Advanced Fibo Levels is an FX robot that uses the Fibonacci method for trading. It is a completely automated FX EA that uses the Fibonacci indicator and strategy for its operation. This ATS works on the EURUSD and GBPUSD pairs. It uses the M15 time frame. As per the developer, this FX robot has undergone several stress tests for the long term and has emerged profitable every year since 2019. The developer claims this system can provide high returns with low drawdown.
How Advanced Fibo Levels EA works
This FX EA is developed by Ho Tuan Thang. The developer is based in Vietnam and as per the MQL5 site info, he does not have any experience but has created 6 products and 313 demo versions. No signals or subscribers are present. His other products are Advanced Hedge and Advanced Bollinger. To contact the developer, you can use the Telegram channel link provided on the profile page or use the messaging board on the MQL5 site.
The developer does not provide much info on the FX EA. From the info provided we find this system works on two currency pairs namely the EURUSD and GBPUSD pairs and works on the 15 minutes time frame. You can use the set files or the default settings for trading. The developer claims this ATS is not sensitive to the slippage and spread of the broker and that it is compatible with all brokers. He recommends using a minimum deposit of $3000.
Applied strategies
Other than the mention of the Fibonacci method, the developer does not elaborate on the strategy used. The lack of strategy explanation makes us suspicious of the reliability of the system. Further, there are no backtests present for the system. The failure of the developer to explain the strategy and the lack of backtests raise a red flag for this FX EA.
Advanced Fibo Levels trading results
The developer provides a screenshot of trading results for this FX EA. However, the image shown above does not reveal important details like the drawdown, profitability, and other data. From the data present, we find the account started with an initial deposit of $900 and has completed 7 weeks of trading with a profit of $9878.04.
The leverage of 1:500 is used for this account and the profit factor is 2.36. We can see a growth of 1234% which is very high for such a short trading duration. The high growth indicates a high-risk approach. Further, the failure of the developer to provide a proper trading result verified by reputed sites like myfxbook, FXBlue, etc. raises a red flag for this EA. We suspect it is not a reliable system.
Pricing & refund
This FX robot costs $49 and comes with a free demo offer. The developer does not provide further details on the features available with the package. When compared to other similar systems in the market, we find the price is very affordable.
However, the developer states that this price is for two sales copies only and further 10 copies will be available at $149 of which only 3 copies are left and after they are sold, the price will be $249. The final price is a bit expensive and from our evaluation of the system so far, we find the EA is not worth the money. Further, the developer does not provide a money-back guarantee which makes us suspect this is not a reliable ATS.
Other notes
We found a few customer reviews for this FX robot on the MQL5 site. While the reviews indicate the system is performing well, we are skeptical of the veracity of the feedback. As the MQL5 site promotes the product, there is a high chance of the results being manipulated. The lack of feedback for this system on reputed sites like Forexpeacearmy, Trustpilot, etc. shows this is not a popular system.
