Dear investors, we advise you to stay away from Diamond Capitals. It’s a questionable trading platform that we cannot recommend. Forget about those positive Diamond Capitals reviews you may have read on Trustpilot and other review platforms, suggesting that this trading platform is legitimate.
- Website: www.diamondcapitals.co. NOTE: This domain has since been removed. We suspect the broker is now using this domain: www.diamond-capitals.ltd.
- Email: [email protected].
- Telephone number: +41345087298.
- Location: Zürich, Switzerland.
Should they contact you to invest, please don’t agree to do so.
Here’s Why We Don’t Trust Diamond Capitals
We don’t recommend this so-called trading platform because of the following reasons:
1. The Swiss Financial Market Supervisory Authority’s Warning Against Diamond Capitals
Notably, Diamond Capitals is on the Swiss Financial Market Supervisory Authority‘s warning list of financial services providers operating in Switzerland illegally.
It’s important to note that a company that’s on the authority’s warning list not only operates without authorization but also either has not provided the required information or has provided false information.
Further, the authority may also enter a firm into its warning list if investigations reveal that the entity poses an imminent and considerable threat to investors.
In short, Diamond Capitals is an untrustworthy broker on the Swiss Financial Market Supervisory Authority’s warning list due to four critical issues.
- The company operates without authorization.
- It has either failed to provide the authority with the required information or has provided false information.
- The authority’s investigations reveal that it poses an imminent and considerable threat to investors.
- It has seriously breached supervisory regulations and subsequently been the subject of the authority’s ruling.
2. Sitejabber Exposes Fake Diamond Capitals Reviews
For starters, Sitejabber(sitejabber.com) is a platform that allows buyers and businesses to interact through online reviews.
Notably, the platform cautions that Diamond Capitals has been flagged for suspicious review activity. It warns that many of the reviews published on sitejabber.com look fake and are currently being investigated as shown in the screenshot below:
Similar to other scam brokers, such as Sadex Group, which operates under the domain “sadexg.com”, Diamond Capitals has paid unscrupulous authors to pose as satisfied customers and write fake reviews. Its aim is to create a false impression of customer satisfaction, a common deceptive tactic employed by fake brokers to lure unsuspecting investors.
3. Diamond Capitals Uses Stock Images As a Deceptive Tactic
The website(diamondcapitals.co) displays an image of a guy named “Manuel Cubero,” probably without his consent. It’s not hard to tell that the renowned cable industry veteran has nothing to do with this company.
Further, multiple other images can be seen on the website. Our investigations revealed that these photos were taken from Shutterstock, a stock photography website.
It’s important to mention that a website that uses stock images may not necessarily be a red flag. After all, many legitimate businesses use these images for various purposes, including website design and marketing.
However, it’s a significant red flag when an unregulated forex broker employs them. Remember, such a broker operates without oversight; therefore, nothing stops them from engaging in unethical practices. When you add the use of stock images, it amplifies the perception of deception and lack of credibility.
Have You Fallen Victim To Diamond Capitals Or a Similar Scammer?
To report the scam and seek help, go to this page. Or email [email protected].
Final Thoughts
To sum up, Diamond Capitals is a fraudulent trading platform designed to steal your hard-earned money.
The Swiss Financial Market Supervisory Authority’s warning against it is the first major red flag.
Its operation without regulatory oversight is the second big red flag. There are many potential risks associated with dealing with a broker that’s not subject to oversight.
The first risk is lack of investor protection. This leaves investors susceptible to financial loss.
The second one is the broker’s likelihood to engage in insider trading, price manipulation, and other unethical practices, which can harm investors in many ways.
For example, these fraudulent practices can mislead investors into making decisions based on inaccurate information. Further, they can deny investors access to factual information, putting them at an unfair disadvantage against their counterparts with factual information.
The third major red flag is the company’s use of stock images for deceptive purposes.
Finally, the fourth big red flag is the fake Diamond Capitals reviews. A lot of unscrupulous authors have been paid by the company to pose as satisfied clients and write false reviews.
Diamond Capitals FAQs
1. Is Diamond Capitals’ supposed physical address in Zurich, Switzerland real?
Answer: It’s probably fictitious. Otherwise, the guys behind it would have been arrested by now.
2. Who are the individuals behind the Diamond Capitals scam trading platform?
Answer: Honestly speaking, the creators of this dubious system remain anonymous.