FAP Turbo has received a lot of attention in the last few weeks. Discarding ungrounded spiteful "scam" accusations as well as overly-optimistic and questionable "testimonials" this review will dissect the robot and impartially analyze its real features and how it works.
While some of the info about FAP Turbo that can be found on the net may be pure hype, there are definitely things that make this robot stand out from the rest of the crowd and place it light years ahead of the competition. Let's see if these are enough to offset its disadvantages?
What makes FAP Turbo Different From All The Other Forex Trading Robots?
Released on Nov 25th, 2008, the FAP Turbo System, which we review here, is the newest automated forex trading software and the only one that shows its LIVE trading results on the product web page! The robot has already been working for several months and trading live accounts and has tripled several of them in size over the last few months.
Despite occasional scam accusations from skeptics and nay-sayers, the robot has been trading non-stop since Sept 2008 (two months before its official release date), updating the 3 live accounts opened for that purpose. Everyone has access to the results, which you can review for yourself at the
FAP Turbo home page, and these are indeed a great success.
The FapTurbo developers have created an impressive proof page that shows 3 live, real money accounts(!) which are being traded by the robot as you read this page. Both accounts have more than tripled in size! The statements are updated every 15 minutes, so visitors will be able to reload the proof page and see the robot trading up the accounts - LIVE! This alone should be enough to put an end to all accusations of potential scam.
Another thing that is very reassuring is that Fap-Turbo shows a log of backtesting results since 1999 - that's over NINE years of testing! And in this timeframe it has not had a single loosing month! This is VERY reassuring, because while most Forex trading systems display some sort of back-tests to prove their profitability, most of them don't bother displaying more than 2-3 months of back-testing results, some may go as far back as one year at most. Now, everyone will agree that a 9-year successful track record proves this is a very solid system that works and is capable of top-performance in every market!
To summarize, FAP Turbo is:
- The only trading robot that shows LIVE results on REAL money accounts in REAL time! Check out the web site to see the results updated every 15 minutes.
- The only Forex robot in existence that is able to consistently double deposits every few months, which is shown on back-tests dating as far back as 1999 and in live tests (since 2008)!
- Over this NINE year testing period the software showed over 95% winners and an extremely low drawdown (0.35%)!
FAP Turbo Features
1. A Standard MT4 EA. FAP Turbo is an "expert adviser", in other words a plugin for the MetaTrader 4 (MT4) forex trading platform. As such it will only work with brokers who support MetaTrader 4. The good news is - the MT4 platform is free to download and most brokers do offer it to their clients.
2. Always Trades with SL and TP. FAP Turbo immediately sets the Take Profit and Stop Loss orders on the trades it opens.
This may be something obvious to all seasoned Forex traders, that using a broker-side Stop-Loss and Take-Profit orders is mandatory. Unfortunately there are quite a few automated systems out there that don't follow this rule, relying on "internal", or "algorithmic" stop-loss and take-profit levels. Generally speaking this is a BAD idea.
Why? Because if your connection with the broker's servers is lost your account is left unprotected, since the robot is running on your own computer, not the broker's computer! As soon as the connection is terminated (e.g. power outage or a computer failure) there's no way for the robot to look after the orders it opened. This will never be an issue with FAP Turbo, as it uses broker-side stops. Your account is protected at all times.
Wait a minute... Why would any developer design a trading system with such an obvious omission (not setting SL and TP)?
That's a good question - the trading systems are developed by skilled professionals who know what they are doing and using these internal stops is no accident. By not setting these levels on the broker's side they remain hidden from the broker which protects the client from dishonest brokerages which hunt their clients' stops.
Not all systems do that - for example FX Tracer (http://www.fx-tracer.com) always trades with stop loss and take profit levels but some others don't. So in deciding whether to use internal or broker-side stops the developers simply choose the lesser of two evils and those systems which trade with internal stops apparently consider the broker to be the bigger evil.
Now let us take a look at FAP Turbo's special "stealth mode" to see how this system solved this problem by utilizing the "best of both worlds", i.e. using broker-side stops and yet hiding the true SL and TP levels from the broker!
3. FAP Turbo's special Stealth Mode. The software has a special "stealth mode", where the orders are closed before the take profit or stop loss levels are reached. The idea is that the software displays "fake" take profit and stop loss values to the broker, thus protecting the trader from potential foul play on the broker's end. The robot will close the trades according to the real inner take profit and stop loss levels, which are lower than the ones being shown. And in the unlikely case of losing connection with the broker (e.g. due to power failure, computer failure, broken internet connection) - the "fake" levels still remain in place and will collect your profits or protect you from excessive losses.
4. A full 60-day money back guarantee. Don't like it? Return it. No questions asked. FAP Turbo is fully refundable within 2 months of the purchase!
In a pre-launch interview, the software developer Steve Carletti, who is one of the brains behind the FAPTurbo system explained that "[Fab Turbo is] a fast and hard hitting FX robot that cuts the profits out of the market like a sharpened knife cutting through warm butter, taking the profits consistently, in very small steps".
In case you have not had a chance yet to take a look at the results page on the FAP Turbo website, here are last weeks results of the robot on the small $370 starting balance account:
+$45.51, +$27.64, +$22.71, +$27.65, +$17.60,
+$15.05, +$45.34, -$15.12, +$15.20, +$17.74,
+$30.95, +$22.81, +$54.06, +$12.65, +$15.15,
-$10.09, +$53.93, +$24.92, +$73.55, +$24.91,
+$12.47, +$85.86, +$36.82, +$20.79, +$16.67,
+$16.66, +$49.27, +$20.83, +$12.32
= $790.88 Total!
Net profit for last week (live trading!): $790.88 from a $370 starting account.
FAP Turbo Limitations and Imperfections
Let's be fair and see what are the not so great things about FAP Turbo, the stuff that the web-page is not going to tell you...
1. It is "expensive". Compared to most other Forex tools offered, which are priced around and below the $100 mark Fap-Turbo is $150. Now fifty bicks is not really a big difference, especially considering what this little robot can do for you in just a few days trading, but nevertheless I thought it's a good idea mentioning this - there may be some folks who will decided that this difference they can not afford.
2. This is a serious tool and even though you could just rely on the default parameters and drop the robot into the charts and it will still pull in a profit, it is very advisable to read the PDF manual and try and understand what all the parameters are for and utilize them in the most efficient possible manner (This of course will depend on whether you are using the Scalping mode or the Long Term trading mode).
3. To protect their program from hacking the developers issue new updates every month or so and traders must install them and activate the robot (enter the security key) each time this happens. No biggie but is kind of annoying...
4. Hmm... can't think of anything else, really...
FAP Turbo Review - Summary
FAP Turbo is a very new system, and there will probably be glitches which the developers will have to patch up but in my opinion all of the above features add up to an incredible system:
- an unbroken trading record since 1999.
- live results displayed on web-page for everyone to see.
- Stealth Mode + SL and TP levels protects client's account from both, connection problems and possible broker foul play
- the 60-day money back guarantee effectively turns your purchase into a risk-free trial!
To be honest I can not think of any other system out there that could measure up to FAP Turbo. The Stealth mode alone is pure brilliance. There may be a better system out there but I don't know it.
My advice is - take advantage of the 60-day guarantee, download it and try it on a demo account and see what it can do. What have you got to lose?
Click here to read more about the system and download it from the FAP Turbo developer's home page.
