AddyFX review – this has to be a SCAM [see why]

AddyFX review

This review analyses the investment service provided by AddyFX. We believe it is a scam and we explain why.

Update April 2021

AddyFX got a new name – AddyFinance & Investment Limited – and got registered with the SEC in Nigeria. Also, they removed their shady investment plans from their websites, which I talk about in this review. AddyFinance distanced themselves from AddyFX by saying: “Please beware that any dealing(s) done with ADDYFX LIMITED shall be at the clients’ peril and the Company (ADDYFINANCE & INVESTMENTS LIMITED) shall not be held liable over any loss(es) and/or damages as a result of any dealing(s) with any staff, entity or representative bearing ADDYFX LIMITED henceforth.”

The review below is valid for AddyFX at the time it was published. We do not know or say anything about the new entity AddyFinance & Investment Limited.

What is AddyFX

We’ve received a lot of requests for an AddyFX review, but when you check the official website of the company, it is difficult to know what it really is about.

AddyFX only states that it wants to provide financial sustainability. But when you dig deep, you will find that the company was publicly offering investment plans.

Initially there were 4 plans with returns between 13% and 25% monthly. With the minimum deposit being $300. Over time the company reduced the plans and returns, now it seems they removed them completely from their website.

How is AddyFX supposed to achieve up to 25% monthly returns? Thanks to investing in Forex markets. They said they have experienced traders and managers who will achieve just that for you. But can they?

About AddyFX

AddyFX scam

It is not entirely clear what is happening right now with AddyFX since they removed their investment plans from their website, but we are pretty sure that it is a scam.

The reason is that making 13% to 25% monthly in Forex trading is something impossible for a legitimate investment company. If a legit investment fund makes 25% in a year, it will be considered extremely good, it will be among the best in the world.

25% monthly really is utopia. It really is that simple to assess an investment opportunity like this.

Should 25% monthly be possible that easily, you would multiply your money 19 times in a year, if you reinvest the profits and take advantage of the compounding effect. That would generate millionaires pretty quickly.

AddyFX doesn’t explain what brokers it uses for investing, it provides no proofs whatsoever about its trading results. A legit investment company will provide you with audited investment results so that you can be sure about what you’re getting into.

Investment plans

Not regulated

We are not very familiar with the financial regulation in Nigeria, but from what we gather, investment services providers have to be authorized and registered with the Securities and Exchange Commission.

When you make a research on the SEC website, you will find that AddyFX has no license. This leads us to the conclusion that AddyFX is providing investment services illegally. Another fact that supports this conclusion is that AddyFX Limited provides no information about any license or authorization on its website.

What is certain is that AddyFX is not regulated anywhere outside Nigeria either, which means that it can’t seek clients in any other country.

How AddyFX works

When AddyFX started back in 2019, the highest Royal plan had a 25% monthly return on investment. Later than removed this plan and the highest one was the Golden one with 20% monthly profits. Now they removed all the plans from their website.

The first reason for these changes can be that regulators started looking at them, so they had to hide everything that makes them look like an investment service, because they have no license.

The reduction of monthly returns is also probably telling that AddyFX is operating as a Ponzi scheme which has to manage slowing deposits.

Ponzi schemes just take money from newer members and give it to older members. Since they promise profits, they need a growing volume of deposits, otherwise everything will dry out and collapse.

If AddyFX has not collapsed yet, it seems that it is in the final stages of the Ponzi scheme lifecycle and will crash soon. You don’t want to be anywhere near it not only when it happens, but ever.

We know that Ponzi schemes can be attractive, because they often have a period of time when they pay the profits they promised. But you have to realize that they are just moving money between people in an illegal way, they do no real trading, they don’t generate real profits.

Even if you manage to pull some profits out of such a scheme, you have to know that you will leave a lot of scammed people behind who got in too late. There is no way for everybody to profit in a Ponzi scheme, the majority has to be scammed in order for a few people to make money.

AddyFX review – the conclusion

Based on the investment plans that were public not so long ago, it is clear that AddyFX is an investment scam that has nothing to do with real profitable Forex trading. Stay away from it.

If you want to try legit Forex or any other financial trading, do it with a regulated company and start on a free demo, so that you don’t risk your own money when testing and learning.

If you later decide to trade with real money, be sure to understand the risks and use only money you can afford to lose.


300 USD



Investment plans







  • Brief presentation


  • Impossible investment plans
  • Not regulated
  • Not providing enough information
Please share this review to help warn other people

Comments 166

  • Currently they work with a app addyflex which can be gotten from iOS store or google store and I was planning on joining them base on the fact they are working on their license with sec. I contacted the insurance company they claim to be insured with, though the aiico insurance didn’t deny them been a client but they said the insurance they have with them is a fidelity guarantee cover which was gotten as part of sec requirement for their license and it’s not in anyway a guarantee for investors fund wen dealing with them. With the information gotten so far from my own due diligence I am ready to test the water with something I can afford to lose base on the fact they are trying to be legal and they are in the final phase Of been licensed. I hope they get it but let’s watch and see.

  • I have an investment with Addyfx and they paid me today as the due date. I intend upgrading my investment, should I hold or continue?

  • I’m certain the idiots behind this site must be the most frustrated the 21st century has ever seen.
    Where in any of AddyFx’s content have you ever seen a 25% investment plan???
    You claim to conduct due diligence, but fail to produce substantial facts, instead you spill baseless rubbish.

