RaceOption is a binary trading company with 3 account types [Bronze, Silver, Gold] requiring a minimum deposit of $250, $1,000, and $3,000 for each one, respectively.
The platform charges an overnight fee of 0.07% (on position value) on orders. The spreads are floating, starting from 1 pip.
RaceOption company information
RaceOption, established 10 years ago, is a binary options and CFD broker that has quickly gained attention in the trading community. Owned by Race Projects Ltd., headquartered in the Marshall Islands, this broker aims to provide a seamless trading experience to its growing client base. Here's what you need to know about RaceOption:
- Offers access to over 100 binary options and CFD instruments
- Provides copy trading functionality for less experienced traders
- Hosts weekly trading contests with substantial prize pools
- Boasts fast funding and withdrawal processes
Summary of specifications
To give you a clearer picture of what RaceOption binary option broker offers, let's break down its key specifications:
Broker | RaceOption |
Account Types | Bronze, Silver, Gold |
Establishment Year | 2014 |
Trading Platforms | Proprietary Platform |
Maximum Return | 98% |
Minimum Deposit | $250 |
Base Currencies | USD, EUR, RUB, GBP |
Deposit Methods | E-Payments, Bank Transfer, Cryptocurrencies, Credit/Debit Cards |
Withdrawal Methods | E-Payments, Bank Transfer, Cryptocurrencies, Credit/Debit Cards |
Minimum Trade Amount | $0.01 |
Maximum Trade Amount | $100,000 |
Tradable Assets | 100+ |
Investment Options | Turbosavings, Copy Trading |
Bonus | Welcome Bonus, Reload, Risk-Free Trades, Contests, Giveaway |
Spreads | From 1 Pip |
Commission & Fees | Withdrawal Fee On Payments Via Visa, Inactivity Fee, Swap Fee |
Maximum Leverage | 1:500 |
Affiliate Program | Yes |
Trading Features | Rollover, Double Up, Tradeback, Sell Trade |
Inactivity Fee | $10 Per Month |
Customer Support Ways | Email, Phone, Live Video Chat |
Customer Support Hours | 24/7 |
Trading Accounts Variety
RaceOption caters to traders of various experience levels and budgets by offering three distinct account types:
- Bronze: For deposits between $250 and $1,000, with up to 20% bonus
- Silver: For $1,000-3,000 deposits, with up to 50% bonus, master class, first 3 risk-free trades
- Gold: From $3,000 deposits, up to 100% bonus, first 3 risk-free trades, personal success manager
Each account type offers progressively more features and benefits, with the gold account providing the most comprehensive package. Meanwhile, all of them offer demo trading with virtual money.
RaceOption Account Types Comparison Table
The information in the table below helps traders choose which RaceOption account type is perfect for them.
Account Type | Bronze | Silver | Gold |
Minimum Deposit | $250 | $1000 | $3000 |
Trading Platform | RaceOption Platform | ||
Markets and Instruments | Forex, Stocks, Cryptocurrencies, Commodities, Indices | ||
Minimum Trade Amount | $0.01 | ||
Commission | Withdrawal Fee On Payments Via Visa, Inactivity Fee, Swap Fee | ||
Maximum leverage | 1:500 | ||
Special Features | 20% Bonus | 50% Bonus, Master Class, First 3 Risk-free Trades | 100% Bonus, Personal Success Manager, First 3 Risk-free Trades, Master Class |
Account Registration and Verification Guide
Trader must complete the RaceOption registration process to use this broker's services. RaceOption registration:
#1 Access the broker's website
Search on the web and find the official RaceOption website. Enter it to begin the account opening process.
#2 Fill in Your Information
Now, follow these steps to open your account:
- Use an unused email and set a strong password (uppercase, lowercase, numbers, and symbols);
- Enter your full name and a valid contact number;
- Choose your preferred currency and accept the terms.
#3 Activate Your Account
To verify your email address and activate your account, follow the instructions below.
- Go to Profile and then choose the "Personal";
- Click to verify your email. Check your inbox and confirm via the link.
Bonuses & Promotions
RaceOption offers a range of bonuses and promotions to attract and retain traders. However, it's essential to approach these offers with caution and fully understand the terms and conditions attached. Here's an overview of the main bonuses:
- Welcome bonus: Up to 100% on initial deposits, depending on the account type;
- Reload bonus: Available on subsequent deposits, percentage varies;
- Risk-free trades: On silver and gold accounts, the first 3 trades are risk-free;
- Weekly trading contests: Prizes up to $20,000 for top-performing traders;
- Refferal bonus: 20% referral commission on a new client’s first deposit
- Giveaway: Apple Watch Series 9, iPhone 15 Pro, iPad Pro, and iMac as giveaway prizes for traders.
