Overview of Diamond Road
Diamond Road, headquartered in New York, USA, is a significant player in the global financial market and ranks among the top 50 largest financial services companies in the United States. Diamond Road offers a wide range of over 110 tradable assets including forex, precious metals, crude oil, indices, and cryptocurrencies.
The company provides various account options such as Comprehensive, Finance, and Financial STP. While details about leverage and minimum deposit are not specified, Diamond Road boasts competitive trading conditions with spreads starting from 0 pips on its Tradingweb platform. Customer support is accessible through live chat, email at support@diamondroad.net, and Line.
Is Diamond Road Legit?
Diamond Road is not regulated by any authorities.
Pros & Cons
Pros:
- Wide range of trading assets: Diamond Road offers a wide selection of trading assets, including forex, precious metals, crude oil, indices, and cryptocurrency. This variety enables traders to explore different markets and diversify their investment portfolios according to their preferences and risk tolerance.
- Regulated by the FinCEN: Being regulated by the Financial Crimes Enforcement Network (FinCEN) ensures that Diamond Road adheres to stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory oversight promotes transparency and accountability, fostering a secure trading environment for users.
- Multiple account types: Diamond Road offers a variety of account types tailored to suit different trading preferences and strategies. Whether users are beginners or experienced traders, they can choose from various account options with different features and benefits to meet their specific needs.
Cons:
- Lack of educational resources: Diamond Road lacks comprehensive educational resources to assist traders in learning about financial markets, trading strategies, and risk management. This limitation could hinder the development of traders' skills and knowledge, especially for those who are new to trading.
- No info on leverage and minimum deposit: Details regarding maximum leverage and minimum deposit requirements are not provided by Diamond Road, leaving these key trading conditions unspecified.
Market Instruments
Diamond Road offers a robust selection of over 110 tradable assets, tailored to meet the diverse investment needs of its clients. The platform provides access to a wide range of foreign exchange currency pairs, including major ones like EUR/USD, USD/CAD, GBP/USD, and USD/JPY, allowing traders to capitalize on fluctuations in global currency markets. In addition to forex, Diamond Road offers spot trading in precious metals such as gold (XAUUSD) and silver (XAGUSD), which are popular for their stability and investment value. For those interested in commodities, US crude oil (USOIL) trading is available, providing opportunities linked to energy market dynamics.
The platform also includes trading in major indices like the Nikkei Index (N225), German Index (GER30), and S&P 500 Index (US500), enabling clients to engage with broader market trends. Furthermore, Diamond Road caters to the growing interest in digital currencies by offering trades in popular cryptocurrencies such as Bitcoin (BTC/USD), Ether (ETH/USD), and Ripple (XRP/USD).
Account Types
Diamond Road offers multiple account types to accommodate various trading preferences and strategies.
The Comprehensive account type is suitable for traders interested in Contract for Difference (CFD) contracts. This account features a proprietary composite index designed to replicate real market movements, allowing users to engage in CFD trading around the clock. With access to a wide range of CFDs, traders seeking comprehensive market exposure may find the Comprehensive account suitable for their needs.
The Finance account type is tailored for traders looking to access various financial markets, including forex, commodities, and cryptocurrencies. Offering both standard and microtransactions with high leverage, this account enables users to trade large or small positions across a wide range of asset classes. Traders seeking flexibility and a broad spectrum of trading opportunities may find the Finance account appealing.
The Financial STP account type is ideal for traders focusing on currency pairs and seeking optimal trade execution. With options to trade major and minor currency pairs, as well as markets with smaller spreads, this account serves traders looking for competitive pricing and efficient order execution. Traders prioritizing liquidity and tight spreads may find the Financial STP account well-suited to their trading objectives.
How to Open an Account?
Opening an account with Diamond Road involves the following concrete steps:
Step 1: Visit the Diamond Road website: Begin by accessing the official Diamond Road website through a web browser.
Step 2: Click on “Register”: Look for the “Register” button prominently displayed on the homepage or in the navigation menu.
Step 3: Fill out the registration form: Provide the required information in the registration form, including your name, email address, mobile number, password, country, gender, address, captcha, referral, and images of ID card.
Step 4: Verify your email address: After submitting the registration form, check your email inbox for a verification message from Diamond Road. Follow the instructions provided in the email to verify your email address.
Step 5: Complete identity verification: Proceed with the identity verification process as instructed by Diamond Road. This typically involves uploading copies of identification documents, such as a passport or driver's license, to verify your identity.
Step 6: Fund your account: Once your identity verification is successfully completed, you can fund your account using the available deposit methods provided by Diamond Road. Follow the instructions to deposit funds into your trading account and start trading.
Spreads & Commissions
Diamond Road boasts competitive spreads, with rates as low as 0. These tight spreads are advantageous for traders as they signify minimal price differentials between the bid and ask prices of assets, reducing trading costs and potentially maximizing profits.
Trading Platforms & Tools
The trading platform offered by Diamond Road utilizes Tradingweb, which is recognized as one of the prominent online trading platforms globally. Tradingweb is well-regarded for its extensive array of chart analysis tools, boasting over 50 technical indicators and intraday analysis features. These tools empower traders with comprehensive insights into market trends and patterns, facilitating informed decision-making.
In collaboration with Goldman Sachs, a respected analysis agency, Diamond Road enhances its offering by providing award-winning automated investment analysis and research tools. These tools, including the Adaptive Candle Diagram (ACD) and Adaptive Trend Indicator (ATI), equip traders with additional resources to refine their trading strategies and optimize investment decisions.
Customer Support
Diamond Road is committed to providing exceptional customer support, available 24/7 to assist clients with any queries or issues they may encounter. The support team can be reached through various channels including live chat, email at support@diamondroad.net, and Line. Additionally, the company's physical presence at 7th Street 40 E 7th St, New York, NY 10003, USA adds an extra layer of accessibility and reassurance for clients seeking assistance.
FAQs
Is Diamond Road regulated?
Yes, Diamond Road is unregulated.
What trading assets are available on Diamond Road?
Diamond Road offers a wide range of assets, including forex, precious metals, crude oil, indices, and cryptocurrency.
How competitive are the spreads on Diamond Road?
Diamond Road says to offer competitive spreads as low as 0 pips
