Broker Review: Race Option
Today I’m looking at a broker rebrand, that still offers guaranteed withdrawals within one hour, Race Option. This offshoot of FinRally, has a very similar design, and offers traders essentially the same platform award-winning platform. One of the main differences, is that under this new brand they are able to accept US clients. I’ve been treated well by other brokers owned by this company, so I hope that continues this time around.
Race Option Review
The creators of the Race Option brokerage want to push across the message that trading with their platform is very simple. They tell traders that their success is only 3 steps away. The first step is registration which includes a free gift, funding your trading account and then predicting market direction to win trades. While it comes across as easy, the last step can be quite difficult if you don’t have any experience in the binary options marketplace. After years of manual trading, I rely on some of the best binary options software on the market to provide me with these predictions, so that I can win trades using expert analysis from someone else.
If you’re looking to sign up with this broker, then I would certainly recommend that you utilize the same trading approach that I do. Obviously, if you have trading experience, and you prefer trading manually, then you can do this as well.
- Guaranteed 1 hour withdrawals
- Trader average income $1523 USD
- 100% secured trading
- Weekend trading
One of the most important aspects of any binary options broker in recent times, is the withdrawal process. Race option promises guaranteed withdrawal processing within a single hour. In my time with FinRally, I was happy with the withdrawal process, but it never happened within the first hour of my request. Generally, it would take a day or 2 which is fine, but hopefully under this new brand they have sped up their process.
When signing up with Race Option you have 3 different choices, the bronze account, the silver account and the gold account. Depending on how much you deposit, you fall within a certain range. Anywhere from $250-$1000 will get you a bronze account, 1000 to $5000 will get you a silver account, and anything about that will get you access to a gold account.
All of the accounts are pretty similar, with the only difference being an additional web-based master class and access to an individual account manager. One of the messages that I push across here at binary today with a lot of conviction, is the fact that traders should be staying away from binary options account managers. The simple fact is that effective traders have no reason to seek out a job with a binary options broker, so the likelihood of your account manager to have the skills necessary to grow your account is very small.
Brokers still offer this service because they don’t want to be seen as the only broker that doesn’t, but it’s not the way to win trades.
I had quite a bit of success with the FinRally broker, so I’m confident that Race Option will be just as fruitful. I am happy that they are starting to accept US clients, and that they have kept their current platform because I found it to be quite effective.
If you have any questions, or you want to leave your experiences with this binary options broker, then please leave your comments now.
The binary options market has reached an equilibrium, where the market has started to witness a plateau in the number of new broker registrations. There are various factors that have led to the gradual decline in the market, as several regulatory restrictions, scam operators, Government outlook, and even low investor confidence have played their parts in a significant way. Regardless, there are still numerous binary options companies that operate a reliable and authentic service, and Raceoption is one of the brand-new entrants to the market that has an excellent binary options brokerage in the market.
Raceoption offers its services through a tried and tested platform that follows on from the other successful brokerages that the company has owned in recent years. In some ways, Raceoption may be considered as a rebranded and revitalised version of an existing brokerage that took note of its customers’ feedback to create a trader-centric binary options brokerage. It is absolutely imperative for a company to cater to the general consensus, as developing a product around the traders’ need is guaranteed of success in the long run.
We have used our many years of experience in the binary options market to properly analyse Raceoption’s services and to determine whether the broker is indeed a good quality broker for our readers. Use our Raceoption binary options review to gather extensive information about the company, and to receive a hefty bonus when you sign up for an account!
Company Information & Raceoption Regulation
Raceoption may seem familiar to some users, as the company appears to have a design layout that is quite similar to Finrally. In fact, Raceoption is operated under the same umbrella as the Finrally binary options platform, as both companies are a part of the Finance Group Corp (FGC). Raceoption was introduced in 2017 by Race Projects Ltd., which has its registered office in Seychelles. FGC, on the other hand, is registered in Vanuatu and is also an integral part of Suomen Kerran LP, which has different binary options properties across the globe offering same or similar services. Suomen Kerran LP is also a Scottish company, which brings it under the UK’s regulatory framework.
Raceoption may not be the best broker outright, in terms of regulatory protection, as we would usually recommend trading with brokers that are regulated by agencies such as the FCA or the CySEC. European brokers are better regulated, offer more transparent services, and have better financial stability, but we have come to trust brokers from other countries primarily due to their quality of services and dedication to customer service. We have also had quite a positive experience with Suomen Kerran LP, as its entire binary options properties are known to offer the best in binary options products and services with a negligible negative customer feedback.
Another advantage of trading with a company that is located in locations such as the Seychelles and Vanuatu is that they are able to offer better bonuses, lower trading costs, and more freedom on trading. These brokers are also not hindered by any regulatory restrictions, which further aid in better trading conditions that traders expect. Despite not having a strong regulatory license, we do expect Raceoption to offer a reliable service, and we can indeed count on their largely positive reputation.
There is a small confusion surrounding the broker’s policy towards traders from the USA. Raceoption is not regulated or approved by the US regulators, which essentially prevents the company from offering its services to US traders. The broker also states this fact in its terms and conditions, but interestingly, the company has also provided support numbers for its US clients. However, we would recommend US citizens to be cautious while trading with overseas brokers, as current laws in the United States, are strict against any unauthorised binary options trading.
Raceoption Financial Instruments
The FGC offers a respectable choice of financial assets through its platform, with access to over 100 different instruments from the Forex, commodities, indices, and shares market. Although the company has a good choice of assets, we can’t help but notice the absence of cryptocurrencies in the mix, as cryptocurrencies are one of the most popular categories in the binary options market. Raceoption certainly had an excellent opportunity to include cryptocurrency options, as it was only launched recently, but the lack of such an option may make it difficult for the broker to cater to the new-age traders.
