The broker promises potential clients will get access to CFD trading, where they will achieve incredible success. Traders will “reach the world level” thanks to the “great opportunities for portfolio diversification” supposedly available on the platform. However, the lack of information about the platform’s owners and the license’s presence does not cause us to trust this firm.
Should you cooperate with this organization? From our DiamondWhale review, you will find out what risk you are exposing your capital to when you entrust this broker.
How to Trade
The broker offers clients to start trading with a demo account to test the strategies and functionality of the platform. The company promises to provide:
- 4 types of tariff plans with spreads from 0 pips.
- Leverage from 1:200 to 1:500.
- Bonuses from 30% to 100% upon account registration.
- 5 asset classes, including stocks and crypto.
- Unique ETFs in the form of asset packages.
Key information about fees and commissions is not disclosed on the website. Also, users cannot find out about the deposit/withdrawal procedure.
MAM/PAMM accounts are available for professional traders. You can get detailed information about these additional services from the support staff.
DiamondWhale Vital Info
How can we determine the term of the project if no date is specified on the official website? The age of the domain, which the broker launched in August 2024 can guide us. Obviously, this is too short a period of operation of the platform to establish a trustful relationship with traders.
The company looks extremely suspicious. We will have to study the data of the organization, which it has not provided on its platform. However, we cannot do this, as DiamondWhale is not in the registers of legal entities of any country. Most likely, the owners of this site work outside the legal field.
This is an anonymous organization. The names of the founders, executives, and CEO are not on the website. I'll add an additional signal to this list – the firm has no legal address. They hide their location. They do not mention any specific address in any countries. I don't understand what jurisdiction this firm belongs to. Most likely it's a classic offshore. I will get to the most important red flag – diamondwhale doesn't have a license :(( No financial commission monitors the honesty and transparency of this broker! Where are the guarantees that the broker is operating legally? Is there a similar legal entity available anywhere in the world? It is possible that this is just a scam that takes money but doesn't give it back.
I regret that I decided to work for diamondwhale.pro. I realized from the beginning that their claims of profitable trading were too good to be true, and in the end it turned out to be a scam. Scammers lying to customers. I was unable to make any money or withdraw the rest of my funds, and in the end I lost $396. I strongly advise anyone considering working with Diamondwhale to look elsewhere as they are not trustworthy and do not look out for the interests of traders. Stay away from these swindlers. They are a scam!
I recently opened an account on this platform and had the worst experience with the broker. The promised returns were unattainable. I lost €4,654, a significant amount of money for me. Customer service did not respond to my queries. I could not contact anyone when I had questions about blocking my account... I do not recommend this broker to anyone and advise anyone considering these scammers for cooperation to abandon such an idea. This is definitely a SCAM!!!
At first glance, this broker is not particularly different from many other companies. In fact, all of DiamondWhale's cool options are hidden inside. You'll find out about them after you sign up for an account. I haven't regretted once that I registered a brokerage account with this company. Several weeks have already passed since then, and my profits are growing. I made an initial investment in the amount of 450 euros, and then I added to the deposit two times 320 euros. Besides successful trading on diamondwhale.pro, I liked the management and call-center staff. They are nice people, friendly and polite. They treat every client with full respect. They helped me to find training materials, to set up a trading strategy, to understand how the trading platform works and how to configure even the most subtle parameters. I would like to note the excellent work of the platform. It's all about the fact that DiamondWhale has high-quality servers that allow it to execute trade orders without delays. I can't say anything about the withdrawal of funds yet. I haven't tested this function. However, the manager says that money is withdrawn here strictly according to the regulations and there are no delays. They do not take hidden commissions. Do not make you download additional documents. I will give only 4 stars for now :)) because of the information I have not verified.
I cannot call this brokerage company reliable and professional. DIAMONDWHALE absolutely does not look like a real forex intermediary, to whom I could trust my money and calmly trade currencies. Why is that so? Well, first of all, the official website. It is rather uninformative. In the “About the company” section I didn't see any information about the broker. Such sites do not skimp on advertising usually and on false promises to lure as many gullible clients as possible, whom they will cheat soon. However, as I understand it, DIAMONDWHALE is betting specifically on newcomers to trading, and especially those for whom they are having their first experience with CFD trading. They don't talk about liquidity. Why? Unknown. Then my next question is, where are the relevant legal entity documents. Where is the relevant license!!!? I also have questions about the site, where all trading conditions are not spelled out in detail - maximum spreads, margin conditions, detailed specification of contracts, indicators for margin call, for stop-out and so on. Where can I get this information? I have the feeling that DIAMONDWHALE aims to extract money from the client. However, I may be wrong. I don't know exactly how this company cheats people, but DIAMONDWHALE is a 100% scam. Has anyone already tried to interact with them in any way? What could be the catch on this site? Does anyone have any tips? I'm scared to just give my money to an obscure place. All the facts exactly say that you should not trust this firm in any way. Of course, you decide what to do with your money, but I would recommend you at least manage it competently and deposit it with a broker who will not cheat you, but will provide quality brokerage services and help you earn money in every possible way.