Despite the application of the Additive Manufacturing process and the ability of parts’ construction directly from a 3D model, particular attention should be taken into account to improve their mechanical characteristics. In this paper, we present the effect of individual process variables and the strain-rate sensitivity of Onyx (Nylon mixed with chopped carbon fiber) manufactured by Fused Filament Fabrication (FFF), using both experimental and simulation manners. The main objective of this paper is to present the effect of the selected printing parameters (print speed and platform temperature) and the sensitivity of the 3D-printed specimen to the strain rate during tensile behavior. A strong variation of tensile behavior for each set of conditions has been observed during the quasi-static tensile test. The variation of 40 °C in the platform temperature results in a 10% and 11% increase in Young’s modulus and tensile strength, and 8% decrease in the failure strain, respectively. The variation of 20 mm·s−1 in print speed results in a 14% increase in the tensile strength and 11% decrease in the failure strain. The individual effect of process variables is inevitable and affects the mechanical behavior of the 3D-printed composite, as observed from the SEM micrographs (ductile to brittle fracture). The best condition according to their tensile behavior was chosen to investigate the strain rate sensitivity of the printed specimens both experimentally and using Finite Element (FE) simulations. As observed, the strain rate clearly affects the failure mechanism and the predicted behavior using the FE simulation. Increase in the elongation speed from 1 mm·min−1 to 100 mm·min−1, results in a considerable increase in Young’s modulus. SEM micrographs demonstrated that although the mechanical behavior of the material varied by increasing the strain rate, the failure mechanism altered from ductile to brittle failure.