In this review, we will describe why DiamondFX is a scam that you should avoid at all cost !
Is DiamondFX Legit?
Looking at DiamondFX website, it shows that they are owned by DiamondFX Ltd. DiamondFX Ltd is located in St. Vincent and the Grenadines, a well-known offshore zone and a preferred location for shady brokerage. DiamondFX is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why DiamondFX is a dangerous broker to deal with.
Are Funds Safe with DiamondFX ?
With such lack of information and DiamondFX being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is DiamondFX is withholding vital information to users.
DiamondFX could go bankrupt from one day to another since there are no banking information about this broker.