Broker Review

Unauthorised Firm Details

Name: Razemarkets
Website: razemarkets.com

Is Raze Markets Legit or Scam?

After taking a look at their website, it shows that they do not fall under any regulatory agency. That is a MAJOR RED FLAG!! That alone should be enough for you NOT to invest with them. They also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are infamous scammers. So, Raze Markets is just another unregulated forex broker, which means the customers aren’t protected, and there is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.

How does the scam work?

Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit. And they will try any conceivable method in order to make that happen. They will offer deals that sound too good to be true. Like we will double your initial deposit or you will make hundreds of dollars per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, the clients get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you. Also, one thing we need to add here is: don’t trust the good Raze Markets reviews you might see online. They pay websites and services to improve their online reputation by posting good reviews about them.

Withdrawing funds

You should submit a withdrawal request immediately, because your funds are never safe with an unregulated broker. And here is when things get tricky.

If you want to withdraw your money and it doesn’t matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It doesn’t matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.