DBInvesting and NewFX Scam (2024)

NewFX
DBInvesting and NewFX have received allegations of being major scams. Find out if you can trust them or not in this Gripeo review.
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Investors are cautioned by the Spanish regulator CNMV not to deal with the unlicensed broker NewFX, as it is a fraud. The broker offers many companies as the operators on its website, www.newfx.co. First up is BIG HORIZONS Limited, followed by NEWFX Limited. DBFX Limited has also been named as one of the operators by the CNMV. In October 2020, the Italian Consob halted the DBFX Trades scam, which was also run by this identical legal business. Praxis Cashier has been involved in and continues to be involved in this series of scams.

We discovered Amit Klatchko’s Praxis Cashier, a payment processor that accepts credit and debit cards, PayPal, and Jeton. Praxis Cashier is one of the top PayTech scammers, along with Ran Cohen’s BridgerPay. Based in Limassol, Cyprus, BridgerPay and Praxis Cashier work directly with primarily Israeli investment organisations.

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The unlicensed broker DBinvesting (www.dbinvesting.com), run by DB Invest Ltd. and licensed by the Financial Services Authority Seychelles (FSAS), is the same as the NewFX fraud in terms of payment templates. The business is not, however, permitted to offer regulated financial products in the UK, Europe, or under any other regulatory framework thanks to this offshore licence. Up until the end of 2020, DBinvesting Limited, an offshore division of Belight Capital Group Ltd., a company regulated by the CySEC, managed DBinvesting. This former offshore organisation was under the Vanuatu Financial Services Commission’s (VFSC) jurisdiction.

It is evident that DBFXtrades, DBinvesting, and NewFX are interconnected. They appear to be run by the same boiler rooms and are nearly exact replicas. Praxis Cashier has also assisted with the three scams.

Furthermore, Leverate has integrated all three brokers onto its Sirix platform.

About NEWFX

The American Funds New World Fund is categorised by Morningstar as a diversified emerging markets fund, which implies that its managers mostly invest in stocks of developing market companies. Businesses established in these nations frequently have better development possibilities, but they also run the risk of being negatively impacted by political or economic upheaval.

“American Funds New World is unlikely to top the charts when emerging markets are at their best, but it should outperform through a market cycle by losing less in downturns,” Morningstar says of the fund.

The fund had around $49.76 billion in assets as of November 27, 2023, spread among 587 distinct holdings.

The top holdings of the fund are in HDFC Bank, AIA Group, Taiwan Semiconductor Manufacturing, Samsung Electronics, and Alphabet.

As of May 2017, the fund, according to Morningstar, is ranked in the following percentiles for its category: 75th for the previous 12 months, 36th for the previous three years, 11th for the previous five years, and 13th for the previous ten years.

Normally, the fund charges a 5.75 percent front-end sales load, meaning that of every $10,000 invested, $9,425 goes toward investments, and the remaining $575 is allocated to commissions. This is on top of an expenditure ratio that Morningstar considers low, at 1.07 percent. A $250 minimum initial deposit is needed to access the fund.

The fund is available in a number of share classes from American Funds, including ones that are only available in 529 accounts and retirement plans.

For the preceding three, five, and ten years, Morningstar rates the fund’s risk as low in relation to other funds in its peer group. In comparison to the fund’s peers, the level of return is judged to be average over the previous three years, high over the previous five years, and above average over the previous ten years.

By comparison, the benchmark’s allocation to non-US equities was nearly 100%, while the fund’s was approximately 69% as of March 31, 2017. nearly 14% of the fund’s assets were allocated to American stocks, compared to nearly none for the fund’s benchmark.

The past year returns for the fund have been 10.50 percent, the past three years have been 0.06 percent, the past five years have been 5.75 percent, and the past ten years have been 3.98 percent.

June 1999 saw the fund’s inception. The parent business Capital Group serves as American Funds’ advisor. The organisation provides investing options to high-net-worth individuals and families, institutions, consultants, and others in addition to mutual funds. Across all of its strategies, the company has nearly $1.4 trillion under management as of December 31, 2016.

What is Praxis Cashier?

Praxis Cashier supports the majority of card issuers and integrates with nearly all PSPs. Praxis Cashier handles payment processing without the need for a third-party processor, unlike other alternatives. With the help of this program, you may take payments from any major credit card company and accept a wide range of payment options.

What is DBFX

DBFX is a broker and platform for financial trading. established in 2010

After more than 14 years, DBFX currently provides Forex, commodities, indices, stocks, cryptocurrency, and CFD trading services to over 2,000 retail clients.

Because they are prohibited from operating in certain important geographic areas, DBFX is not a worldwide broker. The headquarters of DBFX are in Vanuatu.

It can take a lot of time to discover a broker that can suit your expectations when trading in the financial markets.

We will examine the DBFX platform in-depth and evaluate its effectiveness as a global multi-asset trading platform for traders in 2024.

visiting a variety of broker websites, each with a unique language use. With brokers like DBFX, technical jargon and terminology might be perplexing. It can take a while to select or shortlist a trading platform such as DBFX. Selecting a trading platform necessitates extensive investigation and evaluation. Understanding all of the features and advantages of each platform can be difficult, particularly with a complicated trading platform like DBFX.

Because of this, choosing the best trading platform, such as DBFX, necessitates a thorough comprehension of trading tactics, the market, and platform functioning. With so many online brokers like DBFX available, each with its own features, costs, and restrictions, the task gets much more difficult.

Finding a dependable and trustworthy broker like DBFX necessitates serious thought and extensive due investigation in such a complicated market. When utilising the DBFX online trading platform or trading on a mobile device, some of the trading tools can be complicated. It is important for novice and inexperienced traders to take their time learning how to use the DBFX trading tools. In our analysis of DBFX, we list the benefits and drawbacks. What DBFX has to offer and the nations where it’s accessible. And more on who regulates DBFX.

Wind UP- Is DBFX safe?

The financial regulatory status of DBFX in your area is an important consideration when selecting it for your trading activity. Examining the administrative body and regulatory standing of a broker, like DBFX, is one of the most important factors to take into account. Investors may be at danger since brokers operating without oversight from a regulatory body are allowed to set their own regulations. Your entire investment is in danger.

DBFX was founded in 2010 and has been operating for 14 years, with its headquarters located in Vanuatu.

DBFX is subject to regulations. This indicates that DBFX are subject to oversight and conduct checks by the regulatory agencies of the Cyprus Securities and Exchange Commissions (CySec).

Requests for DBFX withdrawals will be fulfilled. Strict rules that forbid them from manipulating market prices to their benefit apply to brokers that work under the supervision of regulatory bodies such as DBFX. By ensuring that brokers act with honesty, equity, and openness, regulatory supervision protects investor funds. DBFX are responsible for their conduct, and breaking any financial restrictions could have dire repercussions. You may be confident that your request to remove money from your account will be handled quickly if you are a client of DBFX. DBFX is known for its quick and dependable fund transfers and for abiding by the regulations set forth by the financial authorities over whom they are controlled. 

When you file a withdrawal request, DBFX will check the information in your account and process the payment in the allotted period, which is typically a few business days. You can focus on your trading and have peace of mind when you work with a reliable broker like DBFX. DBFX may lose its regulated status if they break any regulations.

DBInvesting and NewFX Scam (2024)
DBInvesting and NewFX Scam (2024)

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