RaceTrader

Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. RaceTrader recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.

I signed up with RaceTrader after a friend recommended them and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.

I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that RaceTrader has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.

RaceTrader offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.

I opened an account with RaceTrader for just over a year ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.

For anyone considering RaceTrader, please be aware that this company has been flagged by National Securities and Stock Market Commission. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.

I closed a profitable position at RaceTrader and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.

I requested my data from RaceTrader under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.

If you are reading this considering RaceTrader - run. I wish I had read more negative reviews from a blog post comparing services. I thought the positive ones were real. Maybe some are. My experience over since I retired last year has been so bad I feel obligated to warn others. Do not make my mistake.

The onboarding at RaceTrader was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.