Shell Forex EA is said to be a lucrative trading system that can assist you to make money. So the vendor says that no matter how much profit you want to make, the EA is there to obtain the money for you. The system will allegedly back you up with all must-to-do trade features.
The vendor of this robot is not disclosed. So, the names of developers, their professional backgrounds, location, and other vital details cannot be determined.
Features
The robot has the following characteristics:
- It is easy to use and requires only 5 minutes to install.
- It offers free updates.
- Its set files are tested and proven.
- The system is auto adaptive and broker independent.
- The EA is compatible with the MT4 platform.
The devs assert that this EA applies low, medium, and high return strategies. Unfortunately, they don’t give any details about any of the so-called trading methods. In any case, the team mentions that the system does not apply the grid, arbitrage, and martingale approach. We hope to get insight into the strategy used by assessing its live records, which are available on Myfxbook.
How to start trading with Shell Forex EA
To start trading, you first need to purchase, download and set the EA up. After that, attach it to your MT4 account and activate it. You don’t need to intervene in the trading as the system is 100% automated.
Unfortunately, the team does not share any information about the price of the robot, though unconditional refunds are offered.
Backtests
The devs also fail to post the EA’s backtest results. For this reason, we have no idea what outcomes the algorithm produces under simulation and whether they are favorable or not.
Verified trading results of Shell Forex EA
The good thing is that live trading results are available, and they are verified by Myfxbook.
This account was opened about a month ago, and a deposit of $11070 was placed. The EA’s monthly profit rate is 165.82%, while the drawdown is 33.83%. So, there’s a healthy risk/reward ratio of 1:4.9. The current total gain is 171.66%, thanks to the profit ($19002.44) the robot has made.
There are 193 completed trades with win rates of 75% for long positions and 77% for short ones. The average win and average loss produce 25.17 pips and -19.75 pips, respectively. Clearly, the EA has a better chance of closing a trade with a profit than with a loss. The profit factor is 3.61 and impressive.
We see here that the system applies the grid strategy. So far, the approach has brought much success to this account, as evidenced by the large profit amounts made. A few losses were made. Huge lot sizes are applied.
Customer reviews
Shell Forex EA has zero customer reviews on its official site. We hoped to find some testimonials on the product on websites like Trustpilot and FPA. Unfortunately, our search was futile.
Is Shell Forex EA a viable option?
Advantages
- Live trading records are there
- Easy to use
Disadvantages
- The grid strategy is used
- Short trading history
- Vendor is anonymous
- No backtest results are shown
Conclusion
The vendor shares the live results of the robot, and they are undoubtedly outstanding. However, the system has been trading on Myfxbook for a short period, so we are not sure if it can keep up the good performance in the long term. With the grid approach present, trading risks could increase in the future. Also, the lack of vendor transparency is a concern as we can’t determine the team’s reputation.
