Is Sealimited safe? Sealimited.io
Can you check this broker please. I am making good returns and learning a lot day to day but I am concerned by lack of info on the company and their employees. There are some negative reviews too.
Sealimited is a forex broker that promises a ground-breaking trading experience for its traders, but it doesn’t promise a properly regulated experience, unfortunately. SeaLimited is owned and operated by the Company, whose registered address is: Core Pay Solution Ltd, 8 copthall, Roseau valley, 00152, Commonwealth of Dominica.
Dominica is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Sealimited.
The company is located in a known offshore zone, which does not require minimum capital requirements that shows company sustainability, as well as do not regulate Forex businesses yet. Therefore, that means that the company operates on its own risk and management style while the client may face some manipulations or will not be compensated by any international organization in case of insolvency.
We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.