Spry-LTD is a scammer disguised as a broker!
07 / March / 22
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UK-based online broker Spry-LTD is a scam with a tarnished reputation.
When we get to the official website of Spry-LTD - spryltd.com, we will read that this company offers brokerage services for trading operations in the Forex financial market in Britain. Spry-LTD also offers financial action programs.
Our employees analyzed the Spry-LTD website, got acquainted with the working conditions, made attempts to get test access to the software, analyzed the existence of securities, the region of the company's residence.
With the help of the data obtained, we will find out: Spry-LTD - a divorce or not?
In addition, we will explain to you how not to fall into the trap of scammers, about their algorithms of actions. We will tell you the necessary information in order to keep your finances safe.
Spry-LTD is located in an offshore country
The main signal that spryltd.com is a scam is the country of registration. The organization is officially registered in the Republic of the Marshall Islands, which is already suspicious, since the company operates in England. Offshore states attract the attention of criminals due to the lack of legislation and control.
In addition, this state does not have the rights to operate on Forex.
Moreover, when our experts tried to find the legal address, information about the owners and management of spryltd.com, they were unable to find anything.
This hints that spryltd.com is a fake broker, cooperation with which will result in serious financial losses.
Could not find management information spryltd.com
After researching the website, our experts were unable to find any credible information about the owners of the organization spryltd.com. No addresses, no phone numbers or other means of contact.
This probably means that the actual owners are trying to hide information about themselves in order to hide from responsibility for actions. If one of the employees of Spry-LTD can be exposed, then everything will end there, and the actual organizers of the shadow organization will remain at large.
Spry-LTD, official website - spryltd.com, has less than thirty days of existence
The official site spryltd.com talks about the extensive experience of operating in the Forex market.
The main way to study any website is to get information about its domain name. As a rule, they indicate the age of the domain name, information for contacting its owner.
In our case, the Spry-LTD domain works for less than thirty days, and all data about the legal entity that owns it is hidden. Another evidence that the director of Spry-LTD is trying to preserve anonymity.
This desire can be understood, but not when it comes to an organization working as an intermediary between the user and the Forex market.
At the same time, Spry-LTD assures clients that they have been successfully operating in Forex for a long time.
Spryltd.com does not have a demo period
It is a common practice for brokers to provide traders with a demo version of their services so that they can familiarize themselves with the interface, try their hand at Forex operations with fake currencies.
Unfortunately, on the website spryltd.com, we did not find information about the trial period, the opportunity to try the software.
We think that the owners of the Spry-LTD organization are most likely not going to give customers trial access to their service, as some of them may suspect a scam.
Broker Spry-LTD operates with a negative score
Registered firms that operate in the Forex market do not use a negative balance in their work. By law, a broker's trader is not able to spend more than what is currently in his account. In cases where the account goes into a negative value, the debt will have to be repaid not by the trader, but by the company that provided the services.
Therefore, official online brokers do not use a negative balance in their work.
And yet, Spry-LTD provides customers with Forex operations with a negative balance, that is, on credit.
Why is this needed?
In order to drive the user into a loan and start demanding repayment of the loan. This is one of the most commonly used scam methods used by bandits.
If this has already happened, it must be remembered that deceivers have no way to knock out investments in accordance with the laws of England. Any methods of pressure on clients are considered criminal. The most that scammers are capable of is to disturb with calls, write messages with demands.
You cannot work with spryltd.com, because all agreements will result in new losses.
Spry-LTD operate with a credit ratio of 1 to 400 or more
Already now, it is clear that Spry-LTD are scammers. However, let's point out another fact, namely the presence of an extremely large leverage.
The credit ratio is the ratio of the finances of clients and online brokers at the conclusion of a trading operation. Leverage makes it possible to close significant trading operations for traders who do not have the appropriate funds available.
To protect Forex users, in developed countries, the current laws provide for the use of leverage with the largest ratio of 1 to thirty, sometimes 50.
At the same time, Spry-LTD uses a credit ratio of one to four hundred for trading on the Forex market.
This ratio is legalized in Switzerland, since firms registered in this country enjoy high confidence. But Spry-LTD is not registered in this state.
In fact, Spry-LTD is not allowed to trade in the Forex financial market with such a credit ratio, due to the high risk to users. Accordingly, this is done in order to force the client to transfer as much of his own money as possible, but also to drag him into debt.
Spry-LTD Local Divisions
It is considered prestigious for every firm to have local offices in developed regions, even if the activity is carried out only in Britain. Therefore, Spry-LTD reports that in addition to an impressive number of awards, they have regional divisions in Britain, Australia and other civilized regions, as well as many competent workers.
