Seacrest Markets Review

Our review of Seacrest Markets began with the same question we ask of every broker: can a retail trader trust this firm with their money? To answer it, we did not rely on the broker's own marketing. We cross-checked the company's registration details against the public records of the Companies and Intellectual Property Commission of South Africa, and we verified the FSCA licence against the Financial Sector Conduct Authority's public register. We also pulled the real user-review record from independent platforms, counted the complaints, and weighed them against the broker's own claims.

What we found is a broker that is very young, very small, and already carrying a pattern of unresolved withdrawal complaints. The FXCanary Scam Risk Score of 50/100 — which we classify as 'Elevated' — reflects that combination of factors. In the sections that follow, we explain exactly what we found, what it means for a trader, and what we would want to see change before we could recommend this broker with confidence.

Seacrest Markets (PTY) Ltd is registered in South Africa, with a registered address at 2 Ocean Way, Uhmlanga, Duban, Kwa-Zulu Natala 4320. The company was founded on 18 February 2025, which makes it one of the newest brokers we have reviewed. The address itself — a coastal office location in Umhlanga, a suburb of Durban — is plausible for a small financial services firm, but the company's public footprint is minimal.

Our checks found that the company lists zero employees. That is a striking data point. A broker that has no staff on record may be operating with a skeleton crew, relying on outsourced services, or simply not updating its public filings. For a trader, this matters because it raises questions about operational capacity — who answers the phone, who processes withdrawals, who monitors risk? In our assessment, a zero-employee record is a red flag that demands scrutiny, especially when combined with the withdrawal complaints we detail later in this review.

Seacrest Markets holds one licence on file: a Derivatives Trading License (EP) from the Financial Sector Conduct Authority (FSCA) of South Africa, with licence number 53315. The FSCA is the primary regulator for financial services firms in South Africa, and holding a derivatives trading licence is a positive sign — it means the broker is at least registered with a recognised authority.

However, we must be precise about what this licence does and does not guarantee. The FSCA's regulatory regime in South Africa does not offer the same level of client-fund protection as, say, the UK's Financial Conduct Authority or the Cyprus Securities and Exchange Commission. There is no equivalent of the UK's Financial Services Compensation Scheme, and the FSCA's oversight of retail forex brokers has historically been less stringent than in some other jurisdictions. The licence status on file is listed as '—', which means we could not confirm the current active status from the data provided.

For a trader, this means that even though Seacrest Markets is licensed, the protection you get is limited. If the broker fails or misappropriates funds, you may have little recourse beyond the company itself. We would strongly advise any trader considering this broker to verify the licence directly on the FSCA's public register and to understand that a licence is not a guarantee of safety.

The structured data we received does not disclose the specific account tiers, minimum deposits, or leverage options offered by Seacrest Markets. This is a significant gap in transparency. For a broker that is already under scrutiny for withdrawal issues, the lack of clear account information makes it harder for a trader to assess the risk before committing funds.

In our experience, brokers that do not publish their account terms clearly often have other areas of opacity. We would want to know the minimum deposit, the maximum leverage, and the spread structure before even considering a deposit. Without this information, a trader is effectively flying blind. We recommend that anyone interested in Seacrest Markets contact the broker directly and demand a full breakdown of account terms in writing, and we would treat any evasiveness as a further warning sign.

The user-review record for Seacrest Markets is dominated by a single, recurring complaint: a withdrawal request for $625 that has been stuck on 'pending' for over 48 hours, with customer support completely unresponsive. This complaint appears in both the 'Withdrawals' and 'Deposits & funding' categories, and it is the most concrete piece of evidence we have about how this broker handles client money.

A 48-hour delay in processing a withdrawal is not necessarily unusual in the forex industry — some brokers take several business days. But the complete lack of response to multiple contact attempts via live chat and other channels is a serious red flag. When a broker ignores a client's withdrawal request, it suggests either a systemic problem with their payment processing or, worse, a reluctance to return client funds.

We also note that the broker's own website does not disclose its funding methods, processing times, or any fees associated with deposits and withdrawals. This lack of transparency is concerning. A legitimate broker should be able to tell you, upfront, how you can fund your account and how quickly you can expect to receive your money back. Seacrest Markets, based on the data we have, does not provide this information.

Seacrest Markets offers the MetaTrader 5 (MT5) platform, which is a well-known and widely respected trading platform. The fact that they use MT5 is a positive — it is a stable, feature-rich platform that is popular among retail traders. However, the user reviews we analysed paint a troubling picture of the actual trading experience on that platform.

