Razer Markets review – 5 things you should know about razermarkets.com

Razer Markets review – 5 things you should know about razermarkets.com

Beware! Razer Markets is an offshore broker! Your investment may be at risk.

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Razer Markets is an offshore Forex broker with a very beautiful website, where you can find plenty of information about their trading conditions, spreads, stop out levels and leverage. Also some investment opportunities are introduced, a few of their accounts come with a financial plan or an access to long term investments. Contrary to the standards, however, the leverage offered will rise with the increase of the sum deposited, which is a strange feature, no matter the point of view. A gambling mentality seen through their trading conditions, but this isn’t the most important gimmick of this Forex broker, find out more in the full Razer Markets review.

Razer Markets REGULATION AND SAFETY OF FUNDS

Razer Markets is a rather obscure entity, despite the fact that it sounds familiar to many of us. The choice of words makes them sound legit and trustworthy, certainly misleading all of us, but the truth is actually quite the opposite. Razer Markets is a shady offshore business creature, allegedly registered in the Marshall Islands, precisely at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands. The so-called Trust Company Complex is linked with scam brokers such as MTI24 and Trendingraphs.

There are, in fact, two separate companies said to be the owners of the website, respectively the Forex broker- RAZERMARKETS LTD and Vital Resources LTD, both registered at the same address. It is the first red flag to note and a warning, a misleading information in regard to the ownership of Razer Markets! But most importantly, Marshall Island isn’t an jurisdiction known to strictly regulate the retail Forex activities taking place on the island. In fact, there isn’t an FX regulatory framework in place.

Your funds are not safe if you deposit with Razer Markets, it is an unlicensed, unauthorized and unregulated offshore Forex broker, and fairly said, a suspicious one! Avoid Razer Markets and choose a broker which is legit, transparent and truly regulated in EU or UK, as these areas provide the safest environment for your funds. The true Forex brokers comply to many rules and restrictions such as the minimum capital requirement of 730 000 EUR, client accounts segregation of its clients accounts, personnel qualification requirements and daily transaction reporting, all of which serve as a customer protection measures.

Most importantly, funds were established throughout Europe, such as ICF in Cyprus and FSCS in UK, which guarantee the deposits of the traders. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.

Razer Markets TRADING SOFTWARE

Razer Markets doesn’t offer MT4 or MT5 accounts in reality, despite the fact that Metatrader is presented as a trading platform of theirs. The download link actually redirects you to their web-based software, which is the only possible choice and here comes the second red flag! Warning, Razer Markets is lying to the traders, presenting trading features which cannot provide!

The web-based platform is identical to the one that Coinsoft provides to its customers, but Razer Markets doesn’t offer Cryptocurrency instruments. The spread is fixed at 1 pip, the leverage is up to 1:500, but if you want to trade with an increased ratio you have to deposit at least 250 000 USD.

Insane levels of leverage are not allowed in the jurisdictions with strong financial regulation. ESMA, the European security markets regulator, launched a product intervention in the retail Forex market, imposing a leverage cap of 1:30, as a customer protection measure. The data showed that the traders and investors with little or no experience tend to be attracted by the increased leverage, which results in greater losses for them. Our advice is to stop looking for brokers offering 1:500 or 1:1000, because you will most probably end up making a deposit with scammers.

Razer Markets DEPOSIT/WITHDRAW METHODS AND FEES

The minimum initial deposit required is 250 EUR, but Razer Markets recommends a start with at least 5000 USD. It is a very significant scam sign, no true Forex broker is going to push you to invest more money, no matter the circumstances. The funding methods are bank cards and wire transfers only.

No minimum withdrawal amount defined and no fees or charges specified. The typical request processing time will take place within 2-5 days. A dormant account, however, will be subject to 10% monthly deduction after 6 months of inactivity, which is an unfair clause.

No bonuses introduced, but the Razer Markets shows that trading incentives are not off the table. Here we have to mark the next red flag and a warning, because Razer Markets present T&Cs shockingly similar to the ones that we found in many other Forex brokers, some of which being a proven scam, such as Promarketsonline! The Non-Deposited Funds clause is a word by word the same, and it is included in the Terms and conditions of countless other controversial entities such as Bid Brokers Stock, Glad2Trade, CFBroker, Finlay.io and Investo Brokers, which is actually a confirmed scam, warned by FINMA in Switzerland!

Razer Markets allows indebted account, an unfair practice which was banned in Europe. In EU and UK a Negative Balance Protection was introduced, as a customer protection measure, effectively meaning that you cannot lose more than the sum deposited. If you make a deposit with Razer Markets you might record losses you never thought of, stay away!

Currently there are no bonuses offered, but Razer Markets doesn’t exclude trading incentives. In case a bonus is given out, the minimum trading volume required to withdraw funds is 30 times the sum in your account at the specific moment.

HOW DOES THE SCAM WORK

A group of scammers usually operates many different scam brokers, scam websites and call centers. Sometimes they will simply rely on the quantity, they will publish tens or hundreds of websites and will just wait for traders and investors with little or no experience to bite. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.

Fraudsters are working in the social media nowadays, more and more scammers will first introduce their “services” to the people through Facebook or Instagram. You will click on a page, they will contact you, probably offer you a demo account and after some time you will be tempted to invest and make guaranteed profits. Once you are signed-up they will ask you to deposit money and this is just the beginning. The end is always the same, a robbed-off investor who lost his hard-earned money.

WHAT TO DO WHEN SCAMMED

No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

Share online your experience, it is important to protect others, as well. Be responsible!

