As a recording software I DON'T recommend Fraps. It makes a 5 minute video into a 3 GB shit. It also makes your game lag a lot, if you don't have a powerful machine.
As a recording software I recommend Bandicam. It has tons of ways to adjust almost everything - from quality to video or audio codex. The video's size isn't big too (apart from Fraps)
FRAPS- video size is large because it's in AVI Format, after converting its size reduces to 100-150 MB (1080p), also video quality of Fraps is better than bandicam, even if you set bandicam's setting to record it with 100% quality or HD w/e. I am saying this because I have tested both recorders and for me Fraps is better.
On the other side (Lag), when I record video with Fraps, FPS doesn't drop it remains 30, but with bandicam when I rotate the mouse sometime FPS drops to 28-29. So for me Fraps is better in everything and I recommend to use Fraps.
Most of you guys like bandicam because it has many options to adjust, but still Fraps is better (atleast for me).