Forex Diamond is a long-lifer that has been working since 2021. The system is a part of the FXAutomater portfolio. The main statement is that the system is as “Brilliant and Profitable as a Diamond.”
Vendor Transparency
The company has one of the best levels of transparency on the market. Its presentations include many backtest reports, verified trading results, and so on. However, does it mean that it is a good and profitable system to invest in? Let’s find out.
How Forex Diamond Works
We are welcomed with an endless wall of truly useful information:
- The system can execute orders fully automatically.
- It works on both platforms MT4 and MT5.
- There’s dynamic trading logic.
- The robot updates itself automatically without a need for our intervention.
- The system has over 40 recovery factors.
- It runs a Spread Filter feature.
- The orders can be closed with the usage of the Trailing Stop Loss feature.
- It allows us to make more profits from the market’s rough moves.
- We can be profitable with default settings.
- There’s access to the member area.
Timeframe, Currency Pairs, Deposit
- It opens orders on GBP/USD and USD/JPY.
- According to the backtest, it can be in the M15 time frame.
- Minimal capital to start trading this EA is $100.
- Recommended deposit is $1000.
- There Is no information about the adviced leverage provided.
Trading Approach
- The system works based on three strategies:
- The first strategy is a Signal strategy. It opens orders to catch a trend move.
- The Countertrend strategy focuses on being in a time when the market turns on.
- The Scalping strategy cuts out several pips profits.
- The system trades with common frequency.
- It uses dynamic SL and TP levels that can be risky if an internet connection is lost or the system lags.
Pricing and Refund
We have a summer sale that has a 70% discount.
The advisor is available for $227 instead of $297. We haven’t seen a 70 percent discount here. We can rely on the next features: a single real license, several demo lifetime demo account licenses, four cross pairs supported, Advanced News Filter, MT4 and MT5 trading supported. There’s a 60-day refund policy.
In addition, we have welcome support, user manual, free upgrades and updates when needed.
Trading Results
It’s a EUR/USD report that was received after testing the system on the M15 time frame. The data period was from 1999-2018. The modeling quality was 90.00% with 10 pips of spreads. An initial deposit was $2500. The total net profit has become $34,159. The profit factor was 1.54. The maximal drawdown was 4.14%. The advisor traded 7238 deals with an 80% accuracy rate on short and 79% on long trading positions.
Forex Diamond runs a real account on IC Markets automatically with 1:500 leverage on the MT4 platform. The account has a verified track record and verified trading privileges. It was created on April 08, 2019, and funded at A$419.90. It’s not a huge deposit to lose. Since then, the absolute gain has become +120.97%. An average monthly gain is 2.91%. The maximum drawdown is 21.14 %. Almost 100 traders track the account.
The system executed 3915 deals with 5486.7 pips. An average win is 11.18 pips when an average loss is 22.62 pips. The win rate is 69% for Long positions and 72% for Shorts positions. An average trade length is 5 hours and 6 minutes. The Profit Factor is 1.13.
The most traded currency pair is GBPUSD, with 3312 orders and $258.98.
The system acts like a night scalper.
We are surprised that Monday is the most frequently traded day.
The system works with medium risks to balance. There should be 28 consecutive losing trades to lose 10% of the account.
The advisor uses a short-range Grid of orders.
The profitability varies much depending on the month. We know little traders who want to experience three months of low profits or losses in a row.
People say that Forex Diamond is …
A bad trading system. On myfxbook.com we have found that most of customers have experienced loses with this EA:
Taking into account that the review was written in 2017, it cannot be an indicator of the present performance of the robot.
FXAutomater created a page of Forex Diamond on Forex Peace Army. However, there are no people’s testimonials or rates there.
Verdict
| Pros | Cons |
| Well-known robot designer | No settings explanations provided |
| Extended money-back guarantee | Trading results aren’t okay |
| Strategies are well-explained | No people’s feedback on FPA |
| No updates for months |
Forex Diamond Conclusion
Forex Diamond is a robot that was released by FXAutomater in 2013. The company doesn’t keep the system updated. So, as a result, the last three months were horrible. The presentation or Forex Peace Army doesn’t include feedback about the system execution.
