Quivo FX is a six-year-old service that provides much stuff: Expert Advisors, Indicators, Forum community, and Educational Materials. Today’s review will be about Quivo FX. Let’s figure out how good it is.
Quivo FX Features
It has a medium list of features and various explanations:
- The robot trades fully automatically for us, without a need for human intervention.
- It works based on pending orders to enter the deals asap after the market overtakes the proper level.
- The system works with support and resistance levels.
- To manage the open positions, it uses Trailing Stop Loss, BreakEven, Candle Trail, and ATR Trail.
- The system is featured by that functionality: Information Panel, Martingale / Anti-martingale, MoneyManagement, Time filter, Close on Timer, Delete on Timer, Breakout Padding, Inverse Strategy, Spread filter, OCO (One Cancels Other), Day filter.
- Time Filter was designed to avoid trading during hours of high impact news and the end of the Friday.
- Close on Timer and Delete on Timer work to close deals at the right time.
- The demo version is available for everyone for free.
- It has only one restriction – a 0.1 Lot Size on each deal.
There’s a list of many EAs. Only several of them are paid, the rest are download free.
Big Breakout is sold for 79.90 CHF. We can get our money back within seven days. In the USD, the price is around $90. As for a robot without backtesting reports and trading results it’s high. Across the MQL5 site and Forex Store (the most well-known communities where people can buy EAs), the pricing is in the middle of the pack. There are many solutions that cost from $40 to $1500 for a product copy.
For buying it, we have to complete the onsite purchase. We have to provide all personal information about us. We don’t know what the package includes outside the EAs and refund policy.
How it works
It works fully-automatically. Everything we need is to attach the EA to the chart after customizing settings.
- The robot runs five breakout strategies.
- The EA can be run on any symbol. We’re not sure that this is effective because all currency pairs have to have optimized settings.
- The developers didn’t mention time frames.
- There’s a Martingale strategy on the board that can be turned on or off.
- It’s a list of entry strategies:
- ZigZag Breakout. The robot trades every breakout of the tops and bottoms of the ZigZag indicator.
- 1-2-3 Breakout. The EA trades the breakout of a 1-2-3 formation of the ZigZag indicator.
- 1234 Breakout. It trades the breakout of a 1234 formation of the ZigZag indicator.
- Fractals Breakout. The system trades all breakouts of the Fractals indicator.
- Candle Breakout. The robot trades the breakout of the High or Low of the last X bars.
- Inside Bar Breakout. It trades the breakout of the Inside Bar pattern.
The robot’s version is pre-optimized. It means the system wasn’t well-tested before it was realized. It’s a huge con if we talk about the robot that costs that money.
The vendor minded that a download-free version of the EA is enough to convince us. A free version can attract only newbies. For experienced Forex traders, real or demo accounts, 3rd-party verified trading results matter. It’d be great if they provided myfxbook-verified results where we’ll be able to check all sides of the performance.
The company has a page on Forex Peace Army. The profile has only one testimonial. It’s nothing for a five-year-old project.
We can find two reviews in the comment section. They are from 2016. They’re too old to be actual for making the right decision right now.
Quivo FX has a Facebook profile. There are 1998 likes and 2059 followers. The last update was published on December 13, 2017.