Forex Automatic Trading Robots
FAP Turbo-Does This Forex Automatic Trading Robot Really Double Your Money Every Month?…Or is this Just More Forex Schlock?
A Special Report-You Really Need to Read This Forex Software Review Before You Even Think of Investing in FAP Turbo
Forex Robot Reviews Conducted By: TFO Research Department: Michael Patrick, Mark Boothman, David Ribble
Product: FAP Turbo
Review Date: December 22/2008
Product Type:Forex Trading Robot
Here at The Forex Opportunity we often get junk mail from someone claiming they have some new forex automatic trading robot that will make people rich overnight. You probably know exactly what we mean. Somebody else with a new “Forex Dominator”, or “Cash Machine”, or “Super Google Terminator”…or some such drivel…Yawn. You can see why we only conduct a proper forex software review if there is already some momentum to the product.
However, it is our job here to conduct forex robot reviews and fully investigate such claims…and every once in a long while somebody actually comes up with something that really works.
When we saw that Marcus Leary, a real pioneer in automatic trading (Creator of the highly successful Forex-Auto-Pilot) was endorsing this forex automatic trading robot…we had to sit up and take notice! A proper forex software review was definitely in order.
If we are going to recommend to our readers that they pull out their credit cards for a product, we want to make sure that the product is what it is billed to be.
First, before we jump into the review, here is a summary of the claims made by the creators of FAP Turbo:
THE CLAIMS
“You Need To Know ABSOLULTELY NOTHING About The Forex Market Or Forex Trading To Benefit Day In And Day Out From FAP Turbo’s Cash Producing Power…”
“FAP Turbo NOT Only Backtests To The Tune Of 5,000% Profit In 9 Years (Or 48% Per Month)…It Actually Delivers DOUBLE The Profits In Live Trading – 100% Per Month!”
Obviously, these are pretty big claims, and having been around the block more than once with Forex trading software, and conducted more than a few forex robot reviews, we were very skeptical. For a full analysis of FAP Turbo read on. We will lead you step by step through what it does well…and where it falls short.
IN DEPTH REVIEW
Ease of Installation and Use
A key benefit claimed by the people at FAP Turbo is that you need no experience in market or forex trading to make the system work for you, and that it can be up and running on your computer in minutes.
This is essentially true. FAP Turbo is technically an “expert advisor” (EA) that you attach to a currency trading chart inside the free trading platform Metatrader. If that is all greek to you, don’t worry, their included instructional videos are excellent. Can it be installed and working in a few minutes? Well…not quite. We tested the installation with a teenager who knew nothing of forex, and it was up and running in 35 minutes.
Performance
The returns on investment claimed by the promoters of FAP Turbo are nothing short of astounding. Many forex robot systems use “back tests” to support their claims of exceptional performance. Essentially, the software is run against a set of historically currency data…and the robots algorithms are “tweaked” to maximize performance. This is NOT a reliable indicator of performance in live trading.
The FAP Turbo claims are based on both back tests and live tests. We based our review on a LIVE test using a demo account. Our results were so good, that we assumed we had just hit on some ideal market conditions!
We ran a second test, and again the results confirmed the FAP Turbo claims.
One note of caution. Our tests verified the FAP Turbo claims for their “Scalper”strategy. The other strategy the software executes is the “Long Term Strategy”. By definition it will take us longer to confirm the effectiveness of FAP Turbo in this mode.
Set It and Forget It?
The people at FAP Turbo claim that the system can be set up on your computer, left to run, and that it will literally make you money while you sleep. Essentially, this is true, and is the goal of all trading robot systems.
However, it must be remembered that home computers and internet connections are notoriously unreliable. Your system could go down without notice. FAP Turbo was found to re-start automatically with no glitches.
For those who don’t want their trading interrupted at all (service outages, teenagers online…), FAP Turbo does offer a very reasonable hosted alternative. In other word, your trading system operates on their servers. An added benefit to this is that you can access it from anywhere you can get an internet connection.
Support
Although the FAP Turbo people make no rash claims as to the level of support offered, we found it to be excellent. They provide both a support number and a very active forum. A word of caution…there are a few members on the forum with unrealistic expectations who are wondering why they didn’t get rich in 7 days. Enough said.
General Comments
Quite frankly, we were blown away by how sophisticated, bug free, and professional the FAP Turbo system is and this was one of the best forex robot reviews we have conducted. For less than the cost of a good dinner out with the family, an amateur trader can now have on his/her home computer a system that professional traders could only have dreamed about a few short years ago…and reap amazing results.
THE REAL QUESTION, DID WE MAKE MONEY WITH THIS
Forex Automatic Trading Robot?
ANSWER: YES.
Perhaps the best proof is right on the FAP Turbo site. They actually have live trading accounts on the site that update in real time showing real, profitable trading activity. Take a quick look…
THE BOTTOM LINE…
Our recommendation is that you buy FAP Turbo. There is no risk in giving FAP Turbo a try. You can try it out with a free demo account, “play trade” with pretend money, and if it doesn’t perform you can take advantage of FAP Turbo’s money back guarantee.