Forex: EUR/USD, GBP/USD, USD/JPY, USD/CAD, EUR/JPY, EUR/GBP, USD/TRY, USD/RUB, USD/ZAR, USD/SGD, NZD/USD, USD/CHF, AUD/USD, GBP/RUB, EUR/RUB, GBP/JPY, GBP/CHF, AUD/CHF, EUR/CAD, AUD/JPY, CAD/JPY, AUD/NZD, EUR/AUD, GBP/CAD, NZD/JPY, AUD/CAD, EUR/NZD, EUR/CHF, BitCoin/USD, BitCoin/CNY, AUD/USD FUTURE, EUR/JPY FUTURE, USD/JPY FUTURE, GBP/USD FUTURE,EUR/USD FUTURE
Stocks: IBM, NISSAN MOTOR, TEVA PHARMA, TESCO, TURKCELL (TURKEY), TATA MOTORS (INDIA), HSBC HOLDINGS (LONDON), COCA COLA (US), SBERBANK (RUSSIA), LUKOIL (RUSSIA), BP (BRITISH PETROLEUM), GAZPROM (RUSSIA), NIKE (US), APPLE (US), MICROSOFT (US), CITI (US), ALPHABET Inc C (Google), F BP, S.BANK INDIA, EXXON MOBIL, BAIDU, AMAZON, DISNEY, GOLDMAN SACHS, INTEL, JP MORGAN CHASE, PFIZER, CATERPILLAR, BANCO SANTANDER, TELEFONICA, BANK OF AMERICA, AIG, YAHOO, NETFLIX, McDONALD’S, ANZ BANK, BHP-AU, RIO-AU, LAS VEGAS SANDS, WYNN RESORTS, EBAY, SONY, BOEING, WAL-MART, GENERAL MOTORS, GROUPON, MASTERCARD, SALESFORCE.COM, STARBUCKS, AXIS BANK, TATA STEEL, ROSNEFT, FACEBOOK, YANDEX N.V, CK HUTCHISON, BLACKBERRY, 3M, TENCENT HOLDINGS, TWITTER, MICRON, SINA, TESLA MOTORS, WEIBO, VTB BANK, ALIBABA, GENERAL ELECTRIC, JOHNSON & JOHNSON, MAZDA MOTOR, TOSHIBA CORP, SUMITOMO , MITSUI, TOYOTA (US), COLGATE-PALMOLIVE, FERRARI, LLOYDS BANK, BARCLAYS, BRITISH AMERICAN T, VODAFONE, RIO TINTO, CARNIVAL CRUZE
Indices: DOW (US), S&P 500 (US), NASDAQ (US), DAX (GERMANY), CAC (FRANCE), FTSE 100 (UK), ISE 30 (ISTANBUL STOCK EXCHANGE), RTS (RUSSIAN TRADING SYSTEM), MSM 30 (OMAN), TADAWUL (SAUDI STOCK EXCHANGE), DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), KUWAIT (KUWAIT GENERAL INDEX), BOMBAY SE, HANG SENG (HONG KONG), SSE180 (SHANGHAI STOCK EXCHANGE), KL FUTURE, NIKKEI225（JPN）, TEL AVIV 25, TOPIX, MICEX 10 (MOSCOW INTERBANK EXCHANGE), ASX, IBEX, FTSE F- DEC16, ASX F-DEC16, NIFTY F-SEP16, SMI, FAZ-SHORT BANKS(ETF), IBEX F-OCT16, HANG SENG F-SEP16, CSI 300, TSX 60, SHANGHAI COMPOSITE, DOLLAR INDEX-DEC16, GERMANY 10YR-DEC16, FTSE MIB F- DEC16, RUSSELL 2000, FTSE 250
Commodities: SILVER, PLATINUM, OIL (LIGHT SWEET CRUDE), Sugar, Coffee, GOLD/EUR, GOLD, GOLD FUTURE, OIL FUTURE
Raceoption Payouts & Trading Conditions
The trading conditions at Raceoption follow a standard affair that is common among all FGC properties, but Raceoption brings a small twist to the proceedings. Aside from the regular binary options products that include all variants of the short-term, intra-day, and long-term options, the broker also provides CFD products for those who wish to trade both binary options and the conventional CFD market. The binary options products include the popular turbo options, one-touch options, and the classic options, which have payouts starting from 60% and a maximum payout of 90% on select options. CFD products have a more traditional approach, where the profits and payouts are dependent on the invested amount and the movement of the markets.
The minimum investment starts from $1 per position, with a maximum investment ceiling of $1,500 per position. Unlike most of the broker’s competition, Raceoption actually allows its traders to close its binary options trade well before the expiry, provided the trade meets specific criteria. Trades can be sold out for a partial refund, provided the closing time is at least greater than 1/4th of the original expiry. The sell-out feature is also available with the rollover and double-up features, which basically allows the trader to extend the expiry time of the options contract. Therefore, the ability to manage binary options trades should undoubtedly be a prominent highlight of Raceoption’s products, along with the availability of CFD products.
Raceoption also facilitates trading over the weekends, but we do not recommend trading over the weekend due to liquidity concerns. A majority of markets are closed during the weekends, which can result in a slow and relatively flat market for most assets. Trading on weekdays can produce the most exciting and profitable opportunities.
Raceoption Binary Options Platform
The Raceoption platform is a slightly modified version of the SpotOption platform, which is an entirely different approach from what one expects from an FGC or Suomen Kerran LP binary options property. Usually, Suomen Kerran LP platforms are proprietary trading platforms that have live chat features embedded for instant support. The Raceoption platform follows a direct trading interface, where the trader has all the required trading tools and information in a simple and easy-to-use layout.
The platform is web-based and is compatible with all leading web browsers. Trading is quite easy and intuitive, as choosing an asset, the investment amount, the time of expiry, and the trade outcome is all provided through an excellent trading dashboard. The chart is quite basic in its layout and features, but it can provide historical data for better analysis of the markets. For CFD traders, the platform also provides standard trading options, but the browser-based interface does lack the trading flexibility and features as offered by a dedicated installable interface.
Raceoption Mobile Trading Platform
Every popular binary options company realises the importance of mobile trading platforms. Therefore, the Raceoption mobile apps are readily available for download on Android and iOS operating systems through their respective app stores. These mobile apps are easily scalable for both smartphones and tablets, but if you are looking for a browser-based trading experience, the Raceoption WebTrader can also be used for trading. There is only a single login for every account, thereby ensuring full access to both the mobile trading apps, as well as the web platform.
Raceoption Account Information
The Raceoption account choices are designed according to the standard offerings provided by the company’s other sister concerns. There are primarily three different account options, with a Raceoption minimum deposit requirement of $250. The cheapest account option is known as a Bronze account, where traders get access to 24X7 live video chat, a demo account, access to the copy trading tool, and a one-hour withdrawal promise. Although the Bronze account is slightly more expensive than a few other competing accounts offered by rivalling brokers, $250 is a nominal investment for the features on offer.
The Silver account delivers a few additional trading benefits such as a Masterclass session and an individual account manager. Of course, the added benefits do warrant a higher deposit of $1000, but you do receive a more personalised service for your investment. The Silver account has all the advantages of the Bronze account and is the company’s most popular account choice. If you are looking for expert assistance in your trading ventures, the Gold account provides integrated technical analysis, but traders are expected to invest at least $3000. If you can afford it, we would recommend the Gold account, as the technical analysis provided by the broker can greatly complement your own inference of the markets for better accuracy in trading.
The broker’s promise of withdrawals within an hour is also an added advantage of trading with Raceoption, especially when other brokers specify up to 10 working days for processing a withdrawal. There is a wide range of payment methods, including online payment wallets such as Skrill, Neteller, and PerfectMoney, along with the option to deposit/withdraw through credit/debit cards. Although the broker does not offer cryptocurrencies trading through its platform, the broker supports payments through cryptocurrencies and accepts all coins, including bitcoin and Ethereum. Regardless, all payments are processed through highly encrypted online channels for maximum payments security.
The bonus changes according to the choice of account, but Raceoption offers anywhere from 20% to 100% bonus for a maximum bonus of $100,000 per account holder for a given calendar year. The bonus also has a nominal transaction volume requirement, and opting for a bonus means that you accept the broker’s terms and conditions. The broker is also offering three risk-free trades, which will be transferred as trading credits to the account if you lose your three trades in a row. The risk-free trade offer is also another type of bonus that has the same conditions as the deposit bonuses. Bonuses should help traders in increasing their market exposure without any additional risk, but withdrawals may only be processed after satisfying the broker’s bonus policies.
Raceoption Demo Account
Raceoption offers a limited demo account for every account holder, which can be accessed after making an initial deposit. Traders will have to open an account and deposit money into their trading account for demo access, but in case traders are not comfortable with the services, they can always request a withdrawal. Of course, make sure that you don’t opt for a deposit bonus or a risk-free trade bonus until after trading on the demo account, as it can help you to make a withdrawal without any issues. The broker allows up to three days for their traders to forfeit their bonus and enjoy unrestricted withdrawals, but traders should not perform any trading activity within such a period.
