Broker Spry-LTD - Forex Scam!
The online broker Spry-LTD, which operates in the UK, is considered a scam with a damaged reputation.
If we go to the official website of Spry-LTD - spryltd.com, we will read that this company provides trading services on the Forex market in England. Spry-LTD also provides trading software.
Our specialists explored the Spry-LTD website, got acquainted with the terms of action, made attempts to get at least demo access to the services, looked at the existence of official papers, the region where the organization was registered.
With the help of this information, we will find out: Spry-LTD - a divorce or not?
In addition, we will tell you how not to get hooked by criminals, about their action algorithms. We will give you all the information you need to keep your finances safe.
Spry-LTD is located in an offshore country
A serious call that says that Spry-LTD is bandits - the state of registration. The company is officially registered in the Marshall Islands, which is already suspicious, since it operates in the UK. Offshore states attract the attention of criminals due to the lack of laws and regulation.
In addition, this country does not have permission to operate in the Forex market.
Moreover, when our experts tried to identify the address, information about the owners and directors of Spry-LTD, they could not find anything.
This hints that Spry-LTD is a shady online broker, interaction with which will result in significant financial losses.
No management information found spryltd.com
After examining the website, our experts could not find truthful data about the directors of the spryltd.com organization. No address, no phone numbers or other methods of contact.
Typically, this means that the actual directors are trying to hide themselves in order to hide themselves from being held accountable for their actions. If you manage to contact one of the employees of Spry-LTD, then this will all end, and the directors of the shadow company will remain at large.
Spry-LTD, website - Spry-LTD, is up for less than thirty days
The spryltd.com website speaks of serious experience in the Forex market.
The main method of checking the site is to obtain information about the domain. As a rule, they record the age of the domain, the contact information of its owner.
In our case, the Spry-LTD domain exists for less than thirty days, and all data about the legal entity that owns it is hidden. Another evidence that the organizers of Spry-LTD is trying to keep incognito.
This desire can be accepted, but not in those cases when it comes to a financial institution working as an intermediary between the user and the Forex market.
In addition to this, spryltd.com themselves assure users that they have been effective on Forex for a long time.
Spryltd.com has no demo period
It is a common practice for brokers to give traders a demo version of their services so that they can familiarize themselves with the interface and try out the possibilities in Forex operations with virtual currency.
Unfortunately, on the official website of Spry-LTD, we could not find information about the test period, the opportunity to try the software.
We assume that the organizers of spryltd.com are most likely not going to provide customers with trial access to paid software, as some of them may begin to suspect a scam.
Internet broker spryltd.com is operating with a negative score
Legal firms that trade on Forex do not use a negative account in their work. In accordance with the laws, the client of an online broker is not able to spend more than what is currently in his account. In cases where the balance still goes into the red, the debt will have to be repaid not by the user, but by the company that has provided its services.
Therefore, legal Internet brokers do not use a negative account in their work.
And yet, spryltd.com offers its clients work with a negative score, that is, in debt.
Why is it necessary?
To drive the trader into negative territory and extort him to repay the loan. This is one of the most common methods of deception used by scammers.
If this happens, you need to remember that scammers have no way to recover money under UK law. Any form of pressure on you is considered illegal. The most that scammers are able to do is to disturb with calls, write letters with demands.
You cannot work with Spry-LTD, as the agreements will result in losses.
Spry-LTD operates with a leverage of 1:400 or more
Already, it is clear that Spry-LTD are criminals. And yet, let's pay attention to one more nuance, namely the existence of excessively high leverage.
The credit ratio is the ratio of the finances of clients and brokers at the conclusion of a transaction. It makes it possible to close significant trading operations for traders who do not have the appropriate money.
To protect users of the Forex financial market, laws in civilized regions require the use of leverage with a maximum ratio of one to thirty, sometimes fifty.
At the same time, Spry-LTD applies a credit ratio of one to 400 for trading operations in the Forex financial market.
This relationship is allowed in Switzerland, as companies registered in this country enjoy great confidence. However, Spry-LTD is not registered in this State.
