RaceOption Review

RaceOption is a new broker in the binary options market. It was founded in 2014 and it has made a name for itself in the industry. RaceOption is a broker offering investors and traders around the world a user-friendly trading platform that includes many advantages.

You won’t have to worry about losing your money or not being able to make withdrawals or deposits. They accept many currencies and offer a wide range of assets. RaceOption has quickly established itself in the binary options industry with its cutting-edge technology, exceptional bonuses, and guided trading.

This review will provide information about RaceOption’s trading platform, regulations, and account types so that you can make an informed choice on RaceOption as a binary options broker.

RaceOption is a well-known broker that offers a user-friendly platform. They offer bonuses as a way to show that they value their traders.

RaceOption Quick overview

💻 Trading platformRaceOption has its own trading platform
📊 Types of accounts:Bronze, Silver, Gold, Demo
💰 Currency for account:USD, EUR and CHF
💵 Deposit/WithdrawalVisa Debit, Visa Electron and MasterCard cards, Cryptocurrencies
🚀 Minimum deposit:250 USD
📈️ Minimum OrderMinimum investment: 1 dollar
🔧 Instruments:100+, Forex and Commodities, Stocks and Cryptos
📱Mobile trading:Yes
➕ Affiliate Program:Yes
⭐ Trade featuresCopy Trading, trading tournaments, prize
🎁 Bonuses and contests:Yes

(Risk Warning: Your capital could be at Risk)

Trading platform

RaceOption’s trading platform is intuitive and simple to use. You can see everything on the RaceOption web-based interface.

RaceOption is a well-respected broker that offers a simple platform. 

RaceOption is a platform that’s similar to SpotOption, but they have made some changes. RaceOption’s platform simplifies the trade interface by allowing you to access everything you need in one place.

In the upper right corner of your screen, you will see how much money you have invested. You can see the amount you’ve invested in the top right corner of your screen. Below it, you can see the time remaining in your timed trade. As you forecast the market outcome, you will be able to place investments by clicking the put and call buttons at the bottom.

The left side of your screen will show you which assets you are trading, while you can see the trends in the chart at the center. RaceOption’s platform is easy to use for both novice traders and more experienced investors who just want to trade quickly without having to worry about detailed statistics.

RaceOption’s platform might not be able to meet your needs if you want all the extra features. You may not find the right trading platform for you.

Types of trade

RaceOption offers a variety of trade types that you can access from their web-based platform by simply pressing a button.

  • Low/High options: They are the most popular types of binary options trading. It’s also the easiest. RaceOption’s trading platform displays call and put options at its bottom, so that you can choose which one. To predict whether the market will rise or fall, click on one and you’ll get your payout if it is correct.
  • 60-second options: These trades are quick and easy. You only have one minute to complete your trade. You’ll receive a payout if you make it right at the right time.
  • Pair options/ladder: Pair options offer higher payouts than the other two types. You’ll receive a payout if you trade within the specified price points.
  • One-touch options: Two-Touch options don’t allow you to make trades by touching a button. Your goal is to predict the price at which the asset’s price will touch before the time limit runs out. If it happens, you receive a payout.
  • Long-term options: long-term options are different from 60-second options. This trade type allows you to play the long game. You can wait up to a week and predict the asset’s price over several days, instead of waiting for seconds.

Assets

RaceOption boasts over 150 assets. RaceOption’s incredible range of assets has the potential appeal to investors around the globe, which allows RaceOption to cater to more people. There are many options to choose from:

  • Forex
  • CFD
  • Stocks
  • Indices
  • Commodities

RaceOption has not yet added cryptos such as Bitcoin, Ethereum, or Litecoin. It can be more difficult to reach traders who have more technology invested than others.

RaceOption is still a popular broker for traders despite not having crypto. They have almost every type of asset that you will find with other binary options brokers.

Types of accounts

RaceOption, like many other binary options brokers offers tiered accounts. Each account gives traders access to different features. The one you choose will determine how extensivly you can use RaceOptions platform, and which features you can take advantage of.