Rich Snippet Data
Review Date
Reviewed Broker
Razer Markets
Broker Rating
11stargraygraygraygray

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6 Comments

  1. Hi,

    I got a call from Razermarkets. A sales person got me to register on their site.
    But I couldn’t activate the account due to my bank blocking transactions to shady bitcoin sites(which was essentially their payment gateway). Which is a good thing and my bank recommended that I don’t deal with them and they cannot be trusted.

    But their sales team keeps calling me and trying to get me to wire transfer.
    It’s really a nuisance.
    I keep telling them to close my account but they are not listening and it’s starting to be harassing. Is there something you know I can do with a regulation body to get them to stop bothering me?

    I’m currently in Sweden and they are calling me from the UK.

    And they don’t allow users to close accounts from their site, the only way it seems possible to close an account is after activating it.

    Any advice would be appreciated.

    Thank you.

    /James

  2. I have an account at Razer markets and I can only confirm that they are scamers. They refuse to pay out the money I have on the account and they don’t want to delete my account either. They just want me to pay in even more money and they call me almost every day for that. It is a real harassment. That’s why I would advise everybody to stay far away from Razermarkets.

    1. Asmir have you had any luck getting your money or your account closed? They have taken alot of my money and I can’t get it back.

  3. Razer markets big fraud and thieves
    Before joining they call everyday from early morning
    Ones you deposit your money it it gone for ever and after couple of days
    They pushing you to deposit more money to trade big but instead they will
    Steal your money all is fake trading platform
    I lost my money from them trying to report to police

  4. Hi
    Having been contacted by James Bennett from Cryptopayin.com and told to pay £250 to start, money was paid to NAVASU OU with a reference number, you are then told your personal broker will contact you to explain how it works.
    Next day had a call from Kevin, from a company called RAZERMARKETS.COM, first time I had heard of this company, he explained that he would set up a £100 trade and let it run, you could see it making money, it would stop later in the day, which it did and you could see it had made over £100 on the account, Kevin said he would call the next day with a plan.
    The plan that he wanted me to do and had emailed me in advance was to transfer £50000.
    Hi Stephen,

    I trust my email finds you well – I have created your financial plan which will be on a 1 year basis and with an automatic withdrawal on a monthly basis.

    Currently, you have available in your account £357.35, with all the profits you made so far, which is £108.30 (43.32% of your deposit amount) in just a couple of days – Therefore, you will be adding the amount of £50,000. Believing that we will have a long term business relationship with that amount you are getting all the benefits of the GOLD account which will simply make you a lot more money than what you’re making now and keep your account 100% in the safe zone! Most of my clients start with the GOLD account level.

    Now, this is what we are going to do – We will work on a strategy where our goal will be a minimum 23% of your account balance and your automatic withdrawal will be set up at 11% on a monthly basis.

    Please see below the calculations on a 6 months scale and it will give a clear estimation on what you should expect on a 1 year basis.

    March 2021:
    • £50,000 Account balance
    • £11582.19 Profits – 23%
    • Automatic withdrawal 11% – £61,939.54*11%= £6,813.34
    • Remaining balance after withdrawal – £55,126.2
    April 2021:
    • £55,126.2 Account balance
    • £12,679.02 Profits – 23%
    • Automatic withdrawal 11% – £67,805.22*11%= £7,458.57
    • Remaining balance after withdrawal – £60,346.64
    May 2021:
    • £60,346.64 Account balance
    • £13,879.72 Profits – 23%
    • Automatic withdrawal 11% – £74,226.36*11%= £8,164.90
    • Remaining balance after withdrawal – £66,061.45
    June 2021:
    • £66,061.45 Account balance
    • £15,194.13 Profits – 23%
    • Automatic withdrawal 11% – £81,255.58*11%= £8,938.11
    • Remaining balance after withdrawal – £72,317.46
    July 2021:
    • £72,317.46 Account balance
    • £16,633 Profits – 23%
    • Automatic withdrawal 11% – £88,950.48*11%= £9,784.55
    • Remaining balance after withdrawal – £79,165.92
    August 2021:
    • £79,165.92 Account balance
    • £18,208.16 Profits – 23%
    • Automatic withdrawal 11% – £97,374.08*11%= £10,711.14
    • Remaining balance after withdrawal – £86,662.93
    By the end of August you will be standing at:
    • Trading account: £86,662.93
    • Bank account: 6,813.34+7,458.57+8,164.90+8,938.11+9,784.55+10,711.14=£51,870.61
    Please note, the above calculations are an estimate of the minimum profit we could generate, therefore we can do more than that and amend the withdrawals accordingly. As well as we take full responsibility for all the funds in your account.

    I really look forward to progressing the account and working with you for the long haul.
    Now with this name I had never heard of I decided to do some checking, all bad reports came up, so I said I would like to withdraw some money i.e. what I had put in, to check the system worked, Kevin tried to convince me not to as it could take 15-16 days to get money back, it would be better if I changed it to a Bitcoin and sell it, the money would then be back in my account with in two days, he would set it up and call me back, never did hear back from him, so tried to withdraw from account page, sent in request, and had reply saying it would be paid back within five days.
    Having tried calling them, the number goes dead, tried emailing now getting no reply, I fear the money has gone.
    They work it well, BEWARE please do not even try them, you will not get your money back.
    Sorry this is long winded, I hope all that read it saves them their hard earned savings.

    1. I put this on at a time when I felt I was not going to get my money back or hear from anyone, I can now confirm that they have paid my money back.

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