In fact, Spry-LTD is not allowed to trade Forex with such leverage due to the high risk to clients. Actually, this is used to force the user to give as much money as possible, but also to drive him into debt.
Spry-LTD Local Divisions
It is considered prestigious for a financial firm to have local branches in developed countries, even if the activity is carried out exclusively in Britain. So Spry-LTD informs that in addition to a significant number of awards, they have regional offices in the UK, Australia and other developed countries, and thousands of experienced workers.
Checking the reality of these branches is quite simple. Since profile structures are known that control the activities of brokers. In the UK it's FCA, in Australia it's ASIC.
Because of this, a law-abiding organization must have permits from these or other structures that confirm their ability to provide trading services on the Forex market, determine the degree of responsibility.
However, when we checked the industry sites, we did not find them. This once again reinforces the fears.
To register on spryltd.com, you need to transfer personal data
As we reported earlier, Spry-LTD does not have a demo period and, accordingly, in order to gain access, you must immediately transfer the minimum deposit to Spry-LTD scammers. Also, access to the spryltd.com personal account is possible only after passing the client verification.
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 qualifications, place of work, experience.
In addition, during the initial transfer, the bandits can access bank account data.
Combined, this data can allow scammers to smuggle a trader a loan or engage in other criminal scams.
Since registration on the spryltd.com website requires the submission of personal information, our experts have not been able to access the Spry-LTD personal account and Forex trading software.
Real reviews about Spry-LTD
An important point of exposing Spry-LTD is the study of user reviews.
A detailed study of the search results allowed us to obtain the following data:
- Most of the Spry-LTD reviews on the internet are lies. These are the same positive reviews of the paid type;
- All truthful mentions and comments about Spry-LTD are negative. Our experts were unable to detect mentions and comments from former users of spryltd.com that mention earnings, effective trading.
- Bad mentions are associated with fraudulent activities, theft of deposits, special creation of debt.
Therefore, real reviews of Spry-LTD report that this broker is a criminal.
Spry-LTD contact details and official papers
While studying the data on spryltd.com, our experts saw a lot of dubious digital official papers that can be easily made using a graphic editor. They are not confirmed by official companies, which means they cannot be trusted.
If the broker is not associated with regulatory firms, then users 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 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 the help of a Forex broker? Make sure you can take money from him.
Studying the trade agreement on the official website of Spry-LTD, we did not find specific information about the methods of withdrawing earnings. In addition, we found a mention of requisitions for a long period of inactivity of the account, but there was no information about the sizes. Since scammers do not operate in the legal field, it will not be possible to cancel these fines.
That is, even if the client has completed cooperation with Spry-LTD, they can call and write letters demanding to pay the fine.
How does Spry-LTD work?
The user search method used by Spry-LTD is also alarming.
For promotion, fake social media accounts are used, in which fake bloggers talk about how they instantly managed to get rich by trading Forex using Spry-LTD. Advertising profiles show expensive cars and clothes, travel to resorts and other signs of a prosperous life.
Fakes promise instant earnings, for which you do not need to learn or make efforts.
If a potential trader gets in touch with scammers, Spry-LTD managers talk about the reality of rapid income, and in addition about some unique features of their programs that will make it possible to immediately earn a solid income.
After that, all sorts of tricks go into work, making it possible to get the maximum money from the client. For example, a fake profit can be arranged for the user in order to provoke the transfer of more investments.
When trading on the Forex market becomes unprofitable, the manager will recommend transferring more in order to compensate for the minus.
Spry-LTD employees act according to scripts that were developed by experienced manipulators. Fraudsters study user information in order to influence vulnerabilities and get more money.
In any case, all this will come to one end:
- When you decide to withdraw money before you find yourself in loans, you will be charged fines, freeze your account, and do everything to make you pay even more;
- When you give the opportunity to scammers to drive the balance into debt, threats will fall, scammers will begin to demand the return of a fake debt.
Another way to make a profit for Spry-LTD is to sell your personal data to interested companies. We think that, after that, it is possible to obtain complete information about you for a modest amount of money on some anonymous service on the shadow Internet.
