Broker Spry-LTD - Forex Scam!Julius Conley 07 / March / 22 Visitors: 318
The Internet broker Spry-LTD, which operates in England, is considered a scammer with unclean fame.
If we go to the official website of Spry-LTD - spryltd.com, we will find that this company offers trading services in the Forex market in the UK. In addition, Spry-LTD provides financial action programs.
Our experts studied the Spry-LTD website, got acquainted with the terms of operations, made attempts to get at least demo access to the services, analyzed the availability of documents, the place of residence of the company.
With the help of the data obtained, we will figure out: Spry-LTD - a divorce or not?
In addition, we will tell you how not to fall into the trap of deceivers, about their methods of operation. We will provide the necessary data to keep your money safe.
Spry-LTD is offshore
The first call that indicates that Spry-LTD are criminals is the region of registration. Documentally, the company is registered in the Marshall Islands, which is already doubtful, since Spry-LTD operates in England. Offshore countries are popular with criminals due to the lack of laws and regulation.
In addition, this country does not have the authority to trade in the Forex market.
Also, when we tried to find the physical address, mentions of the owners and directors of spryltd.com, we failed to find anything.
This hints that spryltd.com is an illegal online broker, which can result in significant financial losses.
No management information found spryltd.com
After reviewing the website, we have not been able to find any credible information about the leadership of the Spry-LTD organization. No address, no phone numbers or other means of contact.
Most likely, this means that real leaders try to hide information about themselves in order to elude punishment for their actions. If one of the managers of Spry-LTD can be exposed, then everything will end there, and the actual owners of the shadow company will remain at large.
Spry-LTD, the official website - Spry-LTD, has been working for less than a month
The spryltd.com website speaks of significant forex experience.
The main method of studying any website is to obtain information about the domain. Basically, they record the age of the domain name, information for the owner's connection.
In a specific case, the spryltd.com domain exists for less than thirty days, and all data about the individual who owns it is hidden. Another proof that the organizers of Spry-LTD are trying to protect their incognito.
Such a desire can be supported, but not when it comes to an organization acting as an intermediary between the client and the Forex market.
At the same time, Spry-LTD themselves assure potential users that they have been effectively trading in the Forex market for many years.
Spry-LTD does not have a trial period
It is a common practice for Internet brokers to provide traders with a demo version of the software so that they can get acquainted with the interface, try their hand at playing the Forex financial market with a fake currency.
Unfortunately, on the website of Spry-LTD, we could not find data on the demo period, the ability to test the program.
We assume that the directors of spryltd.com are simply not going to provide traders with trial access to paid software, as one of them is able to suspect a scam.
Spryltd.com Online Broker Operates With Negative Balance
Legal companies that operate on Forex do not use a negative account in their activities. In accordance with the laws, a trader of an online broker is not able to spend more than what is currently in the account. In rare cases, when the balance goes into a negative value, it is not the user who is obliged to pay off his debts, but the company that provided its services.
Therefore, registered online brokers do not use a negative balance in their work.
However, Spry-LTD gives its users Forex operations with a negative balance, that is, in debt.
Why is it necessary?
To drive a trader into a minus and start extorting debt from him. This is one of the most popular methods of fraud used by criminals.
If this happens, you need to remember that scammers have no way to get money in accordance with UK law. Absolutely all methods of influencing you are illegal. The maximum that scammers can do is call, write letters with demands.
You cannot cooperate with spryltd.com, as any attempts to negotiate will result in new costs.
Spryltd.com operate with a credit ratio of 1 to 400 or more
Already, it is clear that Spry-LTD are criminals. However, let us point out one fact, namely the existence of an excessively large credit ratio.
The credit ratio is the ratio of the money of traders and brokers when making a transaction. Leverage allows significant trades to be made by users who do not have access to large funds.
To protect traders in the Forex market, in developed countries, legislation provides for the use of a credit ratio with a maximum ratio of one to thirty, in rare cases 50.
At the same time, Spry-LTD uses a leverage of one to 400 for Forex trading.
Such an attitude is legalized in Switzerland, since firms registered in this country enjoy high confidence. However, Spry-LTD is not registered in that country.
In fact, Spry-LTD is not allowed to trade Forex with this leverage due to the high risk to users. Actually, this is used solely to force the trader to give more money, but also to drive him into loans.
Local divisions of Spry-LTD
It is considered important for a company to have local branches in civilized countries, even if the activity is carried out exclusively in Britain. So Spry-LTD talks about the fact that in addition to an impressive number of awards, they have local branches in the UK, Australia and other civilized regions, and also about a lot of qualified employees.
It is easy to check the reality of these divisions. Since industry organizations are known that control the actions of brokers. In the UK, this is FCA, and for example, Australia - ASIC.
Because of this, a law-abiding company is required to have supporting documents from data or other structures that confirm their right to provide trading services on the Forex financial market, determine the level of responsibility.
