Black Diamond Special EA Forex Robot Review

The Black Diamond Special EA is an automated forex trading robot that claims to generate consistent profits by automatically executing trades on your behalf. It is marketed as one of the best and most profitable forex robots available.

The developer states that the Black Diamond Special EA analyzes the market properly and takes automatic trades to help grow your trading account. It purportedly achieves win rates of over 75% and enables users to earn 15-20% in monthly returns.

In this comprehensive review, we will analyze the features, performance metrics, pros and cons of the Black Diamond Special EA to determine if it delivers on its promises and is worth the investment for forex traders.

Black Diamond Special EA

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Features of the Black Diamond Special EA

The key features of the Black Diamond Special EA include:

  • Fully automated trading: The robot automatically analyzes market conditions, identifies trading opportunities, executes trades, and manages open positions without requiring any manual intervention.
  • Multiple currency pairs: It can trade all major and minor currency pairs like EUR/USD, GBP/USD, USD/JPY, AUD/USD etc.
  • Timeframe flexibility: The EA can operate on multiple timeframes ranging from 1 minute to 1 hour, providing flexibility to traders. The developer recommends using M5 timeframe.
  • Martingale money management: An optional Martingale system is built into the EA which increases lot sizes after a losing trade in an attempt to recover losses. This carries high risk.
  • News filter: The robot has a news filter feature to avoid high impact news events that cause volatile price swings.
  • Stealth mode: An optional stealth mode hides SL/TP levels and other trade details from the broker to prevent trade manipulation.
  • Auto lot sizing: The EA can automatically determine optimal trade sizes based on account balance and risk parameters set by the user. Fixed lot sizing is also available.

Performance Metrics and Backtests

The vendor provides limited backtest results and performance metrics for the Black Diamond Special EA.

On their website, they share a backtest report conducted on EUR/USD M5 timeframe over a 5 month period from 2019-2020. The results show a profit of $20,345 on a starting balance of $5,000, with a max drawdown of 15.4%.

However, the backtest uses a very high level of optimization that is unrealistic for live trading conditions. The lack of recent live forward testing raises doubts about real-world profitability.

Independent backtests and reviews of the EA are hard to find, making it difficult to verify the developers’ claims. The absence of third-party verified performance statistics is a concern. More transparent results would build greater trust in the robot’s capabilities.

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Pros of the Black Diamond Special EA

Fully automated trading: The EA handles the entire trade execution process from start to finish without requiring manual analysis or intervention. This allows hands-free trading.

Flexibility in pairs and timeframes: The ability to trade any currency pair on multiple timeframes provides more opportunities and flexibility to traders.

In-built risk management: Features like news filter, stealth mode, and Martingale lot sizing help mitigate risks. The stop loss and take profit levels can also be customized.

Free updates: The company provides free lifetime updates to the EA as long as you have an active license. This ensures you get access to improved versions.

60-day money back guarantee: A 60-day refund policy provides sufficient risk-free trial time to test the profitability of the EA.

Cons of the Black Diamond Special EA

Lack of transparency: There is no third-party verified trading or backtest results available. The lack of transparency makes it hard to trust the performance claims.

Heavily optimized backtest: The single backtest on the website seems to be heavily curve-fitted and over-optimized, raising questions on real account profitability.

High risk Martingale: Use of Martingale increases risk of blow up on real accounts due to continuously increasing lot sizes after losses.

Expensive for unproven EA: The price tag of $2,500+ for a robot with no verified track record seems excessive compared to competitors.

Potential lack of support: Some reviews mention poor customer service support after purchase.


The Black Diamond Special EA for MetaTrader 4 makes bold claims of delivering high winning rates of over 75% and 15-20% in monthly returns through its automated trading algorithm. However, there is no verified third-party backtest or forward trading results provided to validate these claims.

The lack of transparency, heavily optimized backtest, high risk features, and expensive pricing are some factors that raise red flags. While it provides some useful features like news filter, stealth mode, and free updates, the absence of a verified track record makes it an unproven EA.

We recommend proceeding with caution with the Black Diamond Special EA, starting with small position sizes. Extensive backtesting on a demo account is advised before considering using it on a live account. Until more verified statistics are provided, traders may want to evaluate other EAs with greater transparency and user reviews.

Overall, the Black Diamond Special EA lacks sufficient public proof of its purported profitability to justify the high price point of over $2,500. More historical trading statistics and user testimonials would help establish greater trust in its performance. In the absence of verified results, the EA remains a risky investment.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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