    I’m an avid investor with them since last year, and I (and I believe many other satisfied beneficiaries) have been receiving consistent returns as their slogan states. Besides the Forex trading subsidiary, they are also actively into Agriculture and Agro-allied operations (AddyGreen), Real Estate investments (AddyHomes) and their budding logistics firm (AddyLogistics), and I won’t forget to include their impressive CSR activities since inception; so I wonder the extent and source of your baseless remarks. It’s so sad to realize that some online elements just try to peddle false information just for cheap clout and website traffic/SEO presence gains, to the detriment of many honest financial/capital start-ups. Many individual traders make more than 30, 40 or even 50% in FOREX trading, and besides, verifiable inside information revealed that the firm passed their final SEC top management interview recently and the information will be made official as the first SEC-licensed International Foreign Exchange Market Investment company in Nigeria. Before now, they already got a SCUML-exemption certificate from EFCC (how the hell do you think they would have been able to operate corporate accounts???). If top branch managers, investment bankers and even some staff of crimes commission parastatals can actually subscribe to their investments, then what else??

    Inside information revealed that the site has been undergoing thorough content restructuring as part of SEC’s registration requirements, with the intent on upscaling into an Investment and Portfolio Management firm. Unless you’re not financially informed, sound portfolio diversification and balanced risk-averse asset allocation can comfortably give you better returns with expert investment analysis and financial management skills and sound decision-making, which I believe their team possess.

    Look, it’s obvious you’re oblivious to the trends in the financial sector. I think we need to set frustrated fools like you as an example, for others who constitute online nuisance.

    THIS SITE MUST GO DOWN for defamation of a corporate entity!!!


    • “Where in any of AddyFx’s content have you ever seen a 25% investment plan???”
      You just revealed that you did not even read the review.
      Also, this is what I always hear from scams: we will be regulated, we will have a license…
      So yeah…

      • Your review wreaks of 25% from top to bottom. AddyFx has always been known for investment plans ranging from 10 – 20%.
        You claim to be a scam review site, but fail to probe deeper to obtain facts. Instead, you feed off information from comments to provide weight to your next content.

        Whether you like it or not, AddyFx has come to stay. You can keep misleading the public all you like, but the gavel will fall on you very soon.

        Visitors to this page can absorb your false information at their own risk.

        P.S: A criminal defamation and Libel suit should be filed against the admins of this site, as stipulated in section 373 of the Criminal Code.

        • Again, you did not read the review. Because yes, I speak about 25%, but I also prove that this was the offer of AddyFX. But you did not care to read the review, you are just an affiliate of AddyFX whose job is to discredit any negative review.


          As at August 2019, the Royal Investment plan was stated to give 25% ROI monthly for an investment of $25k and above.
          I posted a link to an archive of their site at that time.

        • Which country ? cc 373 ? just wondering why these Financial Geniuses and banks have NO addresses ? NO Liability Insurances? ZERO INVOICES ? Hiding behind poboxes? and PRE_PAID “FOR EVER” envelopes from poboxes ? All Rights Explicitly Reserved (c) Without Recourse 2021-02-15 1320:28

      • What about the other subsidiaries?

    • Well concerning the SEC I try to check addyfx, but not found.Can you share more light on this.

      • AddyFx Limited recently passed the pre-qualification exams for potential capital market operators (CMOs) by the Nigerian Capital Market Institute (NCMI), a body under SEC’s authority. This is an advanced stage to obtain the license. The firm expects the license to be issued anytime soon, hopefully at the start of the new year.

        • Can you provide any proof?

        • Hi, I am a lawyer familiar with the SEC licensing and registration processes and I can tell you for free that ADDYfx is a Ponzi scheme as this writer has rightly informed you. The publication via @Addyfx_au twitter account was a response to a recent publication by SEC warning people from participating in unlicensed investments which ADDYfx is one of. That was why they quickly rushed. Why did they not mention the names of the claimed “senior management” staff who passed the pre-qualification exams? Again, the requirement of licensing for investment companies is before they commence operations not after. What ADDYfx is referring to is not a license for its company, it is referring to people becoming capital market operators. This does not regularise it’s illegal position but was a move to restore confidence of its victims. The truth about schemes like this is that the victims will argue until it fails. It was exactly how MMM destroyed millions! You have been warned! Also know that the company has PR operators who come on these kind of sites to counter the truth so that victims will not have a rethink. In the end it’s your money you stand to lose! 20% monthly ROI is impossible to sustain anywhere! Read the terms of the ADDYfx investments. You are promised 20% ROI, but if you chose to liquidate the investment before it’s tenor, you get penalties of 30% of the invested amount and charges. This discourages alot of investors from liquidating. Now if you’re not liquidating, it means it will take 5 months of receiving returns for you to have gotten up to your initial capital (without any profits). 5 months is along time for anything to happen. Essentially in the first 5 months, they have been giving you your money back in small portions, but because you see the money monthly as ROI, you advertise the scheme to your friends…and so the Ponzi scheme grows!

          • Thanks for this. People get excited about receiving ROI’s ( which is really your capital every month in small doses) but I have not really seen anybody who got their capital back at the end of the month PLUS the ROI’s promised.
            If anyone is reading that has gotten their capital back, please comment.

          • Thank you Oliver Osagie.

          • I have investment in this company since 2020 and have been receiving my Returns in investment. . By the period my investment ended my last month
            return on investment and my capital were returned to my account. I have upgraded my investment and reinvested. I have introduced more people and they have been enjoying their returns also, no one of them ever complained. Addyfx is ligit. God will continue to uplift and protect them.

          • Where did I hear the same thing? Right, with Pennywise…

          • I deeply appreciate this enlightenment. That was my initial thought, “why penalise one who wants to opt out from an invest by deducting 30% of their money?”, it doesn’t make any sense. And their T&C also is scary and discouraging. I wanted to invest 1M last, which half wasn’t my money. I really got discouraged cause i remembered MMM, and I felt this is synonymous to it. Any investment that do not protect the core interest of it clients and investors isn’t a good or promising one.
            Their lincence by AIICO how trustworthy is it, cause we have various forms of insurances. So Addyfx should be transparent to it potential investors. I really want to invest, cause I have people’s money as I’m trusted to keep them.

          • Mr Lawyer, the company is SEC registered. Check SEC website.

            Moreover, you can be sued for spreading false information by calling the company a Ponzi scheme.

