Forex-diamond.com Review Is Forex Diamond EA A Scam

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Forex-diamond.com Review: Is Forex Diamond EA A Scam?

Forex Diamond EA Review: this is the name of a Forex robot or an Expert Advisor that claims to be from US based vendors. Is Forex-diamond.com a legit Forex robot or a scam?

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What Are Forex Signals or Indicators?

Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.

Traders are provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs are sold by indicator vendors.

It is totally in character for Forex EA vendor or signal providers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.

The vendors boast that the robot is brilliant and profitable as a diamond. They claim that this is a world class Forex system with amazing 40+ recovery factor. At the moment it is sold for 60% discount and comes with some top features that we will consider next.

How Forex Diamond EA Works

The Forex Diamond EA is said to come with 3 completely independent trading systems in one EA. A dynamic trading logic and self-updating algorithm also comes with the robot. It is also explained that the EA uses a “Trend-Retrace Signal Strategy” to execute profitable trade. This is achieved by using well-vetted trading parameters to profit from the market trend while safeguarding your gains.

Beside the above mentioned strategy, it uses a countertrend strategy which allows it to find potential trend reversals in the market. If it locates this opportunity, the EA adjusts its trading parameters to maximize the profit potential of each trade.

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The third strategy used by Forex Diamond EA is the scalping strategy, it is called “Countertrend Scalping Strategy”. It leverages small spread trade and execute them with precision and accuracy. Like was mentioned above it can quickly adjust trading parameters to match even the most unpredictable markets.

The vendors boast of the high performance of this Expert Advisor in the Forex market. It is said to be smart, fast and easy to set up. They also mention that the Forex robot beat even their own expectations and have proofs published in form of results.

Forex Diamond EA Pricing Structure

The EA costs $237 and offers an unconditional 60-day 100% money back guarantee. This payment gives access to 1 real account, advanced news filter, several demo accounts, 4 currency pairs and works for MT4 and MT5 Forex brokers.

Client Feedback

We find no reviews from their clients on third-party websites like FPA. Considering the length of time Forex Diamond EA has been in existence, this is discouraging.

Results are provided on several MyFxBook accounts and they are verified. This is an advantage for the vendors as we find that the results published on third-party websites are more trustworthy. Although there has been some decrease in the gain percentage since it first started trading in 2020, it is not overall bad when we check the new live account.

Support

To get in touch with the vendors or a member of their customer support service, interested clients are directed to fill an online message request form.

Conclusion

Much of what we find that encourages us is the availability of results from the team running the Forex Diamond EA on MyFxBook. The pricing is competitive as well and we find that their customer support service works fine. The well detailed presentation of their strategy is also encouraging.

Forex Diamond Review

Are you searching for the Forex Diamond reviews in order to find out what is Forex Diamond EA automated trading solution and how ti works. The Forex Diamond EA boasts an amazing 40+ recovery factor that can take your trading to the next level. This product is from the creators of the Wall Street Forex robot, a system that was active in the market for over two years, so is it scam or legit? You are absolutely in the right place because here, within our Forex Diamond review, you are going to find out the complete truth about Forex Diamond.

Forex Diamond Result

Considering the lack of real trading results, combined with the poor customer feedback, We are not in a position to recommend Forex Diamond at this point in time. Hopefully the developers work on establishing more trust with the community, and providing us with some actual proof that their software works. If they work on these 2 aspects, we will reconsider our judgment. If you don’t want to find out more details on it, but instead want to find out the legit Forex trading software, then you can click this link:-Best Forex EA.

However, our No.1 recommended auto trading software is FXMasterBot. If you don’t know what is FXMasterBot, then you can find the details by clicking this link:- https://scamea.com/fxmasterbot

You are better off using a real trading robot, read why

Please let me know what you think about this software, by leaving your comments below this article, now.

Forex Diamond EA Review

Brilliant and as profitable as a diamond are the bold words that Forex Diamond EA website uses to describe their forex robot. It goes on to state that they have come up with the most advanced and dynamic auto trader compatible with both MT4 and MT5 platforms. And for just $237, its developers will give you access to their member area where you can download the auto trader, install and be well on your way to executing a trade in less than two minutes.

