Expert AdvisorsForex

FXParabol Review: Things You Need to Know Before Investing

3 Mins read
2.8

FXParabol claims to be a highly effective automated system. The vendor provides verified stats to prove the efficacy of the MT4 tool. This FX robot acts on two main currency pairs namely USDJPY and USDCHF. As per the vendor, the robot has generated more than 18 million in profits after 18 months of live trading. It has been tested on historical data since 2015 and shows an average win rate of 70%.

FXParabol trading strategy

According to the vendor, this FX robot uses a blend of two indicators to identify the trend and find the accurate entries as per the trend direction. The FX robot also uses a unique mathematical algorithm that helps it to compensate for the losses incurred. This MT4 tool uses the Parabolic SAR and the Bollinger Bands. It also includes a special system to minimize drawdowns which you can add to the settings easily.

FXParabol backtesting report

A few backtesting results are present for the FX EA. Here is one of the reports using an aggressive style of trading on the USDJPY pair. The testing was done in the H1 timeframe from 2015 to 2022. 

Backtesting report of FXParabol on the official site
Backtesting report of FXParabol on the official site

From the above report, a total net profit of 956728.63 was generated from an initial deposit of $10000. A total of 406 trades were executed with profitability of 74.38% and a profit factor of 2.73. The maximum drawdown is 43.53%. From the results, we can see the profits are high denoting good performance. But the high drawdown indicates a risky approach that can endanger the account.

FXParabol live results

A real USD account using the FXOpen broker and the leverage of 1:500 on the MT4 platform is shown here:

Growth curve of FXParabol on the Myfxbook site
Growth curve of FXParabol on the Myfxbook site
Trading stats of FXParabol on the Myfxbook site
Trading stats of FXParabol on the Myfxbook site

From the above stats, we can see that a total profit of 413.96% is the total generated profit with a daily return of 0.27% and a monthly return of 8.60%. A drawdown of 59.04 is present for the account. A total of 163 trades have been executed with 70% profitability and a profit factor of 2.60.  From the trading history, we can see the lot sizes vary from 0.10 to 0.15. The big lot sizes and high drawdown are indicative of a risky strategy which is similar to the backtesting results showing the high risk involved in using the FX EA.

Some features of FXParabol

The key features of this FX EA that make it competitive as per the vendor are:

  • It works on the MT4 platform and on the MT5 platform too.
  • The robot uses drawdown control.
  • You can use it on any broker type and account.
  • The USDJPY and USDCHF are the pairs this FX robot works mainly on.
  • A timeframe of H1 is recommended by the vendor.
  • It is compatible with any broker and you can use the system on any broker and any type of account.
Total return413.96%
Maximal drawdown 59.04%
Average monthly gain 8.60%
DeveloperN/A
Created yearN/A
Price$289
TypeIndicator-based trend strategy
TimeframeH1
Lot sizenot less than 1000 units per 0.1 of a standard lot
LeverageN/A
Min.depositN/A
Recommended depositN/A
Recommended brokersAny
Currency pairsUSDJPY, USDCHF
ECNYes

Main things to consider if you invest with FXParabol

If you are interested in this EA, then you need to pay attention to:

Verified trading results

From the live verified real trading stats, we find the system uses a risky approach. The big drawdown and the varying and large lot sizes show the high risk involved in using the FX EA. We find the backtesting report also reveals a similar high drawdown corroborating the risky strategy.

Lack of vendor transparency

Other than the mention of the website being powered by the Forex Store, the vendor does not provide company details like founding year, team member info, location address, phone number, etc. 

Expensive pricing

When compared to the market average we find the price of this FX EA is expensive. While the vendor provides a money refund if not satisfied with the product, the expensive pricing can be a deterrent for users.

Pricing details

To buy this FX EA, you need to pay $289. The pricing includes one software license, a detailed user manual, 24/7 technical support, and free updates. When compared to the prevailing price of similar systems in the market we find the cost of the package is expensive. The vendor provides a 30-day refund offer for the package.

Other notes

Unfortunately, we cannot find feedback for this FX robot on trusted review sites such as Forexpeacearmy, Trustpilot, etc.

FXParabol Summary

2.8
FXParabol has backtesting reports and real verified trading results to prove its efficacy. Our assessment of the FX EA reveals some crucial drawbacks like the absence of vendor transparency, risky strategy in real trading and backtesting, and expensive pricing.
3.0

Functionality

3.0

Reliability

3.0

Strategy

3.0

Price

3.0

Trading Results

2.0

Vendor Transparency

Pros

  • +It is fully automated
  • +Verified trading results

Cons

  • -High drawdown and big lot size in real trading
  • -Absence of vendor transparency
  • -Expensive pricing
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