General Information
BlackDiamondSwiss is allegedly a broker based in Australia, authorized and regulated by the Financial Services Authority, claiming to provide its clients with flexible leverage up to 500:1, low spreads, and a variety of tradable assets with four different account types and a web-based platform called Activ8.
Market Instruments
BlackDiamondSwiss advertises that it mainly offers five different classes of trading instruments in financial markets, including forex, commodities, indices, stocks and cryptocurrencies.
Account Types
There are four live trading accounts offered by BlackDiamondSwiss, namely Bronze, Silver, Gold and Black. Opening a Bronze account requires the minimum initial deposit amount of €10,000, while the other three account types with the much higher minimum initial capital requirements of €20,000, €50,000 and €100,000 respectively. The minimum lot size is 0.1, 0.5, 1 and 1.5 separately.
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00,000 respectively. The minimum lot size is 0.1, 0.5, 1 and 1.5 separately.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Bronze account can experience the leverage of 100:1, the Silver account can experience the leverage of 200:1, the Gold account can enjoy the leverage up to 300:1 and the Black account with a maximum leverage as high as 500:1. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads
The spread we saw in the trading platform for EUR/USD was floating around 0.5 pips.
Trading Platform Available
When it comes to trading platforms available, instead of the industry-standard Metatrader4 and MetaTrade5, BlackDiamondSwiss gives traders a web-based platform called Activ8, available for the Web, Android and iOS terminals. With the Activ8 mobile app, trading can be done from anywhere and at any time through the right mobile terminals.
Deposit & Withdrawal
From the logos shown at the bottom of the home page on BlackDiamondSwiss official website, we found that this broker seems to accept payment methods including Wire Transfer, VISA, MasterCard and OK PAY. When we attempted the deposit functionality, however, there was a warning that our documents have not been verified. The minimum deposit requirement is €10,000, while the minimum withdrawal amount is $50. Note that the broker will charge a withdrawal fee of $30.
Fees
Also, BlackDiamondSwiss will charge a dormant account fee. If there is no activity on the account, it becomes dormant and will be charged an inactivity fee of $100 every three months.
Customer Support
BlackDiamondSwiss customer support can be reached through phone: +442037693116, Whatsapp: +447405313408, email: support@blackdiamondswiss.com. Company address: GERRINGONG NSW 2534.