Raceoption Customer Service
Raceoption uses a modified trading platform that does not feature a live video chat feature, unlike its other web properties, but traders still receive access to 24X7 live video chat for around the clock customer service. There are also five different customer service numbers for clients to access the customer support team, which are dotted across the world in North America, Europe, and Asia. Alternatively, traders can also use the web contact form for contacting the broker’s representatives for detailed support.
Raceoption Education Centre
Raceoption does not have an extensive training database, but there are a masterclass session and a personal account manager for Silver and Gold account holders. Additionally, the integrated technical analysis package offered for Gold accounts also serve as an immense help for traders in making the right trading choices for a positive trading experience. Unfortunately, Bronze accounts do not offer any educational materials or videos, which really makes it imperative to choose either the Silver or the Gold account.
Owned and operated by an established company in the binary options market.
Minimum trade size starts from just $1.
Up to 100% bonus for deposits and three risk-free trades.
24X7 live video chat.
Access to both binary options and CFD trading.
A relatively new entrant to the markets.
No cryptocurrencies offered for trading.
Not regulated by any leading regulatory organisation.
Is Raceoption A Scam?
No, although Raceoption launched its brokerage only in 2017, the service is owned and operated by a reliable company.
What Is The Minimum Investment For A Trading Account?
The minimum deposit for a Bronze account is $250.
What Is The Bonus?
Traders can expect to receive anywhere from 20% to 50% bonus for their investments, along with three risk-free trades.
What Is The Withdrawal Time?
All withdrawals are processed within an hour, unless traders do not satisfy the bonus conditions, in case they have availed a bonus.
RaceOption Forex Broker Review
One of the most important decisions a trader can make is to choose the right trading brokerage to deal with. Today, the internet is flooded with online trading brokerages and it can be an overwhelming task knowing which one to go with. This is especially true because there are many scam and fraudulent brokers out there that should not be trusted with your money. However, there are also numerous reputable online trading brokers to choose from. The problem is, how do you know which ones reputable and which ones are right for you? Here at forexbonuses.org, we make choosing the right forex broker easy by providing in-depth reviews and analyzing all aspects of a broker. So, check out our RaceOption trading brokerage review and see if they can be trusted and if they’re right for you.
RaceOption Overview and Specifications to Consider
RaceOption is an international online trading brokerage providing their clients the opportunity to trade Forex, Binary Options and CFDs across a wide array of financial assets. RaceOption is owned and operated by Race Projects Ltd. who is one of the numerous trading brokerage companies owned by Finance Group Corp. RaceOption was established in 2014 and have their headquarters based out of Seychelles at 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles. The RaceOption trading brokerage claims to be regulated on their website but they do not stay who they are regulated with. Also, we could not find any proof that they are regulated by a reputable regulatory authority. While this raises some concerns, the RaceOption brokerage has been successfully operating since 2014, has yet to be shut down, and has received good feedback from the online trading industry and community. Therefore, we believe RaceOption can be trusted but customers should proceed with caution.
RaceOption is an international trading brokerage who accepts traders from all over the world and offers their services in English, Russian, Spanish, and French. The brokerage features a wide array of tradeable assets including 15 forex currency pairs, 9 commodities, 35 indices, and 80 international stocks. Traders can trade both binary options and CFDs on these available assets. The minimum initial deposit amount is $250, and traders can make this deposit with Visa, MasterCard, Visa Debit, Bitcoin, Ethereum, other Altcoins, Neteller, Skrill, Perfect Money, and Vload. Deposit times are nearly instant or up to 1 hour and withdrawals are about the same. The customer support provided by RaceOption is quick to respond, very helpful, and is available 24/7 via email and telephone. RaceOption’s primary goal is to provide their clients with a safe and secure trading environment, as well as to provide them with all the tools and resources needed to succeed.
RaceOption Bonus System and Types
RaceOption features a very attractive bonus system in which traders will not want to miss out on. They offer exclusive bonuses and promotions to new clients and they also reward existing clients with enticing bonuses to encourage more trading. The bonuses offered are not indefinite and are usually offered for a limited time before switching them up. See below, the current bonuses offers by RaceOption.
- The first welcome bonus traders receive is when they register for an account. After registering for an account which takes less then 1 minute, the trader will receive a gift. Currently, this gift for registering an account is 4 training video lessons.
- Traders who make an initial deposit of $250 – $999 will receive a welcome bonus of +20%.
- Traders who make an initial deposit of $1000 – $2999 will receive a welcome bonus of +50%.
- Traders who make an initial deposit of $3000 – $50,000 will receive a welcome bonus of +100%.
Contests & Tournaments
- Every week, traders can sign up and participate in contests or tournaments that issue rewards for the winners. RaceOption rewards 20 traders every week from a prize fund of $20,000.
- While a demo account isn’t necessarily a bonus, we have listed it here because it is a nice feature that isn’t always offered by trading brokerages. The demo account allows traders to practice using the RaceOption trading platform with virtual money. This allows them to get comfortable before depositing real money and collecting the welcome bonuses.
RaceOption Software Type Information
RaceOption provides their traders with a proprietary web-based trading platform that’s compatible across desktop computers and mobile devices via the web browser. The platform is very well designed and easy to use, making it a viable option for beginner traders. Also, the platform is still advanced enough for more experienced traders. It supports a variety of trade types and various advanced features. See below, the trade types and features the RaceOption trading platform provides.
- Instant order execution of trades
- Live and interactive charts
- High/Low Options
- 60 Second Options
- Ladder/Pair Options
- One Touch Options
- Long Term Options
Why choosing RaceOption Forex Broker?
The RaceOption online trading brokerage is a viable trading brokerage that features numerous benefits to their traders. For instance, see their primary advantages below.
- Guaranteed withdrawals processed within 1 hour.
- Non stop trading, even over weekends.
- Wide range of deposit and withdrawal methods.
- 100% secured trading with full data protection.
- Trade under experienced trader guidance if you meet the account requirements.
- 24/7 multilingual customer support.
- More than 10,000 daily processed transactions.
- High payouts of up to 95% and averaging around 70% – 90%.
We highly recommend trading with the RaceOption online trading brokerage as they are reliable, trusted, secure, and offer a diverse range of investment products, trade types, and bonuses. All in all, RaceOption is a lucrative trading broker with a high level of customer care and investment services.
RaceOption Review – Scam or not?
You are searching for an honest review of RaceOption? – Then you are completely right on this page. With more than 5 experience in trading Binary Options, I tested this Broker and give you an overview of the conditions. Also, you learn how to trade and open your account. Find out if it is really worth to invest money with this company or not.
What is RaceOption? – The Broker presented
RaceOption is an international offshore Broker for Binary Options and Forex/CFD Trading. Whether you want to invest short-term or long-term into financial markets, you will find enough options on the platform. The broker RaceOptions belongs to the Race Projects LTD. I have to mention there is not a lot of information about the company.
The advantage of an offshore broker is that they accept customers from everywhere. RaceOption offers 24-hour support in different languages. In addition, they can offer special programs for their clients. For example, you can get a high bonus and trade without verification.
Facts about the Broker:
- RaceOption belongs to the Race Projects Ltd.
- Offshore Broker
- No regulation
- Accept international customers
- 24/7 Support in different languages
Review of the conditions for traders
The broker RaceOptions allows you to trade Binary Options and Forex/CFD on one platform. These are 2 different financial products. For most traders, Binary Options are more popular. The minimum deposit on the platform is 250$ and you only can get a demo account after your first deposit.
