Diamond Global Ltd has been suspected as a scam broker. It operates under the brand name YesTrading is a brokerage firm that provides online currencies and CFDs trading services. The company is registered in the Marshall Islands, an offshore zone, and does not hold any authorization or license to perform financial services. Even though it is mentioned about many jurisdictions that are restricted to open a trading account with YesTrading.
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is YesTrading safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
YesTrading is a forex and CFD broker. The brand is owned and operated by Diamond Global Ltd., registered on the Marshall Islands.
Besides the fact that the company is registered offshore, they don’t any address. The only contact details are the Norwegian and Irish phone numbers, which means that YesTrading was targeting European residents, although it is not registered to provide financial services in Europe or any other country.
We recommend trading only with the brokers regulated by serious financial authorities. For obtaining an STP FCA license, the required capital for the broker to have is EUR 125,000. Also in order to get this type of license, the broker needs to have a physical office in the UK.
All clients of the FCA-regulated brokers are protected by the Financial Services Compensation Scheme.