Forex Diamond EA Review
Our Forex Diamond EA review investigates an EA system that is simple to use and can be well-trusted. It is compatible with the most popular trading platforms, MT4 and MT5, and features dynamic trading logic.
Our team appreciates that there is 24/7 client support available, which is helpful if you have a query about the product. The one-time fee saves you money in the long run over subscription-based robots. Additionally, it has a recovery factor of more than 40, twice the industry standard.
As Forex Diamond EA is the result of 19 years of testing, including real-money account trading, it is clear that it has been put to the test and passed with flying colors. The backtest results support this, offering even more confidence in the product.
Continue reading our review of Forex Diamond EA to learn more about one of the leading trading robots on the market.
Pros
Recovery factor over 40- 19 years of testing and backtesting
- A single one-time fee
- Updates are free
Recovery factor over 40Cons
- No obvious customer support email or phone, but there is a contact form
No obvious customer support email or phone, but there is a contact formForex Diamond EA trading strategy
Forex Diamond EA trading strategyThe Forex Diamond EA forex robot supports both MetaTrader 4 and MetaTrader 5, which are the most commonly used forex trading platforms. As such, it appeals to a wide range of potential clients. It is also noteworthy that you can use Diamond Forex EA even on accounts that have other EAs in place, without negative effects.
Forex Diamond EA was created to work with GBPUSD, EURUSD, USDCHF, and USDJPY, although it can also be used with other currency pairs.
Our review team found that Forex Diamond EA combines countertrend and trend strategies, configurations of dynamic trading parameters, smart money management, and quick trade execution. This forex robot relies on three market domination strategies to deliver positive results.
It uses the Trend-Retrace Signal Strategy to execute profitable trades in a systematic manner using well-vetted trading parameters. The Countertrend Strategy looks for potential trend reversals then automatically adjusts its trading parameters. The Countertrend Scalping Strategy uses small trades that are quickly executed, even adjusting to volatile markets.
You can use one, two, or all three of these trading strategies, depending on your preferences. It supports four currency pairs.
The software also features key trading tools that enhance performance, including optimal money-management, rapid market impulse trading levels, rapid help desk support, high-frequency trading, high slippage protection, low optimization required, profit and spread protection, and automatic updates. Instead of requiring client input for optimization, the EA calculates trading parameters based on the market.
The team behind Forex Diamond EA robot created it to work with small amounts of money, so you can trade with just $100 to $500. This is assuming your broker supports those low deposits. However, Forex Diamond EA suggests deposits of at least $1,000 to $5,000, so there are fewer limitations in your trades.
Forex Diamond EA backtesting data
Forex Diamond EA backtesting dataOur Forex Diamond EA review team enjoys the fact that the software has a very strong recovery factor. While the industry standard is 20 for “very profitable” robots, this EA has a factor of more than 40.
Forex Diamond EA also has solid backtesting data available, including 19 years of real testing. The company provides all of the backtesting data for transparency reasons. The following summarizes the key data:
- For GBP/USD 19-Year Backtest with Fixed Lots: $113k profit, 78.10% win trades, 1.58 profit factor, and 2.54% maximum drawdown
- For GBP/USD 1% Risk + Recovery 9-Year Backtest: $195k profit, 82.71% win trades, 1.74 profit factor, and 14% maximum drawdown
- For GBP/USD 2% Risk + Recovery 9-Year Backtest: $7,552k profit, 82.71% win trades, 1.71 profit factor, 13% maximum drawdown
- For EUR/USD 19-Year Backtest with Fixed Lots: $34k profit, 79.99% win trades, 1.54 profit factor, 4.14% maximum drawdown
- For USD/CHF 19-Year Backtest with Fixed Lots: $44k profit, 79.62% win trades, 1.70 profit factor, and 1.85% maximum drawdown
Forex Diamond EA plans and prices
Forex Diamond EA plans and pricesThere is a single plan available for the Forex Diamond EA forex robot, which is a one-time fee of $297. There are sometimes sales available to reduce the price. That fee supports one real-money account as well as multiple demo accounts.
Although this one-time fee means that Forex Diamond EA costs more than subscription plans upfront, it makes it much more affordable in the long run. The free updates add to that long-term affordability.
Forex Diamond EA comes with a 60-day money-back guarantee. This guarantee helps the robot stand out among the competition.
Who should use Forex Diamond EA?
Who should use Forex Diamond EA?Anyone in search of a reliable and reputable robot advisor should consider Forex Diamond EA. Because the software automatically adjusts the market parameters, it is ideal for those who do not want to worry about optimizing their EA regularly. This aspect means that it appeals more to traders who want to put minimal effort into their EA than those who want to fully customize their automatic forex trading.
Forex Diamond EA download and setup
Forex Diamond EA download and setupIt is incredibly quick and straightforward to download and set up Forex Diamond EA. You can follow these simple instructions to have Forex Diamond working with your MT4 or MT5 platform in no time. Go to the member area and download “ForexDiamond_Installer.exe” for the relevant version. When the installation asks you to choose the folder for installation, choose the MetaTrader 4 or 5 terminal’s folder. Restart MetaTrader and Forex Diamond EA should appear and be ready to use.
Forex Diamond EA mobile compatibility
Forex Diamond EA mobile compatibilityForex Diamond EA may appeal to those who use MetaTrader 4 or MetaTrader 5 on their mobile devices. You will need to set it up initially on your computer. From there, you can view the results of the EA on your MT4 or MT5 application.
Forex Diamond EA – Our verdict
Forex Diamond EA – Our verdictAfter completing our review of Forex Diamond EA, it is clear that this forex trading robot is intuitive and simple to use. Setup is easy, and the one-time fee with free updates and a 60-day money-back guarantee offer affordability and confidence.
Now that you know more about Forex Diamond EA, download it to use with your favorite broker, or find a top broker by reading our reviews.
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