The FAPS system is a combination of software and a blueprint-style trading itinerary designed to remove the guesswork, emotion and “human error” factor in forex trading. It can allegedly recognize trends in real-time, using a money-management system to turn profits even in unfavorable market conditions.
Their site claims that FAPS runs on, as the name implies, “autopilot”. More specifically, as per their demonstration video of Forex Autopilot in action shows, FAPS works hand in hand with MetaTrader 4 as an expert advisor (EA) scripting tool for dictating trades. The documentation included with FAPS lays out exactly how to configure the advisory script to perform optimally for your style of trading, different currency pairs and so on.
The FAPS website claims that its system has a 96% success rate (winning trades) according to history backtests taken from live trading results between 1999-2008. The site encourages traders to verify this for themselves.
The Forex Autopilot System also comes with:
- A Non-Farm Payroll “Robot” Addon (automates high-risk trading based on government-issued releases – see a full explanation approximately 3/4 of the way to the bottom of their site)
- “Ultra-Trend Robot” (a proprietary analysis tool that detects the strength of a given trend, along with support & resistance levels; can be used with Fibanocci levels and Elliot waves)
- A $50 USD Bonus Deposit towards your first deposit
So aside from having a bit more functionality and a truly automated forex trading system (“set and forget”), FAPS basically makes the same claims as its numerous competitors.
Let’s see how the results measure up to the hype…
What It Actually Does:
As you’ve lilkely already determined from our excellent ratings for FAPS – we’ve found this trading system to be a consistently profitable EA script, with history backtests that are just as solid as its current trading performance…
Likewise, as per our “UBO meter” rating, the general consensus all over the internet on forums, blogs and other social-media sites with actual consumer opinions is that FAPS works consistently – and for a wide variety of forex traders, as well. The company offers personal support for its users, and their success is quite dependant on your success in terms of continuing their reputation via word-of-mouth in a market where word travels far and fast.
We’d even found a few instances in which satisfied consumers had actually copied transcripts of email conversations with Marcus (developer of FAPS) into forum threads to prove to skeptical forum members that the FAPS trading system was both a legitimate EA script, supported by a legitimate company.
The FAPS EA script works, it works consistently, and it’s user-friendly package (complete with a “do this, do that” style of documentation) truly makes it easy to use even for relatively novice traders. We wouldn’t go as far to say that trained monkeys could use it to turn a profit, but your “average” trader will be able to see from just a few demo-account sessions that FAPS is worth its weight in gold.