Spry-LTD is a scammer disguised as a broker!
By The Forex Review - 07 / March / 22 572
Dominick Bell
Broker Spry-LTD, which operates in Britain, is considered a criminal with an unclean reputation.
When we go to the official website of Spry-LTD - spryltd.com, we will find that our organization offers Forex trading brokerage services in the UK. In addition, Spry-LTD offers services for financial activities.
Our employees looked at the Spry-LTD website, got acquainted with the working conditions, made attempts to get at least demo access to the programs, studied the availability of official documents, the place of registration of the company.
With the help of the information received, we will find out: Spry-LTD - a divorce or not?
In addition, we will explain to you how not to get into the networks of scammers, about their methods of action. We will give you the information you need to keep your finances safe.
Spry-LTD is located offshore
The first sign that Spry-LTD is a scammer is the region of residence. Documentally, the company is registered in the Marshall Islands, which is already suspicious, since the company operates in Britain. Offshore states are popular with deceivers due to the lack of the need to comply with the law and supervision.
In addition, this region does not have rights to work on Forex.
Also, when our specialists tried to find the legal address, mentions of the owners and management of Spry-LTD, they could not find anything.
This already suggests that spryltd.com is a criminal broker, working with which can result in significant financial losses.
Spryltd.com organizer information not found
After analyzing the official website, our experts have not been able to find true information about the owners of Spry-LTD. No legal address, no phone numbers or other methods of communication.
As a rule, this means that the actual owners are trying to hide information about themselves in order to elude responsibility for their actions. And even if you manage to contact one of the managers of Spry-LTD, then everything will end with this, and the actual directors of the fraudulent organization will remain free with the money.
Spry-LTD, the official website is Spry-LTD, has been around for less than a month
The Spry-LTD website speaks of many years of experience in the Forex market.
The most common way to check any site is to obtain information about its domain name. Usually, they contain the duration of the domain name, information for contacting its owner.
In a specific case, the spryltd.com domain name has been operating for less than 30 days, and all data about the legal entity that owns it is classified. Another evidence that the owners of Spry-LTD are trying to preserve their incognito.
Such a desire can be supported, but not when it comes to a company working as an intermediary between the user and the Forex financial market.
At the same time, Spry-LTD assure users that they have been working effectively in Forex for many years.
Spryltd.com does not have a trial period
It is a normal practice for online brokers to give users a demo version of their services so that they can get acquainted with the interface and try out their skills in trading on the Forex financial market with fake currencies.
Unfortunately, on the spryltd.com website, we did not find any mention of a trial period, the ability to test the software.
We assume that the organizers of the Spry-LTD organization most likely do not plan to provide traders with trial access to a paid service, as someone may begin to suspect something is amiss.
Broker spryltd.com works with a negative account
Official companies that operate in the Forex financial market do not use a negative balance in their work. By law, the client of an online broker cannot spend more than what is currently on his account. In those situations when the account still goes into negative territory, the debt will be paid not by the client, but by the company that offered its services.
Therefore, legal brokers do not use a negative balance in their work.
And yet, spryltd.com provides its traders with a negative account, that is, on credit.
What is it for?
In order to drive the client into debt and repay the loan. This is one of the most common methods of deception used by financial bandits.
If this has already happened, you need to know that scammers do not have the opportunity to knock out finances under UK law. Any form of pressure on you is illegal. The most that bandits are capable of is calling, sending letters with threats.
You cannot cooperate with spryltd.com, as attempts to negotiate will result in new losses.
Spry-LTD operate with leverage of 1 in 400 or more
Already now, it becomes obvious that Spry-LTD are scammers. However, let us point out one fact, namely the existence of extremely high leverage.
The credit ratio is the ratio of the funds of traders and brokers at the conclusion of a trading operation. It makes it possible to close large trade transactions for traders who do not have the appropriate money freely available.
In order to protect users of the Forex financial market, in civilized countries the legislation provides for the use of a credit ratio with a maximum ratio of 1 to 30, in exceptional cases fifty.
At the same time, Spry-LTD uses a credit ratio of 1 to 400 for operations in the Forex financial market.
This ratio is legalized in Switzerland, as firms registered in this country enjoy high confidence. However, Spry-LTD is not registered in that country.
In fact, Spry-LTD has no right to operate in the Forex financial market with such a credit ratio, due to the high risk for clients. Actually, this is used to force the trader to invest more money, but also to drag him into debt.
Spry-LTD Local Offices
It is considered important for any financial organization to have local offices in civilized countries, even if the activity takes place exclusively in England. So Spry-LTD reports that in addition to many awards, they have regional offices in the UK, Australia and other developed countries, and in addition about many experienced employees.
Checking the availability of these branches is elementary. Since there are specialized organizations that control the actions of brokers. In the UK it's FCA, in Australia it's ASIC.
