DIYStocks: former clients’ reviews of the company’s performance in 2023.
Unreliability of a Broker with an Offshore License
If a broker holds an offshore license, it immediately raises doubts about its reliability. However, if a company even deceives about the existence of such a document, it is a clear sign of fraudulent activity. Let’s look at the example of DIYStocks. The company positions itself as a global broker, but user opinions suggest otherwise.
The Essence of DIYStocks
DIYStocks claims to be the fastest-growing broker. According to the company’s information, it has been providing brokerage services since 2015. However, even without verification, it is evident that such a statement does not correspond to reality, as the first reviews about the broker appeared quite recently.
According to whois data, diy-stocks.co was launched on February 22, 2023, confirming our assumptions. The organization misrepresented a significant experience in working in financial markets. Scammers have just started promoting their platform and aim to quickly grow their client base. This is also confirmed by reviews from deceived users.
According to claims, the project is overseen by a certain David Gorman. This person is a well-known figure, but there is no mention of him in relation to DIYStocks in his biography.
Legal Situation
DIYStocks is based in an offshore zone. The official website states that the company obtained authorization in the Republic of Vanuatu. A scan copy of the certificate issued by Credit Financier Invest Limited in 2020 is available.
The regulator’s registry vfsc.vu is available to the public, so we checked the broker’s provided information. The document number No. 700479 is not found in the regulator’s database. It is also unclear whether Credit Financier Invest Limited has any association with the discussed company.
DIYStocks operates illegally, so one cannot expect them to comply with agreements. Reviews from real users confirm this fact.
What DIYStocks Offers?
DIYStocks promises easy access to more than 100 assets, including indices, stocks, cryptocurrencies, and others. From the very beginning, scammers try to attract users, so do not expect a demo account. Their trick starts with a low minimum deposit (from $150).
- Instant order execution,
- Leverage up to 100:1,
- For deposits from $1000, a financial plan, insurance, trading in metals and cryptocurrencies are provided,
- The “Professional” tariff includes round-the-clock support and deposit protection.
Scammers thoroughly describe account funding methods (bank transfer, cards, electronic payments, cryptocurrencies), but there is no information on fund withdrawal. Commissions and financial operation rules are hidden. DIYStocks does not pay out funds, as confirmed by real user reviews.
Reviews and Activities of DIYStocks
DIYStocks does not deserve positive reviews, as it does not engage in fair cooperation with traders. The company hides its true intentions, and when users realize that it is a scam and try to reclaim their funds, their accounts are blocked. Read traders’ reviews, and you will see for yourself that dealing with this suspicious broker is dangerous.
DIYStocks Deception Methods
DIYStocks promises free education and quality support, but this is just a trap. Scammers are only interested in you to later deceive you for a large sum. Instead of cutting-edge technologies, a manipulated trading platform is offered, and recommendations from professionals will only lead to losses.
Attempts to recover funds from the account will result in the account being blocked. Scammers will not even explain the reasons for this decision, simply ignoring communication from cheated traders.
Conclusions on DIYStocks
With DIYStocks, you can lose your funds so quickly that you won’t even notice. The company does not even have an offshore license, and it has numerous issues with legal documents. So, it is evident: avoid this platform if you value your capital.