It is likely that as a result of this, various bandits, sellers, etc. will begin to write to you. It is also worth waiting for letters from spryltd.com accomplices who will offer the "return" of lost finances, of course, for a fee.
Since Spry-LTD does not operate legally and remains anonymous, they cannot be forced to answer under the law in the UK. The organizers of the shadow company skillfully hide and in the best case, the police will be able to figure out one of the "administrators".
Is it worth working with Spry-LTD?
If you plan to transfer finances to scammers, then it is better to give them to charity.
Let's briefly voice the evidence that Spry-LTD are criminals:
- No official registration;
- No demo period;
- Lack of data on the owners of the organization;
- Phone number revealed in criminal schemes;
- Negative balance;
- Leverage greater than 1 to 50;
- Bad reviews;
- False information on the website.
Our Spry-LTD review is complete. Obviously, Spry-LTD are bandits.
You can check out the full list of brokers to bypass.
Steven Norton 18.11.2020
I joined just two years ago and after 2019 the 2020 looks like a complete disaster. Even here with Delta Markets. Hope it will all end as something good.
Shelton Victor 24.11.2020
Remember, always control your panic. If you analyze the market, you will see the mass movements after the minor events caused by a panic. Yes, market is made from greed and fear. Be frank and analyze your pat trading: you can see many your moves were pushed by greed. You just running circles, and you need to break it. Control your emotions and look at crowd behavior to stay away and make your profits.
Lloyd Nigel 27.11.2020
Hi all, I am registering with Delta Markets and now on verification stage. Delta Markets is a good pick for me for number of reasons including privacy angle. My question relates to bank transfer. I am the UK resident and Delta Markets does not work with GBP, just euro and $. What should I do for money withdrawal? If I withdraw $$, will it land to my GBP account? Thank you
Garry Johnson 30.11.2020
Got my withdrawal as a surprise after the Halloween. I still think that verification is hard but I’ve checked and looks like them all brokers have the same procedure for it
Fleming Franklin 03.12.2020
Have heard so much about the dangers of the forex trading market and scam brokers, so I was not really sure I am ready for this. Well, I just started my cooperation with Delta Markets. At the first glance, they are a decent bunch of folks. I wish them luck to keep going. There are not too much that kind of guys nowadays. Let's hope they will keep doing good in the future.
Smith Joshua 08.12.2020
When you ask about some weak sides or pain points with Delta Markets, I even do not know what to do. Of course, Delta Markets has some minor issues. For example, many traders complaint on the slow withdrawal. Sometimes the technical support is not perfect. But frankly speaking, I don't think any trader should be really worried or upset about this.
Phelps Allen 11.12.2020
Yeah, sure, this broker really have some flaws. I’d consider this as the typical mistakes of the newbie: they are new on the market and do not know some narrow places. Their terms of cooperation are great, spreads are low, and in general the % of bureaucracy is minimal. These virtues easily overshadow all flaws. I love working with Delta Markets and have a long plans for them.
Love how fast their support crew works. Contacted them for money transfer to my country, pure delight! Terms and timing of money withdrawals work for me also, so I can think of Delta Markets as one of the best brokers out there.If you failed to get that result, that is your lack of skills, not theirs
Rufus F. 18.12.2020
Good functionality, low commissions. Lots of features to help you increase your income. You can master the method pretty quickly. I don't always manage to take advantage of the right moment. Hope this comes with experience.
Vincenzo Rosario 23.12.2020
This is the best trading service. Asset liquidity is high. Buy and sell profitably. Low spreads. An intuitive terminal. Recommend!
Jarred Burt 29.12.2020
Don't rely on positive reviews alone. It is such an activity that success is next to defeat and loss. You need to understand that you are taking risks. Therefore, trust in the broker is important. There are enough interesting opportunities for making quick money here.
