Very Well Trader is a Forex EA that claims to outperform the market using proven strategies and makes consistent profits on a monthly basis without suffering any losses. Now, these are some very tall claims to make in today’s competitive market where Forex robot scams are making traders lose their money all the time. Thus, a proper assessment needs to be carried out, where we shall assess things like trading strategy, live results, pricing, and customer reviews to gauge the system’s reliability.
How Very Well Trader EA Works
On the official website of Very Well Trader, the vendor has clearly explained how the Forex EA functions, presented live trading results, while also outlining the pricing plans. There is also a contact form where you can enter your name and email address to get in touch with the service team. A large part of the website, however, is written in marketing language, which we don’t really approve of.
There is no information available about the company behind Very Well Trader. So, we do not know who the traders and the developers are, or where they are located. We also have no way of finding out whether any other Forex EAs have been launched by this company in the past.
In order to use this system, you first need to download the software. It is easy to install and the entire process can be completed in 5 minutes or so. This Forex EA trades mainly in the EUR/USD pair for the 5-minute timeframe, but you can also use it with other pairs like USD/JPY, AUD/USD, and GBP/USD. It works with 4 and 5 digit brokers and has a proactive support team that can solve all your issues.
This Forex EA also has a stealth feature, which means other brokers won’t be able to see your stop losses or take profits.
To prevent users from losing money, Very Well Trader employs an advanced capital management system. Entries and exits are calculated with precision and lot sizes are selected after considering the size of the accounts.
You have the option of reinvesting your capital with this Forex EA. The profits are maintained by keeping the stop losses tight and trades are entered only when the market conditions are favorable. In this regard, the vendor does not provide any details about how the market is analyzed or what indicators are used for analysis purposes.
We think the information on the trading strategy is not adequate and that the vendor should provide more details about this aspect. By studying the trading strategy, we can assess whether a system can generate profits or not, so this is indeed very important.
Very Well Trader Trading Results
Here we have the live trading results for Very Well Trader on an FXBlue account. We can see the account was opened in May 2020, and to date, it has a closed profit of $16,178.45. It has 120 days of trading history and currently the daily, weekly, and monthly gains stand at 2.18%, 11.39%, and 57.30%, respectively.
Other interesting figures to note about this trading account are the high win percentage of 78.8% and the risk/reward ratio of 0.75. Currently, the average win and average loss for this account are $57.82 and $44.45 respectively. From the trading results, Very Well Trader looks like a reliable system capable of generating profits.
Pricing & Refund
Very Well Trader has three pricing plans called Standard, Most Popular, and Private. To purchase these plans, you need to pay $149, $249, and $299, respectively, and the features offered with them include free updates, lifetime access, and 24*7 support. They give you access to 1, 2, and 4 real and demo accounts respectively.
The vendor offers a 30-day money-back guarantee on this product, so if you are not happy with the software’s performance after testing it, you can always ask for a refund.
There are no customer reviews for Very Well Trader on third-party websites like Forexpeacearmy and Trustpilot. Clearly, not many Forex traders are using this system for placing their trades and the vendor does not have much of a reputation as of now. The lack of vendor transparency and strategy insight might be the reasons why most people don’t rely on this Forex EA.