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DiamondFX Review: Diamondfx.com Forex Scam Exposed

DiamondFX Review: Diamondfx.com Forex Scam Exposed

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DiamondFX (Diamondfx.com) is another rotten CFDs and Forex scam to hit the lucrative trading world. Diamond FX is purporting to offer commodities, currencies, digital currencies, as well as stocks. According to their website, the platform has over 8 commodities, 47 currencies, 30 digital currencies, and 107 stock types. With such a large arson of trading instruments, why are members angry? Read this genuine and honest DIAMONDFX Review for more details.

DiamondFX Review

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DiamondFX Review

After receiving numerous email complaints from members, we decided to investigate this rotten platform. As it turns out, DiamondFX is another cloned trading platform stealing from unsuspecting investors. Complaints have been received by our help desk by investors from all over the world. Another scary platform is on the loose and we must expose it to keep the trading world safe. Thanks to our years of investing and trading experience, we know how to spot a scam from a mile away.

Professional scam artists will design a look-alike website and fool investors into signing up with them. The idea is to make investors deposit funds with them in the hopes of making money with trading. Not a single soul has been able to withdraw funds with this platform making it a total scam. By exposing some of the tricks used, we will be protecting newbie traders who don’t have a clue. Ensure you read reviews from trusted sources to find out more about online trading investment platforms.

About DiamondFX

According to information posted, DiamondFX Ltd is the owner of this platform. The disclaimer goes ahead and posts their location as St. Vincent and the Grenadines. By doing so, they openly admit that they are offshore brokers. Offshore brokers are not to be trusted with funds as they never follow strict industry guidelines. What is shocking about the platform is lack of any honesty with their services. This expose will show you the red flags on their website.

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One of the most shocking details we found out is the level of anonymity involved with the scam. No one is able to identify the real owners of this website which proves their anonymity. DiamondFX Ltd is not listed on any company register and neither are their owners. Who are the founding members of this platform?

Is DiamondFX licensed or registered?

With an offshore broker, we don’t expect the platform to be dully licensed and registered. And we are right because none of the official bodies we contacted has ever heard of this platform. Some of the regulatory bodies we contacted are on the verge of blacklisting this platform. Regulatory bodies such as ASIC, CONSOB, CySEC, FCA, FSC, and others are posting warning messages. They don’t want investors to sign up with this offshore based scam online trading platform.

Looking at their website, there is no indication of the platform being ever licensed. A legit platform will post copies of their license certificates for all to see. Without any credible document to prove authenticity, DiamondFX is an anonymous and unlicensed platform. Recovering funds form such platforms becomes next to impossible.

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Advantages of DiamondFX

We could not find any trading advantage of dealing with this illicit platform. With so many complaints, it is clear DiamondFX is a scam. The so-called account managers will call you asking for more deposits. Stay away from the platform as it is a clear scam targeting newbie investors. With members crying foul, protect your investments. Exposing their dirty deeds will prompt authorities to investigate and shut down the website.

Disadvantages of DiamondFX

Account Types

DiamondFX Account Types

DiamondFX is furnishing users with five different account types to choose from. These accounts are listed as Bronze, Silver, Gold, Platinum, and Diamond. The problem with these account types is lack of any information regarding minimum trading deposit. How can the platform fail to give users their set minimum deposit price? These scam artists want users to deposit different amounts even for basic accounts. And this must stop as investors are taken advantage of by lack of clear information.

Customer Support

When you look at the bottom of their website, you can see the platform has a live chat area. The problem with this is that DiamondFX is not giving users any live chat support. These scam artists want communication to be strictly through email. With emails, they get to choose which ones to respond to. Phone numbers listed are busy and when they go through, no one picks them. Stay away from any platform with no clear communication channels.

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Payment Methods

When it comes to account funding, the platform has this area well covered. Users are able to deposit funds using various channels such as Credit/Debit cards, Skrill, and more. The main problem with this platform is lack of clear information regarding withdrawal. No user has come forward with proof of ever withdrawing funds with this platform. And this is where we draw the line as a trading platform should allow members to withdraw funds. It is clear no trading is taking part within the platform.

Trading platform

DiamondFX is using MT4 trading platform as their preferred tool of trade. And this is a good trading platform in a bad website. The problem with Diamond FX is NOT being totally secure. A website which lacks basic security software is putting investors at risk. Without DDoS and SSL encryption, the platform is unstable and a target for hackers. Hackers will take over this website and steal crucial information such as Credit card details. Make sure you check whether a platform is fully secure before signing up.

Safety of funds with DiamondFX

Safety of funds is not guaranteed with this platform as members are clearly not making any withdrawals. Stay away from this platform as they don’t segregate accounts. Diamond FX is another example of how online scam artists are targeting online investors.

Scam or legit

DiamondFX Trading Instruments

Evidence is pointing to this platform being a total scam. Stay away from this platform or else become one of their next victims. From lack of proper regulation to outright scam features, DiamondFX is a scam. Make sure to mark their emails as spam and never click on any links sent by their email marketing team. Warn your family and friends from signing up with this illicit platform. These are scam artists who want to steal funds from investors without working for it.

Bottom line

We will be adding this platform to our scam blacklist to ensure investors are aware of the scam.

You can also choose to use authentic and approved Forex trading robots. Go for trading robots which have been given the green light by the trading community. Sign up with Forex trading robots with a strong online reputation.

Wishing you all the best.

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