Raceoption is a binary options broker launched in 2014 that serves more than 150,000 daily orders. This company aims to provide traders with an ideal platform by offering up to 98% maximum return and $0.01 as minimum order size, but has it been successful in this achieving this goal? In this Raceoption review, you will read about the pros & cons, specifications, and registration at the motioned broker.
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 from 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.
Account registration and verification guide
Getting started with Raceoption is a relatively simple process. Here's a step-by-step guide to help you open an account:
- Visit the official Raceoption website and click on the "sign up" or "register" button.
- Complete the sign up form with your personal data, including full name, email address, phone number, country of residence, and preferred currency.
- Create a safe password for your account.
- Read and accept the terms and conditions and privacy policy.
- Click "create account" to complete the pre-registration stage.
- Check your inbox, and click on the received link to verify your email address.
- Log in to your newly created account.
- Complete the verification process by submitting clear photos of the required documents.
- Wait for the verification process to be completed, which typically takes 1-2 business days.
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, first 3 traders are risk-free.
- Weekly trading contests: prizes up to $20,000 for top-performing traders.
- Giveaway: apple watch series 9, iphone 15 pro, ipad pro, and imac as giveaway prizes for traders
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 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 at 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
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
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.
TF Writer's opinion and conclusion
As a binary options broker, Raceoption offers a range of services and tools, including up to 1:500 leverage, weekend trading, and up to 100% deposit bonus. These, along with the remarkable statistic of an average of more than $1,400 daily income for traders, make it an attractive option. However, its trustpilot rating of 3.7/5 may raise some skepticism. It's important to remember that trading with any broker carries the risk of capital loss, so it's your responsibility to conduct thorough research before making any transactions.
