Is SRB Group a scam broker?
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SRB Group used to be called Swiss Royal Banc, is owned by Green Tree Holdings and is based in the UK and is a non-financial company but is broking for binary options trading.
SRB runs on the SpotOption trading platform. It is claimed to provide full service to its traders. It provides only one account type which is available for a minimum deposit of $100.
It accounts currency for deposit is EUR and USD. Once the currency is chosen for the first time it cannot be changed, so select the currency which you are comfortable in. You can register on the website free of cost. As there is no demo account the trader has to make a deposit to experience all the features that the site has to offer.
An exclusive 10 percent bonus is offered to traders as a part of the special promotion. But the required turnover has to be 30X to claim it. But certain thing remains unclear, that is will the 10 percent exclusive bonus will be added or not in general bonus? Most of the internet scam revolves around the bonus they give and turnover needed for withdrawal which is virtually impossible to achieve. It is better for trader to clears his doubt from the company regarding pros and cons of bonus. Mostly companies do not put anything clear regarding bonus T&C.
The support system is one of the important components for every broker. The customer support staff should be well educated to reply queries posted by traders. Support system offered by SRB is the phone, online form, and email. They have phone numbers for the UK, Australia, Switzerland, and Canada. They do not have live chat. Live chat is one of the best and quick customer support as it helps traders gain the quick support for their problems.
The website is available in English, Arabic, and Russian. Education section is OK but not too good. They can improve upon it if they wish to grow and educate new traders who wish to join them. Traders often see videos and webinars as a sign of reliable broker.
SRB is a scam broker as it is not registered even by FINMA’s which is Swiss financial regulator. Forget about being registered with known regulators like CySEC, ASIC or FCA. Regulation is one of the key elements of broker’s credibility in the financial world.
SRB Group’s core business comprises of mining, metallurgy, power and water, oil and gas, construction and agri machinery, aviation and IT. Binary options broking was their first step towards financial brokerage services.
The company offers Up and Down options (UDO’s). They named in such a way because binary options have made a bad name for it and they wanted to distance from the words binary options trading. It has become a negative connotation with some people. Many people see that binary option is a scam.
The company is not too transparent about the key services that they are offering on their website. Things are too shady and hush-hush.SRB is a scam broker as one can see many negative comments in the comment section on many sites, forum, and community boards. MyChargeBack can help and guide you step by step to recover your money from scammers, fraudsters, and cheats. The broker is closed.