Remove the watermark again!
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I really hate the watermark because it gets in the way of my video and it's the only game recorder that doesn't lag you never used to have it.
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FBX allowed watermark-free recording for all users while it was still in beta (before version 3 was released). If you had an account back then, it will have automatically been updated to an Early Adopter account which will still allow you to record without the watermark if you are logged into it. Otherwise, upgrading to a Pro account is the way to get rid of it.