“The World’s Personal Broker” is how Raze Markets describes itself, offering access to CFDs. The company shares several office addresses and licenses, but all this requires thorough verification, without which the platform should not be trusted, as it may turn out to be a scam. Judging a broker based on reviews is also not recommended, as they can be fake.
Brief Overview
- 🖥Official Website: razemarkets.com
- ✈️Contact Address: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia
- 📞Customer Support: +44 (0) 7123 456 789, [email protected]
- 🔐Licensing and Accreditation: no
- ⏳Track Record: 2023
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $10, 1:500
- 💰Additional Services: copy trading
Razemarkets.com Examination
On the company’s official website, you can find its legal information, tariff plans, platforms, contacts, legal documents, and open an account. The site does not create a particularly positive or serious impression. Despite many provided details, the “About us” section, where the history of the Raze Markets brand and other useful information should be, is simply missing.
The site is presented in only one language — English. The numbers of the purported licenses are not listed, and the names of the founders are absent. The homepage features logos of Play Market and AppStore, which should link to download the platform. However, instead of official mobile stores, it redirects back to the broker’s website.
The only plus that can be highlighted about this site is the absence of meaningless information. Literally, there are no huge walls of text without sense or use; instead, only the essence and specifics are provided. This simplifies navigation and makes finding the necessary information quicker. However, this does not mean that the broker is serious and reliable.
Company Contacts
Raze Markets provides contact details for general inquiries as well as specific purposes. There is an email for support inquiries, questions about the partner program, press, and institutional clients. However, the contact details look quite suspicious.
For example, the phone number seems to be simply made up: +44 (0) 7123 456 789, which is just a sequence of digits from 1 to 9. Moreover, only the support email is real; the others turned out to be fake. Why does the company provide nonexistent contacts?
Key Conditions
Trading conditions play an important role and can provide early hints about any potential pitfalls for traders. Raze Markets offers three types of accounts to its clients:
- Standard. A minimum deposit of $10 is required. Spreads start at 1.5 pips, leverage up to 1:500, commission is zero, and there is a swap-free option.
- Raw. Zero spreads, commission $4 per lot per side. The minimum deposit is $500.
- Institutional. From $100,000. Leverage up to 1:100 and fees $2 per lot per side.
A suspicious point is the leverage of 1:500, which violates the requirements of all serious and responsible regulators. Furthermore, such a high level of leverage carries enormous risks, which should not be overlooked.
Raze Markets provides the MetaTrader 5 platform for working with charts and orders. However, the trading terminal looks entirely different. It definitely does not resemble the software from MetaQuotes. The broker is likely misleading about offering access to MetaTrader 5. As seen in the screenshot below, it is a completely different platform from an unknown developer.
Exposing Raze Markets
Misleading information about the trading platform and fake contact details are already enough signs of an unreliable broker. However, to be completely sure, all legal data, indicated licenses, operating period, and other aspects of the company’s activity need to be verified.
The legal entity is registered in the offshore country of St. Lucia. There is indeed an organization named Raze Global Markets Ltd. there. However, this does not provide any guarantees, because the financial commission of St. Lucia does not oversee the activities of forex brokers. Additionally, there is no evidence that this company is directly related to razemarkets.com.
Raze Markets also lists an office address in the UAE, which means it should have a license from the DFSA. No firm with this name was found in the DFSA, which means the company operates illegally. It is likely not even registered in the UAE.
Raze Markets shares fake contact details with users. Checking the address in South Africa and the presence of a license from the FSCA is pointless, as it is undoubtedly fabricated information. This means the broker operates completely illegally, as it has not obtained the necessary licenses and permissions for its activities.
The exact operating period is not specified, but the official website mentions the year 2023. Furthermore, the company’s domain was registered in November 2023, and the Instagram account’s first post appeared on December 13, 2023. The platform has been around for less than a year, which is a very short operating period. In six months of operation, it is impossible for an organization to build a reputation as a safe and reliable intermediary.
The user agreement even indicates a different name. For some reason, it is not Raze Markets but MilliyFX Global Ltd. Is this the previous name of the scam or just a stolen user agreement?
What Reviews Do Users Leave?
The average rating for Raze Markets reviews is 4.8 stars, indicating predominantly positive comments. There are not many of them, just over 50, so the platform is unlikely to be popular among traders. However, that is not the main issue. All positive reviews are about 3-4 sentences long and lack any proof that the client actually made money and was able to withdraw it from the platform. Therefore, the simple conclusion is that these positive reviews are fake.
Conclusions
This Raze Markets review has provided reasons why you should not trade here. Not only does the company share fake contact information and lie about its trading conditions, but it also boasts nonexistent licenses and offices in South Africa and the UAE. The broker has not obtained any licenses, has been operating for less than a year, and publishes fake positive reviews about itself to attract as many clients as possible. All this indicates fraudulent activity.
At first glance, the company looks very safe and reliable, but this is not the case. A simple check is enough to understand that it is a scam and an illegal firm. They have no licenses, and all the listed legal addresses are fake and fabricated. The trading conditions are deliberately made very appealing to lure more people into trusting the scammers. This is a common trick! Do not trust the scammers; they post fake reviews about themselves. This is not a real broker! They are anonymous fraudsters!
I lost $150, but I have nothing good to say about raze markets. There are very high spreads and constant issues with order execution. They promised to provide the MetaTrader 5 trading platform, but it was just a promise. In reality, you will be trading on a basic WebTrader that cannot be downloaded to a computer. Their terminal is terrible and works poorly. It has few features, so not all strategies can be used. I do not recommend even trying to trade here. Even the demo account is not worth trying, as trading with real money here is out of the question.
I think that withdrawals do not work here. I did not try because I lost all my money quickly due to the inadequate conditions. I also had suspicions that raze markets was “painting” the charts. They definitely do not have access to ECN.
It is better not to take risks. There are too few reviews about RazeMarkets. It is better to find a more well-known broker with serious licenses, not fake ones. And one that has thousands of reviews and is discussed on trader forums and chats. I do not recommend it.