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Forex Diamond EA

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.

Best Brokers 2024

All brokers

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.