FXParabol is an automated software that promises effective FX trading results. It works mainly on the USDJPY and the USDCHF pairs. The vendor boasts an average winning rate of 70%. More than 18 months of live trading results are present for the system and it has been backtested from 2015. As per the vendor, the FX robot uses Bollinger Band and Parabolic SARindicators.
Product offering
The official site has information on the FX EA, a few verified live trading results, and backtests. There are sections for pricing and customer support. Other than the mention of ForexStore, there are no details present on the site concerning the vendor. We could not find company info like founding year, developer team, location address, phone number, etc. For customer support, an online contact form is present.
FXParabol
| Type | Fully-automated EA |
| Price | $289 |
| Strategy | Trend-following |
| Compatible Platforms | MT4, MT5 |
| Currency Pairs | USDJPY, USDCHF |
| Timeframe | N/A |
| Recommended Min. Deposit | N/A |
| Recommended Deposit | N/A |
| Leverage | N/A |
To buy this FX robot, you need to pay $289. The package includes one license, a detailed user guide, 24/7 technical support, and free updates. Two versions of the FX robot are provided with the package for the MT4 and MT5 platforms. A 30-day money-back assurance is present for the product. When compared to the price of competitor systems, we find the price is a bit expensive.
Trading strategy
As per the info available on the official site, the system uses a blend of indicators that helps to identify the direction of the trend and find accurate entries accordingly. The FX robot uses a special algorithm that helps to compensate for losing trades. This ATS works on two currency pairs: USDJPY and USDCHF.
The vendor states that the software includes a special feature that restricts the drawdowns and you can configure this feature into the settings easily. Other features that the vendor focuses on for this ATS include broker compatibility and the use of all types of accounts. However, there is no info on the timeframe and the recommended deposit for using this FX EA.
Trading results
A few backtesting reports are posted on the official site. We have analyzed one of them here.
From the above strategy tester report using the aggressive trading style, we can see a timeframe of H1 was used for the USDJPY pair using the EveryTick model. For an initial deposit of $10000, a total net profit of 956728.63 was generated. A total of 406 trades were executed for the test executed from 2015 to 2022. Profitability of 74% and a profit factor of 2.73 were present. The maximum drawdown for the account was 43.53%. From the results, we can see the drawdown is high which is not as claimed by the vendor. Such a high drawdown is indicative of a risky approach.
Live trading results verified by the myfxbook site are present. Here is one of the accounts working on the USDJPY pair and the leverage of 1:500 on the MT4 terminal.
From the above stats, we can see the FX robot has generated a total profit of 427.75% and an absolute profit of a similar value. The daily and monthly profits are 0.31% and 9.95% respectively. A drawdown of 22.86% is present for the account that started in August 2020 with an initial deposit of $1000. A total of 134 trades have been executed with 69% profitability and a profit factor of 2.31.
From the trading history, we can see varying lot sizes ranging from 0.10 to 0.34 are used. The big lot sizes, low profits, and the drawdown exceeding 20% show that the approach is risky and can harm your capital. Comparing the results with the backtests we find that while the drawdown is higher in the backtests, the profits are lower in real trading indicating the performance is below average.
Customer reviews
Unfortunately, we could not find user reviews for this FX EA on trusted review sites like Trustpilot, Forexpeacearmy, etc.
