BTeV is a recently approved collider program at the Fermilab Tevatron dedicated to the study of CP violation, mixing and rare decays in beauty and charm hadrons. The detector is a two-arm forward spectrometer sited at the C0 interation region. Data taking is expected to commence in 2006. The physics goals and spectrometer are described. Details are given of simulations which determin the physics reach of the experiment.