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Expert Advisors Reviews

FapTurbo2 Expert Advisor: The Famous Bot Trades Bitcoins Now

On December 10, 2013, a major event happened for fans of automated Forex trading and of a very popular expert advisor – the FapTurbo EA: FapTurbo2 came to life and it trades (wow!) bitcoins. 
 
Those who have been around for some time must have at least heard that name: FapTurbo1 had a gazillion of versions and modifications and some actually worked well (for example, the 54 version) but only for a limited period of time. You can check the live accounts for FapTurbo1 on Myfxbook here. Unfortunately, for FapTurbo2 we should count only on the data presented on the official website by the vendors which is not very trustworthy. 
 
 

Mixed Strategy

 
Alike its predecessor, FapTurbo trades a raft of currency pairs (mainly popular ones like the EUR/USD and some crosses) but it also trades bitcoins. Trading with all instruments is active: from 10 to 20 trades weekly, with the rate higher for traditional currencies and lower for the cryptocurrency.
 
With FapTurbo1 things were relatively simple in terms of defining the strategy: the essence of trading was scalping during the Asian session with all of the pros and cons stemming from this method. With FapTurbo2 we can also see a sort of a scalping method, although the trading is not limited within the Asian session and is combined with some traditional trend-following.
 
The EA opens a position in tune with what it estimates to be a trend and then closes in accordance with a preset take profit/stop loss levels. Once the first position is closed (regardless of the outcome), another is opened in the same direction until the robot “decides” a trend is exhausted. Here is an example from the multiple currency account:
 
 
With the bitcoins, the positions are kept open for a longer period of time – nearly twice as long as the conventional currency positions. 
 
 
 

Performance: Stunning Profits and Low Drawdown

 
OK, the data on the official website is rather impressive. We see that thanks to the EA a deposit of $10,000 resulted in a profit of $436,000 after four years of trading – that's for the multiple currency account. You can see the balance chart below:
 
 
By the way, the drawdown is also at stunningly low levels, as a backtest shows: for a period of 12 years, FapTurbo2 traded with the EUR/CHF pair in such a way that the relative drawdown remained at meager 2% ($419). 
 
Then, there is the impressive balance chart for bitcoin trading too:
 
 
After trading with bitcoins since the start of 2013, the robot generated a profit of $15,852 on top of an initial deposit of $10,000.
 
Apparently, the robot is doing great in terms of profitability and low risk of losses – however, we don't have any precise data in pips, so we cannot assess the robustness of the system. That said, we also don't have any verified data on Myfxbook, which is a major disadvantage.
 
 

Bitcoin Brokers

 
My skepticism about the functions of this robot stem to a great extent from the peculiarities of bitcoin as a cryptocurrency and the small choice of brokers that offer bitcoin trading on MT4 (after all that's an expert advisor and it's supposed to work on this platform). The developers of FapTurbo2 recommend Estonia's Tallinex and Belize's Myfxchoice - with the robot pre-installed on the Metatrader 4 platform with these Forex brokers. Our list of Forex brokers offering bitcoin trading also includes AvaTrade and Plus500, but I cannot be sure whether the FapTurbo will work properly with these ones.
 
 

Pricing

 
Currently, you can purchase Fapturbo 2.0 for $149 from the designated website but the vendor offers all the marketing hype about the price probably rising soon. On the brighter side, you get two licenses for use the robot on two live accounts with the recommended brokers. There is also a bonus – a bitcoin signal indicator. And let's not forget about the 60-days money-back guarantee.
 
 

Verdict: The Re-Cracker 

 
There is a nice movie called “Where the Wild Things Are”. A boy gets into an island inhabited by giant monsters who try to eat him. To save his life, the kid makes up a story that he can blow up heads thanks to a cracker. But when the monsters doubt that the cracker works, the boy claims that the he also has a re-cracker, which always works. 
FapTurbo2 may be just like the re-cracker – it's just another version of a robot with dubious qualities. The fact that it's second does not make it any more successful, it's just a part of the same fairytale about magical capabilities. 
TAGS: fapturbo  fapturbo expert advisor  fapturbo 2  fapturbo2 review  bitcoin  automated forex trading  forex trading  ea  ea review  forex robot  scalping  trends  profits 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

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