SeaLimited-Overview of Minimum Deposit, Leverage, Spreads

Note: SeaLimited's official website - https://www.sealimited.io/ is currently inaccessible normally.

Registered in Dominica, SeaLimited is allegedly an unregulated and offshore forex broker, providing trading in commodities, forex currency pairs, indices, stocks, and cryptocurrencies with leverage up to 1:400 and spread from 2 pips via the web trading platform. The minimum deposit requirement is as high as 250 USD.

Pros and Cons

Is SeaLimited Legit?

No, SeaLimited operates without any regulation. Even the Italian authorities CONSOB issued a warning against it. Please be aware of the risk!

What Can I Trade on SeaLimited?

Account Type

Leverage

SeaLimited's leverage is capped at 1:400. The higher the leverage, the more risks and profits will be gained.

Spread

As tested on the demo account on the Webtrader at SeaLimited, we read the spread on the EUR/USD pair was as high as 4 pips.

Trading Platform

Deposit and Withdrawal

SeaLimited accpets deposit and withdrawal via credit cards, wire transfers, debit cards, Skrill, and Neteller.

The minimum withdrawal is €1 with a 3.5% service fee. If the percentage equals less than $30, traders should pay a $30 withdrawal fee.

The processing time for withdrawals is around 3-4 days.

Bonuses and Fees

SeaLimited claims to offer some bonuses. However, the bonus can only be withdrawn when a turnover of 30 times the bonus is achieved.

The broker also charges a dormant fee. In particular, the account that has no transactions (trading/withdrawals/deposits) for a set period of 12 months becomes dormant and will be charged an annual maintenance fee of $30 or the full amount of the free balance in the account if less than $30. The accounts will not be charged but will be closed if they have a zero-free balance.