Afribay Limited is a website that claims to be a risk-free trading software. We will find out in this review if this claim is valid or not. If you have been reading reviews about the different trading app online, you will not be able to find an investment program that offers no zero-risk investment.
We will provide you information about this software, so you will understand how it works and if you trust this or not. The people behind this app are unknown, but they claim that their team comprises professionals with extensive investment experience.
What is Afribay Ltd?
Afribay Limited is a financial company that invests money in Forex. It is being handled by a team of experts in trading and will trade on your behalf. Initially, this investment software offers four investment plans – Starter, Standard, Bronze, and Golden.
The company promises its members 17% to 40% ROI. But, it is not specified when they can get the mentioned returns. This only means that you will not know when you can get your commission. To start trading, you need to deposit at least $50, which is the minimum amount. Afribay also has a referral program of up to 10% across three levels.
How does it work?
Obviously, Afribay is operating using a Ponzi scheme. It means that they pay old members using the money paid by the new members. Sometimes, if they run out of funds due to a lack of new members, they will not pay you and would vanish in the air.
Afribay depends on the number of new members signing up and making a deposit. This is a clear indication that they are applying a Ponzi scheme. It’s obvious Afribay is not trading Forex. The app is designed not to trade but to steal money from investors.
Why Afribay is a scam?
We are sure that Afribay is a scam. A thorough investigation was conducted to prove this software as a scam. In this review, we are mentioning three of the most apparent reasons. And we believe it is enough to convince investors that they should put their money on this.
Fraud investment plans
The first thing that you will notice when you visit the Afribay website is their investment plans. But, they have removed this part as they are aware that the authorities are checking on them. In the investment plans, they did not mention when the investors can get their returns. It is an obvious red flag. The site states that you can get up to 40% commission. No legal or reliable trading app can provide a commission this high. A regulated investment company can reach a commission this high in a year. Such a statement is used to attract investors, but it is not possible at all.
Fake registration number
The website has been existing for two years, and yet no proof of trading were presented. Also, AddyFX did not mention what brokers it uses to invest. A reliable company can provide audited investment results, so the investors will know what they will gain if they join.
If the company can produce a 25% monthly ROI, it will not have any issue showing its trading statement so investors can review them before investing. It looks like AddyFX is using an MLM or a Ponzi Scheme since there is no truth about their trading. If this is the case, then the company may collapse anytime soon.
Fake date of establishment
On their website, they mentioned that the company was founded in 2019. According to them, they have started planning in 2013. It was only this November 2020, so it only means that it is only one month old. It looks like this app is lying all the time, from its registration date to being unregulated and being anonymous. If you check their terms of service, you will notice that it is too short and lacking information. The social media profiles are blank.
There is no doubt, Afribay is a scam, and you should not trust it all. After our thorough evaluation, we have found proof that this software is not telling the truth. Everything on their website is either copied from other fake sites or designed to attract people to invest and steal their money. If you want to trade online, it is best to use the demo account using digital money so you will not lose anything.
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Is it safe to trade with Afribay Limited?
Definitely not. Afribay is a scam app, and investing in it could mean losing your hard-earned money.
Why are there positive comments about Afribay?
These are paid comments. They get commissions by writing positive posts about the app.
Is Afribay open to the public?
Yes, Afribay Limited is opent to public from legal age of 18 and above.
⊛ Do you have any extra proofs? Please share them in the comments below ⊛