In a heavily worded promotional website, the forex diamond trading system claim to have blended a mix of innovative technology, strategies, and experience to come up with a smart, fast and easy to use system. They even refer to it as a high-profit trading system specifically designed to help bulge and lock in gains. And if you aren’t satisfied with its performance within 60 days, they promise to refund you the investment “no questions asked.”

But in an industry infested by scam and unreliable trading robots, which dwell more on promotion than in actual performance, how reliable is Forex Diamond? We set out to test its legitimacy, reliability, and profitability.

What are Forex Diamond’s trading strategies?

Apparently, Forex Diamond doesn’t use one but a combination of three “proven trading strategies.” It employs the signal, countertrend, and scalping strategies. These, according to the website, were infused together with the aim of guaranteeing “speed, precision and reliable performance” for the traders. More importantly, these are designed to help “unlock profits” and work towards market domination.

Harnessing the power of all the three trading strategies and channeling it to a “high-performance trading system,” didn’t come easy. The website attributes the success of Forex Diamond to the “THOUSANDS OF HOURS” its developers devoted to its design and testing.

However, while all these explanations may be interesting and just what every novice or experienced trader wants to hear about an auto trader, it is still doesn’t answer our legitimacy question. Testing its reliability and profitability and ultimately determining its legitimacy takes the close evaluation of its backtesting results and actual trading history on Myfxbook.

Backtesting results

Forex Diamond website claims to have backtested their system on trading data collected over the past 19 years. They used fairly similar trade settings for most of the currency pair backtests with risk levels ranging between 5% and 1% while every tick data stood at 90% modeling quality. And even in what the website refers to 17 years of “financial nightmare” their system was able to report stellar results with a 77%+ win rate.

The first cracks within this rather impressive automated trading dome start emerging here. If you are keen enough, you will notice how the developers have been thorough in pointing every detail of their strategy and system expectations. They are however sketchy about the settings used to achieve these results. For instance, they are vague about the stop loss and risk levels.

With such a sophisticated system, you also can’t help why they couldn’t have used the more accurate 99.9% modeling quality data. Are these backtest results subjected to such factors slippage and commissions?

Myfxbook report

On their website, Forex Diamond EA developers provide screenshots of “LIVE ACCOUNTS” that link back to their Myfxbook trading history page. The information contained therein is, however, SHAM AND INELIGIBLE for use in deciding on the profitability of the system. While the developers sell them as REAL ACCOUNTS, they are indeed DEMO ACCOUNTS that can be easily doctored to fit a predetermined narrative.

Their results are not an accurate representation of the market as they are subjected to such factors as requotes and swaps that affect the profitability and spreads. This effectively bursts the “highly profitable” narrative the Forex Diamond EA developers have worked so hard to build on their website.

Everything else you need to know about Forex Diamond EA

Strengths

60-day money back guarantee:

The greatest takeaway from the trading system if it really exists is their60 day money back guarantee. The elongated time covers for the suspicious backtest and demo trading results as it gives you ample time to try it on a demo account and a risk-managed live account before deciding on whether to keep it or not.

Demerits and reasons you shouldn’t buy the trader

Misrepresentation of information

The fact that the trading system developers can’t be trusted with a simple objective of creating a real account and regularly uploading its trading history on Myfxbook defeats their legitimacy. With such a “profitable” system that uses not one but three trading strategies, why would its developers go for a demo account? Did it perform so dismally, just like its demo, that it would discourage investments?

Lack of PAMM accounts

Programming and forex trading experts with the ability to create such a powerful trading system they can choose from a list of monetization options. And licensing it for a lifetime for just a few bucks isn’t the wisest. The most profitable and popular within Wall Street involves creating VIP PAMM Accounts where they manage investor’s funds at a commission.

PAMM accounts management is less stressful and lets them keep maintain their proprietary rights intact. It is therefore suspicious that Forex Diamond developers would prefer to sell their “innovative technology” for a few dollars at the expense of creating an undying stream of wealth from it.

Lack of corporate headquarters

Even with so many red flags, one would still want to hold onto a shred of hope that the system might be legit. You, therefore, turn to the website for information about these developers. And lack of official address or information about these “experienced developers” drives the last nail on the decision to stay away from the automated trader.

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