supported by historical data based tests from 2015. As per the vendor’s claim, the EA has an average win rate of 70%. We can see that this robot is compatible with all brokers and account types. Also, the vendor offers it at a reasonable price. That being said, the system suffers from a lack of transparency. It suffers losses quite often, which means it follows a risky trading strategy.
Vendor transparency
On the official website, there is no background information on the developer. We don’t know where the parent company is based or when it was launched. Since the identities of the developers are unknown, we don’t know whether they have the required experience to build a profitable trading system. Moreover, they haven’t shared any contact information.
How FXParabol works
This EA is compatible with both MT4 and MT5 trading platforms. It has a special system that reduces the drawdown, and you can configure this system in the EA settings. You can run the EA on any broker and account type.
Timeframe, currency pairs, deposit
This EA works on just two currency pairs, namely USD/CHF and USD/JPY. The vendor has not mentioned what timeframe it trades on what the minimum required deposit is. For the live trading account, the EA uses a deposit of $1000 and 1:500 leverage.
Trading approach
The trading strategy of this expert advisor is based on indicators like Bollinger Bands and Parabolic SAR. It combines these indicators in order to identify a trend and determine the perfect opportunity to start trading in the general direction of the dominant trend. According to the developer, the EA has a unique algorithm that allows it to recover losing trades. However, they haven’t clearly explained how this system works.
Pricing and refund
The current price of this Forex robot is $289, which is pretty close to the market average. By purchasing the EA, you get access to both MT4 and MT5 versions. There is a personal area where you will be able to manage the license.
The vendor provides a detailed user manual for this expert advisor. You also get access to 24/7 technical support and free updates. There is a 30-day money-back guarantee for this robot. However, users are eligible for a refund only when the drawdown is more than 35%, even after using the recommended settings.
Trading results
This live trading account on Myfxbook was launched on August 19, 2020. The EA has placed only 141 trades through this account, which means it has a low trading frequency. It currently has a win rate of 68%, which is slightly less than what the vendor claims on the website.
The daily and monthly gains are 0.31% and 9.80% respectively, while the total profit is $4513.02. The profit factor is 2.28 while the time-weighted return is 451.30%.
From the recent trading history, we can see that the EA trades with lot sizes varying between 0.10 and 0.34. It is able to win substantial profits only when it trades with a larger lot size. Also, we can see that it suffers losses quite frequently, which makes it quite risky. The average win and loss for this account are 51.13 pips/$83.62 and -71.74 pips/-$78.09, respectively.
This backtest was conducted on the USD/JPY pair from 2015 to 2022 for the H1 timeframe. The EA conducted 406 trades, winning 74.38% of them. Here, the win rate is significantly higher compared to the live statistics. The relative drawdown was extremely high at 96.23%, thus reaffirming our suspicion that the EA follows a high-risk strategy.
People say that FXParabol is…
Doubtful. At this moment, there are no reviews for this EA on third-party websites like Myfxbook, Quora, Forex Peace Army, and Trustpilot.
Verdict
| Pros | Cons |
| Verified trading statistics | Lack of vendor transparency |
| Money-back guarantee offer | Frequent losses suffered during live trading |
FXParabol Conclusion
FXParabol is an EA sold by a vendor we don’t know much about. Although it has a high win rate, it seems to be using a high-risk trading strategy. This enhances the drawdown of the trading account, thus exposing you to heavy losses. There is no contact information shared by the vendor and not all the features have been explained in detail.
