We dissect the established EA which has been on the market for quite some time. It’s appeal can be attributed to a wealth of positive data, which is backed up by top features and MetaTrader platform compatibility. What did we find in our Forex Diamond EA Review? The Forex Diamond EA supports four main currency pairs and adjusts it’s strategy automatically depending on market conditions.
How Does It Work?
Forex Diamond EA has been available since 2013. This provides it with an excellent advantage over some other products in the market, as the creators of the product have already established levels of reliability and customer trust.
We discovered that the product works 24 hours per day, between Monday and Friday when the markets are open, and primarily across four major forex currency pairs. These are the GBP/USD, EUR/USD, USD/CHF and USD/JPY. The EA functions with these pairs when traded on 15-minute timeframes. Other pairs and timeframes are tradable, however, the EA functions best within these parameters.
The EA employees three distinct trading strategies for profitable trading. Our Forex Diamond EA review team found that the software will automatically adjust between a forex signals trend retracing strategy, a countertrend trading strategy, and a scalping strategy depending on market conditions.
To use Forex Diamond, you must be trading on either MetaTrader 4 or MetaTrader 5 with between $1,000 and $5,000.
At times they offer the Forex Diamond EA package at $237. Forex Diamond EA also comes with a 60-day money-back guarantee. This gives you a chance to test out the robot before deciding if you want to continue paying for the product.
When Do I Use It?
The price of the EA makes it affordable for all levels of traders. Although we always recommend beginners learn sufficiently before trading with real money.
The fact that this EA is compatible with two of the most popular major forex trading platforms in the industry, Metatrader 4 and Metatrader 5, also makes it very accessible.
To use Forex Diamond effectively, you have to happy to trade the 4 major FX pairs catered for, and be comfortable with the 15-minute time frame. If this sounds like you, we’d fully recommend giving Forex Diamond EA a try.
Pros and Cons
- Boasts over a decade’s worth of positive back-test data
- Competitively priced compared with other EAs
- Utilizes three different trading strategies
- 60-day money-back guarantee
- One real money account per license
- Caters for four major currency pairs
Is It Easy To Use?
Our review team found that it was very easy to sign up for and activate Forex Diamond EA, on both MT4 and MT5. Between installation and active trading you’ll need 10 minutes.
The Forex Diamond dashboard is simple and functional and has a helpful 24/7 support network. Our review of Forex Diamond EA found the support team to be both knowledgeable and professional. Notable features include:
- Three Completely Independent Trading Systems In One EA
- Self-Updating Algorithm
- Amazing 40+ Recovery Factor
- Reasonable Dynamically Calculated Stop Loss and Take Profit Levels
- High Slippage & Spread Protection
Key Trading Features:
- SIGNAL STRATEGY – Forex Diamond ЕА utilizes its Trend-Retrace Signal Strategy to systematically execute profitable trades. The algorithm patiently applies well-vetted trading parameters to profit from the market trend while safeguarding your gains.
- COUNTERTREND STRATEGY – Forex Diamond implements its Countertrend Strategy to watch the market for potential trend reversals. Once an opportunity is detected, Forex Diamond EA dynamically adjusts its trading parameters to maximize the profit potential of each trade.
- SCALPING STRATEGY – Forex Diamond’s Countertrend Scalping Strategy leverages small spread trades executed with precision and speed. Forex Diamond’s dynamic trading system quickly adjusts your trading parameters to suit even the most volatile markets.
What Makes Forex Diamond EA Different?
Many professionals, and most expert advisor programs, employ a single strategy that consistently turns a profit. The money keeps coming in, so why fix what isn’t broken?
The most successful traders, however, employ multiple strategies. These strategies exploit many variables. No matter what state the market is in, these traders still earn a profit.
Forex Diamond EA makes this diversified strategy technique accessible to amateurs. The program utilizes a set of three proven tactics to get the most out of every trading session. It’s fast, precise, and reliable technology seizes on opportunities allowing you to trade at any time and in any market.
A diversified strategy takes a tremendous amount of resources, time, and expertise to build and polish from scratch. But with Forex Diamond EA, even beginning investors can enjoy the same level of success as elite professionals.
How Much Does It Cost?
This robot is competitively priced at just $297 per license including:
- 1 lifetime license & four demo licenses
- Support for the 4 major currency pairs
- Dedicated customer support
- Lifetime Updates
Overall, our Forex Diamond EA review found a well-established forex trading robot with a good reputation in the industry. We also found that it offers a high degree of flexibility in both how it trades and within which market situations.
Customer support pleased our team were particularly with their advanced levels of knowledge. They also provide a generous 60-day money-back guarantee offered. This all creates a trustworthy environment, and the creators clearly have confidence in their product.
Its core three tactics work together to form a grand investment strategy that gives beginners a solid start to their forex career. The hands-free nature of this expert advisor is also well-suited to busy investors who don’t have time to tweak and maintain a trading robot regularly.
While the software does offer some customization options, it isn’t designed to accommodate manual trades and currency pairs other than its base four. These limitations won’t encourage an enthusiast’s learning and could frustrate more experienced traders. Whether or not this strategy lock-in will bother you depends on your expertise and investment style.
All in all, Forex Diamond EA is an excellent entry point for the beginner who can afford it. It may not last the length of your trading career, but it will put you on a successful path.