DiamondWhale Review: Trustworthy or Scam? 🔍

In our DiamondWhale review, we’ll discuss a broker that tries to present itself as a legitimate organization offering users advanced investment tools. However, it’s wise not to trust the generous promises of this organization too quickly, as several factors raise serious doubts about the legality of their operations. Knowing how to spot these types of scammers could be crucial for many beginner investors.

Is DiamondWhale a Trusted Platform?

The first and most critical factor in determining whether a financial organization is trustworthy is licensing. Regardless of the country they operate in, they should have at least a license for the country where they conduct business. Even the most lenient offshore jurisdictions require proper registration. While publishing license information isn’t mandatory in most cases, having a link to the registry or a license number on the website typically indicates a legitimate firm.

With DiamondWhale, however, you won’t find either. The site provides no information on licensing, and the “About Us” section skirts this topic entirely. There is no registration number mentioned, nor is there even a hint that the company is registered anywhere. Not even the country of its headquarters is disclosed. Every company requires registration to operate legally, even if just for formalities.

It’s possible that this company has some form of license, but verification is impossible due to the lack of any information. Thus, it’s safest to assume it simply doesn’t exist. Based on this, one could conclude that DiamondWhale is simply unregistered, and even if it conducts brokerage activities, it does so without a license.

Concerned About Withdrawal?

What is abundant, however, is information about various banks and services through which it accepts payments. There are over a dozen listed, including Raiffeisenbank, Spare Bank, MasterCard, VISA, CashU, and Union Investment. Unsurprisingly, an initial deposit is mandatory to access all benefits. Fortunately, the minimum deposit is relatively small compared to other projects — only $250.

How Long Does The Broker Work?

DiamondWhale hasn’t provided any information about its history, but WHOIS data reveals it has been around only since August of this year (2024). This suggests that this broker is likely insubstantial and lacks significant experience. It’s most likely a fly-by-night operation. Attention! This review belongs to InvestExpertHub.

Other Signs of Fraud

❗Naturally, there are few reviews. Most of them are positive, in video format on YouTube, with AI-generated voices reading the text. They also contain clear signs of falsification, ignoring all the issues we’ve pointed out, and they all appeared recently, from accounts with few other reviews, and with similar stylistic patterns. However, the tide is turning as more reviews and articles expose the scam.

❗Extremely high leverage for a regulated broker. No serious regulator would approve such a practice.

DiamondWhale Review Conclusions

DiamondWhale is nothing short of a trap for naïve investors. High fees, lack of licensing, and numerous customer complaints all indicate that this company operates outside the law. If you want to avoid becoming the next scam victim, steer clear of such “brokers.”

Advantages and Drawbacks

➕Many options for funding your account.

➕Starting deposits are only $250.

➖No license.

➖Lack of transparency.

➖No clear information on available tools.

➖High risk of losing money.

FAQ

Brief Conditions

Type	Forex
Location	❌
Establishment Year	2024
Regulation	❌
Customer Service	[email protected]
Languages	En, De, Es
Demo Account	❌
Mobile Trading	✅
Web-based Trading	✅
Bonuses	✅
Minimum Deposit	$250
Max. Leverage	1:500
Scalping Allowed	✅