FxPro Dragon is a fully automated system that works 24/5 without requiring any intervention from the trader’s end. It adapts itself to 4 digit brokers and trades on multiple currency pairs at the H4 chart. We dive deep into the trading records to verify the claims made by the developers on the performance.
Is investing in FxPro Dragon a Good Decision?
To analyze the trading robot and its performance, we have gone through each portion of the website to scan for information that could help us. Verified trading records on Myfxbook were also utilized for further comprehension. All the conclusions stated that the robot is not fit for trying out as there are significant risks that come with using it.
The robot is presented through a single web page that carries all the information. It isn’t easy to navigate like this without the use of subheadings and subtabs. The developers, however, fail to mention their trading experience and whereabouts. This lack of transparency raises many concerns over the efficiency of the robot itself.
The robot and the service come with the following main features:
Installs easily within 5 minutes
Adapts itself to 4 and 5 digit brokers automatically
The responsive support team answers all of your questions
It comes with verified live trading records
The developer stands over the ex4 file after you purchase the system. You have to place it in the experts’ directory of the meta trader platform. Afterward, refresh the experts’ tab, place the robot on the respective charts, and enable auto trading to begin its function. The robot trades on multiple currencies at the four-hour chart. There is no information present on what type of strategy the algorithm utilizes. To get a better understanding, we dive into the history on FX Blue. The robot uses a grid trading strategy which opens order in a similar direction if the trade goes in a loss. The average trade duration is 26.7 hours which refers to an intermediate approach between day and swing trading.
The robot comes with two different packages which differ in the number of licenses available. For $129, you will get a single license for a demo and a live account, while $169 offers three keys. Both the subscriptions come with lifetime free updates and access to customer support.
Live trading results are available on FX blue beach trash performance from 3rd March 2021 till the current date. The average monthly rate turn is 37.4%, with a big drawdown of -0.8%. The drawdown mentioned on the tracking website is wrong, which we can confirm by looking at the equity and balance curves. The separation between those two is significant, which mounts up to nearly 30 percent in loss of equity. This is evident when we jump over to the risk section, which shows a monthly loss of – 37.4%.
The robot has been trading for 86 days with a winning rate of 92.5% and a profit factor of 4.5. The average winning trade is 90.48 dollars, while the worst is -25.54 dollars.
FxPro dragon uses a risky strategy known as the great, resulting in huge losses after a period. Certain trends in the market can render the strategy useless and turn your account into dust. Also, there are no customer reviews present on noted websites such as Forex Peace Army and Trustpilot that can show us feedback on the system’s real performance.
Many algorithms in the market use grid and martingale strategies to maintain a steady upward balance and equity curve. These types of systems always result in margin calls one time or another. FxPro Dragon is a similar expert advisor, and it should be avoided.