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Registered on September 29, 2008
FAP Turbo Overview:
The FAP Turbo is a software designed to analyze the Forex market with the goal of placing and closing trades automatically 24 hours per day. This kind of software is what is known as an expert advisor and it plugs in to a MT4 platform to enable what is called “auto-trading” thus allowing you to make money on autopilot.
FAP Turbo was a sensation when it was released back in 2008, and a lot of it had to do with the launch process which was propelled by a great number of marketers and Forex traders alike.
However, one thing that made this expert advisor stand out from the rest was the fact that for the first time in history, live trading results of real money accounts being traded with the robot were made available to the public.
Prior to the launch of the FAP Turbo, all of the expert advisors offered what is called a “backtest”, which is nothing more than an analysis of what the software’s performance would have been had it been trading over past years.
Usually, these backtests showed amazing results, but when the time came to put the trading robot to work in a live trading account the outcome tended to be totally different, which made it obvious for many that backtesting was not enough to “prove” the effectiveness of an expert advisor.
FAP Turbo broke the mold with regards to the “proof of performance” and you could say they set a new standard in the industry, because they came out with live trading results (that to this day are still updated every 15 minutes) instead of simple backtests.
Another thing that has made this trading tool stand apart from its competitors, was the vision of its owners to make it a collective and ongoing effort, and that is why they created the FAP Turbo members forum which is said to have over 50,000 active members continuously sharing and exchanging experiences and tips about the robot.
Also, since 2008 the FAP Turbo has been updated 5 times, so if you purchase this expert advisor now you would get the v.50, a sign that the owners of this product remain committed to maintaining and improving the service they provide and the FAP Turbo will likely stick around for while.
FAP Turbo Reputation:
The FAP Turbo’s reputation has been mostly mixed, particularly after 6 months or so after its launch back in 2008, and the reason for it is that the software was said to have performed amazingly for most traders during the first 3-6 months, which initially sparked an avalanche of positive comments, however, afterward you would start finding more and more comments stating that the FAP Turbo was not being consistent or profitable.
Some would attribute this to the settings, others to the broker and others simply would say that the robot just did not work.
It is a fact that the broker is always a factor even if you are trading manually so it is possible this might affect the software’s performance. On the other hand, many people claim some little tweaks in the settings can result in a major improvement for the FAP Turbo’s performance and stability.
As of now, you will not find a unanimously positive or negative opinion about this trading tool, however, positive comments seem to be found in greater numbers in specialized forums and discussion boards, and you will even find true fans of this expert advisor which claim to be doing pretty well using it.
The fact remains that the developers of this trading tool continue to back their product and they have not gone anywhere, as they keep updating and improving the FAP Turbo for their costumers, which adds a really positive note to the overall reputation of this expert advisor.
Also, after more than a year in the market FAP Turbo is still the best selling Forex software, well ahead of any competitor and even newly launched products.
FAP Turbo Guarantees:
This product is backed by a 60 day money back guarantee which you can count on easily enforcing in case you are not satisfied with the product. This is a reasonable period for you to download and test the robot in your trading platform for a 2 month period without any risk, as the process of requesting a refund is pretty straight forward and simple (usually takes 1-2 days for your money to be back in your account).
FAP Turbo Support:
This has been an issue with the FAP Turbo from the beginning, and it has not improved much lately, although the response time has decreased considerably since the launch phase. However, what can somewhat compensate for this is the fact that the FAP Turbo installation and set up is very well explained through a user manual and video tutorials, so it is actually easy to understand every aspect of the set up process.
Also, the FAP Turbo members forum can provide you with many of the answers you seek regarding installation problems, settings, tweaks and just about anything related to the FAP Turbo’s functionality.
(4 ratings)
I have tried several EAs with little success. These software always seem to perform well for a while and as long as you use a demo account, but once you go to real money they suddenly go crazy.
I have read many times that this has a lot do with the broker, but certainly there is too much useless products out there regardless.
Now, as for the FAP Turbo, I can say this is the only robot I am currently using, but in order for it to be profitable I had to do some tweaks in the settings and yes, it is fair to say that the latest update has been a change for the better.
I particularly use the scalper which is usually the most profitable strategy and I try to keep it within the EUR/USD, although it would seem that the update has improved the EA performance in the other currency pairs. I have yet to test this thoroughly.
I like FAP Turbo and I think that up to this date there still isn’t a better EA.