Fallen Angels are an archetype that was released in the Phantom Darkness, however, this is unknown to most people as the first Fallen Angel card was dubbed as "Darklord Zerato". Yes, Darklord Zerato is indeed a Fallen Angel. After that cards such as Fallen Angel Asmodeus and Fallen Angel Superbia have been released through V Jump. What exactly do these cards do? If you would like to know, continue reading, but basically they have extreme draw and swarming power, more so than even the current top tier decks.
Let's start off with the card effects.
Fallen Angel Asmodeus:
This card cannot be Special Summoned from the Deck or Graveyard. Once per turn, you can send 1 Fairy-Type monster from your Deck to the Graveyard. When this card you control is destroyed and sent to the Graveyard, Special Summon 1 "Asmo Token" (Fairy-Type/DARK/Level 5/ATK 1800/DEF 1300) and 1 "Deus Token" (Fairy-Type/DARK/Level 3/ATK 1200/DEF 1200). An "Asmo Token" cannot be destroyed by card effects. A "Deus Token" cannot be destroyed by battle.
Basically, when Asmodeus is destroyed you get two tokens that are just as good and every turn you get a free Foolish Burial. But how are we going to get a Level 8 monster out to the field quickly? I'll tell you how: simply, easily and effectively. Valhalla, Hall of the Fallen lets you special summon ANY fairy monster from your hand as long as you have no monsters on the field. "So wait, if I don't have a monster on the field I get to special summon a monster with 3000 attack?" yes, yes you do. And if it didn't get better, but Hecatrice allows you to search your deck for Valhalla by simply discarding him, making it extremely easy to special summon Asmodeus and all your other Fairy monsters. Now I'm going to show you the real powerhouse of the Fallen Angels.
Fallen Angel Superbia
When this card is Special Summoned from your Graveyard, you can Special Summon 1 Fairy-Type monster from your Graveyard, except for "Darklord Superbia".
Yes... really. I'm not lying. When a 2900 attack monster is special summoned from the graveyard you can special summon another fairy. Now, not knowing what I know can make you think this is a bit lack-luster, so I'll fill you in. For one, Archlord Kristya is a fairy. So not only can you instantly special summon two monsters with 2900 and 2800 attack(don't forget that Kristya keeps the opponent from Special Summoning) but that isn't even the half of it. Now wait, this sounds great and all, but how do you special summon Superbia from the graveyard other than by using Call of the Haunted? Simple; Dark Creator. Almost all the cards in Fallen Angels are dark type, plus with Dark Grepher and Asmodeus filling the grave with Fairies there will be no problem special summoning Dark Creator. However, this is where it gets pretty interesting. If you special summon Dark Creator and then use his effect to special summon Fallen Angel Superbia, followed by special summoning Darklord Zerato you can use Darklord Zeratos effect and discard a dark monster to destroy all your opponent's monsters and then attack directly with all the monsters for game. Literally an exact 8000. Other Fallen Angel decks use things such as Light and Darkness Dragon to wear your opponent down tremendously and then special summon Superbia and Kristya when he dies. -It should be noted that in Fallen Angel variants that use Light and Darkness Dragon you need to be using at least three Mausoleum of the Emperor.-
For a draw engine the Fallen Angels have none other than Trade-In. The deck runs on average 14-16 Level 8 monsters. That's A LOT of fodder for Trade-In. Along with Allure and Reckless Greed you can quickly and effectively draw into the key pieces you need for overpowering your opponent. Hecatrice, Reinforcement of the Army, Terraforming, and Gold Sarcophagus are other cards used to thin the deck and grab you the cards you need.
Now you might be wondering, why aren't Fallen Angels tier 1? They have the insane OTK, the draw power, what's missing? Well, like Lightsworn before Charge of the Light Brigade was released, Fallen Angels lack consistency. It's very easy to draw into a hand full of monsters or spells and no way to do anything, or even use up all your draw cards and get locked into a dead hand by Reckless Greed. With this taken into consideration it really takes a toll on Fallen Angels usefulness. Without Dark Grepher you can't fill the grave fast enough for Dark Creator, without Dark Creator you can't OTK, and without Valhalla all your fairies in hand are dead. Too many key pieces that are too easily not drawn. That doesn't mean the deck still isn't extremely good, it just means it's very inconsistent and that should be taken into consideration before attempting to play the deck.
3|Fallen Angel Superbia
3|Fallen Angel Asmodeus
1|Dark Armed Dragon
3|Valhalla, Hall of the Fallen
1|Mystical Space Typhoon
1|Reinforcement of the Army
1|Allure of Darkness
1|Call of the Haunted