Read our review to find out the best way to get your money back if you have been involved with RaceOption or a similar bogus brokerage.
What is a broker called RaceOption?
RaceOption is a binary option brand established in 2017 by Race Projects Ltd. The company is based in the Marshall Islands and cooperates with another offshore firm, Finance Group Corp. and its subsidiary Makerun Corp. from Vanuatu. Since binary options are banned in the EU and UK, and both of these firms are offshore, you can already see how suspicious everything about this investment company is. For more information, feel free to check out our RaceOption review.
How can RaceOption take your money?
Almost every offshore broker has the same MO. You’ll be harassed via calls and emails until you deposit the initial money. Of course, you’ll be promised the best results, the highest returns, etc. The thing about binary option brokers is that they work on the ROI. Every company can pick a number (it’s always over 80%) and claim this is how much you can make daily if you invest your money. And who wouldn’t like to return the initial deposit within the first 48 hours, right?
So, once you fall for the scam and give your money, you’ll get assistance from the alleged account manager, who’ll help you decide whether to place a Put or Call position. You may even profit at the beginning. But once you ask for a withdrawal, you’ll understand that all that was a nice charade, and you’ll never see a penny back. And since RaceOption is not regulated, getting reimbursed through authorities is not an option.
There have been numerous warnings against the RaceOption scam. Just to name a few:
- CONSOB warning in Italy
- CNMV warning in Spain
- CMVM warning in Portugal
- FSMA warning in Belgium
- AMF warning in France
- FI warning in Estonia
All these warnings contain the same. RaceOption is marked as an unregulated fraudulent website and everyone involved should file a complaint immediately.
What to do if you have already gotten into the hands of a scammer?
The best you can do for yourself is avoid any kind of binary options investments. There’s a good reason this trading type has been blacklisted and forbidden by many regulators. If, however, you have already been involved with RaceOption or similar fraud, you need to find a way to get your money back.
The best way to do so would be to file a dispute for a chargeback. Once you submit sufficient evidence, your bank may retrieve the money from the merchant. As RaceOption’s victims mostly invested their funds a while ago, we can advise you to seek assistance.
You can contact us via the following link: https://scambrokersreviews.com/contact/ and tell us your story. Our dedicated staff will book a free consultation for you with our refund experts, who will then evaluate your case.
There’s no reason to let scammers run with your hard-earned money. Recovery of your funds was never as easy; just be bold enough to report the scammer. Contact us today to file a complaint and let’s start moving.