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raceoption

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What documents should I have if I want to open an account in this platform?
Kostas Anagnostakis
Chile
2022-11-03
ANSWER Raceoption is not a licensed or regulated broker even though it states offers that look good to be true. Raceoption claims to be operated by Makerun Corp, which is registered in the Marshall Islands Registry (IRI). However, IRI does neither issue any licenses for forex trading or brokerage nor regulate, monitor, supervise or license international companies engaging in such activitiesBesides, we did not find any results matching Makerun Corp in IRI. What's more, two professional regulatory bodies issued warnings against Raceoption for being unauthorized to provide financial services. You can check full warnings from the Spain CNMV and the Portuguese CMVM.The truth is, Raceoption is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Raceoption and trade with licensed brokers.
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Is Raceoption legit?
Nicholas Verster
Norway
2021-10-25
ANSWER Raceoption is NOT a legitimate broker and should be avoided at all events. Raceoption claims to be operated by Makerun Corp. that is registered in the Marshall Islands Registry (IRI). However, IRI does not issue any licenses for forex trading or brokerage, nor does it regulate or license international companies engaging in such activities. Besides, we didn't find such matching from IRI. So Raceoption is currently not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. What's worse, the Spanish regulator CNMV and the Portuguese regulator CMVM have successively added Raceoption to the alert list to warn the public that this firm is not authorised to provide the investment services in their countries. You can check full alert or warning from CNMV and CMVM on Raceoption respectively. Our final verdict is that Raceoption is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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