WikiFX Broker Assessment Series | Seaprime: Is It Trustworthy?

Background:

Founded in 2022, Seaprimecapitals LLC (Seaprime) operates as an online brokerage specializing in the trading of exchange-traded CFDs.

According to Seaprime's official website, its registered address is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines. The physical address is Seaprime Capitals LLC, 2nd Floor, Office Numbers 11, 13, and 14, CBD Bank Building, Sharaf DG, Dubai, UAE.

Seaprime offers a diverse range of over 200 tradable assets, including currency pairs, commodities, cryptocurrencies, and stocks.

Additionally, Seaprime provides several partnership programs for introducing brokers and affiliates to earn commissions by referring new clients to the company, along with MAM (Multi-Account Manager) and PAMM (Percentage Allocation Money Management) services.

It is important to note that Seaprime currently does not offer its services in Australia, the United States, Cuba, Iraq, Myanmar, North Korea, and Sudan.

Types of Accounts:

Seaprime offers three account options: the Micro Account, the Standard Account, and the Premium Account. Please refer to the attached image below for more detailed information on each corresponding account.

Deposits and Withdrawals:

Seaprime offers a range of payment options, including bank transfers, Neteller, Skrill, Visa, and Mastercard.

The timeframe for funds to reflect in the account is contingent upon the chosen withdrawal method. The specifications for each deposit and withdrawal method can be referred to from the images below:

Trading Platforms:

Seaprime offers only one trading platform, the MetaTrader 5 (MT5) platform, available on PC, mobile, and web. Renowned for its technological sophistication, MT5 provides access to a depth of market data and various advanced solutions. It features buy and sell flexibility with six types of pending orders, 38 technical indicators, 44 analytical objects, and 21 timeframes, offering a customizable platform with numerous online tools for integration. The platform also provides quick order execution, an economic calendar for tracking global macroeconomic news, one-click trading, mobile trading capabilities, and an intuitive market search and grouping functionality, all contributing to a comprehensive and user-friendly trading experience.

Research and Education:

Upon browsing Seaprimes official website, no research or educational resources were found. This suggests that the broker does not offer these resources, unlike its competitors.

Customer Service:

Clients can contact Seaprime via email at ceo@seaprimecapitals.com or by submitting an inquiry through the broker's online form. Additionally, trading clients can reach Seaprime by phone at +971569518280. However, Seaprime does not offer customer service through messenger or live chat. When selecting a trading broker, it is advisable to choose one that provides timely customer support.

Conclusion:

To summarize, here's WikiFX's final verdict:

WikiFX, a global forex broker regulatory platform, has assigned Seaprime a WikiScore of 1.69 out of 10.

Upon examining Seaprimes license, WikiFX found that the broker is not regulated by any regulatory bodies.

When choosing a trading broker, it's crucial to prioritize one that is regulated and has a strong reputation. A regulated broker is overseen by financial authorities, ensuring they adhere to stringent standards designed to protect your investments. This oversight reduces the risk of fraud or unethical practices, giving traders peace of mind that their funds are secure. Moreover, a broker with an established reputation signals stability and trustworthiness, having successfully navigated the market over time. Brokers that have withstood the test of time often demonstrate resilience, experience, and reliability, key indicators of their commitment to transparency and long-term client satisfaction. In a constantly evolving financial landscape, these factors are vital for safeguarding your trading experience.

Therefore, WikiFX would urge our users to opt for a broker that has a higher WikiScore for better protection.