Advanced Fibo Levels is a Forex expert advisor that runs on both Metatrader 4 and Metatrader 5. It was launched on 14th July 2021 and the seller is currently offering it at a discount. According to the vendor, this robot has undergone stress tests for several years where it had a favorable profit/drawdown ratio. We cannot simply trust these claims blindly, however, which makes it necessary to look into each and every performance aspect of the system.

Product offering

There is no official website for this Forex robot. On the MQL5 product page, the seller has highlighted the special offer and provided a short introduction to the system. We have a list of vendor recommendations and EA settings. However, there are no proper explanations provided for the features. The presentation is not very detailed and at first glance, it does not look like a reliable expert advisor.

Advanced Fibo Levels is a product from Ho Tuan Thang, a Vietnamese developer. Unfortunately, there is little or no available information on this person. We know nothing about their background and trading history, and there is no official contact information. The developer has two other EAs known as Advanced Hedge and Advanced Bollinger Bands.

Currently, you can purchase this EA at the price of $49. According to the vendor, this is a limited-time offer and the price will be increased after one week. This is a one-time fee and there are no subscription or rental options available. There is a free demo version of the system you can download for testing purposes. The vendor does not offer a money-back guarantee for this product, which is quite disappointing.

Type Fully-automated EA 
Price $49
Strategy Fibonacci
Compatible Platforms MT4, MT5
Currency Pairs EUR/USD, GBP/USD
Timeframe M15
Recommended Min. Deposit $3000
Leverage N/A

Trading strategy

Advanced Fibo Levels follows an automated Fibonacci strategy. The vendor has not properly explained this trading scheme, so we don’t exactly know how the robot identifies favorable trading opportunities. Forex traders naturally wish to study the minute details of the trading strategy before investing in a robot. As such, this might lead to potential buyers shying away from this EA.

You can use it to trade in pairs like GBP/USD and EUR/USD. As per vendor recommendation, you should run it on M15 charts. To get started with Advanced Fibo Levels, you need to make a minimum deposit of $3000. The system is not sensitive to slippage or spread. You have the option of modifying the EA settings and setting the maximum trading lot size, Fibonacci Period, take profit, stop loss, maximum sell and buy orders, maximum volume, and initial volume. 

Trading results

Backtesting results are very important for Forex EAs since they reveal long-term performance. EA vendors often test their systems using historical data to determine their robustness in the face of difficult market conditions. Unfortunately, there is no backtesting data available for Advanced Fibo Levels. This makes it difficult for us to assess the robot’s profitability.

Growth chart of Advanced Fibo Levels.

At this moment, there are no live trading accounts for this expert advisor on third-party websites like Myfxbook, FXBlue, and FXStat. Live trading results reveal important performance parameters like profitability, profit factor, drawdown, Sharpe ratio, etc. By analyzing these parameters and studying the recent trading activity, we can get a clearer idea about the trading performance. 

On the developer’s profile on MQL5, there are a few screenshots of trades placed by the system. However, we have no way of verifying their authenticity. Without verified trading statistics, we cannot consider this a reliable Forex robot.

Customer reviews

User reviews for Advanced Fibo Levels on MQL5.

We couldn’t find any customer reviews for this robot on trusted third-party websites. When there are no traders writing reviews about a particular system, you can tell that it has no reputation whatsoever. On the MQL5 website, there are a few user reviews for Advanced Fibo Levels. All of them are positive reviews that appear quite generic and we suspect the vendor has manufactured them. 

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PROS
Available at an affordable price
Free demo version offered
CONS
Lack of vendor transparency
No live trading results
No backtesting data
Money-back guarantee is not available
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Verdict
Advanced Fibo Levels is an expert advisor you should avoid at all costs. The vendor has not shared any type of trading proof for this system, so it is highly likely to be a scam. Trading with this EA can lead to disastrous consequences due to its lack of real-time trading experience. The absence of a refund policy further compounds the risk.

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