A Review of the FAP Turbo Automated Forex Trading Robot and Expert Advisor

[Jay Hawk]

FAP Turbo Review

FAP Turbo is without a doubt the most famous Forex Robot. FAP Turbo has now sold over 55,000 copies! Find out why it is so profitable here....

Without a doubt, automated forex trading software represents the latest development in sophistication for those trading forex online using their personal accounts. Although several reputable trading robot software packages are currently available, very few competitors, if any can readily compare to the popularity of FAP Turbo. FAP Turbo has now sold over 55,000 copies and works as an expert advisor within the MetaTrader 4 forex trading platform. When it comes to forex trading software, very few packages offer the versatility and technical advances written into the program offered by FAP Turbo. In addition to the completely automated trading features, an in-depth study of the software and its signals can be extremely beneficial to any trader regardless of background or experience.

According to Steve, Mike and Ulrich — the FAP Turbo development team — the trading system used by FAP Turbo was based on Marcus Leary’s Forex Auto Pilot software, and it is both fully-automated and reasonably-priced at $149. Furthermore, the software is easily available for purchase and instant download online at www.fapturbo.com. Setup is simple and thoroughly-documented in text as well as in a video tutorial. Telephone support is also available via a vendor hotline, and your money can be returned for up to two months if you are not satisfied with the software.

While other trading software packages are also automated, FAP Turbo is completely self-sufficient in the generation of technical analysis-based trade signals, well as in determining and entering into the market any take profit or stop loss orders that subsequently need to be executed. Furthermore, FAP Turbo is easy to install on a computer running a recent version of Windows in just a few minutes. Also, the fact that it runs as an expert advisor within the popular MetaTrader 4 trading and technical analysis platform means that the robot can start producing impressive results for your portfolio almost immediately. Even better, MetaTrader 4 is freeware and can be downloaded from www.metatrader4.com for easy installation.

Furthermore, the developers of the FAP Turbo system maintain that not only has the system performed well in back-testing on historical data, but that it also has shown remarkable profitability in live trading results. In practice, FAP Turbo often trades several times per day, and its vendors boast a high success rate of over 90% winning trades for the robot. Nevertheless, some customers complain that they cannot seem to replicate these results in their own trading, and they have a tendency to blame this on the parameters used with the robot. Another complaint arises from those who would like to override the system. Others might be concerned about using the robot with their unstable Internet connection, but the FAP Turbo vendors do offer a remote server service to get around this potential issue.

Despite any potential drawbacks with the robot, many inexperienced forex traders can gain a much deeper understanding of how to trade forex profitably from reading the FAP Turbo trading manuals and watching how and why the robot executes its automatic trades. By using the FAP Turbo forex trading robot software, a novice trader can gain considerable insight into how an expert trader goes in and out of the market and manages the risk on their trading portfolio. They can do so by analysing closely how the system determines its transaction points to initiate positions, how it performs position sizing, and how it calculates order levels for closing out positions. This substantial benefit alone would be like sitting next to a forex trading pro to pick up their secrets and can be worth much more than the rather reasonable entry price being asked by FAP Turbo’s vendors.

While FAP Turbo can be an excellent way for beginners to get started trading forex, this successful expert advisor software is also rapidly turning many experienced forex day traders into part-timers who now prefer to leave most of their trading up to the watchful eye of this sophisticated robot. Such seasoned traders have usually gotten over the initial thrill of trading and often appreciate the ability to sit back and let FAP Turbo take over the often-repetitive mechanics of managing their portfolio.

Basically, the decision to use the FAP Turbo forex trading software is a fairly simple one for many traders. Just consider whether you would prefer to spend your day watching a trading screen or enjoying life with your family and friends. These days, most people would prefer the latter, and it is for just those people that FAP Turbo was created. If that would work for you, you can buy it now online at www.fapturbo.com.

[baboon]

Hi Jay, interesting review.

I've tested FAP Turbo extensively (I was actually the first person to get a copy when it was released!).

It is very satisfying to sit there and watch it make winning trades. The problem I saw is that it uses a very poor risk reward ratio - not as bad as the original Forex Auto Pilot (that was doing something stupid like risking 200 pips for 10!) but still not great.

I was involved in a small group of traders that shared settings and tips and tricks for getting the most out of the robot. But we had all stopped using after a few months as we just didn't trust it.

I think that for generating "beer money" on a small account, FAP Turbo is probably harmless enough. But I certainly won't be putting it anywhere near my main live account...

Finally, I think this EA, like many others, needs an ECN/STP broker with very low spreads to be really effective and avoid extended draw down periods.

Simon.

[chris]

Jay, your review reads like a sales page. Since Mark has been mentioning you in his emails, I expected a little (well, actually a lot) more.

I've been appreciating Marc's reviews since they seem honest and real, not just some re-hashed sales talk. If I want that, I can enter "Fapturbo" into Google and read one of the many "review" sales pages that come up.

It would be great if you could keep to Marc's way of doing things.

Thanks,
Chris

[1954baby]

I have just put Fapturbo back on demo as it was just about breaking even. I have started to use a website called www.fapturboexpertguide.com by a guy called Rob Casey, so we will see how his settings work in the coming months.

I will keep you posted tonight is the first night. Although I normally shut my robots down on big news days I am going o let it run for all of Feb and March with a 10K account'

Peter Nightingale (1954baby)

[capsmart]

I purchased Fapturbo two months ago, installed it without any problems then the first trade lost from my account 30% (demo of course). I let it run for some more days but the profits were far smaller than the losses. Then I decided to get a refund. I had to send 20 emails and call twice to find out that support is not reacting. Whenever I asked for help in my emails I got a reply within a day. Whenever I was asking for a refund, no answer.
Finally I used a clickbank option for the refund and got my money back.
As soon as I registered with them I started receiving emails from various sites offering me "better" settings.
So to me Fapturbo is just a very advertised product that does not deliver what is promises.

[joche]

Fapturbo works better if you choose the reverse mode function. For example if Fapturbo wants to buy using reverse mode you sell. Low Draw down and could quickly hit your 5 pip profit. I am using it on live but with very small lot. Overall I still dont trust the robot. Better still to do manual trading

[raa]

I purchased Fapturbo two months ago, installed it without any problems then the first trade lost from my account 30% (demo of course). I let it run for some more days but the profits were far smaller than the losses. Then I decided to get a refund. I had to send 20 emails and call twice to find out that support is not reacting. Whenever I asked for help in my emails I got a reply within a day. Whenever I was asking for a refund, no answer.
Finally I used a clickbank option for the refund and got my money back.
As soon as I registered with them I started receiving emails from various sites offering me "better" settings.
So to me Fapturbo is just a very advertised product that does not deliver what is promises.

Vassilis, I believe that due to the commercial model all those marketers use, they simply cannot refund you directly if you ask their support, as you are paying to the vendor, Clickbank in this case, and this is the only place you should ask for a refund from. Marketers never even had your card details or any means to place a transactions. Thanks god.

[rcgusa]

Has anybody from the group got this EA and testing it?

[Simon]

Hi Rcgusa,

Yes, I still have a copy of FAPTurbo, but I abandoned testing ages ago as I didn't like the Risk:Reward ratio.

However, I can stick a copy on my VPS and we can start a testing thread if anyone is interested.

Simon.

[zion]

I refunded my copy yesterday. I was testing out last week. Results were not that great. (lost 8% of capital from a demo account) I rather learn the art of trading, rather let a robot do a trade.