At first glance, the platform is looking very professional. You can choose long-term or short-term expiry time for binary traders. Trade currencies, stocks, cryptocurrencies or commodities with this platform. The yield is between 70% and 90%+. It depends on the traded asset class. Furthermore, the spread for Forex/CFD is low as 1 pip and the leverage can be up to 1:100.
Weekend trading is available so it is possible to trade 24/7 with this platform. If you deposit more than 250$ you can get a higher account type for more profit. Also, there is a bonus program. In conclusion, it seems that RaceOption offers all the options which a trader needs to trade successfully the financial markets.
- Minimum deposit 250$
- Demo account only available after the first deposit
- Trade Forex/CFD and Binary Options on one platform
- Yield between 70% and 90%
- Leverage up to 1:100
- Weekend trading 24/7
- Account types
- Bonus program
Test of the RaceOption platform
The next step in this RaceOption review is to take a look at the trading platform. As you see in the picture below the platform is very clear and easy to use. In the next section, I will show you a step by step trading tutorial.
The platform is available for Webbrowser and Android devices. You can download the app in the google play store. Traders can change between Binary Options and CFD/Forex by only one click and analyze the markets through different chart types. The charts are provided by TradingView. This is a huge advantage compared to other brokers.
Charting an analysis
When it comes to trading successfully it is necessary to do a chart analysis to get the best entry for your trade. The RaceOption platform offers the tools of the charting service TradingView. You can use technical drawing tools and a huge range of indicators. They all what you need to do a complete technical analysis.
Another advantage of the platform is the news section. You can read the latest news and trade economic events with the calendar. Also, there is a summary of different analysis tools for you. One the one hand traders can do a fundamental analysis with this platform and on the other hand, there are enough tools for a correct technical analysis.
Facts about the trading tools:
- Charts are provided by TradingView
- Huge range of indicators and technical drawing tools
- Market News
- Fundamental News
- Use different strategies
How to trade Binary Options with RaceOption:
From my experience, it is very easy to understand how it works to trade Binary Options. The financial product is so popular because of its easy and clever design. You get a limited risk and possible return of investment. Choose between different time horizons. The price has to be above or under your entry point to get the high yield of up to 90%+.
With Binary Options you can invest in rising or falling markets. In addition, no matter how strong the movement of the market is, in the end, the price of your market and entry point is important. Do a forecast of the market movement and start trading. In the picture below you will see a graphic design of the platform and I will give you a step by step tutorial.
How to trade with RaceOption
Step by step tutorial:
- Choose an asset you want on the platform
- The yield depends on the asset class and expiry time of the trade
- Make your analysis and predict the future chart movement
- Choose the expiry time of the trade
- Invest in rising or falling prices
- Earn a high profit or lose your invested amount
- The price has to be below or up your entry point
Open your account with RaceOption
It is very simple to open your account with RaceOption. They accept any customers and you do not need a verification because it is an offshore broker. Just type in your real data to open the account in less than one minute. After that, you will get direct access to the trading platform and you are able to do your first deposit.
RaceOption review of the deposit and withdrawal
For you deposit and withdrawal you can use different electronic payment methods. Sometimes the payment method depends on your country of residence. At the moment you can use methods like a credit card, bitcoin, perfect money, and other cryptocurrencies. The deposit proceeds directly to your account balance.
When it comes to withdrawal your money by unregulated Binary Options Brokers it is sometimes very difficult. RaceOption says that they proceed their withdrawals very quickly and in less few hours. If you choose a higher account type your payments will be processed faster. I recommend to be careful with offshore brokers and withdraw your profits directly on the platform.
Facts about the payments:
- Credit Card (Master, VISA)
- Bitcoin and more cryptocurrencies
- Perfect Money
- Skrill, Neteller
RaceOption Bonus Program – Get additional money
RaceOption can offer you a high bonus of up to 100% and more. The bonus amount depends on your deposit amount. Traders can choose if they use the bonus or not. It is a good way to get additional money to the account balance. Then you can trade with more risk for a higher profit.
The bonus is always linked to conditions. You can read them transparently on the platform. The client has to do a turnover of 3 times of the bonus in order for the withdrawal. So that can happen very fast if you do day trading. In addition, there are risk-free-trades. This means that you can lose one trader and you get the lost amount as bonus credited to your account balance.
Facts about the bonus program:
- Deposit Bonus
- Maximal Bonus 10000$/€
- Make a turnover of 3 times
Test of the support and service for traders
The last important point to check in this review is the customer support. RaceOption offers 24/7 support and service via live-chat. Also, there is the possibility to make phone calls to different international numbers. From my experience, chat support works very fast and professional. You will get the right answer to your questions.
Otherwise, there is a huge FAQ for your questions and you can get trading tutorials by the support. In conclusion, the big advantage of this broker is the 27/ support in different languages. Only a few brokers offer this concept.
Facts of the support:
- 24/7 available
- Phone, Chat, Email
- Video Support
- FAQ and tutorials
- Available in different languages
Can you trust RaceOption? – Conclusion of my Review
In the sections, before I showed you the conditions and how to trade with RaceOption. For me, it seems like a reliable provide for Forex/CFD and Binary Options Trading but I have to mention that it is an unregulated offshore company. So please be careful with your deposit and withdrawals. I recommend withdrawing your profit immediately.
On the otherhand, an offshore broker got some advantages. You can get a high bonus and start trading without verification. In conclusion, RaceOption offers all tools which a trader needs to trade successfully the markets.
The advantages of RaceOption:
- 24/7 support
- Bonus Program
- Accept international traders
- Yield is up to 90%+
- Different account types with bonus and special tools
- Trade 24/7 on the platform
It is clear to see that Raceoption mean business and that their all-around offering to traders is making them a serious competitor in the binary options market place. From their easy to use trading platform to the fact that they offer such good withdrawal terms, you can't help but feel that this broker is going to experience a lot of growth, quickly. With a base in London, reputable licensing, an acceptance of US customers they tick all the boxes when it comes what traders want.
A recent entrant into the binary options market place is Raceoption, a UK company with a very user-friendly trading platform and a clear understanding of the technical requirements of the binary options trading environment. Launched in 2014 and based in London, they are one of the few brokers to accept US customers and in fact, trade across all nations.
The number of assets available to trade on is more than 150 and the currencies available to trade in are USD, EUR, RUB and GBP. Currently, you can trade in a choice of languages including Spanish, French and Russian. The site is built with the user in mind, and the first noticeable thing to occur when you land on the website is the customer service chat pop up box asking if you need assistance.
Although only having launched recently, Raceoption has been able to use the market demand to tailor their platform to give traders what they want. These benefits include the technological features of the site, the bonuses and payouts on offer and the unique features offered such as Paypal and 1-hour withdrawals.
In this review, you will learn:
- What this trading platform has to offer you
- How they've used a delayed entry to an advantage
- The bonuses and payout methods Raceoption has
Account Types - 9.2
Quite simply, the account types offered by Raceoption are a combination of the most demanded services by traders. Rather than providing a whole host of accounts from the standard basic account right up to the VIP exclusive account with all the bells and whistles they give the trader a choice of Bronze, Silver and Gold. To complete their account offerings there is a free Raceoption demo account available on request, so be sure to ask and test that out first before trading with real money.
The Raceoption Bronze Account requires a minimum deposit of $250 and offers a bonus upwards of 20%, a trading course consisting of a book and video and a demo account which are an ideal condition of most traders. 1-hour withdrawals are available as standard with all Raceoption trading accounts. Once you open an account, you will receive not only your match deposit bonus but also a free gift.