          • AddyFX is not SEC registered.

      • Addyfx is now sec satisfied,it will be added to our portfolio soon

    • This is loud. You did your research well on them.
      I’ve moved passed what the site said to what you are informing ME.
      My friend told me about it and she’s into it.
      Here’s my email address: I’d like more directives.

    • Apt. I love this response. Thank you for giving me back my confidence that this post was almost shaking in its foundation.
      If investment doesn’t bring huge profit, how come we have people like Jeff Bed and the likes making so much money from investments? Is it by buying and selling beans? Mcheeew.

      On a closer look, the owner of this website and the post does not even reside in Nigeria. That is why all he could do was study the Addyfx website, find fault with it and draw conclusions from there.

  • All the findings by this site is baseless,pointless and should not be utilized by anyone who want to upgrade his earnings.

    In saner environments, defamation of character is a civil wrong and the consequence is heavy damages.

    Stop misleading Nigerians.

    • You come to attack me, but you did not mention one single thing that is wrong in my review according to you.

      • You are very wrong. Since inception, Addyfx has operated on 10%-20% maximum ROI. Where the hell did you come up with your 25% claim. I invest with them and have never been disappointed in their service for once. Its good to have a review like this but pls try get your facts right cos you almost scare the hell out of me untill i discovered your facts were fabricated. Addyfx may not have all the licence yet but i m sure they are working on it. I m an investor and i m open to constructive reviews, cos that will put us investors on our toes, to be careful but on this article, its a total garbbage.

  • But you didn’t address Myke John’s argument…

    • your comments are terrible. if you are speaking for the addyfx, you don’t need to rain all sorts of abusive words on someone that is helping the public to dig out info about the company.we are talking about people’s funds here not stones and sand. pls be polite with your words

  • Do not be bothered James, it’s normal that staff of a company will always come online to discredit negative reviews on their business

  • You need a scam site to tell you whether to hold or continue?…

    Addyfx has so far been heading in the right direction, AIICO insured and is duly registered under SEC.. Dont mind this bogus rubbish this person has written here… Addy is here to stay

  • Basically, I have done my personal reviews on them and I think I am well pleased with their high level of responsiveness and professionalism.
    Apparently, they might not be able to get all the regulatory requirements at once, but they are putting their best to provide all the necessary requirements. In fact, for the first time our indigenous company is trying to maintain a clean slate in the area of Fin-Tech, sincerely, all we need to do is to support them and not by pulling them down.
    Honestly, when I checked the Profile of their employees on LinkedIn, I was highly impressed with the level of financial experts and responsible set of individuals I saw on their profile. Let us support them and encourage this business to grow.
    Moreover, I saw that they just collaborated with Proficient Capital to disburse loan to small scale Business, also, they are participating in Corporate Social Responsibility and they have other arms of business activities like Agriculture, Logistics, Training Academy and Real Estates. Let us verify all these their business involvement, before we tag them bad.
    If we want better Nigeria, some people must stand up and change the wrong narratives.
    Anyway, these guys are really performing exploit, please let us encourage and support them, I believe these guys at their helm of affairs are young, dynamic, vibrant and Talented people, so they will not want to joke with their promising future business career.

  • I am privileged to be one of the very few persons privy to the operation of addyfx because I know the genesis of their transformation and they maintain an account in one of the commercial banks they operate and use for their payouts. Addyfx is one of thé most professionally run investment platform anywhere in this country. Regulatory issues have been sorted and I can recommend for anyone not because I understand their inner working but because they are divesting into other segments. This was how paystack grew into a fintech giant in this country. I have no doubts that Addyfx will be the provider of financial freedom of choice in the coming years.

  • One thing I know is that these returns can’t come from forex alone. Do they have other investment vehicles?

  • I am an investor and I received email from addy on their sec licence.

  • You better go and find another work if this is the type of review you do. Some company will soon slam law suit on you. I see it coming if you don’t desist from discrediting a business without adequate investigation.

  • This review is total rubbish. And I think the admin should be charged for destroying other people’s reputation without diligence check.

    • Again, nobody was able to prove me wrong. If you want to be the first, point at anything in my review and prove it wrong.

  • Hello my people,

    Let take things easy, the admin has not force anyone in making a decision; he is just giving us reason to be sceptical about our decisions. Although, he judged from his view and should have conducted more investigation or put a clause to his review.

    Lets not be too hard on him; we don’t know his review that will be correct.

  • Both constructive and destructive criticism are inevitable. Just as the writer said, no one have been able to prove him wrong with his claims. Are they SEC certified? Do their claimed insurance with AIIC actually covered investors funds? Are they really into other sectors aside forex? Bring on proofs, let’s clarify matters arising.

  • Hi james, you are not wrong but its your opinion. Am an investor in both MBA forex and Addy. MBA has issues and they are have decided to stop operating but for ADDY they are trying to make people smile. I alway get my ROI as at when due without delay.
    Every investment is a risk and who ever wants to take the risk is always welcome. You took the risk by writing this review and i want to say without insulting anyone that i will alway take the risk in any investment as long as i did not put all my life.

    • It is not about whether they are paying or not, it is about the legitimacy of their business. Because 20 – 25% monthly is not doable in Forex trading, which means that if they are paying, they have to run some illegal scheme.

      • So you want us to remove our mo ey so they would crash common never,they should give u source later you I turn open James fix too lol

    • ok you so have been receiving ROI’s. Have you gotten to the end of your investment term when you received your full capital as well?

      I keep asking a lot of people who have invested and claim they get ROI payment this question and nobody has been able to provide a direct answer

  • Thank you so much the Reviewer, you did a wonderful job. Even before reading your review, I told those advertising addyfx to me that ROI is not realistic. If they pay their investors 20%, it means they make more than that, which is not practical consistently. Those who have ears should use them or fall prey. Thank you

  • I have been contemplating on investing in their platform. I’m yet to come to conclusion. With this review, I have to investigate deeper. Thanks for this.

