FXPro Dragon has a presentation that looks familiar to us. There was a signal service several months ago where two advisors blew two real accounts. The presentation itself is horribly designed. The developers claim that it’s “ONE of the best Forex robots for Metatrader 4 is going to help you with that!” We cannot be sure that it’s not manipulation.
FXPro Dragon: To Trust or Not to Trust?
We wouldn’t trust our hard earned funds to this system to trade. The system stopped trading almost a month ago having some deals in a huge drawdown that will be closed with losses or already closed.
The site doesn’t include extended information about how the system is going to make us richer:
- The advisor can work automatically for us. It’s a common feature.
- We can use it with other robots on the same account at the same time.
- They should conflict with each other.
- The system seeks trading opportunities during the whole time when markets are opened.
- The system knows how to work with low drawdowns.
- There’s a money management feature.
- It can be used on any cross pair that we want.
- The robot doesn’t trade emotionally.
- The system calculates the Entry point when the market fits them.
- The expert advisor is easy to set up.
- The robot can work with four-digit brokers.
- We may rely on 24/75 support.
- The system trades only on USDCAD.
- The time frame is H4. So, it requires much margin.
The presentation includes two packages. The Standard pack is available for $129. There’s one real and one demo account, MT4 support, lifetime access, 24/5 support, and free updates. The most expensive pack Premium package costs $169. It includes three real and demo licenses. The offer isn’t supported by a money-back guarantee.
Verified Trading Results
There’s a single report of USDCAD on the H4 time frame provided. The modeling quality was 90.00% with 20 pips spreads. An initial deposit was $2,450. The total net profit has become $1,178,579. The profit factor was 101.41. The maximum drawdown was 15.10%. The system has closed 541 deals. The accuracy rate was 92.41% for Shorts and 97.50% for Longs.
The robot has been running a real USD account with a low margin level because many orders are in drawdowns -$2953 (floating loss). The account was created on March 23, 2021. The closed profit is $3271. The free margin level is at $4,818.
The total return is 61.8% after 86 days. An average monthly return is 37.4%. The win rate is 92.5%. The profit factor is 43.69. It has traded 969.3 pips gained. An average trade frequency is 0.5 deals weekly.
The risk to reward ratio is 4.50. The worst day is -$66.72. The risk of ruin is 0.0%. An average trade length is over twenty-six hours. An average result is $81.78. An average win is $90.48 when an average loss is -$25.54. That data doesn’t count losses from drawdown orders.
The system prefers trading on the Sell direction (36 orders) than on the Buy (4 orders).
We may note that the robot works only based on one strategy.
Monday and Tuesday are the most traded days.
The robot trades all day almost equally.
June 2021’s profitability went down. There were no open orders in July.
The robot works with low trading frequency.
There are many orders lost but they won’t be updated by fxblue because most likely the devs haven’t logged into the account.
The company has no transparency at all. We don’t know who they are and what strategies the system uses.
FXProDragon runs its page on Forex Peace Army. However, we have no customer reviews there.
The robot cannot cut drawdowns effectively without sitting in insanely deep drawdowns that can easily force your account to lose 30-40% of the balance.