If you've had any dealings in the Forex market over the last year, you have undoubtedly heard about "that Fap Turbo scam" that's going on.
Many people will try to have you believe that there is a scam in progress and they're trying to take your money.
Regardless of what people say and try to tell you, Fap Turbo is hardly a scam.
In fact, it is one of the most profitable expert advisors that has ever been made available to the public.
Why do some people feel that it is a scam? Let's look in detail at this alleged Fap Turbo scam.
The first thing that you need to know about FapTurbo is that it is a scalping EA predominately.
It scalps four different currency pairs.
Over the last few months, the most popular two pairs are EUR/CHF and EUR/GBP.
They have been the most popular because they are the most consistent pairs.
Many traders stuck to only trading these two pairs after a lot of testing showed what they were capable of.
Those that didn't have a clue what they were doing, just stuck Fap Turbo on their account and let it trade whatever it wanted.
They put it on all four currency pairs and the long-term pair with only a little bit of capital to play with.
The pairs that were volatile at the time ended up hitting the stoploss a few times and therefore, these risky traders lost most, if not all of their investment.
Therefore, it has to be a scam right? This is the same logic that says that its the gun's fault if you blow your hand off.
A gun can be a great tool to bring you an abundance of food if you know how to use it.
If you don't use it properly it can blow your hand off.
If you use FT correctly, it can bring you in a very handsome reward.
If you have no idea what you're doing and just let it go, you can blow out your account.
Another reason that people believed there was a scam afoot is because it was a victim of its own success.
There were so many people using Fap Turbo to make money that brokers started putting the brakes on.
These brokers would increase spreads, time trades out, or flat out ban it from being used.
While there are still a handful of good brokers that accept it, many of them will end up taking your money.
This is not the programs fault, but the unscrupulous broker.
Many brokers have such high spreads now that FT will not even see a trade during its allotted time.
Overall, Fap Turbo is a fantastic Forex robot that has become a victim of its own success.
It has spawned a new generation of copycat EA's that attempt to do the same thing..
There is no scam, but only a good, honest product.
The support team is great and responsive.
They have a forum available to answer any question and they continually update the EA according to market conditions.