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Shell Forex EA Review: Is It a Reliable System?

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Shell Forex EA

Shell Forex EA promises to make your trading profitable and successful whether you are a professional or beginner trader. The EA runs on the MT4 terminal, and you only need 5 minutes to install it. The company that created this product is not introduced. Neither are we told which professionals developed the EA. So, we don’t know if they have created other tools or if they have a good or bad reputation in the Forex market.

The must-to-trade features of this robot, according to the vendor, are listed below:

  • It is easy to use and auto adaptive.
  • The system includes tested and proven set files.
  • It offers free updates.
  • It is independent of brokers.
  • The robot provides customer support through email.

Trading strategies and currency pairs

Shell Forex EA is said to trade using low, medium, and high return strategies. However, the devs do not indicate what these approaches entail. Although they assure us that dangerous approaches like the grid, martingale, or arbitrage aren’t utilized, the trading history tells us otherwise. As we assessed the trading results of the live account the system is currently operating on Myfxbook, we noted that it works with the grid approach.

The backtest results are missing. We are unsure if the devs tested their strategy or not and why they have downplayed this data. Anyway, traders need to see how the robot can perform in the long run before they stake their money on it.

Shell Forex EA trading statistics

Trading data on Myfxbook

Trading data on Myfxbook

The results above show that the system works with very high risks to the balance. In just a month, the EA has decimated 59.75% of the investment. There’s a profit value of $19, 743.68 which has been produced from a deposit of $11,070. To date, the gain made is 178.35%., and the account balance currently stands at $25,713.68.

Trading performance on Myfxbook

Trading performance on Myfxbook

From 199 trades executed, 2873.6 pips have been made. We can already tell from the sum of lots traded (164.99) that they are big in size and hence increase trading risks. The profit factor is 3.64 and indicates that the system is lucrative. There are win rates of 75% for long positions and 77% for short ones. The average trade length is 1 day.

Summary of trades on Myfxbook

Summary of trades on Myfxbook

GBPJPY is the only currency pair that has recorded losses till now. The EA mainly carries out trades with the AUDUSD symbol.

History of trading activity on Myfxbook

History of trading activity on Myfxbook

Grids of orders were applied for trading. Subsequently, large profit amounts were realized. Moreover, the system does not trade with a fixed lot size.

Pricing and refund

Shell Forex EA is currently being sold at a fair price of $49. After you purchase it, you need to send the vendor your MT4 account number to acquire the license.

What else you should know about Shell Forex EA

This trading system doesn’t have any customer reviews on any of the popular verification websites like Trustpilot and Forex Peace Army. Perhaps it’s still unpopular among traders.

Shell Forex EA Conclusion

2.8

This EA is indeed profitable, but the grid strategy present threatens to erode the gains made. The vendor also fails to disclose some details about the robot. For instance, they don’t reveal their identities, or the backtest report. The lack of customer reviews is also a matter of concern because you can’t tell if it is useful to traders or not.

  • Price-2/10
  • Strategy-2/10
  • Trading results-3/10
  • Vendor transparency-3/10
  • Customer reviews-3/10
  • Support-4/10

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