Today in our Seekapa review, we examine a company that claims to be both a broker and an investment firm. Can it be trusted, or is it best to avoid working with this broker? Read on for all the essential facts.
Is Seekapa a Trusted Platform?
Seekapa’s website footer states that the broker is officially registered in the Seychelles offshore jurisdiction and holds a license from the Seychelles Financial Authority under the name Bluepine Ltd. A quick check of the Seychelles corporate registry confirms this information, with the trading name “Seekapa” also listed.
Does this mean traders’ funds are secure? Not necessarily. Offshore licenses are often less reliable compared to those issued by reputable European regulators. Disputes with such firms frequently end poorly for traders, as these regulators conduct minimal checks and oversight.
Concerned About Withdrawal?
While the site features an attractive design and detailed informational tables, the specifics of deposits and withdrawals remain unclear. Transactions appear to be predominantly in euros and dollars, as these currencies are referenced in account fees and deposits. However, the actual services used for financial transactions are only disclosed upon registration or by contacting customer support.
Zero commission is reportedly available for certain operations, such as trading specific stocks. However, details regarding withdrawal fees are conspicuously absent.
The minimum deposit of $500 is steep for beginner investors, granting a leverage of 1:100. High leverage, especially for inexperienced traders, often leads to disproportionate losses.
How Long Does The Broker Work?
Seekapa’s history is largely based on its own claims. The broker provides no clear information about how long it has been in business. However, domain information from WHOIS reveals that its website domain was only registered in April 2024.
Since online brokers rely heavily on their websites, this short timeline raises questions about the quality and reliability of their services. Even if this isn’t outright fraud, the limited operational history is a significant red flag.
Other Signs of Fraud
❗Despite its brief existence, Seekapa has garnered numerous negative reviews and exposés online, mostly from English-speaking sources, accusing it of fraudulent behavior.
❗The company also blatantly lies about its track record, falsely claiming to have over 10 years of experience. In reality, the Seekapa trading name only recently appeared.
❗Seekapa offers trading signals, but as a market maker, this creates an inherent conflict of interest between the broker and its clients. Relying on such signals could mean playing by the broker’s rules rather than benefiting from independent trading strategies.
Seekapa Review Conclusions
Seekapa is an offshore company, which alone is cause for concern. There are far more reliable options available in the market, making it unwise to engage with this broker.
Advantages and Drawbacks
➕Possesses an offshore license, albeit minimal.
➖High starting leverage and large initial deposit requirements.
➖Limited time in the market.
➖Misleading claims about operational history and statistics.
FAQ
Is Seekapa a regulated broker?
The company holds a license from the offshore Seychelles regulator.
Is it safe to work with?
Not entirely, as offshore regulators invest significantly less time and attention in scrutinizing brokers compared to well-established authorities.
How can I get my money back?
Contact law enforcement agencies. Chargeback services may help, but there are no guarantees.
Brief Conditions
|
Type |
Forex |
|
Location |
Seychelles |
|
Establishment Year |
2024 |
|
Regulation |
FSA |
|
Customer Service |
|
|
Languages |
En, Pt, Es, Ar |
|
Demo Account |
❌ |
|
Mobile Trading |
✅ |
|
Web-based Trading |
✅ |
|
Bonuses |
❌ |
|
Minimum Deposit |
$500 |
|
Max. Leverage |
1:400 |
|
Scalping Allowed |
✅ |