Updated: 05/23/2024

Raceoption

Raceoption Review

4.1 / 5
1006 ratings
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.28 Nov 2023
author avatar image Chad Smith

Table of Contents

Raceoption Main Features
Feature Title Feature Value
HeadquartersMarshall Islands
Year Founded2017
Demo AccountYes
Minimum Deposit$100
Copy TradingYes

Raceoption is a trading platform that has gained popularity among traders due to its user-friendly interface and vast range of trading options. With more than 100 stocks, commodities, currencies, and index funds available, this platform caters to both beginners and experienced traders alike. In this review, we will be exploring various aspects of Raceoption, such as account options, trading features, customer support, and the security measures taken by the platform.

Offering a variety of account types, Raceoption ensures that traders can find an option that suits their individual needs and trading strategies. From Bronze Account, requiring a minimum deposit of $250, to higher-tier accounts, traders receive various benefits such as trading courses, demo accounts, and even bonuses. Additionally, withdrawals at Raceoption are known for their swift processing, with a standard withdrawal timeline of just 1 hour for all accounts.

In terms of customer support, Raceoption is highly praised for its responsive team that quickly answers queries regarding account verification, platform usage and more. This platform pays particular attention to security measures and regulations, ensuring that traders can focus on their trades without the worry of compromising their personal information.

Key Takeaways

  • Raceoption provides a user-friendly trading platform with a comprehensive range of options.
  • Multiple account types cater to the needs of traders of varying experience levels.
  • Speedy withdrawals and responsive customer support contribute to a positive trading experience.

Understanding Raceoption

As you explore the world of binary options trading, Raceoption is a broker with a strong presence in the industry. Founded in 2014, this offshore broker is headquartered in the Marshall Islands, a well-known location for many financial service providers. Raceoption offers a range of assets, including forex, indices, stocks, commodities, and crypto for you to trade.

While Raceoption isn’t formally regulated by a financial authority, the platform operates under a strict standard of security and customer service. Your transactions and personal information are protected by SSL (Secure Socket Layer) technology, ensuring your privacy is maintained. It’s important to note that trading with an offshore broker carries certain risks, so you should thoroughly research before making any decisions.

One of the key features of Raceoption is its proprietary platform. This custom-tailored trading platform provides you with a user-friendly interface and an array of tools to streamline your trading experience. This includes fast payouts and a low deposit requirement, giving you flexibility in your investments.

To summarise, Raceoption is an offshore broker hailing from the Marshall Islands, offering a variety of assets on its proprietary platform. Although not formally regulated, the platform has strong security measures in place to safeguard your personal information and transactions. When considering Raceoption for your trading needs, bear in mind the associated risks and thoroughly research before committing.

Account Options

Types of Accounts

Raceoption offers a variety of account types to cater to the needs of different traders. There are three main account types available: BronzeSilver, and Gold. Each account type comes with its own set of features and benefits.

  • Bronze Account: This is the most basic account offered by Raceoption, designed for beginners and casual traders. It allows you to trade all available assets and comes with some basic educational materials to help you get started.
  • Silver Account: The Silver account is suitable for more experienced traders, as it offers additional features such as access to expert consultations and trading signals. This account allows you to trade all available assets and comes with more advanced educational materials.
  • Gold Account: The Gold account is aimed at professional traders, providing them with the most comprehensive trading experience. As a Gold account holder, you will benefit from exclusive features like a personalised trading strategy, advanced trading signals, and priority withdrawal services.

Minimum Deposit Requirements

Each account type offered by Raceoption requires a minimum deposit to get started. These deposits are as follows:

  • Bronze Account: To open a Bronze account, you need a minimum deposit of £250.
  • Silver Account: A minimum deposit of £1,000 is required to open a Silver account.
  • Gold Account: The Gold account requires you to deposit at least £3,000.

It is important to select the account type that best suits your trading needs and ensure you meet the minimum deposit requirements to start trading with Raceoption.

Trading on Raceoption

Trading Instruments

Raceoption offers you a diverse and extensive range of trading instruments to choose from. You have access to trade in various asset classes, including binary options, CFDs, stocks, cryptocurrencies, forex, commodities, currencies, and indices. This enables you to have flexibility and diversification within your trading portfolio.

Trading Platform

Raceoption’s trading platform is designed to be user-friendly and provides a seamless experience for both desktop and mobile users. The platform caters to all types of traders, from beginners to experienced professionals, ensuring a smooth trading experience for everyone. The mobile trading option allows you to access your trades and track the market on the go.

