Forex

SRB Group Review - Is it scam or safe?

SRB Group Review - is srbgroup.com scam or safe forex broker?
1 5 RATING
Find Better Binary Broker
0 REVIEWS

 

 Basic Information

SRB Group is a company which offers UDOs. This stands for Up and Down options, which is in essence the same as binary options. We suspect the choice of wording may be deliberate, as an attempt to distance the company from the very words "binary options", as this term has a bit of a negative connotation for some people. Other than that, the company's website lacks key information, regarding their services, at the time of writing of this review.

 

Trading Accounts

 

There is no information on the account types, offered by SRB. This is highly unusual, as companies like to place as much information as possible on their websites.

 


The Company. Security of Funds

SRB Group used to be called Swiss Royal Banc. The company is not regulated, and furthermore was added to FINMA's (the Swiss financial regulator) blacklist, as it used to target Swiss clients, without the appropriate licensing. Both of these are huge red flags for us, as well as the fact, the company even had to change its original domain and branding. If this wasn't enough, there are several complaints against them on popular forums.

 

Several sources link the company to GreenTree Holdings, a UK based non-financial (by its filings) company. 

 

Regulation is a key element of a broker's credibility. Most countries have financial regulatory agencies, who oversee forex brokers. When it comes to binary options, the situation is not that clear, as they usually do not fall under the same laws. The Cyprus Securities and Exchange Commission (CySEC) is one of the few watchdogs who oversee binary options, but this may not be the case soon. In other jurisdictions, binary options are treated as gambling and the appropriate rulings are applied.

 

Trading Conditions

 

Trading Options: Call/Put (called UDO), Paris (which pairs two related assets in a new pair, for example: Gold vs Silver), Long term, 60 seconds, One TouchLadder

Assets:  Currencies, Commodities, Indices, Stocks

Expiry times: 60 seconds to months in advance

 

Minimum Initial Deposit

SRB Group has set its minimum deposit at 100 EUR (or USD). This is a reasonable amount, although there are binary brokers demanding even less. One such company is FinaCom-regulated Grand Capital which has set the entry bar at $10.

 

Min. bet size

There is no information on the minimal bet size ar SRB Group.

 

Payout amount

This is yet another piece of the puzzle, which is missing. While testing the platform, we saw it peaking around 80%.

 

Trading Platform

 

The trading platform offered by SRB Group is entirely browser-based. The presentation on the main page feels rather simple and if this is the full platform, we would not recommend it. The analytical potential is limited by the size of the chart. Clearly this is not supposed to see the eyes of experienced traders. Here is a preview:

 

On-Deposit Bonus

The initial deposit bonus at SBR Group is yet another thing the company doesn't provide information on.

 

Methods of Payment

 

SBR Group offers few, traditional payment methods: Bank Transfer and Credit/Debit Card. We should remind you, international bank transfers can take several business days and include hefty charges, depending on the number of banks involved.

 

Conclusion

 

SBR Group is an unregulated binary options broker. The company used to be known as Swiss Royal Banc and was added to the blacklist of the Swiss financial regulator. Furthermore, there are several complaints on popular on-line forums. There is a total lack of information regarding the conditions they offer. We would advise against dealing with this company. This is most likely a scam. Here are the advantages and disadvantages of this broker:

Pros

Cons

 

Not regulated

 

Previous warning by major watchdog

 

Lack of key information

 

Complaints in popular forums

 

 

Forex
Latest news about SRB Group
Broker Country Regulation Min deposit Max payout Review
Seychelles FinaCom $10 86% Review Website
Cyprus CySec $200 89% Review Website
Cyprus CySec €100 85% Review Website

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for SRB Group

Forex