To learn more about the RaceOption trading contest, visit the related page on the website.
Commissions & Fees
Understanding the fee structure is critical when choosing a broker. Here's a breakdown of RaceOption's main fees and commissions:
Commission on trades | $0 |
Spreads | Variable, starting from 1 pip |
Overnight fees | 0.07% on position value |
Inactivity fee | $10 per month after 30 days of inactivity |
Withdrawal fee | None (except VISA, 5%) |
Personal Cabinet
The personal cabinet on RaceOption binary options broker serves as the trader's central hub for managing their account. Key features and trading tools include:
- Account overview and balance information
- Deposit and withdrawal functionality
- Turbosavings and copy trading available
- Trading history and performance analytics
- Settings for account preferences and security
- Ready-to-use technical analysis
- Help Center
- Market chart with access to TradingView charts
- Indicators and oscillators on candlestick and TradingView charts
Indicators and Oscillators
RaceOption's proprietary platform provides a limited selection of indicators on its proprietary chart. However, there are more tools available on the embedded TradingView chart in the personal cabinet. These include:
- Moving averages (simple and exponential)
- Bollinger bands
- Relative strength index (RSI)
- Moving average convergence divergence (MACD)
- Stochastic Oscillator
- Commodity channel index (CCI)
- Parabolic SAR
- True strength index
- Volume oscillator
RaceOption Payment Methods
The platform offers a variety of payment methods via different companies and organizations. RaceOption Payment Options:
- Credit/debit cards (Visa, MasterCard)
- E-wallets (Skrill, Neteller)
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin)
- Bank wire transfer
Key points about payments:
- Minimum deposit: $250
- Withdrawal processing time: within 1 hour for most methods
- Bank wire transfers may incur additional fees and longer processing times
Does "RaceOption" Offer Copy Trading?
The broker does offer copy trading functionality, which can be particularly appealing for novice traders or those looking to diversify their strategies. Here's what you need to know about RaceOption's copy-trading feature:
- Available across all account types, including the bronze account
- Accessible through the personal cabinet on the trading platform
RaceOption Pros and Cons
Like any other binary options broker, RaceOption various benefits and drawbacks. RaceOption pros and cons:
Advantages | Disadvantages |
Minimum trade amount $0.01 | Not regulated |
Up to 98% return | High minimum deposit of $250 |
1 hour withdrawals | $10 monthly inactivity fee |
Up to 100% deposit bonus | - |
Trust Scores on Rating Platforms
This part of the RaceOption review is about ratings. When evaluating a broker, it's essential to consider their reputation in the trading community. The broker's trust scores and ratings present a mixed picture, and some of them do not sound as promising as competitors' ratings:
- Trustpilot users score: 3.7 out of 5, "average," based on over 60 reviews
An interesting fact about the Trustpilot ratings is that around 70% of the scores are 1/5.
Customer Services & Support
Customer support can make or break a trading experience, especially when dealing with financial transactions. "RaceOption" offers the following support channels:
- 24/7 live chat
- Email: [support@RaceOption.com]
- Phone: [+18299476393], [+442080685335], [3-395-0396], [081-855-7055], [+7-499-7033774]
- FAQ section
Also, you can contact the platform's team through its social media accounts on Twitter and Instagram.
Comparison of RaceOption with Other Brokers
The table below helps you identify the pros and cons of trading with the RaceOption broker compared to other binary option platforms.
Parameters | RaceOption | ||||
Establishment Year | 2014 | 2013 | 2019 | 2014 | 2017 |
Maximum Return | 98% | Up to 90% | 98% | Up to 93% | +90% |
Minimum Deposit | %250 | $10 | $10 | $10 | $5 |
Minimum Trade amount | $0.01 | $1 | $1 | $1 | $1 |
Number of Trading Assets | 100+ | Over 250 | Over 400 | Over 100 | Over 100 |
Bonus | Welcome Bonus, Reload, Risk-Free Trades, Contests, Giveaway | No | Welcome Bonus, deposit bonus, risk-free trade, loyalty program, seasonal promotion | Deposit Bonus | Welcome Bonus, First Deposit Bonus, No Deposit Bonus, YouTube Video Contest |
Maximum Leverage | 1:500 | 1:100 | 1:1 | 1:500 | 1:1000 |
Inactivity Fee | $10 Per Month | €10 Per Month | No | $10 Per Month | No |
Writer's Opinion and Conclusion
RaceOption is a financial company owned by Race Projects Ltd. that is headquartered in the Marshall Islands. The platform offers features including up to 1:500 leverage, weekend trading, and up to a 100% deposit bonus.
More than 60 users on the "Trustpilot" have given an average trust score of 3.7/5 to the binary broker.