DB Invest (brand DB Investing) Denounces False andDefamatory Articles by Wiki FX

DB Invest Limited, a reputable and regulated online trading broker, licensed since 2020 in Seychelles and with numerous offices world-wide, has recently been the target of false and defamatory articles by Wiki FX, a self-proclaimed forex media platform.

Wiki FX published two articles on its website on August 11 and 15, 2023, claiming that DB Invest Limited had “eaten all profits” and blocked the account of one of its clients, Mr Syed Muhammad Ali, a Pakistan citizen. Wiki FX also alleged that DB Invest Limited had returned the client’s funds only after he had sought Wiki FX’s help, and that DB Invest Limited had offered him a bonus in exchange for removing the negative article.

These articles were also replicated on Wiki FX’s social media accounts on Instagram, Facebook, LinkedIn, and Reddit.

DB Invest Limited strongly denies these allegations and asserts that they are based on fabricated and manipulated evidence, with the clear intention to harm its reputation and business.

DB Invest Limited has provided the following facts and proofs to refute Wiki FX’s claims:

• The client’s withdrawal was approved on June 5, 2023, more than two months before Wiki FX’s first article. The withdrawal was processed within the normal time frame and in accordance with the company’s policies and procedures (and the slight delay was caused cause the client refused to provide clarification about the destination of the withdrawal funds).
• The client deposited $500 and withdrew $417.26 (net commissions, gross withdrawal was $432.98). The company did not “eat all profits” as claimed by Wiki FX. Instead, the client’s account was used for scalping purposes to trigger a CPA (cost per acquisition) commission from the company’s IB (introducing broker) program. The client “lost” 82.74$ with the account, but at the same time, the “fake IB” behind the client, gained 500$ for the CPA. And for coincidence, both accounts also shared the same IP.
• The company NEVER offer any bonus to the client in exchange for removing the negative article appeared in WikiFX. The WhatsApp screenshot that Wiki FX used as evidence was fake and postdated. The company has no record of such communication with the client from the moment the funds left the client-trader account.
• The company had requested additional documents from the client before approving his withdrawal, as part of its compliance and back-office procedures. The client had tried to avoid submitting these documents until the last moment.

DB Invest Limited has contacted Wiki FX’s legal department and demanded that they remove the false and defamatory articles from their website and social media accounts immediately. But the WikiFX team NEVER replied up today. Maybe because up today, the DB Investing team NEVER replied to the weekly email received from the WikiFX team.

DB Invest Limited has also reserved its right to take legal action against Wiki FX for any damages caused by their malicious conduct.

WikiFX offer a service to “improving the brokers score on WikiFX “under payment of marketing services, where the payer brokers are able to “cancel” the comments and negative reviews (real or fake) and then, “get an high score”, what else is the client real reputation. In fact, Wiki FX promote and sponsor also non-regulated brokers, that (for a marketing payer reason) has also an higher (or double) score than an high regulated company, that didn’t sign any marketing deal with Wiki FX.

Wiki FX also paid some PRs to damage our company’s brand in Nigeria, with the following news websites like www.leadership.ng, www.tribuneonlineng.com, www.headtopics.com, it’s clear that someone behind WikiFX paid them to publish a fake article and then share it online to defame our company with fake allegations.

Wiki FX was, in the last years, already under target for their blackmails to the brokers that didn’t accept a marketing deal with them, online there is a long-lost article and negative comments.

https://fraud-hunter.com/en/wikifx-blackmails-brokers-and-writes-fake-reviews/

https://cy.linkedin.com/posts/ruslanabuzant_wikifx-blackmails-brokers-and-writes-fake-activity-6989195000941023232-EpOY

https://www.recoveryfraud.com/wikifx-com-exposed/

https://www.complaintsboard.com/wikifx-b158754/reviews

https://www.quora.com/Do-you-trust-the-brokers-reviews-from-WikiFX

https://www.reviews.io/company-reviews/store/wikifx-com

https://www.sitejabber.com/reviews/wikifx.com

https://www.reddit.com/r/Scams/comments/sfql5o/fake_broker_scam_wififx/

https://www.forexpeacearmy.com/community/threads/wikifx-protection-project-guards-investors-against-brokers-bankruptcy.61473/

Read the complete email sent from our legal team to Wiki FX on 23/08/23. They have not replied until the moment that this article was written:

Dear Wiki FX team,

It’s Andrew from the legal department of DB Invest Limited.

I’m writing to you and referring to your company’s defamation articles posted online in the last weeks, along with social posts

11 August 2023, 

Your article title is “Breaking: DB Investing EATS the investor’s profits and BLOCKS his account⁉️“

https://www.wikifx.com/en/newsdetail/202308103654295553.html

actually, the article is cancelled

But there is still an Instagram post online https://www.instagram.com/p/CvyrJswLzbm/

With this text in the body: “One investor called Ali recently told WikiFX that this broker “ate all profits” and blocked his account. And even worse, DB Investing charges extra money from the investor…“

plus added the tags like #forexscam #forexscammer #forexscammersexposed

15 August 2023, at 12.59

Your article title is “DB Investing Returns Investor Funds the Very Next Day After the Investor Seeks WikiFX’s Help“

https://www.wikifx.com/en/newsdetail/202308154314686757.html

For your reference, a PDF copy of the related article is attached to this email.

