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.
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.
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 2013, it is not overall bad when we check the new live account.
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.
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.