Hi everyone. I’ve got an update for those of you who have been following my FAP Turbo performance testing story. I finally gave up on InterbankFX as a viable broker to use FapTurbo on. The spreads during the time FapTurbo traders are so often ridiculously high that my account balance pretty much goes nowhere. I’ve ran FapTurbo on a demo $5000 IBFX account since December of last year and all I’ve got to show is a profit of $2844 – not all that impressive. And you want to know the reason for such crappy performance. Here it is:
2009.11.11 17:11:04 Fapturbo47 EURGBPm,M15: Current spread = 0.00100, MaxSpread = 0.00050
2009.11.11 17:04:01 Fapturbo47 EURCHFm,M15: Current spread = 0.00080, MaxSpread = 0.00050
2009.11.11 17:04:01 Fapturbo47 EURCHFm,M15: Trade signal is missed due to invalid high spread.
My MT4 “Expert” tab is filled with such messages. I’ve had it! I’ve decided to ditch IBFX and go for an ECN broker with super low spreads. The broker I chose to go with is called MB Trading and since they recently started offering the MetaTrader 4 platform I figured it would be a good alternative.
I’ve heard that ATC brokers is another good broker to use, but they have a pretty high (for me at least) minmum opening account balance compared to MB Trading. Thus if I wanted to trade FapTurbo with live money I’d more than likely go for MB Trading, hence my decision to demo test FapTurbo with them.
However I still have in mind to demo test FapTurbo on ATC Brokers as well. The reason being that even with MB Trading I get “spread too high” errors, so this way at least I’ll find out which is the better broker to use with FapTurbo.
What really ticks me off about MB Trading is that FapTurbo misses a trade by such a narrow spread.
2009.11.11 16:59:24 FapTurbo49 GBPCHF,M15: Current spread = 0.00065, MaxSpread = 0.00060
*For your info V49 is the latest FapTurbo version – see this post for details*
It’s almost as if they somehow knew I was running FapTurbo and deliberately raise the spread by that tiny amount to prevent it from trading. Hmm, I dunno, maybe that’s just my paranoia talking.
Ok, well that does it for my rant. If you want to share your FapTurbo trading experience/settings or just want to rant on just like me, I invite you to join me at the Forex Autopilot Forum:
See you there!