Everex Elite Forex Robot, or Everex Elite is a trading robot that was launched in 2014 by a company called Everex Financial Solutions, Ltd. The company employs a few developers who are claiming to be good at Forex trading, and are passionate about creating automated systems for fellow traders.
Everex Elite boasts a system with “complex mathematical logics and functions”. Apparently, this system is supposed to be innovative and is able to adapt to the changes with market conditions.
Their assurance seems too good to be true, assuring traders that their forex robot is not affected by negative circumstances, and that it is 100% automatic. It’s like saying that you don’t have to think hard on the settings for it to be successful. Let’s see how that works as I go on with this review.
Purchase the Everex Elite Forex Robot only from their Official Website. There are way too many counterfeit sites, so make sure you use the secure link above.
The bot software and subscription (lifetime) costs $300 USD and comes with a money-back guarantee.
Read the reviews below. Write a review to share your personal experience. Note: please use proper grammar and spelling to maintain The Trader Group website quality.
Don’t trust their money back guarantee
I bought this product because it is being recommended by a lot of websites, even on Youtube. I am new to Forex trading and thought that maybe a good trading robot just costs this much. I paid $349, by the way, and regretted it the next day.
The company promised a 60-day money back guarantee but I did not get anything back. Even PayPal couldn’t do something to get me back the money I paid them.
The guys that own the software kept encouraging me to tweak the settings and change brokers, but when I go live, I just lose everything.
Doesn’t work anymore!
This EA is the worst I have ever seen! Past trades may show that it is a successful EA, but not anymore. The trades it make are very illogical that I wouldn’t recommend this to anyone. I lost a lot from buying this and being unable to get a refund to actually using the live demo using my real money.
Demo is not as successful as Live Account
It has been asked a lot of times why Everex only shows results coming from a demo account. I was doubting this robot at first, but they provide good communication online and on the phone. So far, their support looked good, so I went and purchased it at $349 (the original price before they decided to lower the price because of the buzz going around in the forums).
For a long time, the company did not respond to questions as to why they only show demo accounts. But one day they started claiming that they have created a platform where they would trade on a live account. Their results were astounding, but don’t get fooled. It seems like that special platform is still on a demo account. I still lost a lot of money for trading with them and I would be ashamed to even talk about it.
I don’t know if this robot is useless or just scam. I tried it with the demo and live but their results have a huge difference whether I use it on TickMill or RoboForex.
I can’t believe I lost so much money after using the real money account seeing that my demo is providing decent results. I called their customer support and told me to run another demo using Contabo VPS. The result I got was even worse!
This robot is a waste of money and time!
Not worth it
$299 is a lot for an unreliable Forex trading robot. Also, it seems to be working well on the first few months, but would make you lose all that money before you break-even. I should’ve followed my guts when I noticed that they are only posting successful trades on a demo account and claimed that they are live results. Such a big mistake!
Everex Elite rated 1.3/5 based on 23 reviews.
Purchasing the Product
I purchased this software on their website, everexfx.com. On the “Purchase Page”, I saw that the robot is on sale, and I was able to get it at $299 (original price is apparently at $349). However, going back to that page a few months later, the “limited time offer” tag is still on.
Good thing, this forex trading system provides a lifetime access to its features and additional future updates for a one-time fee. This means I won’t have to pay an additional amount for upgraded versions.
Everex also offers various payment methods that include PayPal, Credit Card and Wire Transfer. Buying the software was hassle-free. However, I soon realized that the company does not offer refunds for PayPal purchases. I guess they are very confident with their product.
“No refund offered on what is a relatively expensive EA.”
Just the purchasing experience gave me doubts about this product. First, they are offering this EA on a limited time discounted price that doesn’t end. Second, they mentioned on their Terms and Conditions that PayPal does not offer refund on digital purchases.
I did a research and a PayPal employee said that PayPal does not offer buyer-seller protection on digital products. However, she also said and I quote that “If this seller is issuing you a refund I don’t see why the PayPal account would be stopped or limited”. This means that product refunds for digital goods depend on the seller.
Because of this, I recommend that you use your credit card to pay for your purchase as you can get a chargeback from your credit card company in case you find that this product does not suit you.
My Initial Experience with Everex Elite
I first tried using the demo version to see how the system works. I tried using a variety of settings and when I figured out how the system works, I went ahead and traded on the live version.
With the live account, I made sure that I won’t lose too much so I used Trailing Stops with small targets. At first, I had a low SL at 07 pips. I also had a 1.7 TP which is rather low.
Everex Elite only trades for 30 seconds, and in that short span of time, I was able to modify my settings, including their StopLoss system as the market changes.
Choosing a Broker
When I got the guts to run this EA on a live version, I chose Armada Markets as my broker. This is also the broker that I’ve tried on the demo account and it gave me good results so I was confident that I’ll be winning trades with it in live.
This broker gave me positive results for the GBP/USD markets but kept losing with the EUR/USD markets. The first day, I gained a total of $133.94 for the winning trades but overall, I lost $52.74 because of all the losses I had.
Everex support advised me to change brokers to either RoboForex or FinFX. I did just that and did a split test for both brokers. The following day, I saw huge changes, and luckily they are good. RoboForex gave me most profit at $236.03 in just one day.
What I Got by Trading with Everex Elite for a Year
I have already used various brokers (including TickMill – one of the best brokers they say) and settings to figure out how to maximize my profit, but so far, I only had 7 consecutive wins with this EA, and I made it through more than 10 consecutive losses.
In total, I spent about $8,000 for trading and lost a total of $5,000. Not a good result if you ask me.
I wouldn’t label Everex Elite as a “scam” software because it was able to win some trades. I can say, though, that it is not a good forex trading robot because of the losses I had. I had a few good profits the first three months, but the months after that just gave me pure headache.
More recent user reviews were posted higher up.
Doesn’t work on real account
Funny how this company claims to have a 100% fully automated system with no brain needed. Their marketing strategy includes convincing people that you can bank a huge amount of money just by leaving this software trading for you.
In reality, buying this software is like playing Russian Roulette - you need lots and lots of luck and knowledge with the market and broker. It’s reasonable that this only works good on a few brokers but in the long run, that broker that made you money yesterday will be the same one who will scrape off your bank today.
Don’t trust an EA that only shows demo results
This EA shows very impressive results, but on a demo version. I wouldn’t risk spending my $299 for a company that claims they trade live on their own platform when it’s obvious that these screenshots all came from a demo account.
Also, they did not give me a refund just because I used PayPal to buy their product. For all I know, they can just simply send me back the amount I paid them so I wouldn’t have to open a case. Worse, PayPal couldn’t do anything about it!
Software made for selling not for helping traders
It’s not always good to say that one EA is a scam just because it doesn’t trade well. But Everex stopped updating since 2014, and some of their forum accounts are now in private. Still, they have affiliates roaming around the Internet hoping to sell one Everex Elite software.
If you read enough of them, you will find that there are traders who describe this robot as a “tick-scalping”, meaning it only works on demo accounts. Why would you spend your $299 for demo trading? I definitely would not buy this one.