Fanatec ClubSport Formula V2 Review

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The Fanatec Formula V2 racing wheel gives you more buttons, dials and encoders than a Space X rocket. But is this premium formula style wheel rim worth the cost. We have purchased and thoroughly tested to find out if this rim is worth a buy in this ultimate review!

Fanatec Formula V2 Review

Our Verdict

9.2 / 10

Product Design




Value For Money


Xbox One, Xbox Series X, PC


  • Fantastic form factor & ergonomics
  • Unprecedented amount of buttons
  • Surprisingly improved our lap times
  • Feels great in the hand
  • Lively force feedback


  • Can’t use most functions on Xbox
  • Slightly expensive

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The Formula V2 wheel design

When you first open the box to reveal the Formula V2 wheel, there isn’t much of a reveal. Instead, the wheel is surrounded by packing foam and is encased in a Fanatec bag. Only once you open the bag up do you see this racing wheel in all its glory.

And boy, is it a mean-looking piece of hardware. From the sleek and sexy carbon fibre body to the Alcantara hand grips, this wheel oozes quality. I never thought I’d call a steering wheel sexy… But it is.

Despite being constructed of carbon fibre, this formula-style racing wheel still carries a little extra weight. This doesn’t affect the overall feel of the wheel, which feels great in your hand. But our first thought was that it might put a little extra strain on your wheel base, as it has to use more power to move the wheel.

If you haven’t used a Fanatec formula wheel before, this steering wheel will feel small in your hand. That is a good thing when it comes to driving formula cars, as it allows for quick movements and direction changes.

Fanatec Formula V2 Steering Wheel

But the absolute main thing I like about the design of the Formula V2 are the elements that Fanatec has carried over from the old Formula Carbon.

The shape and layout of the old Formula Carbon were so spot-on perfect that Fanatec didn’t need to change them. And they didn’t. Yay, Fanatec!

On track performance

It’s time to step out on track and take this Formula V2 steering wheel for a spin. We have used this steering wheel for quite some time and tested it on numerous games across both Xbox and PC platforms.

The main games we have played are F1 2019 on console and iRacing and Assetto Corsa Competizione on PC, with a little sprinkling of Automobilista for good measure.

When jumping from a more traditional round or GT-style wheel rim to this Formula V2 wheel. The force feedback feels surprisingly electric. The overall sensation of force feedback that comes through the wheel feels like it has been turned up to 11.

This is in part due to the small size of the wheel. Its size allows it to feel sharp, and by having your hands closer together, you feel more connected to the car. Everything feels very direct with this wheel rim.

Fanatec Formula V2 LEDs

Due to the energy of this steering wheel, you start to feel a lot more detail in the force feedback itself. This added detail allows you to feel the road a little more than with other wheels. This is handy if learning a track, or simply throughout a race.

When racing the Formula V2 on PC the rev lights work. (Spoiler. They don’t work on Xbox, we cover this further in our review) They are blindingly bright. This is both a good and bad thing.

You will be able to see when to shift in your peripheral vision, even if you are looking up from the wheel. However, if you dare to look at the wheel, you will almost certainly be blinded. The rev lights are bright. You have been warned.

Wheel customization

One of the main selling points of this steering wheel is all of the rotary switches, thumb encoders and buttons. These give you multiple ways of adjusting your car on the fly, and they impact your gameplay a lot.

On PC, you can program the thumb encoders to adjust elements such as fuel mix and ERS usage. This solves the need to go into the multi-function display when playing games such as F1 2019.

You can spend much more time concentrating on the track ahead rather than flicking through multiple menus to increase your fuel mix.

It sounds like a small change to the way you race, but the effect is huge. Before the Formula V2, I almost always lost time in every race by navigating the menus to change engine mode. That lost time is a thing of the past.

Steering Wheel Toggle Switches

With a simple flick of the thumb, without having to take a hand off the wheel. You can change your car’s behaviour on the fly.

As with all Fanatec steering wheels, you can adjust all of the force feedback wheel settings directly from the wheel. You do this by using the sticks on the front of the wheel to scroll through each force feedback setting and program each individually.

Once you have created a complete force feedback setting setup, you can save it to the wheel itself as a preset. You can save up to five of these presets at once. This lets you quickly switch up your force feedback depending on which car or game you’re driving.

Console compatibility

Fanatec has finally come through and pleased Xbox gamers.

Up until the launch of this ClubSport Formula V2, Fanatec showed zero love to Xbox gamers and Formula 1 fans. Not a single version of Fanatec’s Formula range of wheels was compatible with Xbox consoles.

We don’t know why this was the case, but it was more than likely due to Xbox One’s restrictive architecture in terms of additional inputs. But that problem is a thing of the past.

This Formula V2 steering wheel is completely compatible with Xbox One and Xbox Series X consoles—sort of. However, there is a huge caveat.

