FxPro Dragon is a Forex tool that opens and manages trading positions without the input of a human. It can work both: as a single system on the account and in a combination with any other EA, at the same time without getting bigger drawdowns. The software does not open orders all the time, it awaits the best moment to enter the market.
According to the developer, its algorithm is so unique that the EA can easily work on many currency pairs. By claiming that the EA aims at protecting trader’s capital through proper money management, we need to see a good explanation of how this is achieved. Otherwise we can’t trust it.
Vendor Transparency
The identity of the Fx Pro Dragon vendor is undisclosed. The software is sold via the website fxprodragon.com. For inquiries related to the system, the developer can be reached through [email protected]
How FxPro Dragon Works
- According to the developer, FxPro Dragon is an automated trading system that allows traders to sit back and watch the signals do their magic.
- The software stays on and operational 24/5 scanning the markets for the next available trading setup.
- Upon purchase, the trader is required to download the software, install it by following the manual provided, and thereafter trading begins.
Timeframe, Currency Pairs, Deposit
- The software trades many currency pairs though according to its developer, it delivers stable profits when trading the USDCAD pair.
- The EA trades on the H4 timeframe and can work with 4 digit brokers.
- The developer does not provide any recommendation on the leverage to use and the minimum deposit required.
Trading Approach
On the trading approach, we are not told much by the developer. He only states that the system uses proper capital management and calculates trade entries and exits. We are also told that the robot stays on and operational 24/5 scanning the markets for the next available trade to execute.
Pricing and Refund
FX Pro Dragon has two packages known as Standard and Premium. The Standard package costs $129 and includes 1 real and 1 demo whereas Premium retails at $169 and has 3 real and 3 demo accounts. Both packages come with an MT4 license, lifetime access, 24/5 support, and free updates. The EA does not offer a money-back guarantee.
Trading Results
The developer has not explained what type of trading strategy he uses to come up with the trades.
Looking at the backtesting report as shown in the screenshot above, we can see that the EA traded the account from January 2, 2017 to January 4, 2021.
The system had a profit gain of $117859.40 in 541 trades from an initial deposit of $2450. The winning percentage was 93.16% while the drawdown was 15.10%. The average consecutive wins and average consecutive losses were 4 and 1 respectively.
The average profit trade and average loss trade were $2361.74 and -$317.23. This shows a good risk to reward ratio where the winning trade has a big profit while the losing trade has a small loss.
This is a live trading account for FXPro Dragon. The robot has been trading since March 21st, 2021. There is a profit gain of $3271.22. Its winning percentage is 92.5% whereas the peak drawdown is -0.8%.
The average win and average loss are $90.48 and -$25.54 respectively. The total return is 61.8%, monthly return stands at 37.4% and finally, the weekly return is currently at 7.9%.
The robot trades only the USDCAD currency pair and most positions last for about 26 hours. The EA recorded -$66.2 in its worst day, -$45.22 for the worst week, and finally $210.76 for the worst month performance.
Both backtesting reports and trading results have more than a 90% winning percentage. The backtesting report has a bigger drawdown compared to the one on live trading results. The total returns on investment for both accounts are above 50%.
People say that Fx Pro Dragon is…
Doubtful. We doubt the legitimacy of the Fx Pro Dragon, this is because the developer has provided very little information about it and there are no customer reviews that could have given us a hint on how it works in reality.
Sometimes you can be moved by how a customer shares his/her experience with an EA, not just trading results provided.
Verdict
Pros
- It’s a fully automated EA
- Backtest report provided
- The live trading results provided
Cons
- There are no customer reviews
- No explanation of the trading strategy
- There is no money-back guarantee
FxPro Dragon Conclusion
The presentation of this EA is not enough to convince us to click that payment button. There are various claims that this system projects to do and our wish to the developer would be to showcase for us how exactly they happen. For example, we expect the developer to break down how the EA achieves lower drawdown while trying to protect the trader’s investment. We cannot buy a robot with no customer reviews yet we rely on them to get an idea of what the existing clients are experiencing for us to make a well-informed decision.
