SRFx Trades review – 5 things you should know about

SRFx Trades review – 5 things you should know about

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Beware! SRFx Trades is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


SRFx Trades, or SR Fx Trades, presents itself as a trustworthy forex broker based in one of the leading global financial hubs. But these claims do not stand up to scrutiny. This is not a real broker at all, but a fraudulent scheme of a familiar kind, targeting people with no experience in the financial markets. Let’s see how you can recognize that this is indeed a scam.


On the homepage of the website we see the claim that SRFx Trades is registered in the UK and provides all the protections required by the regulations in that jurisdiction for the customer.

In the footer of the website, however, we see a contradictory statement – that the company SRFx Trades Limited  is incorporated in Saint Vincent and The Grenadines (SVG) and “comply with all the rules as per the jurisdiction”.

But there are no rules for brokers in SVG. The local Financial Services Authority specifically warns that it does not license brokers or supervise the activities of International Business Companies engaged in such activity.

In order to operate in the UK, a broker must be licensed by the Financial Conduct Authority (FCA). However, we find no licence in the regulator’s database but a warning that SRFx Trades is not authorised to offer financial services and products.

At the same time, SRFx Trades Limited  is actually not listed among the companies incorporated in SVG. Therefore, it seems that even the information about offshore registration is false, and such a company does not exist at all. SRFx Trades also does not provide any legal documentation such as Terms and Conditions or Client Agreement as you would expect even from offshore brokers, let alone regulated ones.

The website lists a contact address in SVG, but emails to confirm registration include a UK address. It appears that the fraudsters changed the fake information on the UK registration website after attracting the attention of the FCA, but did not delete all traces.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the FCA. They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.


SRFx Trades claims to offer MetaTrader 5 (MT5) – currently the most widely used advanced trading platform in the industry. SRFx Trades even provides login credentials to a trading server after account registration. But the links to download the software are empty.

But even if SRFx Trades did provide access to MT5, it would not make this website any more credible. Financial scammers often use trading platforms to fool their victims that their money is actually being invested. However, this trading is entirely fictitious and the money goes directly into the scammers’ pockets.

It is advisable to contact one of the many legitimate brokers that offer MT5 or the still very popular MT4. These platforms have established themselves as leaders because they offer a wide range of features, including a wide variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.


On the SRFx Trades website, we see a description of four types of trading accounts. The terms listed are not particularly competitive – the Standard account promises a spread starting at 2 pips. But that doesn’t really matter, since this trading is not real – SRFx Trades has neither legal authorization nor the necessary software.

However, the stated leverage of 1:1000 may serve as a further clue that this could not be a genuine UK-based broker. Regulated brokers do not offer such levels to retail traders as trading with high leverage carries risks of sudden and excessive losses. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

We also see advertisements on the website for various bonuses and promotions that regulated brokers are prohibited from offering.

The stated minimum deposit is 100 USD, but this should not tempt you – many licensed brokers allow you to open a starter account with even lower amounts.


SRFx Trades claims that deposits and withdrawals can be made through various cryptocurrencies, wire transfer, credit/debit cards and e-wallets such as PerfectMoney, Skrill and Neteller. However, in the deposit menu itself, the only option is to send an amount to an account in a bank in Pakistan. Cryptocurrencies and wire transfers do not allow for a refund or chargeback to be requested.

Since SRFx Tradesdoes not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfill traded volume conditions.


While browsing the interwebs there is a significant chance you will come across comments, videos, social media pages that promise easy ways to passively make money. If you follow the links you will be taken to websites claiming to be legitimate brokers or investment firms. And if you take the next step and make contact with the people behind these websites, you will be contacted by slick and experienced scammers who will lure you in with promises of easy profits. For a while they will convince you that your investment is generating impressive returns and you need to pour in even more money to make sure you don’t miss out on this once in a lifetime opportunity

However, the attitude towards you will be changed if you want to withdraw your money. Suddenly, it will turn out that your investment makes losses and you even owe money to the fake broker for unexpected fees and expenses. They will show you clauses hidden in the Terms and Conditions, according to which you can only withdraw money after you have traded an impossible minimum volume, or that you will have to pay withdrawal fees of 20%, 30% or even more. When you try to hold them accountable you will find they are using fake names and shell companies in shady offshore jurisdictions without any regulatory oversight.


Your options to recover your money are limited. If credit/debit cards were used for the transactions, you have the possibility to request a chargeback. But most scammers insist that you send them proof of identity and address with which they can dispute that the transactions were legitimate. Fraudsters also predominantly use cryptocurrencies, where refunds are impossible.

You should also be aware that there are many scammers who offer to recover your money for an upfront fee. You should not trust such offers. It is better to contact the relevant authorities in your country and warn them about the activities of the scammers.

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