With a deposit of $1,000, you can open up a Silver Account. The bonus potential with a Silver Account is 50% and upwards and you get all the benefits of a Bronze Account plus the addition of plus a masterclass web session, first 3 risk-free trades and trading protection. The Raceoption Silver Account is, in fact, their most popular trading account amongst their clientele.
The top end of their trading accounts is the Gold Account with the features of a Silver and Bronze Account as standard plus the addition of many more. To open a Gold Account, you will need a minimum of 3,000 dollars with a maximum deposit amount of $50,000. A Gold Account sees the addition of your account manager to help you with your trading requirements.
Trade Types And Payouts - 9.4
The maximum payout from successful Raceoption trades is 90%. Trading options are as follows.
Perhaps the most popular choice of options the High/Low option is also known as the Call/Put options and is simple to execute. Just decide whether the asset will rise or fall in a designated time.
60 Second Trades
60 Second trades need a steady approach and a level of concentration and a quick reaction to trading opportunities. They are quite simply, as the name suggests, 60 Second or one minute expiry times, so you don't have long to spot and seize the moment.
Ladder trades, where the various price points are located at an equal distance apart, mean that there are several opportunities to yield results. Essentially reaching any of the price points before the expiry time will see returns but none as high as achieving the highest of the price points.
Another simple way to trade, the One Touch option is based on whether you think your chosen options will touch a target price before the expiry time.
Long Term Trades
Whereas many trades are placed over a short period with an expiry time of say 60 seconds to an hour with Long Term trades the trader makes their predictions of what will happen to the price of an asset over a week or so. Long Term options do require patience, as the results take longer to show.
The broker operates a weekly free contest, with a prize fund of up to $20,000.
Bonuses And Promotions - 10.0
The bonuses on offer from Raceoption are dependent on the type of account opened and can vary. With a bronze account, you can achieve a deposit match of the bonus of 20% or upwards whereas when opening a gold account this rises to 100% plus.
As well as bonuses there are also other promotions available such as a gift when you open a Raceoption account. The broker also operates a weekly free contest with a prize fund of $20,000.
Mobile Trading - 9.6
It's no surprise that as a late entrant into the binary options trading space that Raceoption entered with its eyes wide open to what traders wanted. This is indeed apparent when it comes to their online trading platform which not only caters for desktop users but also has an intuitive, mobile-friendly trading option.
As well as a fully responsive mobile site, there is also an app available on the Apple App Store or Google Play. The mobile app experience has been carefully considered and designed to give the trader the ultimate trading experience, and it works flawlessly on all devices, including Android and iOS (iPhone and also iPad).
Deposits And Withdrawals - 9.6
Raceoption have set themselves at the forefront of brokers with their 1-hour withdrawal service. Whereas most traders have to wait between 24-72 hours for their withdrawals to be available to them with Raceoption, the money is returned within an hour regardless of what type of account the trader is using. We tested this 1-hour service and are happy to report we had no withdrawal problems doing so.
They are also one of the few brokers to accept PayPal meaning that the service is accessible to so many individuals looking to trade. Deposits can be made via credit or debit card or one of the increasingly popular e-wallets. At the time of writing the minimum, a trader can deposit $250. Charges for these services need to be considered and whether you will pay per transaction or a percentage of the sales made.
Special Features - 10.0
Raceoption has many unique features we could probably dedicate most of this review to their unique characteristics, which can be credited to their recent launch. While any brokers who entered the market place earlier on have had to learn as they go and keep up with a very fast-paced technological world, Raceoption has been able to sit back, take stock and bring a product to market that they knew that traders are looking for.
Their website is sharp; it is intuitive and user-friendly even down to the colours of the site. The mobile offering makes it accessible to any means of trading and the simplicity of the platform, account types, payouts etc. make them a serious contender in the binary options trading space.
Their education centre and demo accounts alongside all of their other features make them a broker with a lot to offer, but perhaps their unique feature is the fact that they accept US traders, which is rare in the current market place given the strict US regulations, and the fact that they offer 1-hour withdrawals. Let's face it who doesn't want to get their money back a lot quicker than 3 days?
Customer Support - 9.4
It is evident from the outset that Raceoption offers a good level of customer support contact, whether on the desktop site or a mobile device. As soon as you arrive on the site a pop-up chat box appears asking the visitor if they would like any help. With many sites, you have to scroll to the bottom of the page looking for the very small "contact us" link, but with Raceoption their contact number is clear for all to see at the top left-hand corner of the site along with options to start a live chat with a customer service expert. This ease of contact further goes to enhance their reliability and trustworthiness as a broker.
Conclusion - 9.6
We're going to complete our Raceoption review here. As always we scour the web for complaints and reports of a rip off scams. We also test the brokerages to see things for ourselves. During our dynamic review process, we found nothing of concern and all fingers to point to a legit broker who wants to do things the right way.
It is clear to see that Raceoption mean business and that their all-around offering to traders is making them a serious competitor in the binary options market place. From the ease of access to their trading platform to the fact that they offer such good withdrawal terms, you can't help but feel that this broker is going to experience a lot of growth quite quickly. It's no surprise that they are experiencing such great support and success so far.
With a base in London, reputable licensing, an acceptance of US customers, a fantastic trading platform and many more offerings they are ticking all the boxes when it comes to having everything that a trader is looking for.
Frequently Asked Questions
Is Raceoption legit, will they scam me?
All of the binary options brokers recommended by us are legitimate, regulated and have the appropriate licensing and Raceoption is no exception.
Do they have a decent mobile or tablet app?
Raceoption is a new entrant to binary options and has come into the market, offering the best of everything. Their platform is technologically advanced to ensure that traders get the best experience.
What bonus do they offer for new traders?
Raceoption offers a welcome bonus ranging from 20% to 100%. If you were to deposit $250-$300 dollars, you would get a 20% bonus, $1,000-$1,500 dollars gives you 50% and $3,000-$6,000 is 100%
Can I start trading on a free demo account?
Yes, a demo account is entirely free to use once you open a Raceoption trading account. To unlock your account, you will need to deposit 250 dollars, which is the minimum amount required.
What's the minimum deposit and trade amount?
The minimum deposit amount required to open a Raceoption demo account is $250, which will get you the bronze account. The minimum trade amount is amongst the lowest in the industry at just $1 per trade.
Raceoption who works on behalf of the financial company FGC (Finance Group Corp.), who are themselves licensed to carry out such activities. Since 2014, the broker has been successfully reaching traders. The reason for its success seems to lie in its unique services and advanced features.
The company offers an advanced trading platform. And yet you may be asking: is Raceoption a scam or is it a decent broker for the European trader? This question is answered in today’s detailed review. The first thing you should pay attention to is the platform – simple and convenient, with all the functionality necessary for comfortable work. There are no extra buttons and actions, and the fast operation of the system allows you to trade efficiently.
Having begun with the successful conquest of the Asian and Australian financial markets, today Raceoption is known all over the world. It offers one of the best trading services and employs a variety of features to help make clients happy, including bonuses, contests, tutorials, the copying of the transactions of successful traders, opportunities for deposit and withdrawal, and a wide list of assets. Also, you can try out their services with a free demo account.
It’s worth noting that the company follows modern trends. The website is available in several languages, including English, and the web platform works well in all popular browsers and has a mobile version that allows you to trade at any time.