When it comes to trading conditions, Raceoption delivers a competitive environment with attractive features. With a minimum deposit of $250, you can access their platform and utilise maximum leverage of up to 1:500 to enhance your trading potential. Furthermore, you’ll have access to various tools and resources such as a trading course containing a book and video, as well as a demo account for practice purposes. The platform also enables 1-hour withdrawals, ensuring quick access to your funds.

In terms of options and CFD trading, Raceoption maintains a transparent environment that empowers you to make informed decisions. The platform displays trade details such as entry and exit points, underlying assets, and risks associated with each trade. This enables you to make educated decisions and strategise effectively in the fast-paced world of trading.

To summarise, trading on the Raceoption platform provides you with an easy-to-use interface and access to diverse trading instruments. The platform delivers a competitive trading environment that offers attractive features to assist you in your trading journey. Moreover, the available tools and resources empower you to make informed decisions when partaking in options and CFD trading.

Deposits and Withdrawals

Funding Methods

At RaceOption, you have access to various funding methods to make your deposits. These include:

  • Bank Transfer: A convenient method to transfer funds from your bank account.
  • Credit/Debit Card: Supporting major types like Visa and Mastercard.
  • E-Wallets: Faster and widely-used options like Skrill, Neteller, and Perfect Money are accepted here.
  • Cryptocurrency: For the savvy investor, RaceOption allows deposits in digital currencies like Bitcoin.

You can deposit funds in different base currencies, such as EUR, USD, and GBP, depending on your preferences.

Withdrawal Process

When it comes to withdrawing your money from RaceOption, the process might seem daunting initially, but you can follow these simple steps to ensure a hassle-free withdrawal experience:

  1. Log into your RaceOption account and navigate to the withdrawal section.
  2. Select your preferred withdrawal method – among the available options are bank transfer, visa, mastercard, e-wallets like Skrill, Neteller, Perfect Money, and cryptocurrencies such as Bitcoin.
  3. Indicate the amount you wish to withdraw and confirm the details.
  4. Submit your withdrawal request and wait for it to be processed.

Please be aware that withdrawal fees may apply to certain funding methods, and these fees might vary based on the method you choose. Before submitting your withdrawal request, make sure to review the applicable fees to avoid any unpleasant surprises later.

In summary, RaceOption provides you with a range of user-friendly options to deposit and withdraw funds. Keep in mind that each method might have its own fees and processing times, so it’s important to select the one that best suits your needs.

Raceoption’s Customer Support

When trading with Raceoption, you might have questions or encounter issues related to their platform. Rest assured that their customer support is designed to help you efficiently and effectively. They provide a variety of options to reach their support team, ensuring you get the assistance you need in a timely manner.

One option to contact Raceoption’s customer support is through email. This can be a convenient method for detailed inquiries or concerns that may need some time to be resolved. It’s also helpful if you prefer to have a written record of your exchanges with their team.

Another way to get in touch with Raceoption’s customer service is through live chat. This is an excellent choice when you require quick assistance or simply have a general question about their platform. Live chat offers an immediate response, allowing you to resolve your issues without much delay.

Their customer service team is not only responsive but also multilingual. This means you can seek support in various languages, enabling you to communicate your needs more effectively. The range of languages offered by their support team enhances your trading experience, as you can rely on clear communication.

In addition to email and live chat, Raceoption also provides a comprehensive FAQ section on their website. This can be a valuable resource for finding answers to common questions or issues without needing to contact their customer support directly. The FAQ section is extensive and well-organised, making it easy for you to locate the information you need.

To summarise, Raceoption’s customer support caters to your needs through various channels, including email, live chat, and an informative FAQ section. Their multilingual support team ensures that language barriers don’t hinder your trading experience, and their responsive service allows you to focus on your investments with confidence.

Bonuses and Promotions

Raceoption offers a variety of bonuses and promotions to attract new traders and keep existing ones engaged. These bonuses help you get started on their trading platform and incentivise your trading activities.

Welcome Bonus

As a new trader on Raceoption, you can take advantage of their Welcome Bonus. This deposit bonus is granted when you make your first deposit onto the platform. The amount of the bonus varies depending on the deposit you make:

  • Deposit £250 – £2,999: Receive a 20% bonus
  • Deposit £3,000 – £6,999: Receive a 50% bonus
  • Deposit £7,000 – £14,999: Receive a 100% bonus

Please note that terms and conditions apply to these bonuses, and you should read through them to ensure you understand the requirements for withdrawals.