Checking the availability of these branches is easy. After all, there are industry organizations that regulate the activities of Internet brokers. In England, this is FCA, and for example, Australia - ASIC.
Because of this, a legal organization must have permits from these or other structures that will confirm their right to provide services for making money on the Forex market and regulate the degree of responsibility.
However, after analyzing specialized sites, our employees could not find them. Which once again reinforces our suspicions.
To register on spryltd.com, you need to transfer confidential data
As we mentioned earlier, Spry-LTD does not have a trial period and therefore, in order to gain access, you must immediately pay the Spry-LTD scammers the minimum payment. Also, to get access to the personal account of spryltd.com, it is really only when passing the client confirmation.
This means that Spry-LTD requires customers to provide information such as:
- Information about an individual;
- Information about the permanent place of residence (receipt for a communal apartment);
- Information about the place of work, qualifications, experience.
In addition, with the first payment, fraudsters are able to access personal account data.
As a result, this data may enable bandits to make a loan to a gullible trader, or to carry out other criminal operations.
Since for registration on the official website of spryltd.com, you need to transfer your personal information, we were not able to get access to the personal account of Spry-LTD as well as services for trading on Forex.
Real reviews about Spry-LTD
The most important step in exposing Spry-LTD is the study of user reviews.
A thorough study of the issuance in search engines 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 true references to Spry-LTD are bad. Our staff could not find credible testimonials and references from former spryltd.com clients that mention high income, successful activities.
- Bad reviews and mentions are caused by illegal activities, money theft, special debt creation.
According to this, real reviews of Spry-LTD report that this online broker is a scam.
Contact details and documents Spry-LTD
Analyzing the data on spryltd.com, we found many questionable digital white papers that can be easily done with a graphics editor. They are not confirmed by official companies, which means they cannot be trusted.
If an Internet broker is not associated with regulatory firms, then traders simply have nowhere to turn for help.
On the "Contacts" page, our employees 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 an online Forex broker? Make sure that you can take away investments from him.
After analyzing the trading agreement on the Spry-LTD website, our specialists did not find clear information about the methods of withdrawing money. In addition, our experts saw a description of punishments for long-term inactivity of a personal account, but did not find any information about their size. Since scammers do not work in the legal field, it will not be possible to cancel these fees.
Because of this, if a trader stops working with Spry-LTD, they may start to be disturbed by calls and spam with a demand to pay a fine.
How does Spry-LTD work?
The user search method that Spry-LTD uses also raises concerns.
For promotion, false social media accounts are used, in which fake users report how they quickly managed to get rich by making transactions in the Forex financial market using Spry-LTD. Non-existent people show expensive cars and houses, travel to resorts, and other indicators of a rich life.
They promise instant earnings, for which you do not need to study or put a lot of effort.
When a user comes into contact with criminals, Spry-LTD employees talk about the reality of instant earnings, as well as some unique features of their software that will make it possible to instantly earn serious income.
Then various tricks are used to get as much investment from the client as possible. For example, a user may be given a fake profit in order to provoke even more investment.
When Forex trades turn negative, a company representative will offer to transfer even more in order to compensate for the negative.
Spry-LTD managers act according to manuals developed by professional manipulators. They study information about the trader in order to act on vulnerabilities and get more investment.
One way or another, all this will lead to one of two endings:
- When you decide to withdraw the money before you find yourself in loans, you will be charged fees, prohibited from using the assets, and will do everything to force you to pay more;
- If you allow the bandits to drive the account into debt, threats will begin, scammers will begin to extort the return of a non-existent loan.
Another method to make a profit for Spry-LTD may be the transfer of your personal data to third parties. We assume that, as a result, comprehensive information about you will actually be purchased for a modest amount of money on some anonymous service on the dark web.
It is likely that after this, all kinds of scammers, managers, etc. will write to you more often. In addition, you should wait for messages from Spry-LTD accomplices, who will begin to offer "receiving" the lost money, of course for payment.
Since Spry-LTD does not operate in a regulated field and remains anonymous, they cannot be forced to respond under current law in the UK. The organizers of the fraudulent company are diligently disguised and, in the best case, law enforcement agencies will be able to arrest one of the “employees”.
Is it worth working with Spry-LTD?
Never!
If you plan to give finances to bandits, then it is better to spend them on a good deed.
Let's briefly review the evidence that Spry-LTD is a scammer:
- Lack of official registration;
- No demo period;
- There is no information about the owners of the company;
- Phone number revealed in shady fraud;
- Negative score;
- Credit ratio over 1 to 50;
- Bad reviews;
- False information on the website.
This completes the Spry-LTD review. Obviously, Spry-LTD are criminals.
For your safety, we have compiled a complete list of unscrupulous brokers.
