Don’t believe the way these fraudsters tout an alleged superior trading environment that caters to both retail investors and professional Forex traders. The single purpose of these misleading websites is to steal your personal information and misappropriate your funds.
Whether you’re already one of the victims of this devious scheme or just want to find out more about safety and fund recovery, read this Raze Markets review.
| Regulated by: | Unregulated Offshore Broker |
| Is This Company Safe? | No, this company is a shady service provider operating unlicensed! |
| Known Websites: | razemarkets.com |
| Have Warnings from: | N/A |
| Registered in: | St. Lucia |
| Operating since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $10 |
| Deposit Bonus: | 50% |
| Trading Assets: | Forex, Crypto, Spot Commodities, Indices, Metals, Shares |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Beware, your payouts will be denied by these cons! Contact us for advice regarding fund recovery. |
False Claims All Over
The Raze Markets broker allegedly operates out of Saint Lucia, but is also registered with the South African Tier 2 regulator – FSCA. Raze Markets South Africa (Pty) Ltd is not found in the said register. The license number listed on the site (53229) belongs to a FSCA- regulated entity called QUANT X (PTY) LTD.
Furthermore, this firm also claims to be regulated by the regulatory body of St. Lucia – FSRA. This entity has actually published a notification regarding not supervising securities markets dealers in that country. Even if some offshore regulation was in place, it would not mean basically anything in regards to safety of funds.
Legal documents refer to an entirely different company called MilliyFX Global Ltd (milliyfxmarkets.com) which we’re not sure is even existent. Another address on the site is given, implying the company also operates out of Dubai (UAE), but apparently without the DFSA certificate.
To sum it up, is Raze Markets legit? After everything we dug up on these schemers, we can confidently say they’re not. Stay away from charlatans like Vourteige as well, as they’re vicious and manipulative.
Scam Spreads Like Disease
Ever since their first inception in 2023, this company has been particularly interested in manipulating and defrauding traders from:
- United States
- United Kingdom
- United Arab Emirates
- Netherlands
- South Africa
After hearing about several benefits like low spreads, high leverage and sign up bonuses, inexperienced Forex investors easily fall prey to the boiler room agents. These charming, yet, undoubtedly greedy individuals aim to mislead potential investors to invest in their shady project.
Remember that no get-rich-quick projects work and that you’re most likely being targeted for scam if you start showing even slightest interest in such deals. Boiler room agents aren’t the only support con artists have, though. Scam promoters on social networks like Instagram and Reddit are rewarded for popularizing the scheme and with each new signup via their link. The company itself also tries to maintain an image of a serious firm on social networks like LinkedIn and that’s another warning not to trust everything you see online.
Another Illusion of Greatness
Besides boiler room operations and spreading misinformation on various social networks, the fraudsters have one more ace up their sleeve. As apparent from the Raze Markets reviews found on Trustpilot, fake opinions and ratings are also employed in order to deceive potential clients.
If the company was so highly rated, there wouldn’t be just reviews on Trustpilot, but all over the internet, and their user base would be far greater. Instead, these criminals are still not known to the wider public and keep their operations under the radar.
Deceptively Alluring Costs
By offering various account types and features, the broker can quickly convince Forex newbies to sign up. Some of the most attractive Raze Markets trading features are maximum leverage ratio of 1:500 and alleged spreads starting at 0 pips.
In addition, the lowest trading commission included with the priciest account is only $2 per lot traded and is entirely unrealistic. Other costs are not made public. Clients are not aware of the high taxes and charges until they decide to withdraw funds.
50% Tradable Bonus
Shady conditions offered on this platform just keep piling up. One of them is certainly the Raze Markets bonus of 50% for first-time deposits.
These incentives serve to bind your funds and block you from withdrawing anything until you reach conditions like trading volume requirements.
What is Truly Offered
It’s not possible to discuss the promised prestigious service when it’s simply not there. Out of all platforms advertised, there’s only a simplistic webtrader provided.
Accounts seem promising, yet, they’re still not worth buying despite alleged low deposit requirements. Let’s debunk other false claims, as well.
Why You Shouldn’t Trade Here
Placing trades while relying on a rudimentary and heavily disadvantaged web terminal is anything but reasonable.
The sole purpose of these simplistic solutions is to entrap the finances of victims and deceive them into believing the profits are real. Similar technology is used by other illicit online trading portals like Deribit, so please avoid them as well.
Can You Rely on These Assets?
The illusion of a rich trading ecosystem is also maintained with a diverse portfolio of financial products available for trading:
- Spot Commodities – Wheat, Sugar, Coffee
- Forex – EUR/USD, USD/GBP, EUR/JPY
- Crypto – BTC, ETH, LTC, NEO, LINK, SOL
- Indices – AUS200, CAC40, SP500
- Metals – Silver, Gold, Platinum
- Shares – Alcoa, Siemens, Boeing
Bespoke Accounts? Hardly
The Raze Markets scam will promise just about anything in order to lure you into investing. That’s why you’ll see allegedly customized accounts that feature impossibly low costs.
Initial deposit may be low, but trading on this site is anything but affordable:
- STP – $10
- ECN – $500
- Institutional – $100.000
KYC Before Withdrawal Details
If you want to do anything besides exploring the web trader, you are forced to pass a KYC. Otherwise, until you share some sensitive information and confirm your identity, you won’t be able to even preview other options on the user dashboard.
This is, of course, a classic move towards identity theft – something fraudulent online trading platforms have a special appetite for. Because of that, however, we weren’t able to access the deposit and payout panel and determine what transaction methods are supported.
Don’t forget this is a fraud we’re reviewing, so Raze Markets withdrawal surely isn’t expected to work.
Dead Contact Channels
You’ll definitely have more luck yelling at a mountain to move than trying to get the support office on this site to react. We sent multiple emails but none got a reply.
In addition, to deceive clients into believing they’re taken care of, these miscreants also provide phone numbers and online forms as a means of communication. All are useless.
How to Start a Recovery Process
Don’t wait and don’t despair over lost investments – the best move you can take is immediately act towards recovering your stolen assets.
If you contact our chat agents promptly, they can book your free consultation as soon as today. Our chargeback specialists can hear you out and provide legal help and advice.
FAQ Section
What is Raze Markets?
This company is an offshore business with dubious practice and a lot of inconsistencies in their legal information.
Is Raze Markets Legit?
According to the information we found, they lie about their FSCA license and do not own any other certificate. Therefore, they’re a total sham.
Where is Raze Markets Located?
The firm claims it has offices in South Africa, Saint Lucia and UAE but neither was confirmed. For help with chargeback procedures, contact our chat agents.
Source: https://scambrokersreviews.com/forex-scams/raze-markets-review/
