Assuring stable profits without any loss, Very Well Trader invites traders of all levels to use its winning FX advisor. Claiming to provide a monthly profit of over 35%, this FX EA uses proven Forex approaches in trading that help it to consistently generate high returns. While the developer explains how the advisor works, there is no information on the company, its foundation, location, and phone contact. An online contact form is the only customer support this FX robot provides.
Very Well Trader EA Review
With the abundance of FX EAs in the market, it is difficult to identify the best trading tools. Our reviews on the best robots/indicators/signals help traders to choose from the best ATS in the market. This review attempts to provide in-depth info on the Very Well Trader robot. As per the developer, this FX robot helps generate appreciable returns with its consistent performance that has gained the trust of users for more than 15 years.
What is behind the Very Well Trader EA?
Using this FX EA is easy and simple for a newbie trader or an advanced one. This is because it is fully automated software that can be easily installed. After choosing from the three different packages available you need to download the EA, install it, and start trading.
The installation takes under 5 minutes. With the responsive support team, you can have the EA installed and running effectively. Due to the full automation, there is no need to make changes or optimize the software before using it.
Four main currency pairs are focused on by this EA and they include the USDJPY, EURUSD, AUDUSD, AND GBPUSD pairs. The 5 -minute timeframe is used by this FX robot. Broker stealth features and adaptation to 4 or 5-digit brokers are other important features found in this MT4 trading tool. The developer does not provide recommendations on the minimum deposit or the leverage that can be used for trading.
While the developer does not specifically mention the strategy used, there is mention of it being a safe and profitable approach. Two main systems are used for the trading approach namely capital management and calculated trade entries and exits.
The trade settings are made in such a way that the lot sizes remain proportionate to the size of the account. Brokers will not be able to see the TP and SL points and users get to choose reinvestment of capital. The EA also uses an advanced SL method with tight stops and wave present insides a small frame to enable higher returns. Regardless of the market scenario, this ATS will be able to adapt and close on a position when conditions are not conducive. While the explanation seems to be elaborate, it still is a bit vague and is not sufficient enough for assessing the efficacy.
For purchasing this FX advisor, you have the option to choose from the three packages available namely Standard, Most Popular, and the Private packages. The standard (It is spelled as ‘Standart’ on the site which we assume is an error) package costs $149 and gives access to one real and one demo account. The Most Popular costs $249 and the Private package costs $299.
The main difference between the two is the number of real and demo account licenses you receive. Other features like lifetime access, free updates, and 24/7 support are common to all the packages. A 30-day money-back guarantee is provided with the packages. While the standard package looks affordable, the other two packages are a bit on the expensive side when compared to competitor prices.
Trading Performance of Very Well Trader
A real live account verified by the FXBlue site is provided by the vendor. Here is a screenshot of the account statement and trading stats.
From the statement, we could see that the total returns for the account started in November 2020 up to May 2021 is 672%. The monthly and weekly returns are 35.3% and 7.5% respectively. A high- profit factor value of 13.22 is present with the pips gained for the history of 198 days being 429.3. The risk to reward ratio is 0.66. For a net deposit amount of $3000, the balance is $ 23,160. While the profit factor, deposits, returns, and risk to reward ratio point to a decent performance, there is no info on the drawdown. Since the drawdown is a very important part of trading, the absence raises a red flag.
The only means of contacting the vendor is through the online contact form posted on the site. Reliable MT4 tools always have multiple support options like phone contact, live chat, messaging via social media, and more. The fact that this vendor does not provide any makes us suspicious of the authenticity of the ATS.
We could not find user reviews for this FX EA on reputed third-party sites like Forexpeacearmy, Trustpilot, etc. Feedback from users remains a key criterion in assessing the effectiveness of an ATS. You can find crucial information like how the EA is performing, the responsiveness of the support, and other factors. The absence of reviews indicates the FX robot is not a popular one.
Very Well Trader Summary: Worth it or not?