RaceTrader has been flagged by National Securities and Stock Market Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
My card was charged twice by RaceTrader on the same day. I had to dispute it with my bank. RaceTrader then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Demo account available|Reliable uptime|Clear documentation|Regular updates
Cons: No integrated tax optimization|Limited demo account features
I joined RaceTrader after hearing about them at a conference and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Fast execution|Responsive team|Portfolio tracking tools|Copy trading available
Cons: Some tools only available on higher tiers|Wait times can be long during peak hours
After spending for over a year trying to make RaceTrader work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Multi-device support|Good analytical tools|No hidden fees|Responsive team
Cons: None so far
I invested $25,000 with RaceTrader after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to National Securities and Stock Market Commission.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
RaceTrader seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Tax reports included|Reliable uptime
Cons: Limited ETF selection|Could offer more webinars