FXTradingReviews Forex BlogReal Reviews of Forex Trading Systems

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.