Today I’m looking at a new robotic fund management service that promises 100% transparency at a portfolio over 3 years, Shamayal. According to the sales page, there is a simple five-step process that will give traders and expected return of 7 to 12% every single month. In my review today, I’ll be analyzing their results, and anything else I consider pertinent in the determination of whether or not this is a viable investment opportunity.
The company headquarters is located at Millington Rd, Hayes, Middlesex UB3 4AZ, United Kingdom. There isn’t an introduction to the team of associates, but traders can get in touch with support via +44 20 3289 3467, +61 87 2000 467 or email email@example.com. Considering at the base of this product, it is fund management, I would like to know more about the traders and managers, to understand what type of experience they’ve had in the Forex marketplace.
While there are automated solutions, and Forex signals, the most advertised product provided by the Shamayal Associates, is there fund management products, which they refer to as robotic fund management. I wonder if they should just be selling Forex robots. Regardless, they believe that this service is built for traders that have limited trading time, struggle with overcoming their emotions, or simply want to diversify their Forex portfolio. In reaching out to these traders, they promise to “have consistently maintained a success rate of over 70% every month in the past decade.” They claim that by managing accounts, and publishing market research and trade ideas that they can help shape a traders trading approach. I can’t seem to find any published market research trade ideas though. Maybe this is in some sort of a members area that I don’t have access to.
In order to get access to the fund management program, traders are required to open a live account with Finprotrading, select “shamayal.com” as their fund manager, map their account, view live trading performance and expect 7-12% returns every month. Many brokers are offering services like these lately, which can be seen in my KayaFX review.
This process seems quite simple, but it does require that you register with a broker that I have no experience with. Before signing up with this service, I recommend doing extensive research on this broker to make sure that they are both reliable and trustworthy. This is a similar approach to the last management program that I reviewed, Pagliani Fund.
- Type: Forex Fund Management
- Price: Broker Registration
- Strategy: Undisclosed
- Timeframe: All
- Pairs: All
There are a couple aspects I want to touch on from the Shamayal breakdown. First, the developer of this fund management service doesn’t take direct payment, but instead wants traders to sign up with a broker through their affiliate link. This is not free, as you will need to deposit real money with that brokerage in order to get access to this fund. This practice is common in binary options, and is generally used by poorly performing products like ToolsTrades.
The second aspect I wanted to touch on, was the lack of strategic discussion. The team of associates do not tell us that their approach, or methodologies, which essentially has us going in blind.
The trading results section of the Shamayal website is currently lacking. While in the past, the service may have had impressive results, now there is only one account, and it hasn’t been traded since early November 2016. The other account, labeled as Forex swagger, which is still used as evidence on the front page of the website, was deleted.
So what this point in time, the associates are only providing us with one deleted account, and another account that ran from early September to early November 2016. All we have to go on here, is 2 months of trading on the XAGUSD pair (Silver).
This account shows a 49% gain, with a 2% drawdown. Yet, there is also a large PIP differential with the average loss coming in at 160 pips, and the average win at 5 pips. This is a very high risk reward, and has led to the account being at -2723 pips in total.
The results are not in depth, up-to-date or impressive.
As of right now, I won’t be recommending the Shamayal Forex fund management program to the Forex Robot Nation readers. There are parts of the website that I appreciate, but the results don’t justify interest in this service. There are no active trading accounts, and the old trading accounts are either deleted or unimpressive. Hopefully these are aspects that the creators of this service can rectify, and then I will consider changing my mind.
Thank you for stopping by, and please let me know if you have anything you would like to contribute.