All of this testifies to the fact that the broker is not only trying to find its own niche in the market, but also offers a truly thoughtful service for trading, which wouldn’t be possible if they weren’t legitimate. If you have questions, they have a 24/7 support service that is reachable by live chat in the web browser, e-mail, or phone. It is also striking how dynamic and well-organized the work with market players is: it is almost the only broker that guarantees withdrawals in record time – within an hour. Trading on the platform is possible around the clock and even on weekends.
Deposit & Withdrawal Methods
Since the broker works with traders around the world, it offers an expanded selection of deposit and withdrawal methods: VISA, VISA DEBIT, VISA ELECTRON, mastercard, Bitcoin, Maestro, Perfect Money, Bank wire transfers, QIWI, Webmoney, Neteller, and Skrill. This number of payment systems allows the company to make a guaranteed withdrawal within an hour.
To deposit money, you need to register with the broker and then go through a verification procedure. That they require verification is another point that helps to show Raceoption is a reliable broker. After the funds are transferred, they are immediately displayed on the account, allowing you to begin trading at once. Trading is possible with different currencies; you can choose from USD, RUB, EUR and GBP.
Complaints against Raceoption
While the broker is relatively young, the fact that there are no online reviews from European traders is alarming. Also, the fact that all of the broker’s trading terms and conditions are in English limits the possibilities of a non-English-speaking audience and also reduces our level of confidence.
There is no information about the license, which also affects the brand negatively, because the majority of serious traders work only with licensed brokers. If there are problems, you can always get help from the regulator. If Raceoption still aims to reach a large audience of European traders, it should seriously think about the quality of its website materials as a reliable brand identity.
Raceoption: Is It a Scam?
Raceoption does not currently have online reviews. This, plus the absence of a license, prevents us from fully trusting the platform.
It’s worth noting the fact that the company offers opportunities for training, bonuses, and contests for its customers; some of the services are really unique (a convenient trading terminal, the ability to withdraw funds within an hour, round the clock trading), which characterizes it as a seriously tuned in broker and not a fly-by-night company.
Is it worth considering Raceoption a scam? At this stage of the company’s development, we suggest it is too early to draw such conclusions. If you decide to work with them you can help protect yourself by studying their rules and procedures, as well as by correctly structuring your work with your Personal Manager and passing a full verification in the system.
The official website does not provide information about the regulation of the broker. However, in the website’s materials, the section «User agreement» states that the company works on behalf of the financial company FGC (Finance Group Corp.), which has a license to carry out such activities. At the same time, there is no license number on the website or in the network, which reduces our confidence level.
Bonuses are available to every broker’s trader:
1) Accrual to the account. The amount of such bonus can reach up to 100% (depending on the deposit funds). This is the money that is available on the trading account; it can be traded. Conditions of working with bonuses should surely be discussed with the personal manager.
2) First 3 risk-free transactions (for «Silver» and «Gold» account holders). The bonus makes it possible, if the amount of the first three transactions is negative, to compensate for losses in the form of bonuses for and on behalf of the broker. To use the bonus, you should contact the account manager, who will inform you about the bonus amount and your opportunities.
Trading binary options broker Raceoption is quite a young company, has been gathering momentum, and has every opportunity to get high ratings from trading professionals. Already now the company provides unique services to its users, which indicates that the company is on the right path of development. The unique functions of the terminal, thoughtful bonuses, the possibility of training – all of this positively characterizes the broker, indicating a successful start and a correctly chosen path of development.
Aside from this, at the moment, it is unclear what the company’s relationship is with another, more famous broker – Finpari, from the official website of which the user automatically goes to the resource of Raceoption. Most likely, it is a change of brand, but there has not been any official statement from the broker.
And yet, it is now difficult for the trader to work and trust the service that does not have full information about the rules and its license. All this should be provided on the official website of the broker, if he plans to work seriously in Europe. One can only hope that the broker directly corrects the situation by keeping the pace of its successful start.
It is fair to note that Raceoption has not yet shown itself in full measure. Respectively, it’s too early to evaluate it as a reliable or fraudulent company. However, the reviews of traders we are waiting for can not only affect the broker’s ratings, but also warn about possible problems.
A new face in the binary options market, RaceOption has risen in the broker ranks since its conception in 2014. Based in London, RaceOption offers traders and investors across the globe a user-friendly trading platform with plenty of perks.
They have a vast selection of assets and accept plenty of currencies, which means you'll never have to worry about not being able to make your deposits or withdrawals. With advanced technology, impressive bonuses, and a guided trading facility, RaceOption made a name for itself in the binary options market in a short time.
In this review, we'll fill you in on their trading platform, regulations, account types, and more, so you can make an informed decision about whether RaceOption is the binary options broker for you.
The RaceOption trading platform is one of the most intuitive and easy to use in the binary options market. Everything is laid out in front of you on their web-based interface, so no matter what aspect of your trading experience you want to see, you have it at your fingertips.
RaceOption uses a platform similar to the SpotOption platform, though they've changed it up a little. RaceOption's platform makes the trade interface even simpler by giving you access to everything you need all in the same space, without a convoluted layout.
You'll see how much you've invested in the top right corner of your screen. Right below it, you can add to that amount, see how much time you have left in your timed trade, and as you predict the market outcome, when it comes time to invest, you can't miss the bright call and put buttons near the bottom.
On the left side of the screen, you'll see which assets you're trading as you watch the trends on the chart in the center of the platform. This accessibility makes RaceOption's platform excellent for both beginner traders and experienced investors who want to make some easy trades, without worrying about in-depth statistics.
However, if your goal is to have all of those extra features, RaceOption's platform may not satisfy you. Even the best trading platforms don't suit everyone's needs, so make sure you know yours if you're thinking of trying a new broker.
Like many binary options brokers, RaceOption offers tiered accounts. Each one gives traders access to different features, and the one you choose decides how extensively you can use the RaceOptions platform and which features you can take advantage of.
RaceOptions gives you a choice between three account types:
A Bronze RaceOption account is the most basic level, and it's the one many beginners start with. With a minimum initial deposit of $250, you get access to standard features like:
- 20% bonus
- 24/7 live video chat
- Copy Trading Tool
- Withdrawals within an hour
- Demo account
Although Bronze is the lowest tier, you can still use some of their educational materials, including a book and a video that walk you through the trading process, if you're not familiar with it. Plus, you still get access to RaceOption's other bonuses, which we'll talk about later.
RaceOption's Silver tier is also their most popular one. It requires a much higher initial deposit of $1,000, but you get almost twice the features you'll see with a Bronze account. If you've already spent some time in the binary options market, the Silver tier allows you to take the next step with more advanced materials.
With this account, you'll get all the standard features you'd find in the Bronze tier, plus:
- A master class web session
- Individual account manager
- 50% bonus or higher
- First three trades are risk-free
The master class web session gives you the educational materials you'd expect to see for a trader who has reached at least the intermediate level. We'll get into risk-free trades when we talk about bonuses and promotions.
The Gold account is RaceOption's highest tier. Along with your minimum $3,000 deposit, you'll get the maximum number of features and perks. This tier is best for experienced traders who have gone past the basics and are ready to go all out with binary options.
With the Gold account, you'll get everything in both the Bronze and Silver accounts plus other features like:
- Integrated technical analysis
- 100% bonus on your initial deposit
At first glance, it may not look like much more than the Silver account, but integrated technical analysis can help you make the best trades and improve your trading technique. In other words, this higher deposit may mean you get a higher payout as you learn and develop your own personal trading methods.