  • Well, basically….there are very fine people on both sides of this argument 🙂 I agree with the writer, James. However, I will be proceeding to invest (risk) amounts that I will be okay with loosing.

  • Great review.. while addyfx must have been doing well with timely payment of ROI, I am of the opinion that; 10-20% ROI monthly may not be feasible considering the Company’s structure and years of operation. More so AIICO insurance does not cover tefunds of investors fund.. Every business that desires growth would rather re-invest its mega profit into the business to boost its capital base rather than paying a higher ROI to investors. Its greed that drives people to invest in schemes like this. The fast lane most times dont lead to a pleasurable destination. Invest what you can conveniently afford to lose without Heart break. No legitimate organisation that has the interest of its investors at heart would pay more than 15-30% ROI per annum subject to reviews and depending on profits earned as Dividends(ROI) are paid from profits instead of Investment Capital…

    MMM, Thrive Agric, Famzhi (abuja), MBA forest, et al.. have all come and gone with billions of investors fund. Be careful and invest wisely.. I wish addyfx best of lucks!!

  • Take a position don’t bet the whole house and ride this donkey until it collapses. I have enough financial savvy to understand that at 20% offering 240 or 140% interest in forex in an effing miracle! The only other conclusion is 1) cash is coming from other investors 2) they are redirecting cash from the other ventures 3) they really are miracle workers and they should all move to Wall Street. Whatever it is-I am an investor my principal is out and I am just enjoying the ride now. I have dashed them my principal..hahahaha

  • Dear James, notwithstanding that I have a few reservations for this review of yours, I would still commend your effort in researching and posting a review on AddyFx business. Actually, your past reviews on MBA forex (I believe you were the same person) helped me make my decision and saved me from the eventual heartbreak that would have devastated me had I invested with them. Your assertions and conclusions about AddyFx are logical, but I think some of them might be wrong. I may be biased in my arguments as I’ve currently invested with them, but I’ll try to be objective too.

    1. ON THE ISSUE OF SEC REGISTRATION – AddyFx have assured via their Twitter and FB handles that they are on the verge of securing SEC approval. On 29 Dec, 2020 AddyFx via their official Facebook page announced their success on the pre-qualification examinations for potential capital market operators organized by the Nigerian Capital Market Institute (NCMI). I think it’s a positive for a budding indigenous company, and they should be encouraged for their efforts. They may not yet be listed in the SEC list of CMOs, but they’re neither in their blacklist of illegal forex companies, like MBA Forex and a host of others. AddyFx have been operating since 2019 and they have from the onset openly declared themselves a forex company. They’ve been in the business for 2 years now, and since SEC (in their 2020 blacklist update) had not listed Addyfx as an illegally operating company, it follows they aren’t one (yet!).

    2. ON THE ISSUE OF 20% UTOPIAN RETURNS – I may not be savvy with forex trading and how it operates, but I’m sure that forex is a market where massive profits can be made on a regular basis (and massive loss as well). But with seasoned professionals, steady profit is guaranteed. You commented that AddyFx did not disclose its brokers and proofs of their trading/investment results, but I don’t suppose you made any enquiries with their offices or via email and they refused to disclose. I don’t think their failure to openly disclose their brokers or trade results make them a scam, after all every business is entitled to preserve its trade secrets. Maybe you should make the extra effort of demanding those information from them before you make your conclusions. More so, AddyFx runs other registered businesses in Agro, Estates and logistics. So it’s possible that the “utopian” offers they promise their investors can be actualized through these other businesses. Where they do not make the expected profits from forex for a particular period, they can augment it via their other businesses. It’s a no-brainer!

    3. CONCLUSION – In as much as you are right that AddyFx have removed almost everything from their website (which is truly a concern and which I’ll enquire about), your post failed to acknowledge that investors’ funds are insured with AIICO Insurance Plc. You also failed to acknowledge that AddyFx operates Nigerian bank accounts, and not some complicated suspicious payment system. You also failed to acknowledge that they’re cleared by some financial crimes agencies. I think these are reasonable positives that should tell us that even though AddyFx may not have attained 100% perfection, but they are striving to get there. Besides, no business is fail-proof! Every investment in any business in the world is a risk. The question is whether the risk is worth it!

    Once again, I commend your efforts but I strongly disagree that the reasons you posted above are conclusive that AddyFx is a scam. In any case, while we keep our fingers crossed, I’m in my 4th month of my ROI and each alert has been coming before 9am on every due date! Until the government makes the atmosphere conducive for businesses to thrive, we’ll keep taking our chances.


  • Smart response Issac. Truly apperciated.

    The only point i disagree with is the AIICO insurance part. They are insured, quite alright, but i don’t think investors funds are insured.

    I have been with them for 5 months ( this month is my sixth) and never for once have they defaulted!

  • They have NOT. I spoke with them 2021.

  • I think its very important to note that we live in a country where many things dont work. as such, to get licensed sometimes for unorthodox businesses in the Nigerian space, you might need to be a heavy weight in terms of connections and also be ready to settle a lot of people. So to be fair, not being licenced over the years does not mean the business is not legitimate.

    I know legitimate businesses in Nigeria owned by people i know personally that pay investors as much as 5% monthly but are not SEC licenced (and i see the transaction circle of these businesses so i know its very legit). My point is, there are some businesses that make crazy profits but you would never know because of lack of exposure. Remember that many businesses (banks and investment companies) that were registered by SEC has failed so its not by registration.

    Yes these businesses i mentioned earlier don’t pay as much as 10% – 20% but my research on independent forex traders i also know personally show that it is very possible to make up to 30% (even 40%) monthly with certain discipline. so if addy is giving 20% (for huge investments over N9m) then its not so crazy after all.

    Truth is, Addy is paying, i have done various investments with them, and after the first 2 investments, i refused to rollover because i wanted to experience my capital being returned. They are probably the most organised business i have ever seen in Nigeria. They are growing day by day.

