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January 2010 Update: Read my latest Fap Turbo Review here.

I receive many questions regarding Fap Turbo and because many people have the same questions I decided to put together this FAQ to which I can refer visitors with questions. Please note that there is an FAQ at the bottom of the Fap Turbo Homepage that already contains answers to many of the common questions customers have, so remember to visit them if you can’t find an answer here. This page will be a work in progress and continuously added to as I receive new questions.

1. What should my Fap Turbo settings be ?

Fap Turbo has many settings and new users are often unsure about the best settings to use for their accounts. The Fap Turbo support team suggests the following settings for the best results:

• Don’t run the long term strategy on small accounts (less than $10,000)
• Run the short term strategy only on EURGBP and EURCHF
• Enable auto lot management for the scalper (Scalper_UseMM = true )
• Set the percentage risk to be 20 for EURGBP and 10 for EURCHF (using Scalper_LotRiskReductor)

The only other setting that should be changed is the GMT Offset, all other settings can be left on the defaults.

2. What should my GMT Offset setting be for the scalper ?

It is important to understand that the GMT setting has nothing to do with the country you live in.. it is all about the timezone that your broker uses. The timezone where I live is GMT +2, but this has no relevance to the GMT setting of the scalper. My broker (Interbank FX) uses the GMT timezone, so my GMT Offset setting will be 0, NOT 2. The easiest way to determine your broker time is to look at the time displayed in the Market Watch window of your Metatrader client:

Market Watch

Many people who don’t live in the US or UK wonder if Fap Turbo will work in their country. The answer to this is simple – yes it will. Forex trading is a global industry and most Forex brokers are global companies that support customers from all over the world. No matter which country you live in, you can open an account and start trading within days through most of the popular brokers. Live accounts normally work in US Dollars and can be funded using credit card or wire transfers.

4. What are the tax implications if I have a Forex trading account in another country?

Usually you will only pay tax in the country you reside in, so if you live in the UK and have a Forex account in the US, then you will pay tax on your profits in the UK just like you do with any other local income you have. The only complication is that your profits will probably have to be converted to your local currency for tax purposes. Please note that I am not a tax expert, so please confirm this answer with a consultant from your own country.

5. What are the best Forex brokers to use for Fap Turbo and will it work with broker x ?

Fap Turbo can be used with any broker that uses the Metatrader 4 trading platform. Some of the most common Metatrader 4 brokers are: InterbankFX, Alpari, FXDD, FXCM, Forexmeta. If there are any doubts, then the support desk of your broker will be able to confirm if they use Metatrader 4 or not.

6. Why do the results on the Fap Turbo Homepage look different from my own results ?

The settings used for the live accounts on the Fap Turbo Homepage are changed frequently to test new versions, so it is never a good idea to compare these accounts with your own. These accounts also use lot settings that are too risky for the average trader, so lot sizes will be much bigger than what you are likely to use in your own account. Another thing to keep in mind is that Fap Turbo will never perform exactly the same trades for all it’s users..even accounts with the same broker will differ slightly from each other due to a variety of factors.

January 2010 Update: Read my latest Fap Turbo Scam review here.

January 2010 Update: Read my latest Fap Turbo Review here.

For those that are considering buying Fap Turbo.. in a newsletter that was sent to their subscribers this morning they mentioned the following:

• FAPTURBO POSSIBLE PRICE INCREASE TO 399 USD
  We are totally overworked and we are thinking about increasing the pricing of Fapturbo to 399 usd.. just to limit the purchases.. please understand we do not want to close anybody out from this opportunity but the price increase to 149 usd did not help .. as people realize how good the robot works once the settings are in place word of mouth drove even more to our site..

I dont know if they are serious about this or not, but I can imagine that this has turned into a support nightmare for them, so keep this possible increase in mind if you are thinking of buying in the near future. Check the latest price here.

Fap Turbo is up and running in my live account and I am happy with the results so far..it’s been rather quiet the last day or so, but it has made some profitable trades and my account has grown with $88, so there is nothing to complain about. I will make a more detailed post about the live account and the settings I’ve used over the weekend. Below is a screenshot of some of the trades that the scalper has performed in the live account so far (with personal information removed).

Click to Enlarge

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January 2010 Update: Read my latest Fap Turbo Scam review here.

January 2010 Update: Read my latest Fap Turbo Review here.

It has been 2 weeks since I installed Fap Turbo and even though I expected good results, I have to admit that I am blown away by what this robot has achieved so far. In fact, I have decided to stop trading in a demo account and switch over to my newly opened live account today. I will post more details about this once everything is up and running. In the meantime, here is a detailed report of the performance of Fap Turbo over the past 2 weeks.

My $5000 demo account has almost doubled to $9466 over the 2 week test period. A net profit of +1818 pips were achieved, consisting of +1468 pips from the long term strategy and +350 pips from the short term strategy. At first glance the long term strategy of Fap Turbo seems a lot more profitable, but it is important to note that the short term strategy is incredibly safe and has a very high success rate, so it’s a much more conservative strategy. The long term strategy of Fap Turbo has bigger profits, but also bigger drawdowns and ultimately presents more risk. Both strategies have a success rate of roughly 92% so far and there has only been 7 losing trades out of a total of 91.

January 2010 Update: Read my latest Fap Turbo Scam review here.

January 2010 Update: Read my latest Fap Turbo Review here.

There’s been some requests for testing results, so I decided to post the results for week 1 a bit early and then maybe post an update after the end of the week. I installed Fap Turbo on a $5000 demo account on 25 October 2008 and let it trade using the default settings. I enabled auto lot management, but apart from that all other settings were left on the defaults.

Over the past 5 trading days the Fap Turbo robot has made a number of profitable trades using both the short term and long term strategies and the account has grown to $6940. The detailed statement for this account can be seen below. As you can see, there is 1 big losing trade of $598 at 2008.12.01 00:00. This trade was closed as a result of the setting that specifies that all losing trades should be closed at month end. This setting can be disabled, but I’m not sure if this is a good idea yet.

As of yesterday, the long term strategy shows a status of “NO Trade Today”, which means that according to the internal indicators, the market is not safe to trading. This is a good example of how Fap Turbo is different from the original Forex Autopilot.

I have decided to take my testing of Fap Turbo to the next level by opening a live account with InterbankFX. This will take a few days to process, but if all goes well I will be live trading with this system early next week. More detail on this later.

January 2010 Update: Read my latest Fap Turbo Scam review here.