RaceOption offers several trade types, all of which you can do from their web-based platform with the touch of a button.
- High/Low options: High/Low options is one of the most widely used types of binary options trade because it's also the simplest. RaceOption's platform shows call and put options at the bottom of their trading platform, so you can easily choose one or the other. All you have to do is click one to predict whether the market will be higher or lower than it was when you began your trade and then get your payout if you're right.
- 60-second options: With these trades, you only have one minute to make your trade. If you do it at the right moment, you'll get a payout.
- Ladder/pair options: Ladder/Pair options allow for more payouts, even if they're not as high as the previous two types. If you trade anywhere within the price points provided, you'll get a payout.
- One-touch options: One-Touch options aren't about making trades based on the touch of a button. Instead, your goal is to predict a price point that the asset price will touch by the end of the time limit. If it does, you get a payout.
- Long-term options: Long-term options are the opposite of 60-second options. With this trade type, you're playing the long game, waiting up to a week as you predict where the asset price will fall over several days instead of seconds.
RaceOption has an impressive number of assets—over 150. The incredible variety has the potential to appeal to investors from all over the world, which helps RaceOption cater to more demographics. You have your pick between:
You may have noticed one conspicuous discrepancy in this list, cryptocurrency. While RaceOption could add cryptos like Bitcoin, Ethereum, and Litecoin to its repertoire, it has yet to do so. That can make it more challenging to reach traders who are either younger or more technologically invested than others.
However, despite the lack of crypto, RaceOption still manages to be an attractive broker for many traders, as they have just about every other type of asset you'll find with most binary options brokers.
Payouts and trading conditions
RaceOption payouts start as low as 60% and can reach as high as 90%. It's not as high as the 100%, or even 200%, payouts you see elsewhere, but it is comparable to the market overall.
The CFD market works a little differently. Instead of sticking between those percentages, your payout depends on your investment and the general market direction. Binary options carry a higher risk, as the markets change more rapidly, and whether you get a payout at all has less to do with the amount you've invested.
Whenever you invest with RaceOption, you must put in a minimum of $1, although you can't go over their $1,500 limit per trade. RaceOption also has a sell-out feature. This feature allows you to close your trade before the end of the allotted time limit and gives you a partial refund, depending on how much time you have left.
RaceOption is part of the Finance Group Corp (FGC) and Suomen Kerren, LP. Both are registered in Vanuatu, though RaceOption itself is based in London. While these companies don't offer quite the same level of protection as regulatory bodies like FCA or CySEC, there haven't been many problems with them or RaceOption.
Because of the minimal regulations, RaceOption can offer more assets, more trade types, and allows traders from more areas to participate in binary options trading. For example, while many brokers prohibit investors from the United States, RaceOption is one of the few that doesn't. That also means you can trade more currency types if you decide to try forex trading.
The biggest problem with the lack of regulation is how unclear certain policies become. While RaceOption supports US traders, regulatory bodies in the US don't support RaceOption. Fewer regulations can also create a less reputable company, although, in RaceOption's case, many traders have had positive experiences.
Bonuses and promotions
Earlier, we mentioned several RaceOption bonuses and promotions, and this is one area where the lack of regulation plays to your advantage. You can get some bonuses just by signing up for an account—even at the Bronze level—while others take time and require you to participate in trades.
A lot of the possible bonuses depend on the type of account you start with, and the more you invest, the higher your bonus. With a Bronze account, you get a 20% initial bonus for investing $250 to $999. A Silver account gets you a 50% bonus with $1,000 to $2,999, and a Gold account gives you the most, with a 100% bonus after you invest at least $3,000. With a maximum initial investment of $50,000, you could end up with $100,000 in your account right off the bat.
With the Silver and Gold tiers, you also get three risk-free trades. These trades prevent you from losing money if you make an unsuccessful trade, and you get funds in the form of a trading bonus instead.
You also have the option to participate in RaceOption's trading contests. Each month, RaceOption holds a competition where traders see who earned the most from their trades. The company offers $20,000 worth of prizes, ranging from $10,000 to the top spot to $100 bonuses to other winners. They pick 40 of them, so if you're a skilled trader, you can land a spot on their winning chart.
In addition to its web trading platform, RaceOption offers an even more convenient mode of trading with its mobile platform. While older binary options brokers created their mobile apps later, RaceOption entered the scene with theirs.
You can download the mobile app for both Android and iOS with all of the same benefits you'll find on the web platform. You still get CFD trading, 60-second, and One-touch trading, and you can manage your account and portfolio wherever you go.
The app is free, so you don't have to worry about extra fees. Plus, with only one login, your information and funds are secure. You can even view your account history and see live CFD charts, so you know what's happening in the market at all times.
RaceOption offers a demo account for any new traders. That doesn't mean you have to be new to binary options trading; you can use your demo account to explore RaceOption's platform to see how you like it.
Demo accounts are unfortunately only available if you open an account, but that doesn't mean you need to start trading with your actual funds right away. If you're just learning how to trade, their demo account will let you practice trading on the RaceOption platform without the risk of losing your funds right away.
RaceOption isn't clear about how much virtual money you get with your demo account, just that you have to request the account because it isn't an immediately available option. You also have to deposit money into your account before you get the demo, even though you're not using your funds for it.
However, if you decide after testing the platform with your demo account that you don't like RaceOption's services, you can withdraw your funds without penalty.
RaceOption has a high minimum deposit at $250 for their lowest tiered account. Still, they offer an efficient deposit service, allowing for payment methods that other brokers may not.
RaceOption accepts the following methods of deposit:
- Credit card (including VISA and Mastercard)
- Debit card
- Bank wire transfer
- Cryptocurrency (including Bitcoin, Ethereum and several altcoins)
RaceOption also accepts PayPal, which makes their services more available to traders and more secure. RaceOption does not charge a service or transfer fee, except 5% for credit cards. They do warn you to be wary of fees charged by a third party, including your bank.
With credit card options, your funds will appear in your account immediately, although all other methods take up to an hour to process.
RaceOption's withdrawal process is unique. Whereas most other binary options brokers say your withdrawal will process in one to three days, RaceOption does it in an hour, regardless of your withdrawal method. It's the same with a credit card as it is with cryptocurrency or e-wallets.
You can use all the same payment methods as you can to deposit funds, too. While this fast service may make the company seem suspicious, traders have not reported any problems with their processing, whether with speed or security.
RaceOption makes it easy to contact them through plenty of channels. Besides support by email and phone, a chat window pops up when you visit the site.
While it stays off to the side at the bottom of the screen, its blinking green light reminds you that someone is always there to help if you have a problem. RaceOption also makes all other methods of contact visible, with their phone number at the top of each page. If you don't need immediate assistance, you can also use the contact form on their website.
You can contact RaceOption by:
- Phone: +1-829-947-6392
- Email: [email protected]
- Address: Finance Group Corp, 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu
You can also find them on social media channels like Instagram, Facebook, and Twitter.
RaceOption offers plenty of advantages to both new and experienced traders. We've gathered them here so you can decide whether RaceOption is the best broker for your binary options trading experience.
- User-friendly trading platform
- Lots of bonuses and contest opportunities
- Available all over the world
- Over 150 assets
- Fast deposit and withdrawal processing times
- 24/7 customer support
While RaceOption may look attractive after seeing what it has to offer, each broker has its downsides, too. Here are some of RaceOption's to help you make a more informed decision about this broker and their platform.