    About the insurance thing, if you are knowledgeable about how insurance works, you will know that its not so easy to secure investors fund 100%. even the biggest banks in Nigeria like Zenith insure your funds with NDIC but only to a maximum of N500,000 per account (do you know how much they even have to pay to do that? and CBN helped to subsidize the premium for banks). so imagine a conglomerate that makes up to N200biliion profit like zenith cannot even guarantee all your funds 100% (its not so easy), is it addyfx? but atleast addyfx has a fidelity bond (insurance taken out by an employer against losses incurred through dishonesty by employees).

    I just believe you can hardly be successful in this life without taking a risk. Especially in a country like Nigeria where the system is not programmed to support the average man or business.

    There is no business with zero risk. Once again remember that many businesses (banks and investment companies) that were registered by SEC have failed so its not by registration.

  • It interest me to read your review and the comments that follows.

    First, we all need to understand that investments no matter how good or bad it may sound, it is a risk! I remember years back in 2007 when i used my school fee to buy DAAR PLC shares and nothing to show for it till date, how has regulations or regulatory body helped me? Was my investment sum insured? The answer is NO!

    So my guy, if you invest in any business and it fails, don’t kill yourself, businesses will either fail or succeed. Many regulated big companies are no longer in existence.

    So it baffles me when educated ones talk about insurance over investment sum. Maybe you should show me one single regulated investment policy in nigeria that insures the invested money for me to stop shaking my head.

    As stupid as it may sound, in the days of MMM, people that made it actually did oo, i know people that got married and people that built houses, buy cars from the so called MMM and other crowd funding scheme. Make we shock ourselves? SEC now has regulations for crowd funding. Funny abi?

    What we should be concern with here is to beg regulatory bodies to support businesses that has the ability to change the financial narratives in nigeria cos as it stands today, everything i grew up to know as investment schemes in nigeria from treasury bills, stocks , derivatives and the likes have failed! I wonder if people still put money in it sef.

    So my dear blogger, i understand you but as for me, if it is paying at the moment, i will invest , get more money and do other investments too. Nigeria is not a place to slack.

    • You have to differentiat between a scheme that does no real bussiness and just redistributes money, which a scam, and a real business that creates real values and generates profits. The first is not about risks, it is a certain failure, while the second is an investment that is risky.

      • Well said , Over a year I joined and they have not failed. I personally visited their office to know exactly what they are into and I was satisfied with my findings. Traders on the street and Market places do get more than that ROI they promised on monthly basis( i.e PoS or Bank agent makes more than that on a monthly basis). The writer who intends to blackmail Addyfx should get to the street and made informed research before writing rubbish.

  • Addyfx is a brand that is discipline enough to deliver the realistic advantage. Ponzi scheme or none, the fact remains an attempt to make an exploit is proof of responsibility. Addyfx well done because the fact that you have grown to recognition is proof that you’re a brand with a difference. Please do all you can to keep the structures of results effective and efficient and disregard every opposition because they are only doing their job because someone else most have paid them for what they are doing as well. YOU WON’T FAIL BECAUSE YOU HAVE COME TOO FAR TO FAIL.

  • I don’t get the hullabaloo here about all these forex houses being scams or legit. The fact remains that every investment is a risk. Even the cash you refuse to invest and leave in the bank is also at risk cos banks do collapse. And before u tell me NDIC insures your money in the bank, pls take time to go read the NDIC act. Its only a part of your money that is paid to you should your bank collapse and there is limit also.
    Forex trading is one of the most volatile investments you can ever consider. I had tried demo trading more than 8 years ago after weeks of training and thought i had become a pro afterwards. I then went live and invested 3000 dollars and lost all in two days under Alpari trading platform. Since then i have never gotten near it as a trader personally. But that does not mean that there are people who do not make as much as 50 percent of their trading capital in a week or even in days.
    If MBA and Addyfx claim to be trading in forex and promising as high as 30 percent per moth in returns, they are probably paying you far far less than they make as long as the going remains good. i don’t think their size of returns is a basis to classify them as ponzi in any way. . The fact is that they could make even more than that in a week and alternatively, they could also loose all your capital in a week . It all depends on the fundamentals and the expertise of their traders.
    Besides the reason they are promising so much returns is simply to attract more investors so they can have a larger pool of funds to play as hedge against losses which can be very heavy when it occurs. Forex trading is highly risky and if u should choose to invest in addyfx and the likes, you should be ready to loose your funds at any time should the waves go against them or make more than 200percent return on investment in a year should all go well..
    I have come to understand the risk involved in investments because i am “financially literate” and i think people should take time out to educate themselves financially. Not just having a bsc in finance, i mean read books on personal finance like Tony Robbins- “Money -master the game”. Being financially literate would help u understand how to spread your investments between high risk, medium risk and low risk cos the fact remains that you would never grow your portfolio enough if you do not play in the high risk areas and these are where addyfx and the likes operate. Low risks such as TBs and FDs are almost as low as 2 percent per annum in Nigeria as at the last time I checked. My point in all these is that i don’t think Addyfx and MBA are ponzi schemes like MMM. Rather they are high risks investments that you should consider investing in only when u have enough capital to risk at least 15 percent out of it without going back to your village when you loose the money. There are two emotions that drive people in investing- GREED and FEAR. Greed makes you hear 20 percent return from addyfx to rush and put your last 1 million Naira when u should have just put only 100 k and stay on that 100 k even if they pay you for 20 years. Fear on the other hand makes you not to even try any investing at all and loose opportunities to grow your capital and thereby subjecting your cash to the highly corrosive effects of inflation because cash not invested is as good as useless . But once you can manage these two emotions effectively ,you would be a good investor and all these reviews here would not be a determinant of your investment lifestyle.
    The fact remains you would never be wealthy if you do not take risks but learn to take calculated risks. I have investment with addyfx for one year now and they have been paying all along and and i have made more than 150 percent of my capital and I intend rolling over the investment. I also invested with MBA but doubts crept into my mind when i realized along the line they were strugling so i pulled out my funds after i made more than 150 percent returns at maturity and despite their advances that i should roll over , i refused and 5 months after they went down.
    What i am saying in essence is that had MBA collapsed with my money, i would still be fine financially and should addyfx fold today, i will also be fine financially because i have educated myself financially and learnt how to play with risks. You should do same.
    Finally to use the fact that addyfx is not registered with SEC as a basis to declare them as ponzi is a bit on the shallow side in terms of judgement because we have seen banks that are registered and operating with license from CBN with high profile and well known board members, still collapse and people loose their money. (NDIC has a limit to the amount they can pay you if your bank collapses so never think your money is fully insured with NDIC) I did a study last March on commercial banks in Nigeria for a research programme and i make do to say the risk of collapse for most banks is still there despite all the regulation from CBN and NDIC. So please lets not use registration with SEC as basis for classifying addyfx as ponzi because even registered investment houses have been known to collapse. Rather lets advise people to invest based on their appetite for risk and people should take time to become financially literate. The resources are all out there almost for free. Take time to go through or join some investment clubs where you learn how to grow your funds.

