Forex Diamond EA
![](https://ratingforexx.com/wp-content/uploads/2024/02/Forex-Diamond-EA-obzor.png)
Trading tactics that help you earn money passively did not delve very deeply into the intricacies of the process. The authors of the software insist on their effectiveness and profitability. But user comments say otherwise.
Trading Conditions
Trading terminal |
MetaTrader 4 (MT4) |
Minimum deposit amount |
From $1,000 |
Price |
237$ |
Leverage |
Up to 1:500 |
Financial instruments |
Cryptocurrency, currency pairs, indices, commodities, precious metals, international stocks, energy. |
Margin Call/Stop out |
Not applicable |
Order execution |
Market Execution |
Min order |
Default from 0.1 lot |
Maximum drawdown |
From 34.35% per annum |
Automatic account type |
Eat |
Expert opinion
Based on the information provided on the SmartGuides24.com page about Forex Diamond EA, the broker is not the main subject of discussion. Instead, the focus is on Forex Diamond EA – an automated trading robot (advisor) for working in the Forex market, designed for use in the MetaTrader 4 trading terminal. Since 2015, it has offered traders the opportunity to trade on currency pairs such as EUR/USD, USD/JPY, USD/CHF, and GBP/USD using trend following, market reversal, and counter-trend scalping strategies. Forex Diamond EA promises high trade frequency and a retracement ratio of over 40, which should provide stable profits. However, it is important to note that the effectiveness and safety of using this type of Forex trading software may be questionable, especially given user reviews and the lack of transparency about the company and terms of cooperation.
Consideration of the history of the formation of Forex Diamond EA
There is very little information about who is leading the project and when the project started. I had to collect facts bit by bit to form at least an approximate image of the service.
Forex Diamond EA was allegedly introduced to the market in 2015. This indicates that the project has been around for several years, which could potentially give it time to demonstrate its effectiveness and reliability. The project was developed by a company or group of developers that specializes in creating automated solutions for trading on the Forex currency market. The specific names of the founders or leaders of the project are not mentioned. It turns out that we are dealing with an anonymous service.
There is no information on where the company is registered or whether it is licensed by any financial services regulator. This raises questions about the reliability of the organization.
Lack of information about management, legal status and licensing may indicate a lack of transparency in the company’s activities, which is an important factor for trust. In our case, as you can see, there is no specificity. Of course, this should raise questions for users before they start registering and opening a personal account on Forex Diamond EA.
How Forex Diamond EA attracts clients
To work with Forex Diamond EA, a MetaTrader 4 (MT4) trading terminal is required. The specific account types that Forex Diamond EA is compatible with are not mentioned. However, it requires a trading account with a Forex broker, which means that the advisor can work with various account types supported by brokers offering access to the MT4 terminal. To get started with Forex Diamond EA, a minimum deposit of $1,000 is required, which is a relatively high threshold for new traders. Leverage up to 500 is offered. You can automatically forget about cooperation with brokers who have received a license from normal auditors.
Forex Diamond EA is designed to run on the MetaTrader 4 platform, one of the most popular trading platforms in the Forex world. This allows traders to use the advisor on a wide range of brokerage accounts that support MT4. Forex Diamond EA combines three trading strategies: trend following, market reversal and counter-trend scalping, which provides a variety of approaches to trading. The advisor works on currency pairs EUR/USD, USD/JPY, USD/CHF, GBP/USD on the M15 timeframe, which provides traders with the opportunity to trade on the most popular and liquid markets.
The advisor is said to include high slippage protection features and provides detailed guidance and tutorials for setup and use, as well as 24/7 support. But user reviews contradict these statements. Take a careful look at the comments of ex-clients, and you will understand that we are dealing with fake software.
Reviews of Forex Diamond EA
There were no serious problems with finding comments, but on the other hand, it cannot be said that there are plenty of references to the service on the Internet. Still, there is very little feedback about the financial strategy, which makes us think that the launch date of the program is not 2015.
Reviews about Forex Diamond EA indicates that after replenishing the balance, the robot gradually begins to drain money. Smoothly, but everything goes exactly to this finish.
Look at the stories, losses vary from 100 dollars to 1 thousand. The office works on a large scale.
In the comments, including the complete disinterest of consultants and administrators in quality brokerage services. The goal is simply to force the trader to swindle out as much money as possible.
Actually, given this kind of statement, the best solution would be not to even waste time installing the program.
If you believe the scammers and register, deposit money, start studying the nuances of chargeback. Surprisinglyget your money back Can. It’s just not an easy procedure.
Verdict on the work of Forex Diamond EA
Now as to why we are faced with yet another development by scammers:
- about lack of regulation and unknown place of registration;
- exaggerated promises of high income. Promises of significant returns without a clear explanation of the risks and actual trading results;
- negative user reviews. Traders describe the product as ineffective and claim that it results in loss of funds, casting doubt on its reliability;
- legal tricks in the contract. An indication in the contract that the company is not responsible for the content posted on their platform, which reduces trust in it;
- insufficient information about trading strategies, conditions of use and real effectiveness of the product;
- the minimum deposit requirement of $1000 may be too high for ordinary investors and increases financial risks;
- The lack of clear information about the company’s security measures and legal status raises doubts about its reliability.
- no direct contact information and insufficient educational resources for users;
- statements of profitability that are not verified by independent sources or actual trading reports;
- The inability to test the system on a demo account before investing real funds may indicate the company’s reluctance to demonstrate the real effectiveness of the product.
These are all just red signals that Forex Diamond EA is the work of scammers.
Latest Reviews
Evgeniy Shestakov
I started trading with them with a minimum amount. They assigned me a manager who helped me with trading. My stock has already doubled in one day. The mentor began to say that I could earn even more, but I needed to increase the amount on deposit. I wanted to try to get the part out first, and told my mentor about it. After that I was unable to log into my account.
Read moreArthur
I tried to trade here. Nothing worked out; for some reason, promising deals went into the red as soon as we tried to close them. The terminal could ignore orders for several minutes until the price of the asset changed for the worse.
Read moreArthur
I really didn’t like that they called me several times a day after I registered my account. I didn’t even have time to top up the deposit when calls started coming in asking me to deposit as much money as possible and invest it all in an incredibly profitable deal. Such recommendations contradict any rules of money management. And that's why I refused to work with them. And then for another two weeks I blocked the left numbers from which they called.
Read moreMax
I met on VK girl from somewhere in the EU and corresponded with her for a couple of weeks and evenby videocommunicated. And then she started asking about my work and said that she herself is engaged in trading and lives well on the income from it and offered to introduce me to a person who has a good broker. Like a fool, I agreed and gave my contacts, and within a day they called me and started telling me tales about huge incomes and pointing out some graphs and reports. A day later I transferred money to the account to scrape $300 according to mystockpiles and tried it at the merchant. My trading almost immediately went negative. I realized that it was not mine and wanted to withdraw the money, but I was thrown out of my personal account and was not allowed back.
Read moreEgor
Rakuten Trade clearly does not look like a normal broker. Too many jambs. It is very difficult to open an account with him; it is impossible to trade normally. Any transaction becomes unprofitable due to direct and hidden commissions.
Read moreMatvey
I fell for the promises of the bitprojectinvests manager like a horse. And now I can’t even withdraw my money.
Read more