The most advanced, automatic, and successful FOREX trading software available today.
Have you become interested in foreign currency trading with its proven potential to make substantial profits? And have you heard about all the FOREX trading tools out there claiming to be the best?
Then listen up.
We've looked at five of the really good FOREX robots and come up with the clear winner.
FAP Turbo has taken the proven workhorse of EA's, Forex AutoPilot, and enhanced it with powerful new features.
Check out the full review here, and compare it to the other top FOREX trading systems. Or you can go directly to their official website and see for yourself everything it can do.
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Forex Funnel Review
from ForexFunnel.com
Overview
Forex Funnel is another automated Forex trading system that uses a completely different tactic. It uses a much more high risk/high reward approach to trading, a variant of a famous gambling strategy called the Martingale principle. The basic concept of the Martingale strategy is to double up after a losing trade and continue doing this until eventually a winning trade is found, which will cover the losses of all previous losing trades. This strategy has a near 100% success rate, but you need a LOT of capital to cater for long losing streaks, because one losing streak can effectively wipe out your account with a margin call. This specific system is dedicated to work with the USD/JPY (US Dollars and Japanese Yen) pair.Price: $137 one-time fee.
Pros
- Fully automated with minimal tinkering with settings.
- Claimed no experience of Forex trading required.
- System is dedicated to work with a single pair of currencies, claiming that targeting multiple pairs is more taxing on the system and causes less accurate results. Despite this claim, you can run it profitably on other pairs.
- Offers a demo account which is used to trade "play money" to test the system for real profits.
- 60 day money back guarantee.
- Is a Metatrader 4 Expert Adviser (MT4 EA).
- Uses a high risk, high reward trading strategy that has the potential to produce high returns, but....
Cons
- ...runs the risk of losing entire account on one trade if you don’t have enough capital to work with.
- Refunds must go through Clickbank. Seeking it directly from Forex Funnel not available.
- The EA itself is highly streamlined with very few features that are settable by the user.
- All the support provided is done anonymously. Because so little is known about the author of the system, not much info is available on how much experience they have.
- Email based support. If you send emails to the support line, answers are given, but they are usually very brief.
- Compared to other systems, the documentation is subpar. It does not tell you anything about the system, how it works, what kinds of market conditions it is suited to, etc.
- Does not come with a support forum or online community. There are no courses or mentoring for this system either.
- The minimum account size you can use for mini accounts is $2500. Anything less and you will also see wild swings in your equity curve.
TESTIMONIALS
"Guess what… From a profit of +$57.93, Forex Funnel has successfully managed to drive my demo account all the way down to a loss of -$299.92. Need I say more?"
From fxrobots.wordpress.com
I've used it for a month or so now and the forex funnel software has produced some good results."
"Forex funnel sucks. I had a really hard time using it so I went over to the other guys automated forex program."
From yahoo answers
"Forex Funnel is good if you have a big account because there is a lot of drawdown."
Portion of actual user review on ForexFactory.com
"I have been testing Forex Funnel and consistently made profits."
Portion of actual user review on ForexForum.net
I tried it for a couple of months, but it was like one week I made 200 pips, the other week, I'd lose 150 pips. Overall, I made money, but a little too rocky for my taste."
Portion of actual user review on FXFisherman.com
“...pleased with Forex Funnel and I actually like it better than Tracer because it has tighter stop/losses.”
Comment from forexfun.net
SUMMARY
Forex Funnel definitely defines itself from other Forex robots with its main tactic being the use of the Martingale gambling strategy. If you can ride out the storm of a long stretch of consecutive losing trades and you have enough money in your broker account to cover these losses, then theoretically you can never lose money. The chances of a losing streak (or a winning streak) going on forever is nil, so this is an intriguing formula. A fair idea for the user might be to employ a second robot along side Forex Funnel and see which one works best under the same market conditions. Then you could weight your use to the one that is working better in that particular climate. Few of the robots cost more than $150, so owning two of them is not prohibitively expensive. The negative comments by users sort of indicates that not enough capital was on hand to cover the losses.
The downfall of this product clearly seems to be the customer service, which is hugely important. Nothing is more irritating than unresponsive "support centers." And once again the lofty claims that no experience or knowledge of Forex trading is needed is simply not true. Lastly, like all the other websites of these EA's, Forex Funnel's is full of HYPE. It's obnoxious and demeaning to the viewer. The facts should sell the product, not the superficial glitz.
Bottom line, Forex Funnel can be appealing to inexperenced Forex traders because it offers very little customization of the settings. You also must accept the Martingale gambling principle and have lots of cash in your account.
What do you think now? Go for FAP Turbo?
Have you used this product?
If so please leave a comment below.