Accordingly, an official organization must have permits from these or other structures that confirm their authorized right to provide services for trading operations on the Forex market, indicate the level of responsibility.
However, after analyzing specialized web sites, our experts did not find them. Which once again confirms our suspicions.
Registration on spryltd.com requires the transfer of confidential data
As we mentioned earlier, Spry-LTD does not have a trial period, and therefore, in order to gain access, you must immediately transfer the minimum deposit to the Spry-LTD bandits. Also, access to the spryltd.com personal account is possible only upon successful completion of the client verification.
This means that Spry-LTD requires users to submit data such as:
- Information about an individual (passport, driver's license, etc.);
- Information about the permanent place of residence (receipt for a communal apartment);
- Data about qualifications, experience, place of work.
Also, with the first payment, fraudsters can get access to card data.
As a result, this information may allow fraudsters to hang a loan on a client, or to implement other criminal frauds.
Since you need to transfer personal data to register on the official website of spryltd.com, we were never able to access the Spry-LTD personal account and Forex trading applications.
Opinions about Spry-LTD
An important step in exposing Spry-LTD is the analysis of user feedback.
The search engine results yielded the following data:
- Most of the reviews and references to Spry-LTD online are fake. These are similar positive reviews and comments of a paid type;
- All real reviews about Spry-LTD are negative. Our experts were unable to find credible testimonials and references from former users of spryltd.com, which would mention a large profit, effective operation.
- Negative reviews and comments are caused by fraudulent activities, investment theft, special credit creation.
Accordingly, reviews of Spry-LTD indicate that this online broker is a scam.
Contact Information and Papers Spry-LTD
Analyzing the data on spryltd.com, our staff found many questionable digital white papers that can be easily done with a photo editor. They are not confirmed by official firms, which means they cannot be trusted.
If a broker is not associated with regulatory companies, then its traders simply have nowhere to turn for help.
On the "Contacts" page, our specialists identified a phone number. It turned out that it had already been used by an illegal Internet 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 the Forex financial market online broker? Make sure that you can take away investments from him.
After analyzing the user agreement on the Spry-LTD website, we did not find any information available on the methods of withdrawing money. Also, our employees saw a description of penalties for long-term account inactivity, but there was no information about their amounts. Since criminals do not work in the legal field, these fees cannot be canceled.
Therefore, even if the client has ended cooperation with Spry-LTD, they can start calling and writing letters demanding to pay the fine.
How does Spry-LTD work?
The way Spry-LTD uses to search for users is also alarming.
For advertising, false social media accounts are used, in which fake bloggers talk about how they instantly managed to make a profit working in the Forex financial market through Spry-LTD. Advertising profiles show expensive cars and clothes, holidays in resorts, and other indicators of a rich life.
Non-existent people guarantee instant profit growth, which does not require training or effort.
If a trader gets in touch with scammers, Spry-LTD employees confirm the reality of a quick income, and also about some unique abilities of their programs that allow you to instantly get a serious income.
Then various tricks come into play to get the most money from the trader. For example, you can arrange fake profits in order to motivate you to give more money.
When work in the Forex financial market becomes unprofitable, a representative of the organization will recommend transferring more to compensate for the losses.
Employees of Spry-LTD, act according to the methods created by professional deceivers. Scammers analyze information about the client in order to influence vulnerabilities and get more money.
As a result, it all comes down to one of two ends:
- When you are about to withdraw your investment before you are in debt, you will be fined, your balance will be closed, and everything will be done to force you to pay more;
- If you allow swindlers to drive the account on credit, there will be threats, bandits will extort the return of a non-existent loan.
An additional method to generate income for Spry-LTD can be the sale of your confidential information to interested companies. Most likely, after that, information about you will actually be bought for a modest amount on some anonymous community on the shadow Internet.
Most likely, because of this, all sorts of criminals, managers, etc. will start writing to you. You can also wait for letters from spryltd.com associates who will offer to "receive" lost deposits, of course for a reward.
Because Spry-LTD does not operate legally and maintains anonymity, they cannot be forced to respond under current UK law. The leaders of the shadow organization are skillfully hiding and in the best case, the police will be able to arrest one of the "employees".
Should I trust Spry-LTD?
It is forbidden!
Only if you are going to transfer money to scammers, then it is better to transfer them to a good cause.
Let's briefly list the evidence that Spry-LTD are scammers:
- No official registration;
- No trial period;
- There is no information about the owners of the company;
- Phone number found in illegal schemes;
- Negative balance;
- Credit ratio greater than one to fifty;
- Negative reviews;
- False information on the official website.
Detailed review of Spry-LTD - finished. Obviously, Spry-LTD are criminals.
For your safety, we have compiled a blacklist of brokers.
