SeaPrime Capital is a forex and CFD trading platform promoted heavily through social media influencers, profit screenshots, and referral-based promotions.
But before investing in any trading platform, especially in India, it is important to understand whether Seaprime Capital legal or illegal in India.
This guide explains the legal status, safety concerns, user complaints, withdrawal issues, and how to report such forex scams in India.
SeaPrime Capital
SeaPrime Capital markets itself as a global trading platform offering forex, cryptocurrencies, indices, and commodities through the popular MetaTrader 5 (MT5) interface.
It advertises multiple account types, high-leverage trading, and fast execution, all designed to attract beginners as well as experienced traders.
But when you look beyond the glossy website and marketing claims, a very different reality emerges.
The platform is not registered with SEBI, not approved by RBI, and operates from an offshore region with no regulatory supervision. This already makes the platform risky for Indian traders.
According to its website, SeaPrime Capital positions itself as a multi-asset broker, meaning it allows trading across various asset classes such as:
- Gold
- Currencies
- Cryptocurrencies
- Commodities
- Market indices
It uses MT5 Desktop and Mobile, making the platform accessible via phone or computer. The company also claims to offer:
- 24/7 customer support
- Multiple deposit methods
- User-friendly trading tools
The platform is heavily promoted by YouTube influencers, especially those showcasing:
- Profit screenshots
- Unrealistic daily returns
- Claims of making lakhs through forex or crypto trading
These promotions are misleading and often done without disclosing paid partnerships. As a result, many unsuspecting individuals deposit money believing that similar profits are guaranteed, which is far from reality.
Is SeaPrime Capital Legal in India?
If you ask, is forex trading legal in India? The answer is yes, but with strict regulations. However, when evaluating whether SeaPrime Capital is legal, one must check its registration with any regulatory firm in India.
If you dig deeper, you will find that Seaprime Capital:
- Lack of Transparency
- The website does not reveal who runs the company, who the directors are, or who is responsible for handling user funds.
- There is no genuine office address, customer care number, or verifiable communication channel.
This means if users face any issue-whether technical, financial, or legal-there is no reliable way to reach the company.
- Unregulated in India
- Since Seaprime Capital is a forex platform hence there is no legal backing of SEBI regulation or RBI authorisation.
Trading with such unregulated brokers is illegal in India, and it leaves users with no protection if the platform misuses their funds.
- Excessive High Leverage (1:200) Risks
- SeaPrime Capital offers extremely high leverage of 1:200.
- While high leverage may seem attractive, it significantly amplifies financial risk and is often used by unregulated brokers to lure inexperienced traders into potential losses.
- Withdrawal Problems
- Several users online have reported issues with withdrawals-either the delays are very long, or the withdrawal never gets processed.
When a broker controls your money and restricts access to it, it becomes a serious red flag.
Although SeaPrime Capital has a functioning website and an MT5 server, these technical features alone do not prove its legitimacy.
Now, when it comes to India, forex trading is legal only when carried out through SEBI-regulated brokers and only in currency pairs approved by the RBI.
Any trading platform operating outside this framework is considered an illegal activity under the Foreign Exchange Management Act (FEMA).
SeaPrime Capital raises serious compliance issues. This means the platform does not follow Indian financial laws, does not provide investor protection, and cannot be held accountable by Indian authorities.
Because it is unregulated and offshore, using SeaPrime Capital for forex trading is considered unsafe in India.
If traders lose money due to fraud, manipulation, or withdrawal issues, Indian regulators cannot intervene or help with recovery. Therefore, using SeaPrime Capital poses both legal risks and financial danger.
How to Report Forex Trading Scams?
If you have lost money or faced withdrawal issues, take quick action. Here is how to report forex trading complaints:
- Collect Proof: Save screenshots, chats, payment slips, account activity, and website/app links.
- File a Complaint to Cyber Crime: Visit the National Cyber Crime Reporting Portal and register your complaint.
- Complaint in SEBI: Inform SEBI about the unregulated broker operating illegally.
- Inform the RBI: Report international forex violations under FEMA guidelines.
Taking early action increases the chance of recovering your funds.
Need Help?
If you want step-by-step support in filing your complaint and don’t know how to get money back from forex trading scams, then register with us.
We will guide you or such victims through documenting evidence and submitting official reports through proper legal channels.
Conclusion
SeaPrime Capital markets itself as a modern trading platform, but the lack of regulation, no company transparency, unrealistic profit claims, referral-driven promotions, and withdrawal complaints make it a highly unsafe choice for Indian traders.
Since it operates without SEBI or RBI approval, the platform is illegal for forex trading in India, and the risk of losing money is extremely high.
Your capital deserves protection, so always choose trusted, regulated, and verified brokers instead of offshore platforms that operate without oversight.