  • Your review was great….
    Please can you tell me an investment platform in Nigeria that is not a scam so that I can invest in them…
    Thank you..!

  • Who said 20% is not doable in forex? I have a very close friend that trades forex on his own personally, I invest with him and he give me 20% ROI for 3 months duration. This have been on more than a year now so don’t say 20% is not your research well

  • Hi James,

    Your research and post is apt and factual.

    The truth, however, is that a lot of Nigerians will still invest in a ponzi scheme with the hopes of entering early and cashing out before it crashes. It is plain greed and no one really cares about the other people who will become eventual losers when the scheme crashes.

  • Yes I have received all my ROI and capital and I have reinvested with an increased capital for the next 6months duration

  • Addy FX is a scam. Anyone that does invest is only providing money to some smart young guys to live the champagne life on their hard earned money. I started my business in early 2019 with funds that was meant to be investigated in MBA. Today, I have made over 10x my initial investment. Get rich quick scheme is never the solution to wealth.

  • If your conclusion is based on the fact that they have no SEC certification (which they are working towards) then you may not be entirely right. I currently invest in a small company that is off the grid and I get 30% from it monthly, capital and interest monthly.

    Also if you say that it’s impossible to make 25% interest /profit in forex monthly, then you know nothing about forex. That’s all I can say

    • No, it really is not possible to make 25% every month. I have been trading for 15 years and I know it.

      • You’ve been trading for 15 years and you haven’t made 25% straight in months?!!! Guy, I do 30 – 35% on a worst case monthly and i’ve been at this for almost 8 years now…..I trade for some comm banks too….. you might really need to check your pairs and trade strategy, so you don’t scare off the guys who want to trade forex.

      • You mean because you traded for 18 years and didn’t make good money, no one else can?
        There are many businesses failing daily. Wkuld that be right for one to say it’s impossible to make money doing business? If I was into a retail business for 15 years and it failed, would I be right to conclude that it is impossible to get rich from retail? Do you think that is good enough to draw conclusions from just my own experience?

  • I want to invest in Addy fx but your website is not secure..Pls can you tell why

  • is not a secured website. A financial organisation like addyfx should be secured. I told a friend who wants to invest with addyfx to check their website and that’s the first thing he told me-that the website is unsecured.

    Let them secure it so that public can trust their site and properly invest with them.

  • A Sudden crash is The end of all these ponzi schemes parading as forex trading investment companies. A consistent forex trader will tell you that its highly improbable to make 20% consistently for 12 months. Hedge funds that actually move the market hardly make 20% a year.

  • Pls take a look at Citi Forex and analyse them. I really need your opinion

  • Good day, investors also mention that there is 30% cancellation fee ? phone numbers 2348081605303 2347049744411 2347025326260 ? (posted on cryptocurrency website?) there is NO INFO about management on their SOLICITATION website ? Hope this will help ? 2021-02-15 1159:06 sorry for errors

  • To my own findings Addyfx should be encourage and investor should always pray for their success. A friend recommended them to me and i invested with them ever since then they have been paying and the percentage is not 25%.

    there is always pro and cons to every investment, make sure you don’t invest your life savings, invest what you can risk incase of any eventuality which we never pray for.

    There is no need to be arguing or insulting each other over a point of view, everyone is entitle to his/her opinion and we should promote sanctity when making assertion to issues.

  • at least you have gotten the attention you are seeking. This is for anybody confused in regards to addyfx, it works ,and it is real . All measure to guarantee the security of your money is well taken.

  • Bara/DW/MBA all have ut too. Eventually we found that they were Ponzi schemes too. Now they are hooked and can pay anymore

  • Imagine you having 1billion usd as addyfx u employ 10 pro traders you give them 40millio each to trade and they make 20% return on investment average of 2 to 3 days a week they can settle any % of clients the thing is that if one happen to slow in return his loss will be covered by other paid pro traders,funds will be given to the more consistent one to trade more. It’s very simple the more investment capital keep coming in the more they can keep the investment going for as long as we invest they can succeed if really there are trading and not moving funds around as ponzi then we are all in for better investment…that’s the logic

  • I just noticed this site for the first time. The owner is a complete idiot who knows no-jack! The site is an embarrassment to online media and it should be banned. I am an investor with AddyFX (1 year) and I never experienced a hitch. ADDYFX’s move to be compliant with the necessary financial regulations tell us they know their onions. This is laudable enough to earn public trust. As I perceive it, TBBOB site is the actual scam here.

  • I think idleness and reluctance is what’s killing us. Guys instead of giving people your hard earned money to later on runaway with it it’s better you do it yourself. Find a nice business and engage yourself in.. simple

  • Your post reeks of ignorance. Your ignorance stinks.


