Seaprimecapitals Forex broker review — Everything you need to know

Seaprimecapitals is the company’s trade name and website name, and the broker behind these names is Seaprimecapitals LLC. It offers three account types, access to an advanced app, and traders can access several asset classes.

In the brief review below, we will analyze and assess the broker’s offerings and will define how competitive it actually is.

Seaprimecapitals Overview of the website

Seaprimecapitals was launched in 2022 and presents itself as a modern FX broker that offers access to the MetaTrader 5 (MT5) trading platform. The website is simple but responsive, and it provides the most important information about trading conditions like account types, platforms, support, markets, and so on. However, it still lacks details about fees on deposits and withdrawals, and is an unregulated broker. It offers a 30% deposit bonus but lacks live chat support.

Overall, the broker has a satisfactory website and only needs to add a license, lower trading costs and deposit requirements, and add live chat support to make itself competitive in the broker scene.

SeaPrimeCapitals safety and licenses

Seaprimecapitals broker is not licensed. It is only registered in Saint Vincent and the Grenadines, which is an offshore jurisdiction. The lack of regulation is a major safety and reliability threat. Without proper oversight, the broker can be a scam, and traders are not protected. While it claims to keep trader funds in segregated bank accounts, it is difficult to confirm that it actually implements this policy.

The only positive aspect here is the availability of negative balance protection, which won’t make traders liable for losses below $ 0 USD.

Seaprimecapitals Accounts Reviewed

There are three account types offered, including Micro, Standard, and Premium. To assess the competitiveness of the broker, we will briefly review the key specifications for each of these accounts.

Seaprimecapitals Micro account is an entry-level account with the following features:

• Minimum deposit – 100 USD
• Maximum leverage – 1:200
• Spreads – From 1 pip (1-1.5 pips)
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

Seaprimecapitals Standard account has a higher deposit, but charges higher spreads as well:

• Minimum deposit – 500 USD
• Maximum leverage – 1:200
• Spreads – From 2 pips (2-2.5 pips)
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

Seaprimecapitals Premium account is the higher-end account, but suspiciously, it has even higher spreads than other accounts:

• Minimum deposit – 500 USD
• Maximum leverage – 1:200
• Spreads – From 2.5 pips (2.5-3 pips)
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

Overall, the broker is not competitive because the micro account has very high deposits, and higher-end accounts come with higher spreads.

Deposit and withdrawal options at Seaprimecapitals

Payments can be processed via Visa, MasterCard, Skrill, Neteller, or bank transfer. Deposits are processed instantly, and withdrawals are not disclosed. The broker does not clearly mention fees or withdrawal limits, making it difficult to define how favorable its conditions are for profit withdrawals. This is a major red flag and a characteristic usually seen with scam brokers.

Seaprimecapitals Assets — What can you trade?

Traders at Seaprimecapitals can access forex pairs, crypto pairs, and commodities. However, the broker does not offer stocks or indices, which limits diversification options for experienced traders.

Trading platforms of Seaprimecapitals

Seaprimecapitals operates on the MetaTrader 5 platform, which is a very advanced and capable software available on desktop, web, and mobile. However, the broker only offers MT5 for desktop and mobile devices. On mobile, traders can download it on both iOS and Android smartphones and tablets, which makes it possible to trade without issues on the go.

Education at Seaprimecapitals

The broker doesn’t provide educational resources like tutorials, video courses, or trading articles, which can be discouraging for new traders seeking guidance. There are no market analysis tools given either, which is also disadvantageous for traders.

Seaprimecapitals Customer Support

Customer support experience is available through phone and email only. These channels, together with the address of the broker, are transparently available on the Contact Us page, which is a positive sign. However, the lack of live chat and multilingual services limits accessibility, especially for non-English-speaking traders. The lack of live chat is especially disadvantageous, as this is a crucial support option that is a must for every broker.

Seaprimecapitals bonuses and promotions

The only bonus available is a 30% deposit bonus, which is available for traders depositing at least $100. There are no loyalty programs or ongoing promotions beyond this. No trading contests are open either.

Is Seaprimecapitals your broker? Final verdict

While Seaprimecapitals uses an advanced MT5 platform and offers a few account types, its unregulated status, vague withdrawal policies and procedures, and lack of educational support and live chat make it unreliable. Trading conditions are also an issue, and the broker needs to improve these aspects, especially the license, to make itself competitive and reliable.

FAQs on Seaprimecapitals broker

Where is Seaprimecapitals based?

The broker is registered offshore in St. Vincent and the Grenadines and operates under Seaprimecapitals LLC.

Can you withdraw from Seaprimecapitals?

Withdrawals are possible, but the broker is not clear about processing times or fees, which is a serious red flag.