RaceOptions offers three types of accounts:

Bronze

The Bronze RaceOption account, which is the most basic, is where beginners begin. You can access standard features such as:

  • 20% Bonus
  • Live video chat available 24/7
  • Copy trading tool
  • Within an hour, withdraw your funds
  • Demo account

Bronze is the lowest level, but you can still access some of their educational materials. This includes a book and video that will walk you through trading if you aren’t familiar with the process. You still have access to RaceOption bonuses which we will discuss later.

Silver

RaceOption’s most popular tier, the Silver tier, is also available. Although it requires a higher initial deposit of $1,000 to open, you will get nearly twice the features as a Bronze account. The Silver Tier allows you to move up if you have already invested in binary options.

This account will give you all the features of the Bronze tier plus the following:

  • Masterclass web session
  • Manager for an individual account
  • Bonus of 50% or more
  • The first three trades are risk-free

You will receive the education materials that you would expect to see from a trader at the intermediate level in the master class web session. When we discuss bonuses and promotions, we’ll be able to talk about risk-free trades.

Gold

RaceOption’s highest level account, the Gold, is available. You’ll receive the most features and perks, along with a minimum deposit of $3,000 This is the best tier for traders who are experienced and ready to take on binary options.

The Gold account includes everything from the Bronze and Silver accounts, plus additional features such as:

  • Integrated technical analysis
  • 100% Bonus on your first deposit

Although it might not seem like much, the Silver account has integrated technical analysis that can help you make better trades and improve your trading techniques. This means that a higher deposit could result in a higher payout if you are able to develop and refine your trading strategies.

Trading conditions and payouts

RaceOption payouts can start at 60% or even reach 90%. Although it’s not as high or as consistent with the market, it’s comparable to the market.

CFD markets work in a different way. Your payout is not fixed at these percentages. It depends on how the market moves and your investment. Binary options come with greater risk because the markets are changing more quickly. The amount that you invest will have less impact on whether or not you receive a payout.

RaceOption requires that you invest at least $1 when you start investing. However, your trade limit of $1,500 is not allowed. RaceOption has a sell-out feature. This allows you to close your trade prior to the expiration of the time limit. You will receive a partial refund depending on how long you have to remain.

Regulation

RaceOption is registered and incorporated under the company name of Makerun Corp located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. These companies may not offer the same protection as regulatory bodies such as FCA or CySEC but there haven’t been any problems with RaceOption or them.

RaceOption’s minimal regulations allow traders from more countries to trade binary options. RaceOption, for example, does not prohibit US-based investors. If you want to trade forex, you will be able to trade more currencies.

The greatest problem with the lack of regulation is the ambiguity of certain policies. RaceOption supports US traders but the US regulatory bodies don’t support RaceOption. A less well-respected company can also be a result of fewer regulations. However, RaceOption’s traders had many positive experiences.

Promotions and bonuses

We mentioned RaceOption promotions and bonuses earlier. This is an area where regulation doesn’t work in your favor. Some bonuses can be obtained by simply signing up for an account, even at the Bronze level. Others require you to trade or take time.

Many bonuses are dependent on the account type you open. The more you invest the greater your bonus. A Bronze account offers a 20% bonus on your first investment of $250 to $999. You get a 50% bonus for investing $250 to $999 in a Silver account. A Gold account offers you the best, with a 100% bonus if you invest at least 3,000. You could have $100,000 in your account as soon as you start investing.

Deposit AmountBonusTotal Deposit
$25020%$300
$1,00050%$1,500
$3,000100%$6,000

You also get three risk-free trading options with the Gold and Silver tiers. These trades protect you from losing your money if you fail to make a trade. Instead, you receive funds in the form a trading bonus.

RaceOption offers trading contests. RaceOption hosts a monthly competition in which traders compete to see who made the most money from their trades. The prizes offered by RaceOption range from $10,000 to the top spot and $100 to other winners. You can be one of 40 winners if your trade skills are good enough.