  • You need to do your homework very well. Don’t mind the writer.

    Addyfx is a legit company and they just got their SEC licence if you care to know.

    I am an investor with Addyfx and they pay me as at when due.

    Addyfx is a cool company which you can invest on.

  • Dear Valued Investor,

    Congratulations to you, as AddyFinance & Investments has now been officially approved as a Fund and Portfolio Management firm by The Securities and Exchange Commission (SEC).

    As part of the routine onboarding process, we shall be restructuring our position on various asset classes to ensure diversity in our portfolios, in consideration of various volatility risks which we shall communicate as soon as we conclude the onboarding process.

    Disclaimer: We wish to inform our esteemed customers that prior to the SEC approval, our name is now ADDYFINANCE & INVESTMENTS LIMITED. On this account, please beware that any dealing(s) done with ADDYFX LIMITED shall be at the clients’ peril and the Company (ADDYFINANCE & INVESTMENTS LIMITED) shall not be held liable over any loss(es) and/or damages as a result of any dealing(s) with any staff, entity or representative bearing ADDYFX LIMITED henceforth.

    We thank you for your continuous support, confidence, and encouragement during this transition period, as we are poised to serve you better.

    Thank you for choosing us as your preferred investment option.

    Addy Finance & Investments Limited. Block 25, Plot 8, Chief Collins Uchidiuno Street, Lekki Phase One, Lagos 105102, Nigeria

    You may unsubscribe or change your contact details at any time.

  • Hi, please can you recommend some investment companies with good rates one can key into. Thanks in anticipation.

  • As for me, I can’t risk my investment with AddyFX. Why? I met with one of their representatives who introduced the platform to me. Upon seeing the FX that end their name, I asked if they deal with Forex and he denied that they only deal in Agriculture. Upon checking their website, only Forex was talked about and nothing like Agriculture. From there I am kinda confuse. Though I can tell you categorically that the company has a lot of money now but I am still confuse why the website is saying something else from what they do. Why is that please. Do you think such organization should be trusted.

  • Read the mail I got from them below. Does this change anything?
    Can anyone confirm this?

    Dear Valued Investor,

    Congratulations to you, as AddyFinance & Investments has now been officially approved as a Fund and Portfolio Management firm by The Securities and Exchange Commission (SEC).

    As part of the routine onboarding process, we shall be restructuring our position on various asset classes to ensure diversity in our portfolios, in consideration of various volatility risks which we shall communicate as soon as we conclude the onboarding process.

    Disclaimer: We wish to inform our esteemed customers that prior to the SEC approval, our name is now ADDYFINANCE & INVESTMENTS LIMITED. On this account, please beware that any dealing(s) done with ADDYFX LIMITED shall be at the clients’ peril and the Company (ADDYFINANCE & INVESTMENTS LIMITED) shall not be held liable over any loss(es) and/or damages as a result of any dealing(s) with any staff, entity or representative bearing ADDYFX LIMITED henceforth.

    We thank you for your continuous support, confidence, and encouragement during this transition period, as we are poised to serve you better.

    Thank you for choosing us as your preferred investment option.

    • The problem is that AddyFinance is nowhere to be found on the SEC website:
      I asked for a proof of the registration with the SEC and nobody has been able to provide it.

      • Ok, so what happens when the onboarding process in over and they are now listed on SEC portal?

        • I will update the review.

          • Perhaps you should do that now


            Next time, try to seek proper information before you tarnish the image of a legitimate company with lies and misleading numbers

          • I’m sorry but I have no time travel abilities. At the time I wrote the review, AddyFX was not registered with the SEC. Plus, when AddyFX started with their 25% monhtly ROI plans, they clearly were operating some shady scheme (proof in the review). Since then, they removed these plans, which proves my point.

            Also, AddyFX is still not registered with the SEC. There is a new entity called AddyFinance & Investments Limited that is registered with the SEC, and this new entity distanced itself from AddyFX by saying: “”Please beware that any dealing(s) done with ADDYFX LIMITED shall be at the clients’ peril and the Company (ADDYFINANCE & INVESTMENTS LIMITED) shall not be held liable over any loss(es) and/or damages as a result of any dealing(s) with any staff, entity or representative bearing ADDYFX LIMITED henceforth.”

            So, I still don’t see where I’m wrong. I added the new info to the review, though.

  • Fair point

    The company was asked by SEC to change her name amongst many other restructuring requirements before they could get the approval.

    The onboarding process is still ongoing. This will also include a reduction in the rates offered (which is currently between 10-20%) as SEC has cited that other sectors of the economy would be affected if they are allowed to maintain those rates.

    It’s the reason the rates were removed from the website. It’s undergoing a total overhaul and that can’t be completed until the onboarding process with SEC is complete.

    Truth is, you should have talked to investors or even made an attempt to go to one of the branches to find out more info before making this shady post of yours. I’m even 100% sure you never believed when people came to the comments to inform you that the company is undergoing SEC registration. You really need to do better going forward so you don’t spoil someone’s business due to your own lack of proper research abilities.


    • They can’t make 20% per month, every month, in Forex trading. Period. And yeah, I heard so many false promises of registration with financial regulators from so many different projects that I did not believe this one either.
      And as I said, AddyFX still is not and won’t be regulated. We’ll see what AddyFinance brings to the table, it is a different entity.

    • “On boarding Process “, Reduction of “ROI”… “SEC is against the high ROI as it would affect other sectors of the economy ”

      That was how Famzhi Interbiz Ltd, Abuja… Crashed with Billions of Investors Monies.. Same language all the time.. This should be Cashing out time.. Be wise and take a bow before everything goes sour

      • The reality that the so-called “high ROI” is impossible in real Forex trading.

