Promoted as an EA that can work independently and in combination with other FX robots, FXPro Dragon claims to give stable profits. The ATS opens orders only when it identifies the ideal market condition. As per the vendor, the approach allows the system to work with other EAs in a single account simultaneously without high drawdown values. Although the vendor claims this MT4 tool works on multiple currency pairs, the default settings are for the USDCAD pair.
Is this robot the ideal investment option for you?
At the outset, the website is well-designed with appropriate sections dedicated to the features, pricing, performance, and backtests. But we could not find info on the developer or the team behind the EA. There is not much info on the official site about the vendor. We could not find the location address or phone contact for the vendor. The only customer support option present is an email address. From the lack of vendor transparency, we suspect that this is not a reliable expert advisor.
This FX EA uses the H4 timeframe and its main focus is on the USDCAD pair. As per the vendor, the full automation does not require optimization of trades before you start trading. Other features this EA claims to possess include responsive support, easy installation, adaptation to 4-digit brokers, and more.
How to start trading with FxPro Dragon
To buy the Standard pack, you need to pay $129. The price includes one real and one demo account, 24/5 support, free updates, an MT4 license, and lifetime access. A Premium package is also present and it costs $169. All features are similar to the Standard package except for the number of real and demo accounts you can access. No money-back assurance is present for this ATS. A refund offer is an indicator that the developer is confident of the effectiveness of the system. The absence of the offer shows that this is not a reliable EA.
As per the vendor, the FX robot works in a calculative environment. It compiles all the relevant data that help in accurate trade entries and exits. The robot avoids emotional influence while trading. The vendor claims that the automated trading approach and analytic methods the EA uses helps in making good profits. There is no mention of the strategy in use which is disappointing as it prevents us from evaluating the system more thoroughly. We could not find recommendations on the balance, settings, and other features.
FxPro Dragon Backtests
A backtest on the USDCAD pair done for three years is present on the official site. As shown in the screenshot of the strategy tester report below, with an initial deposit of $2450, the EA has made $1178579.40 of the total net profit.
A maximum drawdown of 15.10% and a profit factor of 101.41 are shown with profitability of 93.16%. The modeling quality was 90% which is insufficient to know about the spreads, slippage, commission, etc.
A real account verified by the FXBlue site is present for this FX robot. From the account statement, we can see a balance amount of $8272 present for an initial deposit of $2000. A total return of 61.8% and a drawdown of 8% are shown.
For a trading history of 86 days, the profit factor value is 43.69 and the profitability is 92.5%. The risk to reward ratio is 4.50 which indicates the approach used is not efficient enough to reduce the risk. Compared to the backtesting result, we can see that the values differ revealing that the real account trading has poor performance.
We are unable to find feedback from users of this FX EA. We look for user reviews on reputed sites like Forexpeacearmy, Trustpilot, etc., as they provide unbiased info on the FX trading tools. Without any feedback from users, we suspect this is not a popular EA.
- Fully automated EA
- Affordable price
- The trading approach is not disclosed
- Performance shows a high-risk strategy is used
- No vendor transparency
FX Pro Dragon claims to be a successful FX robot that brings stable profits. Our analysis of the approach and the performance indicates the FX EA is not a reliable tool. While the vendor provides backtests and real account trading results verified by the FXBlue site, we can see that the results from the backtests do not match the real trading results. The absence of vendor contact info and no user feedback denotes that this is not a reliable or popular EA for traders of any experience level. We do not recommend this FX robot.