Broker Spry-LTD - Forex Scam!

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Maximilian Pitts07 / March / 22

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?

Never!

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.

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Maximilian Pitts

Maximilian Pitts 54 years old Born in Belfast. Not married. Studied at the University of Oxford, Department of Politics and International Relations from 1989 to 1994. He works for WPP.