Very Well Trader is a Forex EA that promises a steady stream of profit every month while successfully avoiding losses. It claims that several traders have already gained from the system and there are real results to back up this fact. The official website is presented mostly in marketing language, where the Forex EA has been introduced as the solution to your trading problems.
Some details are provided on how the robot places its trades and a link to an FXBlue account is given, where you can check real-time results. Apart from this, there are pricing details, steps to install the software, a contact form using which you can get in touch with the vendor. That being said, we have little or no idea regarding who the developers are behind Very Well Trader and no information is available about the physical address either.
Features
Very Well Trader promises to let you enter the coveted circle of successful Forex traders, where you can earn pips without fearing about losing your funds. It is suitable for trading in pairs like USD/JPY, AUD/USD, GBP/USD, and EUR/USD in the 5-minute timeframe. Very Well Trader is a 100% automated system that automates gains with a profitable and safe strategy.
In order to manage your capital efficiently, the Forex EA chooses calculated and specific entry and exit points while choosing lots corresponding to the size of your account. Other brokers are not able to see your take profits and stop losses and can also reinvest your capital if you wish.
Trades are placed only if all the market conditions are favorable, and if they abate, the trades are closed quickly to avoid incurring losses. This is an adaptable system that closes positions if there is no hope of making gains.
How to Start Trading With Very Well Trader
Very Well Trader offers three distinct pricing plans called Standard, Most Popular, and Private at $149, $249, and $299, respectively. By purchasing these plans, you get access to 1, 2, and 4 demo and real accounts. With all of them, you get access to free updates and 24/7 customer support.
The system can be easily installed by a layman and you can seek help regarding the process by emailing the vendor. After downloading the Forex EA, you just need to wait for one minute for it to finish installing, after which you can start placing trades using it.
The system can adapt to 5 or 4 digit brokers, and you don’t need to make any changes to the settings prior to trading with this robot. It comes with a 30-day money-back guarantee, so you can always get a refund in case you are not satisfied with the system’s performance.
Backtests
We don’t have the backtesting result of Very Well Trader, so we cannot possibly know anything about the historical performance of the Forex EA. The absence of backtesting results comes as a disappointment because we don’t yet have any idea about the performance of the robot. We hope the vendor decides to include this in the future in order to provide a clear picture of how Very Well Trader performs.
Verified Trading Results of Very Well Trader
Here we have a live trading account on FXBlue for Very Well Trader with a trading history of 113 days. During this time, it has managed to generate a closed profit of $15,590. The daily, weekly, and monthly returns are 2.28%, 11.92%, and 60.46%, respectively, while the total return is 519.67%.
Other interesting figures included the high trade win percentage of 70.9% and the profit factor of 3.19. Most Forex EAs have profit factors lying between 1 and 2, so this tells us that Very Well Trader uses a highly efficient strategy for extracting profits.
Customer Reviews
Although Very Well Trader has a profile on the Forex Peace Army website, we couldn’t find any user reviews there or on any other websites. It tells us that this Forex EA doesn’t have much of a reputation, so not many people are using it as of now. The lack of vendor transparency may be one of the reasons why people are wary of investing in this system.
Is Very Well Trader a Viable Option?
Advantages
- Live trading results shared by the vendor
- Money-back guarantee is provided
Disadvantages
- No backtesting data is provided
- Lack of customer reviews
Conclusion
We have come to the conclusion that Very Well Trader is not a scam service that is out there only for your money. But, that being said, it is not the perfect system that will make you rich overnight. While the live trading results are more than decent, there is a lack of transparency from the vendor that bothers us, so we would suggest you to wait until you see some customer reviews confirming the fact that this Forex EA is trustworthy.
