FAP Turbo Update

Posted by admin on Jan 9th, 2009 | 2 comments home title

Well, the Christmas and the New Year Break are just about over. Over that period, the forex market has been renowned to be very quite and a little unpredictable. This period has been the same. The guys from fapturbo recommended that their users turn off the auto trader and wait for the christmas and new year break to pass.

High Spreads.

Many people reported instances of extrmemly high spreads on the currency pairs. This could have been due to a number of reasons. Low liquidity so brokers widen their spreads to limit scalping methods. However, this is pure guesswork and could have been due to other reasons unknown.

Brokers Not Playing the Game

Recently, news was released that some brokers were closing down accounts of their clients that were using the fapturbo. Unfortunately, there is nothing retail clients can do to combat some actions buy some less than honourable brokers. Currently, the guys at fapturbo are in negotiations with some ECN brokers.

What is an ECN broker?

hey are a broker that places their clients trades directly into the market place. They generally consolidate quotes with banks and show their clients the best bid and offer prices available. Their spreads can be a little tighter but you generally have to pay commissions. When trades are passed through them, they go straight to the interbank, so the there is usually another party take the other side of your trade. Leverage is usually lower and the minimum balance they require is higher. The Interbank trades are usually full lots or $100,000, so you need to take into account $7-$10 per pip into your trading methodology.

The retail broker entices their customers with the ability to open accounts with lower balances and give them very large leverage. Also, they give clients free access to demo accounts to trade the platform and provide mini and micro lots. They generally tend to be the market maker so they are taking the other side of their clients trade.

So, if the fapturbo guys can secure their clients the trades through an ECN, there will be no worries about unsavoury actions with retail brokers.

FAPTurbo.com.au Account Updates

Very soon, we will be having video updates with how the autotrader is progressing week to week. This will allow anyone wondering whether they should buy the autotrader and idea whether unbiased accounts are profitable.

If you would like to know more about FAPTurbo, click the more info button below.