In this post I will be reviewing the Fap Turbo 3 robot. Following hot on the heels from Fap Turbo 1 & 2, this is a fully automated forex robot for the free to download MetaTrader 4 trading platform. If you do not already have the MT4 platform, you can download it free of charge from most forex brokers. Fap Turbo 3 is offered as a monthly subscription at a very reasonable cost or for free when you sign up under one of the developers recommend brokers using them as the introducing broker. It is easy to setup and comes with a self-installer so you can be up and running in just a few minutes – even if you are a beginner there is no prior trading experience required. However, there are a lot of concerns that I have with the Fap Turbo robot which I will be covering in this Fap Turbo review.
Fap Turbo 3 Strategy
The Fap Turbo brand has been around for many years now, going all the way back to when forex robots were first commercially available. The Fap Turbo 3 forex robot follows on from the its predecessors by trading in any market condition whilst also being “self-updating” to adapt to the ever-changing forex market conditions. Despite this, the robot does require the ideal market and broker conditions to perform to the maximum of its capabilities.
This forex robot trades on an impressive 8 currency pairs and even the world’s most successful cryptocurrency, Bitcoin. You can choose to trade all or a select few currency pairs. The major currency pairs will usually have better spreads and execution due to the high amount of volume and liquidity they have. This is very important for the Fap Turbo EA when you consider that it trades primarily around market hours of low volatility which means that spreads can be higher than usual. From my experience, I found that the Fap Turbo robot is just way too broker sensitive and there are not many brokers who have suitable trading conditions for it.
The Fap Turbo expert advisor (EA) will analyse charts for potential trading signals based on the built-in algorithm. When it finds a signal, it can place and manage trades on behalf of the user. You can check back at any time to see how things have been progressing and intervene if required. If you prefer to maintain control over your trading, you could always set the Fap Turbo forex robot to semi-automated mode in which instance it will send you an alert when there is a trading signal and you can decide if you would like to take the trade or wait until the next signal comes along.
The settings can be customised to the user preferences or you can simply use it with the default settings that have already been optimised by the developer. Just make sure you check the lot/risk size to make sure it is suitable for your risk preferences. I actually like to verify all of the developer’s settings by running my own back tests and to find my own optimised settings for the currency pairs and timeframes that I like to trade.
I would personally run forex robots with an ECN forex broker as I find that they tend to have some of tightest spreads, lowest commissions and reliable execution speeds. When it comes to automated trading, IC Markets are one of my top choices of broker. This is because they have tight spreads and lots of liquidity which means that you can get your trades executed at some of the best available prices at all times.
Fap Turbo 3 Back Testing
There are some back tests shown on the Fap Turbo 3 website for potential users to refer to. The modelling quality is only 90% which means real tick data, spreads and commission were not used. I much prefer 99% modelling quality such as that done by Birts Tick Data Suite that uses tick data, real spreads and commission such as that done by Forex Robotron. With this back-testing methodology, results are much more accurate. I must say that I am very disappointed that despite being around for over 10 years and making bold claims about how good Fap Turbo is, the developers have not even shared top quality back tests. This is something that I would expect as a minimum when looking around for a suitable forex robot, along with verified real results. I have included a screenshot of the Fap Turbo EURUSD backtest below, but you must take these results with a pinch of salt. When you consider this is more of a forex scalping robot, they should have used tick data, variable spreads and commissions for back testing.
Fap Turbo 3 Live Results
If the lack of Fap Turbo backtests was a let-down, the fact they have still not shared a real live verified account that shows the Fap Turbo results is even more disappointing. Without any backtests or real results, we have nothing to determine how well the Fap Turbo 3 robot has been performing in recent markets conditions. These are things that I would expect to find from any developer selling an automated forex system such as Fap Turbo. You have to ask yourself why has the develop not shared these things. My gut instinct would be because the results do not live up to expectations, but you can be the judge of that. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Fap Turbo 3 Summary
Overall, despite being one of the first forex robots on the market along with Forex Megadroid, it has similar disadvantages. Fap Turbo 3 has so much potential but is let down by a distinct lack of backtests and verified results. I also feel like the Fap Turbo EA is very broker dependant as it requires tight spreads, low commission fees and minimal slippage to reach its potential. This can lead to user frustration and a significant difference in results depending on the broker you are using.
Fap Turbo 3 is a very diverse multi-currency forex robot for MetaTrader 4 that includes detailed instructions, Bitcoin robot, Bitcoin indicator and dedicated 24/7 support. Not only that but if you are unhappy with how it performs then you have a 60 day no questions asked money back guarantee. You could even run it for a while on demo and thus have a risk-free trial of the Fap Turbo 3 robot. That being said, I think there are much better options out there which do a lot more, including backing up their claims with verified accounts.
Fap Turbo 3
$39.95
Pros
- Multiple Trading Instruments
- Customisable Settings
- Unlimited Licenses
- 60 Day Money Back Guarantee
- Full Support
- Lifetime Updates
- Fully Automated Trading System
- Detailed Instructions
Cons
- MetaTrader 4 platform only
- No Verified Results
- Limited Backtests
- Broker Dependant
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