- Not regulated by FCA or CySEC
- Demo account not readily available before the initial deposit
- High initial deposits
- No cryptocurrency trading
While a binary options broker with few regulations can send up a red flag, RaceOption is widely known as a reputable broker with a convenient platform. The company shows that they value their traders, and they offer bonuses to prove it.
If you want to proceed with caution (which you always should when investing), test out the platform with their demo account. You can always withdraw your funds and move on to the next broker.
Raceoption – Broker Review
Founded in 2014, Raceoption is a binary trading platform that is owned by the Vanuatu based Finance Group Corp. The platform is however managed by a Scottish management company called Suomen Kerran LP. Although Raceoption operates from the United Kingdom, its operations fall under the regulatory license issued by the Vanuatu Financial Services Commission.
1. General Information
If the name of the company Soumen Kerran LP sounds familiar, this is due to the fact that this company also manages the operations of another binary options trading platform called Videforex. Unknown to most people, the parent company Finance Group Corp is a large company with many diversified interests in online investments.The Videforex and Raceoption brands are part of the Finance Group Corp’s business strategy to diversify their investments to cater to the different demographics around the world.
Regardless of Raceoption’s corporate structure, the trading platform since it first began operations in 2014 is already a relatively known brand among the binary options trading community. The goal of Raceoption has always been to offer its clients a safe and secured environment for traders to trade binaries.
2. Advantages and Disadvantages
Extensive coverage of markets: There are more than 150 different types of underlying assets available for trading with this broker.
High Returns on Investments: Raceoption offers a maximum return of up to 95%. This is higher than the market average of 85%.
Innovative Live Video Chat: Their Live Video Chat service offers a more personalized touch.
Fastest Withdrawal processing Time: Raceoption guaranteed that all withdrawal requests are processed within the hour of the request being submitted.
Demo account restricted to registered clients: All registered clients of Raceoption are able to access the demo account facility.
Withdrawals subjected to minimum amount restriction: The withdrawn amount must at least be $50 before it can be approved.
3. Trading Conditions
With regards to the trading conditions at Raceoption, traders are offered 3 main types of option contracts, Intraday, Turbo and Long Term. These are essentially Call/Put options but with different expiry times. Turbo options have the shortest expiry times while long term options’ expiry times are the longest. As for the return on investments, they typically range from 70% to 90%. However the maximum return can be as high as 95%. Raceoption is also quite flexible with the size of the trades that their traders can make. For example, they can invest with as little as $1 or as much as $1500 in a single trade.
4. Underlying Assets
In terms of market coverage, there is an extensive range of underlying assets at Raceoption to choose from. The underlying assets are all chosen from major asset classes such as currency pairs, commodities, equities and market indices. For currencies, there is a choice of 15 pairs. As for commodities, traders at Raceoption have 9 types to choose. Next, there are 35 indices to trade with. For stocks, traders have a choice of 80 international stocks to select from. A master list of showing all the available underlying assets can be found on Raceoption’s website.
5. Trading Platform
The trading platform that can be found on Raceoption’s website is the same platform that is used by all the brands under the FGC Group. A web based proprietary platform which is accessible through any web browser, the trading platform is easy to use and is well designed in terms of navigational interface. The available assets are prominently displayed on the left side on the trading screen. In the middle of the trading screen, you get a large price chart. Prices are updated in real time and you can easily follow the performance of the asset. The trading parameters can be set through the tabs found on the right side of the trading screen.
While simple when compared to the trading platforms used by other binary options brokers in the industry, the FGC Group has designed their trading platform well in order to meet the trading needs of their clientele. It has one innovative feature that is not found on any other trading platforms found in the industry which is the live video chat system. The live video chat is not only innovative but also helps to provide Raceoption’s traders with a more personal touch.
6. Mobile Trading
Apart from making their trading easily accessible though a web browser, Raceoption has also provided their trading platform for mobile usage. Designed for iOS and Android powered devices, the mobile trader offers Raceoption’s traders greater mobility by letting them trade straight from their smartphones or tablet computers. The mobile apps are built around the desktop platform and provide superb market access as well. Apart from enabling traders to access the Raceoption trading platform with the apps, Raceoption has also made their website mobile friendly. This means that smartphone users can also access the web based trading platform directly without having to rely on the mobile trading apps.
7. Demo Account
While Raceoption does provide a demo account facility, unfortunately it is only accessible to verified traders that have already funded their trading account. We find this odd as the whole purpose of a demo account is to let potential clients test out the trading platform first before they commit to signing up for a live trading account with Raceoption. Nonetheless, the fact that Raceoption does offer a demo account is still better than the majority of the brokers in the industry that do not provide such a facility.
8. Account Types
Trading accounts at Raceoption are categorized into 3 types, Bronze account, Silver account and Gold account. The minimum deposit for the Bronze account is a mere $250. This account is targeted towards beginner traders who are not confident enough to risk a large sum of money until they are more familiar with trading binaries online. With the Bronze account, traders are also given a 20% deposit bonus and access to the demo account for them to practice with.
For the Silver trading account, a minimum deposit of $1000 is required. Geared towards traders with more online trading experience, this account offers a 50% deposit bonus as well as access to a Master class. It also comes with a “First 3 Risk Free trades” bonus.
Among all the trading accounts provided, the Gold account is the highest level trading account. It requires a minimum deposit of $3000 to open. Benefits of this account include a 100% deposit bonus, all the benefits found in the silver account and access to a personal account manager. Gold account holders are also given a Swiss prepaid card to facilitate their withdrawals.
9. Opening an Account
To open an account at Raceoption, simply go to Raceoption’s homepage and click on the “How to Start” tab to drop down the sub menu. On the sub menu, click on the “Open an Account” tab in order to access the registration form. Simply complete the form and submit it to open your trading account.
10. Funds Withdrawal
Withdrawal of funds or profits at Raceoption can be done through credit cards, eWallets or bank wire transfer. All major credit cards such as VISA or MasterCard are accepted by Raceoption for funds withdrawals. For eWallets, the supported methods include PayPal, Neteller, WebMoney, OKPay and QIWI. Bank wire transfer withdrawals are also supported apart from credit cards and eWallets.
However Raceoption has a requirement that the withdrawn amount must be at least $50 before the withdrawal request can be processed. In addition, the first withdrawal can only be initiated when the trader has achieved 10% turnover of their deposited funds. For example, if the deposit amount is $1000, then the trader must ensure that his trading volume has reached $1000 as well. If he has received a bonus, then the required turnover volume will be 300%. Despite these requirements, one of the major plus points about Raceoption is their withdrawal processing time. The broker has guaranteed that all qualified withdrawal requests will be processed within the hour.
11. Trader Training
As for the educational resources at Raceoption, the tutorials offered are pretty basic. While the information offered is sufficient to get a novice trader started, it will still require many more hours of training before we can say if a person is adequately trained.
12. Should I Trade With Raceoption?
Overall, we were quite satisfied with the quality of Raceoption’s services. While there are certain areas where their services can be improved upon, Raceoption has managed to make up for those deficiencies by introducing a more personalized approach with their customer support. For the first time in the industry, traders are able to see who they are dealing with as opposed to talking to a faceless entity behind the computer screen. In addition, their pledge to process all withdrawal requests within an hour is also the first for the binary options trading industry. These initiatives demonstrate the fact that Raceoption is serious about establishing a reputation as a leading binary options broker in the industry and is worth a tryout.