Websea (Imposter) has been flagged by Financial Markets Authority for "Registered/Licensed entity impersonators|Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I gave Websea (Imposter) a fair chance. After for the past six months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: API access|Responsive team|Fast support response
Cons: Onboarding videos are outdated|Limited cryptocurrency options
Tried to withdraw my funds from Websea (Imposter) and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Blocked my account|No legitimate license|Fake returns
Websea (Imposter) has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Instant funding|Two-factor authentication
Cons: Research section could be deeper|Currency conversion fee exists
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Websea (Imposter) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Customizable dashboard|Easy to use platform|Dividend tracking
Cons: No phone support on weekends|Limited ETF selection
The reporting at Websea (Imposter) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Copy trading available|Comprehensive tools
Cons: Minimum deposit could be lower
Customer support at Websea (Imposter) seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Customizable dashboard|Low minimum deposit|Reliable uptime|Copy trading available
Cons: Inactivity fee applies after 12 months
Opened my account with Websea (Imposter) while looking for alternatives to my previous provider and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Reliable uptime|Social trading features
Cons: Search feature is basic
My withdrawal from Websea (Imposter) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since the beginning of the year of being strung along.
Pros: Dedicated account manager|Professional team
Cons: None so far
After using Websea (Imposter) since I opened my account last year, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Detailed reporting|Real-time alerts|Comprehensive tools|API access
Cons: Some tools only available on higher tiers
I lost a significant amount because Websea (Imposter) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Automated trading options|Reliable uptime|Instant funding|Demo account available
Cons: Would like more payment methods