Eliot Cuevas 02.01.2021
The disadvantage of the service is delays in the withdrawal of earned money. I was on hold for 11 hours! Damn it, why does every broker's money freeze sooner or later? The support team gave me a consultation, they promised to resolve the issue within half a day. In practice, they invested in time.
Tobias Francis 07.01.2021
As for me, I have no complaints about delays. Whoever burst into tears about the problems with the withdrawal of money, just never got into scams. In this case, you need to risk exactly the amount that you can afford to lose painlessly. This market is tough. There are plenty of scammers. There are no complaints about this broker - the team works around the clock. Delays are resolved quickly.
Ephraim Richards 13.01.2021
I want to thank the support team for how they solved my problem yesterday. Thank you, you are the best! I'm used to the fact that contacting support means days of waiting, correspondence with geeks, vague answers and promises to solve everything someday. "This is in development ..." "our specialists are just busy ...". If they answer at all. When you get an immediate response and hear clear, concrete wording, it’s priceless. Also, everyone here is polite, which is also important for a good user experience.
Tarun Mcpherson 16.01.2021
No complaints. Mistakes here are common for this market segment. Somewhere you lose a little, but there is always an opportunity to return. This broker works well, knows the market . I always rely primarily on my skills and experience. And flair. I need a broker to be more confident. Not all market trends can be seen, especially now. Due to the situation with the pandemic, the financial market is volatile. So I feel more confident with a broker.
Peter Gough 22.01.2021
It`s not known what will happen to the market tomorrow. Earn who can! I am willing to take risks, but so that the chances of making a profit are greater than the chances of losing. By the way, have you noticed how many brokers have appeared? Everyone wants to cash in! I`ve been working with this broker for a long time. This is an honest broker. You can earn without any risk. I believe that stability in the market will once again become achievable. But until then, we must not lose our money! We must multiply them!
Brayden Morse 30.01.2021
I have been trading with this broker for many months. A couple of times I had to contact support. Once my money was not withdrawn. Then the system hung. Everything was fixed quickly, I confirm. I enjoy working with this team. There are good people here.
I see a lot of good reviews. But little specifics, guys! I understand that no one can share their strategy. But at least tell me, are their spreads really that low or am I dreaming about?
Benjamin Bates 05.02.2021
I am constantly on the move. It is very important for me that I can trade from any device, not just at home on a computer. This is the undoubted advantage of this broker.
S. B. 12.02.2021
Experience shows that usually a broker promises one thing, and the market makes its own changes to these promises. In my experience, these guys won't try to trick you. But you also have to learn new trading techniques if you want to earn more and expand the framework of your familiar strategies.
The margin trade is great ... the opportunities are great. I highly recommend trying it. And if you are scared, then there are enough other functions that can build a strategy without loans.
Matthew Park 25.02.2021
Fantastic promises are for scam services. Where you see unrealistic opportunities for trading loans – this is definitely a sign of a site that simply will not pay you back your money. Be reasonable come on
I am not ready to deal with a platform that does not have the possibility of margin trading. This is where the real fight begins! There is always a chance to get more. I love it!
This broker uses a good way to attract clients: it offers short contracts, as well as great opportunities even for demo accounts. At the same time, the functionality is very developed and experienced trader has something to learn on this trading platform.
Wow, what an attentive attitude towards newbies here! Уou have a demo account and tools for good trading from the start. And teaching basic strategic moves. This is what it means to achieve customer success.
Are there those who have just registered? I did it today. I want to understand how beginners feel here, what it is better to pay attention to from the very beginning. And what problems may arise with the service, if any.
de Lucas 16.03.2021
If you find a better broker, write directly here. They are not afraid of competition! I've been working with them for seven months, as well as several of my friends. Everyone is very happy so far. And in general, local guys can even advise you on another broker if something does not suit you. But there is little to complain about.
Paul McKinney 24.03.2021
You can come to this site for adequate conditions. Open a demo account to understand the basics. Still, there are more opportunities when you get promoted. I recently started practicing margin trading. All right.
Here we see a good leverage ratio. Not too tall (I would be very surprised). Not so as not to be interesting. This is a good level for users who are counting their money.