Because of Xbox’s restrictive architecture, most of the additional inputs on this steering wheel can’t be used! That is right. Only native Xbox inputs can be used, meaning only twelve inputs can be programmed simultaneously.

Unfortunately, these inputs are limited to physical buttons only. That means none of the rotary dials or thumb encoders work on Xbox. Neither do the lovely LED rev lights and flag lights.

Formula V2 Xbox Series X Compatibility

That is a lot of the overall functionality of this wheel not being supported. But despite this, the core elements of the wheel work, and boy do they work well.

One nice touch that Fanatec has included is mapping the two red toggles on the face of the wheel rim to the throttle and brake. Any Xbox sim racer will know that you must use the LT and RT buttons to travel through certain menus.

All sim racing wheels, these are mapped to the accelerator and brake pedals. This means that with most wheels, you have to push the throttle and brake to move left and right through some menus. Not ideal.

But by Fanatec mapping the red toggles to the throttle and brake, you can use these to move through menus. This is a nice comfort to have and a nice touch by Fanatec.

Will the Fanatec Formula V2 make you quicker?

Typically, a change in steering wheel rim won’t make much difference in your speed on track. Most wheel rims handle largely the same, as in essence, it is the wheel base that affects performance more than a wheel rim.

However, certain wheel designs, sizes, and weights impact how much you have to turn the wheel and how you feel the force feedback.

Fanatec Funky Switches

As mentioned above, jumping into a play session with the Fanatec Formula V2 brought out an immediacy in everything we were feeling. It felt like the car was more alive, and we felt more connected to it as a whole.

This was especially prevalent in Assetto Corsa Competizione. That extra level of connection with the car did improve our lap times. We weren’t expecting this at all, but in fact, we certainly gained a few tenths on most of our games.

So, surprisingly. Yes. The Fanatec Formula V2 does make you a faster driver. I did not expect to be saying that going into this review!

Is the Fanatec Formula V2 worth it?

The cost of the Fanatec Formula V2 sits up at over $369. In the grand scheme of things, that is a relatively large amount to spend on a wheel rim alone. However, this is a Fanatec product, meaning it is in the upper echelon of sim racing gear.

When compared to other Fanatec wheels, this ClubSport Formula V2 is well-priced. Some wheel rims from Fanatec stretch upwards of $600!

But let’s forget the Fanatec comparisons. Is this steering wheel worth the price for a sim racer?

Quick Release System

If you are solely an Xbox sim racer, it is a tricky one to call. Yes, this is the only formula-style wheel rim available for Xbox and Fanatec owners. But almost all of the glorious functionality isn’t compatible with Xbox.

It is disappointing that Fanatec and Xbox can’t get this wheel working to 100% of its potential. Despite this, we would say it is worth the investment for console owners and PC owners alike.

This wheel rim offers further levels of immersion when racing open wheel cars. Much more so than any round wheel can offer. Plus, the improvement in lap time and force feedback output make this a superb racing wheel.

What’s included in the box

  • ClubSport Steering Wheel Formula V2
  • Racing-Style Button Caps
  • Quick Guide
  • Safety pin for long storage
  • Safety screw for permanent mount on wheel base

Frequently Asked Questions

How does the Formula V2 compare to the Formula Carbon?

The Fanatec Formula V2 is the new and improved formula wheel by Fanatec. It replaces the Formula Carbon, and adds features such as; new rotary dials, improved screen, new thumb encoders and more buttons and LEDs.

Is the Fanatec Formula V2 compatible with Xbox, PS4 and PS5?

The Fanatec Formula V2 is compatible with all three consoles, Xbox, PS4 and PC. It is confirmed to be compatible with the new Xbox Series X.

Is the Formula V2 better than the F1 Esports steering wheel?

The Fanatec Formula V2 has much more functionality than the F1 Esports wheel rim. There are extra buttons, and dials which aren’t on the F1 Esports wheel rim. This makes the Formula V2 a much better wheel rim.

Technical Specifications

  • Platform – PC, PS4 Ready, XBox One
  • Quick release – ClubSport, Exchangeable
  • Display – 1″ 128×64 OLED
  • Rev lights – Yes
  • Grip material – Alcantara®
  • Construction Material – ABS, Carbon, Metal
  • Weight – 1245g
  • Diameter – 270mm

Review written by Felix König

About Felix König

Felix König is a professional Esports sim racer from Seattle, WA, and is the founder and editor of Sim Race Reviews. In addition to over 10 years of professional sim racing and competing in both iRacing and Assetto Corsa Competizione competitions, Felix has been sharing his sim racing knowledge and expertise with other sim racers. His passion lies in sim racing, and in particular in the plethora of sim racing hardware from racing wheels to pedals and more.