FXParabol Review - Investdale

FXParabol is a Forex expert advisor that uses mathematical logic to trade in currency pairs. As per the vendor’s claims, this system has been trading in the live market for more than 18 months and it is supported by historical tests from 2015. They also claim that the robot has an average win rate of 70%.

There is virtually no information on the parent company behind this Forex robot. We don’t know when it was founded or where it is located. The vendor has not revealed the identities of the traders and developers, so we don’t know whether they have the required technical knowledge to build profitable trading systems. Also, we don’t know whether there are other EAs developed by this company.

Before investing in an automated trading system, we need to know it is reliable. Therefore, it becomes necessary to conduct a detailed analysis of the robot and its various performance factors like features, trading strategy, pricing, live results, backtests, customer support, and user reviews. This is the main reason for conducting this review.

We don’t exactly know when the robot was officially launched. However, the live trading account on Myfxbook has been active since August 19, 2020. It hasn’t had any noteworthy achievements so far.

What is behind the FXParabol EA?

When you purchase the robot, you receive two versions of the program, one for MT4 and the other for MT5. You will also be able to manage your license online in a Personal Area. The vendor has not shared the setup instructions, but they provide a detailed user manual with the robot.

Key features

This EA is compatible with two currency pairs, namely USD/CHF and USD/JPY. We don’t know the timeframe this EA works on, and it is unknown how much you need to invest to get started with it. It has a special system that limits the drawdown and you can easily configure it in the settings. The EA is compatible with all brokers and you can run it on any type of account.

Trading strategy

The EA is based on a combination of Bollinger Bands and Parabolic SAR indicators. It combines these indicators to capture the trend and determine when to start trading in its direction. According to the vendor, the EA has a special mathematical algorithm thanks to which it can recover losing trades.

Backtesting results of USD/JPY on the official website

This backtest was conducted on the USD/JPY pair from 2015 to 2022 using an every tick model and the H1 timeframe. The EA used an initial deposit of $10,000 to conduct 406 trades, winning 74.38% of them and generating a total net profit of $956728.63. Apart from the high win rate, it also has an impressive profit factor of 2.73. However, looking at the excessive drawdown of 96.23%, it is obvious that the EA was following a risky trading strategy.

Pricing

The current price of this EA is $289, which makes it cheaper than most other robots. By making the purchase, you get a single license and free updates. The vendor also offers a 30-day money-back guarantee.

Trading performance of FXParabol

Growth chart of FXParabol on Myfxbook

This live trading account on Myfxbook was launched on August 19, 2020. Since then, the EA has conducted only 142 trades through this account, winning 68% of them and generating a total profit of $4,556.57. The win rate is slightly lower compared to the backtesting data, but the drawdown is also lower at 22.86%. Thus we can conclude that the risk is significantly less, but it is still higher than normal.

Trading results of FXParabol on Myfxbook

From the trading history, we can see that the EA is prone to suffering consecutive losses. For the last 20 trades, it used a lot size of 0.10-0.50. The average trade length is 10 days, while the average win and loss are 51.11 pips/$83.20 and -71.74 pips/-$78.09, respectively.