AddyFX Review – Why Your Funds Are Not Safe With This Broker

As of May 2023, AddyFX has ceased operations. But you can read the article to avoid falling for similar scammers.

Updated April 2022

AddyFX was renamed AddyFinance & Investment Limited and registered with the SEC of Nigeria. They also removed the shady investment plans they had on their websites. I discuss this in my review. AddyFinance stated that they were not involved in any dealings with AddyFX LIMITED and that the Company (ADDYFINANCE & INVESTORS LIMITED) is not liable for any loss or damages resulting from any dealings with any staff, entity, or representative bearing ADDYFX Limited.

This review was valid for AddyFX when it was published. We don’t know anything about AddyFinance & Investment Limited.

What is AddyFX?

Many people have asked for an AddyFX review. However, it’s difficult to find out what the company is all about when you visit their official website.

AddyFX states only that it seeks financial sustainability. However, if you look closely, you’ll find that the company offered investment plans.

At first, there were 4 plans that offered returns between 13% to 25% per month. The minimum deposit required was $300. The company gradually reduced their plans and returned, but now they have removed them from their website.

How can AddyFX achieve monthly returns of up to 25%? Thanks to Forex markets investing. They claimed that they have experienced traders who can help you achieve this. They can’t, however.

Scammer at AddyFX

We are fairly certain that AddyFX is a fraud, even though it isn’t clear exactly what is going on with them since they removed their investment plans.

It is impossible for legitimate investment companies to make 13% to 25% per month in Forex trading. A legit investment fund that makes 25% per year will be considered exceptional and will be ranked among the top in the world.

It is possible to live on 25% per month. This is how easy it is to evaluate an investment opportunity.

If you could make 25% per month, that would mean you could multiply your money 19x in a year if you reinvest profits and take advantage the compounding effect. This would make you a millionaire very quickly.

AddyFX does not provide any proofs about trading results and doesn’t disclose which brokers it uses to invest. An audited investment report from a legitimate company will be provided to you so you are certain about what you’re investing in.

Non regulated

Although we aren’t very familiar with Nigeria’s financial regulations, we know that investment service providers must be registered and authorized by the Securities and Exchange Commission.

You will discover that AddyFX does not have a license when you do a search on the SEC site. This means that AddyFX is illegally providing investment services. This conclusion is supported by the fact that AddyFX Limited does not provide any information on licenses or authorizations on its website.

One thing is certain: AddyFX has no regulatory status outside Nigeria, so it cannot seek clients in other countries.

How AddyFX works

AddyFX was founded in 2019 and the Royal plan offered a 25% monthly return. This plan was later removed and replaced by the Golden plan with 20% monthly profits. They removed all plans from their website.

First, regulators began to look at them. They made them hide all that could make them appear like an investment service because they don’t have a license.

It is likely that AddyFX operates as a Ponzi scheme, which must manage slow deposits by reducing monthly returns.

Ponzi schemes take money from younger members and then give it to the older members. They promise profits but they require a steady stream of deposits to make it work. Otherwise, everything will dry up and fall apart.

AddyFX is not yet in collapse, but it appears that it is at the end of its Ponzi scheme lifecycle. It will likely crash soon. It is not just possible to avoid it, but all of its consequences.

Ponzi schemes are attractive because they promise to pay the promised profits for a certain time. You must realize that these Ponzi schemes are just illegally moving money between people. They don’t do any real trading and they don’t make real profits.

Even if you do manage to make some money from such a scheme you should be aware that there will still be many people who were scammed. Ponzi schemes are not for everyone. The majority of people must be conned in order to make money.

What is a chargeback?

Chargebacks are a way for your bank to recover funds from the merchant. We recommend that you contact us immediately to begin the process. We will have a free consultation to discuss how we can recover your money right away!

AddyFX: Video

Below you will find a short video about AddyFX. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about AddyFX!