Summary:
Despite RaceOption’s loud and persistent assertion of being an uncomplicated trading platform, investors’ experiences suggest a more sobering picture. Users paint a picture of opacity, withdrawal requests blocked, and abrupt account closures. An absence of regulation and an offshore registration process proves to be a great danger for any hopeful investor attempting to trade with RaceOption.
- RaceOption Website – http://raceoption.io/
- Is RaceOption Website Working – No
- RaceOption Address – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960
- Is RaceOption Regulated – No
- Is RaceOption Blacklisted By Any Regulatory – No
- Is RaceOption Domain Blacklisted – It seems there is no direct mention of this domain being on a blacklist.
RaceOption is a binary options and trading product that appears to offer quick payouts and an easy-to-use platform. Unfortunately, a rising trend of user experiences reveals a more malignant side to RaceOption. Scores of users report being locked out of their accounts, having their funds denied, and accounts closed without explanation.
Account Closures Without Justification
Users report that after beginning to actually make some money off of their transactions, RaceOption would suddenly close their trading account for “suspicious activity.” User accounts often receive a generic email and fail to provide any proof of wrongful actions, with a clear intent of retaining the investors’ available funds in question.
Withdrawal Issues and False Promises
Numerous users recount making effort after effort in withdrawing their deposits and profits, and all they get in return are excuses, delays, and ghosting. Users fill out ticket after ticket, send email after email, and even use the phone to engage RaceOption, but they continuously fail to return their funds or fulfill a withdrawal request. What’s consistent about all these concerns is that this behavior is typical of a scam business hiding behind offshore registrations.
Offshore Registration and Lack of Regulation
RaceOption is operating out of an offshore jurisdiction where there is no financial regulatory body that can provide any credible oversight. For scammed users or anyone else who wants to submit a complaint to a regulatory body, there is complete opacity and a lack of legal accountability, making it impossible for scammed users to recover funds and seek remediation through the usual channels.
Frequently Asked Questions
Q1: Is RaceOption a regulated trading platform?
NO-RaceOption is an offshore broker, and there is no reputable financial authority that regulates it.
Q2: Can I withdraw profits from RaceOption?
The majority of users complain that they are unable to withdraw any funds from RaceOption, let alone huge profits.
Q3: What actions can I take against RaceOption?
Victims should report the broker to financial watchdogs, and victimized individuals may even want to consider contacting a fund recovery service that might be able to assist.
Have You Lost Money to RaceOption? Let Us Help
If RaceOption locks your account or denies your withdrawal, Legal Certifi shall be here for you. We investigate unregulated platforms and present you with options for legal mediums and recovery to reclaim your funds safely and efficiently. Contact us for a free consultation.
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