Loyalty Programmes

Raceoption also has a range of loyalty programmes designed to reward their long-term traders. These bonus programmes may include periodic promotions, special event bonuses, and more. Some of the loyalty programmes offered by Raceoption include:

  • VIP Membership: This programme offers exclusive benefits such as higher payouts, lower deposit fees, and a dedicated account manager who will provide you with personalised assistance.
  • Risk-free trades: These are exclusive trading opportunities where you are refunded if your trade results in a loss. This allows you to try new strategies without the fear of losing your capital.

When selecting a trading platform, always consider its bonuses and promotions to make the most of your trading experience. With Raceoption, you’ll find a blend of welcome bonuses and loyalty programmes that cater to your trading needs.

Security and Regulation

When considering trading with RaceOption, it’s crucial to understand the platform’s security and regulatory status. Although RaceOption offers an enticing range of trading instruments, including Forex, Commodities, Metals, Indices, Shares, and Cryptocurrencies, it’s worth noting that the platform is not currently regulated by any known financial authority.

Despite this lack of regulation, RaceOption does provide some security measures to help protect your account and ensure the safety of your funds. The platform uses encryption technologies to secure your personal information and financial transactions. Additionally, they offer a proprietary trading platform that aims to make trading fast and easy.

In summary, while RaceOption does take some steps towards ensuring security, its lack of regulation by a recognised financial authority may raise concerns for potential traders. It’s essential to carefully weigh these factors when deciding whether to trade on the RaceOption platform. Be confident in your decision and always stay informed on your chosen broker’s regulatory status and security measures.

The Risks and Rewards

Understanding the Risks

When engaging with RaceOption, you should be aware of the risks involved in trading, such as losing your invested capital due to market volatility. It’s crucial to perform your own research and fully assess the risks before engaging in any trading activities.

RaceOption is based in the Marshall Islands and was founded in 2014. Their platform offers a wide range of instruments, including Forex, Indices, Stocks, Commodities, and Crypto. However, it’s important to note that the platform is not regulated by a well-known regulatory authority, which should be considered when weighing the risks associated with trading on this platform.

Potential Returns

RaceOption claims to offer competitive payouts for their traders, with a maximum potential payout of around 90% on specific assets. When trading on the platform, you can choose from over 140+ assets, giving you various options to suit your preferences and risk tolerance.

Keep in mind that trading on RaceOption is available seven days a week, enabling you to take advantage of trading opportunities whenever they arise. However, remember that higher potential returns often come with higher risks, so make sure to manage your risk exposure responsibly by setting appropriate stop-loss orders and only engaging in trades you are confident about.

In conclusion, it’s essential to strike a balance between risks and returns when trading on RaceOption. Ensure proper risk management techniques are employed, and stay up-to-date with market trends to make informed decisions that meet your trading objectives.

Frequently Asked Questions

How does one withdraw from Raceoption?

To withdraw from Raceoption, log in to your trading account, navigate to the withdrawal section, and create a withdrawal request. Depending on the method chosen, the withdrawal process may take a few business days. It’s essential to verify your account before withdrawing funds to avoid any issues.

What are the key features of the Raceoption demo account?

The Raceoption demo account allows you to try different trading strategies and gain hands-on experience without risking real money. Key features include virtual funds for trading various assets, a user-friendly interface to familiarise yourself with the platform, and an opportunity to explore Raceoption’s unique features, such as “Rollover” and “Double up.

Does Raceoption offer a no deposit bonus?

No, Raceoption does not provide a no deposit bonus. They do, however, offer other promotions such as deposit match bonuses or risk-free trades. Always check the terms and conditions of promotions to understand requirements and withdrawal restrictions.

Is Raceoption a reliable broker?

While Raceoption offers a user-friendly platform and various trading features, it is not regulated by any known financial authority. Therefore, always proceed with caution and do thorough research before investing your money.

What is the minimum deposit required for Raceoption?

The minimum deposit required to start trading on Raceoption is $10. This low deposit requirement allows you to begin trading in the binary options market without investing a substantial amount upfront.

How does Raceoption compare to other brokers like Videforex and IQCent?

Raceoption, Videforex, and IQCent all provide web-based platforms, mobile apps for on-the-go trading, and a range of deposit methods, including cryptocurrencies. In terms of trading experience, each platform might have distinct features that cater to different preferences. It is advised to try their demo accounts and compare their offerings to find the best fit for your trading needs.

author avatar image
Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

Raceoption

4.1 / 5
1006 ratings

Comments

  • Amishira

    5 Jun, 2024

    RaceOption is a user-friendly trading platform with quick withdrawals and responsive customer support. Highly recommended for both beginners and pros

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