FXParabol Review: Things to Consider Before Investing

FXParabol boasts a fully automated system with verified stats that ensures profitable results. The vendor claims that the FX EA has completed more than 18 months of live trading and has backtesting results done since 2015. A 70% winning rate is claimed by the vendor for this system on average. It works mainly on the USDJPY and the USDCHF pairs. The website mentions the Forex Store company powering the FX EA. Other than the mention, there are no other details present on the company such as its founding year, location, phone number, etc.

The highlights of FXParabol

Here are some features that according to the developer set FXParabol apart in the market:

Money management

The combination of indicators used by the FX EA helps to identify trends accurately and place orders accordingly. Further, the settings like SL, TP, trailing stop, etc. are used to ensure your capital is managed properly and generates better returns.

Generates an average win rate of 70%

As per the vendor, the system has been tested in backtests and a real trading environment. Over 18 months of real trading activity shows the FX robot has a winning rate of 70%.

Drawdown control

The vendor claims that the robot has a special system that minimizes the drawdowns and it can be configured in the settings easily.

Trading strategy of FXParabol

According to the info provided by the vendor, this FX robot uses the Parabolic SAR and the Bollinger Bands for identifying successful trades. It identifies the specific trend that can bring profits and determines the entry point in the direction of the detected trend. Additionally, the FX robot uses an exclusive mathematical algorithm that helps to compensate for trade losses the robot incurs.

Backtesting reports

A few backtests are present for the FX robot on the official site. Here is one of the backtests done from 2015 to 2022 using the H1 timeframe. 

From the above strategy tester report, we can see the testing was done for the USDJPY pair. An initial deposit of 10000 had generated a total net profit of 956728.63 for a total of 406 trades. Profitability of 74.385 and a profit factor of 2.73% were present. The maximum drawdown is 43.53%. From the results, we can see the drawdown is high indicating a risky approach.

Trading results in real time

A live real USD account verified by the myfxbook site is present for this FX EA. Here are screenshots of the results:

From the above stats, we can see the EA has generated a total profit of 407.90% for an initial deposit of $1,500. The daily and monthly profits are 0.28% and 8.72% respectively. A drawdown of 59.04% is present. While the growth curve shows a steady upward incline, the high drawdown indicates a risky approach that can make you lose more than half of your capital.

Further, the trading history shows varying lot sizes are used ranging from 0.10 to 0.34. The big lot sizes show a high-risk approach is used which can be detrimental to your capital. Traders will find the system too risky with the high drawdown and big lot sizes used.

FXParabol price

To buy this FX robot, you have to pay $289. The pricing includes one EA license, a user manual, 24/7 technical support, and free updates. You will get two versions namely the MT4 and MT5 versions with the package. A 30-day money-back guarantee is present. When compared to the market average, we find the price is expensive.

Customer support

For support, the vendor provides an online contact form. We could not find other methods of support like a live chat window, email address, FAQ, phone number, location address, etc.

Are traders happy with FXParabol?

Unfortunately, we cannot find user feedback for this FX robot on trusted third-party sites like Forexpeacearmy, Trustpilot, etc.