Fibot EA is a fully automated Forex robot that leverages Fibonacci levels for trading, offering high operating frequency. This EA uses the famous Fibonacci retracement strategy, entering trades when the price breaks through the 38.2% correction level. It can trade using either the martingale system or more conservative strategies with strict stop-loss (SL) and take-profit (TP) settings, ensuring it opens only one trade at a time.
Key Features of Fibot EA
Fibot EA waits for strong market movements before placing buy or sell orders, making it highly responsive to market trends. With over 60 customizable settings, it allows traders to fine-tune their strategy to match their risk tolerance and trading goals. 
The EA is designed for scalping, typically aiming for 10-15 pips per trade, which often last between one to two hours. Occasionally, trades can extend for a day or two, depending on market conditions. For optimal performance, it requires a VPS with fast response times and a broker offering low or zero spreads, as its scalping nature benefits from minimal transaction costs.
While Fibot EA can sometimes employ martingale techniques, traders have the flexibility to disable or adjust this feature in the settings. Monthly profit potential depends on the chosen lot size and risk parameters.
Recommendations for Using Fibot EA
Minimum Account Balance:
- $1,000 (or $10 Cent) for H1 Timeframe
- $300 for H4 Timeframe
- Can operate reasonably well with as little as $100.
Best Currency Pairs: Works best on EURUSD and GBPUSD, but it can be used with any currency pair.
Best Timeframes: H1 and H4, though it can work on other timeframes.
Recommend running this free forex EA on a VPS (Vultr)
Low Spread ECN account is also recommended Icmarket and Exness
Broker Requirements: A reliable broker with minimal spreads and high order execution speed is crucial for maximizing the performance of this EA.
