Forex Diamond Review: Things to Consider Before Investing

Forex Diamond

Forex Diamond is a trading advisor that helps people to trade on Forex. It’s a part of the portfolio that belongs to a well-known company – FXAutomater. The presentation includes much intel about what the developers put in the system to make it profitable on the market. The claim is “Brilliant and Profitable as a Diamond.” 

The highlights of Forex Diamond

Forex Diamond features
Forex Diamond features
  • The main feature is that the system works automatically for us. 
  • We can use it on MT4 and MT5 platforms. 
  • There’s dynamic trading logic. 
  • It can be updated automatically for us. No extra doings are needed. 
  • It has over 40 recovery factors.
  • We have to use a Spread Filter. 
  • There’s a Trailing Stop Loss feature to close orders in a profit. 
  • It gets profits from the market moves. 
  • The default settings are good to go. 
  • We will receive access to the member area. 
  • There are two pairs to work: GBP/USD and USD/JPY.
  • The system was tested on the M15 time frame. So, the main one can be M15 or H1. 
Forex Diamond details
Forex Diamond details
  • There are three strategies applied behind the system. 
    • 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.
  • Trading frequency is average. We don’t know how many orders exactly. 
  • It uses dynamic SL and TP levels that can be risky if an internet connection is lost or the system lags. 

The FXAutomater is convinced that the following features set this product apart in the Forex market:

Money management

The advisor runs charts with money-management that helps with calculating lot sizes and placing SL and TP levels. 

Drawdown control

There’s a control of drawdowns. From trading results, we know that they are approximately +20%. 

Trading strategy of Forex Diamond

  • The robot works trend, counter trend, and scalping strategies. 
  • It opens orders on GBP/USD and USD/JPY.
  • The time frame can be M15 or H1. 

Backtesting reports

Forex Diamond backtest report
Forex Diamond backtest report

The robot got a EUR/USD test on the M15 time frame. The tick data was chosen from a 19 years period. The modeling quality was 90.00% with 10-pip spreads. An initial deposit was $2500 that has become $34,159. The profit factor was 1.54. The maximum drawdown was low – 4.14%. The advisor traded 7238 deals with an 80% accuracy rate on short and 79% on long trading positions. 

Trading results in real time

Forex Diamond trading results
Forex Diamond trading results

It’s a pro that we have trading results provided. The system executes orders on a real account on IC Markets with 1:500 leverage on the MT4 platform. There’s a mention that the robot works automatically. The account has a verified track record. So, the data should be relevant. It was created on April 08, 2019, and funded at A$419.90. So, the devs decided not to risk much money if something grows wrong. Since then, the absolute gain has become +131.05%. An average monthly gain is 2.70%. The maximum drawdown is 21.14 %. We have one hundred and seven traders who track the trading results. 

Forex Diamond trading statistics
Forex Diamond trading statistics

There were 4209 orders traded with 5957 pips. An average win is 11.07 pips when an average loss is 22.01 pips. The accuracy is 69% for longs and 72% for shorts. An average trade length is 5 hours and 18 minutes. The profit factor is 1.14.

Forex Diamond directions and symbols
Forex Diamond directions and symbols

The most traded cross pair is GBPUSD, with 3620 orders and $376.24. 

Forex Diamond hourly results
Forex Diamond hourly results

The robot traded all day, focusing on the scalping hours before Midnight.  

Forex Diamond risks
Forex Diamond risks

There’s a 5.93% chance to lose 10% of the account. 

Forex Diamond closed orders
Forex Diamond closed orders

The system works with short grids of orders. 

Forex Diamond monthly gain
Forex Diamond monthly gain

We may note that monthly profitability doesn’t look stable and predictable. There were four months lost. 

Forex Diamond price

Forex Diamond discount
Forex Diamond discount

We have a -$60 discount. 

Forex Diamond pricing details
Forex Diamond pricing details

The new price with a discount is $237 instead of $297. The pack includes a single real license, several demo lifetime demo account licenses, four cross pairs supported, Advanced News Filter, MT4 and MT5 trading supported. We have a 60-day refund policy.

Forex Diamond claims
Forex Diamond claims

The devs also provide welcome support, user manual, free upgrades and updates when needed. 

Customer support

The company provides one of the best support on the market. They answer questions quickly and informatively. 

Are traders happy with Forex Diamond?

We have no idea. Alas, no testimonials about this were written. 

People say that Forex Diamond is …

The page of Forex Diamond on FPA
The page of Forex Diamond on FPA

FXAutomater created a page of Forex Diamond on Forex Peace Army. There are no people testimonials or trading accounts connected. 

Forex Diamond

Forex Diamond
3 5 0 1
Forex Diamond works on a real account making short monthly profits, working with deep drawdowns. We don’t know if the system should work like this. The Forex Diamond page on Forex Peace Army doesn't include testimonials that would help us to understand if the system works well for clients.
Forex Diamond works on a real account making short monthly profits, working with deep drawdowns. We don’t know if the system should work like this. The Forex Diamond page on Forex Peace Army doesn't include testimonials that would help us to understand if the system works well for clients.
3/5
Total Score
  • Profitability
    3/5 Neutral
  • Strategy
    3/5 Neutral
  • Reliability
    3/5 Neutral
  • Price
    4/5 Good
  • Customer Testimonials
    1/5 Awfully

Advantages

  • A well-known developer
  • Backtest reports shared
  • Trading results shown
  • A refund policy provided

Disadvantages

  • No risk or money management advice given
  • Trading results are unpredictable
  • No people testimonials published
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