Bandicam is a similar software with most well known Fraps and allows to record video files while playing games. If you want to share your gaming experiences on Youtube or Facebook or to make tutorials about how to play some levels, Bandicam can do it.
It captures video from applications that runs using DirectX or OpenGL. It has hotkeys to start, pause or end a recording with keyboard combination, set overlay and FPS limit (you can display or not in your video the frame rate), record audio and/or microphone voice, add your logo to video using your image and setting desired position.
Furthermore, record or not mouse movements and highlight mouse with colors and animations to be more visible where you are clicking or where you move the mouse (good for making demos and tutorials).
Video can be saved in many formats, some presets includes Youtube popular formats (360, 480 or 720 pixels), for smartphone, for video editors such as Pinnacle, Sony Vegas etc. You can choose desired quality of video, select a video codec, set full size or custom and more.