However, after analyzing specialized official sites, our specialists could not find them. This once again confirms the suspicions.
For registration on spryltd.com, you need to transfer personal data
As we reported earlier, Spry-LTD does not have a trial period and, accordingly, in order to gain access, you must immediately transfer the minimum deposit to Spry-LTD scammers. Also, access to the personal account of spryltd.com is only possible after passing user confirmation.
This means that Spry-LTD requires its users to submit data such as:
- Information about an individual (passport, etc.);
- Information about the permanent place of residence (scans of utility bills);
- Information about the place of work, qualifications, experience.
In addition, during the initial payment, scammers are able to access card data.
In combination, this information can enable scammers to make a loan to a deceived trader, or to carry out other criminal frauds.
Since you need to transfer personal data to register on the spryltd.com website, our experts did not get access to the Spry-LTD personal account and Forex trading programs.
Opinions about Spry-LTD
The most important point of exposing Spry-LTD is the analysis of user reviews.
A detailed analysis of the search results on the Internet allowed us to obtain the following information:
- Most of the reviews and mentions of Spry-LTD on the Internet are fake. These are formulaic positive mentions of a custom type;
- All true reviews and references to Spry-LTD are bad. Our experts were unable to find true reviews and comments from users of spryltd.com, which mention serious income, effective trading.
- Negative mentions are caused by illegal activities, stealing money, creating debt.
Accordingly, real reviews of Spry-LTD indicate that the broker in question is a scammer.
Contact details and documents Spry-LTD
Studying the information on spryltd.com, our specialists saw a lot of dubious digital official papers that can be easily made using a graphic editor. They are not confirmed by official firms, which means they cannot be trusted.
If a broker is not associated with regulatory organizations, then its clients simply have nowhere to turn for help.
On the "Contacts" page, our experts found a phone number. It turned out that it had already been used by an illegal online broker. There are also many reviews on the web about fraudulent activities associated with the phone number listed on spryltd.com.
Withdrawing money from spryltd.com
Are you going to make money with a Forex broker? Make sure you can take money from him.
After analyzing the trade agreement on the Spry-LTD website, our specialists did not find clear information about the ways to withdraw earnings. In addition, our experts found a description of fees for a long inactivity of a personal account, but did not find information about their amounts. Since the bandits do not work in a legal field, it is impossible to cancel these fines.
Therefore, even if the client has completed work with Spry-LTD, they can call and spam with a demand to pay a fine.
How does Spry-LTD work?
Causes concern and the method of finding new users, which uses Spry-LTD.
For advertising, fake social media accounts are used, in which fake people report how they instantly managed to get income working on Forex through Spry-LTD. Fakes show expensive cars and clothes, trips to resorts, and other signs of a rich life.
Fakes promise a rapid increase in profits, for which you do not need to learn or make efforts.
When a user gets in touch with scammers, Spry-LTD employees report the possibility of a quick profit, as well as some unique features of their programs that allow you to earn serious money instantly.
After that, various tricks are used to get as much money from the trader as possible. For example, a client may be drawn a small profit to inspire them to transfer even more deposits.
When trading on the Forex market turns out to be unprofitable, a company representative will offer to invest even more in order to cover the losses.
Spry-LTD managers work according to guidelines developed by experienced psychologists. Criminals study information about a trader in order to act on vulnerabilities and get even more money.
In any case, it all boils down to one of the options:
- If you are going to get finance before you find yourself in loans, you will be charged fees, prohibited from using the account, and will do everything to force you to transfer more;
- When you allow bandits to drive into a credit account, threats will arise, scammers will begin to extort a non-existent debt.
An additional method to make a profit for Spry-LTD can be the transfer of your personal data to third companies. We think that, after that, information about you will be possible to acquire for a modest amount of money on some anonymous service on the shadow Internet.
Most likely, as a result of this, various scammers, sales managers, etc. will begin to spam you more often. You can also expect calls from Spry-LTD accomplices who will offer the "return" of lost deposits, of course for a bounty.
Since Spry-LTD does not operate in a regulated field and remains incognito, they cannot be forced to be liable under the law in the UK. The owners of the shadow organization are carefully hiding and, at best, law enforcement agencies will be able to arrest one of the "managers".
Should I trust Spry-LTD?
In no case!
If you plan to give finances to criminals, then it is better to spend them on a good deed.
Let's briefly list the facts that Spry-LTD are criminals:
- Lack of official registration;
- No test period;
- There is no information about the owners of the organization;
- The phone is seen in shady frauds;
- Negative balance;
- Credit ratio more than one to fifty;
- Negative reviews;
- False information on the site.
Our Spry-LTD review is over. Obviously, Spry-LTD are bandits.
We have compiled a list of brokers, that we recommend avoiding.