Today Alpari UK launched their flexible spread service. This was advertised as follows:

As of Wednesday 19th August 2009 07:00 GMT (09:00 MT4), minimum spreads across ALL currency pairs and precious metals on all accounts are tightened. Flexible spread minimums will be reduced on average by 25% and up to 60% for some currency pairs compared with current fixed spreads.

With the introduction of additional price feeds, clients will be able to access significantly tighter spreads as we pass on the benefit of the tighter spreads available to us from the Interbank market.

Flexible spreads will also bring a greater degree of price-transparency to clients’ trades along with institutional-level pricing and lower transactional costs.

Although I have noticed low spreads on other pairs, the USD/CAD spreads were sometimes 12!. They were ranging from 6.7 to 12! No way Fap Turbo would trade with such spreads. In fact I had an open trade and once I realised what was happening I closed the trade straight away, of course with a loss.

I think we need to say goodbye to this pair. The only remaining currency is EUR/CHF which again last week and this week was a disaster.

So the end of Fap Turbo is near on this broker, and also probably elsewhere.

Hi

I have just setup my server and a demo account on Alpari US since that’s the broker I will be using for now. I will give it a run for a week and if the results are the same as my previous testing I will go live. Yes sorry I am being a bit coutious.

I have setup Fap Turbo a bit late so I guess no trades will be done for tonight.

I will only be trading EurGbp and EurChf pairs of course in scalping mode since those are the only pairs that were successful. I will not trade Long Term trades for sure. I will also go for quite conservative settings, that is less risky.

So keep tuned, since now the fun begins! Hopefully by tomorrow I will have something to report.

Hi Guys

I have not vanished, I am still here. What’s happening with Fap Turbo?

Well this morning, I noticed that the demo account closed, so practically the challenge is finished. I don’t know exactly how and by whom it was closed, but I don’t care anyway. I read somewhere that some accounts are being moved to another server, and some others said that demo accounts occasionally are deleted. Hope this is not done with real accounts. :)

Anyway, I will write a post summarising what has happened during this challenge by tomorrow.
However after so many thinking I decided to go live with Fap Turbo and waste / invest $1000. Please make sure that when you trade, trade money that you don’t need. You may not see this money again

For now I will waste / invest $1000, since I am a bit worried on live spreads, but if I gain confidence I will increase the deposit.

After some research the broker selected will be Alpari US and it will take me some time to transfer my money there. But in the mean time we will start trading in demo tomorrow.

I am also learning Forex and soon I will be posting some of my knowledge gained during this adventure.
Anyway keep visiting the blog, since now the fun begins