Shell Forex EA is a broker-independent algorithm compatible with the MT4 platform. According to the developer, the system is easy to use and is auto-adaptive with the markets. We will review the product in our article and list all its features and cons so you can make a purchase decision at the end.
The algorithm’s author does not provide information on their experience in the markets and whereabouts. We could not find details on their previous robots or backtesting records for the current EA.
Shell Forex EA at a glance
Shell Forex EA functionality
The EA has the following features:
- It does not use grid or martingale strategies.
- There are free updates with the system.
- The robot is compatible with MT4.
- It installs in 5 minutes.
Shell Forex EA trading strategy tests
The developers state that the EA does not use martingale, grid, and arbitrage strategies and does not require a specific broker for functioning. The robot adapts itself to the market.
From the history on Myfxbook, we observe that the robot trades on multiple currency pairs and does not use a fixed stop loss or take profit. It uses averaging for trading, which goes against the developers’ claims. The average trade duration of 1 day refers to a semi-day trading approach.
There are no backtesting records with the robot, which raises many questions on its proper functioning. Without any correct historical records, we cannot know how it will perform for an extended time in the future.
Shell Forex EA real trading results
Verified trading records on Myfxbook are available. We can see that the current floating gain is 489.07% at an account balance of $$32293.83. The drawdown value is around 59.75%, with a winning rate of 75%, with a profit factor of 2.62. The drawdown value shows us that while trading, the algorithm can lose nearly half of the account balance.
The best trade was $1266.64, while the worst was -$161.71 in a total of 247 trades. The system made an average monthly output of 134.51% for the period.
There are no customer reviews present on Forex Peace Army or other noted forums that could tell us about the performance of the EA from the viewpoint of traders. This shows us the algorithm might have recently been introduced in the market and is yet to be tested by the general community.
The developer also does not provide us with any information on their experience in the market and whereabouts. The only way to contact them is by filling out a form on the website.
Traders can purchase the robot for an asking price of €49. The developer states about unconditional refunds, but there is no information on the number of days it is present.
Shell Forex EA Review SummaryShell Forex EA
Functionality2/5 BadThe service works only on MT4.
Trading strategy3/5 NeutralIt uses a grid trading approach.
Live Results2/5 BadLive results show a high drawdown.
Customer support2/5 BadThere is no information present on customer support.
User reviews2/5 BadThere are no reviews present on forums.
- Live records available
- It has a high drawdown
- No transparency of developers
- It only works on MT4