Shell Forex EA Review: Does It Win or Lose?

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Shell Forex EA

Shell Forex EA does not utilize grid and martingale strategies and automatically adapts itself to the market. The algorithm can be used on any broker and comes with free updates from the developer. We will cover all the benefits and demerits of the system while considering the live and backtesting records to know if it can be profitable for the general community.

What is Shell Forex EA?

Shell Forex EA has the following features:

  • It does not use martingale strategy
  • The developer offers unconditional refunds
  • The robot works on the MT4 platform
  • Three different strategies, i.e., low, medium, and high return, are available

The developer does not recommend the leverage or the minimum balance required to trade with the robot. 

Official Shell Forex EA website

The developer presents the robot through their website. All the information about the system is available under a single page from where we can witness the link to live records and the features. The website interface is poor, and the required knowledge is lacking.

How can we use Shell Forex EA?

  1. You can use the robot by purchasing it from the website 
  2. Traders have to place it in their experts’ directory and attach the robot onto charts to start trading
  3. It is also vital to enable the auto-trading button

Pricing & refund

The robot is available for €49, and traders have the option to pay directly to the authors’ wallets via cryptocurrency. The developer states that they offer unconditional refunds. However, we cannot find the details on the maximum days the money-back guarantee is applicable.

Trading strategy

The developer only states that the robot does not use any grid or martingale strategies. We head to scan the live records present on Myfxbook to understand the methodology of the system. From there, we observe that it uses averaging on multiple currency pairs. The average trade duration hangs at 1 day, which refers to using the day trading approach. 

Trading history on Myfxbook
Trading history on Myfxbook

There are no backtesting records for the robot on the website. Without any solid historical performance, we cannot interfere with how the system will perform for an extended time in the future. 

Current performance

We have live records from December 22, 2021, till the current date at the Myfxbook website. The robot had an average monthly gain of 143.34%, with a drawdown of 59.75%. The high value of drawdown shows us that while trading, the algorithm causes a loss of 50% on the account balance.

There were 196 trades in total, with 161.61 lots traded. The expert advisor traded with a winning rate of 77% with a profit factor of 3.66. The average winning trade was 24.93 pips, while the worst one was 19.75 pips. 

Live records on Myfxbook
Live records on Myfxbook

What are the real customers saying about Shell Forex EA?

There are no customer reviews present on Forex Peace Army or TrustPilot that could guide us on the general viewpoint of traders. Without any feedback, it is possible to deduce that no one has purchased the system as of now due to the value of high drawdown.

Summary: is Shell Forex EA a trustworthy robot?

Shell Forex EA
2.6 5 0 1
Shell Forex EA uses averaging strategies to trade the market, which can be risky if the instrument trends in one direction. This causes a high drawdown on the account, which is evident from the live records present on Myfxbook. There are no customer reviews on forums, and the developer is not transparent about their trading experiences.
Shell Forex EA uses averaging strategies to trade the market, which can be risky if the instrument trends in one direction. This causes a high drawdown on the account, which is evident from the live records present on Myfxbook. There are no customer reviews on forums, and the developer is not transparent about their trading experiences.
2.6 rating
2.6/5
Total Score
  • Strategy
    2.0 rating
    2/5 Bad
  • Features
    2.0 rating
    2/5 Bad
  • Trading results
    2.0 rating
    2/5 Bad
  • Reliability
    3.0 rating
    3/5 Neutral
  • Pricing
    4.0 rating
    4/5 Good

Like

  • Live records available on Myfxbook

Dislike

  • Uses grid
  • No information on the developer
  • High drawdown
Total
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