SR Trade Forex makes a lot of noise about dependability, monetary security, and global asset protection, yet they make no reference to a license or permission. And to make matters worse, the website is included on the British financial authorities’ most recent warnings list, which is a blatant sign that we are dealing with a hoax.
Overview
| Leverage | 1:1000 |
| Regulation | No |
| Headquarters | UK/ SVG |
| Minimum Deposit | $100 |
| Review Rating | 1/5 |
| Platform | MT5 |
| Spread | n/a |
Is SR Trade Regulated?
When we searched the database of the UK’s financial authority, the FCA, we discovered that SR Trade Forex does not have permission to provide financial services. This information was discovered really fast. Even more recently, the regulatory body has issued a warning suggesting that your money may be at risk if you choose to work with this particular firm. Take this warning carefully and steer clear of SR Trade Forex at all costs, since that is our recommendation.
Warnings From Financial Regulators
Remember that any broker operating on British territory should have a valid FCA license, and if it does not, as it does in this instance, despite having a supposed London location, it is likely an anonymous fraud. You should concur with us that you simply have no reason to believe anything the broker may claim, including whether or not its alleged corporate address is real if you cannot confirm the identity of your new broker by comparing it to the information in the registers of any official regulatory authority.
SR Trade Forex is not approved by us and is primarily aimed at UK residents, according to British financial regulators. You won’t be covered by the Financial Services Compensation Scheme (FSCS) or have access to the Financial Ombudsman Service, so you won’t be likely to get your money back if anything goes wrong.
Is SR Trade Can Be Trusted?
We’ve previously shown that SR Trades are not subject to UK financial regulators’ oversight or approval. Additionally, as we have said in the table above, the leverage is really significant. It is safe to say that SR Trade can no longer be trusted after viewing all of these issues.
What kind of currency pair do they offer?
SR Trade offers forex pairs, cryptocurrency, indices, and commodities.
Customer Support
As we already see that they don’t have any kind of real contact information on their website. Their mentioned address on the website is identified as a criminal-prone location in Google My Business and they don’t actually receive any calls on their phone number. Also, they don’t reply to any emails. When they think that you might be a good fit for their scam, they will call you and they also pick up the call until you talk about withdrawing your profit.
Trading Method (MT4 or MT5)
The well-known MetaTrader 5 trading platform appears to be one of the greatest ones available at SR Trade Forex. But it was clear to us right away that this wasn’t the broker’s actual trading interface. This terminal belongs to a completely different broker—the reputable, Cyprus-based Admiral Markets.
As far as we know, there was no connection between SR Trade Forex and Admiral Markets; thus, the major character of this review simply opted to utilize another company’s terminal and make the false claim that it genuinely owns trading software. The terminal and the license for it belong to a completely separate broker, hence the reality is different.
MT5 is a fantastic trading platform, but you should pick one of the authorized brokers who provide you access to it.
What Do Traders Think Of SR Trade?
Following an examination of internet forums and social media sites, we discovered that a number of dissatisfied traders have been vocal about SR Trade’s dubious financial operations. On our website, we also received a lot of complaints about SR Trade.
What To Do If You Get Scammed?
Change all of the passwords and financial information you have given the con artists access to first. Remove the program right away if you’ve granted them remote access to your computer.
If you made a deposit using a Visa or MasterCard card, request a chargeback. Both card companies work to combat fraud and permit such requests within 540 days.
Finally, share your story with us by submitting a report to us. We will evaluate the case and will provide you with a free consultation to recover your money. For that, we will suggest you some good recovery companies.
File A Complaint Against SR Trade & Get Free Consultation
Final Thoughts
It is far more difficult to get your money back if you used a wire transfer or an electronic payment solution, but you should still contact your bank or the company that provides your payment method to see what can be done.
Notify the authorities, and share your experience online and with your friends so that more people are aware of these scams and will attempt to avoid them.