The same articles were directly replicated in your social accounts Instagram and LinkedIn:

https://www.instagram.com/p/CvyrJswLzbm/

https://www.instagram.com/p/Cv_VZDEM4f4/

https://www.linkedin.com/posts/wikifx-eng_db-investing-returns-investor-funds-the-very-activity-7097566918257115136-DJZv/

Your company wants to appear as the middle company that helped the complained client to get his withdrawal approved, thanks to WikiFX!!! after the first article that pops up on the 11^th of August 2023.

Nice Marketing Strategy!

It’s absolutely clear, that you, together with our ex-client, Mr Syed Muhammad Ali, (our client id 61512)clearly manipulated facts, with a postdated/fake WhatsApp chat, with the clear intention to defame us.

And here you read the full and true story with our real proof (and not a fake WhatsApp chat):

We are referring to this WhatsApp screenshot we suppose with the date of 11 of August 2023 (your first article date) or immediately after, where the client confirmed to receive the funds with other fake information like a bonus in exchange for removing the first article present in Wiki fx, dated 11 of August 2023.

Behind this mobile number +923114194008, there is Syed Muhammad Ali, Pakistan Citizen.

And following this fake WhatsApp chat complaint, you wrote a fake article and published it online with the clear aim to defame our brand without verifying the source of the information and ask for real proofs.

The client withdrawal was approved on the date 05-06-2023 at 18:32 Cyprus time, over 2 months before your article!!!! then not in August as you want to show online that we don’t approve client withdrawals OR we offer a bonus to cancel the fake article.

Also, the client deposited 500$ and withdrew 417.26$ (net commissions, gross withdrawal was 432.98$).

Attached you find the trading account 4034 screenshot AND the trading history CSV. The company NEVER EAT ALL PROFITS.

Instead, this account was used with the scam purpose to defraud the company a CPA together with the same accounts coming from the same IB, since almost all the trades where pur scalping just to reach the minimum lots required to trig the CPA into our system.

MrSyed Muhammad Aliis in CC in this email and can confirm the payment receipt below 

And here you can see the CRM history:

The client submits the withdrawal on the 30^th of May 2023, and approved on the 5^th of June.

And before the withdrawal date, our compliance and Backoffice department sent tons of emails, calls and tickets to requests some extra documents, and the client tried till the end to not submit at all.

Your article was replicated also here

https://www.facebook.com/story.php?story_fbid=149561531518844&id=100093949922479&locale=en_GB&paipv=0&eav=AfaRkwliU3gOzascPF8w7FAY1dEUB94oN5E4o-jWPh58-RA1oK7x8-CyAQlJehvTy6w&_rdr

https://www.reddit.com/user/rutecharts/comments/15s20xi/db_investing_returns_investor_funds_the_very_next/

And, for a coincidence, underpayment from your end with some PRs targeting Nigeria (where we have also our local office):https://tribuneonlineng.com/db-investing-returns-investor-funds-the-very-next-day-after-the-investor-seeks-wikifxs-help/,
https://leadership.ng/db-investing-returns-investor-funds-the-very-next-day-after-the-investor-seeks-wikifxs-help/
https://headtopics.com/ng/db-investing-returns-investor-funds-the-very-next-day-after-the-investor-seeks-wikifx-s-help-42545562

the website editor’s email is also in CC since our local lawyer in Nigeria will handle them directly too.
IT’s absolutely planned and clear your company intention to defame our brand together with the client and the IB behind the scenes.

Behind this fake defamation client account, there is a real scammer IB called “Sheikh Mohammad Akram Sheikh Mohammad Anwar“, you can simply google his name and see him online his fake affiliate business.

This IB scammed our company, opening accounts under nominee people from Pakistan or Bangladesh (that sell their identity for 30-40$) and scammed our company to get fake CPA, with scalping positions just to trigger our minimum lots requirements to pay the CPA.

Now, from the legal point of view, you published a fake article with fake proofs (just a simple fake WhatsApp message) to defame our company’s name and brand and without verifying your source.

But we can suppose that this was a simple mistake on your department’s side, maybe your Hamza employee is a direct connection and friend of this scam IB or the client Ali, and both of them pushed to post live a fake article just to defame us with your help.

Or maybe you used this fake information just to promote your brand to show your company as the best to get the money back, maybe because till now we haven’t accepted any of your marketing offers, since we are weekly bombarded by all your account managers. But this mistake will seriously damage our future marketing business relationship.

We’ll give your company and the client (in CC) 48h to delete all the fake information into your website articles and socials like Instagram, LinkedIn.

And the paid PRs your paid online.

If we’ll not see any action from your end, unfortunately our marketing department will proceed to disclose this private email, including bombard the web via PRs to protect our company and our brand, and also disclosing your company’s defaming strategy for those that are not your marketing partner. 

And this will damage your company reputation, that use fake information’s not verified at all, to defame other brokers not partners.And after that, a court will decide the amount of damages compensation caused by your website.
Btw, our company has a clear published name and jurisdiction.Which is the company behind your website, since you have an anonymous website without neither a clear Terms and Conditions?
Regards

Andrew Rashed
Legal Department
DB Invest Limited