      • Hello “investment consultant”, I’ll appreciate if I can get your contact, cause I’ll like to invest legitimately. I knew Addyfinance since March of last year, I didn’t invest cause I was skeptical of their dealings, but now they’ve their SEC. After SEC disclosed few as ponzi schemes, we all saw how MBA who claimed to be into forex as well collapsed with people’s monies yet to be returned.
        This is my WhatsApp below:

  • About the information on their website about not being responsible for any name other *ADDY FINANCE AND INVESTMENT LIMITED *.. We’ll if you take a look at the cooperate account you pay to and get credited from… It carries the new and Approved name.. Not otherwise.. So this is another positive

  • Presently Addy is doing well and I encourage you to give it a try with what u can loose if you are scared. Follow peson wey sabi road … e get why…

  • 1. March 12th, 2021: AddyFx changed their name from AddyFx to Addy Finance and Investments Ltd in compliance with regulatory provisions.

    2. March 29th, 2021: Addy Finance & Investments Ltd concluded their long-sought registration with S.E.C., and got officially approved as a Fund and Portfolio Management Firm.

    3. April 19th, 2021: They have become a certified member of the Fund Managers Association of Nigeria.

    I think doing a critique of a particular subject matter requires being objective, updated and accepting it when there’s a positive change that invalidates or upturns all your criticisms about that subject matter.

    Now, I’m not saying that Addy Finance is perfect or infallible (actually, no business entity is; not even Dangote group), I’m just saying that if a company has gone through the hurdles of meeting up with regulatory requirements and has consistently kept their promise with their investors with not even one single complaint of default in the payment of their monthly ROIs, that company deserves a little plus.

    It’s high time you gave Addy a little thumbs up in some aspect. Critical analysis does not mean your findings or judgment must always be negative, it can also mean being objective and positive if it calls for it.

    • 4. Addy Finance & Investments distanced themselves from AddyFX: “Please beware that any dealing(s) done with ADDYFX LIMITED shall be at the clients’ peril and the Company (ADDYFINANCE & INVESTMENTS LIMITED) shall not be held liable over any loss(es) and/or damages as a result of any dealing(s) with any staff, entity or representative bearing ADDYFX LIMITED henceforth.”

      • You and I know that the disclaimer you quoted applies to subsequent dealings with AddyFx, and not with already-existing contracts with old investors whose investments are still pending with the company prior to the change of name. The company cannot by such disclaimer exculpate themselves from breaches/acts done before the change of name. AddyFx and Addy Finance and Investments Ltd still remain one and the same entity for the purposes of acts done prior to the change of name and registration with S.E.C.

        Interestingly, it appears you have cynically chosen to separate AddyFx from Addy Finance and Investments Ltd in order to justify your continued stance that the company is likely a scam. It’s like saying that because, for instance, Econet have changed their names severally over the years to the current Airtel, the latter never inherited the assets as well as liabilites of the former, but is totally different from the former. You ought to still be consistent, dynamic and objective with your analysis, notwithstanding the new changes.

        Nevertheless, if we’re to follow your current reasoning that AddyFx is now separate from Addy Finance and Investments Ltd, ignoring the fact that it is a mere change of name and registration, it then supposes that your posts about a company that no longer exists, i.e, AddyFx (and in fact, the whole essence of your topic) have become obsolete and ought to be taken down.

        • If AddyFX got their SEC registration under the same name, while displaying their investment plans with 20%+ monthly returns from Forex trading, and only later changed their name, then yes, I would update the review.

          In other words, one thing is to change your name while you hold a license, this is normal rebranding. Changing your name and products to get a license is another thing that signals that what you were doing was wrong.

          AddyFX changed their name before getting the SEC license and they removed their ridiculous scam investment plans also before getting the license. This confirms my conclusion that AddyFX was a scam and it had to become a different company with different products in order to get a license. This review is about AddyFX and there is nothing wrong about it.

          Because I firmly stand by my statement that 20 – 25% monthly ROI from Forex trading is impossible in the long term. Only Ponzi scams can offer this kind of numbers.

          Addy Finance and Investments Ltd is a company with a different name and with different products. It is not the subject of this review.

  • Excuse me? You do not know any legitimate investment opportunity in Nigeria you can advise one to invest in but hell bent that AddyFx is a scam?
    How do you know the scams and know no real ones? That’s by the way.

    Personally, my take is that the fact a company is not registered or regulated in Nigeria does not make it scam. Reason is because Nigeria is slow in issuing regulations and guidance for new and upcoming industries and companies.
    Example: CBN has declared Crypto trading as unregulated and hence advised Nigerians not to get involved in Crypto trading – does that make Crypto a scam? Will that make a new Crypto “FinTech” to be a scam?
    So I personally think a company can be called a scam when you’re playing against laid down regulation not because you’re playing with NO regulation.

    The sector AddyFx and the likes play in has not been clearly regulated in Nigeria. They are even unsure who their major regulator should be – whether SEC or CBN. This explains why AddyFx choose to upscale their value proposition to Investment/Portfolio management so as to obtain a SEC license as such.

    • Well, if something is required by the law to be regulated and it is not, that tells a lot.
      But what is most important is that AddyFX was offering up to 25% monthly returns from Forex trading – that makes it a scam because such a performance is impossible for an investment company in Forex trading.

  • First, AddyFx has changed its name to Addy finance and investment and are registered with SEC. You can search for Addy on And the warning message simply means the public should not deal with any company posing as AddyFx. If you think about it, why are they still paying their old customers even though they have changed name?. Companies change name is normal, you and I know that they can never deny their customers because they have changed their name.

    And I don’t know where you got the 25% from. Their ROI ranges from 10-20%.

    Secondly, I think your position is too rigid why don’t you try to accomodate some views that maybe this company is not fraudulent or why don’t you try to be conservative in your review ?

    PS. Its okay to be wrong sometimes.

    • You obviously did not even bother to read the review, so any discussion with you is useless.
      I show the proof in the review that AddyFX was offering a 25% yearly ROI plan.
      And again, even 20% per month in Forex trading is impossible for an investment company.

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