On Which Broker Does FAPT Perform Best?

AddictedNewbie · #1 12-04-2008, 05:35 PM

Hello All,

Has anyone tested FAPT with the same settings on different brokers and identified a better performing broker?

I was reading a post on the Forex Peace Army Forum and someone posted that they were seeing better results with Alpari - could this be because Alpari has 5 digit quotes? What confused me a bit was that this guy was getting better results on Alpari even through they are currently running high spreads to cope with market conditions.

Thanks in advance for your response.

Jack

Sooner · #2 12-04-2008, 05:47 PM

Quote:

Originally Posted by AddictedNewbie

Hello All,

Has anyone tested FAPT with the same settings on different brokers and identified a better performing broker?

I was reading a post on the Forex Peace Army Forum and someone posted that they were seeing better results with Alpari - could this be because Alpari has 5 digit quotes? What confused me a bit was that this guy was getting better results on Alpari even through they are currently running high spreads to cope with market conditions.

Thanks in advance for your response.

Jack

Considering the sales page uses IBFX and alpari I would assume that those might be some of your better performing brokers, however I demo tested on IBFX, Alpari, and ODL along with a live IBFX account and all of them are doing well. I also have a friend who is demoing it on an IBFX account and he catches some trades that I don't on the live account, could be the difference in spread too.

dcrowley06 · #3 12-04-2008, 05:53 PM

Quote:

Originally Posted by AddictedNewbie

Hello All,

Has anyone tested FAPT with the same settings on different brokers and identified a better performing broker?

I was reading a post on the Forex Peace Army Forum and someone posted that they were seeing better results with Alpari - could this be because Alpari has 5 digit quotes? What confused me a bit was that this guy was getting better results on Alpari even through they are currently running high spreads to cope with market conditions.

Thanks in advance for your response.

Jack

I ran demo accounts with FXDD, ForexMeta, Alpari, FXPro, IKON Royal all at the same time. Same exact settings with 5000 dollar demo account. Alpari on the demo actually consistently gave me better results. I was making hundreds of dollars a day in trades. The others were breaking the hundred mark but not every day. Then I read that Alpari Uk changes their spread from their demo account to their live account and raises the spread in the evening on their live account. So all that testing was thrown out the window.

ForexMeta was and affiliate of FXDD and was always one pip higher, therefore it just couldnt compete with FXDD. FXPro and FXDD were very similar for me in their results. I opened a live account with both of them. FXPro took like 3 hours from start to funding completely and I was up and running. I still have not heard back from FXDD and it has been a week. Needless to say, if it takes a week so far for them to even take my money, I wonder how long it will take to get it back from them when i want it.

So I have been scalping on FXPro. It seems to do fairly well. FXPro is a 5 digit broker and FXDD is not, but I saw similar results between the two. It seemed like the scalping hits during slow periods anyway, so the spreads are tight at FXPro when it does the scalping. Anway, FXPro only gives 0.1 lot size whereas FXDD gives 0.01 lot size trading. So if you are doing a smaller account, you might be more at risk to see your account drained because more of your money is tied up for every lot you open on FXPro, but I am happy with the results for the last few days so far.

^eagle^ · #4 12-04-2008, 06:50 PM

Quote:

Originally Posted by dcrowley06

I ran demo accounts with FXDD, ForexMeta, Alpari, FXPro, IKON Royal all at the same time. Same exact settings with 5000 dollar demo account. Alpari on the demo actually consistently gave me better results. I was making hundreds of dollars a day in trades. The others were breaking the hundred mark but not every day. Then I read that Alpari Uk changes their spread from their demo account to their live account and raises the spread in the evening on their live account. So all that testing was thrown out the window.

ForexMeta was and affiliate of FXDD and was always one pip higher, therefore it just couldnt compete with FXDD. FXPro and FXDD were very similar for me in their results. I opened a live account with both of them. FXPro took like 3 hours from start to funding completely and I was up and running. I still have not heard back from FXDD and it has been a week. Needless to say, if it takes a week so far for them to even take my money, I wonder how long it will take to get it back from them when i want it.

So I have been scalping on FXPro. It seems to do fairly well. FXPro is a 5 digit broker and FXDD is not, but I saw similar results between the two. It seemed like the scalping hits during slow periods anyway, so the spreads are tight at FXPro when it does the scalping. Anway, FXPro only gives 0.1 lot size whereas FXDD gives 0.01 lot size trading. So if you are doing a smaller account, you might be more at risk to see your account drained because more of your money is tied up for every lot you open on FXPro, but I am happy with the results for the last few days so far.

Great info. Doesn;t FX pro require a minimum deposit of 7500usd or am I thinking of another broker

Sooner · #5 12-04-2008, 07:03 PM

Looks like their initial deposit is $100 and they do offer mini accounts. $100 and a 0.1 lot size is just asking for a blowout though if you ask me.

hansje · #6 12-05-2008, 08:02 AM

well i think it can be done with 0.1 lot, scalp only, only 2 graphs (eurgbp included).
ofcourse no longterm fabturbo... that would be sick, but 100usd could be enough as I see they offer 1:500 leverage.

Same could be done with 3 scalps running (except usdcad) 0.1 lot, leverage of 1:200 with a deposit between 200 and 300usd...

oh well.... give it a demo run ;p

PS. This only works for FxPro, because I tested it positive, other brokers went not as good as FxPro...

akeem444 · #7 12-05-2008, 09:59 AM

HAs anyone traded on live accounts? Do the settings on demo work the same on live accounts?

alan · #8 12-05-2008, 10:02 PM

Quote:

Originally Posted by akeem444

HAs anyone traded on live accounts? Do the settings on demo work the same on live accounts?

Yep, of course they do. The only different that you may run into is the quality of the price feed. Many brokers "clean up" their demo feed so often when you take a system live you may notice a slight different in they way it trades/performs.

aquaart · #9 12-05-2008, 11:00 PM

To be honest with you I really do not think it really matters. To use this EA you have to pay for an ongoing subscription. Check there "Terms and Conditions". So really you are not purchasing this EA, you are paying for a loan of it (that goes for only one month). This is another way that these guys want to get multiple amounts of money out of you.

alan · #10 12-06-2008, 01:49 AM

Quote:

Originally Posted by aquaart

To be honest with you I really do not think it really matters. To use this EA you have to pay for an ongoing subscription. Check there "Terms and Conditions". So really you are not purchasing this EA, you are paying for a loan of it (that goes for only one month). This is another way that these guys want to get multiple amounts of money out of you.

Are you sure you interpreted that correctly? Can you quote the terms & conditions section that says that.

Here is something from their FAQ (members section):

"We update fapturbo every month to make sure it is always up to date to the modern market conditions. You should download the fresh version of fapturbo from the member area every month and install instead of old version. Each version is licensed for 1 month only. All updates are FREE to our members. "