Shell Forex EA is a Forex expert advisor that is compatible with the MT 4 platform. The robot is auto adaptive and installs within 5 minutes. It can follow low, medium, and high return strategies and comes with an unconditional money-back guarantee.
Investors can purchase the robot by paying through cryptocurrency only. We will review the product and see if it can be profitable for us.
Vendor transparency
The developer is not transparent with us on their whereabouts or trading experience. We scanned the whole website to find information on the designated topic but couldn’t find any.
How Shell Forex EA works
The signals have the following features:
- It does not use grid and martingale
- The robot is broker independent
- Traders can use it on the MT4 platform
- There are tested and proven set files
- It is easy to use
Time frames, currency pairs, deposit
The company is not transparent on the time frames, currency pairs, and the deposit required to use the robot. We could not find any information on the topic present at the website.
Trading approach
The developer only states that the robot does not use grid, martingale, and arbitrage strategies. The algorithm can run itself on any broker. To learn how the robot trades, we had to go over the Myfxbook records and analyze the history.
From there, we observe the use of a grid trading strategy without the use of stop loss. The exits are virtual and are only done when the trades are in profit. The average holding duration is one day, referring to a semi swing trading approach.
Pricing and refund
The developer provides the robot with an asking price of €49. Traders will have to send the required amount in the form of Bitcoin to the available wallet address. There is an unconditional refund available. However, the author does not declare any information about it.
Trading results
The developers provide no backtesting records for their EA. This is a poor approach as, without proper historical testing, we cannot know how the system will perform for an extensive future.
Verified trading records are available on Myfxbook that show performance from December 22, 2021, till the current date. The system made an average monthly gain of 132.46% during the period, with a drawdown of 33.83%. The stated drawdown is high, showing us that the robot loses nearly half the account balance amount while trading.
The winning rate stood at 75%, with a profit factor of 3.26. The best trade was $651.47, while the worst was -$639.81. There were a total of 170 trades. The developer made $11070 in deposits and $0 in withdrawals.
The total gain from the robot stands at 132.46%, where the balance is $20633.10. The total interests charged are at -$646.15.
People say Shell Forex EA is…
There are no customer reviews present on Forex Peace Army, which we could use to get an idea of the general view of traders. Lack of feedback shows that little to no one might have purchased the robot.
Verdict
| Pros | Cons |
| Live records available | No transparency on the developer |
| No reviews on FPA | |
| No information on the strategy |
Shell Forex EA Conclusion
Due to averaging strategies, the Shell Forex EA has a high drawdown on the account, which is evident from the records present on Myfxbook. The developer is not transparent on their trading experience and whereabouts and does not state the algorithm's strategy clearly. Without any backtesting records, we can not know what values of drawdown or profitability to expect in the future.
