Expert AdvisorsForex

Advanced Fibo Levels Review: Things You Need to Know Before Investing

2 Mins read
4.5

Advanced Fibo Levels is a Forex expert advisor that can trade without any manual input from the user. It is compatible with both MT4 and MT5 trading platforms. The vendor claims that the EA has been subjected to stress tests for a long period of time and has passed each year with an advantageous profit/drawdown ratio.

Advanced Fibo Levels trading strategy 

This is a Fibonacci-based trading system that uses an automated Fibonacci trading scheme. It uses the Advanced Fibo Levels indicator for making its entry. If the market is up, it draws Fibonacci levels from swing high to swing low. It draws the levels from swing low to swing high when the market is down. 

Advanced Fibo Levels backtesting report 

EA vendors often test their systems using archival data in order to check their robustness. Unfortunately, there are no backtesting results for Advanced Fibo Levels. 

Advanced Fibo Levels live results 

Growth chart of Advanced Fibo Levels
Growth chart of Advanced Fibo Levels

Unfortunately, there are no verified trading accounts for this robot on websites like Myfxbook, FXBlue, and FXStat. Here we have a live trading account on MQL5 that has been active since 24th December 2021. The robot has spent a very short time in the live market during which it has had only nine trading days. 

Out of 20 trades placed through this account, 16 have been closed in profit. This means the robot has a win rate of 80%. The total profit generated through this account is $39.83, while the profit factor is 2.05. We can see that the robot holds its trades for an average of 18 hours. 

The average profit and loss are $4.85 and $9.45, respectively. It has a slightly high drawdown of 27.4%, which tells us that it trades with a fair amount of risk. During its live trading stint, there have been 12 maximum consecutive wins and 1 maximum consecutive loss.

Some features of Advanced Fibo Levels 

This is a robot that trades in GBP/USD and EUR/USD. The vendor recommends running it on M15 charts. You can get started with a recommended deposit of $3000. Advanced Fibo Levels is not a broker-sensitive EA. Also, it is not sensitive to slippage and spread. For the live trading account, it uses 1:1000 leverage.

Total return3.98%
Maximal drawdown27.4%
Average monthly gain3.98%
DeveloperHo Tuan Thang
Created, year2021
Price $99
TypeFibonacci
TimeframeM15
Lot sizeN/A
Leverage1:1000
Min. depositN/A
Recommended deposit $3000
Recommended brokersAny
Currency pairs EUR/USD, GBP/USD
ECNNo

Main things to consider if you invest in Advanced Fibo Levels 

If you plan of purchasing this robot, you need to know the following:

Lack of vendor transparency 

We don’t have enough information on Ho Tuan Thang, the developer behind this system, other than the fact that they are based in Vietnam. There is no contact or background information on this person and we don’t know anything about the people they work with.

Lack of verified trading statistics 

The trading results of this robot are not verified by a third party. Most traders look for verified results since they are considered a sign of authenticity. With verified accounts, the vendor has no chance of manipulating the results.

Additional EA for free

When you purchase this robot, you are entitled to receive a free copy of another EA or an indicator. The vendor also includes all future updates for the EA. You must contact the vendor via MQL5 to avail of this offer. 

Pricing details 

The current price of this EA is $99, which makes it extremely cheap compared to others. You can also download a free demo version of the system for testing purposes. However, the vendor does not offer a money-back guarantee.

Customer reviews 

User reviews for Advanced Fibo Levels on MQL5
User reviews for Advanced Fibo Levels on MQL5

We were unable to find any user reviews for this expert advisor on websites like Quora, Myfxbook, Trustpilot, and Forexpeacearmy. While there are a few reviews on MQL5, we have no way of telling whether they are genuine or not.

Advanced Fibo Levels Summary

4.5
Advanced Fibo Levels is a robot that is not backed by verified trading statistics. Also, the vendor has not shared the historical test results for this system. The developer has no reputation and there are no customer reviews for the EA on third-party websites. Last but not the least, there is no money-back guarantee for the EA.
5.0

Functionality

4.0

Reliability

4.0

Strategy

6.0

Price

4.0

Trading Results

4.0

Vendor Transparency

Pros

  • +Affordable price
  • +Compatible with all brokers

Cons

  • -No verified trading results
  • -No money-back guarantee
  • -Lack of vendor transparency
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