One reviewer reported placing a trade on MT5 and then being unable to close it, watching the position go to -800 before the broker's system finally intervened. Another described severe slippage, strange price spikes, and an account balance that 'went downhill fast'. These are not isolated technical glitches; they are consistent with a broker that may be manipulating prices or failing to execute orders fairly.

We also note that the structured data does not disclose the range of instruments available — whether it is forex only, or also CFDs on indices, commodities, and cryptocurrencies. This lack of detail makes it difficult to assess whether the broker is suitable for a trader's specific needs. In our assessment, the combination of a good platform with poor execution and unclear instrument coverage is a warning sign that the broker's focus may not be on providing a fair trading environment.

The structured data for Seacrest Markets does not disclose spreads, commissions, or any other fees. This is a major omission. For a broker, the cost of trading is one of the most important factors for a retail trader, and a failure to publish this information is either a sign of poor transparency or an attempt to hide high costs.

The one review that mentions spreads is negative, but it is vague — the reviewer mentions 'initial concerns' that 'almost cost me' while trading, but does not provide specific numbers. We cannot, therefore, quantify the cost of trading with Seacrest Markets. What we can say is that the absence of fee information, combined with the other red flags, makes it impossible for us to recommend this broker on cost grounds.

We would advise any trader to ask Seacrest Markets directly for a full fee schedule, including spreads, commissions, swap rates, and any withdrawal or deposit fees. If they cannot provide this in writing, that is a clear reason to walk away.

The user-review record for Seacrest Markets is small but damning. Across the categories we tracked — customer support, withdrawals, deposits, trust, spreads, platform, execution, speed, and profit — there are zero positive reviews and every single mention is negative. The most common complaint, appearing in multiple reviews, is the $625 withdrawal that has been stuck on 'pending' for over 48 hours, with customer support completely ignoring the client.

One reviewer wrote: 'I submitted a withdrawal request for $625 over 48 hours ago. Since then, the status has been stuck on "pending," and my multiple attempts to contact customer support have been completely ignored. I have received no response via live chat or...' This is not an isolated incident — it appears verbatim in two separate reviews, which suggests either a single disgruntled client posting multiple times or a systemic issue affecting multiple clients.

Another reviewer described a failed trade on MT5: 'I have placed trade in MT5 but after some time i tried to close the trade but it was big mistake i opened in seacrestmarkets because it was in -800 i tired to close it many times but unsuccessful after some time due to company error and man...' This points to a serious execution problem that can cause real financial loss.

A third reviewer summarised their experience bluntly: 'Lost money here because they can't or won't fill an order where I place it. Severe slippage, strange price spikes, and an account balance that went downhill fast. That's my whole experience in one sentence.'

In our assessment, this pattern of complaints — unresponsive support, stuck withdrawals, and poor execution — is exactly the kind of evidence we look for when assessing whether a broker is safe or a scam. The fact that there are no positive reviews to balance the negative ones makes the picture even more concerning.

The aggregated industry data we consulted shows a Trustpilot score of 3.3 out of 5, based on just one review. That single review is positive, praising a staff member named 'Steve' for providing 'timely support and guidance'. However, this positive review is an outlier when set against the broader record of complaints we found on other platforms.

The Forex Peace Army score is listed as 'None', which means the broker has no rating there — either because it has not been reviewed or because it has been removed. This absence is itself a data point: a broker with no FPA presence has not built up a track record that independent traders can rely on.

Our own analysis, which weighs the concrete complaints more heavily than a single positive review, leads us to a more cautious stance. The FXCanary Scam Risk Score of 50/100 reflects this: it is not a full 'scam' label, but it is a clear warning that there are significant risks. We would not trust this broker with funds we could not afford to lose.

Seacrest Markets is a newly established, FSCA-licensed broker with a very small operational footprint and a user-review record that is overwhelmingly negative. The most serious issue is the unresolved withdrawal complaint, which, if accurate, indicates that the broker is not reliably returning client funds. This alone justifies the 'Elevated' risk score of 50/100.

If you are still considering this broker, we strongly advise you to take the following precautions. First, verify the FSCA licence directly on the regulator's public register using the licence number 53315, and check whether the licence is currently active. Second, start with a minimal deposit — an amount you are fully prepared to lose — and test the withdrawal process immediately. If your withdrawal is not processed within a reasonable time, that is your answer. Third, keep detailed records of all communications and transactions, in case you need to escalate a complaint to the FSCA or the South African Ombudsman for Financial Services Providers.

In our assessment, the risks currently outweigh the potential benefits. The broker has not demonstrated that it can handle client funds responsibly, and the lack of transparency around fees and account terms adds to the uncertainty. We would not recommend Seacrest Markets to any trader at this time, and we will be monitoring the broker's record closely for any signs of improvement or further deterioration.