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FX Shutter Stock EA Review: Is this a Scam?

FX Shutter Stock EA Review: Is this a Scam?

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Welcome to the FX Shutter Stock EA review. FX Shutter Stock EA was introduced to the trading community in May 2016 but the developer remains anonymous. I cannot establish who is behind the website or even their actual location. However, the sales page has two links which lead to their live myfxbook and FXBlue accounts respectively.

We believe that this developer wants to drive their point home by showing us the live performance of FX Shutter Stock EA rather than dwelling on their background, trading history and such like information. This is fine with me as long as performance suggests that the robot can be trusted as a reliable expert advisor for trading the Forex market.

The administrator of the sales page can be contacted using the email [email protected] In the meantime, find your best Forex trading robot here.

FX Shutter Stock EA Review

FX Shutter Stock EA is optimized for trading two pairs: These are EURCHF and AUDUSD respectively. The developer has also provided the various setting files for each pair. This means that FX Shutter Stock EA is quite dynamic as these pairs have been optimized for trading under various risk levels.

The robot’s settings use stop loss and maximum draw down – according to the developer. I find this statement quite vague as it does not clearly communicate the developer’s message.

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They also re-assure us that FX Shutter Stock EA does not use martingale style of trading, which is evident from the live trading performance which they have shown us on the sales page.

The most compatible brokers with FX Shutter Stock EA must provide a leverage of 1:500 in an ECN environment. The developer is actually providing affiliate links to their recommended brokers, which is not a bad thing because they are earning commissions from this and at the same time making your work easier.

FX Shutter Stock EA Review – breakdown of features

This developer is economical with the kind of information which they are dispatching to their audience on the sales page. They don’t tell us their trading strategy and yet this information is very important when it comes to making purchase decisions.

But it also appears that the developer is compensating this with their live account performance.

Additionally, they have provided us with a number of back tests where the robot was tested under various risk settings for the two pairs, EURCHF and AUDUSD.

Back tests are not my preferred way of verifying performance. Euro Scalper Pro, Dynamic Pro Scalper, Ganon Expert Advisor and many others are victims of using back tests.

The maximum draw down that can be realized when using this robot under high risk settings is 40%. This is within your control and so you don’t have to worry that when you purchase a license, you will be forced to using a robot that does not provide setting files for optimizing risks and trading according to your preferred style.

We are hoping that as time goes by and the profit curve keeps rising, many traders will express interest for the FX Shutter Stock EA, and this will ultimately force them to include the trading strategy of the robot on its sales page. Otherwise, if this information is missing, some impatient traders might ignore it altogether.

They might even skip the developer’s live proof of performance, and that means lost sales for them. So I believe this is a very critical part of their marketing and they should include it in their strategy.

FX Shutter Stock EA review – trading performance

There are two live performance accounts from myfxbook and FXblue respectively. But I will stick to myfxbook trading results because I’m more comfortable with analyzing this platform that I am with FXblue.

The numbers are impressive as absolute gain is +534.68%. There is a disparity between absolute gain and overall gain as recorded by this account. This simply means that most of the revenue that goes into this account is generated by FX Shutter Stock EA and are not deposited by the developer.

This myfxbook account was created in October 2016 and is very much up to date. The gains in terms of dollars are €3278.75 out of a deposit of €1108.00.

This is a live account and trading privilege is also verified. This is a sign that we are headed in the right direction, and the robot could be a revolutionary trading tool in the Forex marketplace.

However, the one thing that I don’t like about the FX Shutter Stock EA is the draw down which this Myfxbook has recorded so far. This is at 32%, which is unacceptable. Good numbers should be between 10-15%.

And I see that monthly returns are just 11%. This means that the strategy does not risk a big chunk of your account. So I actually don’t understand where the big draw down is coming from.

FX Shutter Stock EA review – pricing

For the price of $200, traders get 1 license for a live account and 2 licenses for demo. The correct account details must be given because these cannot be changed later. I am wondering why the developer would be unwilling to alter this information. Perhaps it’s a ploy to ward off frauds who might use tricks to trade two live accounts using just one license.

This is a one-time payment and there is no worrying of incurring additional costs in the future. Professional support is provided 24/7. However, the developer does not address the issue of updates, so I’m not sure whether updates will be released frequently or not and after how long.

Our best advice for you

We find it quite surprising that despite the impressive myfxbook numbers, FX Shutter Stock EA does not have any customer feedback yet.

This is not normal, especially if we consider the fact that they’ve been around since 2016. Does it mean nobody is using this robot? I need to find out. So if you have used this robot before, I implore you to add your remarks in the comment section below so that the trading community here can know what’s up with FX Shutter Stock EA.

In the meantime, we can use these highly recommended expert advisors. 

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