Mobile trading

RaceOption’s web trading platform is not the only option. It also offers a mobile trading platform that makes it even easier to trade. RaceOption’s mobile app was created by older binary options brokers.

The mobile app is available for iOS and Android. It offers all the same benefits as the web platform. CFD trading is still available, as well as One-touch and 60-second trading. You can also manage your account and portfolio from anywhere you are.

You don’t need to worry about paying extra fees for the app. Your funds and information are safe because you only need one login. You can view your account history, and even see live CFD charts so you are always up to date on what’s going on in the market.

Demo account

RaceOption provides a demo account to new traders. This doesn’t necessarily mean that you need to be new to binary options trading. You can still use your demo account to test RaceOption’s platform and see how it works for you.

Although demo accounts can only be opened if an account is created, it doesn’t mean that you have to trade with real funds immediately. Their demo account is ideal for those who are just starting to trade. You can practice trading on RaceOption without risking losing your funds.

RaceOption doesn’t provide any information about the amount of virtual money that you will receive with your demo account. You must request it because it’s not an immediate option. Even though you aren’t using your funds, you must deposit money to your account in order to get the demo.

You can withdraw your funds if RaceOption services are not for you after you have tested the platform with your demo account.

RaceOption Deposit and Withdrawals

Deposits

RaceOption requires a minimum $250 deposit to open their lowest-tiered account. They offer a fast deposit service and payment options that other brokers might not be able to match.

RaceOption accepts these deposit methods:

  • Credit card (including VISA or Mastercard)
  • Debit card
  • Bank wire transfer
  • Cryptocurrency (including Bitcoin and Ethereum, as well as several other altcoins)
  • E-Wallets

RaceOption charges no service fees or transfer fees, with the exception of 5% for credit card transactions. However, they warn you to be aware of any fees charged by third parties, such as your bank.

Credit card options will instantly deposit your funds into your account. Other methods can take up to an entire hour.

Withdrawals

RaceOption’s withdrawal process for clients is unique. While most binary options brokers claim that your withdrawal will take one to three business days, RaceOption takes less than an hour regardless of which withdrawal method you choose. The same applies to credit card, as well as cryptocurrency and e-wallets.

All payment methods are available to you for depositing funds. Traders have not reported any issues with the processing of their funds, regardless of speed or security, despite this company’s fast service.

Customer support

RaceOption allows you to reach them via a variety of channels. A chat window appears when you visit RaceOption.

It stays at the bottom of your screen but its blinking green light reminds you that you are never alone and someone is always available to help you if you need it. RaceOption makes all contact methods visible with their phone number at each page’s top. You can also contact them via their contact form if you do not require immediate assistance.

RaceOption can be reached at:

  • Phone: +1-829-947-6392
  • Email: support@raceoption.com
  • Address: Makerun Corp. – Nr. 104038. Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.

They can also be found on social media channels such as Instagram, Facebook, and Twitter.

Pros

RaceOption offers many advantages for both novice and experienced traders. These advantages are available so that you can determine if RaceOption is the right broker to help with your binary options trading.

  • A user-friendly trading platform
  • Many contests and bonuses are available
  • More than 150 assets
  • Rapid withdrawal and deposit processing
  • 24/7 customer support
  • Copy Trading

Cons

RaceOption’s offerings may make it look appealing, but every broker has its downfalls. These are RaceOption’s disadvantages that will help you make an informed decision about RaceOption and their platform.

  • Not regulated by strong financial regulators like FCA, CFTC or CySEC
  • The demo account is not available before the initial deposit
  • No cryptocurrency trading
  • High initial deposits

Conclusion

Although a binary options broker that has few regulations may be a red flag, RaceOption can be trusted to provide a reliable platform and is reputable. They offer bonuses that show they value their traders.

You can test the platform by opening a demo account to see if you are comfortable with your investment decisions. You can withdraw your funds at any time and continue with the next broker.

(Risk Warning: Your capital could be at Risk)